f8kvfg122007ex108.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing








EXHIBIT 10.8


Participation Agreement for The 2005 Venture Financial Group, Inc. 

Supplemental Executive Retirement Plan (as amended by virtue of the 

First Amendment thereto) 


Participant:                                Sandra Sager




Eligibility Date:                       
________________________

The above named Participant is authorized to receive benefits pursuant to the 2005 Venture Financial Group, Inc. Supplemental Executive Retirement Plan (and as amended by virtue of the First Amendment to the 2005 Venture Financial Group, Inc.
Supplemental Executive Retirement Plan), as described below. Benefit accrual shall commence as of the Eligibility Date listed above. 

	
Normal Retirement Date:   ____________________________



	Benefit Level:


		A= Joint and survivor annuity payable for two-hundred and forty (240) months.

B= Joint and survivor annuity payable for one hundred and eighty (180) months.


	



Benefit Amount: The Employer shall pay to the Participant at their Normal Retirement Date an amount equal to $143,086 per year in Twenty-Four substantially equal semi-monthly installments.
Payments in the Event Participant Dies After Becoming Entitled to Benefit Payments But Prior to Receiving Any or All Such Payments: In the event Participant dies after becoming entitled to benefits pursuant to this
Participation Agreement, but prior to receiving any or all such benefit payments, then Participant’s designated Beneficiary(ies) shall be entitled to receive the unpaid benefit payments in such time and manner as specified in the applicable
provisions of the Plan. (i.e., if Participant became entitled to receive a benefit pursuant to the terms of Paragraph 3.2(E), and dies before such payment is made, then his Beneficiary(ies) shall receive the benefit according to the provisions
governing the payment of benefits under Paragraph 3.2(E)) .

	
Participant:
		
/s/ Sandra Sager 12/6/07
		
Sandra Sager
	
	
 
		

Date and Signature
	
	
(Print Name)
	
	


Venture Financial Group, Inc.:
		
 
	
	
 
	

 	
By /s/ Ken Parsons
		
 
	
	
 
	

 	
Title CEO
		
 
	
	


 	
Date 12/18/07	
 




 











Beneficiary Designation Form for 

The 2005 Venture Financial Group, Inc. Supplemental Executive Retirement Plan 








	
I.
		
PRIMARY DESIGNATION
		
 
		
 
		
 
		
 
	
	
(You may refer to the beneficiary designation information prior to completion of this form.)
	
	
 
		
A.
		
Person(s) as a Primary Designation:
		
 
		
 
		
 
	
	
 
		
 
		
(Please indicate the percentage for each beneficiary.)
		
 
		
 
	
	
 
		
Name___________________________________
		

Relationship ___________________ / _______%
	

	
 
		
Address:_______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
Name___________________________________
		

Relationship ___________________/_______%
	

	
 
		
Address:_______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
Name___________________________________
		

Relationship ___________________ / _______ %
	

	
 
		
Address: _______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
Name___________________________________
		

Relationship ___________________ / _______%
	

	
 
		
Address:_______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
B.
		
Estate as a Primary Designation:
		
 
		
 
		
 
	
	
 

     My Primary Beneficiary is The Estate of
	_____________________________ as set forth in the last will and testament

      dated the
	day of  _____________,
	and any codicils thereto.
	
	
 
		
C.
		
Trust as a Primary Designation:
		
 
		
 
		
 
	
	
 	
 	
Name of the Trust: ____________________________________________________________
	
 	
 	
Execution Date of the Trust: _____ / _____ / _________
	
 	
 	
Name of the Trustee: 
	
	
 	
 	
Beneficiary(ies) of the Trust (please indicate the percentage for each
beneficiary)
	
 	
 	
_______________________________________________________________________________
	
 	
 	
_______________________________________________________________________________
	
 	
 	
Is this an Irrevocable Life Insurance Trust? ________ Yes ________ No 
	
	
 	
 	
(If yes and this designation is for a Split Dollar agreement, an Assignment of Rights form should be completed.)




 









	
II.      		
SECONDARY (CONTINGENT) DESIGNATION	
	 
	
A.      		
Person(s) as a Secondary (Contingent) Designation:	



	
 
		
 
		
(Please indicate the percentage for each beneficiary.)
		
 
		
 
	
	
 
		
Name___________________________________
		

Relationship ___________________ / _______%
	

	
 
		
Address:_______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
Name___________________________________
		

Relationship ___________________/_______%
	

	
 
		
Address:_______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
Name___________________________________
		

Relationship ___________________ / _______ %
	

	
 
		
Address: _______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	

	
 
		
Name___________________________________
		

Relationship ___________________ / _______%
	

	
 
		
Address:_______________________________________________________________________________
	
	
 
		
 
		
(Street)
		
 
		
(City)
		
(State)
		

(Zip)
	




	
B.
		
     Estate as a Secondary (Contingent)
Designation:
		
 
		
 
	



My Secondary Beneficiary is The Estate of  _____________________________________ as set forth in my last will and testament dated the _____ day of ___________, _____ and any codicils thereto. 
	


C.      Trust as a Secondary (Contingent) Designation: 



	
Name of the Trust: ____________________________________________________________
	
Execution Date of the Trust: _____ / _____ / _________
	
Name of the Trustee: ____________________________________________________________
	
Beneficiary(ies) of the Trust (please indicate the percentage for each
beneficiary)
	
_______________________________________________________________________________
	
_______________________________________________________________________________


All sums payable under the Split Dollar Life Insurance Agreement by reason of my death shall be paid to the Primary Beneficiary(ies), if he or she survives me, and if no Primary Beneficiary(ies) shall survive me, then to the Secondary (Contingent) Beneficiary(ies). This beneficiary designation is valid until the participant notifies the bank in writing. 


	
 __________________________ 
		
_________________	
 
	
Executive	
Date	
 



NOTE*** IF YOU RESIDE IN A COMMUNITY PROPERTY STATE (ARIZONA, CALIFORNIA, IDAHO, LOUISIANA, NEVADA, NEW MEXICO, TEXAS, WASHINGTON OR WISCONSIN), AND YOU ARE DESIGNATING A




 










BENEFICIARY OTHER THAN YOUR SPOUSE, THEN YOUR SPOUSE MUST ALSO SIGN THE BENEFICIARY DESIGNATION FORM.

 	


I am aware that my spouse, the above named Insured has designated someone
other than me to be the beneficiary and waive any rights I may have to the
proceeds of such insurance under applicable community property laws. I
understand that this consent and waiver supersedes any prior spousal consent or
waiver under this plan. 
		

Spouse Signature: ______________________________

         Date: _________________


		

Witness (other than insured) : ___________________________