Document:

EX-10.8

 

Exhibit 10.8

POST 2004

UNFUNDED DEFERRED COMPENSATION

PLAN FOR THE DIRECTORS OF

PEOPLES BANK SB

     The provisions of this Plan apply to all post-2004 deferrals. It is the intent of all of the
parties hereto that the Plan meets the requirements of Section 409A of the Internal Revenue Code.
The terms of the Plan are as follows:

     1. Each director may elect on or before December 31st of any year to defer all or
a specified portion of his annual fees for succeeding calendar years.

     2. Any person elected to fill a vacancy on the board, and who was not a director on the
preceding December 31st, may elect, within 30 days after becoming eligible under the
Plan, to defer all or a specified part of his annual fees for the balance of the calendar year
following such election and for succeeding calendar years, unless such person was already a
participant in another account balance plan sponsored by the bank.

     3. The rate of interest to be paid on deferred fees will be equal to the bank’s regular
six-month certificate of deposit, plus 2%. Interest on this account will be compounded quarterly.
The interest rate will be reset on the first business day of each month.

     4. Amounts deferred under the Plan, together with accumulated interest, will be distributed
in annual installments over a ten-year period beginning with the first day of the calendar year
immediately following the year in which the director ceases to be a director. Not withstanding
this provision, in no event shall a “key employee”; as that term is defined by the Internal Revenue
Service, receive any payment earlier than six-months after termination of employment. The first
annual installment for any such key employee will be paid on or soon after the later of six-months
after termination of employment or the first day of the calendar year immediately following the
year of termination of employment. All subsequent annual installment payments to any such key
employee will be made in the month of January, beginning with the January that immediately follows
the first annual installment payment.

     5. An election to defer fees shall continue from year to year unless terminated by the
director by written request. In the event a director elects to terminate deferring fees, the
amount already deferred cannot be paid to him until he ceases to be a director. A director may not
make or modify deferral elections during the middle of a year other than as provided in Paragraph
2.

     6. Upon the death of a director or former director prior to the expiration of the period
during which the deferred amounts are payable, the balance of the deferred fees and interest in his
account shall be payable to his estate or designated beneficiary in full on the first day of the
calendar year, following the year in which he dies.

46

 

     7. Distribution of benefits pursuant to the termination of the Plan is prohibited unless the
termination qualifies as a distributable event under Section 409A of the Internal Revenue Code or
the regulations thereunder.

     8. Not withstanding any other provisions to the contrary, in accordance with guidance issued
by the United States Treasury and the Internal Revenue Service, participants may make a valid
deferral election as late as March 15, 2005 with respect to 2005 fees that became payable after
such date. A participant may make such an election by completing the appropriate deferral election
form and submitting it to the bank no later than March 15, 2005.

ELECTION TO PARTICIPATE IN UNFUNDED DEFERRED COMPENSATION PLAN

     Certificates acknowledged and attested and inserted herewith to become apart of these minutes.
Adopted by the Board of Directors this 16th day of November 2005, and made effective January 1, 2005.

	 	 	 	 	 	 	 	 	 
	 

	 	Attested by:
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	/s/ David A. Bochnowski
	 	 	 	/s/ Jon E. DeGuilio	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Chairman & CEO
	 	 	 	Corporate Secretary	 	 

47EX-10.12

 

Exhibit 10.12

Summary Sheet of Director and Officer Compensation

Outside Directors

     On January 24, 2007, NorthWest Indiana Bancorp’s (the “Bancorp”) Directors approved an
increase in annual director’s fees paid to outside directors. For 2007, $22,750 in annual fees will
be paid to outside directors. Directors are reimbursed for expenses incurred in connection with
attendance at Board and Committee meetings.

