Common use of COMPENSATION AND DUTIES Clause in Contracts

COMPENSATION AND DUTIES. In consideration of the Employee's services for a period equivalent to ten (10) days a month, based upon a regular work week of four (4) days, after his resignation or termination as Chief Executive Officer, his agreement to perform duties as reasonably requested by the Company and his compliance with paragraph 5 herein, it is agreed as follows: (A) The Employee shall receive $16,000 a month, and, to the extent permissible, all benefits being received at the time of his resignation or termination as Chief Executive Officer for a period of three months, after the date of resignation or termination. (B) At the end of the above three months, the Employee's compensation will change to $6,666.67 per month for the next consecutive 33 months, and he shall receive all current benefits as above. The Employee shall be eligible to participate, to the extent permissible, in new benefits should they occur during this period of time. For ESOP and all other benefit purposes, the Employee shall continue to be treated as a full-time employee for the duration of the Agreement to the extent permissible and consistent with the terms of the ESOP and all applicable laws. (C) It is agreed that the Employee shall be reasonably available by telephone or otherwise to render advice and counsel, but need not be physically present at the Company's offices, unless his physical presence is reasonably requested by the Company. Should the employee be required to engage in any activity not within the scope of this agreement, he shall be reimbursed, in addition to his monthly salary, at an hourly rate to be mutually agreed upon between an authorized representative of the Company and himself. (D) If the Employee dies either during the Term, before his resignation or termination as Chief Executive Officer, or during the 36 month period after his transitional services become effective following such resignation or termination, the compensation payments provided for in Sections 2 (A) and (B) will be paid, as scheduled, to the Employee's estate. In the event of the Employee's death, all other benefits shall cease at death. (E) The compensation and benefits payable hereunder shall be the Employee's sole and exclusive entitlement following his resignation or termination as Chief Executive Officer.

COMPENSATION AND DUTIES. In consideration of the Employee's services -- ----------------------- for a period equivalent to ten (10) days a month, based upon a regular work week of four (4) days, after his resignation or termination as Chief Executive Officer, his agreement to perform duties as reasonably requested by the Company and his compliance with paragraph 5 herein, it is agreed as follows: (A) The Employee shall receive $16,000 a month, and, to the extent permissible, all benefits being received at the time of his resignation or termination as Chief Executive Officer for a period of three months, after the date of resignation or termination. (B) At the end of the above three months, the Employee's compensation will change to $6,666.67 8,666.67 per month for the next consecutive 33 months, and he shall receive all current benefits as above. The Employee shall be eligible to participate, to the extent permissible, in new benefits should they occur during this period of time. For ESOP and all other benefit purposes, the Employee shall continue to be treated as a full-time employee for the duration of the Agreement to the extent permissible and consistent with the terms of the ESOP and all applicable laws. (C) It is agreed that the Employee shall be reasonably available by telephone or otherwise to render advice and counsel, but need not be physically present at the Company's offices, unless his physical presence is reasonably requested by the Company. Should the employee be required to engage in any activity not within the scope of this agreement, he shall be reimbursed, in addition to his monthly salary, at an hourly rate to be mutually agreed upon between an authorized representative of the Company and himself. (D) If the Employee dies either during the Term, before his resignation or termination as Chief Executive Officer, or during the 36 month period after his transitional services become effective following such resignation or termination, the compensation payments provided for in Sections 2 (A) and (B) will be paid, as scheduled, to the Employee's estate. In the event of the Employee's death, all other benefits shall cease at death. (E) The compensation and benefits payable hereunder shall be the Employee's sole and exclusive entitlement following his resignation or termination as Chief Executive Officer.

COMPENSATION AND DUTIES. In consideration of the Employee's ----------------------- services for a period equivalent to ten (10) 5 days a month, based upon a regular work week of four (4) days, month after his resignation or termination as Chief Executive Officertermination, his agreement and to perform duties as reasonably requested by the Company and his compliance to comply with paragraph 5 herein, it is agreed as follows: (A) The Employee shall receive $16,000 15,000 a month, and, to the extent permissible, all benefits being received at the time of his resignation or termination as Chief Executive Officer for a period of three months, after the date of resignation or termination. (B) At the end of the above three months, the Employee's compensation will change to $6,666.67 4,333.33 per month for the next consecutive 33 months, and he shall receive all current benefits as above. The Employee shall be eligible to participate, to the extent permissible, in new benefits should they occur during this period of time. For ESOP and all other benefit purposes, the Employee shall continue to be treated as a full-time employee for the duration of the Agreement to the extent permissible and consistent with the terms of the ESOP and all applicable laws. (C) It is agreed that the Employee shall be reasonably available by telephone or otherwise to render advice and counsel, but need not be physically present at the Company's officespresent, unless his physical presence is reasonably requested by the Company. The parties agree that the Employee need not be physically present at the Company's offices after the date of his resignation or termination. Should the employee be required to engage in any activity not within the scope of this agreement, he shall be reimbursed, in addition to his monthly salary, at an hourly rate to be mutually agreed upon between an authorized representative of the Company and himself. (D) If the Employee dies either during the TermTerm of this Agreement, before his resignation or termination as Chief Executive Officer, or during including death prior to the 36 month period after his transitional services become effective following such date of resignation or termination, the compensation payments provided for in Sections 2 (A) and and (B) will be paid, as scheduled, to the Employee's estateestate or the aggregate amount payable may be prepaid at the Company's election. If the Company elects such a prepayment pursuant to this Section, the prepayment amount shall be reduced by fifteen percent (15%). In the event of the Employee's death, all other benefits shall cease at death. (E) The compensation and benefits payable hereunder shall be the Employee's sole and exclusive entitlement following remedy in the event of his resignation or termination termination. (F) The number of days of service per month required from the Employee may be reduced to a number not less than two, provided, however, in no event shall the reduction trigger a separation from service while the Employee is a "key employee" for purposes of Section 409A of the Internal Revenue Code of 1986, as Chief Executive Officeramended.

