RECITALSSeverance Agreement • February 13th, 2004 • Franklin Bank Corp • Savings institutions, not federally chartered • Texas
EXHIBIT 10.12 December 23, 2003 Mr. Russell McCann 9800 Richmond Avenue Suite 680 Houston, Texas 77042 Dear Russell: This letter shall serve as a conditional offer of employment to you by Franklin Bank S.S.B ("Franklin") and Franklin Bank Corp. This...Employment Agreement • February 13th, 2004 • Franklin Bank Corp • Savings institutions, not federally chartered
This letter shall serve as a conditional offer of employment to you by Franklin Bank S.S.B ("Franklin") and Franklin Bank Corp. This offer is conditional upon the happening of the initial public offering of Franklin Bank Corp (the "IPO"). Thus, if you accept this offer and the IPO occurs, this letter agreement will take effect and supersede the prior letter agreement between you and by Franklin setting forth certain terms of your employment. If the IPO does not occur, this letter will be null and void and of no force and effect.