Inside Directors and Executive Officers

     On January 24, 2007, the Bancorp’s Compensation and Benefits Committee of the Board of
Directors approved executive officer base compensation for 2007 and authorized payment of incentive
compensation for 2006 performance. The individuals listed below will begin to receive their new
base salary and incentive compensation payment on February 1, 2007:

	 	 	 	 	 	 	 	 	 
	 	 	2007	 	 	2006	 
	 	 	Base	 	 	Incentive	 
	Inside Directors and Executive Officer	 	Salary	 	 	Compensation	 
	 
	 	 	 	 	 	 	 	 
	David A. Bochnowski, Director, Chairman and
Chief Executive Officer
	 	$	347,563	 	 	$	46,976	 
	Joel Gorelick, Director, President and Chief
Administrative Officer
	 	$	209,575	 	 	$	22,205	 
	Edward J. Furticella, Director and Consultant
	 	$	85.59 	(1)	 	$	8,260	 
	Jon E. DeGuilio, Executive Vice President,
General Counsel and Secretary
	 	$	141,341	 	 	$	7,325	 
	Robert T. Lowry, Senior Vice President and
Chief Financial Officer
	 	$	125,823	 	 	$	7,575	 

 

			
	(1)	 	Mr. Furticella is a part-time employee with the Bancorp and earns an hourly rate of
pay.

Incentive Compensation Plan

     The Bancorp’s Compensation and Benefits Committee has established an incentive compensation
system designed to offer positive salary rewards for peak performance to all employees. The
incentive compensation is geared towards rewarding performance that results in increased
profitability of the Bancorp. In addition, incentive compensation is awarded for consistent
performance tied to corporate goals rather than short-swing profits. The incentive compensation is
discretionary and approved by the Board on an annual basis, as strategic goals are achieved. The
incentive targets are set by the Board at the beginning of the fiscal year, but the Board retains
the prerogative to review the incentive outlook at the end of the fiscal year.

     The incentive compensation is paid from a pool of funds created each year based on the
Bancorp’s return on equity, return on assets, and increase in earnings per basic share. Each of the
three measures is tied to a factor, which is then multiplied by the Bancorp’s annual net income
after incentive compensation expense to determine the incentive compensation pool. The factors are
set forth in the attached table. The Board also has the discretion to increase the size of the
incentive compensation pool to reward outstanding performance consistent with long and short-range
goals. No Board discretionary funds were included in the 2006 incentive compensation pool. The
incentive

48

 

compensation pool is
generally allocated to the Bancorp’s employees in the following manner: 30% to the Chief Executive
officer, 52% to the Chief Administrative Officer and Vice Presidents and 18% to other employees.
The Chief Executive Officer, with Board approval, may reallocate a portion of his incentive
compensation pool to the other compensation pools.

     The allocated incentive compensation pools can be utilized to supplement the cash remuneration
of the Bancorp’s management according to the following guidelines: Vice Presidents up to 10% of
salary; Senior Vice Presidents up to 20% of salary; President and Executive Vice President up to
35% of salary; and Chief Executive Officer up to 50% of salary. The incentive compensation for
Vice Presidents, Senior Vice Presidents, Executive Vice President and President is awarded based on
a performance review by the Chief Executive Officer, which is reviewed and approved by the
Bancorp’s Compensation Committee and Board. The performance review incorporates the following
criteria: results achieved, goal attainment, and core competencies for leadership, management,
communication, initiative and time management, commitment to stock ownership, community leadership
and professional development. The Compensation and Benefits Committee and Board conduct the Chief
Executive Officer’s performance review following the same criteria and determine his incentive
compensation.

49

 

TABLE

COMPONENT PARTS

PEOPLES BANK INCENTIVE

	 	 	 	 	 	 	 	 	 	 	 
	Return on Assets	 	% of Profit	 	Return on Equity	 	% of Profit	 	Earnings Per Share	 	% of Profit
	%	 	Added to Pool	 	%	 	Added to Pool	 	% Increase	 	Added to Pool
	 
