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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: |
2007 |
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Size: |
Preview shows 35KB of 177KB total |
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Price: |
$72 |
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ID: |
#2871353 |
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Start of Preview |
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EMPLOYEE STOCK OWNERSHIP PLAN
OF
PEOPLES UNITED FINANCIAL, INC.
Effective as of January 1, 2007
TABLE OF CONTENTS
| Page | ||||
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Article I
Definitions
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| Section 1.1 | Account | 1 | ||
| Section 1.2 | Affiliated Employer | 1 | ||
| Section 1.3 | Allocation Compensation | 1 | ||
| Section 1.4 | Bank | 2 | ||
| Section 1.5 | Beneficiary | 2 | ||
| Section 1.6 | Board | 2 | ||
| Section 1.7 | Change in Control | 2 | ||
| Section 1.8 | Code | 2 | ||
| Section 1.9 | Committee | 2 | ||
| Section 1.10 | Company | 2 | ||
| Section 1.11 | Compensation Committee | 2 | ||
| Section 1.12 | Designated Beneficiary | 2 | ||
| Section 1.13 | Disability | 2 | ||
| Section 1.14 | Discretionary Contribution | 2 | ||
| Section 1.15 | Eligibility Computation Period | 3 | ||
| Section 1.16 | Effective Date | 3 | ||
| Section 1.17 | Eligible Employee | 3 | ||
| Section 1.18 | Eligible Participant | 3 | ||
| Section 1.19 | Employee | 3 | ||
| Section 1.20 | Employment Commencement Date | 3 | ||
| Section 1.21 | ERISA | 3 | ||
| Section 1.22 | Exchange Act | 3 | ||
| Section 1.23 | Fair Market Value | 4 | ||
| Section 1.24 | Financed Share | 4 | ||
| Section 1.25 | Five Percent Owner | 4 | ||
| Section 1.26 | Forfeitures | 4 | ||
| Section 1.27 | Former Participant | 4 | ||
| Section 1.28 | 415 Compensation | 5 | ||
| Section 1.29 | General Investment Account | 5 | ||
| Section 1.30 | Highly Compensated Employee | 5 | ||
| Section 1.31 | Hour of Service | 5 | ||
| Section 1.32 | Investment Account | 6 | ||
| Section 1.33 | Investment Fund | 6 | ||
| Section 1.34 | Loan Repayment Account | 6 | ||
| Section 1.35 | Loan Repayment Contribution | 6 | ||
| Section 1.36 | Maternity or Paternity Leave | 6 | ||
| Section 1.37 | Named Fiduciary | 6 | ||
| Section 1.38 | Officer | 7 | ||
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| Section 1.39 | One Year Break in Service | 7 | ||
| Section 1.40 | Participant | 8 | ||
| Section 1.41 | Participating Employer | 8 | ||
| Section 1.42 | Plan | 8 | ||
| Section 1.43 | Plan Administrator | 8 | ||
| Section 1.44 | Plan Year | 8 | ||
| Section 1.45 | Qualified Participant | 8 | ||
| Section 1.46 | Retirement | 8 | ||
| Section 1.47 | Retroactive Contribution | 8 | ||
| Section 1.48 | Share | 8 | ||
| Section 1.49 | Share Acquisition Loan | 8 | ||
| Section 1.50 | Share Investment Account | 8 | ||
| Section 1.51 | Tender Offer | 8 | ||
| Section 1.52 | Total Compensation | 9 | ||
| Section 1.53 | Trust | 9 | ||
| Section 1.54 | Trust Agreement | 9 | ||
| Section 1.55 | Trust Fund | 9 | ||
| Section 1.56 | Trustee | 9 | ||
| Section 1.57 | Valuation Date | 9 | ||
| Section 1.58 | Vesting Computation Period | 9 | ||
| Section 1.59 | Year of Eligibility Service | 9 | ||
| Section 1.60 | Year of Vesting Service | 9 | ||
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Article II
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Participation
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| Section 2.1 | Eligibility for Participation. | 10 | ||
| Section 2.2 | Commencement of Participation. | 10 | ||
| Section 2.3 | Termination of Participation. | 10 | ||
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Article III
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Credited Service
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| Section 3.1 | Computation of Credited Service | 10 | ||
| Section 3.2 | Service to Acquired Entities. | 11 | ||
| Section 3.3 | Breaks in Service. | 11 | ||
| Section 3.4 | Transfer to or From Employment Within the United States. | 12 | ||
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Article IV
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Contributions by Participants Not Permitted
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| Section 4.1 | Contributions by Participants Not Permitted. | 12 | ||
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Article V
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Contributions by Participating Employers
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Section 5.1 |
In General. | 12 | ||
| Section 5.2 | Loan Repayment Contributions. | 13 | ||
| Section 5.3 | Discretionary Contributions. | 13 | ||
| Section 5.4 | Retroactive Contributions. | 13 | ||
| Section 5.5 | Time and Manner of Payment. | 14 | ||
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Article VI
Share Acquisition Loans
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| Section 6.1 | In General. | 14 | ||
| Section 6.2 | Collateral; Liability for Repayment. | 15 | ||
| Section 6.3 | Loan Repayment Account. | 16 | ||
| Section 6.4 | Release of Financed Shares. | 16 | ||
| Section 6.5 | Restrictions on Financed Shares. | 17 | ||
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Article VII
Allocation of Contributions
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| Section 7.1 | Allocation Among Eligible Participants. | 17 | ||
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