Common use of Optional Cancellation Clause in Contracts

Optional Cancellation. May permit an Eligible Employee who experiences a Disability as defined in paragraph 2.5 to cancel is Deferred Compensation Election. If the Option is not selected, no cancellation will be required or permitted upon the occurrence of a Disability.

Appears in 2 contracts

Sources: Non Qualified Deferred Compensation Plan (American National Bankshares Inc.), Non Qualified Deferred Compensation Plan (C & F Financial Corp)

Optional Cancellation. May permit an Eligible Employee who experiences a Disability as defined in paragraph 2.5 subparagraph 3.5(b) to cancel is his Deferred Compensation Election. If the this Option is not selected, no cancellation will be required or permitted upon the occurrence of a Disability.

Appears in 1 contract

Sources: Non Qualified Deferred Compensation Plan (Atlantic Union Bankshares Corp)