	 	 	 	 	 	 	 	 	 	 
	0.70
	 	0.025	 	11.00	 	0.500	 	1.00	 	0.0000
	0.75
	 	0.500	 	11.25	 	0.625	 	2.00	 	0.0250
	0.80
	 	0.625	 	11.50	 	0.750	 	3.00	 	0.0500
	0.85
	 	0.750	 	11.75	 	0.875	 	4.00	 	0.0750
	0.90
	 	0.875	 	12.00	 	1.000	 	5.00	 	0.0100
	0.95
	 	1.000	 	12.25	 	1.125	 	6.00	 	0.0150
	1.00
	 	1.125	 	12.50	 	1.250	 	7.00	 	0.0200
	1.05
	 	1.250	 	12.75	 	1.375	 	8.00	 	0.0250
	1.10
	 	1.375	 	13.00	 	1.500	 	9.00	 	0.0300
	1.15
	 	1.500	 	13.25	 	1.625	 	10.00	 	0.0350
	1.20
	 	1.625	 	13.50	 	1.750	 	11.00	 	0.0400
	1.25
	 	1.750	 	13.75	 	1.875	 	12.00	 	0.0410
	1.30
	 	1.875	 	14.00	 	2.000	 	13.00	 	0.0420
	1.35
	 	2.000	 	14.25	 	2.125	 	14.00	 	0.0430
	1.40
	 	2.125	 	14.50	 	2.250	 	15.00	 	0.0440
	1.45
	 	2.250	 	14.75	 	2.375	 	16.00	 	0.0450
	1.50
	 	2.375	 	15.00	 	2.500	 	17.00	 	0.0460
	 
	 	 	 	15.25	 	2.625	 	18.00	 	0.0470
	 
	 	 	 	15.50	 	2.750	 	 	 	 
	 
	 	 	 	15.75	 	2.875	 	 	 	 
	 
	 	 	 	16.00	 	3.000	 	 	 	 

50EX-10.1

 

Exhibit 10.1

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT, entered into as of this 21st day of March,
2007, by and between:

VINCENT J. CALABRESE

(the “Officer”),

and

FIRST NATIONAL BANK OF PENNSYLVANIA

(the “Company”),

WITNESSETH THAT:

WHEREAS, Company desires to obtain the services of Officer; and

WHEREAS, Officer desires to become employed by Company; and

WHEREAS, Company desires to set forth the terms of the employment of the Officer; and

WHEREAS, the Officer is willing to commit himself to serving the Company on the terms and
conditions provided in this Agreement.

NOW, THEREFORE, in consideration of the promises and covenants herein contained, and intending to
be legally bound, the parties hereto agree as follows:

SECTION 1 Recitals.

The foregoing recitals are incorporated by reference as if fully set forth herein.

SECTION 2 Term of Agreement.

	(a)	 	Initial Term. The term of employment of the Officer under this Agreement shall be,
initially, a two (2) year term commencing on the date Officer commences employment (the
“Commencement Date”) and ending on the second anniversary of the Commencement Date
(the “Termination Date”). Said term shall be subject to automatic extension by
operation of the provisions of Section 2(b) hereof.

	(b)	 	Renewal Extension Term. On the first anniversary of the Commencement Date and
on each succeeding anniversary date thereafter (“Renewal Commencement Date”),

1

 

	 	 	the term of employment of the Officer under this Agreement shall be automatically extended
for one (1) additional year, thereby extending the contract to the second anniversary of
the Renewal Commencement Date, unless either party shall have elected to fix the expiration
date of the Officer’s term of employment.
	 
	(c)	 	Termination of Automatic Renewal.

	 	(1)	 	Each of the parties shall have the right to terminate the automatic renewal by
written notice 60 days prior to the Renewal Commencement Date and thereby fix the
expiration of the term of the Agreement under this Section;

	 	(2)	 	If either party provides a notice of termination of automatic renewal to
the other, the term of the Agreement of the Officer under this Section shall continue
until the later of:

	 	(c)	 	the Termination Date of the Initial Term as described in Section 2(a)
herein; or
	 
	 	(d)	 	the anniversary as determined by the Renewal Commencement Date
as described in Section 2(b) herein.

	 	(3)	 	Said term shall not continue after December 31, 2027 whether or not such notice
shall have been given in the year 2027 as aforesaid.

	(d)	 	Examples of Operation of this Section. The following are offered merely by way
of illustration, and strictly for purposes of providing examples of the operation of Section
2(a) (Initial Term) and (b) (Renewal Extension Term) of this Agreement:
	 
	 	 	Example of Initial Term: In the event the Commencement Date is March 15, 2007, the
Initial Term is March 15, 2007, to March 14, 2009;
	 
	 	 	Example of Renewal Extension Term: The Renewal Extension Term of this Agreement
will automatically renew for an additional one (1) year term on March 15, 2008, and on each
March 15th thereafter for an additional one (1) year term; therefore, on March
15, 2008, the Renewal Extension Term runs from March 15, 2008 to March 15, 2010; and
	 
	 	 	Example of Non-Renewal: In the event written notice of non-renewal is provided to
the employee prior to January 15, 2006 (or any January 15th thereafter), the
term of this Agreement will end on March 14, 2009 (or any March 14th thereafter).

