Common use of Executive Salary Clause in Contracts

Executive Salary. Effective January 1, 2007, the Executive salary shall be $94,000 per annum, paid on the same schedule as all other Bank employees. In addition, the Employee shall, as further consideration for this Agreement, continue to be included in the bonus pool and will be eligible to participate in the proposed stock grant program as shown on Exhibit “A” when same is adopted by the board of directors.

Executive Salary. Effective January 1, 2007, the Executive The Executive’s salary shall be $94,000 185,000.00 per annum, paid on the same schedule as all other Bank employeesemployees and will be eligible for increases in base salary on an annual basis. In addition, the Employee shall, as further consideration for this Agreement, continue to be included in the bonus pool and will be eligible to participate in the proposed bank’s stock grant program as shown on Exhibit “A” when same is adopted by the board of directorsprogram.

Executive Salary. Effective January 1May 9, 20072008, the Executive salary shall be $94,000 115,000.00 per annum, paid on the same schedule as all other Bank employees. In addition, the Employee shall, as further consideration for this Agreement, continue to be included in the bonus pool and will be eligible to participate in the proposed receive a stock grant program as shown on Exhibit “A” when same is adopted by in accordance with the board of directorsStock Grant Program, with the initial scheduled grant to be 1,800 shares (in accordance with Performance Standards and the Stock Grant Program).