Common use of Unfunded Arrangement Clause in Contracts

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 121 contracts

Samples: Supplemental Executive Retirement Agreement (MBT Financial Corp), Supplemental Executive Retirement Agreement (MBT Financial Corp), Salary Continuation Agreement (Tib Financial Corp.)

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Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 83 contracts

Samples: Salary Continuation Agreement (Consumers Bancorp Inc /Oh/), Supplemental Executive Retirement Agreement (United Bankshares Inc/Wv), Salary Continuation Agreement (Codorus Valley Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 74 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Lake Shore Bancorp, Inc.), Supplemental Executive Retirement Plan Agreement (Mid Penn Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Mid Penn Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 35 contracts

Samples: Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 34 contracts

Samples: Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc), Salary Continuation Agreement (Cortland Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 34 contracts

Samples: Salary Continuation Agreement (Paragon Commercial CORP), Salary Continuation Agreement (Paragon Commercial CORP), Salary Continuation Agreement (Paragon Commercial CORP)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 32 contracts

Samples: Executive Salary Continuation Agreement (Columbia Bancorp \Or\), Salary Continuation Agreement (Cortland Bancorp Inc), Executive Salary Continuation Agreement (Columbia Bancorp \Or\)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 27 contracts

Samples: Salary Continuation Agreement (Bank of the James Financial Group Inc), Salary Continuation Agreement (Bank of Marin Bancorp), Deferred Compensation Agreement (Bancorp 34, Inc.)

Unfunded Arrangement. The Executive and the Executive's beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and the Executive's beneficiary have no preferred or secured claim.

Appears in 27 contracts

Samples: Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Executive Supplemental Retirement Plan (Community Valley Bancorp)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 26 contracts

Samples: Salary Continuation Agreement (United Bancshares Inc/Oh), Salary Continuation Agreement (Westbury Bancorp, Inc.), Salary Continuation Agreement (Westbury Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 24 contracts

Samples: Salary Continuation Agreement (Luther Burbank Corp), Salary Continuation Agreement (Luther Burbank Corp), Salary Continuation Agreement (Luther Burbank Corp)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 23 contracts

Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 22 contracts

Samples: Salary Continuation Agreement, Salary Continuation Agreement, Salary Continuation Agreement (First Reliance Bancshares Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 22 contracts

Samples: Executive Supplemental Compensation Agreement, Executive Supplemental Compensation Agreement, Executive Supplemental Compensation Agreement (FNB Bancorp/Ca/)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 21 contracts

Samples: Salary Continuation Agreement (National Bankshares Inc), Supplemental Executive Retirement Plan Agreement (Emclaire Financial Corp), Supplemental Executive Retirement Plan Agreement (Habersham Bancorp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 17 contracts

Samples: Supplemental Executive Retirement Agreement (South Financial Group Inc), Supplemental Retirement Agreement (United Financial Corp \Mn\), Supplemental Executive Retirement Agreement (South Financial Group Inc)

Unfunded Arrangement. The Executive and beneficiary the Executive’s Beneficiary are general unsecured creditors of the Company Employer for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Employer to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is insurance, annuity contract or other asset purchased by Employer to fund its obligations under this Agreement shall be a general asset of the Company Employer to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 17 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Eagle Bancorp Inc), Supplemental Executive Retirement Plan Agreement, Supplemental Executive Retirement Plan Agreement

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company and the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company and the Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company and/or the Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 16 contracts

Samples: Employment Agreement (1st United Bancorp, Inc.), Employment Agreement (1st United Bancorp, Inc.), Employment Agreement (1st United Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary are is a general unsecured creditors creditor of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary have has no preferred or secured claim.

Appears in 16 contracts

Samples: Supplemental Executive Retirement Agreement (Plumas Bancorp), Supplemental Executive Retirement Agreement, Executive Supplemental Income Agreement (Origin Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such the benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life purchased by the Bank is a general asset of the Company Bank as to which the Executive and beneficiary have no preferred or secured claim, or any right, title or interest.

Appears in 12 contracts

Samples: Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares)

Unfunded Arrangement. The Executive and beneficiary the Executive’s beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary beneficiary(ies) have no preferred or secured claim.

