Base Salary and Fringe 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 seventy-five thousand ($175,000) per annum, subject to the right of the parties, by mutual agreement, to adjust such rate upward in respect of any future period after the date hereof, (hereinafter referred to as "Base Pay"). In addition the Corporation shall:
Base Salary and Fringe Benefits. As compensation for the Employee’s services hereunder during the Employment Period, the Company shall pay the Employee a base salary of four hundred thousand ($400,000) dollars per annum, commencing July 1, 2023, and through the effective period of the contract unless amended by the Compensation Committee. Any base salary payable hereunder shall be paid in regular intervals in accordance with the Company’s payroll practices, but no less frequently than once each month. The Employee shall be entitled to participate in all fringe benefits the Company provides for its employees generally, and such other benefits as the Company provides generally for its senior executives. Such fringe benefits may include paid time off (vacation and sick days), right to unpaid FMLA time off, medical insurance coverage (health, dental and vision), and Employee Retirement Plan, as may exist from time to time. In addition, the Company shall maintain a Term Life Insurance policy for the Employee, valued at $2 Million, of which $1 Million shall be assigned to the Company and remaining to the Employee’s Estate.
Base Salary and Fringe Benefits. For all services rendered by the Executive Stockholder to the Company (and any subsidiary of the Company which may hereafter be established), the Company shall pay the Executive Stockholder a salary at the rate set by the Compensation Committee (the "Base Salary"), and payable (after deduction of applicable payroll taxes) in equal semi-monthly installments on the 1st and 16th day of each month or on the preceding business day if such day is a Saturday, Sunday or holiday. The Executive Stockholder shall also be eligible for and participate in such fringe benefits as shall be generally provided to executives of the Company, including (but not limited to) the following: medical insurance and other welfare benefit programs; incentive savings and retirement programs which may be adopted from time to time by the Company; stock option plans; and club memberships. The Executive Stockholder shall be entitled to paid vacation consistent with existing Company policy. The Company shall continue to maintain existing disability and "split-dollar" insurance agreements with respect to the Executive Stockholder on terms no less favorable to the Executive Stockholder than now existing.
Base Salary and Fringe Benefits. Except as otherwise provided herein, as compensation for these services hereunder, the Bank 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 Twenty One Thousand Dollars ($121,000) per year, subject to the right of the parties, by mutual agreement, to adjust such rate upward in respect of any future calendar year or years after the date hereof, hereinafter "Base Pay." In addition the Bank shall:
Base Salary and Fringe 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 Thirty Six Thousand Five Hundred Dollars ($136,500) per year, subject to the right of the parties, by mutual agreement, to adjust such rate upward 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 2002 after the Compensation Committee of the Corporation has conducted its annual review of Employee for the year ended December 31, 2001. In addition the Corporation shall:
Base Salary and Fringe 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 twenty-five thousand dollars ($125,000) per year, subject to the right of the parties, by mutual agreement, to adjust such rate upward on a basis no less favorable than upward adjustments provided as a class to other senior Employees of the Corporation, in respect of any future calendar year or years after the date hereof, hereinafter "Base Pay". In addition the Corporation shall:
Base Salary and Fringe Benefits. Your base salary will be $330,000 on an annualized basis, less payroll deductions and all required withholdings, payable semi-monthly. You will be entitled to twenty (20) days paid time off each year pursuant to the Company’s policies, accruing on a monthly basis. You will be eligible for the Company’s standard benefits, which will be available to you the first of the month following your date of hire. The benefits will include paid holidays, medical, dental, vision, short-term and long-term disability insurance, life insurance and a 401K plan. The Company may modify benefits from time to time, in its sole discretion.
Base Salary and Fringe Benefits
