exhibit1020-123108.htm


    
      

      EXHIBIT 10.20

    
      

    

    
       

       

      The York Water
Company

       

       

       

      Amended and
Restated

       

       

       

      “Supplemental Retirement
Plan”

       

       

       

      (Effective January 1,
2009)

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      AMENDED AND RESTATED
SUPPLEMENTAL RETIREMENT
PLAN

       

       

       

      THIS SUPPLEMENTAL RETIREMENT PLAN is an agreement
(the “ Agreement ”) made as of this _______
day of _______________, 20___, by and between THE YORK WATER COMPANY, a
Pennsylvania corporation with its principal business office located at 130 East
Market Street, York, Pennsylvania (hereinafter called “ Employer ”) and
___________________ (hereinafter called “ Employee ”):

       

      WITNESSETH:

       

      WHEREAS, Employer wishes to encourage Employee's
continued employment, and Employee is willing to undertake such employment,
subject to receipt of deferred compensation upon the terms hereinafter set
forth.

       

      WHEREAS, Employer desires to amend and restate
the Supplemental Retirement Plan to comply with the requirements of Section 409A
of the Code (as defined below).  

       

      NOW, THEREFORE, the parties hereto, intending to
be legally bound hereby, do hereby mutually agree as follows:

       

      1.           
 Employment .  Employer hereby engages Employee upon the terms
and conditions as hereinafter
provided.

       

      2.                 
 Term .  This Agreement shall continue in full force and effect
until the earlier of (i) Employee's Separation from Service (as defined below)
prior to attaining age 55, or (ii) payment to Employee or Beneficiary, as
applicable, of all benefits to which Employee shall become entitled
hereunder.

       

      3.                 
 Duties .  From and after the date hereof, Employee shall serve
Employer in Employer's business in such capacity or capacities as may from time
to time be determined by the President or Board of Directors of Employer (the
“ Board ”).  During the period of active, full-time employment
hereunder, Employee
shall:

       

      (a)               
devote his full time and best efforts to
the business and affairs of Employer (allowing a reasonable time for
vacation);

       

      (b)              
perform such services, not unreasonable or
inconsistent with Employee's position, education, training or background, as may
be designated by the President or Board at any time and from time to
time;

       

      (c)               
use his best efforts to promote the
business of Employer;
and

       

      (d)              
hold such office or directorship in
Employer, to which Employee may from time to time be elected or appointed,
without further compensation other than that for which provision is made in this
Agreement.

       

      4.                 
 Compensation .  During the period of Employee's employment
hereunder, Employer agrees to pay Employee for his services such a salary as may
from time to time be mutually agreed between Employer and
Employee.

       

      5.                 
 Definitions .  The following definitions are applicable to the
benefits payable
hereunder:

       

      (a)         Beneficiary shall mean one or more persons, trusts, estates or
other entities that are entitled to receive benefits under this Agreement upon
the death of Employee as may have theretofore been designated in writing by
Employee on forms provided by Employer and containing Employer's acknowledgment
or acceptance
thereof.

       

      (b)        Code shall mean the Internal Revenue Code of 1986, as amended, and
the regulations issued
thereunder.

       

      (c)         Disability Retirement shall mean a condition of Employee whereby
he or she either: (i) is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period
of not less than twelve (12) months, or (ii) is, by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than twelve
(12) months, receiving income replacement benefits for a period of not less than
three (3) months under an accident and health plan covering employees of
Employer.  Items (i) and (ii) in this Section 5(c) are permitted provided
they are in compliance with the requirements of Treasury Regulations Section
1.409A-3(g)(4).   An Employee will also be deemed disabled if
determined to be totally disabled by the Social Security Administration or in
accordance with a disability insurance program, provided that the definition of
Disability applied under such disability insurance program complies with the
requirements of Treasury Regulations Section
1.409A-3(g)(4).

       

      (d)        Disability Retirement Benefit shall mean the benefit payable under
this Agreement upon a Disability Retirement.  The Disability Retirement
Benefit shall be the Monthly Retirement Benefit Unit multiplied by each calendar
year of full-time, active service with Employer completed subsequent to the
________ and as of the December 31 immediately prior to Employee’s Disability
Retirement. 


       

      (e)         Early Retirement Age shall mean any age from and including age
fifty-five (55) to and including age sixty-four (64). 


