Changes in Benefits. The Parent shall not make any changes in such plans, benefits or privileges previously described in Section 3(c), (d) and (e) which would adversely affect the Executive's rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Parent and does not result in a proportionately greater adverse change in the rights of, or benefits to, the Executive as compared with any other executive officer of the Parent. Nothing paid to Executive under any plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to Executive pursuant to Section 3(a) hereof.
Appears in 4 contracts
Sources: Employment Agreement (Teche Holding Co), Employment Agreement (Farnsworth Bancorp Inc), Employment Agreement (Teche Holding Co)