Glover v. First Union National Bank of North Carolina

MARTIN, Judge.

The dispositive issue on appeal is whether the Merger Agreement executed between Scottish Bank and First Union is so clear and unambiguous as to establish, as a matter of law, that former employees of Scottish Bank are entitled to receive retirement benefits under the First Union Plan based upon total years of service to both Scottish Bank and First Union, as well as their accrued benefits under the previously existing Scottish Bank Plan. We conclude that the Merger Agreement is ambiguous and unclear as to this point, requiring resolution of the issue by the fact finder rather…