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: Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Executive 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: Director Deferred Fee Agreement (Community Valley Bancorp), Director Deferred Fee Agreement (Southern Michigan Bancorp Inc), Director Deferred Fee Agreement (First Community Bancshares Inc /In)
Hardship Distribution. Upon the Board of DirectorCompany'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 14 contracts
Samples: Director Deferred Fee Agreement (First Community Financial Corp), Director Deferred Fee Agreement (First Community Financial Corp), Deferred Fee Agreement (Appalachian Bancshares Inc)
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 (Coastal Banking Co Inc), Director Deferred Fee Agreement (Premier Commercial Bancorp), Director Deferred Fee Agreement (Community Capital Corp /Sc/)
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: Executive Incentive Retirement Agreement (First Litchfield Financial Corp), Executive Incentive Retirement Agreement (First Litchfield Financial Corp), Executive 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 2.2.22, 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: Executive Bonus Deferral Agreement (Columbia Bancorp \Or\), Executive Bonus Deferral Agreement (Columbia Bancorp \Or\), Executive Bonus Deferral Agreement (Columbia Bancorp \Or\)
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: Executive Deferred Compensation Agreement (QCR Holdings Inc), Executive Deferred Compensation Agreement (Quad City Holdings Inc), Executive Deferred Compensation Agreement (QCR Holdings 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 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: Executive Deferred 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 2.2.2, 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
Samples: Executive Deferred Compensation Agreement (Coastal Banking Co Inc)
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: Executive 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: Executive 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 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 2.2.2Unforeseeable 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
Samples: Executive Deferred Compensation Agreement (QCR Holdings Inc)
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.)
