Common use of Facility of Distribution Clause in Contracts

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 97 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Mid Penn Bancorp Inc), Retirement Plan Agreement (Mid Penn Bancorp Inc), Retirement Plan Agreement (Mid Penn Bancorp Inc)

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Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 75 contracts

Samples: Continuation Agreement (National Bankshares Inc), Continuation Agreement (National Bankshares Inc), Continuation Agreement

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 27 contracts

Samples: Director Deferred Fee Agreement (Mid Penn Bancorp Inc), Director Deferred Fee Agreement, Supplemental Director Retirement Agreement (First Seacoast Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 23 contracts

Samples: Supplemental Executive Retirement Agreement (Southern California Bancorp \ CA), Supplemental Executive Retirement Agreement (Southern California Bancorp \ CA), Supplemental Executive Retirement Agreement (Union Bankshares Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 16 contracts

Samples: Director Deferred Compensation Agreement (LINKBANCORP, Inc.), Deferred Compensation Agreement (LINKBANCORP, Inc.), Director Retirement Agreement (Ohio Valley Banc Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 15 contracts

Samples: Salary Continuation Agreement (Community Financial Corp /Md/), Continuation Agreement (National Bankshares Inc), Continuation Agreement (National Bankshares Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 12 contracts

Samples: Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.), Continuation Plan Agreement (Rhinebeck Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Director’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 9 contracts

Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Stock Appreciation Rights Agreement (Kinderhook Bank Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 8 contracts

Samples: Compensation Agreement (Greene County Bancshares Inc), Compensation Agreement (Greene County Bancshares Inc), Compensation Agreement (Greene County Bancshares Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall be completely discharge of any liability under this the Agreement for such distribution amount.

Appears in 6 contracts

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp), Cambridge Trust Company (Cambridge Bancorp), Salary Continuation Agreement (Harvard Illinois Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 6 contracts

Samples: Continuation Agreement (Bank of the James Financial Group Inc), Supplemental Executive Retirement Agreement (SBT Bancorp, Inc.), Continuation Agreement (Ohio Valley Banc Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person person, or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 6 contracts

Samples: Centra Bank Supplemental Executive Retirement Agreement (Centra Financial Holdings Inc), Supplemental Executive Retirement Agreement (Centra Financial Holdings Inc), Centra Bank Supplemental Executive Retirement Agreement (Centra Financial Holdings Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a Beneficiary who is a minor, incapacitated, under legal disability or considered by the Plan Administrator to a person declared incompetent or to a person be incapable of handling receipt of the disposition of that person’s propertybenefits hereunder if paid to the Beneficiary directly, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable personindividual. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 4 contracts

Samples: Supplemental Employee Retirement Plan (Cascade Bancorp), Supplemental Employee Retirement Plan (Cascade Bancorp), Supplemental Employee Retirement Plan (Cascade Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 4 contracts

Samples: Compensation Agreement (Greene County Bancshares Inc), Compensation Agreement (Ohio Valley Banc Corp), Compensation Agreement (Greene County Bancshares Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may bemaybe, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 4 contracts

Samples: www.sec.gov, Compensation Agreement (First Ulb Corp.), Compensation Agreement (First Ulb Corp.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Participant and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 4 contracts

Samples: Performance Driven Plan (First Ulb Corp.), Performance Driven Plan (First Ulb Corp.), Performance Driven Plan (First Ulb Corp.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall be completely discharge of any liability under this the Agreement for such distribution amount.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp), Provident Community Bancshares, Inc., Provident Community Bancshares, Inc.

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. OLD LINE BANK Salary Continuation Agreement

Appears in 3 contracts

Samples: Old Line Bank Salary Continuation Agreement (Old Line Bancshares Inc), Old Line Bank Salary Continuation Agreement (Old Line Bancshares Inc), Old Line Bank Salary Continuation Agreement (Old Line Bancshares Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person person, or incapable person. The Plan Administrator may require proof of incompetence, minority minority, or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Director’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 3 contracts

Samples: Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. WashingtonFirst Bank Supplemental Executive Retirement Agreement

Appears in 3 contracts

Samples: Retirement Agreement (WashingtonFirst Bankshares, Inc.), Retirement Agreement (WashingtonFirst Bankshares, Inc.), Retirement Agreement (WashingtonFirst Bankshares, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. THE STATE BANK Supplemental Executive Retirement Agreement

Appears in 2 contracts

Samples: Retirement Agreement (Fentura Financial Inc), Supplemental Executive Retirement Agreement (Fentura Financial Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable personindividual. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Employee and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 2 contracts

Samples: Deferred Bonus Agreement (Cascade Bancorp), Cascades Deferred Compensation Agreement (Cascade Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge of any liability under this the Agreement for such distribution amount.

