|
|
|
|
Document Preview Employment Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Employment Agreement |
|||
|
Entities: |
||||
|
Date: |
2002 |
|||
|
Size: |
Preview shows 7KB of 37KB total |
|||
|
Price: |
$43 |
|||
|
ID: |
#1541591 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
EMPLOYMENT AGREEMENT
THIS AGREEMENT is effective as of the 2nd day of January 2002, by and
between NICOLET NATIONAL BANK (the "Bank"), and W. SCOTT KING, a resident of the
State of Wisconsin (the "Executive").
RECITALS:
The Bank desires to employ the Executive as Senior Vice President;
Commercial Lender of the Bank and the Executive desires to accept such
employment.
In consideration of the above premises and the mutual agreements
hereinafter set forth, the parties hereby agree as follows:
1. DEFINITIONS. Whenever used in this Agreement, the following terms and
-----------
their variant forms shall have the meaning set forth below:
1.1 "AGREEMENT" shall mean this Agreement and any exhibits incorporated
---------
herein together with any amendments hereto made in the manner described in this
Agreement.
1.2 "AREA" shall mean the geographic area within the boundaries of
----
northeastern Wisconsin. It is the express intent of the parties that the Area
as defined herein is the area where the Executive performs or performed services
on behalf of the Bank under this Agreement as of, or within a reasonable time
prior to, the termination of the Executive's employment hereunder.
1.3 "BANK INFORMATION" means Confidential Information and Trade Secrets.
-----------------
1.4 "BUSINESS OF THE BANK" shall mean the business conducted by the
-----------------------
Bank, which is the business of commercial banking.
1.5 "CAUSE" shall mean:
-----
1.5.1 With respect to termination by the Bank:
(a) A material breach of the terms of this Agreement by the
Executive, including, without limitation, failure by the Executive to
perform his duties and responsibilities in the manner and to the
extent required under this Agreement, which remains uncured after the
expiration of thirty (30) days following the delivery of written
notice of such breach to the Executive by Bank.
(b) Conduct by the Executive that amounts to fraud,
dishonesty or willful misconduct in the performance of his duties and
responsibilities hereunder;
<PAGE>
(c) A conviction of a crime that is substantially related to
the Executive's duties and responsibilities with the Bank (e.g., an
act of dishonesty, fraud, theft, etc.); the Bank also retains the
right to suspend the Executive without pay in the event of an arrest
while the Bank investigates the circumstances of the arrest so as to
determine whether the arrest is substantially related to the
Executive's position with the Bank.
(d) Conduct by the Executive that amounts to gross and
willful insubordination or inattention to his duties and
responsibilities hereunder; or
(e) Conduct by the Executive that results in removal from his
position as an officer or executive of Bank pursuant to a written
order by any regulatory agency with authority or jurisdiction over
Bank.
1.5.2 With respect to termination by the Executive:
(a) A material modification to the Executive's job title(s) or
position(s) of responsibility or the scope of his authority or
responsibilities under this Agreement without the Executive's written
consent, which modification is not cured to the reasonable
satisfaction of the Executive within thirty (30) days after written
notice thereof from the Executive to the Executive Vice
President/Senior Lending Officer and/or President/CEO of the Bank;
(b) Following a Change of Control, a change in supervision so
that the Executive no longer reports to the person(s) or entity to
whom he reported immediately prior to the Change of Control, which
change in supervision is effected without the Executive's written
consent;
(c) Following a Change of Control, a change in supervisory
authority so that the holder of any position who normally reported to
the Executive immediately prior to the Change of Control no longer
reports to the Executive on a regular basis, which change in
supervisory authority is effected without the Executive's written
consent;
(d) Following a Change of Control, any change in the Executive's
office location such that the Executive is required to report
regularly to a location that is beyond a 25-mile radius from the
Executive's office location immediately prior to the Change of
Control, which change in office location is effected without the
Executive's written consent; and
(e) Following a Change of Control, any material reduction in
salary, bonus opportunity or other benefits provided for in Section 4
below from the level in effect immediately prior to the Change of
Control.
2
<PAGE>
1.6 "CHANGE OF CONTROL" means any one of the following events:
-------------------
(a) The acquisition by any person or persons acting in
concert of the then outstanding voting securities of either the Bank,
if, after the transaction, the acquiring person (or persons) owns,
|
End of Preview |
Home Intelligence Services Subscriptions News About Us