BRIDGE BANK DEFERRED COMPENSATION PLAN NONELECTIVE EMPLOYER CONTRIBUTION PARTICIPATION AGREEMENT
BRIDGE
BANK
DEFERRED
COMPENSATION PLAN
NONELECTIVE
EMPLOYER CONTRIBUTION
PARTICIPATION
AGREEMENT
I,
________________, having been selected by the Administrative Committee
(Committee) of the Bridge Bank Deferred Compensation Plan (Plan) hereby accept
participation as a Participant in, agree to the terms of the Plan and this
Participation Agreement (Agreement), and provide notice of my elections with
respect to non-elective Employer contributions under and in accordance with, the
Plan.
Please
Type or Print In Ink:
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A.
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PERSONAL
INFORMATION
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Social
Security Number:
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Address:
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Telephone
No.:
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B.
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ACKNOWLEDGEMENTS
AND AGREEMENTS
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I hereby
acknowledge and agree that I have received a copy of the Plan document setting
forth the terms and provisions of the Plan, and I further acknowledge and agree
to all of such terms and provisions.
In
addition, I acknowledge and agree that I may be awarded non-elective Employer
contributions under the Section 3.6 of the Plan for each Plan Year during the
four (4) calendar years of 2010 through 2013. If the Committee
decides to make a contribution to my Account for a particular Plan Year, then
the Committee shall credit to my Account the amount of fifty thousand dollars
($50,000) or such greater or lesser amount as the Committee determines to be
appropriate, provided I continue to be employed by the Company on December 31 of
each respective year.
The
non-elective Employer contributions shall become non-forfeitable (Vested) as
follows. On each December 31 from 2010 through 2013, I will earn an
additional twenty-five percent (25%) Vesting in the non-elective Employer
contributions in my Account until I am one hundred percent (100%) Vested on
December 31, 2013, provided I have not had a prior Termination of
Employment.
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If I have
a Termination of Employment due to Disability prior to December 31, 2013, the
entire amount of non-elective Employer contributions credited to my Account on
the date of Disability will become one hundred percent (100%)
Vested;
Notwithstanding
the above, if I die while still employed by the Company prior to December 31,
2013, the entire amount of non-elective Employer contributions credited to my
Account, as of my date of death, will become one hundred percent (100%)
Vested.
Clawback. If
any of the above non-elective Employer contributions are made to my Account
pursuant to this Agreement and the contribution is later determined by the
Committee to be bonus, retention, or incentive compensation based on materially
inaccurate financial statements or other materially inaccurate performance
metric criteria at a time when the Company has an outstanding obligation to
repay financial assistance received from the United States government under the
Troubled Assets Relief Program and I am considered a senior executive officer or
one of the next twenty most highly compensated employees under the American
Recovery and Reinvestment Act of 2009, such non-elective Employer contributions
and any related interest shall be forfeited from my Account, if not previously
distributed. To the extent such non-elective Employer contributions
have already been distributed I agree to repay the Employer such contributions
and any related interest.
This
Agreement is part of the Plan document and terms shall have the meanings as set
forth in the Plan.
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C.
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DISTRIBUTION
ELECTIONS [check only
one per category]
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1.
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Time of
Payment
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I
hereby elect distribution of my Deferred Compensation Plan Account balance
attributable to any non-elective Employer contributions for the year
ending December 31, 2010 at the following
time:
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Upon
my termination of employment
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Upon
the later of my termination of employment or the date I reach age
65.
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2.
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Form of
Payment
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I
hereby elect distribution of my Deferred Compensation Plan Account balance
attributable to any non-elective Employer contributions for the year
ending December 31, 2010, in the following
form:
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Single
sum
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Payment
in ______ (2 to 10) equal annual installments (this option not applicable
for death and disability)
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I
acknowledge and agree that I can change my distribution elections only in
accordance with the applicable provisions of the Plan and that this
election will apply to all subsequent non-elective Employer contributions
until a subsequent valid election is filed in accordance with the Plan
that prospectively changes the time and/or form of payment of subsequent
non-elective Employer
contributions.
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D.
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PARTICIPANT
SIGNATURE
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Date
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Signature
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E.
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ADMINISTRATIVE
COMMITTEE
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Date
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/s/Signature
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