Common use of Definitions and Construction Clause in Contracts

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the “Code”). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 8 contracts

Samples: Supplemental Director Retirement Agreement (First Seacoast Bancorp), Supplemental Director Retirement Agreement (First Seacoast Bancorp), Supplemental Director Retirement Agreement (First Seacoast Bancorp)

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Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the “Code”). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 6 contracts

Samples: Supplemental Executive Retirement Agreement (Plumas Bancorp), Supplemental Executive Retirement Agreement, Supplemental Executive Retirement Agreement (Plumas Bancorp)

Definitions and Construction. It is intended that this Agreement comply with and be construed in accordance with Section 409A of the Internal Revenue Code (the “Code”). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 6 contracts

Samples: Centra Bank Supplemental Executive Retirement Agreement (Centra Financial Holdings Inc), Supplemental Executive Retirement Agreement (Centra Financial Holdings Inc), Centra Bank Supplemental Executive Retirement Agreement (Centra Financial Holdings Inc)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the “Code”). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 5 contracts

Samples: Supplemental Executive Retirement Agreement (Southern California Bancorp \ CA), Supplemental Executive Retirement Agreement (Southern California Bancorp \ CA), Supplemental Executive Retirement Plan Agreement (First Bancshares Inc /MS/)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the "Code"). It is also intended that the this Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 5 contracts

Samples: Retirement Agreement (WashingtonFirst Bankshares, Inc.), Retirement Agreement (WashingtonFirst Bankshares, Inc.), Retirement Agreement (WashingtonFirst Bankshares, Inc.)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the "Code"). It is also intended that the Agreement be "unfunded" and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 4 contracts

Samples: Supplemental Executive Retirement Plan Agreement (First Bancshares Inc /MS/), Atlantic Stewardship Bank Supplemental Executive Retirement Agreement (Stewardship Financial Corp), Atlantic Stewardship Bank Supplemental Executive Retirement Agreement (Stewardship Financial Corp)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the "Code"). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director or Beneficiary Executive under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement, Supplemental Executive Retirement Agreement (Origin Bancorp, Inc.)

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Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the "Code"). It is also intended that the Agreement be "unfunded" and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. The First, a National Banking Association Supplemental Executive Retirement Agreement Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (First Bancshares Inc /MS/), Supplemental Executive Retirement Agreement (First Bancshares Inc /MS/)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the “Code”). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 1 contract

Samples: Retirement Agreement (River Financial Corp)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the "Code"). It is also intended that the Agreement be "unfunded" and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") and not be construed to provide income to the Director Executive or Beneficiary under the Code prior to actual receipt of benefits. The First, A National Banking Association Supplemental Executive Retirement Agreement Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (First Bancshares Inc /MS/)

Definitions and Construction. It is intended that this Agreement comply and be construed in accordance with Section 409A of the Internal Revenue Code (the “Code”). It is also intended that the Agreement be “unfunded” and maintained for a select group of management or highly compensated employees of the Bank, for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and not be construed to provide income to the Director or Beneficiary under the Code prior to actual receipt of benefits. Where the following words and phrases appear in the Agreement, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary:

Appears in 1 contract

Samples: Supplemental Director Retirement Agreement (BV Financial, Inc.)

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