{"component": "clause", "props": {"groups": [{"size": 26, "snippet_links": [{"key": "the-employer-shall", "type": "clause", "offset": [0, 18]}, {"key": "right-to-terminate", "type": "clause", "offset": [28, 46]}, {"key": "at-any-time", "type": "clause", "offset": [56, 67]}, {"key": "the-sponsor", "type": "clause", "offset": [69, 80]}, {"key": "defined-contribution-plan", "type": "definition", "offset": [99, 124]}, {"key": "notice-in-writing", "type": "clause", "offset": [156, 173]}, {"key": "intent-to-terminate", "type": "clause", "offset": [192, 211]}, {"key": "assets-of-the-plan", "type": "definition", "offset": [228, 246]}, {"key": "discontinuance-of-contributions", "type": "clause", "offset": [323, 354]}, {"key": "by-the-employer", "type": "clause", "offset": [394, 409]}, {"key": "amounts-credited", "type": "definition", "offset": [415, 431]}, {"key": "the-accounts", "type": "clause", "offset": [435, 447]}, {"key": "in-the-event-of-a", "type": "clause", "offset": [502, 519]}, {"key": "partial-termination", "type": "clause", "offset": [520, 539]}, {"key": "affected-by", "type": "definition", "offset": [560, 571]}, {"key": "termination-shall", "type": "clause", "offset": [585, 602]}, {"key": "fully-vested", "type": "definition", "offset": [606, 618]}, {"key": "in-the-event-of-termination", "type": "clause", "offset": [620, 647]}, {"key": "the-plan-administrator", "type": "clause", "offset": [649, 671]}, {"key": "the-custodian", "type": "definition", "offset": [700, 713]}, {"key": "with-respect-to", "type": "clause", "offset": [728, 743]}, {"key": "distribution-of-accounts", "type": "clause", "offset": [748, 772]}, {"key": "exclusive-benefit-of-participants", "type": "clause", "offset": [787, 820]}, {"key": "the-participant", "type": "clause", "offset": [926, 941]}, {"key": "eligible-retirement-plan", "type": "definition", "offset": [982, 1006]}, {"key": "individual-retirement-account", "type": "clause", "offset": [1010, 1039]}, {"key": "an-election", "type": "clause", "offset": [1059, 1070]}, {"key": "a-participant", "type": "definition", "offset": [1074, 1087]}, {"key": "the-trustee-or-custodian", "type": "clause", "offset": [1196, 1220]}, {"key": "to-transfer", "type": "clause", "offset": [1221, 1232]}, {"key": "employee-stock-ownership-plan", "type": "definition", "offset": [1338, 1367]}, {"key": "an-individual", "type": "clause", "offset": [1538, 1551]}, {"key": "account-with", "type": "definition", "offset": [1563, 1575]}, {"key": "a-distribution", "type": "clause", "offset": [1635, 1649]}, {"key": "pursuant-to-paragraph", "type": "clause", "offset": [1650, 1671]}, {"key": "prior-to", "type": "clause", "offset": [1678, 1686]}, {"key": "to-the-trustee", "type": "clause", "offset": [1774, 1788]}, {"key": "determination-letter", "type": "definition", "offset": [1842, 1862]}, {"key": "the-internal-revenue-service", "type": "definition", "offset": [1868, 1896]}, {"key": "distribution-of-benefits", "type": "clause", "offset": [1948, 1972]}, {"key": "plan-participants", "type": "clause", "offset": [1976, 1993]}, {"key": "such-determination", "type": "definition", "offset": [2013, 2031]}, {"key": "agree-to", "type": "clause", "offset": [2069, 2077]}, {"key": "distributions-to-participants", "type": "clause", "offset": [2083, 2112]}, {"key": "represents-that", "type": "clause", "offset": [2139, 2154]}, {"key": "applicable-requirements", "type": "clause", "offset": [2159, 2182]}, {"key": "the-code", "type": "clause", "offset": [2205, 2213]}, {"key": "termination-of-employee-benefit-plans", "type": "clause", "offset": [2228, 2265]}], "samples": [{"hash": "lgi856Tp1Ol", "uri": "/contracts/lgi856Tp1Ol#plan-termination", "label": "Defined Contribution Plan (Georgetown Bancorp, Inc.)", "score": 21.0, "published": true}, {"hash": "iIWfRAR0AOU", "uri": "/contracts/iIWfRAR0AOU#plan-termination", "label": "Defined Contribution Plan (Idt Corp)", "score": 