Bonus and Incentive Compensation. The Executive (1) is eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the plan or arrangement; and/or (2) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee.
Appears in 6 contracts
Samples: Employment Agreement (Central Plains Bancshares, Inc.), Employment Agreement (PB Bankshares, Inc.), Employment Agreement (Texas Community Bancshares, Inc.)
Bonus and Incentive Compensation. The Executive (1i) is eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the plan or arrangement; and/or (2ii) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee.
Appears in 4 contracts
Samples: Employment Agreement (VWF Bancorp, Inc.), Employment Agreement (VWF Bancorp, Inc.), Employment Agreement (VWF Bancorp, Inc.)
Bonus and Incentive Compensation. The Executive (1) is eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the such plan or arrangement; and/or (2) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee.
Appears in 4 contracts
Samples: Employment Agreement (Bogota Financial Corp.), Employment Agreement (Bogota Financial Corp.), Employment Agreement (Pioneer Bancorp, Inc./Md)
Bonus and Incentive Compensation. The Executive (1) is shall be eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the such plan or arrangement; and/or (2) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee.
Appears in 3 contracts
Samples: Employment Agreement (Fifth District Bancorp, Inc.), Employment Agreement (Fifth District Bancorp, Inc.), Employment Agreement (Fifth District Bancorp, Inc.)
Bonus and Incentive Compensation. The Executive (1i) is eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the such plan or arrangement; and/or (2ii) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee.
Appears in 2 contracts
Samples: Employment Agreement (Bogota Financial Corp.), Employment Agreement (Bogota Financial Corp.)
Bonus and Incentive Compensation. The Executive (1) is eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the such plan or arrangement; and/or (2) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee. Specifically, Executive will be eligible to participate in the Bank’s short-term bonus program, pursuant to which Executive will be entitled to a target bonus opportunity equal to, at least, 50% of Base Salary.
Appears in 2 contracts
Samples: Employment Agreement (Marathon Bancorp, Inc. /MD/), Employment Agreement (Marathon Bancorp, Inc. /MD/)
Bonus and Incentive Compensation. The Executive (1i) is eligible to participate in any bonus plan or arrangement of the Bank in which senior management is eligible to participate, pursuant to which a bonus may be paid to the Executive in accordance with the plan or arrangement; and/or (2ii) may receive a bonus, if any, on a discretionary basis, as determined by the Board of Directors or the Compensation Committee. For calendar 2023, this discretionary bonus is $10,000. For calendar 2024 and beyond, the discretionary bonus will equal 20% based on achievement of specified goals outlined for each year.
Appears in 1 contract