Appears in 12 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp), Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp), Supplemental Executive Retirement Plan Agreement (Premierwest Bancorp)

Unfunded Arrangement. The Executive and beneficiary the Executive’s Beneficiary are general unsecured creditors of the Company Employer for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Employer to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Employer to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 12 contracts

Samples: Supplemental Salary Continuation Plan Agreement (Tennessee Commerce Bancorp, Inc.), Salary Continuation Plan Agreement (Charter Financial Corp/Ga), Salary Continuation Plan (Charter Financial Corp/Ga)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such the benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 12 contracts

Samples: Salary Continuation Agreement (Grandsouth Bancorporation), Salary Continuation Agreement (Southern First Bancshares Inc), Salary Continuation Agreement (First Reliance Bancshares Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 11 contracts

Samples: Salary Continuation Agreement (Westbury Bancorp, Inc.), Salary Continuation Agreement (Synovus Financial Corp), Salary Continuation Agreement (Community Financial Corp /Va/)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 11 contracts

Samples: Salary Continuation Agreement (Peoples Federal Bancshares, Inc.), Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.), Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary are is a general unsecured creditors creditor of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary have has no preferred or secured claim.

Appears in 11 contracts

Samples: Supplemental Executive Retirement Agreement (Southern California Bancorp \ CA), Supplemental Executive Retirement Agreement (Southern California Bancorp \ CA), Supplemental Executive Retirement Agreement (Lyons Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary the Executive Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Executive Beneficiary have no preferred or secured claim.

Appears in 10 contracts

Samples: Change in Control Agreement (Bank of Commerce Holdings), Change in Control Agreement (Bank of Commerce Holdings), Salary Continuation Agreement (Bank of Commerce Holdings)

Unfunded Arrangement. The Executive and beneficiary Executive's beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary the Executive's beneficiary(ies) have no preferred or secured claim.

Appears in 8 contracts

Samples: Executive Survivor Income Agreement (Premierwest Bancorp), Executive Survivor Income Agreement (Middlefield Banc Corp), Executive Survivor Income Agreement (Middlefield Banc Corp)

Unfunded Arrangement. The Executive and beneficiary his beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 8 contracts

Samples: Salary Continuation Agreement (First Northern Community Bancorp), Salary Continuation Agreement (Unizan Financial Corp), Salary Continuation Agreement (Newmil Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 8 contracts

Samples: Salary Continuation Agreement, Salary Continuation Agreement (Community Financial Corp /Md/), Salary Continuation Agreement (Community Financial Corp /Md/)

Unfunded Arrangement. The Executive and beneficiary beneficiaries are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 7 contracts

Samples: Salary Continuation Agreement (West Pointe Bancorp Inc), Salary Continuation Agreement (West Pointe Bancorp Inc), Salary Continuation Agreement (West Pointe Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim; provided, however, that the Company is under no obligation to purchase any life insurance on the Executive by executing this Agreement.

Appears in 7 contracts

Samples: Salary Continuation Agreement (Greer Bancshares Inc), Salary Continuation Agreement (Greer Bancshares Inc), Salary Continuation Agreement (Greer Bancshares Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreementbenefits. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Tidelands Bancshares Inc), Salary Continuation Agreement (Tidelands Bancshares Inc), Salary Continuation Agreement (Tidelands Bancshares Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp), Salary Continuation Agreement (Citizens South Banking Corp)

Unfunded Arrangement. The Executive and the Executive's beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and the Executive's beneficiary have no preferred or secured claim.

Appears in 6 contracts

Samples: Executive Deferred Compensation Agreement (QCR Holdings Inc), Executive Deferred Compensation Agreement (QCR Holdings Inc), Executive Deferred Compensation Agreement (QCR Holdings Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 6 contracts

Samples: Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West), Salary Continuation Agreement (Capital Corp of the West)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 6 contracts

Samples: Supplemental Executive Retirement Agreement (Home Federal Bancorp), Supplemental Executive Retirement Agreement (Home Federal Bancorp), Supplemental Executive Retirement Agreement (Community Partners Bancorp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to or anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 5 contracts

Samples: Supplemental Executive Retirement Agreement (Southbanc Shares Inc), Supplemental Executive Retirement Plan (Provident Community Bancshares, Inc.), Supplemental Executive Retirement Agreement (Southbanc Shares Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 5 contracts

