This excerpt taken from the FCBC DEF 14A filed Mar 23, 2009.
401(k) Wrap Plan
This excerpt taken from the FCBC DEF 14A filed Mar 21, 2006.
The Corporation maintains a non-qualified Supplemental 401(k) Plan (Wrap Plan) for the purpose of providing deferred compensation which cannot be accumulated under the Qualified ESOP/401(k) Combined Plan provisions because of deferral and covered compensation limitations on tax-qualified pension plan benefits. The Corporation makes a non-qualified matching credit on employee contributions at the rate established in the 401(k) Plan (100% in 2005) of up to 6% of compensation deferred and also makes contributions in lieu of Qualified ESOP contributions for compensation in excess of the $205,000 compensation limit. Contributions under the Wrap Plan in 2005 for the covered persons are included in the Summary Compensation Table and are as follows: Mendez $6,820; Buzzo $2,415; Lilly $4,616; and Schumacher $1,750.