Hardship Distribution. Upon the Company’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the 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 3 contracts
Samples: Deferred Fee Agreement (Harvard Illinois Bancorp, Inc.), Clovis Community Bank (Central Valley Community Bancorp), Deferred Fee Agreement (Central Valley Community Bancorp)
Hardship Distribution. Upon the CompanyBank’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Director 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 3 contracts
Samples: Plumas Bank (Plumas Bancorp), Plumas Bank (Plumas Bancorp), Plumas Bank (Plumas Bancorp)
Hardship Distribution. Upon the Company’s Board of Director's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the 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 2 contracts
Samples: Fee Agreement (Valley National Corp /De/), Fee Agreement (Valley National Corp /De/)
Hardship Distribution. Upon the Company’s Bank's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Director 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 2 contracts
Samples: Plumas Bank (Plumas Bancorp), Plumas Bank (Plumas Bancorp)
Hardship Distribution. Upon the CompanyBoard of Director’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Director 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 2 contracts
Samples: Director Deferred Fee Agreement (SI Financial Group, Inc.), Savings Institute (SI Financial Group, Inc.)
Hardship Distribution. Upon the Company’s Bank's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2., the Company Bank shall distribute to the Director 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 Company’s 's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.22.2.2 , the Company shall distribute to the Director all or a portion of the Deferral Account balance as determined by the the, Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Director Deferred Fee Agreement (Ohio Valley Banc Corp)
Hardship Distribution. Upon the Company’s Board of Director's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the 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. Any such distributions will be reflected as a reduction of the Deferral Account in an amount equal to the distribution.
Appears in 1 contract
Samples: Fee Agreement (Tib Financial Corp)
Hardship Distribution. Upon the Company’s Board of Director's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the 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.. 4
Appears in 1 contract
Samples: Trust Director Deferred Fee Agreement (Southern Michigan Bancorp Inc)
Hardship Distribution. Upon the Company’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Director all or a portion of the Deferral Deferred Fee Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary in the opinion of the Board of Directors to relieve the financial hardship.
Appears in 1 contract
Samples: Director Deferred Compensation Agreement (HCSB Financial Corp)
Hardship Distribution. Upon the Company’s 's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Director all or a portion of the Deferral Account balance as determined by the Company, Company 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 Company’s Bank's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Director 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
Samples: Deferred Compensation Agreement (Capital Corp of the West)
Hardship Distribution. Upon the CompanyBank’s determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Director 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 hardshiphardship as determined in by majority vote of the Board of Directors of the Bank in its good faith discretion, with the Director abstaining.
Appears in 1 contract
Samples: Directors’ Fee Deferral Agreement (Sandy Spring Bancorp Inc)
Hardship Distribution. Upon the Company’s Bank's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, . the Company Bank shall distribute to the Director 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 Company’s 's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Director all or a portion of the Deferral Account 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.. ARTICLE 5
Appears in 1 contract
Hardship Distribution. Upon the Company’s Bank's determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company Bank shall distribute to the Director 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 hardshiphardship as determined in by majority vote of the Board of Directors of the Bank in its good faith discretion, with the Director abstaining.
Appears in 1 contract
Samples: Director Fee Deferral Agreement (Sandy Spring Bancorp Inc)
Hardship Distribution. Upon the Company’s board of directors' determination (following petition by the Director) that the Director has suffered an unforeseeable financial emergency as described in Section section 2.2.2, the Company Bank shall distribute to the Director all or a portion of the Deferral Account balance as determined as appropriate by the CompanyBank, but in no event shall the distribution be greater than the Bank believes is necessary to relieve the financial hardship.
Appears in 1 contract
Samples: Deferred Fee Agreement (California Independent Bancorp)
