Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 22 contracts
Samples: Trust Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Trust Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Deferred Compensation Agreement (Temecula Valley Bancorp Inc)
Hardship Distribution. Upon the Board of Director's determination (following petition by the ExecutiveDirector) that the Executive Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive Director all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 16 contracts
Samples: Fee Agreement (Community Valley Bancorp), Trust Director Deferred Fee Agreement (Southern Michigan Bancorp Inc), Fee Agreement (North Valley Bancorp)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the ExecutiveDirector) that the Executive Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive Director all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 8 contracts
Samples: Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (First Georgia Community Corp)
Hardship Distribution. Upon the Board of DirectorCompany's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.23.4, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 8 contracts
Samples: Incentive Retirement Agreement (First Litchfield Financial Corp), Incentive Retirement Agreement (First Litchfield Financial Corp), Incentive Retirement Agreement (First Litchfield Financial Corp)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 6 contracts
Samples: Deferred Compensation Agreement (Quad City Holdings Inc), Deferred Compensation Agreement (QCR Holdings Inc), Peoples State Bank Executive Deferred Compensation Agreement (PSB Holdings Inc /Wi/)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.22, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 6 contracts
Samples: Bonus Deferral Agreement (Columbia Bancorp \Or\), Bonus Deferral Agreement (Columbia Bancorp \Or\), Bonus Deferral Agreement (Columbia Bancorp \Or\)
Hardship Distribution. Upon the Board of DirectorCompany's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 4 contracts
Samples: Compensation Agreement (Southern Michigan Bancorp Inc), Agreement (Cerritos Valley Bancorp), Executive Deferred Compensation Agreement (Mid Penn Bancorp Inc)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section Subsection 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 4 contracts
Samples: Deferred Compensation Agreement (Team Financial Inc /Ks), Deferred Compensation Agreement (Team Financial Inc /Ks), Deferred Compensation Agreement (Team Financial Inc /Ks)
Hardship Distribution. Upon the Board of Director's Directors’ determination (following petition a written request by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (ISB Financial Corp.)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship. Upon such a distribution, the Deferral Account Balance shall be reduced accordingly, and no further deferrals shall be permitted for the remainder of that Plan Year.
Appears in 1 contract
Samples: Compensation Agreement (Texas United Bancshares Inc)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2Unforeseeable Emergency, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (Mercantile Bank Corp)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial finanncia1 hardship.
Appears in 1 contract
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive's beneficiary) that the Executive beneficiary has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive beneficiary all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Camco Financial Corp)
Hardship Distribution. Upon the Board of DirectorCompany's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.22.3, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Deferred Incentive Agreement (Home Federal Bancorp Inc)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2Unforeseeable Emergency, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
