Common use of Compensation Benefits and Reimbursement Clause in Contracts

Compensation Benefits and Reimbursement. (a) In consideration of Executive’s performance of the responsibilities and duties set forth in this Agreement, the Bank will provide Executive the compensation specified in this Agreement. The Bank will pay Executive a salary of not less than $238,523.43 per year (“Base Salary”). Such Base Salary will be payable in accordance with the customary payroll practices of the Bank. During the term of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall be conducted by a Committee designated by the Board, and the Board may increase, but not decrease (other than a decrease which is applicable to all senior officers of the Bank and in a percentage not in excess of the percentage decrease for other senior officers), Executive’s Base Salary (any increase in Base Salary shall become the “Base Salary” for purposes of this Agreement).

Compensation Benefits and Reimbursement. (a) In consideration of Executive’s performance of the responsibilities and duties set forth in this Agreement, the Bank will provide Executive the compensation specified in this Agreement. The Bank will pay Executive a salary of not less than $238,523.43 100,123.01 per year (“Base Salary”). Such Base Salary will be payable in accordance with the customary payroll practices of the Bank. During the term of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall be conducted by a Committee designated by the Board, and the Board may increase, but not decrease (other than a decrease which is applicable to all senior officers of the Bank and in a percentage not in excess of the percentage decrease for other senior officers), Executive’s Base Salary (any increase in Base Salary shall become the “Base Salary” for purposes of this Agreement).

Compensation Benefits and Reimbursement. (a) In consideration of Executive’s performance of the responsibilities and duties set forth in this Agreement, the Bank will provide Executive the The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties and responsibilities described in this AgreementSection 1. The Bank will shall pay Executive as compensation a salary of not less than $238,523.43 200,000 per year (“Base Salary”). Such Base Salary will shall be payable in accordance with the customary payroll practices of the Bank. During the term period of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall may be conducted by a Committee the compensation committee (the “Committee”) designated by the Board, Board and the Board may increase, but not decrease (other than a decrease which is applicable to all senior officers of the Bank and in a percentage not in excess of the percentage decrease for other senior officers)decrease, Executive’s Base Salary (except for a decrease that is not in excess of any decrease that is generally applicable to all employees of the Bank). Any increase in Base Salary shall become the “Base Salary” Salary for purposes of this Agreement).