Samples: Supplemental Salary Continuation Agreement (Investar Holding Corp), Supplemental Salary Continuation Agreement (Investar Holding Corp), Salary Continuation Agreement (Investar Holding Corp)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Service 1st Bancorp), Salary Continuation Agreement (Service 1st Bancorp), Salary Continuation Agreement (Service 1st Bancorp)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbranceencumbrance by the Executive, attachment, or attachment or garnishment by the Executive’s creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Third Coast Bancshares, Inc.), Salary Continuation Agreement (Third Coast Bancshares, Inc.), Salary Continuation Agreement (Third Coast Bancshares, Inc.)

Unfunded Arrangement. The Executive and beneficiary are is a general unsecured creditors creditor of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life in which the Bank is the named beneficiary or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary have has no preferred or secured claim.

Appears in 5 contracts

Samples: Supplemental Executive Retirement Agreement (WashingtonFirst Bankshares, Inc.), Supplemental Executive Retirement Agreement (WashingtonFirst Bankshares, Inc.), Supplemental Executive Retirement Agreement (WashingtonFirst Bankshares, Inc.)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Corporation for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Corporation to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company Corporation to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 5 contracts

Samples: Supplemental Executive Retirement Agreement (CenterState Banks, Inc.), Supplemental Executive Retirement Agreement (CenterState Banks, Inc.), Supplemental Executive Retirement Agreement (CenterState Banks, Inc.)

Unfunded Arrangement. The Executive and any beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance Insurance on the Executive's life ’s life, if any, is a general asset of the Company Bank to which the Executive and any beneficiary shall have no preferred or secured claim.

Appears in 5 contracts

Samples: Salary Continuation Agreement (Federal Trust Corp), Salary Continuation Agreement (Federal Trust Corp), Salary Continuation Agreement (Federal Trust Corp)

Unfunded Arrangement. The Executive and his/her designated beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 5 contracts

Samples: Salary Continuation Agreement (First Community Financial Corp), Salary Continuation Agreement (First Community Financial Corp), Salary Continuation Agreement (First Community Financial Corp)

Unfunded Arrangement. The Executive and beneficiary the Executive's beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary beneficiary(ies) have no preferred or secured claim.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Premierwest Bancorp), Salary Continuation Agreement (Intermountain Community Bancorp), Salary Continuation Agreement (Intermountain Community Bancorp)

Unfunded Arrangement. The Executive and the beneficiary thereof are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 4 contracts

Samples: Executive Deferred Compensation Agreement (Ohio Valley Banc Corp), Executive Deferred Compensation Agreement (Ohio Valley Banc Corp), Salary Continuation Agreement (Ohio Valley Banc Corp)

Unfunded Arrangement. The Executive Executives and beneficiary beneficiaries are general unsecured creditors of the Company and their respective Employers for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company and the respective Employers to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company or the Employer to which the Executive and beneficiary have no preferred or secured claim.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc), Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc), Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere unsecured promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Cornerstone Bancorp Inc), Salary Continuation Agreement (Cornerstone Bancorp Inc), Salary Continuation Agreement (Cornerstone Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary Executive’s beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary the Executive’s beneficiary(ies) have no preferred or secured claim.

Appears in 4 contracts

Samples: Executive Survivor Income Agreement (Middlefield Banc Corp), Executive Survivor Income Agreement (Wilson Bank Holding Co), Executive Survivor Income Agreement (Wilson Bank Holding Co)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Tib Financial Corp.), Salary Continuation Agreement (Floridian Financial Group Inc), Salary Continuation Agreement (Tib Financial Corp.)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company Bank to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 4 contracts

Samples: Executive Deferred Compensation Agreement, Executive Deferred Compensation Agreement (First Ulb Corp.), Executive Deferred Compensation Agreement (First Ulb Corp.)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Corporation for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Corporation to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company Corporation to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (National Bankshares Inc), Supplemental Executive Retirement Plan Agreement (Habersham Bancorp), Salary Continuation Agreement (National Bankshares Inc)

Unfunded Arrangement. The Executive (and beneficiary are any Beneficiary) is a general unsecured creditors creditor of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal fund asset is a general asset of the Company Bank to which the Executive (and beneficiary have any Beneficiary) has no preferred or secured claim.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp)

