Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Forfeiture of Benefits clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Forfeiture of Benefits. Notwithstanding any provision of this Plan to the contrary, if I am involuntarily terminated for Cause, then I shall forfeit all benefits under this Plan. The Plan Administrator (as defined in the Plan Agreement) may, in its discretion, interpret the Plan and accompanying forms or adopt other policies and procedures (including policies and procedures with retroactive effect), or take any other actions, as the Plan Administrator determines are necessary or appropriate to comply with the requireme...nts of Section 409A. The Plan Sponsor may amend or terminate the Plan at any time but may not reduce my Vested Accrued Benefit. AGREED AND ACCEPTED BY THE PARTICIPANT /s/ David R. Melville, III 10/20/2009 (Signature of Participant) (Date) AGREED AND ACCEPTED BY THE PLAN SPONSOR /s/ Steven Champney 10/20/2009 (For the Plan Sponsor) (Date) EX-10.16 3 ex_230118.htm EXHIBIT 10.16 ex_230118.htm Exhibit 10.16 BUSINESS FIRST BANK "Supplemental Executive Retirement Plan" Participation Agreement (Please read carefully, sign where indicated and complete Personal Data Section) THIS AGREEMENT is entered into by and between the undersigned Eligible Employee and Business First Bank, the ("Plan Sponsor"). The Plan Sponsor and the Eligible Employee hereby agree, for good and valuable consideration, the value of which is hereby acknowledged, that the Eligible Employee shall become a Participant in the Supplemental Executive Retirement Plan (the "Plan") as such Plan is currently in effect and as the same may hereafter be modified or amended beginning August 1, 2009. The Participant does hereby acknowledge that he has been provided with a copy of the Plan as currently in effect and agrees to the terms and conditions thereof. PLAN BENEFITS I understand that the following benefits are being provided to me and/or my Beneficiaries under the terms of the Plan: 1. Normal Retirement Benefit. If I do not Separate from Service until I reach my Normal Retirement Age, I will receive a Normal Retirement Benefit equal to Twenty-five percent (25%) of my Benefit Computation Base, commencing within Thirty (30) days of my Normal Retirement Date, and payable in equal monthly installments for One-Hundred Eighty (180) months. If I do not Separate from Service at my Normal Retirement Age, my Benefit Computation Base will be determined at my Normal Retirement Age and will not be subject to change after that date.View More
Forfeiture of Benefits. Notwithstanding any provision of this Plan to the contrary, if I am involuntarily terminated for Cause, then I shall forfeit all benefits under this Plan. The Plan Administrator (as defined in the Plan Agreement) may, in its discretion, interpret the Plan and accompanying forms or adopt other policies and procedures (including policies and procedures with retroactive effect), or take any other actions, as the Plan Administrator determines are necessary or appropriate to comply with the requireme...nts of Section 409A. The Plan Sponsor may amend or terminate the Plan at any time but may not reduce my Vested Accrued Benefit. AGREED AND ACCEPTED BY THE PARTICIPANT /s/ David R. Melville, III 10/20/2009 Gregory Robertson 1-6-2021 (Signature of Participant) (Date) AGREED AND ACCEPTED BY THE PLAN SPONSOR /s/ Steven Champney 10/20/2009 David R. Melville, III 1-7-2021 (For the Plan Sponsor) (Date) EX-10.16 3 ex_230118.htm -3- EX-10.1 2 ex_220844.htm EXHIBIT 10.16 ex_230118.htm 10.1 ex_220844.htm Exhibit 10.16 BUSINESS FIRST BANK 10.1 b1BANK "Supplemental Executive Retirement Plan" Participation Agreement (Please read carefully, sign where indicated and complete Personal Data Section) THIS AGREEMENT is entered into by and between the undersigned Eligible Employee and b1BANK (formerly known as Business First Bank, Bank), the ("Plan Sponsor"). The Plan Sponsor and the Eligible Employee hereby agree, for good and valuable consideration, the value of which is hereby acknowledged, that the Eligible Employee shall become a Participant in the Supplemental Executive Retirement Plan (the "Plan") as such Plan is currently in effect and as the same may hereafter be modified or amended beginning August 1, 2009. The Participant does hereby acknowledge that he has been provided with a copy of the Plan as currently in effect and agrees to the terms and conditions thereof. PLAN BENEFITS I understand that the following benefits are being provided to me and/or my Beneficiaries under the terms of the Plan: 1. Normal Retirement Benefit. If I do not Separate from Service until on or after the date I reach my Normal Retirement Age, I will receive a Normal Retirement Benefit equal to Twenty-five percent (25%) $1,875,000. My Normal Retirement Benefit shall be payable in substantially equal monthly installments of my Benefit Computation Base, $10,416.67 for one-hundred eighty (180) months, commencing within Thirty thirty (30) days of my Normal Retirement Date, and payable in equal monthly installments for One-Hundred Eighty (180) months. If I do not Separate from Service at my Normal Retirement Age, my Benefit Computation Base will be determined at my Normal Retirement Age and will not be subject to change after that date. Date. View More
