Common use of Payments During or After the Restricted Period Clause in Contracts

Payments During or After the Restricted Period. The Company shall pay the Executive the greater of (i) the Executive’s current or future monthly base salary or (ii) $10,000 per month for each full or partial month of the Restricted Period or such longer time as shall be provided herein. To the extent that Executive’s current or future monthly base salary, or the amount of any compensation paid monthly to the Executive for consulting services (“other compensation”), equals or exceeds $10,000 per month, then the Company or the Bank shall not be required to make any payment under this Agreement. If the base salary or other compensation is ever less than $10,000 per month, then the Company or the Bank shall pay the Executive, in addition to the base salary or other compensation, the difference between the base salary and $10,000 per month. If the Expiration Date is extended by the Company as provided in paragraph 7, then the payments shall continue for the entire Restricted Period, as so extended.