Period of Economic Hardship. Notwithstanding any other provision of this Agreement, if, in any year, payments made under this agreement would, in the sole judgment of the Board of Directors of the Association, create economic hardship for the Association’s depositors, the Board of Directors shall have sole and full authority to postpone such payments or adjust the amount of payments.
Appears in 2 contracts
Samples: Deferred Compensation Agreement (Oconee Federal Financial Corp.), Deferred Compensation Agreement (Oconee Federal Financial Corp.)
Period of Economic Hardship. Notwithstanding any other provision of this Agreement, ifIf, in any year, payments made under this agreement Agreement would, in the sole judgment of the Board of Directors of the AssociationDirectors, create economic hardship for the Association’s depositors's Depositors, the Board of Directors shall have sole and has full authority to postpone such payments or adjust the amount of payments.
Appears in 1 contract
Samples: Compensation Agreement (Texas Community Bancshares, Inc.)
Period of Economic Hardship. Notwithstanding any other provision of this Agreement, if, in any year, payments made under this agreement would, in the sole judgment of the Board of Directors of the AssociationEmployer, create economic hardship for the AssociationEmployer’s depositors, the Board of Directors shall have sole and full authority to postpone such payments or adjust the amount of payments.
Appears in 1 contract
Samples: Oconee Federal Financial Corp.