21.0, "published": true}, {"hash": "bR46WzfTAir", "uri": "/contracts/bR46WzfTAir#plan-termination", "label": "Defined Contribution Plan (Chicopee Bancorp, Inc.)", "score": 21.0, "published": true}], "snippet": "The Employer shall have the right to terminate its Plan at any time. The Sponsor of this Prototype Defined Contribution Plan is to be given sixty (60) days notice in writing of the Employer\u2019s intent to terminate or transfer the assets of the Plan. If the Plan is terminated, partially terminated, or if there is a complete discontinuance of contributions under a profit-sharing plan maintained by the Employer, all amounts credited to the accounts of Participants shall vest and become nonforfeitable. In the event of a partial termination, only those who are affected by such partial termination shall be fully vested. In the event of termination, the Plan Administrator shall direct the Trustee or the Custodian as applicable with respect to the distribution of accounts to or for the exclusive benefit of Participants or their Beneficiaries. Such distribution shall be made directly to Participants or, at the direction of the Participant, may be transferred directly to another Eligible Retirement Plan or individual retirement account. In the absence of an election by a Participant who has received notice from the Plan Administrator under paragraph 6.11, the Plan Administrator may direct the Trustee or Custodian to transfer the Participant\u2019s benefit to another Defined Contribution Plan maintained by the Employer, other than an employee stock ownership plan. If the Employer does not maintain another Defined Contribution Plan, the Plan Administrator may direct the Trustee or Custodian to transfer the Participant\u2019s benefit to an individual retirement account with an institution selected by the Plan Administrator, or make a distribution pursuant to paragraph 7.15. Prior to making any distribution, the Plan Administrator shall establish in a manner acceptable to the Trustee or Custodian, that the Plan has received a favorable determination letter from the Internal Revenue Service approving the Plan termination and authorizing the distribution of benefits to Plan Participants. In the absence of such determination letter, the Trustee or Custodian may agree to make distributions to Participants if the Plan Administrator represents that the applicable requirements, if any, of ERISA and the Code governing the termination of employee benefit plans have been or are being complied with or that appropriate authorizations, waivers, exemptions, or variances have been or are being obtained.", "hash": "4e51eb6a0e2d9f09c578bd98270502ae", "id": 2}, {"size": 20, "snippet_links": [{"key": "your-plan", "type": "definition", "offset": [38, 47]}, {"key": "at-any-time", "type": "clause", "offset": [48, 59]}, {"key": "by-calling-us", "type": "clause", "offset": [60, 73]}, {"key": "page-of", "type": "clause", "offset": [171, 178]}, {"key": "entire-plan", "type": "clause", "offset": [224, 235]}, {"key": "other-provisions-of-this-agreement", "type": "clause", "offset": [278, 312]}, {"key": "full-force-and-effect", "type": "definition", "offset": [339, 360]}, {"key": "sums-due", "type": "definition", "offset": [379, 387]}, {"key": "your-obligations", "type": "clause", "offset": [458, 474]}, {"key": "outstanding-loan-balances", "type": "definition", "offset": [482, 507]}, {"key": "at-the-time", "type": "clause", "offset": [508, 519]}], "samples": [{"hash": "aG6ZQMViSb5", "uri": "/contracts/aG6ZQMViSb5#plan-termination", "label": "Credit and Security Agreement", "score": 26.2041721344, "published": true}, {"hash": "8qGxEPkhrJH", "uri": "/contracts/8qGxEPkhrJH#plan-termination", "label": "Credit and Security Agreement", "score": 26.2016868591, "published": true}, {"hash": "hZl2E57P3qK", "uri": "/contracts/hZl2E57P3qK#plan-termination", "label": "Credit and Security Agreement", "score": 