Form of Letter Agreement
Exhibit
10.3
Form
of Letter Agreement
000 Xxxxx
Xxxxxx X., Xxxxx 000
Xxxxxx,
XX 00000
Gentlemen:
I
understand that TIB Financial Corp. (the “Company”) intends to apply under the
provisions of the United States Department of the Treasury’s (the “Treasury”)
Capital Purchase Program under the Emergency Economic Stabilization Act of 2008
(“EESA”). In consideration for the benefits that I will receive as a result of
the Company’s participation in the Capital Purchase Program, I hereby agree that
each compensation, bonus, incentive and other benefit plan, arrangement and
agreement (including golden parachute, severance and employment agreements)
between the Company and/or any of its subsidiaries and me is hereby amended for
the period that the Treasury owns any debt or equity securities of the Company
acquired pursuant to the Securities Purchase Agreement between the Treasury and
the Company or the stock purchase warrant issued pursuant to the Agreement, in
order to comply with Section 111(b) of EESA as implemented by guidance or
regulation thereunder.
Sincerely,
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By:
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Signature
of Executive Officer
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| Name of Executive Officer | |
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Date:
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___________________, 2008 |
