Effect of Execution of Adoption Agreement Sample Clauses
The "Effect of Execution of Adoption Agreement" clause defines the legal impact that occurs when an adoption agreement is signed by a new party. Typically, this clause stipulates that upon execution, the new party becomes bound by the terms of an existing agreement, such as a trust, partnership, or shareholder agreement, as if they were an original signatory. For example, when a new shareholder joins a company and signs an adoption agreement, they immediately assume all rights and obligations under the original shareholder agreement. This clause ensures seamless integration of new parties into existing contractual frameworks, maintaining consistency and legal enforceability without renegotiating the entire agreement.
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. Establishes as a new plan the Synergy Financial Group, Inc. --- Employees' Savings & Profit Sharing Plan and Trust, effective , (the "Effective Date"). ------------ ----
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. Establishes as a new plan the Revere Federal Savings & Loan ---- Association Employees' Savings & Profit Sharing Plan and Trust, effective _________________ , 19__ (the "Effective Date").
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. Establishes as a new plan the Pulaski Bank A Savings Bank Employees' Savings & Profit Sharing Plan and Trust, effective ___, 19__.
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. X Establishes as a new plan the Tempo Bank Employees’ Savings & Profit Sharing Plan and Trust, effective February 15, 2007 (the “Effective Date”).
2. Amends its existing defined contribution plan and trust Existing Plan Name dated DATE, in its entirety into the Employer Name Employees’ Savings & Profit Sharing Plan and Trust, effective January 1, 2007, except as otherwise provided herein or in the Agreement (the “Effective Date”).
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. [X] Establishes as a new plan the Cape Savings Bank Employees’ Savings & Profit Sharing Plan and Trust, effective November 1, 2007 (the “Effective Date”).
2. [_] Amends its existing defined contribution plan and trust Existing Plan Name dated __________, in its entirety into the Employer Name Employees’ Savings & Profit Sharing Plan and Trust, effective January 1, 2007, except as otherwise provided herein or in the Agreement (the “Effective Date”).
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. Establishes as a new plan the ______________________________________________ Employees’ Savings & Profit Sharing Plan and Trust, effective ____________________ (the “Effective Date”).
2. _X Amends its existing defined contribution plan and trust ▇▇▇▇▇ Bancorp, Inc. 401(k) Plan dated January 1, 2003, in its entirety into the ▇▇▇▇▇ Bancorp, Inc. Employees’ Savings & Profit Sharing Plan and Trust, effective December 31, 2006, except as otherwise provided herein or in the Agreement (the “Effective Date”).
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. [X] Establishes as a new plan the Central Federal Bank Employees' Savings & Profit Sharing Plan and Trust, effective June 1, 2003 (the Effective Date).
2. [ ] Amends its existing defined contribution plan and trust ___________ dated ____________, in its entirety into the Central Federal Bank Employees' Savings & Profit Sharing Plan and Trust, effective ____________, except as otherwise provided herein or in the Agreement (the Effective Date).
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. ¨ Establishes as a new plan the Employees’ Savings & Profit Sharing Plan and Trust, effective (the “Effective Date”).
2. x Amends its existing defined contribution plan and trust First Savings Bank, F.S.B. Profit Sharing/401(k) Plan dated July 1, 2007, in its entirety into the First Savings Bank, F.S.B. Employees’ Savings & Profit Sharing Plan and Trust, effective August 1, 2008, except as otherwise provided herein or in the Agreement (the “Effective Date”).
Effect of Execution of Adoption Agreement. The Employer, upon execution of this Adoption Agreement by a duly authorized representative thereof, (choose 1 or 2):
1. x Establishes as a new plan the Ottawa Savings Bank Employees’ Savings & Profit Sharing Plan and Trust, effective June 1 , 2005 (the “Effective Date”).
2. ¨ Amends its existing defined contribution plan and trust (________________________ [ Name of Plan ] _______ ) dated ______________, ____________, in its entirety into the [ Name of Employer ] Employees’ Savings & Profit Sharing Plan and Trust, effective __________, 20___, except as otherwise provided herein or in the Agreement (the “Effective Date”).