Common use of Executive Acknowledgments Clause in Contracts

Executive Acknowledgments. a. Executive acknowledges and agrees and understands that the consideration described in Section 3 is not required by the Bank’s policies and procedures and that the consideration in Section 3 exceeds any and all pay and benefits to which Executive already may have been entitled by contract or law, other than pursuant to the Employment Agreement, and constitutes good, valuable and sufficient consideration for Executive’s covenants and agreements contained in this Agreement. Executive further acknowledges that payment of the amounts identified in Section 3 of the Agreement shall fully satisfy the Bank’s obligations to the Executive under the Employment Agreement b. Except as contemplated by Sections 3 and 4.b. above, Executive acknowledges, understands and agrees that Executive has been paid in full for all hours that Executive has worked for the Bank and that Executive has been paid any and all compensation or bonuses which have been earned by Executive through the date of execution of this Agreement. c. Executive acknowledges and understands that, notwithstanding any provision of the Employment Agreement to the contrary, the restrictive covenants under Sections 7, 8 and 9 of the Employment Agreement and the enforcement provisions of Section 10 of the Employment Agreement shall remain in full force and effect. d. Executive acknowledges, understands and agrees that Executive has been notified of Executive’s rights under the Family and Medical Leave Act (FMLA) and state leave laws. Executive further acknowledges, understands and agrees that Executive has not been denied any leave requested under the FMLA or applicable state leave laws and that, to the extent applicable, Executive has been returned to Executive’s job, or an equivalent position, following any FMLA or state leave taken pursuant to the FMLA or state laws. e. Executive acknowledges, understands and agrees that it is Executive’s obligation to make a timely report, in accordance with the Bank’s policy and procedures, of any work-related injury or illness. Executive further acknowledges, understands and agrees that Executive has reported to the Bank’s management personnel any work-related injury or illness that occurred up to and including Executive’s last day of employment. f. Executive acknowledges, understands, and agrees that Executive has no knowledge of any actions or inactions by any of the Releasees or by Executive that Executive believes could possibly constitute a basis for a claimed violation of any federal, state, or local law, any common law or any rule promulgated by an administrative body. g. Executive acknowledges, understands and agrees that Executive is responsible for the payment of any and all local, state, and/or federal taxes which may be attributable to the consideration set forth in Section 3 and indemnifies and holds the Bank harmless from such tax consequences, including interest and/or penalties, arising out of such payment to Executive. No representations have been or are made herein by or to any signatory to this Agreement regarding the tax consequences of this Agreement. h. Executive affirms that the only consideration for his signing this Agreement is that set forth in Section 3 and that no other promise or agreement of any kind has been made to or with Executive by any person or entity to cause Executive to execute this document, and that Executive fully understands the meaning and intent of this Agreement, including but not limited to, its final and binding effect.

Executive Acknowledgments. a. Executive acknowledges and agrees and understands that the consideration described in Section 3 is not required by the BankEmployer’s policies and procedures and that the consideration in Section 3 exceeds any and all pay and benefits to which Executive already may have been entitled by contract or law, other than pursuant to the Employment Agreement, and constitutes good, valuable and sufficient consideration for Executive’s covenants and agreements contained in this Agreement. Executive further acknowledges that payment of the amounts identified in Section 3 of the Agreement shall fully satisfy the BankEmployer’s obligations to the Executive under the Employment Agreement. b. Except as contemplated by Sections 3 and 4.b. above, Executive acknowledges, understands and agrees that Executive has been paid in full for all hours that Executive has worked for the Bank Employer and that Executive has been paid any and all compensation or bonuses which have been earned by Executive through the date of execution of this Agreement. c. Executive acknowledges and understands that, notwithstanding any provision of the Employment Agreement to the contrary, the restrictive covenants under Sections 7, 8 and Subsections (b) and (c) of Section 9 of the Employment Agreement and the enforcement provisions of Section 10 of the Employment Agreement shall remain in full force and effect. d. Executive acknowledges, understands and agrees that Executive has been notified of Executive’s rights under the Family and Medical Leave Act (FMLA) and state leave laws. Executive further acknowledges, understands and agrees that Executive has not been denied any leave requested under the FMLA or applicable state leave laws and that, to the extent applicable, Executive has been returned to Executive’s job, or an equivalent position, following any FMLA or state leave taken pursuant to the FMLA or state laws. e. Executive acknowledges, understands and agrees that it is Executive’s obligation to make a timely report, in accordance with the BankEmployer’s policy and procedures, of any work-related injury or illness. Executive further acknowledges, understands and agrees that Executive has reported to the BankEmployer’s management personnel any work-related injury or illness that occurred up to and including Executive’s last day of employment. f. Executive acknowledges, understands, and agrees that Executive has no knowledge of any actions or inactions by any of the Releasees or by Executive that Executive believes could possibly constitute a basis for a claimed violation of any federal, state, or local law, any common law or any rule promulgated by an administrative body. g. Executive acknowledges, understands and agrees that Executive is responsible for the payment of any and all local, state, and/or federal taxes which may be attributable to the consideration set forth in Section 3 and indemnifies and holds the Bank Employer harmless from such tax consequences, including interest and/or penalties, arising out of such payment to Executive. No representations have been or are made herein by or to any signatory to this Agreement regarding the tax consequences of this Agreement. h. Executive affirms that the only consideration for his signing this Agreement is that set forth in Section 3 and that no other promise or agreement of any kind has been made to or with Executive by any person or entity to cause Executive to execute this document, and that Executive fully understands the meaning and intent of this Agreement, including but not limited to, its final and binding effect.

