Employment Period Compensation. In consideration of the other provisions of this Agreement, and the Executive’s agreement to execute a Release Agreement, substantially in the form attached hereto as Exhibit B, in the event of his termination under relevant circumstances pursuant to which he would be paid severance benefits, ESC shall provide the Executive with the following payments and benefits, both those set forth in this section and elsewhere in this Agreement:
Employment Period Compensation. The Officer shall be entitled to all benefits offered by the Bank to executives holding comparable positions to those of the Officer, including, but not limited to, the following:
Employment Period Compensation. During the Employment Period, Executive shall be entitled to the following compensation and benefits:
Employment Period Compensation. For all obligations and services to be rendered by the Employee hereunder, the Company shall pay to the Employee an annual salary during the Employment Period of $154,800 payable in bi-weekly installments). The Board of Directors may, at its option, increase Employee's salary or pay him bonuses as it deems appropriate in light of the performance of the Employee, the Division and the Company and the Company's practices in respect of its other officers. All payments shall be subject to all applicable taxes required to be withheld by the Company pursuant to federal, state or local law. The Company shall provide Employee with five weeks of vacation annually, medical insurance under a medical insurance plan maintained by the Company which provides coverage and benefits comparable to those provided to Employee under the plan maintained by the Company on the date hereof and the other fringe benefits, perquisites and benefits of employment provided to salaried officer-level executives of the Company serving in a capacity similar to Employee from time to time during the Employment Period; provided, that the Company shall not be required to provide Employee with a vehicle at Company expense.
Employment Period Compensation. (a) From the date of this Agreement through April 30, 2020, Executive shall be entitled to the following compensation and benefits:
Employment Period Compensation. Executive’s employment with Xxxxxxxx shall terminate on the Separation Date, and Executive hereby resigns from all positions Executive holds with Xxxxxxxx and its affiliates effective as of the Separation Date other than his continuing role as a member of Xxxxxxxx’x Board of Directors.
Employment Period Compensation. The Executive shall be entitled to all benefits offered by SBI to executives holding comparable positions to those of the Executive, including, but not limited to, the following:
Employment Period Compensation. (a) For services rendered by the Executive hereunder, the Employer shall pay him a base salary (the "Salary") during the employment period at ------ the rate of $350,000 per contract year. The Salary shall be payable in twelve equal installments at the end of a month. The Employer shall review the Salary annually and, may increase the Salary. The Employer shall consider increases in the cost of living as well as performance for the basis of determining increases. Employer shall pay the first yearly Salary in the amount of US$350.000,00 immediately upon signature of this Agreement and without any deduction to Executive. This Agreement is conditioned upon that payment. This payment shall serve as security for the paragraph below. If Executive starts employmentship he immediately shall pay to Employees the amount which equals the base to be paid for a one year base salary by Employees on behalf of Executive from the amount of $350.000,00. In case the employment -- for whatever reason -- does not start according to Paragraph 2 sentence 1, the first payment of US$ 350.000,00 shall be deemed to be a compensation for the "loss of employment", which compensation is not repayable to and may not be reclaimed by Employer for whatever reason, with one exception: If the non-start of employment is caused by Executive's willful gross misconduct Executive shall repay the amount of US$ 350.000,00. The aforementioned compensation payment does not prevent Executive from claiming further damages suffered. If Executive terminates the Agreement during the fist six months of employment, repayment of the remaining payment of US$ 450.000,00 shall be made by Executive, otherwise not.
Employment Period Compensation. Execution Copy --------------
Employment Period Compensation
