Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 64 contracts
Samples: Director Retirement Agreement (Oak Valley Bancorp), Director Deferred Fee Agreement (Ohio Valley Banc Corp), Phantom Stock Appreciation Rights Agreement (Standard Financial Corp.)
Unfunded Arrangement. The Director 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 Director's ’s life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 29 contracts
Samples: Director Retirement Agreement, Director Retirement Agreement, Phantom Stock Appreciation Rights Agreement (Standard Financial Corp.)
Unfunded Arrangement. The Director and the Director'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 Director's life is a general asset of the Company to which the Director and the Director's beneficiary have no preferred or secured claim.
Appears in 20 contracts
Samples: Director Deferred Fee Agreement (Southern Michigan Bancorp Inc), Director Deferred Fee Agreement (Tib Financial Corp.), Director Deferred Fee Agreement (Community Financial Corp /Va/)
Unfunded Arrangement. The Director 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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 15 contracts
Samples: Director Deferred Fee Agreement (Central Valley Community Bancorp), Director Emeritus Agreement (Riverview Financial Corp), Director Emeritus Agreement (Riverview Financial Corp)
Unfunded Arrangement. The Director and the Director’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 Director's ’s life is a general asset of the Company to which the Director and the Director’s beneficiary have no preferred or secured claim.
Appears in 13 contracts
Samples: Director Deferred Fee Agreement (Madison County Financial, Inc.), Director Deferred Fee Agreement (Madison County Financial, Inc.), Director Deferred Fee Agreement (Madison County Financial, Inc.)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 12 contracts
Samples: Director Retirement Agreement (Ohio Valley Banc Corp), Director Deferred Fee Agreement, Director Deferred Fee Agreement (Ohio Valley Banc Corp)
Unfunded Arrangement. The Director and beneficiary are is a 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 Director's life or any other asset held in connection with this Agreement is a general asset of the Company to which the Director and beneficiary have has no preferred or secured claim.
Appears in 10 contracts
Samples: Director Revenue Neutral Retirement Agreement (First Community Financial Corp), Director Revenue Neutral Retirement Agreement (First Community Financial Corp), Director Revenue Neutral Retirement Agreement (First Community Financial Corp)
Unfunded Arrangement. The Director 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 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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 9 contracts
Samples: Director Retirement Agreement, Director Retirement Agreement (Carolina Bank Holdings Inc), Director Retirement Agreement (Carolina Bank Holdings Inc)
Unfunded Arrangement. The Director 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 Director's ’s life is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 8 contracts
Samples: Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc)
Unfunded Arrangement. The Director 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 Director's life or other informal funding asset is a general asset of the Company to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 8 contracts
Samples: Director Deferred Fee Agreement (Mid Penn Bancorp Inc), Director Deferred Fee Agreement (Ohio Valley Banc Corp), Director Retirement Agreement (Ohio Valley Banc Corp)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 8 contracts
Samples: Director Retirement Agreement (Citizens South Banking Corp), Director Retirement Agreement (Citizens South Banking Corp), Deferred Compensation and Income Continuation Agreement (Citizens South Banking Corp)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 7 contracts
Samples: Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp)
Unfunded Arrangement. The Under this Agreement, the Director 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 7 contracts
Samples: Deferred Compensation Agreement (Greene County Bancshares Inc), Director Deferred Fee Agreement (Greene County Bancshares Inc), Deferred Compensation Agreement (Greene County Bancshares Inc)
Unfunded Arrangement. The Director 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 Director's life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 7 contracts
Samples: Director Deferred Compensation Agreement (LINKBANCORP, Inc.), Director Deferred Compensation Agreement (LINKBANCORP, Inc.), New Director Fee Continuation Plan Agreement (Rhinebeck Bancorp, Inc.)
Unfunded Arrangement. The Director 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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 6 contracts
Samples: Director Retirement Agreement (Peoples Federal Bancshares, Inc.), Director Retirement Agreement (Peoples Federal Bancshares, Inc.), Director Retirement Agreement (Peoples Federal Bancshares, Inc.)
Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the This Agreement constitutes a 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 Director's ’s life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 5 contracts
Samples: Director Elective Income Deferral Agreement (Capital Corp of the West), Director Elective Income Deferral Agreement (Capital Corp of the West), Director Elective Income Deferral Agreement (Capital Corp of the West)
Unfunded Arrangement. The Director and beneficiary Director’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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary the Director’s beneficiary(ies) have no preferred or secured claim.
