Vested Insurance Benefit. If a Participant has a Vested Insurance Benefit, the Bank may amend or terminate the Plan for that Participant only if: (1) continuation of the Plan would cause significant financial harm to the Bank and (2) the Participant agrees to such action.
Appears in 6 contracts
Samples: Group Term Carve Out Plan (Wayne Savings Bancshares Inc /De/), Group Term Carve Out Plan (First Farmers & Merchants Corp), Life Insurance Endorsement Method Split Dollar Plan Agreement (First Farmers & Merchants Corp)
Vested Insurance Benefit. If a Participant has a Vested Insurance Benefit, the Bank Company may amend or terminate the Plan for that Participant only if: if (1) continuation of the Plan would cause significant financial harm to the Bank Company and (2) the Participant agrees to such action.
Appears in 3 contracts
Samples: Group Term Replacement Agreement (Tower Bancorp Inc), Group Term Replacement Agreement (Tower Bancorp Inc), Split Dollar Life Insurance Plan (Mid Penn Bancorp Inc)
Vested Insurance Benefit. If a Participant has a Vested Insurance Benefit, the Bank Employers may amend or terminate the Plan for that Participant only if: (1) continuation of the Plan would cause significant financial harm to the Bank Employers, and (2) the Participant agrees in writing to such action.
Appears in 1 contract
Samples: Group Term Carve Out Plan (Laurel Capital Group Inc)
