Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 22 contracts
Samples: Trust Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Trust Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Compensation Agreement (North Valley Bancorp)
Hardship Distribution. Upon the Board of Director's determination (following petition by the ExecutiveDirector) that the Executive Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive Director all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 16 contracts
Samples: Trust Director Deferred Fee Agreement (Southern Michigan Bancorp Inc), Fee Agreement (Community Valley Bancorp), Fee Agreement (First Community Bancshares Inc /In)
Hardship Distribution. Upon the Board of DirectorCompany's determination (following petition by the ExecutiveDirector) that the Executive Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive Director all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 14 contracts
Samples: Fee Agreement (Regency Bancorp), Fee Agreement (First Community Financial Corp), Deferred Fee Agreement (San Joaquin Bancorp)
Hardship Distribution. Upon the Board of DirectorCompany's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.23.4, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 8 contracts
Samples: Incentive Retirement Agreement (First Litchfield Financial Corp), Incentive Retirement Agreement (First Litchfield Financial Corp), Agreement (First Litchfield Financial Corp)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the ExecutiveDirector) that the Executive Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive Director all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 8 contracts
Samples: Lowcountry National Bank (Coastal Banking Co Inc), Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 6 contracts
Samples: Rapids Bank and Trust (QCR Holdings Inc), Compensation Agreement (Quad City Holdings Inc), Bank and Trust Company Executive Deferred Compensation Agreement (QCR Holdings Inc)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.22, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 6 contracts
Samples: Bonus Deferral Agreement (Columbia Bancorp \Or\), Bonus Deferral Agreement (Columbia Bancorp \Or\), Deferral Agreement (Columbia Bancorp \Or\)
Hardship Distribution. Upon the Board of DirectorCompany's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.22.3, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Deferred Incentive Agreement (Home Federal Bancorp Inc)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2Unforeseeable Emergency, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2Unforeseeable Emergency, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (Mercantile Bank Corp)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive's beneficiary) that the Executive beneficiary has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive beneficiary all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Camco Financial Corp)
Hardship Distribution. Upon the Board of Director's Directors’ determination (following petition a written request by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Executive Deferred Compensation Agreement (ISB Financial Corp.)
Hardship Distribution. Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the CompanyBank, but in no event shall the distribution be greater than is necessary to relieve the financial hardship. Upon such a distribution, the Deferral Account Balance shall be reduced accordingly, and no further deferrals shall be permitted for the remainder of that Plan Year.
Appears in 1 contract
Samples: Compensation Agreement (Texas United Bancshares Inc)
Hardship Distribution. Upon the Board of Director's ’s determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial finanncia1 hardship.
Appears in 1 contract
