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: Plan (Wayne Savings Bancshares Inc /De/), Split Dollar Plan Agreement (First Farmers & Merchants Corp), 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: Tower Bancorp Inc, Tower Bancorp Inc, 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
