Document:

First Amend. of the Sky Financial Group, Employee Stock Ownership Pension Plan

Exhibit 10.15 
FIRST AMENDMENT 
OF THE 
SKY
FINANCIAL GROUP, INC. EMPLOYEE STOCK OWNERSHIP PENSION PLAN 
(As Amended and Restated Effective January 1, 2001) 
 
WHEREAS, Sky Financial Group, Inc. (the “Company”) maintains
the Sky Financial Group, Inc. Employee Stock Ownership Pension Plan (the “Plan”); and 
 
WHEREAS, the Company has delegated authority to amend the Plan to the Sky Financial Group, Inc. Benefit Plans Committee (the “Committee”), and the
Committee has determined that amendment of the Plan is necessary and desirable. 
 
NOW, THEREFORE, pursuant to the power reserved to the Company by Section 9.01 of the Plan, and by virtue of the authority delegated to the Committee,
the Plan, as previously amended, is hereby further amended, effective as of January 1, 2002, in the following particulars: 
 
1. By adding the following sentence to Section 1.03 of the Plan, immediately after subparagraph (e) thereof: 
 
“Notwithstanding the foregoing, Annual Compensation will
exclude any commissions any Employee or Participant receives from Celaris Group, Inc. or any successor.” 
 
2. By substituting the following for subsection (1) of Section 8.03(a) of the Plan: 
 
“(1) ‘Qualified Participant’
means a Participant who has attained age 55 and who has completed at least ten Years of Service (as that term is defined in the first paragraph Section 1.38 for purposes of determining eligibility to participate in the Plan). For purposes of this
subsection, all service that a Participant had with an Acquired Employer shall be credited toward Years of Service.” 
 
*        *        * 

 
IN WITNESS WHEREOF, on behalf of the Committee, the undersigned Committee member has executed this amendment this 8th day of May 2002. 
 

	 SKY FINANCIAL GROUP,
INC.
 BENEFIT PLANS
COMMITTEE

	
	 By:
	 	  

	
	 Its:
	 	  

 

-2-Second Amend. of the Sky Financial Group, Employee Stock Ownership Pension Plan

 
Exhibit 10.16

 
SECOND
AMENDMENT 
OF THE

SKY FINANCIAL GROUP, INC. EMPLOYEE
STOCK OWNERSHIP PENSION PLAN 
(As Amended
and Restated Effective January 1, 2001) 
 
WHEREAS, Sky Financial Group, Inc. (the “Company”) maintains the Sky Financial Group, Inc. Employee Stock Ownership Pension Plan (the “Plan”); and 
 
WHEREAS, the Company has
delegated authority to amend the Plan to the Sky Financial Group, Inc. Benefit Plans Committee (the “Committee”), and the Committee has determined that amendment of the Plan is necessary and desirable. 
 
NOW, THEREFORE, pursuant
to the power reserved to the Company by Section 9.01 of the Plan, and by virtue of the authority delegated to the Committee, the Plan, as previously amended, is hereby further amended, effective as of May 15, 2002, in the following particulars:

 
1. By adding the following new Section 1.39 to
the Plan: 
 
“1.39 Dividend
Reinvestment Account. ‘Dividend Reinvestment Account’ means a Participant’s Account attributable to (i) Company Stock purchased with dividends the Company pays on Company Stock held in the Company Stock Funds, and (ii) cash
dividends the Company pays on Company Stock held in the Company Stock Funds, pending distribution to the Participant pursuant to a Dividend Payment Election under Section 8.01.” 
 
2. By substituting the following for Sections 1.23 and 1.24 of the Plan: 
 
“1.23 Other Investment Account (MPP).
‘Other Investment Account (MPP)’ means a Participant’s Account attributable to money purchase contributions made in cash and any income, gains, losses, appreciation or depreciation attributable thereto. 
 
1.24 Other Investment Account (SB).
‘Other Investment Account (SB)’ means a Participant’s Account attributable to stock bonus contributions made in cash and any income, gains, losses, appreciation or depreciation attributable thereto.” 
 

 
3. By
substituting the following for Section 4.04 from the Plan: 
 
“4.04 Allocation of Cash Dividends. Cash dividends on Company Stock allocated to a Participant’s Company Stock Funds shall, to the extent the cash dividends are not distributed
directly to the Participant outside of the Plan pursuant to a Dividend Payment Election under Section 8.01, be credited to the Participant’s Dividend Reinvestment Account.” 
 
