Common use of Employment Agreements; Employee Benefit Plans Clause in Contracts

Employment Agreements; Employee Benefit Plans. (a) Mutual has Previously Disclosed to Bancorp a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual Plans”). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to Bancorp. Mutual does not maintain, sponsor, contribute to or otherwise participate in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual Plan which is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Code has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by Mutual) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual United has Previously Disclosed to Bancorp FNB a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual United or any subsidiary for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual Plans”). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpFNB. Mutual does not maintainNeither United nor any subsidiary maintains, sponsorsponsors, contribute contributes to or otherwise participate participates in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual Plan which that is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Code Code, has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual United is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by MutualUnited or any subsidiary) required to be filed with any governmental department, agency, service or other authority, including including, without limitation limitation, Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual Integrity has Previously Disclosed to Bancorp FNB a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual Integrity or any subsidiary for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual Plans”). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpFNB. Mutual does not maintainNeither Integrity nor any subsidiary maintains, sponsorsponsors, contribute contributes to or otherwise participate participates in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual Plan which that is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Code Code, has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual Integrity is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by MutualIntegrity or any subsidiary) required to be filed with any governmental department, agency, service or other authority, including including, without limitation limitation, Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual CNB has Previously Disclosed to Bancorp MFC a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, all disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual CNB or Community for the benefit of any employees, of their respective current or former employees, directors, former employees or directors or any of their beneficiaries (collectively, the “Mutual "Plans”"). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or and/or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpMFC. Mutual does not maintainExcept as Previously Disclosed, sponsorneither CNB nor Community maintains, contribute sponsors, contributes to or otherwise participate participates in any “"Employee Benefit Plan” " within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), any “Multiemployer "Multi-employer Plan” " within the meaning of Section 3(37) of ERISA, or any “"Multiple Employer Welfare Arrangement” " within the meaning of Section 3(40) of ERISA. Each Mutual Any Plan which is an “"employee pension benefit plan” " within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the "Code") has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual neither CNB nor Community is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by MutualCNB or Community) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual PSB has Previously Disclosed to Bancorp a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plansplans and agreements; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual PSB for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual Plans”). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to Bancorp. Mutual PSB does not maintain, sponsor, contribute to or otherwise participate in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual Plan which that is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Code Code, has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual PSB is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All To the best knowledge of management of PSB, all reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by MutualPSB) required to be filed with any governmental department, agency, service or other authority, including including, without limitation limitation, Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual has PARA and Target Bank have each Previously Disclosed to Bancorp SLCT and Select Bank a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plansplans and agreements; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual PARA or Target Bank for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual PARA Plans”). True and complete copies of all Mutual PARA Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpSLCT and Select Bank. Mutual does not maintainExcept as Previously Disclosed to SLCT and Select Bank, sponsorneither PARA nor Target Bank maintains, contribute sponsors, contributes to or otherwise participate participates in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual PARA Plan which that is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which that is intended to be qualified under Section 401(a) of the Code has received or applied for a favorable determination letter from the IRS (or relies on an opinion or notification letter issued by the Internal Revenue Service with respect to the effect that they are so qualifieda prototype plan adopted by Target Bank), and Mutual neither PARA nor Target Bank is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual PARA Plans (and any Mutual PARA Plans previously maintained by MutualPARA or Target Bank) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual SSB has Previously Disclosed to Bancorp BNC a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual SSB for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual SSB Plans”). True and complete copies of all Mutual SSB Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual SSB Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpBNC. Mutual Except as Previously Disclosed, SSB does not maintain, sponsor, contribute to or otherwise participate in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual SSB Plan which