Guarantee; Non-Duplication. The Company hereby agrees to guarantee the payment by the Bank of any benefits and compensation to which the Executive is or may be entitled to under the terms and conditions of the employment agreement of even date herewith between the Bank and the Executive. In the event that the Executive shall perform services for the Bank or any other direct or indirect subsidiary of the Company, any compensation or benefits provided to the Executive by such other employer shall be applied to offset the obligations of the Company hereunder, it being intended that this Agreement set forth the aggregate compensation and benefits payable to the Executive for all services to the Company and all of its direct or indirect subsidiaries.
Appears in 9 contracts
Samples: Employment Agreement (Lake Shore Bancorp, Inc.), Employment Agreement (CMS Bancorp, Inc.), Employment Agreement (Lake Shore Bancorp, Inc.)
Guarantee; Non-Duplication. The Company hereby agrees to guarantee the payment by the Bank of any benefits and compensation to which the Executive is or may be entitled to under the terms and conditions of the employment agreement Agreement of even date herewith between the Bank and the Executive. In the event that the Executive shall perform services for the Bank or any other direct or indirect subsidiary of the Company, any compensation or benefits provided to the Executive by such other employer shall be applied to offset the obligations of the Company hereunder, it being intended that this Agreement set forth the aggregate compensation and benefits payable to the Executive for all services to the Company and all of its direct or indirect subsidiaries.
Appears in 2 contracts
Samples: Employment Agreement (Charter Financial Corp), Employment Agreement (Charter Financial Corp)
Guarantee; Non-Duplication. The Company hereby agrees to guarantee the payment by the Bank of any benefits and compensation to which the Executive executive is or may be entitled to under the terms and conditions of the employment agreement of even date herewith between the Bank and the Executive. In the event that the Executive shall perform services for the Bank or any other direct or indirect subsidiary of the Company, any compensation or benefits provided to the Executive by such other employer shall be applied to offset the obligations of the Company hereunder, it being intended that this Agreement set forth the aggregate compensation and benefits payable to the Executive for all services to the Company and all of its direct or indirect subsidiaries.
Appears in 2 contracts
Samples: Employment Agreement (Af Financial Group), Employment Agreement (Af Financial Group)
