No Future Compensation. Other than the obligations of the Bank as set forth under the terms of Sections 2(a) and 2(b) of this Agreement, you represent and agree that (i) you are not entitled to any other wages, salary, bonuses, incentive compensation, benefits or any other compensation or reimbursements from the Bank or the Company, except for any of your vested benefits under (A) the Bogota Savings Bank 401(k) Savings Plan (B) the Bogota Savings Bank Employee Stock Ownership Plan, and (C) the Bogota Savings Bank Supplemental Executive Retirement Plan, amended and restated dated as of January 1, 2016 (the “SERP”), (ii) for purposes of clarity, nothing paid under this Agreement will be deemed to be in lieu of any compensation to which you are entitled to under the Bogota Savings Bank 401(k) Plan, the Bogota Savings Bank Employee Stock Ownership Plan or the SERP, each of which in you are one-hundred percent (100%) vested, and (iii) all non-vested equity awards previously granted to you under the Bogota Financial Corp. 2021 Equity Incentive Plan (the “Equity Incentive Plan”) will continue to vest in accordance with the schedules set forth in the applicable award agreements for as long as you continue to serve on the Advisory Board, and as such, you shall be deemed to to be in “Service” of the Company for the purposes of vesting of equity awards and exercise of stock options in accordance with Section 2.7(f) of the Equity Incentive Plan, (iv) without limiting the provisions of clause (iii), all exercisable stock options will expire in accordance with the terms of the Equity Incentive Plan and the award agreements related to such grants, and (v) as of the Separation Date, the Employment Agreement shall terminate and become null and void with no further payments or benefits due thereunder, except for certain surviving provisions set forth in this Agreement.
No Future Compensation. Other than the obligations of the Bank as set forth under the terms of Paragraphs 2, 3, 4, 9, and 10 of this Agreement, Xxxxxxx represents and agrees that he is not entitled to any other wages, salary, bonuses, or any other compensation or reimbursements from the Bank, including, but not limited, to (a) any compensation under the Bank’s Executive Incentive Plan and Long-Term Incentive Plan; (b) the Employment Agreement; (c) the Supplemental Executive Retirement Plan entered into by Xxxxxxx and the Bank effective as of July 1, 2016 and restated effective as of January 1, 2019 (“SERP”); and (d) disability insurance, 401(k) employer contribution, Company car and other Company-owned equipment, dues, etc., or any other compensation or benefits. All non‑vested equity awards will be and are hereby forfeited.
No Future Compensation. Other than the obligations of the Company as set forth under the terms of Paragraphs 2 and 3 of this Agreement, you represent and agree that (a) you are not entitled to any other wages, salary, bonuses, benefits or any other compensation or reimbursements from the Employers, except for any of your vested benefits under the Berkshire Bank 401(k) Plan and the consulting agreement entered into between the Bank and yourself dated as of October 29, 2021 (the “Consulting Agreement”), (b) for purposes of clarity, nothing paid under this Agreement will be deemed to be in lieu of any compensation to which you are entitled to under the Berkshire Bank 401(k) Plan, of which you are one-hundred percent (100%) vested or the Consulting Agreement, and (c) all non-vested equity awards will be forfeited, including, but not limited to, all restricted stock awards subject to performance-based vesting notwithstanding the terms and conditions of any underlying award agreement.
No Future Compensation. By entering into this Transition Agreement, Executive acknowledges that (i) he waives any claim to reinstatement and/or future employment with the Company, (ii) to the extent he may seek or apply for future employment with the Company, any failure by the Company to hire or rehire Executive shall not constitute retaliation, and (iii) Executive is not and shall not be entitled to any payments, compensation, benefits, or other obligations from the Company and/or Company Released Parties of any nature whatsoever (except as expressly set forth herein).
No Future Compensation. Other than the obligations of the Company as set forth under the terms of Paragraphs 2 and 3 of this Agreement, you represent and agree that (a) you are not entitled to any other wages, salary, bonuses, or any other compensation or reimbursements from the Employers, including, but not limited, to any compensation under the Employers’ Executive Incentive Plan and Long-Term Incentive Plan, (b) the Amended and Restated Employment Agreement between the parties dated October 1st, 2008 (“Employment Agreement”), the Supplemental Executive Retirement Plan adopted by the Board of Directors of the Bank on December 14, 2006, as amended by subsequent addendum regarding disability claims made effective as of September 1, 2018 (“SERP”), (c) disability insurance, 401(k) employer contribution, Company car, dues, etc., or any other compensation or benefits except to the extent set forth in Paragraph 3, and (d) all non-vested equity awards will be forfeited.
No Future Compensation. Other than the obligations of the Company as set forth under the terms of Paragraphs 2 and 3 of this Agreement, you represent and agree that (a) you are not entitled to any other wages, salary, bonuses, benefits or any other compensation or reimbursements from the Employers, except for any of your vested benefits under the Berkshire Bank 401(k) Plan, the terms of your long-term insurance policy and the consulting agreement entered into between the Bank and yourself dated as of March 15, 2019 (the “Consulting Agreement”), (b) for purposes of clarity, nothing paid under this Agreement will be deemed to be in lieu of any compensation to which you are entitled to under the Berkshire Bank 401(k) Plan or your long-term care insurance benefit, each of which you are one-hundred percent (100%) vested or the Consulting Agreement, and (c) all non-vested equity awards will be forfeited, including, but not limited to, all restricted stock awards subject to performance-based vesting notwithstanding the terms and conditions of any underlying award agreement.
No Future Compensation. Other than the obligations of the Company as set forth under the terms of Paragraphs 2 and 3 of this Agreement, you represent and agree that (a) you are not entitled to any other wages, salary, bonuses, benefits or any other compensation or reimbursements from the Company, including, but not limited, to unused vacation time and any compensation under the Company’s Executive Incentive Plan and Long-Term Incentive Plan, and (b) all non-vested equity awards will be forfeited.
No Future Compensation. By entering into this Agreement, Executive acknowledges that (i) he waives any claim to reinstatement and/or future employment with the Company, (ii) to the extent he may seek or apply for future employment with the Company, any failure by the Company to hire or rehire Executive shall not constitute retaliation, and (iii) Executive is not and shall not be entitled to any payments, compensation, benefits, or other obligations from the Company and/or Company Released Parties of any nature whatsoever (except as expressly set forth herein). SCHOOL SPECIALTY, INC. By: /s/ Xxxxx Xxxxxxxxx Name: Xxxxx Xxxxxxxxx Title: Interim CEO 8/19/2013 Date: /s/ Xxxxx X. Xxxxxx Xxxxx Xxxxx X. Xxxxxx Xxxxx Date: 8/19/13 EXHIBIT A EXECUTIVE GENERAL RELEASE
