Document:

EXHIBIT 10-17

      
        

        

        

        

        

        

        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 10.17

        

        

        

        

        	
                Name

              	
                Date Credited

                Service Began

              	
                Date Credited

                Service Ended

              	
                Normal Monthly Retirement Unit

              	
                Pre-Retirement Death Benefit

              
	
                Joseph T. Hand

              	
                December 31, 2019

              	 	
                401.50

              	
                800,000

              
	
                Joseph T. Hand

              	
                December 31, 2009

              	
                December 31, 2019

              	
                163.40

              	
                -

              
	
                Vernon L. Bracey

              	
                December 31, 2003

              	 	
                122.55

              	
                500,000

              
	
                Mark S. Snyder

              	
                December 31, 2009

              	 	
                111.11

              	
                500,000

              
	
                Matthew E. Poff

              	
                December 31, 2018

              	 	
                163.40

              	
                500,000

              
	
                Natalee Colón

              	
                December 31, 2019

              	 	
                86.81

              	
                500,000

              
	
                Mark J. Hardman

              	
                December 31, 2019

              	 	
                154.33

              	
                500,000EXHIBIT 10-18

     

    

     

    

    
       
         
          

          

        

        The York Water Company

        Amended and Restated

        DEFERRED COMPENSATION PLAN

        (Effective July 1, 2015)

         

        

        
          
            

            

          

          
            

          
            

            

          

        

        RECITALS

        THIS AMENDED AND
            RESTATED DEFERRED COMPENSATION PLAN (the “Plan”) is hereby adopted as of the 1st day of July, 2015, by The York Water Company, a corporation organized and existing under the laws of the Commonwealth of Pennsylvania (the “Plan Sponsor”).

        WHEREAS,
          the Plan Sponsor has previously adopted and established a non-tax qualified plan of deferred compensation to provide additional retirement benefits for a select group of management and highly compensated employees; and

        WHEREAS,
          effective as of July 1, 2015, the Plan Sponsor has amended and restated the Plan in its entirety and intends that the Plan shall at all times be administered and interpreted in such a manner as to constitute an unfunded nonqualified deferred
          compensation plan for tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). This Plan is not intended to qualify for favorable tax treatment pursuant to Section 401(a) of the
          Internal Revenue Code of 1986, as amended (the “Code”), or any successor section or statute. This Plan is intended to comply with the requirements of Section 409A of the Code and the Treasury Regulations (as defined below) or any other
          authoritative guidance issued under that section.

        NOW, THEREFORE,
          the Plan Sponsor hereby adopts the following Amended and Restated Deferred Compensation Plan.

        ARTICLE 1. 

          Definitions

        For the purpose of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms
          shall have the following indicated meanings:

        1.1 “Account or Accounts” shall mean a book account reflecting amounts
            credited to a Participant’s Separation From Service Account, Scheduled Withdrawal Account(s) and Plan Sponsor Contribution Account, as adjusted for deemed investment performance and all distributions or withdrawals made by the Participant or
            his or her Beneficiary. To the extent that it is considered necessary or appropriate, the Plan Administrator shall maintain separate sub-accounts for each source of contribution under the Plan or shall otherwise provide a means for determining
            that portion of an Account attributable to each contribution source.

        1.2 “Affiliate” shall mean any business entity other than the Plan Sponsor
            that is a member of a controlled group of corporations, within the meaning of Section 414(b) of the Code, of which the Plan Sponsor is a member; all other trade or business (whether or not incorporated) under common control, within the meaning
            of Section 414(c) of the Code, with the Plan Sponsor; any service organization other than the Plan Sponsor that is a member of an Affiliated service group, within the meaning of Section 414(m) of the Code, of which the Plan Sponsor is a member;
            and any other organization that is required to be aggregated with the Plan Sponsor under Section 414(o) of the Code and whose Eligible Employees are authorized to participate in this Plan by the Plan Administrator.

        1.3 “Annual Deferral Amount” shall mean that portion of a Participant’s
            Base Salary that a Participant elects to defer under the Plan.

        1.4 “Base Salary” shall mean the annual cash compensation relating to
            services performed during any Plan Year, (excluding bonuses, commissions, overtime, fringe benefits, incentive payments, SERP compensation, non-monetary awards, relocation expenses, retainers, directors fees and other fees, severance
            allowances, pay in lieu of vacations, insurance premiums paid by the Plan Sponsor, insurance benefits paid to the Participant or his or her Beneficiary, stock options and grants, and car allowances) paid to a Participant for services rendered
            to the Plan Sponsor or an Affiliate. Base Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of the Plan Sponsor or an Affiliate
            and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Sections 125, 402(e)(3), 402(h), or 403(b) of the Code pursuant to plans established by the Plan Sponsor; provided, however, that all such
            amounts will be included in compensation only to the extent that, had there been no such plan, the amounts would have been payable in cash to the Participant.

        1.5 “Beneficiary” shall mean one or more persons, trusts, estates or other
            entities that are entitled to receive benefits under this Plan upon the death of the Participant.

        1.6 “Board” shall mean the Board of Directors of Plan Sponsor.

        1.7 “Cause” shall mean any of the following acts or circumstances:

        
          	
                  (a)

                	
                  Willful destruction by the Participant of property of the Plan Sponsor or an Affiliate having a material
                    value to the Plan Sponsor or such Affiliate;

                

        

        
          	
                  (b)

                	
                  fraud, embezzlement, theft, or comparable dishonest activity committed by the Participant (excluding
                    acts involving a de minimis dollar value and not related to the Plan Sponsor or an Affiliate);

                

        

        
          	
                  (c)

                	
                  the Participant’s conviction of or entering a plea of guilty or nolo contendere to any crime
                    constituting a felony or any misdemeanor involving fraud, dishonesty or moral turpitude (excluding acts involving a de minimis dollar value and not related to the Plan Sponsor or an Affiliate);

                

        

        
          	
                  (d)

                	
                  the Participant’s breach, neglect, refusal, or failure to materially discharge the Participant’s duties
                    (other than due to physical or mental illness) commensurate with the Participant’s title and function or the Participant’s failure to comply with the lawful directions of the Board or a senior managing officer of the Plan Sponsor, or of
                    the Board or a senior managing officer of an Affiliate that employs the Participant, in any such case that is not cured within fifteen (15) days after the Participant has received written notice thereof from such Board or senior
                    managing officer;

                

        

        
          	
                  (e)

                	
                  any willful misconduct by the Participant which may cause substantial economic or reputation injury to
                    the Plan Sponsor, including, but not limited to, sexual harassment, or;

                

        

        
          	
                  (f)

                	
                  a willful and knowing material misrepresentation to the Board or a senior managing officer of the Plan
                    Sponsor or to the Board or a senior managing officer of an Affiliate that employs the Participant.

                

        

        1.8 “Claimant” shall mean a person who believes that he or she is being
            denied a benefit to which he or she is entitled hereunder.

        1.9 “Code” shall mean the Internal Revenue Code of 1986, as amended from
            time to time, and the Treasury Regulations promulgated thereunder.

        1.10 “Disability” shall mean a condition of the Participant 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 the Plan Sponsor.  Items (i) and (ii) of this Section 1.10 are permitted provided they are in
            compliance with the requirements of Treasury Regulations Section 1.409A-3(g)(4).  A Participant 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).

        1.11 “Effective Date” of the Plan as amended and restated herein is July 1,
            2015.

        1.12 “Election Form” shall mean the form or forms established from time to
            time by the Plan Administrator on which the Participant irrevocably elects, prior to the first Plan Year in which it is earned (except as provided under the special rule for newly Eligible Employees set forth in Section 2.3 below), his or her
            Annual Deferral Amount for the following Plan Year and each of the seven to ten Plan Years thereafter, and the Participant designates his or her Beneficiary, as required on that form and under the terms of the Plan.

