Common use of Consultation Payments Clause in Contracts

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine and 68/100 Dollars ($849.68) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

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Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine One Thousand Seven Hundred Twenty-One and 68/100 58/100 Dollars ($849.681,721.58) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Employee Death Benefit And (First Citizens Bancshares Inc /De/)

Consultation Payments. In the event Employee retires from employment on Employee’s 's Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine One Thousand Three Hundred Thirty-Eight and 68/100 52/100 Dollars ($849.681,338.52) per month, beginning not later than two (2) months after Employee’s 's Retirement Date, for a period of ten (10) years following Employee’s 's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s 's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s 's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."

Appears in 1 contract

Samples: And Consultation Agreement (First Citizens Bancshares Inc /De/)

Consultation Payments. In the event Employee retires from employment on Employee’s 's Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine One Thousand Seven Hundred Eighty-One and 68/100 25/100 Dollars ($849.681,781.25) per month, beginning not later than two (2) months after Employee’s 's Retirement Date, for a period of ten (10) years following Employee’s 's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s 's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s 's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."

Appears in 1 contract

Samples: And Consultation Agreement (Fidelity Bancshares Nc Inc /De/)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine Three Thousand Ninety-One and 68/100 52/100 Dollars ($849.683,091.52) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Employee Death Benefit And (First Citizens Bancshares Inc /De/)

Consultation Payments. In the event Employee retires from employment on Employee’s 's Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine One Thousand Three Hundred Ninety-Five and 68/100 78/100 Dollars ($849.681,395.78) per month, beginning not later than two (2) months after Employee’s 's Retirement Date, for a period of ten (10) years following Employee’s 's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s 's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s 's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."

Appears in 1 contract

Samples: And Consultation Agreement (Fidbank Capital Trust I)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine Six Thousand Nine Hundred Seventy-Six and 68/100 02/100 Dollars ($849.686,976.02) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Employee Death Benefit And (First Citizens Bancshares Inc /De/)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of one thousand eight hundred forty nine seventy five and 68/100 06/100 Dollars ($849.681,875.06) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight one thousand one hundred forty nine ninety seven and 68/100 91/100 Dollars ($849.681,197.91) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Consultation Payments. In the event Employee retires from employment on Employee’s 's Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine Two Thousand One Hundred Eighty-Four and 68/100 37/100 Dollars ($849.682,184.37) per month, beginning not later than two (2) months after Employee’s 's Retirement Date, for a period of ten (10) years following Employee’s 's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s 's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s 's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."

Appears in 1 contract

Samples: And Consultation Agreement (Fidelity Bancshares Nc Inc /De/)

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Consultation Payments. In the event Employee retires from employment on Employee’s 's Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine One Thousand Thirty-Five and 68/100 72/100 Dollars ($849.681,035.72) per month, beginning not later than two (2) months after Employee’s 's Retirement Date, for a period of ten (10) years following Employee’s 's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s 's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s 's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."

Appears in 1 contract

Samples: And Consultation Agreement (Fidbank Capital Trust I)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine Six Thousand Nine Hundred Seventy Six and 68/100 02/100 Dollars ($849.686,976.02) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Employee Death Benefit And (First Citizens Bancshares Inc /De/)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of one thousand seventy eight hundred forty nine and 68/100 22/100 Dollars ($849.681,078.22) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Noncompetition and Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Consultation Payments. In the event Employee retires from ---------------------- employment on Employee’s 's Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine One Thousand One Hundred Seventy-One and 68/100 87/100 Dollars ($849.681,171.87) per month, beginning not later than two (2) months after Employee’s 's Retirement Date, for a period of ten (10) years following Employee’s 's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s 's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s 's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."

Appears in 1 contract

Samples: And Consultation Agreement (First Citizens Bancorporation of South Carolina Inc)

Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of eight hundred forty nine Five Thousand Five Hundred Thirty-Eight and 68/100 67/100 Dollars ($849.685,538.67) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”

Appears in 1 contract

Samples: Employee Death Benefit And (First Citizens Bancshares Inc /De/)

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