2

 

SECTION 3 Compensation.

In consideration for services rendered to the Company under this Agreement, the Company shall pay
and provide to the Officer the following compensation and benefits:

	 	(a)	 	Salary. The Company shall pay Officer an annual minimum base salary of
$200,000 to be paid in accordance with the Company’s normal payroll practice to be
adjusted from time to time to reflect such merit increases as the Company may determine
are appropriate.
	 
	 	(b)	 	Participation in Performance and Incentive Compensation and Bonus Plans. At
the discretion of the Compensation Committee of F.N.B. Corporation, the Officer shall
be entitled to participate in incentive compensation and such other bonus plans
comparable to those given to similarly-positioned officers of the Company or its
present or future subsidiaries or affiliates only during the term of Officer=s
employment with the Company.
	 
	 	(c)	 	Fringe Benefits. The Officer shall be entitled to vacations, retirement
benefits and other fringe benefits, including but not limited to group life, disability
and health insurance coverages comparable with those furnished to similarly positioned
officers of the Company and consistent with the prevailing compensation policies and
practices of the Company (now and in the future) as they may change from time to time,
with respect to similarly-positioned officers of the Company or its present or future
subsidiaries or affiliates.

SECTION 4 Resignation.

If the Officer voluntarily resigns as an officer or employee of the Company or its significant
present or future subsidiaries or affiliates, the Officer shall no longer be considered an employee
for any purpose and the Officer shall not be entitled to any separation pay, compensation, or
benefits after the effective date of the Officer’s resignation. Notwithstanding the
foregoing, nothing contained herein shall affect the Officer’s vested rights, if any.

SECTION 5 Death.

If the Officer dies during Officer’s employment with Company, the Officer’s
heirs and estate are not entitled to any Separation Pay under the terms of this Agreement.

3

 

SECTION 6 Disability.

	 	(a)	 	The term of employment of the Officer under this Agreement may be terminated at
the election of the Company upon a determination by the Board of Directors of the
Company, in its sole discretion, that the Officer will be unable by reason of physical
or mental incapacity to perform the reasonably-expected duties assigned to him pursuant
to this Agreement for a period longer than six consecutive months or more than nine
months in any consecutive twelve-month period;
	 
	 	(b)	 	The Board of Directors shall give due consideration to such factors as it deems
appropriate to the best interests of the Company, including, but not limited to,
the opinion of the Officer’s personal physician or physicians and the opinion
of any physician or physicians selected by the Board of Directors for these
purposes;
	 
	 	(c)	 	The Officer shall submit to examination by any physician(s) so selected by the
Board of Directors, and shall otherwise cooperate with the Board of Directors
in making its determination contemplated hereunder (such cooperation to include,
without limitation, consenting to the release of information by any such
physician(s) to the Company);
	 
	 	(d)	 	In the event of such termination, the Company shall thereupon be relieved of
its obligations to pay compensation and benefits under Section 3 hereof (except
for accrued and unpaid items) but shall be obligated to pay or provide to the
Officer all rights and benefits available under the Company’s officer
disability policy.

SECTION 7 Termination for Proper Cause.

	 	(a)	 	The occurrence of any of the following events or circumstances shall constitute
“Proper Cause” for termination, at the election of the Board of Directors of the
Company, of the employment of the Officer under this Agreement:

	 	(1)	 	the perpetration of defalcations by the Officer involving the Company or
any of its present or future subsidiaries or affiliates, or willful, reckless
or grossly negligent conduct of the Officer entailing a substantial violation
of any material provision of the laws, rules, regulations or orders of any
governmental agency applicable to the Company or its subsidiaries and
affiliates;

4

 

	 	(2)	 	the repeated and deliberate failure by the Officer, after
advance written notice, to comply with reasonable policies or directives of the
Board of Directors, President, any executive officer or the Officer’s
immediate supervisor; or
	 
	 	(3)	 	the Officer shall breach this Agreement in any other material
respect.

