Bonus/Incentive Pay. Executive shall be eligible to participate in any bonus plan or incentive pay arrangement or other similar arrangement of the Bank or the Company in which senior management is eligible to participate. Executive shall also be eligible for discretionary bonuses, as determined by the Board of Trustees in its discretion. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement.
Appears in 4 contracts
Samples: Employment Agreement, Employment Agreement (SSB Bancorp, Inc.), Employment Agreement (SSB Bancorp, Inc.)
Bonus/Incentive Pay. Executive shall be eligible to participate in any bonus plan or incentive pay arrangement or other similar arrangement of the Bank or the Company in which senior management is eligible to participate. Executive shall also be eligible for discretionary bonuses, as determined by the Board of Trustees Directors in its discretion. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement..
Appears in 2 contracts
Samples: Employment Agreement (Catalyst Bancorp, Inc.), Employment Agreement (Catalyst Bancorp, Inc.)
Bonus/Incentive Pay. Executive shall be eligible to participate in any bonus plan or incentive pay arrangement or other similar arrangement of the Bank or the Company in which senior management is eligible to participate. Executive shall also be eligible for discretionary bonuses, as determined by the Board of Trustees Directors in its discretion. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement..
Appears in 1 contract
