Common use of Director Benefits Payments Clause in Contracts

Director Benefits Payments. The Director shall be entitled to payment of the Applicable Percentage of (i) the balance in the Benefit Account in installments, and (ii) the Index Benefit for each Plan Year payable in installments, upon the terms as specified in the Agreement until the Director's death. BENEFICIARY DESIGNATION To the Administrator of the Saratoga National Bank Director Supplemental Compensation Agreement: Pursuant to the Provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, permitting the designation of a beneficiary or beneficiaries by a participant, I hereby designate the following persons and entities as primary and secondary beneficiaries of any benefit under said Agreement payable by reason of my death: Primary Beneficiary: ______________________ ____________________ _____________________________ Name Address Relationship Secondary (Contingent) Beneficiary: ______________________ _____________________ ____________________________ Name Address Relationship THE RIGHT TO REVOKE OR CHANGE ANY BENEFICIARY DESIGNATION IS HEREBY RESERVED. ALL PRIOR DESIGNATIONS, IF ANY, OF PRIMARY BENEFICIARIES AND SECONDARY BENEFICIARIES ARE HEREBY REVOKED. The Administrator shall pay all sums payable under the Agreement by reason of my death to the Primary Beneficiary, if he or she survives me, and if no Primary Beneficiary shall survive me, then to the Secondary Beneficiary, and if no named beneficiary survives me, then the Administrator shall pay all amounts in accordance with the terms of my Director Supplemental Compensation Agreement. In the event that a named beneficiary survives me and dies prior to receiving the entire benefit payable under said Agreement, then and in that event, the remaining unpaid benefit payable according to the terms of my Director Supplemental Compensation Agreement 76 shall be payable to the personal representatives of the estate of said beneficiary who survived me but died prior to receiving the total benefit provided by my Director Supplemental Compensation Agreement. Dated: ___________, 1998 __________________________ __________________ CONSENT OF THE DIRECTOR'S SPOUSE TO THE ABOVE BENEFICIARY DESIGNATION: I, ____________, being the spouse of __________________, after being afforded the opportunity to consult with independent counsel of my choosing, do hereby acknowledge that I have read, agree and consent to the foregoing Beneficiary Designation which relates to the Director Supplemental Compensation Agreement entered into by my spouse effective as of ___________, 1998. I understand that the above Beneficiary Designation may affect certain rights which I may have in the benefits provided for under the terms of the Director Supplemental Compensation Agreement and in which I may have a marital property interest. Dated: ___________, 1998 ______________________________ _________________ 77 SCHEDULE D DISTRIBUTION ELECTION Pursuant to the provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, I hereby elect to have any distribution of the balance in my Benefit Account paid to me in installments as designated below: thirty-six (36) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. sixty (60) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred twenty (120) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred eighty (180) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. Dated: ____________, 1998 Signed: _______________________ __________________

Director Benefits Payments. The Director shall be entitled to payment of the Applicable Percentage of (i) the balance in the Benefit Account in installmentsinstallments upon the terms as specified in the Agreement, and (ii) the Index Benefit for each Plan Year payable in installments, upon the terms as specified in the Agreement installments until the Director's ’s death. SCHEDULE C BENEFICIARY DESIGNATION To the Administrator of the Saratoga National Heritage Bank of Commerce Director Supplemental Indexed Compensation Benefits Agreement: Pursuant to the Provisions of my Director Supplemental Indexed Compensation Benefits Agreement with Saratoga National BankHeritage Bank of Commerce, permitting the designation of a beneficiary or beneficiaries by a participant, I hereby designate the following persons and entities as primary and secondary beneficiaries of any benefit under said Agreement payable by reason of my death: Primary Beneficiary: _________________________ ____________________ __________ ____________________ Name Address Relationship Secondary (Contingent) Beneficiary: _________________________ _____________________ __________ ______________________ Name Address Relationship THE RIGHT TO REVOKE OR CHANGE ANY BENEFICIARY DESIGNATION IS HEREBY RESERVED. ALL PRIOR DESIGNATIONS, IF ANY, OF PRIMARY BENEFICIARIES AND SECONDARY BENEFICIARIES ARE HEREBY REVOKED. The Administrator shall pay all sums payable under the Agreement by reason of my death to the Primary Beneficiary, if he or she survives me, and if no Primary Beneficiary shall survive me, then to the Secondary Beneficiary, and if no named beneficiary survives me, then the Administrator shall pay all amounts in accordance with the terms of my Director Supplemental Indexed Compensation Benefits Agreement. In the event that a named beneficiary survives me and dies prior to receiving the entire benefit payable under said Agreement, then and in that event, the remaining unpaid benefit payable according to the terms of my Director Supplemental Indexed Compensation Benefits Agreement 76 shall be payable to the personal representatives of the estate of said beneficiary who survived me but died prior to receiving the total benefit provided by my Director Supplemental Indexed Compensation Benefits Agreement. Dated: June ___, 1997 ___________, 1998 __________________________ __________________ Xxxxx X. Xxxxxxxxx CONSENT OF THE DIRECTOR'S ’S SPOUSE TO THE ABOVE BENEFICIARY DESIGNATION: I, ____________, __ being the spouse of __________________Xxxxx X. Xxxxxxxxx, after being afforded the opportunity to consult with independent counsel of my choosing, do hereby acknowledge that I have read, agree and consent to the foregoing Beneficiary Designation which relates to the Director Supplemental Indexed Compensation Benefits Agreement entered into by my spouse effective as of ___________June 19, 19981997. I understand that the above Beneficiary Designation may affect certain rights which I may have in the benefits provided for under the terms of the Director Supplemental Indexed Compensation Benefits Agreement and in which I may have a marital property interest. Dated: ___________June 30, 1998 __1997. ____________________________ ____________________________ 77 Type/Print Name SCHEDULE D DISTRIBUTION ELECTION Pursuant to the provisions Provisions of my Director Supplemental Indexed Compensation Benefits Agreement with Saratoga National BankHeritage Bank of Commerce, I hereby elect to have any distribution of the balance in my Benefit Account paid to me in installments as designated below: ______ thirty-six (36) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. ______ sixty (60) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. ______ one hundred twenty (120) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. ______ one hundred eighty (180) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. Dated: _______June _____, 1998 1997 Signed: :_______________________ __________________

