TRANSACTION IS LITERALLY DESCRIBED
IN THE DEFINITION OF SUCH TERM.
18.
EFFECTIVE DATE; TERMINATION OF PRIOR AGREEMENTS.
THIS AGREEMENT SHALL
BECOME EFFECTIVE IMMEDIATELY UPON THE EXECUTION AND DELIVERY OF THE SAME BY THE
PARTIES HERETO.
UPON THE EXECUTION AND DELIVERY OF THIS AGREEMENT, ANY PRIOR
AGREEMENT RELATING TO THE SUBJECT MATTER HEREOF WILL BE DEEMED AUTOMATICALLY
TERMINATED AND BE OF NO FURTHER FORCE OR EFFECT.
19.
WITHHOLDING FOR TAXES.
ALL AMOUNTS AND BENEFITS PAID OR PROVIDED
HEREUNDER SHALL BE SUBJECT TO WITHHOLDING FOR TAXES AS REQUIRED BY LAW.
20.
NONSOLICITATION OF EMPLOYEES AND CUSTOMERS.
DURING THE PERIOD OF TIME
THAT ANY PAYMENTS AND BENEFITS ARE TO BE PROVIDED TO EMPLOYEE UNDER SECTION 3,
THE EMPLOYEE SHALL REFRAIN FROM DIRECTLY OR INDIRECTLY SOLICITING FOR EMPLOYMENT
OR BUSINESS RELATIONSHIP PURPOSES PERTAINING TO THE FINANCIAL SERVICES BUSINESS
OF LEESPORT OR THE BANK EMPLOYEES OR CUSTOMERS OF LEESPORT, THE BANK OR ANY
AFFILIATE OF EITHER OR ANY SUCCESSOR TO EITHER AS OF THE DATE OF THE EMPLOYEE'S
TERMINATION OF EMPLOYMENT.
IN THE EVENT OF A BREACH OF THIS SECTION, THE
EMPLOYEE'S RIGHT TO PAYMENTS AND BENEFITS UNDER SECTIONS 3 AND 4 SHALL
IMMEDIATELY TERMINATE.
LEESPORT OR ANY SUCCESSOR SHALL BE ENTITLED TO RECOVER
ANY PAYMENTS OR BENEFITS MADE FOLLOWING THE COMMENCEMENT OF THE PROHIBITED
CONDUCT, BUT BEFORE DISCOVERY OF THE SAME, AND MAY COMMENCE AN ACTION IN ANY
COURT OF COMPETENT JURISDICTION FOR SUCH ADDITIONAL LEGAL AND EQUITABLE RELIEF
AS IT MAY DEEM NECESSARY OR APPROPRIATE TO RECOVER DAMAGES INCURRED BY REASON OF
SUCH CONDUCT AND TO PRECLUDE CONTINUED VIOLATION OF THIS SECTION.
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IN WITNESS WHEREOF, the parties have executed this Agreement, or caused it to be
executed, as of the date first above written.
LEESPORT FINANCIAL CORP.
By
/s/ Raymond H. Melcher, Jr.
Raymond H. Melcher, Jr.
Chairman, President and
Chief Executive Officer
(SEAL)
Attest:
/s/ Laurie Heyer
Assistant Secretary
LEESPORT BANK
By
/s/ Raymond H. Melcher, Jr.
Raymond H. Melcher, Jr.
Chairman, President and
Chief Executive Officer
(SEAL)
Attest:
/s/ Laurie Heyer
Assistant Secretary
Witness:
/s/ Laurie Heyer
/s/ Jenette L. Eck
(SEAL)
Jenette L. Eck
9