Common use of Payment Adjustments Clause in Contracts

Payment Adjustments. Notwithstanding anything to the contrary in this Article 3, any payment pursuant to this Article: (a) shall be subject to (i) any delay in payment or reduction required by Section 5.2 hereof, and (b) shall be subject to a set-off equal to the gross amount of any current or deferred compensation, including wages, salary, fees, benefits, tangible or intangible property or ownership rights or interests or other property rights, received by Executive or which he becomes entitled to receive in the future as remuneration for services to any Person, business or other entity as a result of, or in exchange for, any work or services performed, or any intellectual property conveyed by Executive, during the Restricted Period (“Remuneration”), provided that the foregoing provision shall in no way limit or impair Executive’s obligations or the Bank’s rights under Article 3 or Article 4 of this Agreement. Executive understands and agrees that the Bank’s set-off rights will accrue, and any set-off pursuant to this provision will be applied to any non-compete payments due (or previously paid or accrued), after the earlier of Executive’s receipt or accrual of Remuneration (the Set-off Date), and if Executive is not entitled to further payments under this Agreement, Executive agrees to refund the setoff amount in full to the Bank within fourteen (14 days) of Executive’s Certification reporting such remuneration or the Set-off Date, whichever is later.

Payment Adjustments. Notwithstanding anything to the contrary in this Article 3, any payment pursuant to this Article: (a) shall be subject to (i) any delay in payment or reduction required by Section 5.2 hereof, and (b) shall be subject to a set-off equal to the gross amount of any current or deferred compensation, including wages, salary, fees, benefits, tangible or intangible property or ownership rights or interests or other property rights, received by Executive Pozez or which he becomes entitled to receive in the future as remuneration for services to any Person, business or other entity as a result of, or in exchange for, any work or services performed, or any intellectual property conveyed by ExecutivePozez, during the Restricted Period (“Remuneration”), provided that the foregoing provision shall in no way limit or impair ExecutivePozez’s obligations or the Bank’s rights under Article 3 or Article 4 of this Agreement. Executive Pozez understands and agrees that the Bank’s set-off rights will accrue, and any set-off pursuant to this provision will be applied to any non-compete payments due (or previously paid or accrued), after the earlier of ExecutivePozez’s receipt or accrual of Remuneration (the Set-off Date), and if Executive Pozez is not entitled to further payments under this Agreement, Executive Pozez agrees to refund the setoff amount in full to the Bank within fourteen (14 days) of ExecutivePozez’s Certification reporting such remuneration or the Set-off Date, whichever is later.

Payment Adjustments. Notwithstanding anything to the contrary in this Article 3, any payment pursuant to this Article: (a) shall be subject to (i) any delay in payment or reduction required by Section 5.2 hereof, and (b) shall be subject to a set-off equal to the gross amount of any current or deferred compensation, including wages, salary, fees, benefits, tangible or intangible property or ownership rights or interests or other property rights, received by Executive Xxxxxx or which he becomes entitled to receive in the future as remuneration for services to any Person, business or other entity as a result of, or in exchange for, any work or services performed, or any intellectual property conveyed by ExecutiveXxxxxx, during the Restricted Period (“Remuneration”), provided that the foregoing provision shall in no way limit or impair Executive’s Xxxxxx’x obligations or the Bank’s rights under Article 3 or Article 4 of this Agreement. Executive Xxxxxx understands and agrees that the Bank’s set-off rights will accrue, and any set-off pursuant to this provision will be applied to any non-compete payments due (or previously paid or accrued), after the earlier of Executive’s Xxxxxx’x receipt or accrual of Remuneration (the Set-off Date), and if Executive Xxxxxx is not entitled to further payments under this Agreement, Executive Xxxxxx agrees to refund the setoff amount in full to the Bank within fourteen (14 days) of Executive’s Xxxxxx’x Certification reporting such remuneration or the Set-off Date, whichever is later.