4. By adding the following new paragraph (e) to Section 5.03 of the Plan, immediately after paragraph (d)
thereof: 
 
“(e)
Notwithstanding any contrary provision of this Plan, a Participant shall always be 100% vested in his or her Dividend Reinvestment Account without regard to the vested percentage of underlying stock.” 
 
5. By substituting the following for Section 8.01 of the Plan:

 
“ 8.01 Election to
Receive Dividends on Company Stock Held in the Company Stock Funds. 
 
(a) Except as provided in the remainder of this Section 8.01, any dividend paid on Company Stock held in a Participant’s Company Stock Funds shall be reinvested in Company Stock and held in the
Participant’s Dividend Reinvestment Account. The Plan Administrator shall prescribe rules and procedures which shall be applied in a uniform and non-discriminatory manner, to (i) allow Participants to affirmatively elect to have their cash
dividends paid to the Trustee and distributed by the Trustee to the Participants no later than 90 days after the end of the Plan Year in which paid to the Trustee, or (ii) allow Participants to affirmatively elect to have their cash dividends paid
directly to them in cash outside the Plan. To the extent administratively feasible, the Trustee will distribute the cash dividends to Participants on the same day the cash dividends are paid to the Trustee. Such rules and procedures that are
prescribed by the Plan Administrator shall be in accordance with the terms of the Plan or, to the extent not specified in the Plan, the requirements that must be satisfied in order for a federal income tax deduction to be allowed under Code Section
404(k) with respect to the amount of cash dividends (including the requirement that the election to receive cash dividends be irrevocable for the period to which it applies and including the requirement set forth in Code Section 404(k)(2)(b)).

 
(b) In the event a Participant
does not complete an election (a “Dividend Payment Election”) to have his or her cash dividends 
 

-2- 

 
distributed
outside the Plan, the cash dividends allocated to Company Stock held in his or her Account shall be automatically paid to the Plan, allocated to the Dividend Reinvestment Account and reinvested in Company Stock. Participants may make a Dividend
Payment Election in the manner prescribed by the Plan Administrator, which may include the use of electronic transmissions and/or an interactive voice response system. A Dividend Payment Election shall be irrevocable once accepted by the Plan
Administrator and shall remain in effect indefinitely thereafter, unless the Participant cancels the Dividend Payment Election pursuant to the rules and procedures adopted by the Plan Administrator, which shall give Participants a reasonable
opportunity to change a dividend election at least annually and at any time that there is a modification in the Plan’s provisions governing the manner in which cash dividends are paid or distributed to Participants. A Participant’s
Dividend Payment Election shall be effective as soon as administratively practicable following the date the Plan receives the Participant’s Dividend Payment Election Form. A Dividend Payment Election Form must be completed by the Participant
within the time prescribed for such purpose and pursuant to the rules and procedures adopted by the Plan Administrator from time to time. Any Dividend Payment Election Form that is not completed as required by the Plan Administrator shall be
considered null and void. Notwithstanding any provisions in the Plan to the contrary, in the absence of a valid Dividend Payment Election, if a hardship withdrawal under Section 6.09 of the Plan is approved or processed during the period commencing
on an ex-dividend date and ending on the respective dividend payable date, for a Participant with an interest in the Company Stock Funds, the Participant shall be deemed to have a Dividend Payment Election in effect solely with respect to said
ex-dividend date, and the applicable cash dividends shall be distributed or paid to the Participant in accordance with the provisions of this Section 8.04. 
 
(c) Cash dividends that are paid or reinvested pursuant to Code Section 404(k)(2)(A)(iii) and the provisions of this
Section shall not be considered to be annual additions for purposes of Code Section 415(c), before-tax contributions for purposes of Code Section 402(g), elective contributions for purposes of Code Section 401(k) or employee contributions for
purposes of Code Section 401(m). 
 
(d) Notwithstanding the foregoing provisions of this Section 8.04, Participants who are residents of states that have not amended their tax laws to conform with Code Section 404(k)(2), as amended by the Economic Growth & Tax
Relief Act of 2001, shall have their respective cash dividends distributed to them in cash, in the same manner as if they had completed a Dividend Payment Election.” 
 
*        *        *

 

-3- 

 
IN WITNESS WHEREOF, on behalf of the Committee, the undersigned Committee member has executed this amendment this 9th day of July 2002. 
 

