Common use of Discretionary Bonuses Clause in Contracts

Discretionary Bonuses. The Employee shall participate in an equitable manner with all other senior management employees of the Bank and in discretionary bonuses that the Boards of Directors of the Bank and the Company may award from time to time to their senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during the three calendar years immediately preceding the year in which the Change in Control occurs.

Appears in 4 contracts

Samples: Employment Agreement (Norwood Financial Corp), Employment Agreement (Norwood Financial Corp), Employment Agreement (Norwood Financial Corp)

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Discretionary Bonuses. The Employee shall participate in an equitable ----------------------- manner with all other senior management employees of the Bank and Company in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Company's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the such Change in Control occurs.

Appears in 2 contracts

Samples: Employment Agreement (HCB Bancshares Inc), Employment Agreement (HCB Bancshares Inc)

Discretionary Bonuses. The Employee shall participate in an equitable ----------------------- manner with all other senior management employees of the Bank and in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Bank's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the such Change in Control occurs.

Appears in 2 contracts

Samples: Employment Agreement (HCB Bancshares Inc), Employment Agreement (HCB Bancshares Inc)

Discretionary Bonuses. The Employee shall participate in an --------------------- equitable manner with all other senior management employees of the Bank and in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Bank's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the Change such change in Control control occurs.

Appears in 2 contracts

Samples: Employment Agreement (Cumberland Mountain Bancshares Inc), Employment Agreement (Cumberland Mountain Bancshares Inc)

Discretionary Bonuses. The Employee shall participate in an ----------------------- equitable manner with all other senior management employees of the Bank and Company in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Company's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the such Change in Control occurs.

Appears in 1 contract

Samples: Employment Agreement (HCB Bancshares Inc)

Discretionary Bonuses. The Employee shall participate in an --------------------- equitable manner with all other senior management employees of the Bank and Association in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Association's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the such Change in Control occurs.

Appears in 1 contract

Samples: Employment Agreement (Rocky Ford Financial Inc)

Discretionary Bonuses. The Employee shall participate in an equitable --------------------- manner with all other senior management employees of the Bank and in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Bank's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change change in Controlcontrol as defined in Section 10(a)(4) of this Agreement, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the Change such change in Control control occurs.

Appears in 1 contract

Samples: Employment Agreement (Ajs Bancorp Inc)

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Discretionary Bonuses. The Employee shall participate in an --------------------- equitable manner with all other senior management employees of the Bank and in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Bank's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change change in Controlcontrol as defined in Section 11(a)(4) of this Agreement, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the Change such change in Control control occurs.

Appears in 1 contract

Samples: Employment Agreement (Heartland Bancshares Inc)

Discretionary Bonuses. The Employee shall participate in an equitable ---------------------- manner with all other senior management employees of the Bank and Company in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Company's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the such Change in Control occurs.. -3-

Appears in 1 contract

Samples: Employment Agreement (HCB Bancshares Inc)

Discretionary Bonuses. The Employee shall participate in an equitable ---------------------- manner with all other senior management employees of the Bank and in discretionary bonuses that the Boards of Directors of the Bank and the Company Board may award from time to time to their the Bank's senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee's right to participate in such discretionary bonuses. Notwithstanding the foregoing, following a Change in Control, the Employee shall receive discretionary bonuses that are made no less frequently than, and in annual amounts not less than, the average annual discretionary bonuses paid to the Employee during each of the three calendar years immediately preceding the year in which the such Change in Control occurs.

Appears in 1 contract

Samples: Employment Agreement (HCB Bancshares Inc)

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