        1.13 “Eligible Employee” shall mean for any Plan Year (or applicable
            portion of a Plan Year), a person who is determined by the Plan Sponsor, or its designee, to be a member of a select group of management or highly compensated employees of the Plan Sponsor or an Affiliate, and who is designated by the Plan
            Sponsor, or its designee, to be an Eligible Employee under the Plan. If the Plan Sponsor determines that an individual first becomes an Eligible Employee during a Plan Year, the Plan Sponsor shall notify the individual of its determination and
            of the date during the Plan Year on which the individual shall first become an Eligible Employee.

        1.14 “Enhanced Benefit” shall mean with respect to the Participants listed
            on Appendix A attached hereto, the Participant’s Vested Account balance, multiplied by the Enhancement Factor.

        1.15 “Enhancement Factor” shall mean the factor listed on Appendix A by
            which the Vested Account balances for the Participants listed on Appendix A shall be multiplied.

        1.16 “Entry Date” shall mean with respect to an Eligible Employee, the
            first day of the pay period following the date on which the Eligible Employee becomes a Participant.

        1.17 “ERISA” shall mean the Employee Retirement Income Security Act of
            1974, as it may be amended from time to time.

        1.18 “FICA Amount” shall mean the Participant’s share of the tax imposed on
            a Participant’s Base Salary and Plan Sponsor Contributions, if any, under the Federal Insurance Contributions Act.

        1.19 “Participant” shall mean (A) any Eligible Employee (i) who is selected
            to participate in this Plan, (ii) who elects to participate in this Plan by signing a Participation Agreement, (iii) who completes and signs certain Election Form(s) required by the Plan Administrator, and (iv) whose signed Election Form(s) are
            accepted by the Plan Administrator or (B) a former Eligible Employee who continues to be entitled to a benefit under this Plan. A spouse or former spouse of a Participant shall not be treated as a Participant in this Plan or have an Account
            balance under this Plan, even if he or she has an interest in the Participant’s benefits under this Plan as a result of applicable law or property settlements resulting from legal separation or marital dissolution or divorce.

        1.20 “Participation Agreement” shall mean the document executed by the
            Eligible Employee and Plan Administrator whereby the Eligible Employee agrees to participate in the Plan.

        1.21 “Permissible Payment Event” shall mean one or more of the following
            events upon which payment may be made to a Participant or his or her Beneficiary under the terms of the Plan: (i) the Participant’s Separation from Service, (ii) the Participant’s death, (iii) the Participant’s Disability, (iv) upon the
            occurrence of an Unforeseeable Emergency, or (v) a time or pursuant to a fixed schedule and/or retirement date specified under the Plan, within the meaning of Treasury Regulations Section 1.409A-3(a).

        1.22 “Plan” shall mean The York Water Company Amended and Restated Deferred
            Compensation Plan, as set forth herein and amended from time to time.

        1.23 “Plan Administrator” shall be the Board or its designee. A Participant
            in the Plan should not serve as a singular Plan Administrator. If a Participant is part of a group of Participants designated as a committee or Plan Administrator, then the Participant may not participate in any activity or decision relating
            solely to his or her individual benefits under the Plan; matters solely affecting the applicable Participant will be resolved by the remaining Plan Administrator members or by the Board.

        1.24 “Plan Sponsor” shall mean The York Water Company, a corporation
            organized and existing under the laws of the Commonwealth of Pennsylvania.

        1.25 “Plan Sponsor Contribution” shall mean the amount contributed to a
            Participant’s Plan Sponsor Contribution Account pursuant to Sections 3.1 and 3.2.

        1.26 “Plan Sponsor Contribution Account”
            shall mean: (i) the sum of the Participant’s Plan Sponsor Contribution amounts, plus (ii) amounts credited (net of amounts debited, which may result in an aggregate negative number) pursuant to Section 3.3.

        1.27 “Plan Year” shall mean the twelve (12) month period beginning January
            1 of each calendar year and continuing through December 31 of such calendar year.

        1.28 “Scheduled Withdrawal Account” shall mean: (i) the sum of the
            Participant’s Annual Deferral Amount(s) plus (ii) the sum of the Participant’s Plan Sponsor Contribution Amount(s) plus (iii) amounts credited (net of amounts debited, which may result in an aggregate negative number pursuant to Section 3.3)[,] less (iv) all distributions made to, or withdrawals by, the Participant or his or her Beneficiary, and tax withholding amounts which may have
            been deducted from the Scheduled Withdrawal Account(s).

        1.29 “Section 409A” shall mean Section 409A of the Code and the Treasury
            Regulations or other authoritative guidance issued under that section.

        1.30 “Separation from Service” shall mean a Participant’s termination of
            active employment, whether voluntary or involuntary, other than by death, Disability, or leave of absence with the Plan Sponsor or Affiliate(s), within the meaning of Section 409A(a)(2)(A)(i) of the Code, and the Treasury Regulations thereto.

        1.31 “Separation From Service Account” shall mean (i) the sum of the
            Participant Annual Deferral Amount(s) plus (ii) amounts credited (net of amounts debited, which may result in an aggregate negative number) pursuant to Section 3.3 less (iii) all distributions made to or withdrawals by the Participant or his or
            her Beneficiary that relate to the Participant’s Separation From Service Account, and tax withholdings amounts deducted (if any) from the Participants’ Separation From Service Account.

        1.32 “Specified Employee” shall mean 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),) of the Plan Sponsor the stock of which is publicly traded on an established securities market or otherwise
            within the meaning of Section 409A(2)(B)(i). Notwithstanding other provisions of this Plan to the contrary, distributions by the Plan Sponsor to Specified Employees (if any) may not be made before the date which is six (6) months after the date
            of Separation from Service (or, if earlier, the date of death of the Specified Employee) within the meaning of Treasury Regulations Section 1.409A-3(g)(2). If payments to a Specified Employee are to be made in installments each installment
            payment to which a Specified Employee is entitled upon a Separation from Service will be delayed by six (6) months. A Participant meeting the definition of Specified Employee on December 31 or during a 12 month period ending December 31 will be
            treated as a Specified Employee for the 12 month period commencing the following April 1.

        1.33  “Treasury Regulations” shall mean regulations promulgated by the
            Internal Revenue Service for the U.S. Department of the Treasury, either proposed, or permanent, and as may be amended from time to time.

        1.34 “Trust” shall mean one or more grantor trusts, of which the Plan
            Sponsor is the grantor, within the meaning of subpart E, part I, subchapter J, subtitle A of the Code, to pay benefits under this Plan, that may be established in accordance with the terms of the Plan.

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

        1.36 “Vested Account” shall mean a Participant’s Separation from Service
            Account balance plus Plan Sponsor Contribution Account balance plus other amounts vested in accordance with Section 4.1 below.

        ARTICLE 2. 

          Selection, Enrollment, Eligibility

        2.1 Selection by Plan Sponsor. Participation in this Plan shall be
            limited to a select group of management or highly compensated employees of the Plan Sponsor, as determined by the Plan Sponsor in its sole and absolute discretion. The initial group of Eligible Employees shall become Participants on the
            Effective Date of the Plan. Any individual selected by the Plan Administrator as an Eligible Employee after the Effective Date, shall become a Participant on the first Entry Date occurring on or after the date on which he or she becomes an
            Eligible Employee, provided that the Eligible Employee meets the enrollment requirements set forth in Section 2.3 below.

        2.2 Re-Employment.  If a Participant who incurs a Separation from
            Service with the Plan Sponsor or an Affiliate is subsequently re-employed, he or she may, at the sole and absolute discretion of the Plan Administrator, become a Participant in accordance with the provisions of above Section 2.1.