	 SKY FINANCIAL GROUP,
INC.
 BENEFIT PLANS
COMMITTEE

	
	 By:
	 	

	 	 	 Thomas A. Sciorilli

	
	 Its:
	 	       SVP/Human Resources

	
	 By:
	 	

	 	 	 Michael L. Couturier

	
	 Its:
	 	 VP/Director, Employee Benefits

 

-4-Third Amend. of the Sky Financial Group, Employee Stock Ownership Pension Plan

 
Exhibit 10.17

 
THIRD
AMENDMENT 
OF THE

SKY FINANCIAL GROUP, INC. EMPLOYEE
STOCK OWNERSHIP PENSION PLAN 
(As Amended
and Restated Effective January 1, 2001) 
 
WHEREAS, Sky Financial Group, Inc. (the “Company”) maintains the Sky Financial Group, Inc. Employee Stock Ownership Pension Plan (the “Plan”); and 
 
WHEREAS, the Company has delegated
authority to amend the Plan to the Sky Financial Group, Inc. Benefit Plans Committee (the “Committee”), and the Committee has determined that amendment of the Plan is necessary and desirable. 
 
NOW, THEREFORE, pursuant
to the power reserved to the Company by Section 9.01 of the Plan, and by virtue of the authority delegated to the Committee, the Plan, as previously amended, is hereby further amended, in the following particulars: 
 
1. By postponing the effective date of the Second Amendment of
the Sky Financial Group, Inc. Employee Stock Ownership Pension Plan from May 15, 2002, to December 1, 2002. 
 
2. By substituting the following sentence for the sentence immediately following subparagraph (e) of Section 1.03 of the Plan, effective
as of April 1, 2002: 
 
“Notwithstanding the
foregoing, the ‘Annual Compensation’ of any Participant employed by Celaris Group, Inc. or Value Added Benefits, Ltd. (including any such Participant employed by Sky Insurance who was previously employed by Celaris Group, Inc. or Valued
Added Benefits, Ltd.) as a ‘Producer With Management Responsibilities,’ will not include any commissions received by such Participant for services performed as a Producer With Management Responsibilities.” 
 
3. By substituting the following for Section 1.22 of the Plan,
effective as of January 1, 2002: 
 

 
“1.22 Normal Retirement Date. ‘Normal Retirement Date’ means the first day of the month coinciding with or next following the date on which a Participant attains Normal Retirement Age. For purposes of Sections
5.03 of the Plan, an Employee will be deemed to have retired if he or she has terminated employment after attaining Normal Retirement Age.” 
 
4. By substituting the following for Section 1.39 of the Plan, effective as of December 1, 2002: 
 
“1.39 Dividend Reinvestment
Account. ‘Dividend Reinvestment Account’ means a Participant’s Account attributable to Company Stock purchased with dividends the Company pays on Company Stock held in the Company Stock Funds.” 
 
5. By adding the following sentence to Section 2.01 of the
Plan, immediately after the first sentence thereof, effective as of April 1, 2002: 
 
“Each Employee of Celaris Group, Inc. or Value Added Benefits, Ltd. (including each Employee of Celaris Group, Inc. or Value Added Benefits, Ltd. who becomes or has become an Employee of Sky
Insurance) shall participate in the Plan on or after April 1, 2002, solely in accordance with Section 2.04 of the Plan.” 
 
6. By adding the following new Section 2.04 to the Plan immediately after Section 2.03 therof, effective as of April 1, 2002:

 
“2.04 Eligibility for
Employees of Celaris Group, Inc. and Value Added Benefits, Ltd. Effective April 1, 2002, each Employee of Celaris Group, Inc. and Value Added Benefits, Ltd. (including each Employee of Celaris Group, Inc. or Value Added Benefits, Ltd. who
becomes or has become an Employee of Sky Insurance) shall participate in the Plan on the first Entry Date coinciding with or next preceding the date the Employee meets all of the following requirements: 
 
(a) the Employee is credited with one Year of
Service; 
 
(b) the Employee has
attained age 18 years; 
 
(c) the
Employee is not a member of a collective bargaining unit unless the collective bargaining agreement between the Employer and the union provides for participation in this Plan; 
 

-2- 

 
(d) the Employee is not classified by the Company, Celaris Group, Inc., or Value Added Benefits, Ltd. a 100 percent commissioned salesperson; 
 
(e) the Employee is not classified by the Company, Celaris Group, Inc., or Value Added Benefits, Ltd. as a
Commissioned-Only Producer Without Management Responsibilities; and 
 
(f) the Employee is not classified by the Company, Celaris Group, Inc., or Value Added Benefits, Ltd. as a New Producer Without Management Responsibilities. 
 
