EXHIBIT 10.5
SEVERANCE, EMPLOYMENT AND RETENTION AGREEMENTS
Exhibit 10.5 includes the severance, employment and retention
Agreements for executive officers.
The employment contract of Xxxxx X. Xxxxxxxxxx, Chairman, President and
Chief Executive Officer of Star Banc Corporation and Star Bank, N.A. was
previously filed as an exhibit to the registrant's Annual Report on Form
10K for the year ended December 31, 1996, and is incorporated herein by
reference.
THREE (3) YEAR SEVERANCE AGREEMENT:
Previously filed as an exhibit to the registrant's Annual Report on
Form 10K for the year ended December 31, 1996, and is incorporated
herein by reference.
Three year severance agreements cover the following executive officers:
Xxxxx X. Xxxxxxx, Executive Vice President and Chief Financial Officer,
Star Banc Corporation and Star Bank, N.A.
Xxxxxxx X. Xxxxx, Executive Vice President, Star Banc Corporation and
Star Bank, N.A.
Xxxxxx X. Xxxxxxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
## Xxxxxx X. Xxxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
## The three year agreement for Xxxxxx X. Xxxxxxx was added in 1995 and
included the same provisions as the previously filed three year agreement
with the exception of the elimination of sections 2.4 and 2.5, which
provided for additional years of service and coverage for pension and
medical benefits.
EXHIBIT 10.5(cont.)
TWO (2) YEAR EXECUTIVE SEVERANCE AGREEMENT:
-1 year protection period
-30 day walkaway rights
-Severance payment: two (2) times highest salary + highest bonus
-2 year continuation of medical coverage
-Pension coverage includes additional 2 years of service
-No 280G limitation
-Additional gross-up provision for any excise tax owed.
-Term of Agreement: Initial 3 year term and renewal on each anniversary
Two year severance agreements were amended and previously filed as an
exhibit to the the regristrant's Annual Report on Form 10K for the year
ended December 31, 1996 and is incorporated herein by reference.
The two year severance agreements cover the following executive officers:
Xxxxxx X. Xxxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
Xxxxxxx X. Xxxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
S. Xxx Xxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
Xxxxxx X. Xxxxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
Xxxxxx X. Xxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
Xxxxxx X. Xxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
Xxxxx X. Xxxxxxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
Xxxxxxx X. Xxxxx, Executive Vice President, Star Banc Corporation
and Star Bank, N.A.
EXHIBIT 10.5(cont.)
EXECUTIVE RETENTION AGREEMENT
The executive retention agreement was previously filed as an exhibit
To the regristrant's Annual Report on Form 10K for the year ended
December 31, 1994 and is incorporated herein by reference.
This agreement covers the following executive officers of the Corporation
for the amounts indicated:
Xxxxx X. Xxxxxxx, $350,000
Executive Vice President and Chief Financial Officer
Xxxxxxx X. Xxxxx, $350,000
Executive Vice President
Xxxxxx X. Xxxxxxx, $250,000
Executive Vice President
Xxxxxx X. Xxxxxxxx, $250,000
Executive Vice President
Xxxxxx X. Xxxxxxxxxx $200,000
Executive Vice President
Xxxxx X. Xxxxxxxxx, $200,000
Executive Vice President
Xxxxxxx X. Xxxxx, $200,000
Executive Vice President