        2.3 Enrollment Requirements. As a condition to participation in
            this Plan, each selected Eligible Employee shall complete, execute, and return to the Plan Administrator a Participation Agreement and Election Form within the time specified by the Plan Administrator, but in no event later than thirty (30)
            days following the date that an Eligible Employee is first selected by the Plan Sponsor to participate in the Plan in accordance with Section 2.1 above; provided, however, that any Base Salary deferral election shall be effective only with
            regard to Base Salary earned following submission of the Participation Agreement and Election Form to the Plan Administrator.  In addition, the Plan Administrator shall establish such other enrollment requirements as it determines necessary or
            advisable. All elections to defer Base Salary with respect to a Plan Year shall be irrevocable, except as permitted under Section 5.8 below (Unforeseeable Emergency).

        2.4 Plan Aggregation Rules.  This Plan shall constitute an “account
            balance plan” as defined in Treasury Regulations Section 31.3121(v)(2)-1(c)(1)(ii)(A).  For purposes of Section 409A, all amounts deferred by or on behalf of a Participant under this Plan shall be aggregated with deferred amounts under other
            “account balance plans” currently maintained or adopted in the future by the Plan Sponsor, and all amounts shall be treated as deferred under the rules governing a single plan.

        2.5 Termination of Participation. If the Plan Administrator
            determines that a Participant who has not experienced a Separation from Service no longer qualifies as a member of a select group of management or highly compensated employees or that such a Participant’s participation in the Plan could
            jeopardize the status of this Plan as “unfunded” and “maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees,” the Plan Administrator shall have
            the right to terminate any deferral election the Participant has made for any Plan Year following the Plan Year in which the Participant is determined by the Plan Administrator to no longer qualify as a member of a select group of management or
            highly compensated employees but only to the extent such termination complies with the requirements of Section 409A, and/or to prevent the Participant from making future deferral elections and receiving Plan Sponsor Contribution Amounts under
            the Plan.

        ARTICLE 3. 

          Contributions and Credits

        3.1 Plan Sponsor Discretionary Contributions. The Plan Sponsor may
            make discretionary contributions to the Participant’s Plan Sponsor Contribution Account as it may determine from time to time and may direct that such contributions be allocated to those Participants that it may select. The amount so credited
            to a Participant may be smaller or larger than the amount credited to any other Participant, and the amount credited to any Participant for a Plan Year may be zero. No Participant shall have a right to compel the Plan Sponsor to make a Plan
            Sponsor discretionary contribution under this Article and no Participant shall have the right to share in any such contribution for any Plan Year unless selected by the Plan Sponsor, in its sole and absolute discretion.

        3.2 Plan Sponsor Non-Discretionary
                Contributions The Plan Sponsor shall make a non-discretionary contribution/match equal to 2.5% of the Participant’s base salary, Section 1.4, as of the Participant’s date of initial eligibility for each year the Participant
            contributes to the Plan, not to exceed eleven (11) years.

        3.3 Account Earnings.  From time to time, as appropriate, the Plan
            Sponsor will also credit the Participant’s Plan Sponsor Contribution Account and the Participant’s Separation
                from Service Account with interest on the existing credit balance at a rate determined at the sole discretion of the Plan Sponsor, said rate to EQUAL THE DECEMBER 31 RATE OF MOODY’S AAA CORPORATE BOND YIELD FORECAST for the first Plan Year and for all subsequent periods unless changed by the Plan Sponsor.  No interest shall be credited to any Participant’s
            account(s) after a Separation from Service.

        ARTICLE 4. 

          Vesting and Taxes

        4.1 Vesting of Benefits.

        
          	
                  (a)

                	
                  A Participant shall be 100% vested in his or her Separation from Service Account, Section 1.31, at all times.

                

        

        
          	
                  (b)

                	
                  A Participant shall be 100% vested in Plan Sponsor Contribution Account, Section 1.26, after ten (10)
                    complete years of plan participation.

                

        

        
          	
                  (c)

                	
                  A Participant shall be 100% vested in the Permissible Payment Event Calculation, Section 5.15(b), after
                    fifteen (15) complete years of plan participation.

                

        

        
          	
                  (d)

                	
                  Notwithstanding Section 4.1, (b), (c), a Participant shall be 100% vested in all accounts (including
                    gross up as set forth in Section 5.15 below) when the Participant attains the age of 60.

                

        

        
          	
                  (e)

                	
                  A Participant shall be 100% vested in the Enhanced Benefit, Section 1.14 and the Enhancement Factor,
                    Section 1.15 when the Participant attains the age of 60.

                

        

        
          	
                  (f)

                	
                  In the event the Participant’s employment is terminated for Cause, no benefits of any kind will be due
                    or payable under the terms of this Plan from amounts credited to a Participant’s Plan Sponsor Contribution Account nor shall the Permissible Payment Event Calculation be engaged to determine any Participant benefit and all rights of the
                    Participant, his or her designated Beneficiary, executors, or administrators, or any other person, to receive payments thereof shall be forfeited.  This Section 4.1(f) shall apply to a Participant’s Plan Sponsor Contribution Account and
                    Permissible Payment Event Calculation whether or not such amounts or calculations are vested pursuant to Section 4.1 (b), (c), (d), (e).

                

        

        4.2 FICA, Withholding and Other Taxes.

        
          	
                  (a)

                	
                  Pre-Distribution

                        Tax Withholdings. The Plan Sponsor, or trustee of the Trust, shall withhold the FICA amount and other employment taxes from the Participant’s Base Salary in a manner determined in the sole discretion of the Plan Sponsor
                    as a Participant becomes vested in his or her accounts and calculation pursuant to Section 4.1 (a), (b), (c), (d) and (e), as applicable.

                

        

        
          	
                  (b)

                	
                  Distributions.
                    The Plan Sponsor, or trustee of the Trust, shall withhold from any payments made to a Participant or Beneficiary under this Plan all federal, state and local income, employment and other taxes required to be withheld by the Plan Sponsor
                    that complies with applicable tax withholding requirements.

                

        

        ARTICLE 5. 

          Permissible Payment Events, Changes in Time and Form of Payments, Method of Payments

        5.1 Payment Following Death While Actively Employed.  In the event
            of the Participant’s death while actively employed, and provided that the Plan Sponsor is first provided a valid death certificate, the
            Participant’s Beneficiary shall be paid the higher of (a) $150,000 or (b) the Participant’s Vested Account balance (including gross up as set forth in Section 5.15 and enhancement as set forth in Section 5.16 below) with payment being made in a
            single lump sum within ninety (90) days following the date of death of the Participant (without regard to whether the Participant was a Specified Employee) to the Participant’s Beneficiary.

        5.2 Payment Following a Separation From Service with Less Than Ten Complete
                Years in the Plan.  If a Participant Separates from Service prior to attaining ten (10) complete years in the Plan, the Participant’s Separation from Service Account balance in accordance with Section 4.1(a), (b) shall be paid in
            a lump sum within ninety (90) days following the Participant’s Separation from Service.  Notwithstanding the above, if the Participant is a Specified Employee, Section 1.32, such payment shall instead be made or commence six (6) months after
            the Participant’s Separation from Service.

        5.3 Payment Following a Separation From Service with Ten Complete Years in the
                Plan, but Less Than Fifteen Complete Years in the Plan and Less Than Sixty Years of Age.  A Participant shall be paid his or her Scheduled Withdrawal Account balance in accordance with Section 4.1 with payments being made or
            commencing within ninety (90) days following the Participant’s Separation from Service and the attainment of age sixty (60). Notwithstanding the above, if the Participant is a Specified Employee, Section 1.32, such payment shall instead be made
            or commence six (6) months after the Participant’s Separation from Service.

