Common use of Deferral Election Clause in Contracts

Deferral Election. The Director hereby elects and agrees to --------- ----------------- continue to defer each month the receipt by him of $200.00 in director's fees for the sixty (60) months beginning August 1, 1993 and ending July 31, 1998. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of August 1, 1998 (the "Qualifying Date").

Deferral Election. The Director hereby elects and agrees to --------- ----------------- continue to defer each month the receipt by him of $200.00 500.00 in director's fees for the sixty (60) months beginning August June 1, 1993 1994 and ending July May 31, 19981999. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of August June 1, 1998 1999 (the "Qualifying Date").

Deferral Election. The Director hereby elects and agrees to --------- ----------------- continue to defer each month the receipt by him of $200.00 300.00 in director's fees for the sixty (60) months beginning August March 1, 1993 and ending July 31February 28, 1998. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of August March 1, 1998 (the "Qualifying Date").

Deferral Election. The Director hereby elects and agrees to --------- ----------------- continue to defer each month the receipt by him of $200.00 100.00 in director's fees for the sixty (60) months beginning August March 1, 1993 and ending July 31February 28, 1998. In exchange for such deferral, the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of August 1, 1998 (the "Qualifying Date")his 65th birthday.

Deferral Election. The Director hereby elects and agrees to --------- ----------------- continue to defer each month the receipt by him of $200.00 350.00 in director's fees for the sixty (60) months beginning August January 1, 1993 1994 and ending July December 31, 1998. In exchange for such deferralagreement to defer and subject to the condition that, except as otherwise specifically provided below, the Director remain a director of the Bank until the Qualifying Date (as defined below), the Director shall receive from the Bank the benefits hereinafter described. Except as otherwise specifically provided herein, in order to receive benefits under this Agreement, the Director must be a Director of the Bank as of August 1, 1998 (the "Qualifying Date").