Interrelationship of the Plan and the Trust. The provisions of this Plan shall govern the rights of a Participant to receive distributions pursuant to this Plan. The provisions of the Trust (if established) shall govern the rights of the Participant and the creditors of the Plan Sponsor to the assets transferred to the Trust. The Plan Sponsor and each Participant shall at all times remain liable to carry out its obligations under this Plan. The Plan Sponsor's obligations under this Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.
Appears in 20 contracts
Samples: Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc)
Interrelationship of the Plan and the Trust. The provisions of this Plan shall govern the rights of a Participant to receive distributions pursuant to this Plan. The provisions of the Trust (if established) shall govern the rights of the Participant and the creditors of the Plan Sponsor to the assets transferred to the Trust. The Plan Sponsor and each Participant shall at all times remain liable to carry out its obligations under this Plan. The Plan Sponsor's ’s obligations under this Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.
Appears in 15 contracts
Samples: Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/), Supplemental Executive Retirement Plan (Community Financial Corp /Md/)
Interrelationship of the Plan and the Trust. The provisions of this the Plan shall govern the rights of a Participant to receive distributions pursuant to this the Plan. The provisions of the Trust (if established) shall govern the rights of the Participant and the creditors of the Plan Sponsor to the assets transferred to the Trust. The Plan Sponsor and each Participant Each shall at all times remain liable to carry out its obligations under this the Plan. The Plan Sponsor's ’s obligations under this the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.
Appears in 2 contracts
Samples: Director Deferred Compensation Master Agreement (Oceanfirst Financial Corp), Executive Deferred Compensation Master Agreement (Oceanfirst Financial Corp)
Interrelationship of the Plan and the Trust. The provisions of this Plan shall govern the rights of a Participant to receive distributions pursuant to this Plan. The provisions of the Trust (if established) shall govern the rights of the Participant and the general creditors of the Plan Sponsor Corporation to the assets transferred to the Trust. The Plan Sponsor Corporation and each Participant shall at all times remain liable to carry out its obligations under this Plan. The Plan Sponsor's Corporation’s obligations under this Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.
Appears in 2 contracts
Samples: Key Employee Deferred Compensation Plan (Regan Holding Corp), Producer Commission Deferral Plan (Regan Holding Corp)
Interrelationship of the Plan and the Trust. The provisions of this Plan shall govern the rights of a Participant to receive distributions pursuant to this Plan. The provisions of the Trust (if established) shall govern the rights of the Participant and the creditors of the Plan Sponsor to the assets transferred to the Trust. The Plan Sponsor and each Participant shall at all times remain liable to carry out its obligations under this Plan. The Plan Sponsor's ’s obligations under this Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.. Exhibit 10.40
Appears in 1 contract
Samples: Salary Continuation Plan Agreement (Old Line Bancshares Inc)
Interrelationship of the Plan and the Trust. The provisions of this the Plan shall govern the rights of a Participant to receive distributions pursuant to this the Plan. The provisions of the Trust (if established) shall govern the rights of the Participant and the creditors of the Plan Sponsor Employers to the assets transferred to the Trust. The Plan Sponsor and each Participant Employers shall at all times remain liable to carry out its their obligations under this the Plan. The Plan Sponsor's Employers' obligations under this the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.
Appears in 1 contract
Samples: Executive Officer Deferred Compensation Plan (Herbalife International Inc)
