Common use of While Employed Clause in Contracts

While Employed. During Executive’s employment hereunder, the Bank shall make all payments to Executive in accordance with its normal practices. The Bank shall have a right of set-off against any amounts due hereunder (which right shall include the right to retain or require Executive to surrender any shares of restricted stock) if the Bank incurs any expenses due to third parties (other than tax liabilities as an employer) as a result of Executive’s employment by the Bank or Executive’s breach of his representations and warranties contained herein.