Common use of SOURCE OF PAYMENTS Clause in Contracts

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the Institution.

Appears in 5 contracts

Samples: Employment Agreement (Legacy Bancorp, Inc.), Employment Agreement (Legacy Bancorp, Inc.), Employment Agreement (Legacy Bancorp, Inc.)

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SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company or subject to Section 11(b12(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 Executive under the Employment Agreement dated , 2005, an employment agreement in effect between Executive and the InstitutionBank, such compensation payments and benefits paid by the Institution Bank will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement Bank agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionBank.

Appears in 5 contracts

Samples: Employment Agreement (Citizens First Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under an the Employment Agreement dated , 2005, employment agreement in effect between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 3 contracts

Samples: Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated December 23, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 3 contracts

Samples: Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Virginia Capital Bancshares Inc), Employment Agreement (Virginia Capital Bancshares Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(b12(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 Executive under the Employment Agreement dated February 1, 20052000, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 3 contracts

Samples: Employment Agreement (Pulaski Financial Corp), Employment Agreement (Pulaski Financial Corp), Employment Agreement (Pulaski Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005, an employment agreement in effect between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 3 contracts

Samples: Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp), Employment Agreement (Richmond County Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005of even date herewith, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 3 contracts

Samples: Employment Agreement (Southbanc Shares Inc), Employment Agreement (Southbanc Shares Inc), Employment Agreement (Southbanc Shares Inc)

SOURCE OF PAYMENTS. (a) All payments provided for in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(b12(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 Executive under the Employment Agreement dated , 2005, in effect between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the Institution.

Appears in 3 contracts

Samples: Employment Agreement (Woronoco Bancorp Inc), Employment Agreement (Woronoco Bancorp Inc), Employment Agreement (Woronoco Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated __________, 2005199_, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 3 contracts

Samples: Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Woronoco Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(b5(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 Executive under the Employment Agreement dated , 2005______________, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Change in Control Agreement (Wayne Bancorp Inc /De/), Change in Control Agreement (Wayne Bancorp Inc /De/)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated December 22, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Massachusetts Fincorp Inc), Employment Agreement (Massachusetts Fincorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated _____________, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (First Place Financial Corp /De/), Employment Agreement (First Place Financial Corp /De/)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005dated, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Firstfed America Bancorp Inc), Employment Agreement (Firstfed America Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated February 12, 20051999, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (South Jersey Financial Corp Inc), Employment Agreement (South Jersey Financial Corp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated January 31, 20051997, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Firstfed America Bancorp Inc), Employment Agreement (Firstfed America Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005as of _________________, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Efc Bancorp Inc), Employment Agreement (Richmond Country Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated ___________, 2005199__, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Security of Pennsylvania Financial Corp), Employment Agreement (Grand Central Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section Subsection 11(b)) of this Agreement. (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 Executive under the Employment Agreement dated June 29, 20052000, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Dutchfork Bancshares Inc), Employment Agreement (Dutchfork Bancshares Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated December 30, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (Grand Central Financial Corp), Employment Agreement (Security of Pennsylvania Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated ___________, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (First Source Bancorp Inc), Employment Agreement (First Source Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated December 31, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity services rendered and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (First Place Financial Corp /De/), Employment Agreement (First Place Financial Corp /De/)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated dated_______________, 2005199__, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 2 contracts

Samples: Employment Agreement (South Jersey Financial Corp Inc), Employment Agreement (Virginia Capital Bancshares Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(b)) of this Agreement. (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 Executive under the Employment Agreement dated , 2005, an employment agreement in effect between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Firstspartan Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated May 25, 2005, between Executive and the InstitutionInstitution (the “Institution Agreement”), such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (PFF Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(b)) of this Agreement. (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 Executive under the Employment Agreement dated , 2005, in effect between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Bay State Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated March 1, 20051995, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the Institution.Institution on a quarterly basis. #27938/February 10, 1995 8

Appears in 1 contract

Samples: Employment Agreement (Monterey Bay Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Amended and Restated Employment Agreement dated , 20052008, between Executive and the InstitutionInstitution (the “Institution Agreement”), such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Oceanfirst Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated , 2005____________, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Wayne Bancorp Inc /De/)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated June 30, 2005, 1998 between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Florida Savings Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(b11.(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 Executive under the Employment Agreement dated , 2005as of ______________, between Executive and the InstitutionInstitution (the "Institution Agreement"), such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Cgb&l Financial Group Inc)

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SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated July 31, 20051997, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Firstfed America Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005____________________, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Lawrence Financial Holdings Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated ___________, 20051999, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Security Financial Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated December 28, 20052000, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Lawrence Financial Holdings Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated March 23, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Ga Financial Inc/Pa)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated September 3, 20051996, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Lenox Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated February 13, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Bay State Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated , 2005________________, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Dutchfork Bancshares Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated March 19, 20051999, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the Institution.

Appears in 1 contract

Samples: Employment Agreement (Woronoco Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated March 31, 20051998, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Northeast Pennsylvania Financial Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated dated_______________, 20051997, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Bay State Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Amended and Restated Employment Agreement dated , 2005, between Executive and the InstitutionInstitution (the “Institution Agreement”), such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (PFF Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated July 2, 20051996, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Bayonne Bancshares Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(b12(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 Executive under the Employment Agreement dated , 2005---------------- 1997, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Hf Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(b12(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 Executive under the Employment Agreement dated July 24, 20051997, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Hf Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated January 5, 20052000, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Security Financial Bancorp Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(b)) of this Agreement. (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 Executive under the Employment Agreement dated , 2005of even date herewith, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Southbanc Shares Inc)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to Section 11(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 Executive under the Employment Agreement dated February 28, 20052003, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Central Federal Corp)

SOURCE OF PAYMENTS. (a) All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Holding Company subject to this Section 11(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 Executive under the Employment Agreement dated ___________, 20051997, between Executive and the Institution, such compensation payments and benefits paid by the Institution will be subtracted from any amount due simultaneously to Executive under similar provisions of this Agreement. Payments pursuant to this Agreement and the Institution Agreement shall be allocated in proportion to the level of activity and the time expended on such activities by the Executive as determined by the Holding Company and the InstitutionInstitution on a quarterly basis.

Appears in 1 contract

Samples: Employment Agreement (Northeast Pennsylvania Financial Corp)

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