Fringe Benefit. The benefits provided by this Agreement are granted by the Bank as a fringe benefit to the Director and are not a part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Director has no option to take any current payments or bonus in lieu of the benefits provided by this Agreement.
Appears in 34 contracts
Sources: Director Retirement Agreement (Santa Lucia Bancorp), Director Supplemental Compensation Agreement (Greater Bay Bancorp), Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp)