President and Chief Financial Officer. For the limited purposes of acknowledging its consent to LPB and LPSB entering into this Agreement and those certain other benefits to inure to them under this Agreement and the Release: By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxxx Its: Chairman and Chief Executive Officer Its: Chairman and Chief Executive Officer FOR VALUABLE CONSIDERATION, including the payment to XXX X. XXXXX (the “Executive”) of certain amounts and benefits, the Executive hereby executes this Release Agreement (“Agreement”) in favor of LAPORTE BANCORP, INC., a Maryland corporation (“LPB”), XXXXXXX SAVINGS BANK, an Indiana state chartered savings bank (“LPSB”), HORIZON BANCORP (“Horizon”), HORIZON BANK, N.A. (“Horizon Bank”) and each such entities’ successors, assigns (including all subsidiaries and affiliates), employees, officers, insurers, trustees, shareholders, agents, directors, owners, and attorneys (collectively the “Released Parties”) as set forth herein.
President and Chief Financial Officer. 3 To be added only if the consents of Administrative Agent is required by the terms of the Credit Agreement.
President and Chief Financial Officer. The Executive shall report directly to the Company’s Chief Operating Officer (or, if no Chief Operating Officer is then serving, to the Company’s principal executive officer). The Executive shall have such duties, authority and responsibilities that are commensurate with his being a senior executive officer of the Company. During his Employment, the Executive shall devote substantially his full business efforts and time to the Company and, so long as such activities do not interfere with the performance of his responsibilities to the Company under this Agreement, the Executive may engage in civic and charitable activities and serve on the boards of directors (or managers or trustees) of civic or charitable organizations and, subject to the consent of the Board, may serve on the board of directors of corporations or other businesses. The Executive’s primary work place shall be at the Company’s corporate headquarters in Seattle, Washington.
President and Chief Financial Officer. Cyrus X. Xxxxx is the ------------------------------------- President, Chief Executive Officer and a director of Purchaser and Xxxxx X. Xxxxx is the Vice President, Finance and Administration, and Chief Financial Officer of Purchaser.
President and Chief Financial Officer. It is expressly understood that Purchase Pro intends to grant to Employee a special bonus at the completion of its Initial Public Offering, in an amount to be determined by the Board of Directors, Chief Executive Officer, President and Chief Financial Officer. Employee shall be entitled to participate with other employees of Purchase Pro in Purchase Pro's medical and dental coverage plan provided under the Purchase Pro Health Care Plan (the "Plan"). Purchase Pro agrees to pay for Employee and his dependents cost to participate in the Plan. Employee shall be entitled to a paid annual vacation of two (2) weeks. Without Purchase Pro's consent, vacation time may not be accumulated but must be taken in the year earned. Employee's vacation will be scheduled at those times convenient to Purchase Pro's business as determined by the Board of Directors, Chief Executive Officer, President or Chief Financial Officer. Employee shall be entitled to holidays and reasonable sick leave as provide for in the Purchase Pro Employee Handbook.
President and Chief Financial Officer. It is the intention of the Parties to vest full authority to control all accounting and financial reporting operations of the Company with Executive, subject to the oversight of the Company's Chief Executive Officer ("CEO") and Board of Directors of the Company (the "Company Board"). Executive hereby accepts the Employment and agrees to: (i) render such executive services; (ii) perform such executive duties; and (iii) exercise such executive supervision and powers to, for and with respect to the Company for the period and upon the terms set forth in this Agreement.
President and Chief Financial Officer. While employed hereunder, Executive shall obey the lawful directions of the Board of Directors of Employer, or any duly authorized committee thereof, and shall use his best efforts to promote the interests of Employer and to maintain and to promote the reputation thereof. While employed hereunder, Executive shall devote his/her time, efforts, skills and attention to the affairs of Employer in order that he/she shall faithfully perform his/her duties and obligations hereunder and such as may be assigned to or vested in him/her by the Board of Directors of Employer, or any duly authorized committee thereof.
President and Chief Financial Officer. The Chief Financial Officer is accountable for the administrative, financial, and risk management operations of the Corporation. He will have primary responsibility for planning, implementing, managing and controlling all financial-related activities including the development of financial and operational strategies.
President and Chief Financial Officer. The Executive agrees to devote his time and attention on a full-time basis to the discharge of such duties and responsibilities of an executive nature as may be assigned him by the Board of Directors of the Company. The Executive may accept any elective or appointed positions or offices with any duly recognized associations or organizations whose activities or purposes are closely related to the banking business or service to which would generate good will for the Company and its subsidiaries.
President and Chief Financial Officer. The Executive shall perform faithfully and loyally and to the best of his abilities the duties assigned to him hereunder, shall devote his full business time, attention and effort to the affairs of the Company and shall use his reasonable best efforts to promote the interests of the Company. The Executive shall report to such executive officer of the Company as shall be designated from time to time by the Chief Executive Officer of the Company (the "CEO") or the Board of Directors of the Company (the "Board"). Notwithstanding the foregoing, the Executive may engage in charitable, civic or community activities and, with the prior approval of the CEO or the Board, may serve as a director of any business corporation, provided that such activities or service does not interfere with his duties hereunder or violate the terms of any of the covenants contained in Section 10 or 11.