26.1594352722, "published": true}], "snippet": "You or any co-applicant may terminate your Plan at any time by calling us at 206-439- 5700 or, outside Seattle, at \u2587\u2587\u2587- \u2587\u2587\u2587-\u2587\u2587\u2587\u2587 or writing us at the address on the first page of this Agreement. BECU may also terminate your entire Plan or any part of your Plan at any time. All other provisions of this Agreement shall otherwise remain in full force and effect until you pay all sums due us. You understand that terminating your Plan will not relieve you of your obligations on any outstanding loan balances at the time of", "hash": "dd41f86f934efb3a85c895039a19a099", "id": 3}, {"size": 18, "snippet_links": [{"key": "upon-termination", "type": "definition", "offset": [0, 16]}, {"key": "termination-of-the-plan", "type": "clause", "offset": [28, 51]}, {"key": "discontinuance-of-contributions", "type": "clause", "offset": [64, 95]}, {"key": "the-trustee", "type": "clause", "offset": [108, 119]}, {"key": "distributions-to", "type": "clause", "offset": [130, 146]}, {"key": "the-participants", "type": "clause", "offset": [147, 163]}, {"key": "persons-entitled-to-distributions", "type": "clause", "offset": [173, 206]}, {"key": "the-employer", "type": "definition", "offset": [210, 222]}, {"key": "in-accordance-with", "type": "definition", "offset": [248, 266]}, {"key": "provisions-of-the-plan", "type": "clause", "offset": [271, 293]}, {"key": "notify-the", "type": "clause", "offset": [388, 398]}, {"key": "no-duty", "type": "clause", "offset": [473, 480]}, {"key": "written-instructions", "type": "definition", "offset": [540, 560]}, {"key": "completion-of", "type": "clause", "offset": [606, 619]}, {"key": "no-participant", "type": "clause", "offset": [735, 749]}, {"key": "as-required-by", "type": "clause", "offset": [806, 820]}, {"key": "applicable-law", "type": "clause", "offset": [821, 835]}], "samples": [{"hash": "lhvwxVZi4vI", "uri": "/contracts/lhvwxVZi4vI#plan-termination", "label": "Profit Sharing/401(k) Plan (Dep Corp)", "score": 18.0, "published": true}, {"hash": "jbzKx8oIoct", "uri": "/contracts/jbzKx8oIoct#plan-termination", "label": "Non Standardized Adoption Agreement (Marine Transport Corp)", "score": 18.0, "published": true}, {"hash": "irTJebxOjLo", "uri": "/contracts/irTJebxOjLo#plan-termination", "label": "Profit Sharing/401(k) Plan (Lawter International Inc)", "score": 18.0, "published": true}], "snippet": "Upon termination or partial termination of the Plan or complete discontinuance of contributions thereunder, the Trustee will make distributions to the Participants or other persons entitled to distributions as the Employer or Administrator directs in accordance with the provisions of the Plan. In the absence of such instructions and unless the Plan otherwise provides, the Trustee will notify the Employer or Administrator of such situation and the Trustee will be under no duty to make any distributions under the Plan until it receives written instructions from the Employer or Administrator. Upon the completion of such distributions, the Trust will terminate, the Trustee will be relieved from all liability under the Trust, and no Participant or other person will have any claims thereunder, except as required by applicable law.", "hash": "3201afaf3015e900cf5dfa5b853f0b16", "id": 4}, {"size": 11, "snippet_links": [{"key": "your-plan", "type": "definition", "offset": [38, 47]}, {"key": "in-writing", "type": "definition", "offset": [48, 58]}, {"key": "at-any-time", "type": "clause", "offset": [59, 70]}, {"key": "entire-plan", "type": "clause", "offset": [101, 112]}, {"key": "other-provisions-of-this-agreement", "type": "clause", "offset": [155, 189]}, {"key": "full-force-and-effect", "type": "definition", "offset": [216, 237]}, {"key": "sums-due", "type": "definition", "offset": [256, 264]}, {"key": "your-obligations", "type": "clause", "offset": [335, 