Director Benefits Payments. The Director shall be entitled to payment of the Applicable Percentage of (iof(i) the balance in the Benefit Account in installments, and (ii) the Index Benefit for each Plan Year payable in installments, upon the terms as specified in the Agreement until the Director's death. death SCHEDULE C BENEFICIARY DESIGNATION To the Administrator of the Saratoga National Bank Director Supplemental Compensation Agreement: Pursuant to the Provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, permitting the designation of a beneficiary or beneficiaries by a participant, I hereby designate the following persons and entities as primary and secondary beneficiaries of any benefit under said Agreement payable by reason of my death: Primary Beneficiary: ______________________ ____________________ _____________________________ Name Address Relationship Secondary (Contingent) Beneficiary: ______________________ _____________________ _____________________________ Name Address Relationship THE RIGHT TO REVOKE OR CHANGE ANY BENEFICIARY DESIGNATION IS HEREBY RESERVED. ALL PRIOR DESIGNATIONS, IF ANY, OF PRIMARY BENEFICIARIES AND SECONDARY BENEFICIARIES ARE HEREBY REVOKED. The Administrator shall pay all sums payable under the Agreement by reason of my death to the Primary Beneficiary, if he or she survives me, and if no Primary Beneficiary shall survive me, then to the Secondary Beneficiary, and if no named beneficiary survives me, then the Administrator shall pay all amounts in accordance with the terms of my Director Supplemental Compensation Agreement. In the event that a named beneficiary survives me and dies prior to receiving the entire benefit payable under said Agreement, then and in that event, the remaining unpaid benefit payable according to the terms of my Director Supplemental Compensation Agreement 76 shall be payable to the personal representatives of the estate of said beneficiary who survived me but died prior to receiving the total benefit provided by my Director Supplemental Compensation Agreement. Dated: ___________, 1998 __________________________ __________________ CONSENT OF THE DIRECTOR'S SPOUSE TO THE ABOVE BENEFICIARY DESIGNATION: I, ____________, being the spouse of __________________, after being afforded the opportunity to consult with independent counsel of my choosing, do hereby acknowledge that I have read, agree and consent to the foregoing Beneficiary Designation which relates to the Director Supplemental Compensation Agreement entered into by my spouse effective as of ___________, 1998. I understand that the above Beneficiary Designation may affect certain rights which I may have in the benefits provided for under the terms of the Director Supplemental Compensation Agreement and in which I may have a marital property interest. Dated: ___________, 1998 ______________________________ _________________ 77 SCHEDULE D DISTRIBUTION ELECTION Pursuant to the provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, I hereby elect to have any distribution of the balance in my Benefit Account paid to me in installments as designated below: thirty-six (36) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. sixty (60) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred twenty (120) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred eighty (180) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. Dated: ____________, 1998 Signed: :_______________________ __________________

