Fringe Benefit. The salary continuation benefits provided by this Agreement are granted by the Bank as a fringe benefit to the Executive and are not part of any salary reduction plan or any arrangement deferring a bonus or salary increase. The Executive has no option to take any current payment or bonus in lieu of these salary continuation benefits.
Appears in 6 contracts
Samples: Executive Salary Continuation Agreement (Coast Bancorp), Executive Salary Continuation Agreement (Coast Bancorp), Executive Salary Continuation Agreement (Coast Bancorp)
Fringe Benefit. The salary continuation benefits provided by this Agreement are granted by the Bank Corporation as a fringe benefit to the Executive and are not part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payment or bonus in lieu of these salary continuation benefits.
Appears in 6 contracts
Samples: Continuation Agreement (United Community Bancshares Inc), Continuation Agreement (United Community Bancshares Inc), Continuation Agreement (United Security Bancorporation)
Fringe Benefit. The salary continuation benefits provided by this Agreement are granted by the Bank as a fringe benefit to the Executive and are not part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payment or bonus in lieu of these salary continuation benefits.
Appears in 4 contracts
Samples: Executive Salary Continuation Agreement (First Farmers & Merchants Corp), Continuation Agreement (Byl Bancorp), Executive Salary Continuation Agreement (Byl Bancorp)
Fringe Benefit. The salary continuation benefits provided by this Agreement are granted by the Bank Corporation as a fringe benefit to the Executive and are not part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payment or of bonus in lieu of these salary continuation benefits.
Appears in 2 contracts
Samples: Executive Salary Continuation Agreement (Boston Private Financial Holdings Inc), Executive Salary Continuation Agreement (Boston Private Financial Holdings Inc)