        5.4 Payment Following a Separation From Service with Fifteen or More Complete
                Years in the Plan and Less Than Sixty Years of Age.  A Participant shall be paid his or her Scheduled Withdrawal Account balance in accordance with Section 4.1 with payments being made or commencing within ninety (90) days
            following the Participant’s Separation from Service and the attainment of age sixty (60).  Notwithstanding the above, if the Participant is a Specified Employee, Section 1.32, such payment shall instead be made or commence six (6) months after
            the Participant’s Separation from Service.

        

        

        5.5 Payment Following a Separation From Service at Age Sixty or More. 

            A Participant shall be paid his or her Vested Account balance in accordance with Section 4.1 with payments being made or commencing within ninety (90) days following the Participant’s Separation from Service at age sixty (60) or more. 
            Notwithstanding the above, if the Participant is a Specified Employee, Section 1.32, such payment shall instead be made or commence six (6) months after the Participant’s Separation from Service.

        5.6 Payment Following Disability. In the event of a Participant’s
            Disability, the Participant shall be paid his or her Vested Account balance with payment or payments being made or commencing within ninety (90) days following the determination of a Participant’s Disability.  Amounts shall be distributed
            according to the form of payment set forth in Section 5.9(b) below.

        5.7 Payment Following Death After Receiving Payments. In the event
            of the Participant’s death after he or she begins receiving payments pursuant to the terms of the Plan, and
                provided that the Plan Sponsor is first provided a valid death certificate, the
            Participant’s designated Beneficiary shall be paid the Participant’s remaining Vested Account balance in a single lump sum within ninety (90) days following the date of death of the Participant (without regard to whether the Participant was
            treated as a Specified Employee).

        5.8 Payment in the Event of an Unforeseeable Emergency. If the
            Participant experiences an Unforeseeable Emergency, the Participant may petition the Plan Administrator for payment of an amount that shall not exceed the lesser of: (i) the Participant’s vested Account(s), or (ii) the amount reasonably needed
            to satisfy the Unforeseeable Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the payment. A Participant may not receive such a payment to the extent that the Unforeseeable Emergency is or may be relieved: (i)
            through reimbursement or compensation by insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship. If the Plan Administrator
            approves a Participant’s petition for a payment then the Participant shall receive said payment, in lump sum,  as soon as administratively feasible after such approval.

        5.9 Method of Payments.

        
          	
                  (a)

                	
                  Cash.
                    All distributions under the Plan made under the Plan shall be made in cash.

                

        

        
          	
                  (b)

                	
                  Form
                        of Payment. Upon the occurrence of a Permissible Payment Event, the Account(s) shall be calculated as of the date of said event. Installment payments made after the first payment shall be paid on or about the applicable
                    modal anniversary of the first payment date until all required installments have been paid.  Except as otherwise stated in Sections 5.1 and 5.2 above, which provide for lump sum payments, the amount of each payment shall be determined
                    in accordance with Section 5.15 below. Lump sum payment may not be elected by the Participant.

                

        

        
          	
                  (c)

                	
                  Lump
                        Sum Payment of Minimum Account Balances. Notwithstanding anything else contained herein to the contrary, if the Vested Account balance for a Participant at the due date of the first installment is ten thousand dollars
                    ($10,000.00) or less, payment of the Account(s) shall be made instead in a lump sum on the due date of the first installment, and no installment payments shall be available.

                

        

        5.10 No Accelerations. Notwithstanding anything in this Plan to the
            contrary, no change submitted on a Participant Election Form shall be accepted by the Plan Sponsor.  The Plan Sponsor may, however, accelerate certain distributions under the Plan to the extent permitted under Section 409A as follows:

        
          	
                  (a)

                	
                  Conflicts

                        of Interest. The Plan will permit such acceleration of the time or schedule of payment under the Plan as may be necessary to comply with a certificate of divesture.

                

        

        
          	
                  (b)

                	
                  De
                        Minimis and Specified Amounts. The Plan will permit the acceleration of the time or schedule of payment to a Participant, provided that (i) the payment accompanies the termination in the entirety of the Participant’s
                    interest in the Plan; (ii) the payment is made on or before the later of: (A) December 31 of the Plan Year in which occurs the Participant’s Separation from Service from the Plan Sponsor, or (B) the date is 2 1⁄2 months after the
                    Participant’s Separation from Service from the Plan Sponsor; and (iii) the payment is not greater than $10,000.

                

        

        
          	
                  (c)

                	
                  Payment

                        of Employment Taxes. The Plan will permit the acceleration of the time or schedule of a payment to pay the FICA Amount. Additionally, the Plan will permit the acceleration of the time or schedule of a payment to pay the
                    income tax on wages imposed as a result of the payment of the FICA amount, and to pay the additional income tax on wages attributable to the pyramiding wages and taxes. However, the total payment under this acceleration provision will
                    not exceed the aggregate of the FICA Amount, and the income tax withholding related to such FICA Amount in accordance with the requirement of Treasury Regulations Section 1.409A-3(j)(4)(vi).

                

        

        
          	
                  (d)

                	
                  Payment

                        upon Income Inclusion under Section 409A.  The Plan will permit the acceleration of the time or schedule of a payment to a Participant at any time the Plan fails to meet the requirements of Section 409A.  Such Payment may
                    not exceed the amount required to be included in income as a result of the failure to comply with the requirements of Section 409A.

                

        

        5.11 Unsecured General Creditor Status of Participant.

        
          	
                  (a)

                	
                  Payment to the Participant or any Beneficiary hereunder shall be made from assets which shall continue,
                    for all purposes, to be part of the general, unrestricted assets of the Plan Sponsor and no person shall have any interest in any such asset by virtue of any provision of this Plan. The Plan Sponsor’s obligation hereunder shall be an
                    unfunded and unsecured promise to pay money in the future.  To the extent that any person acquires a right to receive payments from the Plan Sponsor under the provisions hereof, such right shall be no greater than the right of any
                    unsecured general creditor of the Plan Sponsor and no such person shall have or acquire any legal or equitable right, interest or claim in or to any property or assets of the Plan Sponsor.

                

        

        
          	
                  (b)

                	
                  In the event that the Plan Sponsor purchases an insurance policy or policies insuring the life of a
                    Participant or employee, to allow the Plan Sponsor to recover or meet the cost of providing benefits, in whole or in part, hereunder, no Participant or Beneficiary shall have any rights whatsoever in said policy or the proceeds there
                    from. The Plan Sponsor, or Trustee, shall be the primary owner and beneficiary of any such insurance policy or property and shall possess and may exercise all incidents of ownership therein.

                

        

        
          	
                  (c)

                	
                  In the event that the Plan Sponsor purchases an insurance policy or policies on the life of a
                    Participant as provided for above, then all of such policies shall be subject to the claims of the creditors of the Plan Sponsor.

                

        

        
          	
                  (d)

                	
                  If the Plan Sponsor chooses to obtain insurance on the life of a Participant in connection with its
                    obligations under this Plan, the Participant hereby agrees to take such physical examinations and to truthfully and completely supply such information as may be required by the Plan Sponsor or the insurance company designated by the
                    Plan Sponsor.

                

        

        5.12 Facility of Payment.  If a distribution is to be made to a
            minor, or to a person who is otherwise incompetent, then the Plan Administrator may make such distribution: (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his or her residence, or (ii) to the
            conservator or administrator or, if none, to the person having custody of an incompetent payee. Any such distribution shall fully discharge the Plan Sponsor and the Plan Administrator from further liability on account thereof.

