TERMINATION OF ELECTION. The Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Association a Notice of Discontinuance (Exhibit B attached hereto). A Notice of Discontinuance shall be effective if filed at least twenty (20) days prior to any January 1st, April 1st, July 1st or October 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st, April 1st, July 1st or October 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed.
Appears in 4 contracts
Samples: Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc)
TERMINATION OF ELECTION. The Director’s election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Association a Notice of Discontinuance (Exhibit B attached hereto). A Notice of Discontinuance shall be effective if filed at least twenty (20) days prior to any January 1st, April 1st, July 1st or October 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st, April 1st, July 1st or October 1st following its filing, whichever applies, and shall apply only with respect to the Director’s compensation attributable to services not yet performed.. SECTION IV
Appears in 1 contract
TERMINATION OF ELECTION. The Director’s 's election to defer compensation shall continue in effect, pursuant to the terms of this Agreement unless and until the Director files with the Association Bank a Notice of Discontinuance (Exhibit B attached hereto). A Notice of Discontinuance shall be effective if filed at least twenty (20) days prior to any January 1st, April 1st, July 1st or October 1st. Such Notice of Discontinuance shall be effective commencing with the January 1st, April 1st, July 1st or October 1st following its filing, whichever applies, and shall apply only with respect to the Director’s 's compensation attributable to services not yet performed.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (Citizens Bancorp)
