Common use of Base Salary Reduction Clause in Contracts

Base Salary Reduction. Pursuant to the terms of my Deferred Compensation Agreement with the Bank, I hereby elect to defer, pursuant to the terms of Section 1 of the Agreement, $48,000.00 of my trustee fees, effective January 1, 1998. I recognize that my election to defer shall be effective for the calendar year set forth in the immediately preceding paragraph and all calendar years thereafter until I amend or revoke the election. I recognize that any such amendment or revocation can only be effective as of the beginning of the calendar year following my delivery of such amendment or revocation to the Board of Investment of the Bank.

Base Salary Reduction. Pursuant to the terms of my Deferred Compensation Agreement with the Bank, I hereby elect to defer, pursuant to the terms of Section 1 of the Agreement, $48,000.00 10,000.00 of my trustee fees, effective January 1, 19981999. I recognize that my election to defer shall be effective for the calendar year set forth in the immediately preceding paragraph and all calendar years thereafter until I amend or revoke the election. I recognize that any such amendment or revocation can only be effective as of the beginning of the calendar year following my delivery of such amendment or revocation to the Board of Investment of the Bank.

Base Salary Reduction. Pursuant to the terms of my Deferred Compensation Agreement with the Bank, I hereby elect to defer, pursuant to the terms of Section 1 of the Agreement, $48,000.00 $ 60,000 of my trustee fees, effective January 1, 19982005. I recognize that my election to defer shall be effective for the calendar year set forth in the immediately preceding paragraph and all calendar years thereafter until I amend or revoke the election. I recognize that any such amendment or revocation can only be effective as of the beginning of the calendar year following my delivery of such amendment or revocation to the Board of Investment of the Bank.

Base Salary Reduction. Pursuant to the terms of my Deferred Compensation Agreement with the Bank, I hereby elect to defer, pursuant to the terms of Section 1 of the Agreement, $48,000.00 9,000.00 of my trustee fees, effective January 1, 19981999. I recognize that my election to defer shall be effective for the calendar year set forth in the immediately preceding paragraph and all calendar years thereafter until I amend or revoke the election. I recognize that any such amendment or revocation can only be effective as of the beginning of the calendar year following my delivery of such amendment or revocation to the Board of Investment of the Bank.

Base Salary Reduction. Pursuant to the terms of my Deferred Compensation Agreement with the Bank, I hereby elect to defer, pursuant to the terms of Section 1 of the Agreement, $48,000.00 65,000.00 of my trustee fees, effective January 1, 19982001. I recognize that my election to defer shall be effective for the calendar year set forth in the immediately preceding paragraph and all calendar years thereafter until I amend or revoke the election. I recognize that any such amendment or revocation can only be effective as of the beginning of the calendar year following my delivery of such amendment or revocation to the Board of Investment of the Bank.