EXHIBIT 4.3
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AMENDMENT NO. 1 TO THE
XXXXXXX BANK EMPLOYEE INVESTMENT PLAN
The Xxxxxxx Bank Employee Investment Plan, as amended and restated on
October 22, 2001, is hereby amended as follows:
(1) Effective as of January 17, 2002, Section 28 of the adoption
agreement for the Plan is amended to read as follows:
28. SALARY REDUCTION ARRANGEMENT - ELECTIVE DEFERRALS (Plan Section 12.2)
Each Participant may elect to have Compensation deferred by:
a. [ ] _____%.
b. [ ] up to _____%.
c. [X] from 1% to 15%.
d. [ ] up to the maximum percentage allowable not to exceed the
limits of Code Sections 401(k), 402(g), 404 and 415.
AND, Participants who are Highly Compensated Employees determined as
of the beginning of a Plan Year may only elect to defer Compensation
by
e. [X] Same limits as specified above.
f. [ ] The percentage equal to the deferral limit in effect under
Code Section 402(g)(3) for the calendar year that begins with
or within the Plan Year divided by the annual compensation
limit in effect for the Plan Year under Code Section
401(a)(17).
MAY PARTICIPANTS make a special salary deferral election with respect
to bonuses?
g. [X] No.
h. [ ] Yes, a Participant may elect to defer up to ____% of any
bonus.
PARTICIPANTS MAY commence salary deferrals on the effective date of
participation and on January 1, April 1, July 1 or October 1 (must be
at least once each calendar year).
Participants may modify salary deferral elections:
1. [ ] As of each payroll period.
2. [ ] On the first day of the month.
3. [ ] On the first day of each Plan Year quarter.
4. [ ] On the first day of the Plan Year or the first day of the
7th month of the Plan Year.
5. [X] Other: January 1, April 1, July 1 and October 1 (must be at
least once each calendar year).
Notwithstanding the above, any Participant who is a Non-Highly
Compensated Participant may elect to increase his or her elective
deferral percentage to a percentage not exceeding 15%, effective for
pay dates occurring on or after January 17, 2002. Any election by
such a Participant to increase his or her elective deferral
percentage must be made prior to January 17, 2002.
AUTOMATIC ELECTION: Shall Participants who do not affirmatively elect
to receive cash or have a specified amount contributed to the Plan
automatically have Compensation deferred?
i. [X] No.
j. [ ] Yes, by ____% of Compensation.
SHALL THERE BE a special effective date for the salary deferral
component of the Plan?
k. [X] No.
l. [ ] Yes, the effective date of the salary deferral component of
the Plan is ______ (enter month, day, year).
(2) All section numbers and cross references thereto are
appropriately amended to effectuate the intention of the foregoing amendments.
Dated at Waterbury, Connecticut this 17th day of December, 2001.
ATTEST: XXXXXXX BANK
/s/ Xxxxx X. Xxxxxxxx By /s/ Xxxxx X. Xxxxx
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Its Executive Vice President Its Chairman and Chief Executive Officer
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