FCBC » Topics » 401(k) Wrap Plan

This excerpt taken from the FCBC DEF 14A filed Mar 23, 2009.
401(k) Wrap Plan
    in Last
    in Last
    in Last
    Balance at Last
  Fiscal Year(1)     Fiscal Year(1)     Fiscal Year     Distributions     Fiscal Year-End  
John M. Mendez
  $     $ 2,500     $ 5,802     $     $ 170,141  
David D. Brown
Robert L. Buzzo
          496       (34,380 )           47,901  
E. Stephen Lilly
                (25,804 )           59,527  
Gary R. Mills
                (11,000 )           52,890  
This excerpt taken from the FCBC DEF 14A filed Mar 21, 2006.
Wrap Plan
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.
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