	 	(b)	 	If Company terminates the Officer for Proper Cause, the Officer shall not be an
employee nor shall the Officer be entitled to any separation pay, compensation, or
benefits after the effective date of the Officer’s termination. Notwithstanding
the foregoing, nothing contained herein shall affect the Officer’s vested rights,
if any.

SECTION 8 Termination Without Cause.

	 	(a)	 	Separation Pay. Company may terminate this Agreement at any time whether or
not such termination constitutes “Proper Cause” as defined in Section 7
hereof. In the event Company terminates this Agreement without Proper Cause as defined
in Section 7 hereof:

	 	(1)	 	The Officer shall not be considered an employee after the
effective date of the termination.
	 
	 	(2)	 	Company shall pay to Officer an amount equal to two (2) times
Officer’s annual salary at the time of termination (“Separation
Pay”).
	 
	 	(3)	 	Company shall pay the Officer the Separation Pay over a period
of twenty-four (24) months in equal installments less all withholdings required
by law and authorized deductions, at intervals consistent with Company payroll
practices.
	 
	 	(4)	 	Officer will not be entitled to receive any benefits or bonuses
described in Section 3(b) and (c) hereof.
	 
	 	(5)	 	Officer will be entitled to receive such Separation Pay only if the
Officer executes and does not revoke a Release of all claims and liabilities in
form prescribed by Company.

5

 

	 	(6)	 	Following termination without cause, Officer is entitled to
elect insurance coverage under the Consolidated Omnibus Budget Reconciliation
Act (COBRA) for a period of up to eighteen (18) months following officers
termination, and Company shall be obligated to pay on behalf of Officer the
monthly premium cost for Officer’s health/medical coverage under COBRA,
less the same contribution as required by employee’s group life and
health insurance coverages pursuant to the prevailing policies and practices of
the Company (now and in the future) with respect to similarly positioned
officers of the Company or its present or future subsidiaries or affiliates.
	 
	 	(7)	 	Nothing herein shall restrict the Officer’s vested
rights, if any, pursuant to Company’s 401(k) Plan, Retirement Income
Plan, Basic Retirement Plan, 2001 Incentive Plan, or any similar plans.
Notwithstanding the Officer receiving any payments under the terms of this
Section, on the date of the Officer’s termination, all vesting, for
purposes of the Company’s 401(k) Plan, Retirement Income Plan, Basic
Retirement Plan, 2001 Incentive Plan, or other such plans, shall cease.

	 	(b)	 	Suspension of Separation Pay. Without limitation of the Company’s rights
and remedies under this Agreement or as otherwise provided by law or in equity, it is
understood and agreed between the parties that the right of the Officer to receive and
retain any payments otherwise due under this Agreement shall be suspended and canceled
if and for so long as Officer shall be in violation of this Agreement. If and when the
Officer shall have cured such violation within twenty (20) days of receipt of written
notice from Company and shall have tendered to the Company any and all economic
benefits directly or indirectly received or receivable by the Officer arising
therefrom, the Officer’s right to receive payments under this Agreement shall be
automatically reinstated but only for the remainder of the period during which such payments are due him or her.
	 
	 	(c)	 	Termination of Separation Pay. Notwithstanding the foregoing or any other
provision of this Agreement, the Officer shall not be entitled to

6

 

	 	 	 	any further separation payments and the separation pay period shall end upon the occurrence of any
of the following:

	 	(1)	 	Officer files a claim, suit or submits any matter to
arbitration in violation of the Release executed in connection with Section
8(a)(5) hereof.
	 
	 	(2)	 	Officer violates any term or condition of this Agreement,
including, but not limited to, the Non-Competition, Non-Solicitation and
Confidentiality provisions of this Agreement.
	 
	 	(3)	 	Officer’s misappropriates any trade secrets.
	 
	 	(4)	 	Company learns that the Officer committed a material breach of
the Agreement during the terms of this Agreement.

	 	(d)	 	Reduction of Separation Pay. Officer’s separation pay and COBRA
reimbursement shall be reduced by an amount equal to the amount Officer is receiving
from any other employment, including self-employment after the initial twelve (12)
months of Separation Pay, which will not be adjusted.

SECTION 9 Change of Control.

