Amount of Deferral Frequency of Deferral Duration Clause Samples

Amount of Deferral Frequency of Deferral Duration. [Initial and complete one] [Initial One] [Initial One] X I elect to defer X Beginning of Year ____ This Year Only 100 % of Fees ____ I elect to defer ______ Each fee period X For 12/31/06 $______ of Fees from the date ____ I elect not to defer Fees ______ End of Year of the Agreement I understand that I may change the amount, frequency and duration of my deferrals by filing a new election form with Heritage Bank of Commerce and obtaining written approval of the Board of Directors of the Bank; provided, however, that any subsequent election will not be effective until the calendar year following the year in which the new election is received by the Bank. I elect to receive benefits under the Agreement in the following form: _____ Lump sum Substantially equal monthly installments for: _____ thirty-six (36) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Deferral Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Deferral Account. X sixty (60) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Deferral Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Deferral Account. _____ one hundred twenty (120) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Deferral Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Deferral Account. _____ one hundred eighty (180) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Deferral Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Deferral Account. I understand that I may not change the form of benefit elected, even if I later change the amount of my deferrals under the Agreement without written approval of the Board of Directors of Heritage Bank of Commerce. I designate the following as beneficiary of benefits under the Deferred Fee Agreement payable following my death: Primary: ▇▇▇▇▇ Family Irrevocable Deferred Trust Contingent: ______________________________