tib8k092707ex10_1.htm


    
      

      

    

    Exhibit
      10.1

     

    AMENDMENT
      TO THE

    EMPLOYMENT
      AGREEMENT

    FOR
      ALMA SHUCKHART

    


    


    THIS
      AMENDMENT executed on
      this       
 27th      day
      of         
September            ,
      2007 by and between the TIB Financial Corp. (the “Holding Company”), TIB Bank
      (the “Bank”), and Alma Shuckhart (the “Executive”).

    


    On  March
      1, 2004, the Company and Executive executed the EMPLOYMENT AGREEMENT by and
      between TIB Financial Corp. (the “Holding Company”), TIB Bank of the Keys (the
“Bank”), and Alma Shuckhart (the “Executive”).

    


    The
      undersigned hereby amends, in part,
      said Agreement for the purpose of changing the Position and Duties; Records,
      Term, and Compensation sections of the Agreement.

    


     Section
      2 of the
      Agreement shall be amended to reflect as follows:

    2.  Position
      and Duties; Records.  During the term of
      this Agreement, the Executive shall serve as Senior Executive Vice President
      & President of the Southwest Florida Market of the Bank, and shall undertake
      such duties, consistent with such titles, as may be assigned to him from time
      to
      time by the President and Chief Executive Officer of the Bank or Holding Company
      and/or Boards of Directors of the Holding Company and the Bank (collectively
      referred to as the “Board”), including serving on Board committees as appointed
      from time to time by the Board, and assisting in keeping the Company in
      compliance with applicable laws and regulations.  In performing his
      duties pursuant to this Agreement, the Executive shall devote his full business
      time, energy, skill and best efforts to promote the Company and its business
      and
      affairs; provided that, subject to Sections 10, 12 and 13 of this Agreement,
      the
      Executive shall have the right to manage and pursue personal and family
      interests, and make passive investments in securities, real estate, and other
      assets, and also to participate in charitable and community activities and
      organizations, so long as such activities do not adversely affect the
      performance by Executive of his duties and obligations to the
      Company.  Upon termination of the Executive’s employment for any
      reason, he shall resign as a director of the Holding Company and the Bank (if
      he
      is then serving in such capacity).  All files, records, documents,
      manuals, books, forms, reports, memoranda, studies, data, calculations,
      recordings or correspondence, in whatever form they may exist, and all copies,
      abstracts and summaries of the foregoing, and all physical items related to
      the
      business of the Company, its affiliates and their respective directors and
      officers, whether of a public nature or not, and whether prepared by Executive
      or not, are and shall remain the exclusive property of the Company, and shall
      not be removed from their premises, except as required in the course of
      providing the services pursuant to this Agreement, without the prior written
      consent of the Company.  Such items shall be promptly returned by the
      Executive on the termination of this Agreement or at any earlier time upon
      the
      request of the Company.

    .

    


    Section
      3 of the Agreement shall be
      amended to reflect a follows:

    


    3.  Term:  The
      initial
      term of employment pursuant to this Agreement shall be for a period of three
      years, commencing with the date set forth in Section 1 and expiring (unless
      sooner terminated as otherwise provided in this Agreement or unless otherwise
      renewed or extended as set forth herein) on the third anniversary of this
      Agreement, which date, including any earlier date of termination or any extended
      expiration date, shall be referred to as the “Expiration
      Date”.  Subject to the provisions of Section 8 of this Agreement, the
      term of this Agreement and the employment of the Executive by the Company
      hereunder shall be deemed automatically renewed for successive periods of two
      years each on each anniversary date of this Agreement, until the Executive
      receives written notice that the term of this Agreement will not be
      automatically renewed.  In the event of the Executive’s receipt of
      such notice from the Company that the term of this Agreement will not be
      renewed, the term of this Agreement shall end on the anniversary of this
      Agreement occurring two years after the anniversary date first occurring after
      the date such notice is given.  As an illustration of the foregoing,
      if such notice were given by the Company to the Executive on a date in 2005
      before the anniversary date of this Agreement, then the term of this Agreement
      would end on the anniversary date of this Agreement in 2007.  If
      notice were given by the Company to the Executive on a date in 2005 after the
      first anniversary date of this Agreement, then the term of this Agreement would
      end on the anniversary date in 2008. After termination of the employment of
      the
      Executive for any reason whatsoever, the Executive shall continue to be subject
      to the provisions of Sections 10 through 17, inclusive, of this Agreement;
      provided, however, that the Executive shall not be subject to the provisions
      of
      Section 12 where the employment of the Executive is terminated pursuant to
      Section 8(e), or where the term of employment is not renewed pursuant to this
      Section 3.

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    Section
      4 of the Agreement shall be amended to reflect a
      follows:

     

              4. 
      Compensation:  4 (a).  A base annual base salary of
      $210,000.00 as of the date of amendment, such annual salary to be subject to
      increase thereafter as the Board in its discretion shall
      determine.  The foregoing salary shall be payable in such periodic
      installments consistent with other employees of the Bank.

     

     

     

     

     

    
      	
              TIB
                FINANCIAL CORP.

            	 	
              TIB
                BANK OF THE KEYS

               

            
	
              By: 
                

            	
               /s/
                Edward V. Lett

            	 	
              By: 
                

            	
               /s/
                Michael Carrigan

            
	 	
              Edward
                V. Lett

              President
                and Chief Executive Officer

            	 	 	
              Michael
                Carrigan

              President
                and Chief Executive Officer

            
	 	 	 	 	
               

               

            
	 	 	 	 	
              “EXECUTIVE”

               

            
	 	 	 	 	
               /s/
                Alma Shuckhart

            
	 	 	 	 	
              Alma
                Shuckhart, individually

               

            
	 	 	
              Address: