Memberships. The Bank or the Company agree to pay for all of the Executive’s memberships in organizations or clubs, including all monthly dues, where the Executive is already a member of such club or organization as of the Commencement Date; provided, however, that the total annual cost of such memberships to the Company shall not exceed $10,000 without the specific prior approval of the Board of Directors.
Appears in 3 contracts
Samples: Employment Agreement, Employment Agreement (Coast Financial Holdings Inc), Employment Agreement (Coast Financial Holdings Inc)
Memberships. The Bank or the Company agree to pay for all of the Executive’s memberships in organizations or clubs, including all monthly dues, where the Executive is already a member of such club or organization as of the Commencement Date; provided, however, that all such memberships shall have been approved by the Chief Executive Officer of the Company and that the total annual cost of such memberships to the Company shall not exceed $10,000 5,000 without the specific prior approval of the Board of Directors.
Appears in 2 contracts
Samples: Employment Agreement (Coast Financial Holdings Inc), Employment Agreement (Coast Financial Holdings Inc)
