Hardship Distribution. Upon the Company's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the 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: Fee Agreement (Orange National Bancorp), Deferred Fee Agreement (San Joaquin Bancorp), Fee Agreement (Citizens First Bancorp Inc)
Hardship Distribution. Upon the Company's ’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the 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 3 contracts
Samples: Clovis Community Bank (Central Valley Community Bancorp), Deferred Fee Agreement (Harvard Illinois Bancorp, Inc.), Deferred Fee Agreement (Central Valley Community Bancorp)
Hardship Distribution. Upon the Company's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.22.2.2 , the Company shall distribute to the Director all or a portion of the Deferral Account balance as determined by the the, Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Ohio Valley Banc Corp)
Hardship Distribution. Upon the Company's ’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Director all or a portion of the Deferral Deferred Fee Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary in the opinion of the Board of Directors to relieve the financial hardship.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (HCSB Financial Corp)
Hardship Distribution. Upon the Company's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Director all or a portion of the Deferral Account balance as determined by the Company, Company but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Hardship Distribution. Upon the Company's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Director all or a portion of the Deferral Account 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.. ARTICLE 5
Appears in 1 contract
Hardship Distribution. Upon the Company's board of directors' determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section section 2.2.2, the Company Bank shall distribute to the Director all or a portion of the Deferral Account balance as determined as appropriate by the CompanyBank, but in no event shall the distribution be greater than the Bank believes is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Deferred Fee Agreement (California Independent Bancorp)