       

      (f)         Early Retirement Benefit shall mean the Monthly Retirement Benefit
Unit multiplied by each calendar year of full-time, active service with Employer
completed subsequent to _________ and as of the December 31st immediately prior
to attainment of Early Retirement Age.


       

      (g)        ERISA shall mean the Employee Retirement Income Act of 1974, as
amended, and the regulations issued
thereunder.

       

      (h)        Late Retirement Age shall mean any age from and including age
sixty-six (66).


       

      (i)          Late Retirement Benefit shall mean the Monthly Retirement Benefit
Unit multiplied by each calendar year of full-time, active service with Employer
completed subsequent to _________ and as of the December 31st immediately prior
to attainment of Late Retirement Age.


       

      (j)          Monthly Retirement Benefit Unit shall mean, for purposes of the
applicable Supplemental Retirement Benefit determination hereunder, $_______,
the monthly benefit unit commencing at Early Retirement Age, Normal Retirement
Age, Late Retirement Age, Disability Retirement or Pre-Retirement Death, as
applicable. 


       

      (k)        Normal Retirement Age shall mean age sixty-five
(65).

       

      (l)          Normal Retirement Benefit shall mean the Monthly Retirement
Benefit Unit multiplied by each calendar year of full-time, active service with
Employer completed subsequent to _________ and as of the December 31st
immediately prior to attainment of Normal Retirement
Age.

       

      (m)      Payment Delay for
Specified Employees shall mean the six (6) month payment delay of the Normal
Retirement Benefit that is payable to a “key employee” (as defined by Section
416(i) of the Code without regard to paragraph (5) thereof, and as further
defined in Treasury Regulations Section 1.409A-(1)(i)) on account of the key
employee’s Separation from Service.


       

      (n)        Plan Administrator shall mean the Board or its designee.


       

      (o)        Pre-Retirement Death Benefit shall mean the lesser of (x) the
product of (i) $_________ per month indexed at four percent (4%) per annum,
multiplied by (ii) the number of completed calendar years subsequent to
______________, or (y) the sum of (i) the product of (A) twelve (12) multiplied
by (B) one hundred percent (100%) of monthly salary for the month in which death
occurs and (2) the product of (A) one hundred sixty-eight (168) multiplied by
(B) sixty percent (60%) of the monthly salary for the month in which death
occurs.

       

      (p)        Separation from Service shall mean “separation from service”
within the meaning of Section 409A(a)(2)(A)(i) of the Code.


       

      (q)        Supplemental Retirement Benefits shall mean Early Retirement
Benefit, Normal Retirement Benefit, Late Retirement Benefit, Disability
Retirement Benefit and the Pre-Retirement Death
Benefit.

       

      (r)          Unforeseeable Emergency shall mean severe financial hardship of
Employee or Beneficiary resulting from an illness or accident of Employee or
Beneficiary, Employee or Beneficiary’s spouse, or Employee or Beneficiary’s
dependent(s) (as defined in Section 152(a) of the Code) or loss of Employee or
Beneficiary’s property due to casualty or other similar extraordinary and
unforeseeable circumstances arising as a result of events beyond the control of
Employee or Beneficiary within the meaning of Section 409A of the
Code.

       

      6.                 
 Supplemental Retirement
Benefits 

       

      (a)  Retirement Benefits .  Subject to all of the terms
and conditions hereof, Employer agrees to pay to Employee, and Employee shall be
entitled to receive from Employer, his or her Early Retirement Benefit, Normal
Retirement Benefit or Late Retirement Benefit, as applicable, upon the later of
Employee’s (i) Separation from Service, provided Employee is at least age 55 at
the time of such Separation from Service, or (ii) attainment of age sixty
(60).  Employee’s Early Retirement Benefit, Normal Retirement Benefit or
Late Retirement Benefit, as applicable, shall commence payment within sixty (60)
days of Employee’s Separation from Service or Employee’s 60th birthday, as
applicable, and be paid monthly for one hundred eighty (180) consecutive months
thereafter .  Notwithstanding anything to the contrary in this Section
6(a), if Employee’s Early Retirement Benefit, Normal Retirement Benefit or Late
Retirement Benefit, as applicable, is payable upon Employee’s Separation from
Service and Employee is a key employee, the applicable retirement benefit is
subject to the Payment Delay for Specified Employees.  

