Hardship Distribution. Upon the Company'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 4 contracts
Samples: Executive Deferred Compensation Agreement (Mid Penn Bancorp Inc), Compensation Agreement (Southern Michigan Bancorp Inc), Compensation Agreement (Lawrence Financial Holdings Inc)
Hardship Distribution. Upon the CompanyBoard of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section Subsection 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 4 contracts
Samples: Deferred Compensation Agreement (Team Financial Inc /Ks), Deferred Compensation Agreement (Team Financial Inc /Ks), Deferred Compensation Agreement (Team Financial Inc /Ks)