COMPENSATION AND DUTIES. In consideration of the Employee's services -- ----------------------- for a period equivalent to ten nine (109) days a month, based upon a regular work week of four (4) days, after his resignation or termination as President and Chief Executive Officer, his agreement to perform duties as reasonably requested by the Company and his compliance with paragraph 5 herein, it is agreed as follows: (A) The Employee shall receive $16,000 15,000 a month, and, to the extent permissible, all benefits being received at the time of his resignation or termination as President and Chief Executive Officer for a period of three months, after the date of resignation or termination. (B) At the end of the above three months, the Employee's compensation will change to $6,666.67 4,333.33 per month for the next consecutive 33 months, and he shall receive all current benefits as above. The Employee shall be eligible to participate, to the extent permissible, in new benefits should they occur during this period of time. For ESOP and all other benefit purposes, the Employee shall continue to be treated as a full-time employee for the duration of the Agreement to the extent permissible and consistent with the terms of the ESOP and all applicable laws. (C) It is agreed that the Employee shall be reasonably available by telephone or otherwise to render advice and counsel, but need not be physically present at the Company's offices, unless his physical presence is reasonably requested by the Company. Should the employee be required to engage in any activity not within the scope of this agreement, he shall be reimbursed, in addition to his monthly salary, at an hourly rate to be mutually agreed upon between an authorized representative of the Company and himself. (D) If the Employee dies either during the Term, before his resignation or termination as President and Chief Executive Officer, or during the 36 month period after his transitional services become effective following such resignation or termination, the compensation payments provided for in Sections 2 (A) and and (B) will be paid, as scheduled, to the Employee's estate. In the event of the Employee's death, all other benefits shall cease at death. (E) The compensation and benefits payable hereunder shall be the Employee's sole and exclusive entitlement following his resignation or termination as President and Chief Executive Officer.

COMPENSATION AND DUTIES. In consideration of the Employee's services ’s willingness to work for the Company for a period equivalent to ten (10) 2 days a month, based upon a regular work week of four (4) days, month after his resignation or termination as Chief Executive Officerresignation, his agreement and to perform duties as reasonably requested by the Company and his compliance with paragraph 5 hereinCompany, it is agreed as followsthe Employee shall receive the following compensation: (A) The Employee employee shall receive $16,000 920.00 a month, and, to the extent permissible, week and all benefits being received at the time of his resignation or termination as Chief Executive Officer for a period of three monthsthirteen (13) weeks, after in accordance with the date of resignation or terminationCompany’s regular payroll. (B) At the end of the above three months, thirteen (13) pay periods the Employee's ’s compensation will change to $6,666.67 300.00 per month week for the next consecutive 33 monthssucceeding 104 weeks, and he shall receive all current benefits as above. The Employee shall be eligible to participate, to the extent permissible, participate in new benefits should they occur during this period of time. For ESOP and all other benefit purposes, the Employee shall continue to be treated as a full-time employee for the duration of the Agreement to the extent permissible and consistent with the terms of the ESOP and all applicable laws. (C) It is agreed that the Employee shall be reasonably available by telephone or otherwise to render advice and counsel, but need not be physically present at the Company's officespresent, unless his physical presence is reasonably requested by the Company. Should the employee be required to engage in any activity not within the scope of this agreement, he shall be reimbursed, in addition to his monthly weekly salary, at an hourly rate to be mutually agreed upon between an any authorized representative of the Company company and himself. For ESOP and all other benefit purposes, the Employee shall continue to be treated as a full-time employee for the duration of this agreement to the extent consistent with the terms of the ESOP and all applicable law. (D) If the Employee dies either during the Termterm of this Agreement, before his resignation or termination as Chief Executive Officer, or during the 36 month period after his transitional services become effective following such resignation or termination, the compensation remaining payments provided for in Sections 2 (A) and (B) will be paidmade, as scheduled, to the Employee's estate’s spouse, and if she dies before full payment, to her estate or as she may direct. In the event of the Employee's ’s death, all other benefits shall cease at death, except that the Company shall continue to pay Employee’s spouse’s medical benefits for ninety days from the date of Employee’s death or to the termination date of this Agreement, whichever is earlier. (E) The compensation and benefits payable hereunder shall be the Employee's sole and exclusive entitlement following his resignation or termination as Chief Executive Officer.