2. COMPENSATION. As compensation for the performance of the services specified in Paragraph (1) and the observance of all of the provisions of this Agreement, the Bank agrees to pay Employee, and Employee agrees to accept, the following amounts and benefits during his term of employment:
(A) Salary at a rate to be determined by the Board of Directors of the Bank, with notice to be given to employee in May of each calendar year, but in no event shall Employees salary be less than Five Hundred Thousand Dollars ($500,000.00) per year, plus any increases granted by the Board of Directors after the date hereof, and payable in equal biweekly installments;
(B) Such other miscellaneous benefits and perquisites as the Bank provides to its executive employees generally; and
(C) Continuation of his current supplemental executive retirement benefit contracts during the term of this agreement in accordance with their current terms and conditions including, without limitation, that certain Salary Continuation Plan Agreement dated January 3, 2006, as amended, that certain Salary Continuation Plan Agreement (2010 Plan) dated June 7, 2010, as amended, that certain Salary Continuation Plan Agreement (2012-A Plan) dated October 1, 2012, as amended, that certain Salary Continuation Plan Agreement (2012-B Plan) dated October 1, 2012, as amended and that certain Supplemental Executive Retirement Plan dated May 7, 2018, as amended.
3. ACCEPTANCE OF EMPLOYMENT. Employee accepts the employment provided for herein, at the salary set forth above, and agrees to devote his talents and best efforts to the diligent, faithful, and efficient discharge of the duties of his employment, and in furtherance of the operations and best interests of the Bank, and observe and abide by all rules and regulations promulgated by the Bank for the guidance and direction of its employees and the conduct of its business, operations, and activities.