       

      (b)       Disability Retirement
Benefits .  If while actively employed on a full-time basis with
Employer, Employee incurs a Disability Retirement, Employee is entitled to a
Disability Retirement Benefit which shall commence payment within sixty (60)
days following the Disability Retirement and be paid monthly until the December
31st immediately following Employee’s eightieth (80th) birthday.

       

      (c)       Pre-Retirement Death
Benefits .  If Employee dies (i) while actively employed by
Employer on a full-time basis and prior to the commencement of Normal Retirement
Benefits or (ii) after satisfying the requirements of a Disability Retirement
but prior to the commencement of Disability Retirement Benefits, the
Pre-Retirement Death Benefit will be paid in a single lump sum within sixty (60)
days following Employee’s death.

       

      (d)       Termination of Employment by Employee
Prior to Age 55 .  If Employee terminates employment by Employer
prior to age fifty-five (55), other than as a result of death or Disability
Retirement as provided for hereunder, Employee will no longer be entitled to
receive benefits under this Agreement.

       

      7.           
 Eligibility in Other Employer Plans .  Nothing contained in
this Agreement shall affect the right of Employee to participate or to continue
to participate in any pension plan or in any other supplemental compensation
arrangement sponsored by Employer which may constitute a part of Employer's
regular compensation structure or in any discretionary bonus which Employer may
pay to its employees; and Employee may receive the benefits under the provisions
of any such pension plan or other arrangements in accordance with the terms
thereof.  Any benefits paid to Employee pursuant to this Agreement shall
not be deemed salary or other eligible compensation for the purpose of computing
fringe benefits or benefits to which Employee may be entitled under any pension
plan or other arrangement sponsored by Employer for the compensation of its
employees.

       

      8.                 
 Employee Revocable Designation .  In the event of death of
Employee prior to the payment in full of the applicable benefits hereunder,
Employee's remaining monthly payments shall be paid to Beneficiary at the same
time and in the same form as if it were paid to Employee had Employee
survived.  Employee shall have the right at any time and from time to time
to change Beneficiary regardless of whether distribution of the benefits may
have commenced.  In the event of Employee's failure to make such
designation, or if no designee shall survive Employee, the remaining monthly
payments shall be paid to Employee's spouse; provided that if Employee's spouse
shall become entitled to payment hereunder, but shall die before payment in full
of the applicable benefits, any remainder thereof shall be paid in monthly
installments either to the issue of Employee, per stirpes, and if none, then to
Employee's
estate.

       

      9.                 
 Unforeseeable Emergency .  Notwithstanding that an effective
designation of a Beneficiary entitled to receive payment of benefits or
remainder thereof may then be in force, the Board may, at its option, at any
time or from time to time in its absolute and sole discretion, as permitted
within the meaning of Section 409A of the Code and Treasury Regulations Section
1.409A-3(g)(3), accelerate the time and form of payment of any one or more
payments hereunder in event of any Unforeseeable Emergency; provided that
Employee is at least age 55 upon the occurrence of the Unforeseeable
Emergency.

       

      10.           
 Minority or Disability .  If Employer in its sole discretion
shall deem any person entitled to receive any payments under this Agreement to
be unable to care for his or her affairs because of illness or accident, or is a
minor, any such payments (unless a prior claim therefore shall have been made by
a duly appointed guardian, committee or other legal representative) may be made
to the spouse, child or children, parent, brother or sister of such person, or
to any third person or entity deemed by Employer to have incurred expense for
such person, in the manner and amount that such payments would have been
distributed to such person.  Any such payment shall be a complete discharge
to the extent thereof of the obligations of Employer under this
Agreement.

       

      11.           
 Non-Alienation of Benefits .  None of the rights, interest or
benefits contemplated under this Agreement may be sold, given away, assigned,
transferred, pledged, mortgaged, alienated, hypothecated or in any way
encumbered or disposed of by Employee, or any executor, administrator, heir,
legatee, distributee, relative or any other person or entity, whether or not in
being, claiming under Employee by virtue of this Agreement, and none of the
rights, interest or benefits contemplated by this Agreement shall be subject to
execution, attachment or similar process.  Any (or attempted) sale, gift,
assignment, transfer, pledge, mortgage, alienation, hypothecation or
encumbrance, or other disposition of this Agreement or of such rights, interest
or benefits contrary to the foregoing provisions, or the levy or any attachment
or similar process thereon, shall be null and void and without
effect.

