Selection by Plan Sponsor. Participation in the Plan shall be limited to a select group of management or highly compensated employees of the Plan Sponsor, as determined by the Plan Sponsor in its sole and absolute discretion. The initial group of Eligible Employees shall become Participants on the Effective Date. Any Eligible Employee selected as a Plan Participant after the Effective Date, shall become a Participant on a date determined by the Plan Sponsor.
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/)
Selection by Plan Sponsor. Participation in the Plan shall be limited to a select group of management or highly compensated employees of the Plan Sponsor, as determined by the Plan Sponsor in its sole and absolute discretion. The initial group of Eligible Employees shall become Participants on Participant is the Effective Date. Any Eligible Employee selected as a Plan Participant after only participant in the Effective Date, shall become a Participant on a date determined by the Plan SponsorPlan.
Appears in 2 contracts
Samples: Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc), Supplemental Executive Retirement Plan (Southern National Bancorp of Virginia Inc)
