Burke & Herbert Financial Services Corp. has amended the Summit Community Bank Supplemental Executive Retirement Plan (SERP) following the merger of Summit Community Bank into Burke & Herbert Bank & Trust Company. Under the new agreement, participants—including H. Charles Maddy, III, and key Summit executives—will have their retirement benefits fully vested as a result of the merger. The amendment also removes the requirement to maintain a "rabbi trust" for benefit payments under the SERP, though such a trust must be established in the event of any future change in control at the bank. All other SERP provisions remain unchanged.

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