CORTLAND BANCORP Sample Clauses

CORTLAND BANCORP. By: ------------------------------------- ------------------------------------ Its: ------------------------------------- ----------------------------------- WITNESSES: THE CORTLAND SAVINGS & BANKING COMPANY By: ------------------------------------- ------------------------------------ Its: Chairman of the Board of ------------------------------------- Directors/CEO WITNESSES:
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CORTLAND BANCORP. By: Xxxxx X. Xxxxxxx III ------------------------------------ Title: --------------------------------- BENEFICIARY DESIGNATION CORTLAND BANCORP. DIRECTOR RETIREMENT AGREEMENT XXXXX X. XXXXXXX III I designate the following as beneficiary of any death benefits under this Director Retirement Agreement: Primary: _______________________________________________________________________ ________________________________________________________________________________ Contingent: ____________________________________________________________________ ________________________________________________________________________________ NOTE: TO NAME A TRUST AS BENEFICIARY, PLEASE PROVIDE THE NAME OF THE TRUSTEE(S) AND THE EXACT NAME AND DATE OF THE TRUST AGREEMENT. I understand that I may change these beneficiary designations by filing a new written designation with the Company, I further understand that the designations will be automatically revoked if the beneficiary predeceases me, or, if I have named my spouse as beneficiary and our marriage is subsequently dissolved. Signature: -------------------------- Date: ------------------------------- Received by the Company this ______ day of __________, 2001. By: --------------------------------- Title: ------------------------------ February __, 2004 Xx. Xxxxx X. Hoffman III Director Cortland Bancorp 000 Xxxx Xxxx Xxxxxx Xxxxxxxx, Xxxx 00000-0000 RE: LETTER AMENDMENT OF DIRECTOR RETIREMENT AGREEMENT Dear Xx. Xxxxxxx: The purpose of this letter is to memorialize in writing certain changes in your March 1, 2001 Director Retirement Agreement, which I refer to hereinafter as the "Agreement." Cortland Bancorp had been accruing for its liability under the Agreement using an 8.00% accrual rate assumption, but that assumed rate was changed to 6.75% effective on October 1, 2003, reflecting the decline in prevailing interest rates that has persisted since the Agreements were originally entered into. A similar change in the accrual rate assumption was recently made by Cortland Savings and Banking Company for its liability accruals under Salary Continuation Agreements with officers. The changed accrual rate assumption affects anticipated benefit payment amounts, both under the Agreements and under the officers' Salary Continuation Agreements. Just as the Salary Continuation Agreements' Schedules A have been updated to reflect this changed assumption, we propose to replace the Schedule A attached to your Agreement with a new Schedule A. To...
Sample 1
CORTLAND BANCORP. By: Xxxxxx X. Xxxxxxx ------------------------------------ Title: --------------------------------- BENEFICIARY DESIGNATION CORTLAND BANCORP. DIRECTOR RETIREMENT AGREEMENT
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CORTLAND BANCORP. By: ------------------------------------- ------------------------------------ Title: --------------------------------- SPLIT DOLLAR POLICY ENDORSEMENT TO THE CORTLAND BANCORP. SPLIT DOLLAR AGREEMENT Policy No. __________________________ Insured: _______________________________ Supplementing and amending the application for insurance to _______________ ("Insurer") on January 8, 2001 (the application date), the applicant requests and directs that: BENEFICIARIES
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CORTLAND BANCORP. By: ------------------------------------- ------------------------------------ Xxxxxxx X.
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CORTLAND BANCORP. By: ------------------------------------ Its: ----------------------------------- INDEMNITEE EXHIBIT 1 FORM OF UNDERTAKING THIS UNDERTAKING has been entered into by _______________ ("Indemnitee") pursuant to an Indemnification Agreement dated as of _______________________, 2005 (the "Indemnification Agreement"), by and between Cortland Bancorp, an Ohio corporation (the "Corporation"), and Indemnitee.
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Related to CORTLAND BANCORP

  • The Company This Agreement shall inure to the benefit of and be enforceable by, and may be assigned by the Company to, any purchaser of all or substantially all of the Company’s business or assets, any successor to the Company or any assignee thereof (whether direct or indirect, by purchase, merger, consolidation or otherwise). The Company will require any such purchaser, successor or assignee to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such purchase, succession or assignment had taken place.

  • Company The term “

  • Parent Nothing herein shall be construed to limit or affect any action or inaction by (i) Parent or Merger Sub in accordance with the terms of the Merger Agreement or (ii) any Affiliate, officer, director or direct or indirect equity holder of Parent or Merger Sub acting in his or her capacity as a director or officer of Parent or Merger Sub; provided, however, that this Section 1.11 shall not relieve any such Person from any liability or obligation that he, she or it may have independently of this Agreement or as a consequence of any action or inaction by such Person.

  • Employer The term “Employer” means the Company and/or any subsidiary of the Company that employed the Executive immediately prior to the Effective Date.

  • The Executive This Agreement is personal to the Executive and, without the prior express written consent of the Company, shall not be assignable by the Executive, except that the Executive’s rights to receive any compensation or benefits under this Agreement may be transferred or disposed of pursuant to testamentary disposition, intestate succession or pursuant to a domestic relations order. This Agreement shall inure to the benefit of and be enforceable by the Executive’s heirs, beneficiaries and/or legal representatives.

  • RELATED EMPLOYERS If any member of the Employer's related group (as defined in Section 1.30 of the Plan) executes a Participation Agreement to this Adoption Agreement, such member's Employees are eligible to participate in this Plan, unless excluded by reason of an exclusion classification elected under this Adoption Agreement Section 1.07. In addition: (Choose (j) or (k))

  • GRANTEE Whenever the word "Grantee" is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the estate, personal representative or beneficiary to whom this Option may be transferred by will or by the laws of descent and distribution, the word "Grantee" shall be deemed to include such person.

  • Former Employers 5.1 You represent and warrant that your employment by the Company will not conflict with and will not be constrained by any prior or current employment, consulting agreement or relationship whether oral or written. You represent and warrant that you do not possess confidential information arising out of any such employment, consulting agreement or relationship which, in your best judgment, would be utilized in connection with your employment by the Company in the absence of Section 5.2.

  • Employee Stock Unless otherwise approved by the Board of Directors, including the Lead Preferred Director, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal quarterly installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in Subsection 2.11. In addition, unless otherwise approved by the Board of Directors, including the Lead Preferred Director, the Company shall retain a “right of first refusal” on employee transfers until the IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock.

  • Former Employment You represent and warrant that your employment by the Company will not conflict with and will not be constrained by any prior employment or consulting agreement or relationship. You represent and warrant that you do not possess confidential information arising out of prior employment which, in your best judgment, would be utilized in connection with your employment by the Company, except in accordance with agreements between your former employer and the Company.

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