Common use of Initial Election Clause in Contracts

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 12 contracts

Sources: Director Deferred Fee Agreement (Luxemburg Bancshares Inc), Director Deferred Fee Agreement (Community Financial Corp /Va/), Director Deferred Fee Agreement (Premier Commercial Bancorp)

Initial Election. The Director Executive shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees Compensation to be deferred and shall be effective to defer only Fees Compensation earned after the date the Election Form is received by the Company.

Appears in 10 contracts

Sources: Deferred Compensation Agreement (Southern Michigan Bancorp Inc), Executive Deferred Compensation Agreement (North Valley Bancorp), Executive Deferred Compensation Agreement (QCR Holdings Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 thirty (30) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 9 contracts

Sources: Director Deferred Fee Agreement (Tib Financial Corp.), Director Deferred Fee Agreement (First Community Financial Corp), Director Deferred Fee Agreement (First Community Financial Corp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form Forms A, B and C within 30 thirty (30) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and Forms shall be effective to defer only Fees earned after the date the Election Form is Forms are received by the Company.

Appears in 7 contracts

Sources: Director Deferred Fee Agreement (Penns Woods Bancorp Inc), Director Deferred Fee Agreement (Penns Woods Bancorp Inc), Director Deferred Fee Agreement (Penns Woods Bancorp Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees Compensation to be deferred and shall designate when distributions shall commence and the form of distribution to be effective received. If the Director fails to file a properly completed and executed Election Form with the Plan Administrator by the prescribed time, the Director will be deemed to have elected not to defer only Fees earned after any compensation for the date the Election Form is received by the Companyapplicable Plan Year.

Appears in 6 contracts

Sources: Director Elective Income Deferral Agreement (Bank of Wilmington CORP), Director Elective Income Deferral Agreement (Bank of Wilmington CORP), Director Elective Income Deferral Agreement (Bank of Wilmington CORP)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 15 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 5 contracts

Sources: Deferred Fee Agreement (Plumas Bancorp), Deferred Fee Agreement (Plumas Bancorp), Deferred Fee Agreement (Plumas Bancorp)

Initial Election. The Director shall make an initial deferral election under this Agreement in the amount of $1,500 annually by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 4 contracts

Sources: Director Deferred Fee Agreement (Madison County Financial, Inc.), Director Deferred Fee Agreement (Madison County Financial, Inc.), Director Deferred Fee Agreement (Madison County Financial, Inc.)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company. The minimum deferral permitted by the Director under this Agreement is 25% of the Director’s Fees.

Appears in 4 contracts

Sources: Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/), Director Deferred Fee Agreement (Community Capital Corp /Sc/)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 4 contracts

Sources: Director Deferred Fee Agreement (First Georgia Community Corp), Director Deferred Fee Agreement (Acnb Corp), Director Deferred Fee Agreement (First Georgia Community Corp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 3 contracts

Sources: Deferred Fee Agreement (Harvard Illinois Bancorp, Inc.), Deferred Fee Agreement (Citizens First Bancorp Inc), Deferred Fee Agreement (Lawrence Financial Holdings Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees Compensation to be deferred and shall be effective to defer only Fees Compensation earned after the date the Election Form is received by the CompanyBank.

Appears in 2 contracts

Sources: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date adopted date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 2 contracts

Sources: Director Deferred Fee Agreement (Cooperative Bankshares Inc), Director Deferred Fee Agreement (Cooperative Bankshares Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees fees earned after the date the Election Form is received by the CompanyBank.

Appears in 2 contracts

Sources: Directors’ Fee Deferral Agreement (Sandy Spring Bancorp Inc), Director Fee Deferral Agreement (Sandy Spring Bancorp Inc)

Initial Election. The Director shall make an initial deferral election under this Amended Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date of this Amended Agreement. The Election Form shall set forth the amount of Fees Compensation to be deferred and shall be effective to defer only Fees Compensation earned after the date the Election Form is received by the CompanyBank.

Appears in 2 contracts

Sources: Director Deferred Compensation Agreement (Newmil Bancorp Inc), Director Deferred Compensation Agreement (Newmil Bancorp Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the of Election Form is received by the Company.