       

      12.         Discharge
Provisions 

       

      (a)     Notwithstanding
anything which might be herein contained to the contrary, it being clearly
understood and agreed upon by the parties hereto the EMPLOYMENT OF EMPLOYEE IS AND SHALL REMAIN
EMPLOYMENT SOLELY AT-WILL , Employer may at any time discharge
Employee, whether or not for cause, in which event or in the event Employee sues
or in any manner contests such “at-will” employment or Employer's right to
discharge Employee, then upon written notice to Employee and effective
immediately upon the mailing thereof in the manner set forth in Section 19
hereof, Employee's right to receive benefits hereunder shall be fixed and
determined as of such date; provided that nothing herein shall affect Employee's
right to receive payment of such benefits in the manner and at the time herein
provided, except as otherwise provided in Section 12(b) hereof.

       

      (b)     If Employee incurs a
Separation from Service on account of termination of employment by Employer
without cause and Employee is at least age 55, a monthly benefit paid for one
hundred eighty (180) consecutive months will be paid commencing within sixty
(60) days following the date of the discharged Employee's attainment of Normal
Retirement Age, or if sooner, within sixty (60) days following the Employee’s
death.  Notwithstanding the foregoing in this Section 12(b), if the benefit
payable under this Section 12(b) is paid upon Employee’s Separation from Service
and Employee is a key employee, then such payment is subject to the Payment
Delay for Specified Employees.  The benefit paid under this Section 12(b)
will be calculated using the then discounted  present value of the
discharged Employee's Monthly Retirement Benefit Units accrued on Employer's
books as of the December 31st immediately prior to the date when Employee's
rights to receive a benefit is fixed under Section 12(a) hereof.  The
monthly benefit will be determined assuming that the discounted present value is
paid for one hundred eighty (180) consecutive equal monthly installments
assuming interest at the same rate as used in determining the present
value.  No Disability Retirement Benefits will be paid under this
provision.

       

      (c)     In the event that Employee
shall be convicted of a crime involving Employee's business affairs or in the
event that Employer shall have reasonable cause to believe Employee to be guilty
of any such crime, all rights of Employee under this Agreement shall terminate
immediately, and Employer shall have the right to terminate and make no payments
whatsoever of Supplemental Benefits hereunder, notwithstanding that such amounts
would constitute all or a portion of the benefits otherwise payable
hereunder.  Such right of Employer shall be in addition to, and not in lieu
of, any and all other rights which Employer may have in such event.  The
provisions hereof shall be applicable notwithstanding that payment of such
Normal Retirement Benefit or Disability Retirement Benefits may have theretofore
commenced under any provision of this Agreement.

       

      13.           
 Non-Competition Provision .  Notwithstanding anything herein
contained to the contrary, no payment of any then unpaid installments of
benefits under this Agreement shall be made and all rights under this Agreement
of Employee, his spouse, executors or administrators, or other persons claiming
through or on behalf of Employee to receive payments thereof, shall be
forfeited, unless such forfeiture is waived by the Board, if Employee engages in
or takes part in any business enterprise of any kind during employment by
Employer or within a period of three (3) years after termination of such
employment or at any time while Employee is receiving benefits hereunder for any
reason whatsoever, within a sixty (60) mile radius of York, Pennsylvania,
whether as an Employee or as an owner directly or indirectly, which manufacture,
produces or sells any article then manufactured, produced or sold by Employer or
by a present or future holding company of Employer or subsidiary of Employer or
of such holding company, or which may be in any other way directly or indirectly
competitive with the business of Employer or such holding company or subsidiary
of
Employer.

       

      14.           
 No Trust Relationship .  Nothing contained in this Agreement
and no action taken pursuant to the provisions of this Agreement shall create or
be construed to create a trust or security relationship of any kind, nor a
fiduciary relationship between Employer and Employee, or any Beneficiary of the
latter or other person presently or prospectively entitled to the receipt of
payments hereunder.  To the extent that any person becomes entitled,
presently or prospectively, to receive payments from Employer under this
Agreement, such right shall be no greater than the right shall be no greater
than the right of any unsecured general creditor of
Employer.