        5.13 Excise Tax Limitation:  In the event that any payment or
            benefit (within the meaning of Section 280G(b)(2) of the Code) to the Participant or for the Participant’s benefit paid or payable or distributed or distributable (including, but not limited to, the acceleration of the time for the vesting or
            payment of such benefit or payment) pursuant to the terms of this Plan or otherwise in connection with, or arising out of, the Participant’s employment with the Plan Sponsor or any of its Affiliates or a Change of Control within the meaning of
            Section 280G of the Code (a “Payment” or “Payments”), would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Payments shall be reduced (but not below zero) but only to the extent necessary that no
            portion thereof shall be subject to the Excise Tax (the “Section 4999 Limit”).  The Payments shall be reduced on a nondiscretionary basis in such a way as to minimize
              the reduction in the economic value deliverable to the Participant.  Where more than one payment has the same value for this purpose and they are payable at different times they will be reduced on a pro rata basis.

        5.14 Delay in Payment by Plan Sponsor.  In the case of payments by
            the Plan Sponsor to a Participant or Participant’s Beneficiary, the deduction for which would be limited or eliminated by the application of Section 162(m) of the Code, payments that would otherwise violate securities laws, or payments that
            would violate loan covenants or other contractual terms to which the Participant is a party, and where such a violation would result in material harm to the Plan Sponsor, said payments may be delayed.  In the case of deduction limitations
            imposed by Section 162(m) of the Code, payment will be deferred until the earlier of (i) a date in the first year in which the Plan Sponsor reasonably anticipates that a payment of such amount would not result in a limitation under 162(m) or
            (ii) the year in which the Participant Separates from Service.  Payments delayed for other permissible reasons must be made in the first calendar year in which the Plan Sponsor reasonably anticipates that the payment would not violate the loan
            contractual terms, the violation would not result in material harm to the Plan Sponsor, or the payment would not result in a violation of Federal securities law or other applicable laws.

        5.15 Permissible Payment Event Calculation.

        (a) The Plan Sponsor agrees that in determining the benefits payable under Section 5.3, above, that the amount of each monthly payment
            actually made to the Participant or his or her Beneficiary will be determined by dividing his or her Scheduled Withdrawal Account balance prior to the first payment by 120.

        Example Without Tax Savings:

        

        

        Scheduled Withdrawal Account Value at age 60 = $100,000.00. (Participant Separated from Service Prior to vesting of Tax Saving Multiplier)

        

        

        Step 1: Actual Benefit to be paid each year: $100,000/10 years = $10,000

        

        

        Step 2: Actual Benefit to be paid each month: $100,000/120 = $833.34

        

        

        (b) The Plan Sponsor agrees that in determining the benefits payable under Sections 5.4 above, that the amount of each monthly
            payment actually made to the Participant or his or her Beneficiary will be determined by dividing his or her Scheduled Withdrawal Account balance prior to the first payment by 120 and then increasing the amount by the amount of federal and
            state income tax saved by the Plan Sponsor (if any) when making each payment.  The savings will be calculated based on the marginal federal and state income tax bracket for the Plan Sponsor at the time of separation from service.

        Example With Tax Savings without Enhancement Factor:

        

        

        Scheduled Withdrawal Account Value at age 60 = $100,000.00.  Corporate Marginal Tax Rate is 0.4059. Participant
          Separated from Service Prior to age 60.

        
          
            	

                  	Step 1:	
                    Determine Tax Savings Multiplier (1 minus Tax Bracket %, or 1-.4059 = .5941)

                  

          

        

        
          
            	

                  	Step 2:	
                    Calculate Actual Benefit To Be Paid (Divide Account Value by the Tax Savings Multiplier, or $100,000 divided by .5941 = $168,321.84)

                  

          

        

        
          
            	

                  	Step 3:	
                    Actual Benefit to be paid each year: $168,321.84/10 years =$16,832.18

                  

          

        

        
          
            	

                  	Step 4:	
                    Actual Benefit to be paid each month: $168,321.84/120 = $1,402.68

                  

          

        

        (c) The Plan Sponsor agrees that in determining the benefits payable under Sections 5.1, 5.5 and 5.6 above, that the amount of
            each monthly payment actually made to the Participant or his or her Beneficiary will be determined by dividing his or her Scheduled Withdrawal Account balance  prior to the first payment by 120 and then increasing the amount by the amount of
            federal and state income tax saved by the Plan Sponsor (if any) when making each payment, then increasing the grossed up amount to the Enhanced Benefit described in Section 5.16 below.  The tax savings will be calculated based on the marginal
            federal and state income tax bracket for the Plan Sponsor.

        Example With Tax Savings and Enhancement Factor:

        

        

        Scheduled Withdrawal Account Value at age 65 = $100,000.00.  Corporate Marginal Tax Rate is 0.4059. Monthly
          Enhancement Factor .0115.

        
          
            	

                  	Step 1:	
                    Determine Tax Savings Multiplier (1 minus Tax Bracket %, or 1-.4059 = .5941)

                  

          

        

        
          
            	

                  	Step 2:	
                    Calculate Grossed Up Benefit (Divide Account Value by the Tax Savings Multiplier, or $100,000 divided by .5941 = $168,321.84)

                  

          

        

        
          
            	

                  	Step 3:	
                    Calculate Enhanced Benefit to be paid each year (Grossed Up Benefit multiplied by Annual Enhancement Factor or $168,321.84 multiplied by .138 (.0115 times 12) =
                      $23,228.41

                  

          

        

        
          
            	

                  	Step 4:	
                    Calculate Enhanced Benefit to be paid each month : $23,228.41 divided by 12 months = $1,935.70

                  

          

        

        5.16 Enhanced Benefit.  Notwithstanding anything to the contrary in
            this Section 5, Participants listed on Appendix A shall be entitled to the Enhanced Benefit, which shall be payable at the time and in the forms indicated in Sections 5.1, 5.5 and 5.6, and Section 5.15, as applicable.

        ARTICLE 6. 

          Beneficiary Designation

        6.1 Designation of Beneficiaries.

        
          	
                  (a)

                	
                  Each Participant may designate any person or persons (who may be named contingently or successively) to
                    receive any benefits payable under the Plan upon the Participant’s death, and the designation may be changed from time to time by the Participant by filing a new designation. Each designation will revoke all prior designations by the
                    same Participant, shall be in the form prescribed by the Plan Administrator, and shall be effective only when filed in writing with the Plan Administrator during the Participant’s lifetime.

                

        

        
          	
                  (b)

                	
                  In the absence of a valid Beneficiary designation, or if, at the time any benefit payment is due to a
                    Beneficiary, there is no living Beneficiary validly named by the Participant, the Plan Sponsor shall pay the benefit payment to the Participant’s spouse, if then living, and if the spouse is not then living to the Participant’s then
                    living descendants, if any, per stirpes, and if there are no living descendants, to the Participant’s estate. In determining the existence or identity of anyone entitled to a benefit payment, the Plan Sponsor may rely conclusively upon
                    information supplied by the Participant’s personal representative, executor or administrator.

                

        

        
          	
                  (c)

                	
                  If a question arises as to the existence or identity of anyone entitled to receive a death benefit
                    payment under the Plan, or if a dispute arises with respect to any death benefit payment under the Plan, the Plan Sponsor may distribute the payment to the Participant’s estate without liability for any tax or other consequences, or may
                    take any other action which the Plan Sponsor deems to be appropriate.

                

        

        6.2 Information to be Furnished by Participants and Beneficiaries; Inability
                to Locate Participants or Beneficiaries. Any communication, statement or notice addressed to a Participant or to a Beneficiary at his or her last post office address as shown on the Plan Sponsor’s records shall be binding on the
            Participant or Beneficiary for all purposes of this Plan. The Plan Sponsor shall not be obligated to search for any Participant or Beneficiary beyond the sending of a registered letter to the last known address.