Appears in 5 contracts
Samples: Director Survivor Income Agreement (Wilson Bank Holding Co), Director Survivor Income Agreement (Wilson Bank Holding Co), Director Survivor Income Agreement (Wilson Bank Holding Co)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 5 contracts
Samples: Retirement Agreement, Director Elective Income Deferral Agreement (Capital Corp of the West), Retirement Agreement (Dutchfork Bancshares Inc)
Unfunded Arrangement. The Director 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 Director's life or other informal funding asset is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 4 contracts
Samples: Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp)
Unfunded Arrangement. The Director and beneficiary are is a general unsecured creditors creditor 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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary have has no preferred or secured claim.
Appears in 4 contracts
Samples: Director Retirement Agreement (Middlefield Banc Corp), Director Retirement Agreement (Middlefield Banc Corp), Director Retirement Agreement (Middlefield Banc Corp)
Unfunded Arrangement. The Director and beneficiary the Beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Amended 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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 4 contracts
Samples: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)
Unfunded Arrangement. The Director and beneficiary are is a general unsecured creditors creditor 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 Director's life or any other asset held in connection with this Agreement is a general asset of the Company to which the Director and beneficiary have has no preferred or secured claim.
Appears in 4 contracts
Samples: Director Revenue Neutral Retirement Agreement (Orrstown Financial Services Inc), Deferred Compensation Agreement (Banc Corp), Deferred Compensation Agreement (Banc Corp)
Unfunded Arrangement. The Director 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 Director's life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 4 contracts
Samples: Director Deferred Fee Agreement (Home Federal Bancorp), Director Deferred Fee Agreement (Home Federal Bancorp), Director Deferred Fee Agreement (Home Federal Bancorp)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 4 contracts
Samples: Director Deferred Fee Agreement (Central Valley Community Bancorp), Director Deferred Compensation Agreement (First Farmers & Merchants Corp), Director Deferred Compensation Agreement (First Farmers & Merchants Corp)
Unfunded Arrangement. The Director 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 contractual obligation of 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 3 contracts
Samples: Supplemental Retirement Plan (Ameriana Bancorp), Supplemental Retirement Plan (Ameriana Bancorp), Supplemental Retirement Plan (Ameriana Bancorp)
Unfunded Arrangement. The Director 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, attachment or garnishment by creditors. Any insurance on the Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 3 contracts
Samples: Director Deferred Fee Agreement (First Perry Bancorp, Inc), Director Emeritus Agreement (First Perry Bancorp, Inc), Director Deferred Fee Agreement (Riverview Financial Corp)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Retirement Agreement (Community Financial Corp /Va/), Salary Continuation Agreement (Appalachian Bancshares Inc)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Phantom Stock Agreement (BSB Bancorp, Inc.), Director Deferred Fee Agreement (National Penn Bancshares Inc)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Retirement Agreement (Mercer Bancorp, Inc.), Director Retirement Agreement (Mercer Bancorp, Inc.)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Deferred Fee Agreement (Harvard Illinois Bancorp, Inc.), Director Retirement Agreement (Sierra Bancorp)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Retirement Agreement (Cortland Bancorp Inc), Director Retirement Agreement (Cortland Bancorp Inc)
Unfunded Arrangement. The Director and the Director’s beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Amended 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 Director's ’s life is a general asset of the Company Bank to which the Director and the Director’s beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)
Unfunded Arrangement. The Director 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 creditorscreditors of the Director. Any insurance on the Director's life is a general unpledged, unrestricted asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.secured
Appears in 2 contracts
Samples: Deferred Fee Agreement (Plumas Bancorp), Deferred Fee Agreement (Plumas Bancorp)
Unfunded Arrangement. The Director and beneficiary the Beneficiary are general unsecured creditors of the Company and/or the Bank for the payment distribution of benefits under this Agreement. The benefits represent the mere promise by the Company and/or the 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 Director's life or other informal funding asset is a general asset of the Company and/or the Bank to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Deferred Compensation Agreement (Sussex Bancorp), Director Deferred Compensation Agreement (Sussex Bancorp)
Unfunded Arrangement. The Director and the Director’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 Director's ’s life is a general asset of the Company Bank to which the Director and the Director’s beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)
Unfunded Arrangement. The Director 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 to any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditorscreditors or beneficiaries of the Director. Any insurance obtained by the Bank on the Director's life in connection with this Agreement is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Deferred Fee Agreement (Heritage Commerce Corp), Deferred Fee Agreement (Heritage Commerce Corp)
Unfunded Arrangement. The Director and the Director’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 arc not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Director's ’s life is a general asset of the Company to which the Director and the Director’s beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Coastal Banking Co Inc)
Unfunded Arrangement. The Director 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 to any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditorscreditors or beneficiaries of the Director. Any insurance on the Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director and any beneficiary are general unsecured creditors of the Company Corporation for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Corporation 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 Director's ’s life is a general asset of the Company Corporation to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary have has no preferred or secured claim.
