Payments to the Executive Clause Samples

Payments to the Executive. The Employer shall pay the reasonable attorneys' fees and disbursements incurred by the Executive in connection with the preparation and negotiation of this Agreement. If litigation shall be instituted to enforce or interpret any provision hereof and the Executive shall prevail, the Employer will reimburse the Executive for his reasonable attorneys' fees and disbursements incurred in such proceeding and will pay prejudgment interest at the legal rate then in effect on any money judgment or award obtained by the Executive in such proceeding.

Payments to the Executive. (a) Company has delivered to Trustee a payment schedule attached hereto as Schedule A (the “Payment Schedule”), which Payment Schedule may be amended from time to time as provided in Section 12, indicating the amounts payable to the Executive, a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the SERP), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Executive in accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal and state taxes that may be required to be withheld with respect to the payment of benefits pursuant to the SERP and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company. Payment will be made to the Executive’s beneficiary as set forth in the Payment Schedule respecting payments upon death, if the Executive dies before payment is due under the Payment Schedule. (b) The entitlement of the Executive to benefits under the SERP shall be determined by Company or such party as it shall designate under the SERP, and any claim for such benefits shall be considered and reviewed under the procedures, if any, set out in the SERP. (c) Company may make payment of benefits directly to the Executive as they become due under the terms of the SERP. Company shall notify Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to the Executive. In addition, if the principal of the Trust, and any earnings thereon, are not sufficient to make payments of benefits in accordance with the terms of the SERP, Company shall make the remainder of each such payment as it falls due. Trustee shall notify Company if principal and earnings are not sufficient.

Payments to the Executive. 4.1 In satisfaction of the bonus earned by the Executive for his service to the Company during the year ended December 31, 2008, effective as of the date hereof, the Company has issued to the Executive a stock option grant to acquire 68,182 shares of the Company’s common stock at an exercise price of $0.66 per share. Such stock option grant shall be fully vested as of the date hereof and shall be exercisable until March 31, 2019, the tenth anniversary of the date hereof. Such grant shall be granted under, and be subject to, the terms of the Company’s Amended and Restated 2005 Incentive Plan, as amended. 4.2 Provided that the Executive elects COBRA within the time period required by law, the Company shall reimburse his payment of his COBRA premiums through (i) December 31, 2009 or (ii) until the Executive is eligible to participate in the health insurance plan of another employer, whichever is sooner.

Payments to the Executive. In connection with the terminations provided in Section 1 and in Section 2, Kentucky First or Bank shall pay the following amounts to the Executive, immediately prior to the Effective Time, provided that Executive's employment with Kentucky First and Bank has not terminated before that time other than pursuant to Section 1 hereof:

Payments to the Executive. (a) In connection with the terminations provided in Section 1, Fincorp shall pay to the Executive, immediately prior to the Effective Time, a cash amount equal to the sum of (i) the Executive's accrued but unpaid annual base salary to the Effective Time and (ii) an amount in compensation for Executive's accrued but unused vacation time to the extent permitted under the Employers' vacation policies in effect as of the date hereof. The calculation and payment of such amounts shall be subject to the reasonable review and approval of Abington. (b) In consideration of the agreements of the Executive pursuant to Section 1, Abington agrees to pay to the Executive, or to cause the Bank to pay to the Executive, at the Effective Time, a cash amount equal to $349,300.

Payments to the Executive. Any payments to the Executive, her estate or designated beneficiary pursuant to the terms of this Agreement shall be reduced by such amounts as are required to be withheld under all present and future federal, state, and local tax and other laws and regulations, and any amount then due and owing to the Company from the Executive.

Payments to the Executive. In lieu of any amounts required to be ------------------------- paid to the Executive under Section 4 or 5 of the Employment Agreement, the Company shall make the following payments to the Executive: (a) Until March 31, 2001 if the Executive's employment is terminated by the Company pursuant to Section 1(a) hereof or until the Termination Date if the Executive's employment is terminated by the Executive under Section 1(b) hereof, the Company shall continue to pay to the Executive his base salary at the same rate and in the same manner as such base salary is paid to the Executive as of the date of this Agreement; (b) On January 2, 2001, the Company shall pay to the Executive a lump sum amount equal to $250,000; (c) On April 30, 2001, the Company shall pay to the Executive a lump sum amount equal to $250,000; and (d) If the Executive's employment has not been terminated by the Executive or the Company on or prior to February 28, 2001, the Executive shall also be entitled to a pro rata bonus for 2001 (based on the number of days in 2001 he is employed by the Company divided by 365); any such bonus shall be determined in accordance with Appendix B to the Employment Agreement and shall be paid at the same time bonuses in respect of 2001 performance are paid to the Company's executives. Until the earlier of (i) December 31, 2001 and (ii) the date on which the Executive commences full-time employment by another entity, the Company shall continue to provide coverage to the Executive and his dependents under the Company's health, medical, dental and life insurance plans on the same basis as provided on the date hereof. Except as expressly provided in this Section 3 and except for expense reimbursements under Section 6 of the Employment Agreement, neither the Company nor any of its subsidiaries shall be obligated to make any payment (including, without limitation, any bonus payments) to the Executive in connection with his employment. Any amounts not paid within 10 days after their due date shall bear interest at an annual rate of 12%.

Payments to the Executive. WTX shall pay the Executive the following amounts: (a) $675,000, representing 300% of his current annual salary, payable on the eighth day after the date of this Agreement; (b) The bonus the Executive is entitled to receive for services rendered during 1998 under Section 4(c) of the Employment Contract, payable when and as provided in such Section (which bonus shall be calculated without giving effect to any special charges relating to the closing of the Rubyco fine denier operations in 1998); and (c) The supplemental retirement benefit that the Executive is entitled to receive pursuant to Section 19 of the Employment Contract, in the amount of $18,567 per month, payable on the first business day of each month for 120 consecutive months, commencing with the month next following the date of this Agreement. If Executive shall die prior to the payment of all amounts payable under this clause (c), all such remaining payments shall be made to Executive's estate or his designated beneficiary.

Payments to the Executive. The Parties hereby agree that, subject to the Executive’s execution of this Agreement containing a release from liability and waiver of right to ▇▇▇ the Company and/or its Affiliates, the Company agrees to make the payments and continue the benefits provided for in Sections 6.3(a)(2) and 6.3(b) – (e) of the Termination Agreement, as further modified and specified in Exhibit A attached hereto, subject to such payroll and withholding deductions as may be required by law. Notwithstanding any of the above to the contrary, if there is a Change of Control (as that term is defined under the Company’s Amended and Restated 1999 Stock Incentive Plan and 2007 Incentive Plan, as amended (each, a “Plan”)) during the twelve month period following the Date of Termination, the Executive’s outstanding and unvested stock options and/or restricted stock shall accelerate in accordance with the terms of the applicable Plan. Further, the Executive will not be entitled to any of the benefits or payments provided in Sections 6.3(a)(2) and 6.3(c) — (e) of the Termination Agreement if the Executive breaches this Agreement or the provisions of Sections 8, 9, 10, or 12 of the Termination Agreement.