ERISA PROVISIONS. Solely to the extent this Agreement is a “welfare benefit plan” within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the following provisions shall apply. a. The Bank shall be the named fiduciary for purposes of ERISA under this Agreement. Accordingly, the Bank shall have authority to control and manage the operation and administration of this Agreement, including the right to interpret any provision of this Agreement, and such interpretation shall be binding on all parties.
Appears in 4 contracts
Sources: Endorsement Split Dollar Life Insurance Agreement (Civista Bancshares, Inc.), Endorsement Split Dollar Life Insurance Agreement (Civista Bancshares, Inc.), Endorsement Split Dollar Life Insurance Agreement (Civista Bancshares, Inc.)