       

      15.           
 Power and Authority .  Plan Administrator shall have full
power and authority to interpret, construe and administer this Agreement, and
any such interpretation or construction hereof by Plan Administrator, or other
action hereunder, including the amount or recipient of any one or more payments
of the benefits payable  hereunder, shall be binding and conclusive on all
persons, whether in being or not.  Neither Employer nor Plan Administrator
shall not be liable to any person, whether in being or not, for any action taken
or omitted in connection with the interpretation and administration of this
Agreement, unless attributable to the willful misconduct or bad faith of
Employer or Plan Administrator, it being understood and agreed, however, that
the employment of Employee is and shall continue to be solely
at-will.

       

      16.           
 Waiver of Breach .  Failure to insist upon strict compliance
with any of the terms, covenants or conditions hereof shall not be deemed a
waiver of such term, covenant or condition, nor shall any waiver or
relinquishment of any right of power hereunder at any one time or more times be
deemed a waiver or relinquishment of such right or power at any other time or
times.

       

      17.           
 Modification .  This Agreement shall not be modified or
amended except by written Agreement duly executed by Employee and
Employer.

       

      18.           
 Severability .  If any clause, sentence, paragraph, section or
part of this Agreement shall be held by any court of competent jurisdiction to
be invalid, such judgment shall not affect, impair or invalidate any of the
other parts hereof. 


       

      19.           
 Notices .  Any notice required or permitted to be given under
this Agreement shall be sufficient if in writing and sent by registered or
certified mail, if to Employee, to his address as shown on the books of
Employer, and if to Employer, to the address shown above, or such other address
as Employer may have designated in writing, or if such written notice is
actually received by the person to whom
sent.

       

      20.           
 Claims Procedure . 


       

      (a)           
 Claim . Employee or Beneficiary
(hereinafter referred to as a “ Claimant ”) who believes he or she is entitled to any
Supplemental Retirement Benefit under this Agreement may file a claim with Plan
Administrator. Plan Administrator shall review the claim itself or appoint an
individual or entity to review the
claim.

       

      (b)          
 Claim Decision . The Claimant shall
be notified within ninety (90) days after the claim is filed whether the claim
is allowed or denied (forty-five (45) days in the case of a claim involving
Disability Retirement Benefits), unless, for claims not involving Disability
Retirement Benefits, the claimant receives written notice from Plan
Administrator or appointee of Plan Administrator prior to the end of the ninety
(90) day period stating that special circumstances require an extension of the
time for decision. Such extension is not to extend beyond the day which is one
hundred eighty (180) days after the day the claim is filed.  In the case of
a claim involving Disability Retirement Benefits, Plan Administrator will notify
the Claimant within the initial forty-five (45) day period that Plan
Administrator needs up to an additional thirty (30) days to review the
Claimant’s claim.  If the Plan Administrator determines that the additional
thirty (30) day period is not sufficient and that additional time is necessary
to review the Claimant’s claim for Disability Retirement Benefits, the Plan
Administrator may notify the Claimant of an additional thirty (30) day
extension.  If Plan Administrator denies the claim, it must provide to the
Claimant, in writing or by electronic
communication:

       

      (i)                
The specific reasons for such
denial;

       

      (ii)              
Specific reference to pertinent provisions
of this Agreement on which such denial is
based;

       

      (iii)            
A description of any additional material or
information necessary for the Claimant to perfect his or her claim and an
explanation why such material or such information is
necessary;

       

      (iv)            
In the case of any claim involving
Disability Retirement Benefits, a copy of any internal rule, guideline,
protocol, or other similar criterion relied upon in making the initial
determination or a statement that such a rule, guideline, protocol, or other
criterion was relied upon in making the determination and that a copy of such
rule will be provided to the Claimant free of charge at the Claimant’s request;
and

       

      (v)              
A description of the Agreement’s appeal
procedures and the time limits applicable to such procedures, including a
statement of the Claimant’s right to bring a civil action under Section 502(a)
of ERISA following a denial of the appeal of the denial of the benefits
claim.

