Common use of SOURCE OF PAYMENTS; NO DUPLICATION OF PAYMENTS Clause in Contracts

SOURCE OF PAYMENTS; NO DUPLICATION OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Company subject to Section 13(b). (b) Notwithstanding any provision herein to the contrary, to the extent that payments and benefits, as provided by this Agreement, are paid to or received by the Executive under the Bank Employment Agreement, such compensation payments and benefits paid by the Bank will be subtracted from any amount due simultaneously to the Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Bank Employment Agreement (other than severance and change in control payments and benefits pursuant to Sections 9 and 11 hereof) shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Company and the Bank on a quarterly basis.