Common use of Executive’s Right to Waive Payments Clause in Contracts

Executive’s Right to Waive Payments. Executive shall have the right to waive his rights to receive payments and Benefits otherwise due under this Paragraph 5.3 by giving advance written notice of such waiver to the Bank. After receipt of such notice, the Bank shall have no further obligation to provide any payments or Benefits under this Paragraph 5.3.

Appears in 4 contracts

Samples: Employment Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp)

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Executive’s Right to Waive Payments. Executive shall have the right to waive his rights to receive payments and Benefits otherwise due under this Paragraph 5.3 by giving advance written notice of such waiver to the BankEmployer. After receipt of such notice, the Bank Employer shall have no further obligation to provide any payments or Benefits under this Paragraph 5.3.

Appears in 4 contracts

Samples: Non Qualified Stock Option Agreement (1st Pacific Bancorp), Non Qualified Stock Option Agreement (1st Pacific Bancorp), Restricted Stock Award Agreement (1st Pacific Bancorp)

Executive’s Right to Waive Payments. Executive shall have the right to waive his rights to receive such payments and Benefits otherwise due under this Paragraph 5.3 5.2 by giving advance written notice of such waiver to the Bank. After receipt of such notice, the Bank shall have no further obligation to provide any payments or Benefits under this Paragraph 5.35.2.

Appears in 4 contracts

Samples: Employment Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp)

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Executive’s Right to Waive Payments. Executive shall have the right to waive his rights to receive such payments and Benefits otherwise due under this Paragraph 5.3 5.2 by giving advance written notice of such waiver to the BankEmployer. After receipt of such notice, the Bank Employer shall have no further obligation to provide any payments or Benefits under this Paragraph 5.35.2.

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (1st Pacific Bancorp), Restricted Stock Award Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp)

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