Common use of CONSIDERATION PROVIDED BY THE HOLDING COMPANY Clause in Contracts

CONSIDERATION PROVIDED BY THE HOLDING COMPANY. (a) The compensation specified under this Agreement shall constitute consideration paid by the Holding Company in exchange for the duties described in Section 1 of this Agreement. The Holding Company shall pay Executive as compensation a salary of not less than $220,329 per year ("Base Salary"). Base Salary shall include any amounts of compensation deferred by Executive under any tax-qualified retirement plan or welfare plan or any other deferred compensation arrangement maintained by the Bank or the Holding Company. Executive's Base Salary shall be payable in accordance with the Holding Company's general payroll practices. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually; on or about December 30th each year. Such review shall be conducted by the Board or a committee designated by the Board, and the Board may increase Executive's Base Salary at any time. The increased Base Salary shall become the new "Base Salary" for purposes of this Agreement. In addition to the Base Salary provided in this Section 3(a), the Holding Company shall also provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Holding Company and the Bank.

CONSIDERATION PROVIDED BY THE HOLDING COMPANY. (a) The compensation specified under this Agreement shall constitute consideration paid by the Holding Company in exchange for the duties described in Section 1 of this Agreement. The Holding Company shall pay Executive as compensation a salary of not less than $220,329 138,275 per year ("Base Salary"). Base Salary shall include any amounts of compensation deferred by Executive under any tax-qualified retirement plan or welfare plan or any other deferred compensation arrangement maintained by the Bank or the Holding Company. Executive's Base Salary shall be payable in accordance with the Holding Company's general payroll practices. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually; on or about December 30th each year. Such review shall be conducted by the Board or a committee designated by the Board, and the Board may increase Executive's Base Salary at any time. The increased Base Salary shall become the new "Base Salary" for purposes of this Agreement. In addition to the Base Salary provided in this Section 3(a), the Holding Company shall also provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Holding Company and the Bank.

CONSIDERATION PROVIDED BY THE HOLDING COMPANY. (a) The compensation specified under this Agreement shall constitute consideration paid by the Holding Company in exchange for the duties described in Section 1 of this Agreement. The Holding Company shall pay Executive as compensation a salary of not less than $220,329 140,438 per year ("Base Salary"). Base Salary shall include any amounts of compensation deferred by Executive under any tax-qualified retirement plan or welfare plan or any other deferred compensation arrangement maintained by the Bank or the Holding Company. Executive's Base Salary shall be payable in accordance with the Holding Company's general payroll practices. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually; on or about December 30th each year. Such review shall be conducted by the Board or a committee designated by the Board, and the Board may increase Executive's Base Salary at any time. The increased Base Salary shall become the new "Base Salary" for purposes of this Agreement. In addition to the Base Salary provided in this Section 3(a), the Holding Company shall also provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Holding Company and the Bank.

CONSIDERATION PROVIDED BY THE HOLDING COMPANY. (a) The compensation specified under this Agreement shall constitute consideration paid by the Holding Company in exchange for the duties described in Section 1 of this Agreement. The Holding Company shall pay Executive as compensation a salary of not less than $220,329 330,750 per year ("Base Salary"). Base Salary shall include any amounts of compensation deferred by Executive under any tax-qualified retirement plan or welfare plan or any other deferred compensation arrangement maintained by the Bank or the Holding Company. Executive's Base Salary shall be payable in accordance with the Holding Company's general payroll practices. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually; on or about December 30th each year. Such review shall be conducted by the Board or a committee designated by the Board, and the Board may increase Executive's Base Salary at any time. The increased Base Salary shall become the new "Base Salary" for purposes of this Agreement. In addition to the Base Salary provided in this Section 3(a), the Holding Company shall also provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Holding Company and the Bank.

CONSIDERATION PROVIDED BY THE HOLDING COMPANY. (a) The compensation specified under this Agreement shall constitute consideration paid by the Holding Company in exchange for the duties described in Section 1 of this Agreement. The Holding Company shall pay Executive as compensation a salary of not less than $220,329 180,000 per year ("Base Salary"). Base Salary shall include any amounts of compensation deferred by Executive under any tax-qualified retirement plan or welfare plan or any other deferred compensation arrangement maintained by the Bank or the Holding Company. Executive's Base Salary shall be payable in accordance with the Holding Company's general payroll practices. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually; on or about December 30th each year. Such review shall be conducted by the Board or a committee designated by the Board, and the Board may increase Executive's Base Salary at any time. The increased Base Salary shall become the new "Base Salary" for purposes of this Agreement. In addition to the Base Salary provided in this Section 3(a), the Holding Company shall also provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Holding Company and the Bank.