        ARTICLE 7. 

          Termination, Amendment or Modification

        7.1 Plan Termination.  The Plan Sponsor reserves the right to
            terminate the Plan in accordance with one of the following, subject to the restrictions imposed by Section 409A:

        
          	
                  (a)

                	
                  Corporate

                        Dissolution or Bankruptcy. Distributions will be made if the Plan is terminated within twelve (12) months of a corporate dissolution taxed under Section 331 of the Code, or with the approval of a bankruptcy court pursuant
                    to 11 U.S.C. Section 503(b)(1)(A), provided that the amounts deferred under the Plan are included in the Participant’s gross income in the latest of:

                

        

        
          	
                  (i)

                	
                  The calendar year in which the Plan termination occurs;

                

        

        
          	
                  (ii)

                	
                  The calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or

                

        

        
          	
                  (iii)

                	
                  The first calendar year in which the payment is administratively practicable.

                

        

        
          	
                  (b)

                	
                  Discretionary

                        Termination. The Plan Sponsor may also terminate the Plan and make distributions provided that:

                

        

        
          	
                  (i)

                	
                  All plans sponsored by the Plan Sponsor that would be aggregated with any terminated arrangements under
                    Treasury Regulations Section 1.409A-1(c) are terminated;

                

        

        
          	
                  (ii)

                	
                  No payments other than payments that would be payable under the terms of the Plan if the termination had
                    not occurred are made within twelve (12) months of the Plan termination;

                

        

        
          	
                  (iii)

                	
                  All payments are made within twenty-four (24) months of the Plan termination;

                

        

        
          	
                  (iv)

                	
                  Termination of the Plan does not occur proximate to a downturn in the financial health of the Plan
                    Sponsor; and

                

        

        
          	
                  (v)

                	
                  The Plan Sponsor does not adopt a new plan that would be aggregated with any terminated plan if the same
                    Participant participated in both arrangements, at any time within three (3) years following the date of termination of the Plan.

                

        

        The Plan Sponsor also reserves the right to suspend the operation of the Plan for a fixed or indeterminate period
          of time.

        
          	
                  (c)

                	
                  [Change in Control.  The Plan Sponsor may also terminate the Plan and make distributions provided that:

                

        

        
          	
                  (i)

                	
                  All plans sponsored by the Plan Sponsor that would be aggregated with any terminated arrangements under
                    Treasury Regulations Section 1.409A-1(c) are liquidated and terminated;

                

        

        
          	
                  (ii)

                	
                  The Plan is terminated within thirty (30) days preceding or twelve (12) months following a change in
                    control that constitutes a “change in control event” within the meaning of such term under Treasury Regulations Section 1.409A-3(i)(5); and

                

        

        
          	
                  (iii)

                	
                  Participants receive all amounts of deferred compensation from the plans identified in Section 7.1(c)(i)
                    above within twelve (12) months of the date the Plan Sponsor takes all steps to terminate and liquidate the plans identified in Section 7.1(c)(i) above.]

                

        

        7.2 Amendment.  The Plan Sponsor may, at any time, amend or modify
            this Plan in whole or in part; provided, however, that, except to the extent necessary to bring the Plan into compliance with Section 409A: (i) no amendment or modification shall be effective to decrease the value or vested percentage of a
            Participant’s Account(s), in existence at the time an amendment or modification is made, and (ii) no amendment or modification shall materially and adversely affect the Participant’s rights to be credited with additional amounts on such
            Account(s), or otherwise materially and adversely affect the Participant’s rights with respect to such Account(s). The amendment or modification of this Plan shall have no effect on any Participant or Beneficiary who has become entitled to the
            payment of benefits under this Plan as of the date of the amendment or modification.

        ARTICLE 8. 

          Administration

        8.1 Plan Administrator Duties.  The Plan Administrator shall be
            responsible for the management, operation and administration of the Plan. The Plan Administrator shall act at meetings by affirmative vote of a majority of its members. Any action permitted to be taken at a meeting may be taken without a
            meeting if, prior to such action, a unanimous written consent to the action is signed by all members and such written consent is filed with the minutes of the proceedings of the Plan Administrator. A member shall not vote or act upon any matter
            which relates solely to himself or herself as a Participant. The Chair or any other member or members of the Plan Administrator designated by the Chair may execute any certificate or other written direction on behalf of the Plan Administrator.
            When making a determination or calculation, the Plan Administrator shall be entitled to rely on information furnished by a Participant or the Plan Sponsor. No provision of this Plan shall be construed as imposing on the Plan Administrator any
            fiduciary duty under ERISA or other law, or any duty similar to any fiduciary duty under ERISA or other law.

        8.2 Plan Administrator Authority.  The Plan Administrator shall
            enforce this Plan in accordance with its terms, shall be charged with the general administration of this Plan, and shall have all powers necessary to accomplish its purposes, including, but not by way of limitation, the following:

        
          	
                  (a)

                	
                  To construe and interpret the terms and provisions of this Plan;

                

        

        
          	
                  (b)

                	
                  To compute and certify the amount and kind of benefits payable to Participants and their Beneficiaries;
                    to determine the time and manner in which such benefits are paid; and to determine the amount of any withholding taxes to be deducted;

                

        

        
          	
                  (c)

                	
                  To maintain all records that may be necessary for the administration of this Plan;

                

        

        
          	
                  (d)

                	
                  To provide for the disclosure of all information and the filing or provision of all reports and
                    statements to Participants, Beneficiaries or governmental agencies as shall be required by law;

                

        

        
          	
                  (e)

                	
                  To make and publish such rules for the regulation of this Plan and procedures for the administration of
                    this Plan as are not inconsistent with the terms hereof;

                

        

        
          	
                  (f)

                	
                  To administer this Plan’s claims procedures;

                

        

        
          	
                  (g)

                	
                  To approve election forms and procedures for use under this Plan; and

                

        

        
          	
                  (h)

                	
                  To appoint a plan record keeper or any other agent, and to delegate to them such powers and duties in
                    connection with the administration of this Plan as the Plan Administrator may from time to time prescribe.

                

        

        8.3 Binding Effect of Decision. The decision or action of the Plan
            Administrator with respect to any question arising out of or in connection with the administration, interpretation and application of this Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon
            all persons having any interest in this Plan.

        8.4 Compensation, Expenses and Indemnity. The Plan Administrator
            shall serve without compensation for services rendered hereunder. The Plan Administrator is authorized at the expense of the Plan Sponsor to employ such legal counsel and/or Plan record keeper as it may deem advisable to assist in the
            performance of its duties hereunder. Expense and fees in connection with the administration of this Plan shall be paid by the Plan Sponsor.

        8.5 Plan Sponsor Information. To enable the Plan Administrator to
            perform its functions, the Plan Sponsor shall supply full and timely information to the Plan Administrator, on all matters relating to the Base Salary of its Participants, the date and circumstances of the Disability, death, or Separation from
            Service of its employees who are Participants, and such other pertinent information as the Plan Administrator may reasonably require.

        8.6 Periodic Statements. Under procedures established by the Plan
            Administrator, a Participant shall be provided a statement of account on an annual basis (or more frequently as the Plan Administrator shall determine) with respect to such Participant’s Accounts.

        ARTICLE 9. 

          Claims Procedures

        9.1 Claims Procedure. This Article is based on final regulations
            issued by the Department of Labor and published in the Federal Register on November 21, 2000 and codified in Section 2560.503-1 of the Department of Labor Regulations. If any provision of this Article conflicts with the requirements of those
            regulations, the requirements of those regulations will prevail.

