Payments to the Executive. In connection with the terminations provided in Section 1 and in Section 2, Bancorp or Bank shall pay the following amounts to the Executive, immediately prior to the Effective Time:
Payments to the Executive. In connection with the terminations provided in Section 1 and in Section 2, Kentucky First or Bank shall pay the following amounts to the Executive, immediately prior to the Effective Time, provided that Executive's employment with Kentucky First and Bank has not terminated before that time other than pursuant to Section 1 hereof:
Payments to the Executive. (a) In connection with the terminations provided in Section 1, Fincorp shall pay to the Executive, immediately prior to the Effective Time, a cash amount equal to the sum of (i) the Executive's accrued but unpaid annual base salary to the Effective Time and (ii) an amount in compensation for Executive's accrued but unused vacation time to the extent permitted under the Employers' vacation policies in effect as of the date hereof. The calculation and payment of such amounts shall be subject to the reasonable review and approval of Abington.
Payments to the Executive. The Employer shall pay the reasonable attorneys' fees and disbursements incurred by the Executive in connection with the preparation and negotiation of this Agreement. If litigation shall be instituted to enforce or interpret any provision hereof and the Executive shall prevail, the Employer will reimburse the Executive for his reasonable attorneys' fees and disbursements incurred in such proceeding and will pay prejudgment interest at the legal rate then in effect on any money judgment or award obtained by the Executive in such proceeding.
Payments to the Executive. 4.1 In satisfaction of the bonus earned by the Executive for his service to the Company during the year ended December 31, 2008, effective as of the date hereof, the Company has issued to the Executive a stock option grant to acquire 68,182 shares of the Company’s common stock at an exercise price of $0.66 per share. Such stock option grant shall be fully vested as of the date hereof and shall be exercisable until March 31, 2019, the tenth anniversary of the date hereof. Such grant shall be granted under, and be subject to, the terms of the Company’s Amended and Restated 2005 Incentive Plan, as amended.
Payments to the Executive. (a) Company has delivered to Trustee a payment schedule attached hereto as Schedule A (the “Payment Schedule”), which Payment Schedule may be amended from time to time as provided in Section 12, indicating the amounts payable to the Executive, a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the SERP), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Executive in accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal and state taxes that may be required to be withheld with respect to the payment of benefits pursuant to the SERP and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company. Payment will be made to the Executive’s beneficiary as set forth in the Payment Schedule respecting payments upon death, if the Executive dies before payment is due under the Payment Schedule. Xxxxxxxxx amended SERP October 12, 2017
Payments to the Executive. In lieu of any amounts required to be ------------------------- paid to the Executive under Section 4 or 5 of the Employment Agreement, the Company shall make the following payments to the Executive:
Payments to the Executive. Any payments to the Executive, his estate or designated beneficiary pursuant to the terms of this Agreement shall be reduced by such amounts as are required to be withheld under all present and future federal, state, and local tax and other laws and regulations.
Payments to the Executive. In consideration of the Executive’s services as a consultant, for the release provided by the Executive herein, and in full satisfaction of all claims that the Executive may have for bonus compensation for the year ending December 31, 2005, the Company shall pay to the Executive $75,000 (seventy-five thousand dollars), less all required taxes and other withholding authorized by the Executive, in three equal installments of $25,000 (twenty-five thousand dollars). The first installment shall be paid no later than five (5) days following the Effective Date. The second installment shall be paid three (3) months after payment of the initial installment. The final installment shall be paid six (6) months after payment of the initial installment. In addition, the Company shall reimburse the Executive within five (5) days following his submission of an invoice for legal services in connection with his separation from the Company and this Agreement; provided, that the Company’s reimbursement obligation pursuant to this sentence shall be capped at $5,000.
Payments to the Executive of all compensation contemplated under this Agreement shall be subject to all applicable legal requirements with respect to the inclusion of income, withholding of taxes and other deductions required by law.