Executive Acknowledgments. a. Executive acknowledges and agrees and understands that the consideration described in Section 3 is not required by the BankEmployer’s policies and procedures and that the consideration in Section 3 exceeds any and all pay and benefits to which Executive Employee already may have been entitled by contract or law, other than pursuant to the Employment Agreement, law and constitutes good, valuable and sufficient consideration for ExecutiveEmployee’s covenants and agreements contained in this Agreement. Executive further acknowledges that payment of the amounts identified in Section 3 of the Agreement shall fully satisfy the Bank’s obligations to the Executive under the Employment Agreement. b. Except as contemplated by Sections 3 and 4.b. above, Executive acknowledges, understands and agrees that Executive has been paid in full for all hours that Executive has worked for the Bank Employer and that Executive has been paid any and all compensation or bonuses which have been earned by Executive through the date of execution of this Agreement. c. Executive acknowledges and understands that, notwithstanding any provision of the Employment Agreement to the contrary, the restrictive covenants under Sections 7, 8 and 9 Section 11 of the Employment Agreement Agreement, as modified by Subsection a. of Section 8 of this Agreement, and the enforcement remedies provisions of Section 10 12 of the Employment Agreement shall remain in full force and effect. d. With respect to the indemnification obligations of the Employer set forth in Section 9 above, Executive hereby affirms that he believes that he, at all times as an officer of the Employer, conducted himself in good faith and reasonably believed his conduct was in the best interest of the Employer. Executive hereby undertakes and agrees to repay to the Employer any and all such amounts, if and to the extent that it is determined that Executive is not entitled to be indemnified by the Employer. Executive shall make any repayment due to the Employer promptly, and in any event within thirty (30) days, after (1) the disposition, including any appeals, of the proceedings on account of which payments were made and (2) notification of the determination by the Employer that he is not entitled to indemnification; provided, however, that if either the Employer or the Executive files suit seeking a judicial determination of Executive’s rights to indemnification, any obligation Executive may have to repay advancements shall be tolled until such suit is finally adjudicated, including all appeals. e. Executive acknowledges, understands and agrees that Executive has been notified of Executive’s rights under the Family and Medical Leave Act (FMLA) and state leave laws. Executive further acknowledges, understands and agrees that Executive has not been denied any leave requested under the FMLA or applicable state leave laws and that, to the extent applicable, Executive has been returned to Executive’s job, or an equivalent position, following any FMLA or state leave taken pursuant to the FMLA or state laws. e. f. Executive acknowledges, understands and agrees that it is Executive’s obligation to make a timely report, in accordance with the BankEmployer’s policy and procedures, of any work-work related injury or illness. Executive further acknowledges, understands and agrees that Executive has reported to the BankEmployer’s management personnel any work-work related injury or illness that occurred up to and including Executive’s last day of employment. f. g. Executive acknowledges, understands, and agrees that Executive has no knowledge of any actions or inactions by any of the Releasees or by Executive that Executive believes could possibly constitute a basis for a claimed violation of any federal, state, or local law, any common law or any rule promulgated by an administrative body. g. Executive acknowledges, understands and agrees that Executive is responsible for the payment of any and all local, state, and/or federal taxes which may be attributable to the consideration set forth in Section 3 and indemnifies and holds the Bank harmless from such tax consequences, including interest and/or penalties, arising out of such payment to Executive. No representations have been or are made herein by or to any signatory to this Agreement regarding the tax consequences of this Agreement. h. Executive affirms that the only consideration for his signing this Agreement is that set forth in Section 3 and that no other promise or agreement of any kind has been made to or with Executive by any person or entity to cause Executive to execute this document, and that Executive fully understands the meaning and intent of this Agreement, including but not limited to, its final and binding effect...