Common use of Deferral Election Clause in Contracts

Deferral Election. The Director heretofore has deferred the --------- ----------------- receipt by him of director's fees as described above. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of the later of his 65th birthday or January 1, 1989 (the "Retirement Age").

Deferral Election. The Director heretofore has deferred the --------- ----------------- receipt by him of director's fees as described above. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of the later of his 65th birthday or January 1, 1989 (the "Retirement Age")70th birthday.

Deferral Election. The Director heretofore has deferred the --------- ----------------- receipt by him of director's fees as described above. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of the later of his 65th birthday or January December 1, 1989 (the "Retirement Age").

Deferral Election. The Director heretofore has deferred the --------- ----------------- receipt by him of director's fees as described above. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of the later of his 65th birthday or January 1, 1989 (the "Retirement Age")birthday.

Deferral Election. The Director heretofore has deferred the --------- ----------------- receipt by him of director's fees as described above. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director director of the Bank as of the later of his 65th birthday or January 1, 1989 (the "Retirement Age")birthday.

Deferral Election. The Director heretofore has deferred the --------- ----------------- receipt by him of director's fees and has agreed to defer additional director's fees, all as described above. In exchange for such agreement to defer and deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director director of the Bank as of the later of his 65th birthday or January 1, 1989 (the "Retirement Age")birthday.