Appears in 1 contract
Samples: Supplemental Director Retirement Agreement (BV Financial, Inc.)
Unfunded Arrangement. The Director 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 7 <PAGE> not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement
Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company Corporation for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Corporation 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 Director's ’s life is a general asset of the Company Corporation to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Split Dollar Agreement (First Farmers & Merchants Corp)
Unfunded Arrangement. The Director 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 Director's ’s life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (Independent Bank Corp)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company Corporation to which the Director and beneficiary the Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (First Farmers & Merchants Corp)
Unfunded Arrangement. The Director 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 Director's life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (Ohio Valley Banc Corp)
Unfunded Arrangement. The Director and beneficiary Director’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 Director's life is a general asset of the Company Bank to which the Director and beneficiary the Director’s beneficiary(ies) have no preferred or secured claim.
Appears in 1 contract
Samples: Director Survivor Income Agreement (Wilson Bank Holding Co)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (Cooperative Bankshares Inc)
Unfunded Arrangement. The Director 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 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (First South Bancorp Inc)
Unfunded Arrangement. The Director and the Director’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 Director's life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Outside Director Nonqualified Deferred Compensation Agreement (Lithia Motors Inc)
Unfunded Arrangement. The Director and beneficiary are is a 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary have has no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (Central Valley Community Bancorp)
Unfunded Arrangement. The Director 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 Director's ’s life is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Compensation Agreement (Redwood Empire Bancorp)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Salary Continuation Agreement (Appalachian Bancshares Inc)
Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits represent the that mere promise by the Company Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipationantiCiPELtion, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Director's life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director and beneficiary are is a general unsecured creditors creditor 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 Director's life or any other asset held in connection with this Agreement is a general asset of the Company Bank to which the Director and beneficiary have has no preferred or secured claim.
Appears in 1 contract
Samples: Director Indexed Retirement Agreement (Home Federal Bancorp Inc)
Unfunded Arrangement. The Director and Director'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 Director's life is a general asset of the Company to which the Director and the Director's beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Community Valley Bancorp)
Unfunded Arrangement. The Director 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 to any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditorscreditors or beneficiaries of the Director. Any insurance on the Director's ’s life is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company Corporation for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Corporation 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 Director's ’s life is a general asset of the Company Corporation to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company Corporation for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company Corporation 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 Director's life is a general asset of the Company Corporation to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company Bank for the payment of benefits under this Agreement. The benefits Agreement 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Emeritus Agreement (Lawrence Financial Holdings Inc)
Unfunded Arrangement. The Director and beneficiary are is a 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 Director's life or any other asset held in connection with this Agreement is a general asset of the Company to which the Director and beneficiary have no preferred or secured claim.has no
Appears in 1 contract
Samples: Director Revenue Neutral Retirement Agreement (First Community Financial Corp)
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director and beneficiary are is a general unsecured creditors creditor 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 Director's ’s life or any other asset held in connection with this Agreement is a general asset of the Company to which the Director and beneficiary have has no preferred or secured claim.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (First Georgia Community Corp)
Unfunded Arrangement. The Director 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 Director's life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (Lawrence Financial Holdings Inc)
Unfunded Arrangement. The Director and the Director’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 Director's life is a general asset of the Company to which the Director and the Director’s beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Luxemburg Bancshares Inc)
Unfunded Arrangement. The Director 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 Director's Directors life is a general asset of the Company Bank to which the Director and beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Director Retirement Agreement (Republic Security Financial Corp)
Unfunded Arrangement. The Director and beneficiary Beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreementrestatement. 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 Director's life is a general asset of the Company to which the Director and beneficiary Beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Director 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 Director's ’s life or other informal funding asset is a general asset of the Company Bank to which the Director and beneficiary have has no preferred or secured claim.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Madison County Financial, Inc.)
