EMPLOYMENT AGREEMENTEmployment Agreement • March 8th, 2011 • St Joe Co • Land subdividers & developers (no cemeteries) • Florida
THIS AGREEMENT (the “Agreement”) is entered into as of March 7, 2011 (the “Effective Date”), by and between Park Brady (the “Executive”) and The St. Joe Company, a Florida corporation (the “Company”).
The St. Joe Company 133 South WaterSound Parkway, WaterSound, Florida 32413 March 4, 2011 Hugh M. Durden Chairman Alfred I. duPont Testamentary Trust 510 Alfred duPont Place Jacksonville, FL 32202 Dear Hugh:Interim Ceo Agreement • March 8th, 2011 • St Joe Co • Land subdividers & developers (no cemeteries)
This letter agreement confirms that you are empowered to act, solely in your capacity as a director of The St. Joe Company (the “Company”) and as a member of the Executive Committee of the Board of Directors of the Company (the “Board”) and not as an employee or officer of the Company, as the interim Chief Executive Officer of the Company (“Interim CEO”) for a period of 60 days from the date hereof, or such earlier date as the Board may determine in its sole discretion. As Interim CEO, you will exercise the authority and perform the duties of the Chief Executive Officer of the Company reporting to and under the direction of the Executive Committee of the Board. While you are Interim CEO, the Company will continue its search for a permanent Chief Executive Officer.
