Term Compensation. The Bank shall pay to Executive as compensation for his services during the Term hereunder an annual salary equal to his current salary with the Bank, which annual salary shall be paid in regular installments in accordance with the Bank’s general payroll practices, including those related to withholding for taxes, insurance and similar items. In no event shall Executive’s annual salary for any year be less than his annual salary in effect for the year 2001.
Appears in 2 contracts
Sources: Employment Agreement (First Century Bankshares Inc), Employment Agreement (First Century Bankshares Inc)
Term Compensation. The Bank shall pay to Executive as ----------------- compensation for his services during the Term hereunder an annual salary equal to his current salary with the Bank, which annual salary shall be paid in regular installments in accordance with the Bank’s 's general payroll practices, including those related to withholding for taxes, insurance and similar items. In no event shall Executive’s 's annual salary for any year be less than his annual salary in effect for the year 2001.
Appears in 1 contract
Sources: Employment Agreement (First Century Bankshares Inc)