A Change of Control (“Change of Control”) shall be defined as any merger or
consolidation of F.N.B. Corporation with another corporation, and as a result of such merger or
consolidation, the shareholders of F.N.B. Corporation as of the day preceding such transaction will
own less than fifty-one percent (51%) of the outstanding voting securities of the surviving
corporation, or in the event that there is (in a single transaction or series of related
transactions) a sale or exchange of eighty percent (80%) or more of the Common Stock of F.N.B.
Corporation for securities of another entity in which shareholders of F.N.B. Corporation will own
less than fifty-one percent (51%) of such entity’s outstanding voting securities, or in the event
of the sale by F.N.B. Corporation of a substantial portion of its assets (including the capital
stock F.N.B. Corporation owns in its subsidiaries) to an unrelated third party.

SECTION 10 Termination after Change of Control.

If Company terminates Employee without Proper Cause within twelve months of an event
constituting a Change of Control, and if the Officer shall duly have complied with and observed the
covenants of this Agreement, the Officer will be discharged

7

 

from the covenants of Section 11 at any
time during the Restricted Period by filing with the Company a duly executed statement satisfactory
to Company, releasing the Company and, if applicable, its insurance carriers, from any and all
obligations under the terms of this Agreement. Notwithstanding said Release, Officer shall remain
subject to all other covenants and restrictions of this Agreement, including, but not limited to
Sections 12 and 13.

SECTION 11 Non-Competition.

	 	(a)	 	For purposes of this Agreement, reference to the term “Competitive
Enterprise” shall mean any bank holding company, finance company or insured
depository institution (including an institution in the organization stage or in the
process of applying for or receiving appropriate regulatory approval), including,
without limitation, any federal or state chartered bank, savings bank, savings and loan
association, credit union or other financial services provider or non-banking affiliate
thereof offering similar services or products as those offered by the Company to its
customers.
	 
	 	(b)	 	During the term of this Agreement and during the two (2) year period
immediately following termination of Officer’s employment (which may include,
without limitation, Officer’s resignation or any event specified in Sections 7
and 8 hereof) (hereinafter referred to as “Restricted Period”), the Officer
shall not:

	 	(1)	 	accept a position as director, employee, consultant, advisor or
agent of any Competitive Enterprise which is located in any county in the
Company’s region to which Officer is assigned at the time of
Officer’s termination of employment and any contiguous county and any
county in the Company’s region to which Officer was assigned 24 months
prior to Officer’s termination of employment.
	 
	 	(2)	 	acquire an ownership interest (individually or in concert with
others) in a Competitive Enterprise whereby said ownership
interest enables Officer to, directly or indirectly, in any manner, control,
direct, influence, affect or impact the operations, services or business
activities of the Competitive Enterprise in any county, or county contiguous
thereto, in which Company or its subsidiaries operate an office at the time
of Officer’s termination of employment;

8

 

SECTION 12 Non-Solicitation.

During the Restricted Period the Officer shall not:

	 	(a)	 	in any way, directly or indirectly, for the purpose of selling
any product or service that competes with a product or service offered by the
Company or its present or future subsidiaries or affiliates, solicit, divert,
or entice:

	 	(1)	 	any customer or existing business of Company,
with whom the Officer solicited, became aware of, or transacted
business during Officer’s employment with Company;
	 
	 	(2)	 	any potential customer or business identified
by Company, with whom the Officer solicited, became aware of, or
transacted business during Officer’s employment with Company;

	 	(b)	 	accept or provide assistance in the accepting of (including,
but not limited to providing any service, information, assistance or other
facilitation or other involvement) business, patronage or orders from customers
or any potential customers of Company with whom the Officer has had contact,
involvement or responsibility during the term of this Agreement.
	 
	 	(c)	 	employ or assist in employing any present employee of the
Company or any of its affiliates (whether or not such employment is full time
or is pursuant to a written contract), for the purpose of having such employee
perform services for any Competitive Enterprise or other organization in
competition with the business of the Company or any of its present or future
subsidiaries or affiliates;
	 
	 	(d)	 	in any way, directly or indirectly, make any oral or written
statement, comments, or other communications designed or intended to impugn,
disparage or otherwise malign the reputation, ethics, competency, morality or
qualifications of the Company or any of its directors or employees or
customers.