       

      (c)           
 Review Procedures .  A request
for review of a denied claim must be made in writing to Plan Administrator
within sixty (60) days after receiving notice of denial (one hundred eighty
(180) days in the case of a claim involving Disability Retirement Benefits). The
decision upon review will be made within sixty (60) days after Plan
Administrator’s receipt of a request for review (forty-five (45) days in the
case of a claim involving Disability Retirement Benefits), unless special
circumstances require an extension of time for processing, in which case a
decision will be rendered not later than one hundred twenty (120) days after
receipt of a request for review (ninety (90) days in the case of a claim for
Disability Retirement Benefits). A notice of such an extension must be provided
to the Claimant within the initial sixty (60) day period (the initial forty-five
(45) day period in the case of a claim for Disability Retirement Benefits) and
must explain the special circumstances and provide an expected date of
decision.  The reviewer shall afford the Claimant an opportunity to review
and receive, without charge, all relevant documents, information and records and
to submit issues and comments in writing to Plan Administrator. The reviewer
shall take into account all comments, documents, records and other information
submitted by the Claimant relating to the claim regardless of whether the
information was submitted or considered in the benefit determination.  Upon
completion of its review of an adverse initial claim determination, Plan
Administrator will give the Claimant, in writing or by electronic notification,
a notice
containing:

       

      (i)                
its
decision;

       

      (ii)              
the specific reasons for the
decision;

       

      (iii)            
the relevant Agreement provisions on which
its decision is
based;

       

      (iv)            
a statement that the Claimant is entitled
to receive, upon request and without charge, reasonable access to, and copies
of, all documents, records and other information in the Agreement’s files which
is relevant to the Claimant’s claim for
benefit;

       

      (v)              
a statement describing the Claimant’s right
to bring an action for judicial review under Section 502(a) of ERISA;
and

       

      (vi)            
in the case of any claim involving
Disability Retirement Benefits, a copy of any internal rule, guideline,
protocol, or other similar criterion that was relied upon in making the adverse
determination on review or a statement that a copy of the rule, guideline,
protocol or other similar criterion was relied upon in making the adverse
determination on review and that a copy of such rule, guideline, protocol, or
criterion will be provided without charge to the Claimant upon
request.

       

                  Unless
a Claimant voluntarily avails himself or herself of the procedures set forth in
Section 20(g) below, all interpretations, determinations and decisions of Plan
Administrator in respect of any claim shall be made in its sole discretion based
on the applicable Agreement documents and shall be final, conclusive and binding
on all parties.

       

      (d)              
 Calculation of Time Periods . For
purposes of the time periods specified in this Article, the period of time
during which a benefit determination is required to be made begins at the time a
claim is filed in accordance with the Agreement procedures without regard to
whether all the information necessary to make a decision accompanies the claim.
If a period of time is extended due to a Claimant’s failure to submit all
information necessary, the period for making the determination shall be tolled
from the date the notification is sent to the Claimant until the date the
Claimant responds.

       

      (e)               
 Failure of Agreement to Follow
Procedures . If the Agreement fails to follow the claims procedure required
by this Article, a Claimant shall be entitled to pursue any available remedy
under Section 502(a) of ERISA on the basis that the Agreement has failed to
provide reasonable claims procedure that would yield a decision on the merits of
the claim.

       

      (f)               
 Failure of Claimant to Follow
Procedures . A Claimant’s compliance with the foregoing provisions of this
Article is a mandatory prerequisite to the Claimant’s right to commence any
legal action with respect to any claim for benefits under the
Agreement.

       

      (g)              
 Arbitration of Claims .  Instead
of  pursuing his or her claim in court, a Participant may voluntarily agree
that all claims or controversies arising out of or in connection with this
Agreement shall, subject to the initial review provided for in the foregoing
provisions of this Article, be resolved through arbitration as provided in this
Article. Except as otherwise provided or by mutual agreement of the parties, any
arbitration shall be administered under and by the Judicial Arbitration &
Mediation Services, Inc. (“ JAMS ”), in accordance with the JAMS procedure then in
effect. The arbitration shall be held in the JAMS office nearest to where the
Claimant is or was last employed by Employer or at a mutually agreeable
location. The prevailing party in the arbitration shall have the right to
recover its reasonable attorney’s fees, disbursements and costs of the
arbitration (including enforcement of the arbitration decision), subject to any
contrary determination by the arbitrator.  If the Claimant voluntarily
avails himself or herself of the procedures set forth in this Section 20(g), all
determinations of the arbitrators in respect of any claim shall be final,
conclusive and binding on all parties. 


       

      21.           
 Gender and Plural .  All references made and pronouns used
herein shall be construed in the singular or plural, and in such gender as the
context may
require.

       

      22.           
 Captions .  The captions of the various provisions shall not
be deemed a part of this Agreement and shall not be construed in any way to
limit the contents hereof but are inserted herein only for reference and for
convenience of the parties. 


