Common use of No Effect on Employee Benefit Plans or Programs Clause in Contracts

No Effect on Employee Benefit Plans or Programs. The termination of the Officer's employment during the Assurance Period or thereafter, whether by the Bank or by the Officer, shall have no effect on the rights and obligations of the parties hereto under the Bank's qualified or non-qualified retirement, pension, savings, thrift, profit-sharing or stock bonus plans, group life, health (including hospitalization, medical and major medical), dental, accident and long term disability insurance plans or such other employee benefit plans or programs, or compensation plans or programs (whether or not employee benefit plans or programs), as may be maintained by, or cover employees of, the Bank from time to time; PROVIDED, HOWEVER, that nothing in this Agreement shall be deemed to duplicate any compensation or benefits provided under any agreement, plan or program covering the Officer to which the Bank or the Company is a party and any duplicative amount payable under any such agreement, plan or program shall be applied as an offset to reduce the amounts otherwise payable hereunder.

No Effect on Employee Benefit Plans or Programs. The termination of the OfficerExecutive's employment during the Assurance Period term of this Agreement or thereafter, whether by the Company, by the Commercial Bank or by the OfficerExecutive, shall have no effect on the rights and obligations of the parties hereto under the Company's or the Commercial Bank's qualified or non-qualified retirement, pension, savings, thrift, profit-sharing or stock bonus plans, group life, health (including hospitalization, medical and major medical), dental, accident and long term disability insurance plans or such other employee benefit plans or programs, or compensation plans or programs (whether or not employee benefit plans or programs), as may be maintained by, or cover employees of, the Company or the Commercial Bank from time to time; PROVIDED, HOWEVER, that nothing in this Agreement shall be deemed to duplicate any compensation or benefits provided under any agreement, plan or program covering the Officer Executive to which the Bank or the Company is a party and any duplicative amount payable under any such agreement, plan or program shall be applied as an offset to reduce the amounts otherwise payable hereunder.

No Effect on Employee Benefit Plans or Programs. The termination of the OfficerExecutive's employment during the Assurance Period term of this Agreement or thereafter, whether by the Company, by the Bank or by the OfficerExecutive, shall have no effect on the rights and obligations of the parties hereto under the Company's or the Bank's qualified or non-qualified retirement, pension, savings, thrift, profit-sharing or stock bonus plans, group life, health (including hospitalization, medical and major medical), dental, accident and long term disability insurance plans or such other employee benefit plans or programs, or compensation plans or programs (whether or not employee benefit plans or programs), as may be maintained by, or cover employees of, the Company or the Bank from time to time; PROVIDED, HOWEVER, that nothing in this Agreement shall be deemed to duplicate any compensation or benefits provided under any agreement, plan or program covering the Officer Executive to which the Bank or the Company is a party and any duplicative amount payable under any such agreement, plan or program shall be applied as an offset to reduce the amounts otherwise payable hereunder.

No Effect on Employee Benefit Plans or Programs. The termination of the OfficerExecutive's employment during the Assurance Period term of this Agreement or thereafter, whether by the Company, by the Bank or by the OfficerExecutive, shall have no effect on the rights and obligations of the parties hereto under the Company's or the Bank's qualified or non-qualified retirement, pension, savings, thrift, profit-sharing or stock bonus plans, group life, health (including hospitalization, medical and major medical), dental, accident and long term disability insurance plans or such other employee benefit plans plans, programs or policies, or compensation plans, programs, or compensation plans or programs (whether or not employee benefit plans or programs)policies, as may be maintained by, or cover employees of, the Company or the Bank from time to time; PROVIDED, HOWEVER, that nothing in this Agreement shall be deemed to duplicate any compensation or benefits provided under any agreement, plan or program covering the Officer Executive to which the Bank or the Company is a party and any duplicative amount payable under any such agreement, plan or program shall be applied as an offset to reduce the amounts otherwise payable hereunder.