        
          	
                  (a)

                	
                  Claim.
                    A Participant or Beneficiary (hereinafter referred to as a “Claimant”) who believes he or she is entitled to any Plan benefit under this Plan may file a claim with the Plan Administrator. The 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 benefits), unless, for
                    claims not involving Disability benefits, the Claimant receives written notice from the Plan Administrator or appointee of the 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 benefits, the Plan Administrator
                    will notify the Claimant within the initial forty-five (45) day period that the 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 benefits, the Plan Administrator may notify the Claimant of an additional thirty (30) day extension.  If the
                    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 Plan 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 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 Plan’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 the Plan Administrator within sixty (60) days after receiving notice of denial (one hundred eighty (180) days in the case of a claim involving
                    Disability benefits). The decision upon review will be made within sixty (60) days after the Plan Administrator’s receipt of a request for review (forty-five (45) days in the case of a claim involving Disability 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 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 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 the 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, the 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 Plan 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 Plan’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 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 similar 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 9.2 below, all
          interpretations, determinations and decisions of the Plan Administrator in respect of any claim shall be made in its sole discretion based on the applicable Plan 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 Plan
                    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 Plan to Follow Procedures. If the Plan 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 Plan
                    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 Plan.

                

        

        9.2 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 Plan 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 the Plan Sponsor 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 9.2, all determinations of the arbitrators in respect of any claim shall be final, conclusive and
              binding on all parties.

        ARTICLE 10. 

          The Trust

        10.1 Establishment of Trust.  The Plan Sponsor may establish a
            Trust. If the Plan Sponsor establishes a Trust, all benefits payable under this Plan to a Participant shall be paid directly by the Plan Sponsor from the Trust. To the extent such benefits are not paid from the Trust, the benefits shall be paid
            from the general assets of the Plan Sponsor.  The Trust, if any, shall be an irrevocable grantor trust which conforms to the terms of the model trust as described in IRS Revenue Procedure 92-64, I.R.B. 1992-33.  If the Plan Sponsor establishes
            a Trust, the assets of the Trust will be subject to the claims of the Plan Sponsor’s creditors in the event of its insolvency. Except as may otherwise be provided under the Trust, the Plan Sponsor shall not be obligated to set aside, earmark or
            escrow any funds or other assets to satisfy its obligations under this Plan, and the Participant and/or his or her designated Beneficiaries shall not have any property interest in any specific assets of the Plan Sponsor other than the unsecured
            right to receive payments from the Plan Sponsor, as provided in this Plan.

        10.2 Interrelationship of the Plan and the Trust.  The provisions of
            the Plan shall govern the rights of a Participant to receive distributions pursuant to the Plan.  The provisions of the Trust (if established) shall govern the rights of the Participant and the creditors of the Plan Sponsor to the assets
            transferred to the Trust. Each shall at all times remain liable to carry out its obligations under the Plan.  The Plan Sponsor’s obligations under the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust.

        10.3 Contribution to the Trust.  Amounts may be contributed by the
            Plan Sponsor to the Trust at the sole discretion of the Plan Sponsor.

        ARTICLE 11. 

          Miscellaneous

        11.1 Validity.  In case any provision of this Plan shall be illegal
            or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. To the extent any
            provision of the Plan is determined by the Plan Administrator (acting in good faith), the Internal Revenue Service, the United States Department of the Treasury or a court of competent jurisdiction to fail to comply with Section 409A with
            respect to any Participant or Participants, such provision shall have no force or effect with respect to such Participant or Participants.

        11.2 Nonassignability. Neither a Participant nor any other person
            shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part hereof,
            which are, and all rights to which are expressly declared to be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment (except to the extent the Plan
            Sponsor may be required to garnish amounts from payments due under this Plan pursuant to applicable law) or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be
            transferable by operation of law in the event of a Participants’ or any other persons’ bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise. If any Participant, Beneficiary or successor in
            interest is adjudicated bankrupt or purports to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber transfer, hypothecate, alienate or convey in advance of actual receipt, the amount, if any, payable hereunder,
            or any part thereof, the Plan Administrator, in its discretion, may cancel such distribution or payment (or any part thereof) to or for the benefit of such Participant, Beneficiary or successor in interest in such manner as the Plan
            Administrator shall direct.

        11.3 Not a Contract of Employment. The terms and conditions of this
            Plan shall not be deemed to constitute a contract of employment between the Plan Sponsor and the Participant. Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of the Plan Sponsor as an employee
            or to interfere with the right of the Plan Sponsor to discipline or discharge the Participant at any time.

        11.4 Governing Law. Subject to ERISA, the provisions of this Plan
            shall be construed and interpreted according to the internal laws of the Commonwealth of Pennsylvania, without regard to its conflicts of laws principles.

        11.5 Notice. Any notice, consent or demand required or permitted to
            be given under the provisions of this Plan shall be in writing and shall be signed by the party giving or making the same. If such notice, consent or demand is mailed, it shall be sent by United States certified mail, postage prepaid, addressed
            to the addressee’s last known address as shown on the records of the Plan Sponsor. The date of such mailing shall be deemed the date of notice consent or demand.  Any person may change the address to which notice is to be sent by giving notice
            of the change of address in the manner aforesaid.

        11.6 Coordination with Other Benefits.  The benefits provided for a
            Participant and Participant’s Beneficiary under the Plan are in addition to any other benefits available to such Participant under any other plan or program for Employees of the Plan Sponsor. The Plan shall supplement and shall not supersede,
            modify or amend any other such plan or program except as may otherwise be expressly provided.

        11.7 Compliance.  A Participant shall have no right to receive
            payment with respect to the Participant’s Account balance until all legal and contractual obligations of the Plan Sponsor relating to establishment of the Plan and the making of such payments shall have been complied with in full.

        11.8 Successor Company.  The Plan will be continued after a sale of
            assets of the Plan Sponsor, or a merger or consolidation of the Plan Sponsor into another corporation or entity.

        11.9 Section 409A Compliance. The Plan is intended to comply with
            the applicable requirements of Section 409A, and shall be administered in accordance with Section 409A to the extent Section 409A applies to the Plan.  Notwithstanding anything in the Plan to the contrary, distributions from the Plan may only
            be made in a manner, and upon an event, permitted by Section 409A.  If a payment is not made by the designated payment date under the Plan, the payment shall be made by December 31 of the calendar year in which the designated payment date
            occurs.  Each installment payment shall be treated as a separate payment for purposes of Section 409A.  To the extent that any provision of the Plan would cause a conflict with the applicable requirements of Section 409A, or would cause the
            administration of the Plan to fail to satisfy the applicable requirements of Section 409A, such provision shall be deemed null and void.  In no event shall a Participant, directly or indirectly, designate the calendar year of payment. 
            Notwithstanding anything in the Plan to the contrary, this Plan may be amended by the Plan Sponsor at any time, retroactively if required, to the extent required to conform the Plan to Section 409A.  No election made by a Participant hereunder,
            and no change made by a Participant to a previous election shall be accepted by the Plan Sponsor if the Plan Sponsor determines that acceptance of such election or change could violate any of the requirements of Section 409A, resulting in early
            taxation and penalties.

        [Signature Page Follows]

        
          
            

            

          

          
            

          
            

            

          

        

        IN WITNESS WHEREOF,
          the Plan Sponsor has signed this Plan document as of ____________________________, 20___.