       

      23.           
 Governing State Law .  This Agreement may be executed at
different times in different places, but all questions concerning the
construction or validity hereof, or relating to performance hereunder, shall be
determined in accordance with the laws of the Commonwealth of
Pennsylvania. 


       

      24.           
 Duplicate Originals .  This Agreement may be executed in one
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument, and there shall be
no requirement to produce another counterpart.


       

      25.           
 Successors or Assigns .  It is hereby agreed that the terms
and provisions of this Supplemental Retirement Plan shall be binding upon the
successors or assigns of The York Water Company (Employer).


       

      26.           
Section 409A
Compliance . This Agreement is intended to comply with the
requirements of Section 409A of the Code, and shall in all respects be
administered in accordance with Section 409A of the Code.  Notwithstanding
anything in this Agreement to the contrary, distributions may only be made under
this Agreement upon an event and in a manner permitted by Section 409A of the
Code, including the requirement that “specified employees,” as such term is
defined in Section 409A of the Code, may not receive distributions prior to the
end of the six-month period following a Separation from Service.  If a
payment is not made by the designated payment date under the Agreement, the
payment shall be made by December 31 of the calendar year in which the
designated date occurs.  To the extent that any provision of this Agreement
would cause a conflict with the requirements of Section 409A of the Code, or
would cause the administration of the Agreement to fail to satisfy the
requirements of Section 409A of the Code, such provision shall be deemed null
and void to the extent permitted by applicable law.  In no event may
Employee designate the year of a distribution.   Notwithstanding
anything in the Agreement to the contrary, this Agreement may be amended by
Employer at any time, retroactively if required, to the extent required to
conform the Agreement to Section 409A of the Code.
            IN
WITNESS WHEREOF, Employer has caused this Agreement to be executed by its duly
authorized officers, and Employee has hereunto set his hand and seal as of the
day and year first above written.

       

       

       

      ATTEST:                                                                    
THE YORK WATER COMPANY

       

       

       

       

       

       

       

                              
                                                            
                                                           


       

      Secretary                  
                                                 
President

       

       

       

       

       

       

       

      (SEAL)

       

                             
                                                           
                                                           
 

       

                                                                                         
Employee

       

       

       

    


     TO WHOM IT MAY
CONCERN 

     

     

     

    I designate the following as my beneficiary for
the Supplemental Retirement Plan of The York Water Company.

     

    Name of Beneficiary

     

    Primary

     

    Name                    
                                                                                                      


     

    Address                
                                                                                                      


     

                                                                                                          


     

    Relationship         
                                                                                                      


     

     

     

    Secondary

     

    Name                    
                                                                                                      


     

    Address                
                                                                                                      


     

                                                                                                          


     

    Relationship         
                                                                                                      


     

     

     

    Signed                                                                               


     

    Date         
                                                                        


     

     

     

    Commonwealth of Pennsylvania 
           
)

     

    ) SS:

     

    County of
York                                       
)

     

     

     

     

     

    On this, the _______ day of _______________,
20___, before me a Notary Public, the undersigned personally appeared, known to
me (or satisfactorily proven) to be the person whose name is subscribed to the
within instrument and acknowledged that he or she executed the same for the
purposes therein contained.

     

     

     

    In Witness Whereof, I hereunto set my hand and
official seal.

     

     

     

     

     

                                                                            
 

     

     

     

    Notary Public

     

    
      
         

      

      
         

        
          
 

      

      
         

      

    

     

     

    Schedule
10.20

     

     

     

     

     

    
      	
               Name 

               

            	
              Date
      Credited 

               Service Began 

               

            	
               Normal Monthly Retirement
      Unit 

               

            	
               Pre-Retirement Death
      Benefit 

               

            
	
              Jeffrey R.
      Hines

               

            	
              December
      31, 1989

               

            	
              120.12

               

            	
              3208.33

               

            
	
              Kathleen M.
      Miller

               

            	
              December
      31, 2003

               

            	
              116.14

               

            	
              6666.70

               

            
	
              Vernon L.
      Bracey

               

            	
              December
      31, 2003

               

            	
              122.55

               

            	
              6430.66

               

            
	
              Bruce C.
      McIntosh

               

            	
              December
      31, 1998

               

            	
              146.20

               

            	
              4316.66

               

            


    

     

    
      Back to Form
10-K