Executive Deferred Compensation Agreement. In the event of a Change in Control as defined in this Agreement, a Change in Control of the Company shall also be deemed to have occurred for the purpose of Section 10.1 of the Executive Deferred Compensation Agreement (the "Executive Deferred Compensation Agreement") dated as of January 18, 1999 between the Company and Employee, so that effective with the occurrence of the Change in Control, Employee shall be treated for purposes of the Executive Deferred Compensation Agreement as if Employee had attained age 60 on the first day of the second calendar month preceding the calendar month in which the Change in Control of the Company occurs, and Employee's Vesting Factor under Section 1.4 of the Executive Deferred Compensation Agreement shall become and forever thereafter remain 1.
Executive Deferred Compensation Agreement. The Executive Deferred Compensation Agreement between the Executive and the Company entered into as of September 3, 1996.
Executive Deferred Compensation Agreement. The Bank entered into a non-qualified executive deferred compensation agreement with the Executive on April 12, 2023, which was amended and restated in its entirety effective January 1, 2025 (“SERP”). The SERP provides the Executive with an income replacement benefit based on the Executive’s estimated average final three years of compensation including bonus, subject to employer offsets for Social Security benefits and other retirement benefits to which the Executive is entitled under any other benefit program offered by the Employers. Executive earns her SERP income replacement benefit ratably over a ten-year vesting period. The SERP also provides the Executive with the opportunity to earn a Supplemental ESOP Benefit and Supplemental Savings Benefit in the event certain benefits under these tax-qualified retirement plans are cut back due to the Internal Revenue Code limits on compensation. Supplemental ESOP and Savings Benefits, if any, are 100% vested when credited to the Executive’s account(s) in the SERP.
Executive Deferred Compensation Agreement. (s) means any agreement(s) entered into between the Company and any Participant annually for any Plan Year ending before January 1, 2007, which set forth the Participant’s deferral rights for the subject Plan and the terms for management and disposition of the Participant’s Account. Such Agreements, in aggregate, constituted the Plan document prior to the adoption of this instrument. Such Agreements are incorporated by this reference into this Plan document and shall remain enforceable to the extent not inconsistent with this Plan document, but effective for Plan Years beginning on or after January 1, 2007 the use of such Agreements shall be discontinued and this Plan instrument shall exclusively govern the operation of the Plan, including Accounts established under such prior Agreements, thereafter.
Executive Deferred Compensation Agreement. The Executive Deferred Compensation Agreement between the Executive and the Company entered into as of July 15, 1998.
