Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.
Appears in 26 contracts
Samples: Director Deferred Fee Agreement (Ohio Valley Banc Corp), Fee Agreement (Regency Bancorp), Director Retirement Agreement (Plumas Bancorp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written beneficiary designation with the Company. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.
Appears in 10 contracts
Samples: Retirement Agreement (First Community Financial Corp), Retirement Agreement (First Community Financial Corp), Agreement (First Community Financial Corp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the CompanyBank. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company Bank during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.
Appears in 6 contracts
Samples: Director Retirement Agreement (Lawrence Financial Holdings Inc), Plumas Bank (Plumas Bancorp), Directors Retirement Agreement (Republic Security Financial Corp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the CompanyBank. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company Bank during the Director's ’s lifetime. The Director's ’s beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's ’s surviving spouse, if any, and if none, to the Director's ’s surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's ’s estate.
Appears in 4 contracts
Samples: Plumas Bank (Plumas Bancorp), Plumas Bank (Plumas Bancorp), Plumas Bank (Plumas Bancorp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company during the Director's ’s lifetime. The Director's ’s beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's ’s surviving spouse, if any, and if none, to the Director's ’s surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's ’s estate.
Appears in 3 contracts
Samples: Deferred Fee Agreement (Central Valley Community Bancorp), Deferred Fee Agreement (Harvard Illinois Bancorp, Inc.), Clovis Community Bank (Central Valley Community Bancorp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.. 6.2
Appears in 2 contracts
Samples: Deferred Fee Agreement (Lafayette Bancorporation), Fee Agreement (Orange National Bancorp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.. 4.2
Appears in 2 contracts
Samples: Director Retirement Agreement, Retirement Agreement (City National Bancshares Corp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. Bank in the form attached as Exhibit B. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company Bank during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.
Appears in 2 contracts
Samples: Heritage Bank of Commerce Deferred Fee Agreement (Heritage Commerce Corp), Heritage Bank of Commerce Deferred Fee Agreement (Heritage Commerce Corp)
Beneficiary Designations. The Director shall designate a Primary and Contingent beneficiary by filing a written designation with the Company. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company during the Director's ’s lifetime. The Director's ’s beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's ’s surviving spouse, if any, and if none, to the Director's ’s surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's ’s estate.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (HCSB Financial Corp)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the CompanyBoard. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company Board during the Director's ’s lifetime. The Director's ’s beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's ’s surviving spouse, if any, and if none, to the Director's ’s surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's ’s estate.
Appears in 1 contract
Samples: Director Retirement Agreement (Fairfield County Bank Corp.)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the CompanyBank. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company Bank during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or of descendants survive, to the Director's estate.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Capital Corp of the West)
Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. Bank in the form attached as Exhibit A. The Director may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Director and accepted by the Company Bank during the Director's lifetime. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's surviving spouse, if any, and if none, to the Director's surviving children and the descendants of any deceased child by right of representation, and if no children or descendants survive, to the Director's estate.
Appears in 1 contract