Appears in 2 contracts

Sources: Director Deferred Fee Agreement (First Community Bancshares Inc /In), Director Deferred Fee Agreement (First Community Bancshares Inc /In)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 fifteen (15) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 2 contracts

Sources: Deferred Fee Agreement (Central Valley Community Bancorp), Director Deferred Fee Agreement (First Northern Community Bancorp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 2 contracts

Sources: Director Deferred Fee Agreement (Southern Michigan Bancorp Inc), Director Deferred Fee Agreement (Southern Michigan Bancorp Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees Compensation to be deferred and shall be effective to defer only Fees Compensation earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Director Deferred Compensation Agreement (Premierwest Bancorp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (California Independent Bancorp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 thirty (30) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred, provided such deferral opportunity shall be limited to Fees earned during the ten-year period ending, , 20 , unless an extension is approved in writing by the Bank. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (First Perry Bancorp, Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred. The election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Valley National Corp /De/)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (SI Financial Group, Inc.)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 thirty (30) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred, provided such deferral opportunity shall be limited to Fees earned during the ten-year period ending December 31, 2018 unless an extension is approved in writing by the Bank. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Riverview Financial Corp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 fifteen (15) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred deferred, the Normal Termination Date and shall be effective to defer only Fees earned after the date mode of distribution of the Election Form is received by the CompanyDeferral Account.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (National Penn Bancshares Inc)

Initial Election. The In addition to the Incentive Award Deferral under Article 2, the Director shall may make an initial deferral election under this Agreement by filing with the Company a signed Director Deferral Election Form within 30 days after the Effective Date of date this AgreementAgreement is first executed. The Election Form election form shall set forth the amount of Fees to be deferred Director Deferrals and shall be effective to defer only Fees earned after the date the Election Form election form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Incentive Agreement (Home Federal Bancorp Inc)

Initial Election. The Director shall make an initial a deferral election under this Agreement agreement by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreementrestatement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Deferred Fee Agreement (Lafayette Bancorporation)

Initial Election. The Director shall make an initial deferral election under this Agreement in the amount of $2,500 annually by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Madison County Financial, Inc.)

Initial Election. The Director shall make an all initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Iowa First Bancshares Corp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Deferred Fee Agreement (First Shares Bancorp Inc)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date Director becomes eligible to participate in the Plan, for the first Plan Year of this Agreementeligibility, or thereafter, prior to the beginning of the Plan Year for which Compensation is to be deferred . The Election Form shall set forth the amount of Fees Compensation to be deferred and shall be effective to defer only Fees Compensation earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Outside Director Nonqualified Deferred Compensation Agreement (Lithia Motors Inc)

Initial Election. The Director shall make an as initial deferral election under this Agreement by filing with the Company Bank a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the CompanyBank.

Appears in 1 contract

Sources: Deferred Compensation Agreement (Capital Corp of the West)

Initial Election. The Director shall make an initial deferral Deferral election under this Agreement by filing with the Company a signed Election Form within 30 thirty (30) days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred. The Election Form shall be effective to defer only Fees earned after the date the, Election-Form is received- by-the- Company. In addition, the Director shall make an election on the Election Form is received by to have his or her Deferral Account paid in the Companyform of a lump sum distribution, or in the-form of ten (10) substantially equal annual installments.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Fairfield County Bank Corp.)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and deferred. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Standard Office Lease (Orange National Bancorp)

Initial Election. The In addition to the Incentive Award Deferral under Article 2, the Director shall may make an initial deferral election under this Agreement by filing with the Company Plan Administrator a signed Election Form within 30 thirty (30) days after the Effective Date of date this AgreementAgreement is first executed. The Election Form shall set forth the amount of Fees to be deferred Director Deferrals and shall be effective to defer only Fees earned after the date the Election Form election form is received by the CompanyPlan Administrator.

Appears in 1 contract

Sources: Director Deferred Incentive Agreement (Home Federal Bancorp Inc)

Initial Election. The Director shall make made an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 fifteen (15) days after the Effective Date of this AgreementNovember 1, 1993. The Election Form shall set forth the amount of Fees to be deferred and shall be the form of benefit payment. The Election Form was effective to defer only Fees earned after the date the Election Form is received by the Company. Such Initial Election (or any subsequent election under Section 2.2 that is in effect) shall continue in effect with this Agreement.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Central Valley Community Bancorp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreementagreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Compensation Agreement (HCSB Financial Corp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 fifteen (15) days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company. The Director may defer Fees for up to sixty (60) months following the date of this Agreement.

Appears in 1 contract

Sources: Deferred Fee Agreement (Appalachian Bancshares Inc)

Initial Election. The Director shall make an initial deferral election to defer all or a portion of his Fees under this Agreement by filing with the Company Bank a signed Deferral Election Form within 30 thirty (30) days after the Effective Date date of this Agreement. The Deferral Election Form shall set forth the amount of Fees to be deferred prospectively and shall be effective to defer only Fees earned after the date the Election Form form is received by the CompanyBank.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Central Valley Community Bancorp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date date of this Agreement. The Election Form shall set forth the amount of Fees fees to be deferred and the form of benefit payment. The Election Form shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Ohio Valley Banc Corp)

Initial Election. The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after by the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Appears in 1 contract

Sources: Director Deferred Fee Agreement (Luxemburg Bancshares Inc)