351]}, {"key": "outstanding-loan-balances", "type": "definition", "offset": [359, 384]}, {"key": "time-of-termination", "type": "clause", "offset": [392, 411]}], "samples": [{"hash": "izeKWBRNBed", "uri": "/contracts/izeKWBRNBed#plan-termination", "label": "Credit and Security Agreement", "score": 20.7631759644, "published": true}, {"hash": "7dnigpfzxIx", "uri": "/contracts/7dnigpfzxIx#plan-termination", "label": "Credit and Security Agreement", "score": 20.7631759644, "published": true}, {"hash": "4HdRFGQ0nJy", "uri": "/contracts/4HdRFGQ0nJy#plan-termination", "label": "Credit and Security Agreement", "score": 20.7631759644, "published": true}], "snippet": "You or any co-applicant may terminate your Plan in writing at any time. BECU may also terminate your entire Plan or any part of your Plan at any time. All other provisions of this Agreement shall otherwise remain in full force and effect until you pay all sums due us. You understand that terminating your Plan will not relieve you of your obligations on any outstanding loan balances at the time of termination.", "hash": "a7395829ab0b3494c4b0ebeed28bcb9e", "id": 6}, {"size": 8, "snippet_links": [{"key": "company-plan", "type": "clause", "offset": [5, 17]}, {"key": "in-accordance-with", "type": "definition", "offset": [71, 89]}, {"key": "without-liability", "type": "clause", "offset": [101, 118]}, {"key": "the-company-group", "type": "definition", "offset": [136, 153]}, {"key": "administrative-expenses", "type": "definition", "offset": [210, 233]}, {"key": "termination-event", "type": "definition", "offset": [258, 275]}, {"key": "neither-the-company", "type": "definition", "offset": [278, 297]}, {"key": "respective-affiliates", "type": "definition", "offset": [313, 334]}, {"key": "meaning-of", "type": "clause", "offset": [482, 492]}, {"key": "redemption-fee", "type": "clause", "offset": [614, 628]}, {"key": "surrender-charge", "type": "definition", "offset": [630, 646]}], "samples": [{"hash": "6A8F0od1xuw", "uri": "/contracts/6A8F0od1xuw#plan-termination", "label": "Merger Agreement (Invitae Corp)", "score": 31.590007782, "published": true}], "snippet": "Each Company Plan can be amended, terminated or otherwise discontinued in accordance with its terms, without Liability to any member of the Company Group, Parent or any of their Affiliates (other than ordinary administrative expenses typically incurred in a termination event). Neither the Company nor any of its respective Affiliates has announced its intention to modify or amend any Company Plan or adopt any arrangement or program which, once established, would come within the meaning of a Company Plan, and each asset held under any Company Plan may be liquidated or terminated without the imposition of any redemption fee, surrender charge or comparable Liability.", "hash": "2f88fe9ebb4e71cd837a1b0695fe8508", "id": 9}, {"size": 38, "snippet_links": [{"key": "plan-sponsor", "type": "clause", "offset": [4, 16]}, {"key": "right-to-terminate", "type": "clause", "offset": [30, 48]}, {"key": "this-plan", "type": "definition", "offset": [49, 58]}, {"key": "in-accordance-with", "type": "definition", "offset": [59, 77]}, {"key": "the-restrictions", "type": "clause", "offset": [111, 127]}, {"key": "section-409a", "type": "definition", "offset": [139, 151]}, {"key": "authoritative-guidance", "type": "definition", "offset": [156, 178]}], "samples": [{"hash": "kjSfGlT2RNq", "uri": "/contracts/kjSfGlT2RNq#plan-termination", "label": "Supplemental Executive Retirement Plan (Community Financial Corp /Md/)", "score": 28.1950721741, "published": true}, {"hash": "c6gUwypyETs", "uri": "/contracts/c6gUwypyETs#plan-termination", "label": "Supplemental Executive Retirement Plan (Community Financial Corp /Md/)", "score": 28.1950721741, "published": true}, {"hash": "klqc52xtzg4", "uri": "/contracts/klqc52xtzg4#plan-termination", "label": "Supplemental Executive Retirement Plan (Community Financial Corp /Md/)", "score": 27.353181839, "published": true}], "snippet": "The Plan Sponsor reserves the right to terminate this Plan in accordance with one of the following, subject to the restrictions imposed by Section 409A and authoritative guidance:", "hash": "886aa9de463c390981303e99e49d2db7", "id": 1}, {"size": 13, "snippet_links": [{"key": "no-employee-benefit-plan", "type": "clause", "offset": [0, 24]}, {"key": "qualified-plan", "type": "clause", "offset": [35, 49]}, {"key": "section-401a", "type": "clause", "offset": [56, 69]}, {"key": "internal-revenue-code", "type": "definition", "offset": [78, 99]}, {"key": "no-trust-created", "type": "clause", "offset": [104, 120]}, {"key": "another-plan", "type": "clause", "offset": [215, 227]}, {"key": "after-january", "type": "clause", "offset": [237, 250]}, {"key": "notice-and-disclosure", "type": "clause", "offset": [286, 307]}, {"key": "pension-benefit-guaranty-corporation", "type": "definition", "offset": [327, 363]}, {"key": "where-applicable", "type": "clause", "offset": [378, 394]}, {"key": "as-required-by", "type": "clause", "offset": [396, 410]}, {"key": "with-respect-to", "type": "clause", "offset": [448, 463]}, {"key": "termination-procedures", "type": "clause", "offset": [491, 513]}, {"key": "potential-liability", "type": "definition", "offset": [561, 580]}, {"key": "terminated-plan", "type": "definition", "offset": [639, 654]}, {"key": "partial-termination", "type": "clause", "offset": [679, 698]}, {"key": "the-issuance", "type": "clause", "offset": [770, 782]}, {"key": "determination-letter", "type": "definition", "offset": [806, 826]}, {"key": "termination-proceedings", "type": "definition", "offset": [890, 913]}], "samples": [{"hash": "jPBLFXV6Oyr", "uri": "/contracts/jPBLFXV6Oyr#plan-termination", "label": "Merger Agreement (Chemical Financial Corp)", "score": 19.0, "published": true}, {"hash": "6S1aXhE9hXB", "uri": "/contracts/6S1aXhE9hXB#plan-termination", "label": "Merger Agreement (Old Kent Financial Corp /Mi/)", "score": 19.0, "published": true}, {"hash": "ekPpOeOMqq9", "uri": "/contracts/ekPpOeOMqq9#plan-termination", "label": "Merger Agreement (Old Kent Financial Corp /Mi/)", "score": 18.0, "published": true}], "snippet": "No Employee Benefit Plan that is a qualified plan under Section 401(a) of the Internal Revenue Code and no trust created thereunder has been terminated, partially terminated, curtailed, discontinued, or merged into another plan or trust after January 1, 1985, except in compliance with notice and disclosure to the IRS and the Pension Benefit Guaranty Corporation (the \"PBGC\"), where applicable, as required by the Internal Revenue Code and ERISA. With respect to each plan termination, all termination procedures have been completed and there is no pending or potential liability to the PBGC, to any plan, or to any participant under the terminated plan. Each plan termination, partial termination, curtailment, discontinuance, or consolidation has been accompanied by the issuance of a current favorable determination letter by the IRS and, where applicable, has been accompanied by plan termination proceedings with and through the PBGC.", "hash": "3ec5bcf88048c2dc0e0beddc0a9e2a92", "id": 5}, {"size": 8, "snippet_links": [{"key": "section-409a-of-the-code", "type": "definition", "offset": [29, 53]}, {"key": "in-the-event-the", "type": "clause", "offset": [55, 71]}, {"key": "by-the-bank", "type": "clause", "offset": [133, 144]}, {"key": "to-the-employee", "type": "definition", "offset": [155, 170]}, {"key": "to-receive", "type": "definition", "offset": [191, 201]}, {"key": "retirement-benefit-payments", "type": "definition", "offset": [209, 236]}, {"key": "plan-distributions", "type": "clause", "offset": [246, 264]}, {"key": "the-bank-shall", "type": "clause", "offset": [266, 280]}, {"key": "accrued-liability", "type": "definition", "offset": [309, 