9

 

SECTION 13 Confidentiality.

	 	(a)	 	For purposes of this Agreement, “Proprietary Information” shall mean any
information relating to the business of the Company or any of its present or future
subsidiaries or affiliates that has not previously been publicly released by authorized
representatives of the Company or any authorized representatives of any of its present
or future subsidiaries or affiliates, and shall include (but shall not be limited to)
Company information encompassed in all marketing and business plans, financial
information, costs, pricing information, customer and client lists and relationships
between Company and dealers, distributors, sales representatives, wholesalers,
customers, clients, suppliers, and others who have business dealings with Company, and
all methods, concepts, or ideas in or reasonably related to the business of the Company
or any of its present or future subsidiaries or affiliates and not in the public
domain.
	 
	 	(b)	 	The Officer agrees to regard and preserve as confidential all Proprietary
Information that has been or may be developed or obtained by the Officer in the course
of Officer’s employment with the Company and its subsidiaries and affiliates,
whether Officer has such information in Officer’s memory, writing, electronic
media or other physical form, including information maintained by Officer on any
computer, electronic device, or other personal property owned by Officer. The Officer
shall not, without written authorization from the Company, use for Officer’s
benefit or purposes, nor disclose to others at any time, either during the term of
Officer’s employment or thereafter, except as required by the conditions of
Officer’s employment hereunder, any Proprietary Information connected with the
business or development of the Company or its subsidiaries or affiliates. This
prohibition shall not apply
after the Proprietary Information has been voluntarily disclosed to the public,
independently developed and disclosed by others, or otherwise enters the public
domain through lawful means.

SECTION 14 Removal of Documents or Objects.

The Officer agrees not to remove from the premises of the Company or any of its present or future
subsidiaries or affiliates, except as an employee of the Company in

10

 

pursuit of the business of the
Company or any of its present or future subsidiaries or affiliates, or except as specifically
permitted in writing by the Company, any document or object containing or reflecting any
Proprietary Information. The Officer recognizes that all such documents, tangible and intangible
property and objects, whether developed by him or her by someone else, are the exclusive property
of the Company.

SECTION 15 Remedies.

In addition to any other rights and remedies Company may have if Officer violates this Agreement,
the Company and Officer agree as follows:

	 	(a)	 	It is understood and agreed by and between the parties hereto that the services
to be rendered by the Officer hereunder are of a special, unique, extraordinary and
intellectual character, which gives them a peculiar value, the loss of which may not be
reasonably or adequately compensated in damages, and additionally that a breach by the
Officer of the covenants set out in Sections 11, 12, 13 and 14 of this Agreement will
cause the Company great and irreparable injury and damage. The Officer hereby
expressly agrees that the Company shall be entitled to the remedies of injunction,
specific performance and other equitable relief to prevent a breach of Sections 11, 12,
13 and 14 of this Agreement by the Officer. This provision shall not, however, be
construed as a waiver of any of the remedies which the Company may have for damages or
otherwise.
	 
	 	(b)	 	In the event Officer shall be in violation of any of the aforementioned
restrictive covenants, the time limitation thereof with respect to them shall be
extended for a period of time equal to the period of time during which breach or
breaches should occur; and in the event the Company should be required to seek relief
from such breach in any court, board of arbitration or other tribunal, the covenants
shall be extended for a period of time equal to the pendency of such proceedings, including appeals.

SECTION 16 Subsidiaries and Affiliates.

It is understood and agreed by the parties hereto that, at the election and direction of the
Company’s Board of Directors and without modification of the terms and provisions hereof, the
Officer may be required to serve as an officer of any one or more present or future subsidiaries or
affiliates of the Company and, when and as so

11

 

determined by the Board and any such subsidiary or
affiliate, the rights, duties and obligations of the Officer and Company expressed and implied in
this Agreement shall inure to the benefit of and bind any such subsidiary or affiliate with the
same force and effect as would be obtained if the subsidiary or affiliate were a party hereto
jointly and severally with the Company.

SECTION 17 Successors, Assigns, Etc.

	 	(a)	 	This Agreement shall be binding upon, and shall inure to the benefit of, the
Officer and the Company and their respective permitted successors, assigns, heirs,
legal representatives and beneficiaries.
	 
