SOUTHERN MICHIGAN BANK & TRUST DEFERRED COMPENSATION AGREEMENTDeferred Compensation Agreement • March 30th, 2004 • Southern Michigan Bancorp Inc • State commercial banks • Michigan
THIS AGREEMENT is made this _________ day of ___________________, 2003, by and between Southern Michigan Bank & Trust (the "Company"), and [NAME OF EXECUTIVE] (the "Executive").
SOUTHERN MICHIGAN BANK & TRUST DIRECTOR DEFERRED FEE AGREEMENTDirector Deferred Fee Agreement • March 30th, 2004 • Southern Michigan Bancorp Inc • State commercial banks • Michigan
To encourage the Director to remain a member of the Company's Board of Directors, the Company is willing to provide to the Director a deferred fee opportunity. The Company will pay the Director's benefits from the Company's general assets. This Agreement between the Director and the Company modifies the terms of the Director's participation in the Plan, replaces all benefits which otherwise were payable under the Plan, and supercedes all previous Agreements under this Plan.
