Incapacity of Recipient. In the event Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is appointed, any benefits under the Agreement to which such Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the Association’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Association to make distributions to any person for the benefit of the Director.
Appears in 5 contracts
Samples: Compensation Agreement, Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc)
Incapacity of Recipient. In the event the Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate estate is appointed, any benefits under the Agreement to which such the Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estateestate. Except as provided above in this paragraph, when the Association’s Board of DirectorsBoard, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Association Bank to make distributions to any person for the benefit of the Director.
Appears in 3 contracts
Samples: Compensation Agreement (First Bancorp /In/), Compensation Agreement (First Bancorp /In/), Compensation Agreement (First Bancorp /In/)
Incapacity of Recipient. In the event Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is appointed, any benefits under the Agreement to which such Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the AssociationBank’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Association Bank to make distributions to any person for the benefit of the Director.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (First Savings Financial Group Inc)
Incapacity of Recipient. In the event the Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is appointed, any benefits under the Agreement to which such such, Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the AssociationBank’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Association Bank to make distributions to any person for the benefit of the Director.
Appears in 1 contract
Samples: Director Deferred Compensation Master Agreement (River Valley Bancorp)
Incapacity of Recipient. In the event Director is declared incompetent and a conservator or other person legally charged with the care of his person or of his Estate is appointed, any benefits under the Agreement Plan to which such Director is entitled shall be paid to such conservator or other person legally charged with the care of his person or his Estate. Except as provided above in this paragraph, when the Association’s Board of Directors, in its sole discretion, determines that the Director is unable to manage his financial affairs, the Board may direct the Association to make distributions to any person for the benefit of the Director.
Appears in 1 contract
Samples: Crescent Banking Co