DOCUMENT SHALL NOT APPLY
TO THIS AGREEMENT.
19.
PARTIES IN INTEREST.
THIS AGREEMENT SHALL BIND, BENEFIT, AND BE
ENFORCEABLE BY PARTIES AND THEIR RESPECTIVE SUCCESSORS, LEGAL REPRESENTATIVES,
PERMITTED ASSIGNS, HEIRS, EXECUTORS, ADMINISTRATORS AND PERSONAL
REPRESENTATIVES.
20.
SECTION HEADINGS; REFERENCES.
SECTION AND SUBSECTION HEADINGS IN
THIS AGREEMENT ARE FOR CONVENIENCE OF REFERENCE ONLY, AND SHALL NEITHER
CONSTITUTE A PART OF THIS AGREEMENT NOR AFFECT ITS INTERPRETATION.
ALL WORDS IN
THIS AGREEMENT SHALL BE CONSTRUED TO BE OF SUCH NUMBER AND GENDER AS THE CONTEXT
REQUIRES OR PERMITS.
21.
COUNTERPARTS.
THIS AGREEMENT MAY BE EXECUTED IN ANY NUMBER OF
COUNTERPARTS, EACH OF WHICH WHEN SO EXECUTED AND DELIVERED SHALL BE AN ORIGINAL
HEREOF, AND IT SHALL NOT BE NECESSARY IN MAKING PROOF OF THIS AGREEMENT TO
PRODUCE OR ACCOUNT FOR MORE THAN ONE COUNTERPART HEREOF.
7
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8
22.
EMPLOYEE ACKNOWLEDGEMENT.
EMPLOYEE ACKNOWLEDGES THAT HE HAS READ
THIS AGREEMENT, UNDERSTANDS IT AND IS VOLUNTARILY ENTERING INTO IT.
EMPLOYEE
UNDERSTANDS AND AGREES THAT THIS AGREEMENT CONTAINS A GENERAL RELEASE OF CLAIMS
RELATING TO HIS EMPLOYMENT AND THE TERMINATION OF THAT EMPLOYMENT AGAINST ALL
EMPLOYER RELEASED PARTIES.
IN WITNESS WHEREOF, and intending to be legally bound, the Parties agree to the
terms of this Agreement.
Date:
Pelican National Bank, N.A.
February 10, 2006
By:
s/s Kenneth Aschom
Print name and title: Kenneth Aschom, CEO
Date:
Pelican Financial, Inc.
February 10, 2006
By:
Charles C. Huffman
Print name and title: Charles C. Huffman,
President and CEO
Date:
Employee:
February 10, 2006
s/s Howard B. Montgomery,
Howard B. Montgomery, Jr.
9
Exhibit A
Vacation pay for 2005 - $0.00 (none)
10