Common use of Compensation and Benefits Due Officer Clause in Contracts

Compensation and Benefits Due Officer. In the event of a termination for Good Reason, the Bank/Company shall pay to the Officer salary and employee benefits for the balance of the term of the Agreement.

Compensation and Benefits Due Officer. In the event of a termination for Good Reason, the Bank/Company shall pay to the Officer salary and employee benefits for the balance of the term of the Agreement and after the term of the Agreement, the Bank/Company shall continue to cover Employee and dependent under the Company health/life benefit plan. The portion of the premium paid by the Officer shall be withhold from any deferred compensation paid to the Officer after termination of employment or if none, shall be paid personally by the Officer.