Any Employee who is classified by the Company,
Celaris Group, Inc., or Value Added Benefits, Ltd. as a Producer With Management Responsibilities will be eligible to Participate in the Plan; provided that, the Employee has satisfied the requirements of this Section 2.04. However, the Employer
Contribution made on behalf of such Employee will be based only on the portion of the Employee’s Annual Compensation that is base salary, and will not take into account any commissions such Employee receives from Celaris Group, Inc. or Value
Added Benefits, Ltd., or any successor thereof.” 
 
7. By substituting the following for the second paragraph of Section 3.01 of the Plan, effective as of January 1, 2001: 
 
“For Participants to whom Article XV applies, the Employer shall contribute on behalf of each such Participant,
including a Participant who continues in the employ of the Employer after his or her Normal Retirement Date, an amount equal to the difference between (a) three percent (3%) of his or her Annual Compensation, and (b) an amount equal to the
percentage of the Participant’s Annual Compensation allocated to the Participant’s Account as a result of the Employer’s Leveraged Contribution under Article XV for that Plan Year. If the amount in clause (b) exceeds the amount in
clause (a), then the Employer shall make no contribution on behalf of such Participant for that Plan Year, other than the amount in clause (b). If the amount in clause (b) is less than the amount in clause (a), the Employer shall make a contribution
on behalf of each affected Participant equal to the difference.” 
 
8. By substituting the following for the last sentence of Section 4.02 of the Plan, effective as of January 1, 2001: 
 
“An allocation will be made only if the Participant was employed by the Employer on the last day of such Plan Year and was credited
with at least 1,000 Hours of Service during such Plan Year, except that any Participant who became totally and permanently disabled, died or terminated employment with the 
 

-3- 

Employer on or after attaining Normal Retirement Age during such Plan Year shall receive
an allocation.” 
 
9. By substituting the
following for Section 5.01 of the Plan, effective as of January 1, 2001: 
 
“5.01 Upon Retirement or Disability. When a Participant attains Normal Retirement Age, or becomes totally and permanently disabled, the entire interest in the Participant’s Accounts,
including the amount of any contributions for the Plan Year in which the Participant’s termination of employment on or after his or her Normal Retirement Date or Disability occurs, shall become nonforfeitable. The Plan Administrator, in
accordance with the provisions of Section 6.01 of the Plan, shall then direct the Trustee to distribute to such Participant the entire interest in his or her Account. A Participant who remains in the employment of the Employer after the Participant
attains Normal Retirement Age shall continue to participate in the Plan.” 
 
10. By substituting the phrase “Disability, death or termination of employment after attaining the Normal Retirement Age,” for the phrase “retirement, Disability or death,” where
the latter phrase appears in the first sentence of Section 5.03 of the Plan, effective as of January 1, 2001. 
 
11. By deleting clause (i) of paragraph (a) of Section 8.01 of the Plan and substituting the following for paragraph (a) of Section 8.01
thereof, effective as of December 1, 2002: 
 
“(a) Except as provided in the remainder of this Section 8.01, any dividend paid on Company Stock held in a Participant’s Company Stock Funds shall be reinvested in Company Stock and held in the Participant’s Dividend
Reinvestment Account. The Plan Administrator shall prescribe rules and procedures, which shall be applied in a uniform and non-discriminatory manner, to allow Participants to affirmatively elect to have their cash dividends paid directly to them in
cash outside the Plan as soon as a administratively feasible. Such rules and procedures that are prescribed by the Plan Administrator shall be in accordance with the terms of the Plan or, to the extent not specified in the Plan, the requirements
that must be satisfied in order for a federal income tax deduction to be allowed 
 
 

-4- 

 
under Code
Section 404(k) with respect to the amount of cash dividends (including the requirement that the election to receive cash dividends be irrevocable for the period to which it applies and including the requirement set forth in Code Section
404(k)(2)(b)).” 
 
*        *        * 
 
I, Thomas A. Sciorilli, on behalf of the Sky Financial Group, Inc. Benefit Plans Committee, hereby certify that the foregoing is a
correct copy of a resolution duly adopted by the Committee on November 13, 2002 and that the resolution has not been changed or repealed. 
 

	 SKY FINANCIAL GROUP, INC.
 BENEFIT PLANS COMMITTEE

	
	 By:
	 	

	 	 	 A Member of the Committee

 

	

	

 

-5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]