Common use of Plan Management Clause in Contracts

Plan Management. For the purposes of the Employee Retirement Income Security Act of 1974 ("ERISA"), the Corporation will be the "Named Fiduciary" and "Plan Administrator" of the split-dollar life insurance plan (the "Plan") for which this agreement is hereby designated the written plan instrument. The Corporation's board of directors may authorize a person or group of persons to fulfill the responsibilities of the Corporation as Plan Administrator. The Named Fiduciary or the Plan Administrator may employ others to render advice with regard to its responsibilities under this Plan. The Named Fiduciary may also allocate fiduciary responsibilities to others and may exercise any other powers necessary for the discharge of its duties to the extent not in conflict with ERISA.

Plan Management. For the purposes of the Employee Retirement Income Security Act of 1974 ("ERISA"), the Corporation Bank will be the "Named Fiduciary" and "Plan Administrator" of the split-split dollar life insurance plan (the "Plan") for which this agreement Agreement is hereby designated the written plan instrument. The CorporationBank's board of directors may authorize a person or group of persons to fulfill the responsibilities of the Corporation Bank as Plan Administrator. The Named Fiduciary or the Plan Administrator may employ others to render advice with regard to its responsibilities under this Plan. The Named Fiduciary may also allocate fiduciary responsibilities to others and may exercise any other powers necessary for the discharge of its duties to the extent not in conflict with ERISA.