	 	(b)	 	Except as required by law, no right to receive payments under this Agreement
shall be subject to anticipation, commutation, alienation, sale, assignment,
encumbrance, charge, pledge or hypothecation or to execution, attachment, levy, or
similar process or assignment by operation of law, and any attempt, voluntary or
involuntary, to effect any such action shall be null, void and of no effect; provided,
however, that nothing in this Section shall preclude the assumption of such rights by
executors, administrators or other legal representatives of the Officer or
Officer’s estate and their assigning any rights hereunder to the person or
persons entitled thereto.
	 
	 	(c)	 	Nothing in this Agreement shall preclude the Company from consolidating or
merging into or with or transferring all or substantially all of its assets to another
corporation which assumes this Agreement and all obligations and undertakings of the
Company hereunder. Upon such a consolidation, merger or transfer of assets and
assumption the term “Company” as used herein shall mean such other corporation and this
Agreement shall continue in full force and effect.

SECTION 18 Notices.

	 	(a)	 	All notices and other communications which are required or may be given under
this Agreement shall be in writing and shall be deemed to have been given on the date
delivered personally or if sent by registered or certified mail, return receipt
requested, postage prepaid, on the date deposited in the mail.

12

 

	 	(b)	 	All notices shall be provided to the following address or to such other place
as either party shall have specified by notice in writing to the other:

	 	(1)	 	To the Company, at the address designated as its headquarters,
Attention: CEO. With a copy to F.N.B. Corporation, One F.N.B. Boulevard,
1st Floor, Hermitage, Pennsylvania 16148, Attention: Corporate
Counsel.
	 
	 	(2)	 	To the Officer, at his/her address provided to Company from
time to time for salary and other similar purposes.

SECTION 19 Governmental Regulation.

Nothing contained in this Agreement shall be interpreted, construed or applied to require
the commission of any act contrary to law and whenever there is any conflict between any provision
of this Agreement and any statute, law ordinance, order or regulation, the latter shall prevail;
but in such event any such provision of this Agreement shall be curtailed and limited only to the
extent necessary to bring it within applicable legal requirements.

SECTION 20 Arbitration.

Any dispute or controversy as to the validity, interpretation, construction, application or
enforcement of, or otherwise arising under or in connection with this Agreement, shall be submitted
at the request of either party hereto for resolution and settlement through arbitration in
Pennsylvania in accordance with the rules then prevailing of the American Arbitration Association.
Any award rendered therein shall be final and binding on each of the parties hereto and their
heirs, executors, administrators, successors and assigns, and judgment may be entered thereon in
any court having jurisdiction. The foregoing provisions of this paragraph shall not be deemed to
limit the rights and remedies reserved to the Company under and pursuant to Section 15 hereof which
rights and remedies may be pursued through arbitration.

SECTION 21 Governing Law.

This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth
of Pennsylvania, without regard to its conflicts of laws principles.

SECTION 22 Divisibility.

Should a court or arbitrator declare any provision hereof to be invalid, such declaration shall not
affect the validity of the Agreement as a whole or any part thereof, other than the specific
portion declared to be invalid.

13

 

SECTION 23 Headings.

The headings to the Sections and paragraphs hereof are placed herein for convenience of reference
only and in case of any conflict the text of this Agreement, rather than the headings, shall
control.

SECTION 24 Entire Agreement; Amendment.

This Agreement sets forth the entire understanding of the parties in respect of the subject matter
contained herein and supersedes all prior agreements, arrangements and understandings relating to
the subject matter and may only be amended by a written agreement signed by both parties hereto or
their duly-authorized representatives.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date
first above written.

	 	 	 	 	 	 
	WITNESS:
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	/s/ James G. Orie	 	/s/ Vincent J. Calabrese
	 	 	 
	 	 	VINCENT J. CALABRESE
	 
	 	 	 	 
	 
	 	 	 	 
	ATTEST:	 	FIRST NATIONAL BANK OF PENNSYLVANIA
	 
	 	 	 	 
	 
	 	 	 	 
	/s/ James G. Orie

	 	By:
	 	/s/ Brian F. Lilly
	 

	 	 	 	 
	Secretary

	 	 	 	Brian F. Lilly

Chief Administrative Officer

14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]