Period of Economic Hardship. If, in any year, payments made under this Agreement would, in the sole judgment of the Board of Directors, create economic hardship for the Association’s shareholders, the Board of Directors has full authority to postpone such payments. However, upon such postponement, the Association will increase the total sum payable to the Director or the Director’s Beneficiaries under this Agreement by an actuarially determined amount.
Appears in 5 contracts
Samples: Director Deferred Compensation Agreement, Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc)
