Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to which the Executive and beneficiary(ies) have no preferred or secured claim.
Appears in 4 contracts
Samples: Continuation Agreement (Intermountain Community Bancorp), Continuation Agreement (Premierwest Bancorp), Salary Continuation Agreement (Premierwest Bancorp)
Unfunded Arrangement. The Executive and the Executive's ’s beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 Bank to which the Executive and 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 the Executive's beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the 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 Bank to which the Executive and 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 the Executive's ’s beneficiary(ies) are general unsecured creditors of the Bank theBank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to which the Executive and the Executive’s beneficiary(ies) have no preferred or secured claim.. 6.9
Appears in 3 contracts
Samples: Income Agreement (Premierwest Bancorp), Income Agreement (Premierwest Bancorp), Income Agreement (Premierwest Bancorp)
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) any beneficiary are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 Bank to which the Executive and beneficiary(ies) beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Delhi Bank Corp), Continuation Agreement (Delhi Bank Corp)
Unfunded Arrangement. The Executive and the Executive's ’s beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the 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 Bank to which the Executive and 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 the Executive's ’s beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to which the Executive and the Executive’s beneficiary(ies) have no preferred or secured claim.
Appears in 2 contracts
Samples: Survivor Income Agreement (Wilson Bank Holding Co), Survivor Income Agreement (Wilson Bank Holding Co)
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) Beneficiary are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to which the Executive and beneficiary(ies) Beneficiary have no preferred or secured claim.
Appears in 2 contracts
Samples: Continuation Agreement (Intermountain Community Bancorp), Continuation Agreement (Intermountain Community Bancorp)
Unfunded Arrangement. The Executive and the Executive's his beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 Bank to which the Executive and beneficiary(ies) have no preferred or secured claim.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Split Dollar Agreement (Newmil Bancorp Inc)
Unfunded Arrangement. The Executive and the Executive's ’s beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 Bank to which the Executive and the Executive’s beneficiary(ies) have no preferred or secured claimclaim or any other rights whatsoever.
Appears in 1 contract
Samples: Executive Survivor Income Agreement (Western Sierra Bancorp)
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) Beneficiary are general -------------------- unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the 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 Bank to which the Executive and beneficiary(ies) Beneficiary have no preferred or secured claim.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Cooperative Bankshares Inc)
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) any beneficiary are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 be creditors. Any insurance on the Executive's ’s life is a general asset of the Bank to which the Executive and beneficiary(ies) beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to of which the Executive and the Executive's beneficiary(ies) have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Executive and the Executive's her beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 Bank to which the Executive and beneficiary(ies) have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Executive and the Executive's his beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to which the Executive and beneficiary(ies) have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the 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 Bank to which the Executive and 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 the Executive's beneficiary(ies) any beneficiary are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 Bank to which the Executive and beneficiary(ies) beneficiary have no preferred or secured claim.
Appears in 1 contract
Unfunded Arrangement. The Executive and the Executive's beneficiary(ies) Executive Beneficiary are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by 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 life is a general asset of the Bank to which the Executive and beneficiary(ies) Executive Beneficiary have no preferred or secured claim.
Appears in 1 contract