is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”) has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual SSB is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual SSB Plans (and any Mutual SSB Plans previously maintained by MutualSSB) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual has HC Financial and High Country have Previously Disclosed to Bancorp Yadkin a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual HC Financial or High Country for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual "High Country Plans”"). True and complete copies of all Mutual High Country Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual High Country Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpYadkin. Mutual does Except as Previously Disclosed, HC Financial and High Country do not maintain, sponsor, contribute to or otherwise participate in any “"Employee Benefit Plan” " within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), any “Multiemployer "Multi-employer Plan” " within the meaning of Section 3(37) of ERISA, or any “"Multiple Employer Welfare Arrangement” " within the meaning of Section 3(40) of ERISA. Each Mutual High Country Plan which is an “"employee pension benefit plan” " within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the "Code") has received or applied for a favorable determination letter from the IRS to the effect that they are so qualifiedqualified (or is entitled to rely upon the favorable determination letter issued to the prototype or volume submitter plan sponsor, if the plan utilizes a prototype or volume submitter document), and Mutual neither HC Financial nor High Country is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual High Country Plans (and any Mutual High Country Plans previously maintained by MutualHC Financial or High Country) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service IRS Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual Home Savings has Previously Disclosed to Bancorp FNB a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual Home Savings or the Subsidiary for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual "Plans”"). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or and/or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpFNB. Mutual does not maintainExcept as Previously Disclosed, sponsorneither Home Savings nor the Subsidiary maintains, contribute sponsors, contributes to or otherwise participate participates in any “"Employee Benefit Plan” " within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), any “"Multiemployer Plan” " within the meaning of Section 3(37) of ERISA, or any “"Multiple Employer Welfare Arrangement” " within the meaning of Section 3(40) of ERISA. Each Mutual Plan which is an “"employee pension benefit plan” " within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the "Code"), has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual Home Savings is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by MutualHome Savings or the Subsidiary) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual BHS has Previously Disclosed to Bancorp Bankshares a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual BHS for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual Plans”). True and complete copies of all Mutual Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpBankshares. Mutual BHS does not maintain, sponsor, contribute to or otherwise participate in any “Employee Benefit Plan” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any “Multiemployer Plan” within the meaning of Section 3(37) of ERISA, or any “Multiple Employer Welfare Arrangement” within the meaning of Section 3(40) of ERISA. Each Mutual Plan which that is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Code Code, has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual BHS is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Plans (and any Mutual Plans previously maintained by MutualBHS) required to be filed with any governmental department, agency, service or other authority, including including, without limitation limitation, Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.

Employment Agreements; Employee Benefit Plans. (a) Mutual has Main Street and Piedmont have Previously Disclosed to Bancorp Yadkin a true and complete list of all bonus, deferred compensation, pension, retirement, profit-sharing, thrift, savings, employee stock ownership, stock bonus, stock purchase, restricted stock and stock option plans; all employment and severance contracts; all medical, dental, health, and life insurance plans; all vacation, sickness and other leave plans, disability and death benefit plans; and all other employee benefit plans, contracts, or arrangements maintained or contributed to by Mutual Main Street or Piedmont for the benefit of any employees, former employees, directors, former directors or any of their beneficiaries (collectively, the “Mutual "Main Street Plans”"). True and complete copies of all Mutual Main Street Plans, including, but not limited to, any trust instruments or insurance contracts, if any, forming a part thereof or applicable to the administration of any such Mutual Main Street Plans or the assets thereof, and all amendments thereto, previously have been supplied to BancorpYadkin. Mutual does Except as Previously Disclosed, Main Street and Piedmont do not maintain, sponsor, contribute to or otherwise participate in any “"Employee Benefit Plan” " within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), any “Multiemployer "Multi-employer Plan” " within the meaning of Section 3(37) of ERISA, or any “"Multiple Employer Welfare Arrangement” " within the meaning of Section 3(40) of ERISA. Each Mutual Main Street Plan which is an “"employee pension benefit plan” " within the meaning of Section 3(2) of ERISA and which is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the "Code") has received or applied for a favorable determination letter from the IRS to the effect that they are so qualified, and Mutual neither Main Street nor Piedmont is not aware of any circumstances reasonably likely to result in the revocation or denial of any such favorable determination letter. All reports and returns with respect to the Mutual Main Street Plans (and any Mutual Main Street Plans previously maintained by MutualMain Street or Piedmont) required to be filed with any governmental department, agency, service or other authority, including without limitation Internal Revenue Service Form 5500 (Annual Report), have been properly and timely filed.