Base Salary and Supplemental Benefits. As compensation for the services hereunder, the Bank will pay to Executive, in installments and on dates in accordance with its normal payroll, during the period of his employment hereunder, a salary at the aggregate rate of [________________] ($_________) per year ("Base Pay"). In addition the Executive will be eligible to participate in all other health and welfare benefit plans, incentive compensation and bonus programs of the Bank as are provided to other senior vice presidents of the Bank in accordance with the terms of such plans. Executive shall be provided with four (4) weeks paid vacation annually.
Base Salary and Supplemental Benefits. Except as otherwise provided herein, as compensation for these services hereunder, the Corporation will pay to Employee, in installments and on dates in accordance with its normal payroll, during the period of his employment hereunder, a base salary at the aggregate rate of One Hundred Eighty-Two Thousand Dollars ($182,000) per year, subject to the right of the parties, by mutual agreement, to adjust such rate in respect of any future calendar year or years after the date hereof, (hereinafter referred to as “Base Pay”). In addition the Corporation shall provide the following benefits (“Supplemental Benefits”) during the Employment Term and while Employee is in the active employment with the Corporation. Termination of employment of Employee at or prior to the end of the Employment Term as provided in paragraph 4 hereof, shall cause the immediate termination of these Supplemental Benefits.
Base Salary and Supplemental Benefits. Except as otherwise provided herein, as compensation for these services hereunder, the Corporation will pay to Employee, in installments and on dates in accordance with its normal payroll, during the period of his employment hereunder, a base salary at the aggregate rate of One Hundred Sixty-Two Thousand Dollars ($162,000) per year, subject to the right of the parties, by mutual agreement, to adjust such rate in respect of any future calendar year or years after the date hereof, (hereinafter referred to as “Base Pay”). It is the intent of the parties that the base salary set forth herein will be reviewed for the year 2006 after the Compensation Committee of the Corporation has conducted its annual review of Employee for the year ended December 31, 2005. In addition the Corporation shall provide the following benefits (“Supplemental Benefits”) during the Employment Term and while Employee is in the active employment with the Corporation. Termination of employment of Employee at or prior to the end of the Employment Term as provided in paragraph 4 hereof, shall cause the immediate termination of these Supplemental Benefits.