Unfunded Arrangement. The Executive and beneficiary beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's =s life is a general asset of the Company Bank to which the Executive and beneficiary beneficiary(ies) have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Crescent Financial Corp)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, encumbrance by the Executive or attachment or garnishment by the Executive’s creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (CU Bancorp), Salary Continuation Agreement (CU Bancorp), Salary Continuation Agreement (Washington Banking Co)

Unfunded Arrangement. The Executive and beneficiary Beneficiary (and any other parties with rights under this Agreement) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Appalachian Bancshares Inc), Salary Continuation Agreement (Appalachian Bancshares Inc), Salary Continuation Agreement (Appalachian Bancshares Inc)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp), Executive Deferred Compensation Agreement (Middlefield Banc Corp)

Unfunded Arrangement. The Under this Agreement, the Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Executive Deferred Compensation Agreement (Greene County Bancshares Inc), Executive Deferred Compensation Agreement (Greene County Bancshares Inc), Executive Deferred Compensation Agreement (Greene County Bancshares Inc)

Unfunded Arrangement. The Executive and the Executive’s beneficiary are general unsecured creditors of the Company Employer for the payment of benefits under this AgreementPlan. The benefits represent the a mere promise by the Company Employer to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Charter Financial Corp), Supplemental Executive Retirement Plan Agreement (Charter Financial Corp), Supplemental Executive Retirement Plan Agreement (Charter Financial Corp)

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Unfunded Arrangement. The Executive and his beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (High Point Financial Corp), Salary Continuation Agreement (High Point Financial Corp), Salary Continuation Agreement (High Point Financial Corp)

Unfunded Arrangement. The Executive and beneficiary Executive’s beneficiary(ies) are general unsecured creditors of the Company theBank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary the Executive’s beneficiary(ies) have no preferred or secured claim.

Appears in 3 contracts

Samples: Executive Survivor Income Agreement (Premierwest Bancorp), Executive Survivor Income Agreement (Premierwest Bancorp), Executive Survivor Income Agreement (Premierwest Bancorp)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (First Keystone Corp), Salary Continuation Agreement (First Keystone Corp), Executive Deferred Compensation Agreement (Centerstate Banks of Florida Inc)

Unfunded Arrangement. The Executive and beneficiary the Executive's Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares), Salary Continuation Agreement (American River Bankshares)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Home Federal Bancorp, Inc.), Salary Continuation Agreement (Home Federal Bancorp, Inc.), Salary Continuation Agreement (Home Federal Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary his Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 3 contracts

Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)

Unfunded Arrangement. The Executive and the Executive’s beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and the Executive’s beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Executive Deferred Compensation Agreement (PSB Holdings Inc /Wi/), Executive Deferred Compensation Agreement (QCR Holdings Inc)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Nexity Financial Corp), Salary Continuation Agreement (Nexity Financial Corp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, sale transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Community Heritage Financial, Inc.), Supplemental Executive Retirement Plan Agreement (Community Heritage Financial, Inc.)

Unfunded Arrangement. The Executive and any beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Delhi Bank Corp), Salary Continuation Agreement (Delhi Bank Corp)

Unfunded Arrangement. The Executive and the beneficiary thereof are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc), Supplemental Executive Retirement Plan Agreement (Laurel Capital Group Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Community First Bancorp), Salary Continuation Agreement (First South Bancorp Inc)

Unfunded Arrangement. The Executive (and beneficiary are any Beneficiary) is a general unsecured creditors creditor of the Company Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal fund asset is a general asset of the Company Bank to which the Executive (and beneficiary have any Beneficiary) has no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Cambridge Bancorp), Supplemental Executive Retirement Agreement (Cambridge Bancorp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Firstbank Corp/Id), Salary Continuation Agreement (Firstbank Corp/Id)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Executive Deferred Compensation Agreement (Ohio Valley Banc Corp), Salary Continuation Agreement (Ohio Valley Banc Corp)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (West Pointe Bancorp Inc), Salary Continuation Agreement (West Pointe Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditorscreditors of the Executive. Any insurance on the Executive's ’s life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.), Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary the Executive’s Beneficiary are general unsecured creditors of the Company Association for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Association to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Association to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Plan (Fraternity Community Bancorp Inc), Supplemental Executive Retirement Plan (Fraternity Community Bancorp Inc)

