Common use of Annual Review and Adjustment Clause in Contracts

Annual Review and Adjustment. The Executive's compensation, as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of the Bank's Board of Directors or Executive Committee. In no case, however, will the Executive's salary, vacation, and expense reimbursement be less than the amounts set forth in this Section 4.

Appears in 4 contracts

Samples: Employment Agreement (Pacific Financial Corp), Employment Agreement (Pacific Financial Corp), Employment Agreement (Pacific Financial Corp)

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Annual Review and Adjustment. The Executive's compensation, compensation as set forth in this Section paragraph 4(a), will be subject to annual review and adjustment by a disinterested majority of the The Bank's Board of Directors or Executive Compensation Committee. In no case, however, will the Executive's salary, vacation, vacation and expense reimbursement be less than the amounts set forth in this Section 4paragraphs 4(a)-(e).

Appears in 3 contracts

Samples: Employment Agreement (Pacific Financial Corp), Employment Agreement (Pacific Financial Corp), Employment Agreement (Pacific Financial Corp)

Annual Review and Adjustment. The Executive's compensation, ’s compensation as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of the The Bank's ’s Board of Directors or Executive Compensation Committee. In no case, however, will the Executive's ’s salary, vacation, vacation and expense reimbursement be less than the amounts set forth in this Section section 4.

Appears in 2 contracts

Samples: Employment Agreement (Pacific Financial Corp), Employment Agreement (Pacific Financial Corp)

Annual Review and Adjustment. The Executive's compensation, as set forth in this Section 4(a)4, will be subject to annual review and adjustment by a disinterested majority of the BankCompany's Board of Directors or Executive CommitteeDirectors. In no case, however, will the Executive's salary, vacation, car allowance and expense reimbursement for director's fees be less than the amounts set forth in this Section 4.

Appears in 1 contract

Samples: Employment Agreement (Harbor Bancorp Inc)

Annual Review and Adjustment. The Executive's compensation, as set forth in this Section 4(a), compensation will be subject to annual review and adjustment by a disinterested majority of the The Bank's Board of Directors or Executive Compensation Committee. In no case, however, will the Executive's salary, vacation, vacation and expense reimbursement be less than the amounts set forth in this Section 4paragraphs 4(a)-(f).

Appears in 1 contract

Samples: Employment Agreement (Pacific Financial Corp)

Annual Review and Adjustment. The Executive's compensation, compensation as set forth in this Section paragraph 4(a), will be subject to annual review and adjustment by a disinterested majority of the The Bank's Board of Directors or Executive Compensation Committee. In no case, however, will the Executive's salary, vacation, vacation and expense reimbursement be less than the amounts set forth in this Section 4paragraphs 4(a)-(f).

Appears in 1 contract

Samples: Employment Agreement (Pacific Financial Corp)

Annual Review and Adjustment. The Executive's ’s compensation, as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of the Bank's ’s Board of Directors or Executive Committee. In no case, however, will the Executive's ’s salary, vacation, and expense reimbursement be less than the amounts set forth in this Section 4.

Appears in 1 contract

Samples: Employment Agreement (Pacific Financial Corp)

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Annual Review and Adjustment. The Executive's compensation, ’s compensation as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of the Bank's Board of Directors or Executive CommitteeCEO. In no case, however, will the Executive's ’s salary, vacation, and expense reimbursement be less than the amounts set forth in this Section section 4.

Appears in 1 contract

Samples: Employment Agreement (Pacific Financial Corp)

Annual Review and Adjustment. The Executive's compensation, as set forth in this Section 4(a)4, will be subject to annual review and adjustment by a disinterested majority of the BankCompany's Board of Directors or Executive Committee. In no case, however, will the Executive's salary, vacation, and expense reimbursement be less than the amounts set forth in this Section 4.

Appears in 1 contract

Samples: Employment Agreement (Harbor Bancorp Inc)

Annual Review and Adjustment. The Executive's compensation, ’s compensation as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of the The Bank's ’s Board of Directors or Executive Compensation Committee. In no case, however, will the Executive's ’s salary, vacation, vacation and expense reimbursement be less than the amounts set forth in this Section 4paragraphs 4(a)-(e).

Appears in 1 contract

Samples: Employment Agreement (Pacific Financial Corp)

Annual Review and Adjustment. The Executive's compensation, as set forth in this Section 4(a)4, will be subject to annual review and adjustment by a disinterested majority of the Bank's Board of Directors or Executive CommitteeDirectors. In no case, however, will the Executive's salary, vacation, car allowance and expense reimbursement for director's fees be less than the amounts set forth in this Section 4.

Appears in 1 contract

Samples: Employment Agreement (Harbor Bancorp Inc)

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