Common use of Possible Adjustment Clause in Contracts

Possible Adjustment. The Employer and the Employee acknowledge that, during the term of employment of the Employee pursuant to this Agreement, the Employee's compensation will be subject to an annual review and adjustment by the Board of Directors of the Employer but, in no event, will the Employee's salary, vacation, additional bonus compensation and other benefits be less than the amounts set forth in Article IV and Sections 1,4,5,6 and 7 of Article V at any time during this Agreement.

Appears in 2 contracts

Sources: Employment Agreement (Paradigm Capital Trust Ii), Employment Agreement (Paradigm Capital Trust Ii)

Possible Adjustment. The Employer and the Employee acknowledge that, during the term of employment of the Employee pursuant to this Agreement, the Employee's compensation will be subject to an annual review and adjustment by the Board of Directors of the Employer but, in no event, will the Employee's salary, vacation, additional bonus compensation and other benefits be less than the amounts set forth in Article IV and Sections 1,4,5,6 1,4,5, and 7 6 of Article V at any time during this Agreement.

Appears in 1 contract

Sources: Employment Agreement (Paradigm Bancorporation Inc)