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Document Preview Employee Stock Ownership Plan |
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Title: |
Employee Stock Ownership Plan |
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Entities: |
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Date: |
2006 |
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Size: |
Preview shows 45KB of 149KB total |
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Price: |
$74 |
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ID: |
#1417309 |
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Start of Preview |
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EMPLOYEE STOCK OWNERSHIP PLAN
OF
LAKE SHORE BANCORP, INC.
Effective as of [January 1, 2006]
TABLE OF CONTENTS
| Page | ||||
| Article I | ||||
| Definitions | ||||
|
Section 1.1 |
Account |
7 | ||
|
Section 1.2 |
Affiliated Employer |
7 | ||
|
Section 1.3 |
Allocation Compensation |
7 | ||
|
Section 1.4 |
Bank |
8 | ||
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Section 1.5 |
Board |
8 | ||
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Section 1.6 |
Beneficiary |
8 | ||
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Section 1.7 |
Change in Control |
8 | ||
|
Section 1.8 |
Code |
8 | ||
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Section 1.9 |
Committee |
8 | ||
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Section 1.10 |
Company |
8 | ||
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Section 1.11 |
Designated Beneficiary |
8 | ||
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Section 1.12 |
Disability |
9 | ||
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Section 1.13 |
Discretionary Contribution |
9 | ||
|
Section 1.14 |
Domestic Relations Order |
9 | ||
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Section 1.15 |
Eligibility Computation Period |
9 | ||
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Section 1.16 |
Effective Date |
10 | ||
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Section 1.17 |
Eligible Employee |
10 | ||
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Section 1.18 |
Eligible Participant |
10 | ||
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Section 1.19 |
Employee |
10 | ||
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Section 1.20 |
Employment Commencement Date |
10 | ||
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Section 1.21 |
ERISA |
10 | ||
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Section 1.22 |
Exchange Act |
10 | ||
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Section 1.23 |
Fair Market Value |
10 | ||
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Section 1.24 |
Financed Share |
11 | ||
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Section 1.25 |
Five Percent Owner |
11 | ||
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Section 1.26 |
Forfeitures |
11 | ||
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Section 1.27 |
Former Participant |
11 | ||
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Section 1.28 |
General Investment Account |
11 | ||
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Section 1.29 |
Highly Compensated Employee |
11 | ||
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Section 1.30 |
Hour of Service |
12 | ||
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Section 1.31 |
Investment Account |
12 | ||
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Section 1.32 |
Investment Fund |
12 | ||
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Section 1.33 |
Loan Repayment Account |
12 | ||
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Section 1.34 |
Loan Repayment Contribution |
12 | ||
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Section 1.35 |
Maternity or Paternity Leave |
12 | ||
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Section 1.36 |
Military Service |
13 | ||
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Section 1.37 |
Named Fiduciary |
13 | ||
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Section 1.38 |
Officer |
13 | ||
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Section 1.39 |
One-Year Break in Service |
13 | ||
1
|
Section 1.40 |
Participant | 13 | ||
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Section 1.41 |
Participating Employer | 13 | ||
|
Section 1.42 |
Plan | 13 | ||
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Section 1.43 |
Plan Administrator | 13 | ||
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Section 1.44 |
Plan Year | 13 | ||
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Section 1.45 |
Qualified Domestic Relations Order | 13 | ||
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Section 1.46 |
Qualified Military Service | 14 | ||
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Section 1.47 |
Qualified Participant | 14 | ||
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Section 1.48 |
Retirement | 14 | ||
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Section 1.49 |
Retroactive Contribution | 14 | ||
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Section 1.50 |
Share | 14 | ||
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Section 1.51 |
Share Acquisition Loan | 14 | ||
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Section 1.52 |
Share Investment Account | 14 | ||
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Section 1.53 |
Tender Offer | 14 | ||
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Section 1.54 |
Total Compensation | 14 | ||
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Section 1.55 |
Trust | 15 | ||
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Section 1.56 |
Trust Agreement | 15 | ||
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Section 1.57 |
Trust Fund | 15 | ||
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Section 1.58 |
Trustee | 15 | ||
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Section 1.59 |
Valuation Date | 15 | ||
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Section 1.60 |
Vesting Computation Period | 15 | ||
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Section 1.61 |
Year of Eligibility Service | 15 | ||
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Section 1.62 |
Year of Vesting Service | 15 | ||
| Article II | ||||
| Participation | ||||
|
Section 2.1 |
Eligibility for Participation | 15 | ||
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Section 2.2 |
Commencement of Participation | 16 | ||
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Section 2.3 |
Termination of Participation | 16 | ||
| Article III | ||||
| Special Provisions | ||||
|
Section 3.1 |
Military Service | 16 | ||
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Section 3.2 |
Maternity or Paternity Leave | 16 | ||
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Section 3.3 |
Adjustments to Years of Eligibility Service | 17 | ||
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Section 3.4 |
Leave of Absence | 17 | ||
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Section 3.5 |
Family and Medical Leave | 18 | ||
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Section 3.6 |
Service with Uniformed Forces | 18 | ||
2
| Article IV | ||||
| Contributions by Participants Not Permitted | ||||
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Section 4.1 |
Contributions by Participants Not Permitted |
18 | ||
| Article V | ||||
| Contributions by the Employer | ||||
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Section 5.1 |
In General |
18 | ||
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Section 5.2 |
Loan Repayment Contributions |
18 | ||
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Section 5.3 |
Discretionary Contributions |
19 | ||
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Section 5.4 |
Retroactive Contributions |
19 | ||
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Section 5.5 |
Time and Manner of Payment |
20 | ||
| Article VI | ||||
| Share Acquisition Loans | ||||
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Section 6.1 |
In General |
20 | ||
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Section 6.2 |
Collateral; Liability for Repayment |
20 | ||
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Section 6.3 |
Loan Repayment Account |
21 | ||
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Section 6.4 |
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End of Preview |
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