Director Benefits Payments. The Director shall be entitled to payment of the Applicable Percentage of (i) the balance in the Benefit Account in installmentsinstallments upon the terms as specified in the Agreement, and (ii) the Index Benefit for each Plan Year payable in installments, upon the terms as specified in the Agreement installments until the Director's death. BENEFICIARY DESIGNATION To the Administrator of the Saratoga National Bank Director Supplemental Compensation Agreement: Pursuant to the Provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, permitting the designation of a beneficiary or beneficiaries by a participant, I hereby designate the following persons and entities as primary and secondary beneficiaries of any benefit under said Agreement payable by reason of my death: Primary Beneficiary: ______________________ ____________________ _____________________________ Name Address Relationship Secondary (Contingent) Beneficiary: ______________________ _____________________ ____________________________ Name Address Relationship THE RIGHT TO REVOKE OR CHANGE ANY BENEFICIARY DESIGNATION IS HEREBY RESERVED. ALL PRIOR DESIGNATIONS, IF ANY, OF PRIMARY BENEFICIARIES AND SECONDARY BENEFICIARIES ARE HEREBY REVOKED. The Administrator shall pay all sums payable under the Agreement by reason of my death to the Primary Beneficiary, if he or she survives me, and if no Primary Beneficiary shall survive me, then to the Secondary Beneficiary, and if no named beneficiary survives me, then the Administrator shall pay all amounts in accordance with the terms of my Director Supplemental Compensation Agreement. In the event that a named beneficiary survives me and dies prior to receiving the entire benefit payable under said Agreement, then and in that event, the remaining unpaid benefit payable according to the terms of my Director Supplemental Compensation Agreement 76 shall be payable to the personal representatives of the estate of said beneficiary who survived me but died prior to receiving the total benefit provided by my Director Supplemental Compensation Agreement. Dated: ___________, 1998 __________________________ __________________ CONSENT OF THE DIRECTOR'S SPOUSE TO THE ABOVE BENEFICIARY DESIGNATION: I, ______________, being the spouse of __________________, after being afforded the opportunity to consult with independent counsel of my choosing, do hereby acknowledge that I have read, agree and consent to the foregoing Beneficiary Designation which relates to the Director Supplemental Compensation Agreement entered into by my spouse effective as of ___________, 1998. I understand that the above Beneficiary Designation may affect certain rights which I may have in the benefits provided for under the terms of the Director Supplemental Compensation Agreement and in which I may have a marital property interest. Dated: ___________, 1998 ______________________________ __________________ 77 SCHEDULE D DISTRIBUTION ELECTION Pursuant to the provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, I hereby elect to have any distribution of the balance in my Benefit Account paid to me in installments as designated below: thirty-six (36) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. sixty (60) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred twenty (120) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred eighty (180) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. Dated: ____________, 1998 Signed: _______________________ __________________

Director Benefits Payments. The Director shall be entitled to payment of the Applicable Percentage of (i) the balance in the Benefit Account in installmentsinstallments upon the terms as specified in the Agreement, and (ii) the Index Benefit for each Plan Year payable in installments, upon the terms as specified in the Agreement installments until the Director's death. SCHEDULE C BENEFICIARY DESIGNATION To the Administrator of the Saratoga National Bank Director Supplemental Compensation Agreement: Pursuant to the Provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, permitting the designation of a beneficiary or beneficiaries by a participant, I hereby designate the following persons and entities as primary and secondary beneficiaries of any benefit under said Agreement payable by reason of my death: Primary Beneficiary: ______________________ ____________________ _____________________________ Name Address Relationship Secondary (Contingent) Beneficiary: ______________________ _____________________ ____________________________ Name Address Relationship THE RIGHT TO REVOKE OR CHANGE ANY BENEFICIARY DESIGNATION IS HEREBY RESERVED. ALL PRIOR DESIGNATIONS, IF ANY, OF PRIMARY BENEFICIARIES AND SECONDARY BENEFICIARIES ARE HEREBY REVOKED. The Administrator shall pay all sums payable under the Agreement by reason of my death to the Primary Beneficiary, if he or she survives me, and if no not Primary Beneficiary shall survive me, then to the Secondary Beneficiary, and if no named beneficiary survives me, then the Administrator shall pay all amounts in accordance with the terms of my Director Supplemental Compensation Agreement. In the event that a named beneficiary survives me and dies prior to receiving the entire benefit payable under said Agreement, then and in that event, the remaining unpaid benefit payable according to the terms of my Director Supplemental Compensation Agreement 76 shall be payable to the personal representatives of the estate of said beneficiary who survived me but died prior to receiving the total benefit provided by my Director Supplemental Compensation Agreement. Dated: ___________, 1998 __________________________ __________________ CONSENT OF THE DIRECTOR'S SPOUSE TO THE ABOVE BENEFICIARY DESIGNATION: I, ______________, being the spouse of __________________, after being afforded the opportunity to consult with independent counsel of my choosing, do hereby acknowledge that I have read, agree and consent to the foregoing Beneficiary Designation which relates to the Director Supplemental Compensation Agreement entered into by my spouse effective as of ___________, 1998. I understand that the above Beneficiary Designation may affect certain rights which I may have in the benefits provided for under the terms of the Director Supplemental Compensation Agreement and in which I may have a marital property interest. Dated: ___________, 1998 ______________________________ __________________ 77 SCHEDULE D DISTRIBUTION ELECTION Pursuant to the provisions of my Director Supplemental Compensation Agreement with Saratoga National Bank, I hereby elect to have any distribution of the balance in my Benefit Account paid to me in installments as designated below: thirty-six (36) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. sixty (60) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred twenty (120) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. one hundred eighty (180) monthly installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account. Dated: ____________, 1998 Signed: _______________________ __________________