Exhibit 10.16


 


Compensatory Arrangements of Executive
Officers and Directors for 2009


 


Messrs. Featherman, Quinn and Deitch and Ms. Smith are
employed by the Corporation and the Bank pursuant to employment agreements
included as exhibits to this Annual Report on Form 10-K.  Each of our other executive officers is
employed on an at will basis.  The
compensation to be paid in 2009 to the Corporation’s CEO, President, CFO,
Executive Vice Presidents who were Named Executive Officers in our last filed
proxy statement and key individuals of the American Home Bank division of the
Bank (the “AHB Division”) will be based upon the annual salaries as set forth
in the chart below.  The 2009 salaries
indicated below reflect no increases over 2008 salaries.


 


	
  Executive Officer

  	
   

  	
  2009 Salary

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  John A. Featherman, III, CEO and
  Chairman of the Corporation and the Bank

  	
   

  	
  $

  	
  364,109

  	
   

  
	
  Kevin C. Quinn, President of the
  Corporation and the Bank

  	
   

  	
  $

  	
  275,734

  	
   

  
	
  John E. Balzarini, CFO of the Corporation
  and the Bank

  	
   

  	
  $

  	
  205,363

  	
   

  
	
  James M. Deitch, Managing Director of the
  AHB Division

  	
   

  	
  $

  	
  203,000

  	
   

  
	
  Clay T. Henry, Executive Vice President of
  the Wealth Management Division of the Bank

  	
   

  	
  $

  	
  196,267

  	
   

  
	
  Anna Ruth Smith, President of the AHB
  Division

  	
   

  	
  $

  	
  195,000

  	
   

  



 


Messrs. Featherman, Quinn and Deitch and Ms. Smith receive
benefits as described in their respective Employment Agreements.  Each of the other listed officers receives
the Bank’s standard benefits package and is paid a car allowance or provided
with an automobile leased by the Bank.  Each
of the other listed officers is a party to a separate agreement with the Bank
that provides certain benefits upon a change of control and, in the case of Mr. Henry,
termination of service for certain other events.  Each of these agreements is included as an
exhibit to this Annual Report on Form 10-K.  In addition, each of the listed executive
officers may be eligible to receive incentive compensation pursuant to the
Executive Incentive Plan, as amended (filed as Exhibits 10.30 and 10.31 to this
Report), however, no executive incentive compensation was paid to these
individuals in 2008, and no executive incentive plan has been adopted for 2009
at this time.


 


In 2009, directors who are not also officers of the Corporation or Bank
(each a “non-employee director”) will receive a fee of $750 for each
Corporation or Bank board meeting attended and $400 for each committee meeting
attended.  Each non-employee director
will also receive a $1,000 monthly retainer. 
Additionally, a quarterly fee of $250 will be paid to Mr. DeBaptiste
for serving as Second Vice Chair of the Board, a quarterly fee of $250 will be
paid to Mr. Waldron for serving as the Secretary of the Board, a quarterly
fee of $750 will be paid to Mr. Clarke for serving as the Chairman of the
Audit Committee.  Other Committee
Chairmen will be paid a quarterly fee of $250 for such service.  The non-employee directors receive a $1,000
fee for attending a training seminar.