Unclaimed Benefit. The Director shall keep the Association informed of his current address and the current address of his Beneficiaries. The Association shall not be obligated to search for the whereabouts of any person. If the location of the Director is not made known to the Association within three (3) years after the date on which any payment of the Deferred Compensation Benefit may be made, payment may be made as though the Director had died at the end of the three (3) year period. If, within one (1) additional year after such three (3) year period has elapsed, or, within three (3) years after the actual death of the Director, the Association is unable to locate any Beneficiary of the Director, then the Association may fully discharge its obligation by payment to the Estate.
Appears in 5 contracts
Samples: Compensation Agreement, Director Deferred Compensation Agreement (First Capital Inc), Director Deferred Compensation Agreement (First Capital Inc)