Unfunded Arrangement. The Executive and the Executive’s beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company to which the Executive and the Executive’s beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Executive Deferred Compensation Agreement (ISB Financial Corp.), Executive Deferred Compensation Agreement (Coastal Banking Co Inc)

Unfunded Arrangement. The Executive and beneficiary the Executive’s beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights right to benefits under the Agreement are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary beneficiary(ies) have no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc), Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Fentura Financial Inc), Supplemental Executive Retirement Agreement (Fentura Financial Inc)

Unfunded Arrangement. The Executive and any designated beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Wesbanco Inc), Salary Continuation Agreement (Wesbanco Inc)

Unfunded Arrangement. The Executive and beneficiary the Executive's Beneficiary are general unsecured creditors of the Company Employer for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Employer to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Employer to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Community Capital Bancshares Inc), Salary Continuation Agreement (Community Capital Bancshares Inc)

Unfunded Arrangement. The Executive and beneficiary Executive’s beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary the Executive’s beneficiary(ies) have no preferred or secured claim.

Appears in 2 contracts

Samples: Executive Survivor Income Agreement (Wilson Bank Holding Co), Executive Survivor Income Agreement (Wilson Bank Holding Co)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Intermountain Community Bancorp), Salary Continuation Agreement (Intermountain Community Bancorp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (CBTX, Inc.), Executive Employment Agreement (CBTX, Inc.)

Unfunded Arrangement. The Executive and beneficiary his beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary beneficiary(ies) have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)

Unfunded Arrangement. The Executive and any beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance Insurance on the Executive's life life, if any, is a general asset of the Company to which the Executive and any beneficiary shall have no preferred or secured claim.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Federal Trust Corp), Salary Continuation Agreement (Federal Trust Corp)

Unfunded Arrangement. The Executive and beneficiary his beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Salary Continuation Agreement (First Northern Community Bancorp)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company to which the Executive and beneficiary the Beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Salary Continuation Agreement (Ohio Valley Banc Corp)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for or the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Salary Continuation Agreement (Dimeco Inc)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are arc not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company to which the f lie Executive and beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Salary Continuation Agreement (Mid Penn Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Salary Continuation Agreement (Home Bancorp Wisconsin, Inc.)

Unfunded Arrangement. The Executive and beneficiary the Executive’s Beneficiary are general unsecured creditors of the Company Employer for the payment of benefits under this AgreementPlan. The benefits represent the mere promise by the Company Employer to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's ’s life is a general asset of the Company Employer to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan (ConnectOne Bancorp, Inc.)

Unfunded Arrangement. The Executive and the Executive’s beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company to which the Executive and beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Executive Nonqualified Deferred Compensation Agreement (Lithia Motors Inc)

Unfunded Arrangement. The Executive and beneficiary the Executive’s Beneficiary are general unsecured creditors of the Company Employer for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Employer to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, attachment or garnishment by creditors. Any insurance on the Executive's life is insurance, annuity contract or other asset purchased by Employer to fund its obligations under this Agreement shall be a general asset of the Company Employer to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Supplemental Executive Retirement Plan Agreement (Sound Financial Bancorp, Inc.)

Unfunded Arrangement. The Executive and beneficiary the Executive's beneficiary(ies) are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights right to benefits under the Agreement are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary beneficiary(ies) have no preferred or secured claim.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Smithtown Bancorp Inc)

Unfunded Arrangement. The Executive and beneficiary the Beneficiary are general unsecured creditors of the Company for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company to pay distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive's life or other informal funding asset is a general asset of the Company Comp-any to which the Executive and beneficiary Beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Salary Continuation Agreement (Community Financial Corp /Md/)

Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, encumbrance by the Executive or attachment or garnishment by the Executive's creditors. Any insurance on the Executive's life is a general asset of the Company Bank to which the Executive and beneficiary have no preferred or secured claim.

Appears in 1 contract

Samples: Executive Deferred Compensation Agreement (PSB Holdings Inc /Wi/)

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