Common use of Amounts Deferred Under Original Agreement Clause in Contracts

Amounts Deferred Under Original Agreement. Because amounts deferred under the Original Agreement were deferred from the same source (Director Fees) and paid out in the same manner (upon Separation From Service) as under the “Deferred Fee Agreement” between the parties, effective as of February 1, 1997, (and which has been Amended and Restated to comply with IRC 409A by virtue of the First Amended and Restated Deferred Fee Agreement), the parties hereby agree that amounts reflected in the Deferral Account under the Original Agreement shall be incorporated into the Deferred Compensation Account under the First Amended and Restated Deferred Fee Agreement.

Appears in 6 contracts

Samples: Director Retirement Agreement (Santa Lucia Bancorp), Director Retirement Agreement (Santa Lucia Bancorp), Director Retirement Agreement (Santa Lucia Bancorp)

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