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Document Preview Executive Severance Agreement |
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Title: |
Executive Severance Agreement |
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Entities: |
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Date: |
2000 |
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Price: |
$34 |
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ID: |
#370753 |
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EXECUTIVE SEVERANCE AGREEMENT
This Agreement is made and entered into by and between PUYALLUP VALLEY
BANK, a Washington banking corporation, (hereinafter called "Bank") and Roy
Thompson (hereinafter called the ("Executive").
WHEREAS, Executive was recently employed by the Bank in a key managerial
capacity, presently holding the position(s) of Senior Vice President and Loan
Administrator of the Bank; and,
WHEREAS, the Bank wishes to ensure that the Executive will be available to
assist the Board of Directors of the Bank in evaluating and responding to, and
if deemed appropriate by the Board, completing any actual or threatened change
in control of the Bank; and,
WHEREAS, the Bank wishes to provide additional comfort to both itself and
the Executive as to continuity of management in the event of any actual or
threatened change in control of the Bank;
NOW, THEREFORE, the Bank and the Executive agree to the following
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