Appears in 2 contracts

Samples: Salary Continuation Agreement (First Keystone Corp), Salary Continuation Agreement (First Keystone Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Participant and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this Agreement the Plan for such distribution amount.

Appears in 2 contracts

Samples: Deferred Compensation Agreement (Choiceone Financial Services Inc), Deferred Compensation Agreement (Choiceone Financial Services Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. The First, a National Banking Association Supplemental Executive Retirement Agreement

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (First Bancshares Inc /MS/), Supplemental Executive Retirement Agreement (First Bancshares Inc /MS/)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall be completely discharge discharged of any liability under this the Agreement for such distribution amount.

Appears in 2 contracts

Samples: Athens Federal Community Bank Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp), Athens Federal Community Bank Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp)

Facility of Distribution. If the Plan Administrator determines in its ------------------------ discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 2 contracts

Samples: Pacific Premier (Pacific Premier Bancorp Inc), Pacific Premier (Pacific Premier Bancorp Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. THE FIRST NATIONAL BANK OF MIFFLINTOWN Director Revenue Neutral Retirement Agreement

Appears in 2 contracts

Samples: Director Revenue Neutral Retirement Agreement (First Community Financial Corp), Director Revenue Neutral Retirement Agreement (First Community Financial Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Director’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. Mxxxxx Savings Bank Director Retirement Agreement

Appears in 2 contracts

Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable personindividual. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 1 contract

Samples: Salary Continuation Agreement (Plumas Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the 6 benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Agreement (Lake Shore Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person Person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 1 contract

Samples: Salary Continuation Agreement (Eagle Bancorp Montana, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator EXHIBIT 10.4 may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator EXHIBIT 10.2 may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Continuation Agreement (West Pointe Bancorp Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable personindividual. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Employee and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.. Bank of the Cascades Deferred Bonus Agreement Beneficiary Designation Form

Appears in 1 contract

Samples: Deferred Bonus Agreement (Cascade Bancorp)

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Facility of Distribution. If the Plan Administrator determines in its ------------------------- discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Retirement Agreement (Community Partners Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. PLUMAS BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Plumas Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge the Bank from any liability under this Agreement for such distribution amountAgreement.

Appears in 1 contract

Samples: Retirement Agreement (Rhinebeck Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.. HOME FEDERAL BANK Third Amended and Restated Salary Continuation Agreement

Appears in 1 contract

Samples: Salary Continuation Agreement (Home Federal Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Director Deferred Fee Agreement (Central Valley Community Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a Beneficiary who is a minor, incapacitated, under legal disability or considered by the Plan Administrator to a person declared incompetent or to a person be incapable of handling receipt of the disposition of that person’s propertybenefits hereunder if paid to the Beneficiary directly, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable personindividual. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.. Bank of the Cascades Supplemental Employee Retirement Plan

Appears in 1 contract

Samples: Supplemental Employee Retirement Plan (Cascade Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit HOME FEDERAL BANK Third Amended and Restated Salary Continuation Agreement shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 1 contract

Samples: Salary Continuation Agreement (Home Federal Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Director's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Company Director Retirement Agreement (Ohio Valley Banc Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Home Federal Bancorp, Inc.

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. THE LXXXX NATIONAL BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Lyons Bancorp Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Director’s Beneficiary, as the case may be, and shall completely discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Director Retirement Agreement (Sierra Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.. The First, A National Banking Association Supplemental Executive Retirement Agreement

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (First Bancshares Inc /MS/)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Agreement (1st United Bancorp, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable personindividual. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Employee and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.. Bank of the Cascades Deferred Bonus Agreement

Appears in 1 contract

Samples: Deferred Bonus Agreement (Cascade Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Continuation Agreement (Dimeco Inc)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and and/or the Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Retirement Agreement (River Financial Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s 's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. person The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive's Beneficiary, as the case may be, and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Retirement Agreement (Community Partners Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, . and shall completely be a complete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Supplemental Director Retirement Agreement (BV Financial, Inc.)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall completely be a compete discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Continuation Agreement (Central Valley Community Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall completely discharge any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall be completely discharge any liability under this the Agreement for equal to such distribution amount.

Appears in 1 contract

Samples: Athens Federal Community Bank Supplemental Executive Retirement Plan Agreement (Athens Bancshares Corp)

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Ameriana Bank, SB Salary Continuation Plan Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive and the Beneficiary, as the case may be, and shall completely discharge any liability under this Agreement for such distribution amount.

Appears in 1 contract

Samples: Ameriana Bancorp

Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed paid to a minor, to a person declared incompetent incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Executive Director and the Beneficiary, as the case may be, and shall completely discharge of any liability under this the Agreement for such distribution amount.

Appears in 1 contract

Samples: Neighborhood Community Bank (Newnan Coweta Bancshares Inc)

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