326]}, {"key": "date-of-the-agreement", "type": "definition", "offset": [348, 369]}, {"key": "benefit-amount", "type": "definition", "offset": [390, 404]}, {"key": "period-of", "type": "definition", "offset": [438, 447]}, {"key": "retirement-age", "type": "definition", "offset": [478, 492]}, {"key": "termination-shall", "type": "clause", "offset": [634, 651]}, {"key": "no-impact", "type": "definition", "offset": [657, 666]}, {"key": "continuation-of", "type": "clause", "offset": [674, 689]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [714, 740]}, {"key": "payment-of", "type": "clause", "offset": [746, 756]}, {"key": "termination-benefit", "type": "definition", "offset": [770, 789]}, {"key": "section-35", "type": "clause", "offset": [807, 818]}, {"key": "in-lieu-of", "type": "clause", "offset": [828, 838]}, {"key": "benefits-provided", "type": "definition", "offset": [869, 886]}, {"key": "satisfaction-of", "type": "clause", "offset": [933, 948]}], "samples": [{"hash": "6hRPYqaSjX7", "uri": "/contracts/6hRPYqaSjX7#plan-termination", "label": "Supplemental Executive Retirement Agreement (Ameris Bancorp)", "score": 32.1540031433, "published": true}, {"hash": "jfZO19KfXxw", "uri": "/contracts/jfZO19KfXxw#plan-termination", "label": "Supplemental Executive Retirement Agreement (Ameris Bancorp)", "score": 31.1848049164, "published": true}, {"hash": "2cirtYCbrpp", "uri": "/contracts/2cirtYCbrpp#plan-termination", "label": "Supplemental Executive Retirement Agreement (Ameris Bancorp)", "score": 29.1615333557, "published": true}], "snippet": "Subject to the provisions of Section 409A of the Code, in the event the Bank terminates the Agreement while the Employee is employed by the Bank but prior to the Employee\u2019s becoming entitled to receive Normal Retirement Benefit payments or other Plan Distributions, the Bank shall pay the Employee the entire Accrued Liability determined as of the date of the Agreement\u2019s termination. Such benefit amount shall be paid out ratably over a period of ten (10) years, commencing at Retirement Age. If the Employee or the Employee\u2019s Beneficiary is already receiving Plan Distributions hereunder when the Agreement is terminated, then such termination shall have no impact on the continuation of such Plan Distributions pursuant to this Agreement. The payment of an Agreement termination benefit pursuant to this Section 3.5 shall be in lieu of and replacement for all other benefits provided for under this Agreement and shall be in full satisfaction of any and all benefits provided for under this Agreement.", "hash": "5920a220b1ab2c80ef44528f2c428cf9", "id": 7}, {"size": 8, "snippet_links": [{"key": "section-409a-of-the-code", "type": "definition", "offset": [29, 53]}, {"key": "in-the-event-the", "type": "clause", "offset": [55, 71]}, {"key": "the-agreement", "type": "clause", "offset": [88, 101]}, {"key": "by-the-bank", "type": "clause", "offset": [133, 144]}, {"key": "to-the-employee", "type": "definition", "offset": [155, 170]}, {"key": "to-receive", "type": "definition", "offset": [191, 201]}, {"key": "retirement-benefit-payments", "type": "definition", "offset": [209, 236]}, {"key": "plan-distributions", "type": "clause", "offset": [246, 264]}, {"key": "the-bank-shall", "type": "clause", "offset": [266, 280]}, {"key": "aggregate-benefit-amount", "type": "definition", "offset": [325, 349]}, {"key": "section-35", "type": "clause", "offset": [363, 374]}, {"key": "equal-monthly-installments", "type": "clause", "offset": [390, 416]}, {"key": "day-of", "type": "clause", "offset": [444, 450]}, {"key": "following-the", "type": "definition", "offset": [461, 474]}, {"key": "retirement-age", "type": "definition", "offset": [486, 500]}, {"key": "the-period", "type": "clause", "offset": [545, 555]}, {"key": "termination-shall", "type": "clause", "offset": [712, 729]}, {"key": "no-impact", "type": "definition", "offset": [735, 744]}, {"key": "continuation-of", "type": "clause", "offset": [752, 