        	
                ATTEST/WITNESS

              	 	
                For:  Participant

              
	 	 	 
	
                (Signature)

              	 	
                (Signature)

              
	 	 	 
	
                (Print Name)

              	 	
                (Print Name)

              
	 	 	 
	 	 	
                (Title)

              
	 	 	 
	 	 	
                (Date)

              
	 	 	 
	
                ATTEST/WITNESS

              	 	
                For:  The York Water Company

              
	 	 	 
	
                (Signature)

              	 	
                (Signature)

              
	 	 	 
	
                (Print Name)

              	 	
                (Print Name)

              
	 	 	 
	 	 	
                (Title)

              
	 	 	 
	 	 	
                (Date)

              

        

        

        
          
            

            

          

          
            

          
            

            

          

        

        APPENDIX A

        	
                Employee

              	
                Monthly Enhancement Factor

              
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

        

        

        
          
            

            

          

          
            

          
            

            

          

        

        PLAN ENROLLMENT KIT

        for the

        The York Water Company

        Deferred Compensation Plan

        Contents:

        Participant Data

        Participation Agreement

        Plan Year Restatement Enrollment Form

        
          

          

          

          

        

        
          PLEASE COMPLETE EACH FORM INCLUDED IN THIS KIT.  PLEASE PRINT IN INK.  UPON COMPLETION OF THIS PLAN ENROLLMENT KIT, PLEASE REVIEW
            TO ENSURE THAT EACH FORM IS COMPLETELY FILLED OUT AND THAT YOU HAVE SIGNED WHERE APPLICABLE.

          

          

        

        
          RETURN ALL FORMS TO YOUR PLAN ADMINISTRATOR

          

          

          

          

        

        
          
            

            

          

          
            

          
            

            

          

        

        The York Water Company

        Deferred Compensation Plan

        	
                PARTICIPANT DATA

              

        

        

        INSTRUCTIONS:  Please complete all information below.

        (Please print)

        	 
	 
	
                Last Name

              	
                First Name

              	
                Middle Initial

              
	 	 	 
	 	 	 
	 	 	 
	
                Address

              	
                City

              	
                State

              	
                Zip Code

              
	 	 	 
	 	 	 
	 	 	 
	
                Date of Birth (mm/dd/yyyy)

              	 	
                Date of Hire (mm/dd/yyyy)

              

        

        

        
          
            

            

          

          
            

          
            

            

          

        

        THE YORK WATER COMPANY “AMENDED AND RESTATED DEFERRED COMPENSATION PLAN”

        	
                PARTICIPATION AGREEMENT

              	 
	
                (Please print)

              
	 
	
                Last Name

              	
                First Name

              	
                Middle Initial

              
	 	 	 

        The Plan Sponsor and the Plan Administrator designate the above named Eligible Employee as a Plan Participant.
          All capitalized terms used herein are defined in the The York Water Company Amended and Restated Deferred Compensation Plan.

        In consideration of his or her designation as a Participant, the undersigned Eligible Employee hereby agrees and
          acknowledges as follows:

        
          
            	1.	
                    I have received a copy of The York Water Company Amended
                      and Restated Deferred Compensation Plan, as currently in effect.

                  

          

        

        
          
            	2.	
                    I agree to be bound by all of the terms and conditions of
                      the Plan, including the determinations of the Plan Administrator, and to perform any and all acts required by me hereunder.

                  

          

        

        
          
            	3.	
                    I have the right to designate the Beneficiary or
                      Beneficiaries, and thereafter to change the Beneficiary or Beneficiaries, of any death benefit payable under the Plan, by completing and delivering to the Plan Administrator a form designating his or her Beneficiary.

                  

          

        

        
          
            	4.	
                    I understand that the Plan may have to be amended to
                      comply with Section 409A, and I hereby agree to execute any documents necessary to make such amendments.

                  

          

        

        
          
            	5.	
                    I understand that my participation in the Plan can have
                      tax and financial consequences for my Beneficiaries and me. I have had the opportunity to consult with my own tax, financial and legal advisors before deciding to participate in the Plan.

                  

          

        

        
          
            	6.	
                    I understand that my Plan benefits are subject to the
                      claims of my Plan Sponsor’s creditors should my Plan Sponsor become bankrupt or insolvent.

                  

          

        

        
          
            	7.	
                    I understand that the Plan Sponsor Contributions, Account
                      Earnings, Tax Savings (if any) and Enhancement Factor shall vest based on Section 4.1 of the Plan.

                  

          

        

        
          
            	8.	
                    I understand that the Plan Agreement and any accompanying
                      forms shall be interpreted in accordance with, and incorporate the terms and conditions required by Section 409A. I further understand that the Plan Administrator may, in its discretion, adopt such amendments to the Plan and any
                      accompanying forms or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Plan Administrator determines are necessary or appropriate to comply
                      with the requirements of Section 409A. Finally, I understand that the time or form of distributions that I may be allowed to elect (if any) may not be accelerated except as otherwise permitted by Section 409A.

                  

          

        

        	
                AGREED AND ACCEPTED BY THE PARTICIPANT

              
	 	 
	
                Signature of Participant

              	
                Date

              
	
                AGREED AND ACCEPTED BY THE PLAN SPONSOR

              
	 	 
	
                For the Plan Sponsor

              	
                Date

              

        
          
            DB1/[62109487.3]62109487.47

          

          
            

          
            

            

          

        

        The York Water Company Deferred Compensation Plan

        	
                ENROLLMENT FORM

              

        (Please print)

        	 
	 
	
                Last Name

              	
                First Name

              	
                Middle Initial

              
	 	 	 
	
                SECTION I:  DEFERRAL ELECTIONS

              	 	 

        I hereby elect to defer my Base Salary as indicated below. I understand that
          this deferral election is subject to all of the applicable terms of the Plan, including the requirement that I may not change my election once made for the current Plan Year.  I further understand that I am obligated to continue this deduction
          for eight (8) years.  I further understand that I may elect to continue the deduction for up to an additional three (3) years immediately following the completion of the initial eight (8) years.  All capitalized terms used herein are defined in
          the The York Water Company Amended and Restated Deferred Compensation Plan, unless otherwise indicated by the context.

        ◻ I elect to defer Base Salary for the period indicate above.

        Base Salary deferral: _______% (2.5% ______ OR 5.0% _X______)

        I understand that the Company will contribute an amount equal to 2.5% of my base salary pursuant to section 3.2.

        
          

          

          

          

        

        	
                SECTION II:  BENEFICIARY DESIGNATION

              

        I designate the Beneficiary(ies) below to receive any benefits payable under this Plan on account of my death:

        	
                
                  PRIMARY BENEFICIARY(IES):

                    Name

                   

                

              	
                
                  Percentage of Benefits

                   

                

              	
                
                  Relationship to Participant

                   

                

              	
                
                  Social Security Number

                   

                

              
	 	 	 	 
	 	 	 	 

        CONTINGENT BENEFICIARY(IES) (Will receive indicated portions of my Vested Account balance if no primary Beneficiaries survive the Participant.)

        	
                
                  Name

                   

                

              	
                
                  Percentage of Benefits

                   

                

              	
                
                  Relationship to Participant

                   

                

              	
                
                  Social Security Number

                   

                

              
	 	 	 	 
	 	 	 	 
	
                AGREED AND ACCEPTED BY THE PARTICIPANT

              	 	 
	 	 	 	 
	
                Signature of Participant

              	
                Date

              	 	 
	
                AGREED AND ACCEPTED BY THE PLAN SPONSOR

              	 	 
	 	 	 	 
	
                For the Plan Sponsor

              	
                Date

              	 	 

        
          
            

            

          

          
            

          
            

            

          

        

        Schedule 10.18

        

        

        

        

        	
                Name

              	
                Enhancement Factor

              
	
                Joseph T. Hand

              	
                -

              
	
                Vernon L. Bracey

              	
                -

              
	
                Mark S. Snyder

              	
                -

              
	
                Matthew E. Poff

              	
                -

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