Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 11 contracts
Samples: Director Deferred Fee Agreement (Mid Penn Bancorp Inc), Director Deferred Fee Agreement, Director Deferred Fee Agreement (Central Valley Community Bancorp)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance amount into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Director’s Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 4 contracts
Samples: Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance amount into the Director’s income as a result of the failure of this non-non- qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 3 contracts
Samples: Director Deferred Fee Agreement (Home Federal Bancorp), Director Deferred Fee Agreement (Home Federal Bancorp), Director Deferred Fee Agreement (Home Federal Bancorp)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance Accrual Balance into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balanceAccrual Balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 3 contracts
Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Retirement Account balance into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral these Retirement Account balancebalances, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 2 contracts
Samples: Director Revenue Neutral Retirement Agreement (First Community Financial Corp), Director Revenue Neutral Retirement Agreement (First Community Financial Corp)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance into the Director’s Participant's income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 2 contracts
Samples: Director Deferred Compensation Plan (Choiceone Financial Services Inc), Director Deferred Compensation Plan (Choiceone Financial Services Inc)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance amount into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Tib Financial Corp.)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.. THE FIRST NATIONAL BANK OF MIFFLINTOWN Director Deferred Fee Agreement BENEFICIARY DESIGNATION FORM
Appears in 1 contract
Samples: Director Deferred Fee Agreement (First Community Financial Corp)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance amount into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Director’s Deferral Account balancebalance or Accrual Balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Penns Woods Bancorp Inc)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance into the DirectorExecutive’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (Green Bankshares, Inc.)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance amount into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.. LOWCOUNTRY NATIONAL BANK Director Deferred Fee Agreement
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Coastal Banking Co Inc)
Distributions Upon Income Inclusion Under Section 409A of the Code. Upon the inclusion of any portion of the Deferral Account balance Accrual Balance into the Director’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Deferral Account balanceDirector’s vested Accrual Balance, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.
Appears in 1 contract
Samples: Director Retirement Agreement (Central Valley Community Bancorp)
