Amendment No. 8 to National Penn Bancshares, Inc. Pension Plan (Effective April 10, 2006)
Contract Categories:
Human Resources
›
Retirement Agreements
Summary
National Penn Bancshares, Inc. has amended its Pension Plan to recognize service with Resources for Retirement, Inc. for the purposes of employee eligibility and vesting in the plan. However, service with Resources for Retirement, Inc. will not count toward benefit accrual. This amendment applies to employees of the company and its subsidiaries, effective April 10, 2006.
EX-10.4 2 ex10-4.htm EXHIBIT 10.4 ex10-4.htm
EXHIBIT 10.4
NATIONAL PENN BANCSHARES, INC. PENSION PLAN
(Amended and Restated Effective January 1, 2001)
Amendment No. 8
National Penn Bancshares, Inc. (the "Company") adopted the National Penn Bancshares, Inc. Pension Plan (Amended and Restated Effective January 1, 2001) (the "Plan") for the benefit of certain of its Employees (as defined in the Plan) and its subsidiaries' Employees. The Company subsequently amended the Plan by Amendment Nos. 1-7 thereto. The Company hereby amends the Plan as hereinafter set forth effective April 10, 2006.
Schedule A to the Plan is amended to add Resources for Retirement, Inc. under the heading “Predecessor Employer”, and across from it to make the additions under columns (1) and (2) set forth below. All service with Resources for Retirement, Inc. shall be credited for purposes of initial eligibility to participate and vesting. No service with Resources for Retirement, Inc. shall be credited for purposes of benefit accrual.
| Predecessor Employer | (1) Eligibility/Vesting | (2) Benefit Accrual |
| Resources for Retirement, Inc. | all service | April 10, 2006 |
Executed this 8th day of May, 2006.
| Attest: | NATIONAL PENN BANCSHARES, INC. |
| By: /s/ Paul Fistner | By: /s/ Earl Houseknecht |
35 of 45