767]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [782, 808]}, {"key": "existing-plan", "type": "clause", "offset": [908, 921]}], "samples": [{"hash": "6hRPYqaSjX7", "uri": "/contracts/6hRPYqaSjX7#plan-termination", "label": "Supplemental Executive Retirement Agreement (Ameris Bancorp)", "score": 32.1540031433, "published": true}, {"hash": "jfZO19KfXxw", "uri": "/contracts/jfZO19KfXxw#plan-termination", "label": "Supplemental Executive Retirement Agreement (Ameris Bancorp)", "score": 31.1848049164, "published": true}, {"hash": "2cirtYCbrpp", "uri": "/contracts/2cirtYCbrpp#plan-termination", "label": "Supplemental Executive Retirement Agreement (Ameris Bancorp)", "score": 29.1615333557, "published": true}], "snippet": "Subject to the provisions of Section 409A of the Code, in the event the Bank terminates the Agreement while the Employee is employed by the Bank but prior to the Employee\u2019s becoming entitled to receive Normal Retirement Benefit payments or other Plan Distributions, the Bank shall pay the Employee each annual portion of the aggregate benefit amount set forth in Section 3.5 in twelve (12) equal monthly installments, commencing upon the first day of the month following the Employee\u2019s Retirement Age. Such benefit shall continue to be paid for the period set forth in Section 3.5. If the Employee or the Employee\u2019s Beneficiary is already receiving Plan Distributions when the Agreement is terminated, then such termination shall have no impact on the continuation of such benefits pursuant to this Agreement nor shall it result in any incremental benefits being paid to the Employee over and above the then existing Plan Distributions.", "hash": "a08dd5af78e77bffc6353286b4c4ebca", "id": 8}, {"size": 7, "snippet_links": [{"key": "the-company", "type": "clause", "offset": [0, 11]}, {"key": "at-any-time", "type": "clause", "offset": [17, 28]}, {"key": "for-any-reason", "type": "clause", "offset": [33, 47]}, {"key": "terminate-the-plan", "type": "definition", "offset": [49, 67]}, {"key": "in-accordance-with", "type": "definition", "offset": [68, 86]}, {"key": "the-procedures", "type": "definition", "offset": [87, 101]}, {"key": "section-195", "type": "clause", "offset": [115, 127]}, {"key": "in-the-event-of-a", "type": "clause", "offset": [202, 219]}, {"key": "termination-of-the-plan", "type": "clause", "offset": [228, 251]}, {"key": "meaning-of", "type": "clause", "offset": [263, 273]}, {"key": "code-section", "type": "definition", "offset": [274, 286]}, {"key": "the-accounts", "type": "clause", "offset": [298, 310]}, {"key": "affected-employee", "type": "definition", "offset": [319, 336]}, {"key": "break-in-service", "type": "clause", "offset": [364, 380]}, {"key": "fully-vested", "type": "definition", "offset": [390, 402]}, {"key": "successor-plan", "type": "clause", "offset": [410, 424]}, {"key": "lump-sum-distributions", "type": "clause", "offset": [455, 477]}, {"key": "terms-of-the-plan", "type": "clause", "offset": [515, 532]}, {"key": "in-effect", "type": "definition", "offset": [536, 545]}, {"key": "time-of-the", "type": "clause", "offset": [553, 564]}, {"key": "provided-that", "type": "definition", "offset": [609, 622]}, {"key": "to-the-extent", "type": "clause", "offset": [675, 688]}, {"key": "section-191", "type": "clause", "offset": [706, 718]}, {"key": "to-maintain", "type": "clause", "offset": [750, 761]}, {"key": "status-of-the-plan", "type": "clause", "offset": [776, 794]}, {"key": "the-trustee", "type": "clause", "offset": [817, 828]}, {"key": "termination-date", "type": "clause", "offset": [889, 905]}, {"key": "trust-assets", "type": "clause", "offset": [916, 928]}], "samples": [{"hash": "dOYVPTEYOcV", "uri": "/contracts/dOYVPTEYOcV#plan-termination", "label": "Retirement Savings Plan and Trust Agreement (Spieker Properties Inc)", "score": 18.0, "published": true}, {"hash": "9szUwl3vtbu", "uri": "/contracts/9szUwl3vtbu#plan-termination", "label": "Employee