Common use of Bonus and Incentive Compensation Clause in Contracts

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary in a performance bonus for the term of this Agreement. Payment of a performance bonus, if applicable, shall be made no later March 15 of the calendar year immediately following the year in which the performance bonus was earned. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary in a performance bonus for the term of this Agreement. Payment of a performance bonus, if applicable, shall be made no later March 15 than May 31 of the calendar year immediately following the year in which the performance bonus was earned. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary in a performance bonus for the term of this Agreement. Payment After due consideration, and in recognition of a the Executive's performance bonus, if applicable, shall be made no later March 15 of for the calendar year immediately following 2016, the year in which the performance Executive has been awarded a bonus was earnedof $88,000. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent % of his Base Salary in a performance bonus for the term each year, payment of this Agreement. Payment of a performance bonus, if applicable, which shall be made no later March 15 of the calendar year immediately following the year in which the performance bonus was earned. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary in a performance bonus for the term of this Agreement. Payment After due consideration, and in recognition of a the Executive’s performance bonus, if applicable, shall be made no later March 15 of for the calendar year immediately following 2015, the year in which the performance Executive has been awarded a bonus was earnedof $75,000. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his her Base Salary in a performance bonus for the term of this Agreement. Payment After due consideration, and in recognition of a the Executive's performance bonus, if applicable, shall be made no later March 15 of for the calendar year immediately following 2016, the year in which the performance Executive has been awarded a bonus was earnedof $15,000. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary in a performance bonus for the term of this Agreement. Payment After due consideration, and in recognition of a the Executive’s performance bonus, if applicable, shall be made no later March 15 of for the calendar year immediately following 2015, the year in which the performance Executive has been awarded a bonus was earnedof $50,000. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary in a performance bonus for the term of this Agreement. Payment After due consideration, and in recognition of a the Executive's performance bonus, if applicable, shall be made no later March 15 of for the calendar year immediately following 2016, the year in which the performance Executive has been awarded a bonus was earnedof $50,000. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Bonus and Incentive Compensation. Executive shall be eligible to receive up to fifty (50%) percent of his Base Salary $125,000 in a performance bonus for the term first calendar year in which the Agreement takes effect, and for each calendar year thereafter Executive shall be eligible to receive up to 50% of this AgreementBase Salary in a performance bonus. Payment of a performance bonus, if applicable, shall be made no later March 15 of the calendar year immediately following the year in which the performance bonus was earned. In addition, Executive may be entitled to participate in any other incentive compensation and bonus plans or arrangements of the Bank or the Company. Any incentive compensation will be paid in cash in accordance with the terms of such plans or arrangements, or on a discretionary basis by the Committee. Nothing paid to Executive under any such plans or arrangements will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.