LIFE INSURANCE ENDORSEMENT METHOD SPLIT DOLLAR PLAN AGREEMENTEndorsement Method Split Dollar Plan Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks • New York
Trust: Rabbi Trust for the Executive Salary Continuation Agreement, Director Fee Continuation Agreement, and The Endorsement Method Split Dollar Plan Agreement
EXECUTIVE SALARY CONTINUATION AGREEMENTExecutive Salary Continuation Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks
THIS AGREEMENT, made and entered into this 31st day of December, 2007, by and between The Lyons National Bank, a bank organized and existing under the laws of the United States of America (hereinafter referred to as the “Bank”), and Stephen V. DeRaddo, an Executive of the Bank (hereinafter referred to as the “Executive”), a member of a select group of management and highly compensated employees of the Bank.
DIRECTOR FEE CONTINUATION AGREEMENTDirector Fee Continuation Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks • New York
THIS AGREEMENT, made and entered into this 26th day of September, 2001 by and between The Lyons National Bank, a Bank organized and existing under the laws of the United States, (hereinafter referred to as the, “Bank”), and David J. Breen, Jr., a member of the Board of Directors of the Bank (hereinafter referred to as the “Director”).
EXECUTIVE SALARY CONTINUATION AGREEMENTExecutive Salary Continuation Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks • New York
THE AGREEMENT, made and entered into this 26th day of September, 2001 by and between The Lyons National Bank, a banking corporation organized and existing under the laws of the United States (hereinafter called “Bank”), and Robert A. Schick (hereinafter called the “Executive”).
SEVERANCE AGREEMENTSeverance Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks • New York
THIS SEVERANCE AGREEMENT (this “Agreement”) is made effective as of the ___ day __________, by and between THE LYONS NATIONAL BANK, a federally chartered banking organization (the “Company”) with its principal offices located at 35 William Street, Lyons, New York 14489, LYONS BANCORP INC., a New York business corporation (the “Holding Company”) with its principal offices located at 35 William Street, Lyons, New York 14489, and ________________________, an individual residing at _____________________ (the “Executive”).
409A Amendment to The Lyons National Bank Director Fee Continuation Agreement for David J. Breen, Jr.Director Fee Continuation Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks
This Amendment is intended to bring the Agreement into compliance with the requirements of Internal Revenue Code Section 409A. Accordingly, the intent of the parties hereto is that the Agreement shall be operated and interpreted consistent with the requirements of Section 409A. Therefore, the following changes shall be made:
LIFE INSURANCE ENDORSEMENT METHOD SPLIT DOLLAR PLAN AGREEMENTEndorsement Method Split Dollar Plan Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks • New York
Trust: Rabbi Trust for the Executive Salary Continuation Agreement, Director Fee Continuation Agreement, and The Endorsement Method Split Dollar Plan Agreement
DEFERRED COMPENSATION AGREEMENTDeferred Compensation Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks • New York
THIS DEFERRED COMPENSATION AGREEMENT (this "Agreement") is made effective as of the1st day of January 2007 by and between THE LYONS NATIONAL BANK, a federally chartered banking organization (the "Company") with its principal offices located at 35 William Street, Lyons, New York 14489, LYONS BANCORP INC., a New York business corporation (the "Holding Company") with its principal offices located at 35 William Street, Lyons, New York 14489, and an individual residing at (the "Executive").
Terms of consulting arrangement between Lyons Bancorp, Inc. and Robert A. SchickConsulting Agreement • July 9th, 2021 • Lyons Bancorp Inc • National commercial banks
The Company and Robert A. Schick, Director and Chairman of the board of directors of the Company, have a general consulting arrangement, approved by the board of directors of the Company in January 2021, in accordance with which Mr. Schick was hired as the Company’s President and appointed Chairman of the board of directors of the Company. Under this consulting arrangement, Mr. Schick provides the Company with a variety of services including, but not limited to, presiding over board and shareholders meetings, reviewing corporate documents and policies, and assisting the Company and Bank in maintaining strong relationships with shareholders, representatives of the Federal Reserve Bank of NY, and other industry participants. Pursuant to this consulting arrangement, the Company pays Mr. Schick $161,475 annually and reimburses Mr. Schick quarterly for medical and dental insurance at the same levels of reimbursement provided to employees of the Bank.