Stock Savings Plan (La Gear Inc)", "score": 18.0, "published": true}, {"hash": "4PMObWf2cyn", "uri": "/contracts/4PMObWf2cyn#plan-termination", "label": "Employee Stock Savings Plan (La Gear Inc)", "score": 18.0, "published": true}], "snippet": "The Company may, at any time and for any reason, terminate the Plan in accordance with the procedures set forth in Section 19.5, or completely discontinue contributions. Upon either of these events, or in the event of a partial termination of the Plan within the meaning of Code section 411(d)(3), the Accounts of each affected Employee who has not yet incurred a Break in Service shall be fully vested. If no successor plan is established or maintained, lump sum distributions shall be made in accordance with the terms of the Plan as in effect at the time of the Plan's termination or as thereafter amended provided that a post-termination amendment shall not be effective to the extent that it violates Section 19.1 unless it is required in order to maintain the qualified status of the Plan upon its termination. The Trustee's and Employer's authority shall continue beyond the Plan's termination date until all Trust assets have been liquidated and distributed.", "hash": "dce52c3ac1472ec3761bb7ce165d0a05", "id": 10}], "next_curs": "ClkSU2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjULEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhlwbGFuLXRlcm1pbmF0aW9uIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"children": [["discretionary-termination", "Discretionary Termination"], ["change-in-control", "Change in Control"], ["corporate-dissolution-or-bankruptcy", "Corporate Dissolution or Bankruptcy"], ["", ""], ["other-termination", "Other termination"]], "size": 363, "parents": [["amendment-and-termination", "Amendment and Termination"], ["amendments", "Amendments"], ["employee-benefit-plans", "Employee Benefit Plans"], ["personal-line-of-credit-and-credit-card", "PERSONAL LINE OF CREDIT AND CREDIT CARD"], ["definitions", "Definitions"]], "title": "Plan Termination", "id": "plan-termination", "related": [["plan-terminations", "Plan Terminations", "<strong>Plan Terminations</strong>"], ["plan-termination-generally", "Plan Termination Generally", "<strong>Plan Termination</strong> Generally"], ["benefits-upon-plan-termination", "Benefits Upon Plan Termination", "Benefits Upon <strong>Plan Termination</strong>"], ["employers-termination", "Employer\u2019s Termination", "Employer\u2019s Termination"], ["employee-termination", "Employee Termination", "Employee Termination"]], "related_snippets": [], "updated": "2026-07-31T05:52:59+00:00", "also_ask": ["What are the minimum notice and procedural requirements to validly terminate the plan?", "How can the clause be drafted to minimize exposure to participant claims or regulatory penalties?", "What negotiation leverage does each party have regarding plan termination triggers and timing?", "How does this clause compare to industry standards and ERISA requirements?", "What are the most common grounds for courts to invalidate or restrict plan termination clauses?"], "drafting_tip": "Specify termination triggers to prevent disputes, outline notice requirements to ensure clarity, and address post-termination obligations to protect parties\u2019 interests.", "explanation": "The Plan Termination clause defines the conditions and procedures under which a plan, such as an employee benefit or retirement plan, may be ended by the sponsoring party. Typically, this clause outlines the required notice period, the process for distributing plan assets, and the rights of participants upon termination. Its core function is to provide a clear framework for winding down the plan in an orderly manner, ensuring compliance with legal requirements and protecting the interests of all stakeholders involved."}, "json": true, "cursor": ""}}