EXHIBIT 10.7
EMPLOYMENT AGREEMENT DATED JANUARY 2, 2001
BY AND BETWEEN NATIONAL BANK OF COMMERCE
AND
XXXXXXX X. XXXXXX
This Agreement made and entered into this the 2nd day of
January, 2001, by and between the National Bank of Commerce, a
wholly owned subsidiary of NBC Capital Corporation, hereinafter
"Bank" and Xxxxxxx X. Xxxxxx, hereinafter "Executive."
WITNESSETH
WHEREAS the Executive is desirous of having security in his
employment and protection against the exigencies of circumstance
in the event the Bank should undergo a change of control, as
hereinafter defined; and
WHEREAS the Bank is desirous of obtaining the continued,
effective management and executive duties of the Executive without
which the Bank could not continue to operate as effectively and
profitably;
NOW, therefore, in consideration of the mutual purposes and
promises hereinafter contained, these parties agree and covenant
unto each other as follows, to-wit:
1. This contract shall become effective January 2,2001 and
expire December 31, 2005.
2. The Executive commits to continue in the employment of the
Bank.
3. In the event of a change of control (defined as the
transfer, sale or exchange of 50% or more of the capital
stock of NBC Capital Corporation), during the term of this
agreement, the Bank shall pay to the Executive, a lump sum
cash amount equal to two times the annual salary he is
receiving when such change of control occurs, less
applicable taxes and withholding.
4. This Agreement shall be binding upon the Bank.
IN WITNESS HEREOF, these parties have executed this
Agreement, in duplicate, on the date above written.
NATIONAL BANK OF COMMERCE
/S/ X. X. XXXXXXX, XX.
By: ___________________________
CHAIRMAN OF THE BOARD
/S/ Xxxxx Xxxxxx
Attest: ________________________
EXECUTIVE
/S/ XXXXXXX X. XXXXXX
By: ___________________________
EXHIBIT 10.8
EMPLOYMENT AGREEMENT DATED JANUARY 2, 2001
BY AND BETWEEN NATIONAL BANK OF COMMERCE
AND
XXXX X. XXXXXXXXX
This Agreement made and entered into this the 2nd day of
January, 2001, by and between the National Bank of Commerce, a
wholly owned subsidiary of NBC Capital Corporation, hereinafter
"Bank" and Xxxx X. Xxxxxxxxx, hereinafter "Executive."
WITNESSETH
WHEREAS the Executive is desirous of having security in his
employment and protection against the exigencies of circumstance
in the event the Bank should undergo a change of control, as
hereinafter defined; and
WHEREAS the Bank is desirous of obtaining the continued,
effective management and executive duties of the Executive without
which the Bank could not continue to operate as effectively and
profitably;
NOW, therefore, in consideration of the mutual purposes and
promises hereinafter contained, these parties agree and covenant
unto each other as follows, to-wit:
1. This contract shall become effective January 2, 2001 and
expire December 31, 2005.
2. The Executive commits to continue in the employment of the
Bank.
3. In the event of a change of control (defined as the
transfer, sale or exchange of 50% or more of the capital
stock of NBC Capital Corporation), during the term of this
agreement, the Bank shall pay to the Executive, a lump sum
cash amount equal to two times the annual salary he is
receiving when such change of control occurs, less
applicable taxes and withholding.
4. This Agreement shall be binding upon the Bank.
IN WITNESS HEREOF, these parties have executed this
Agreement, in duplicate, on the date above written.
NATIONAL BANK OF COMMERCE
/S/ X. X. XXXXXXX, XX.
By: ___________________________
CHAIRMAN OF THE BOARD
/S/ XXXXX XXXXXX
Attest: ________________________
EXECUTIVE
/S/ XXXX X XXXXXXXXX
By: ___________________________
