SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b). (b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect between Executive and the Bank, such compensation payments and benefits paid by the Bank will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the Bank.
Appears in 5 contracts
Sources: Employment Agreement (Citizens First Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated , 2005, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution.
Appears in 5 contracts
Sources: Employment Agreement (Legacy Bancorp, Inc.), Employment Agreement (Legacy Bancorp, Inc.), Employment Agreement (Legacy Bancorp, Inc.)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 3 contracts
Sources: Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided for in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement the Employment Agreement in effect between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution.
Appears in 3 contracts
Sources: Employment Agreement (Woronoco Bancorp Inc), Employment Agreement (Woronoco Bancorp Inc), Employment Agreement (Woronoco Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an the employment agreement in effect between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 3 contracts
Sources: Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated February 1, 2000, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 3 contracts
Sources: Employment Agreement (Pulaski Financial Corp), Employment Agreement (Pulaski Financial Corp), Employment Agreement (Pulaski Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated December 23, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 3 contracts
Sources: Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Virginia Capital Bancshares Inc), Employment Agreement (Virginia Capital Bancshares Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated __________, 199_, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 3 contracts
Sources: Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Woronoco Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement of even date herewith, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 3 contracts
Sources: Employment Agreement (Southbanc Shares Inc), Employment Agreement (Southbanc Shares Inc), Employment Agreement (Southbanc Shares Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b5(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ______________, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Change in Control Agreement (Wayne Bancorp Inc /De/), Change in Control Agreement (Wayne Bancorp Inc /De/)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated December 22, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Massachusetts Fincorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated December 31, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity services rendered and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (First Place Financial Corp /De/), Employment Agreement (First Place Financial Corp /De/)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated January 31, 1997, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Firstfed America Bancorp Inc), Employment Agreement (Firstfed America Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated_______________, 199__, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (South Jersey Financial Corp Inc), Employment Agreement (Virginia Capital Bancshares Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated February 12, 1999, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (South Jersey Financial Corp Inc), Employment Agreement (South Jersey Financial Corp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ___________, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (First Source Bancorp Inc), Employment Agreement (First Source Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ___________, 199__, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Security of Pennsylvania Financial Corp), Employment Agreement (Grand Central Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Firstfed America Bancorp Inc), Employment Agreement (Firstfed America Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated as of _________________, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Efc Bancorp Inc), Employment Agreement (Richmond Country Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b)Subsection 11(b) of this Agreement.
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated June 29, 2000, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Dutchfork Bancshares Inc), Employment Agreement (Dutchfork Bancshares Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated _____________, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (First Place Financial Corp /De/), Employment Agreement (First Place Financial Corp /De/)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated December 30, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 2 contracts
Sources: Employment Agreement (Grand Central Financial Corp), Employment Agreement (Security of Pennsylvania Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated March 19, 1999, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ________________, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b)11(b) of this Agreement.
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement of even date herewith, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ___________, 1997, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Northeast Pennsylvania Financial Corp)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated February 28, 2003, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated September 3, 1996, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated March 1, 1995, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the Bank.Institution on a quarterly basis. #27938/February 10, 1995 8
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated December 28, 2000, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Lawrence Financial Holdings Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11.(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated as of ______________, between Executive and the BankInstitution (the "Institution Agreement"), such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated July 31, 1997, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Firstfed America Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ____________________, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Lawrence Financial Holdings Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated June 30, 1998 between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ___________, 1999, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Security Financial Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated January 5, 2000, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Security Financial Bancorp Inc)
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated March 23, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated July 2, 1996, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated , ---------------- 1997, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated February 13, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Amended and Restated Employment Agreement dated , 2008, between Executive and the BankInstitution (the “Institution Agreement”), such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated_______________, 1997, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Amended and Restated Employment Agreement dated , between Executive and the BankInstitution (the “Institution Agreement”), such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b)11(b) of this Agreement.
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement the Employment Agreement in effect between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b)11(b) of this Agreement.
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated ____________, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated July 24, 1997, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated May 25, 2005, between Executive and the BankInstitution (the “Institution Agreement”), such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to this Section 12(b11(b).
(b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by Executive under an employment agreement in effect the Employment Agreement dated March 31, 1998, between Executive and the BankInstitution, such compensation payments and benefits paid by the Bank Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank agreement Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the BankInstitution on a quarterly basis.
Appears in 1 contract
Sources: Employment Agreement (Northeast Pennsylvania Financial Corp)