Document:

EX-10.1

 

Exhibit 10.1

FIRST AMENDMENT TO

EMPLOYMENT AGREEMENT

WHEREAS, effective March 1, 2006 (“Effective Date”), Rurban Financial Corp. (“RFC”), an Ohio bank
holding company having a place of business at 401 Clinton Street, Defiance, Ohio, and Kenneth A.
Joyce (“Executive”) entered into an Employment Agreement (“Agreement”);

WHEREAS, RFC and the Executive (collectively, the “Parties”) want to amend the Agreement to clarify
certain of its provisions;

WHEREAS, the Agreement may be amended by mutual agreement of the Parties;

NOW, THEREFORE, effective March 1, 2006, the Parties agree to the following amendments:

	1.	 	Section 3(c)(ii) of the Agreement is amended to read, in its entirety, as follows:

	 	(ii)	 	Without the Executive’s specific written consent, a reassignment which
requires the Executive to move his office more than fifty (50) miles from the
location of the Executive’s principal place of business as existing on the Effective
Date or the last location to which the Executive has specifically consented in
writing to be reassigned;

	2.	 	New Section 31 is added to the Agreement to read, in its entirety, as follows:

     31. REGULATORY LIMITATIONS. Notwithstanding anything to the contrary contained herein,
the Executive acknowledges and agrees that any payments made to the Executive pursuant to
this Agreement, or otherwise, are subject to and conditioned upon compliance with the
provisions of 12 U.S.C. § 1828(k) and Part 359 of the FDIC’s regulations (12 C.F.R. Part
359), which provisions contain certain prohibitions and limitations on the making of “golden
parachute” and certain indemnification payments by FDIC-insured institutions and their
holding companies. In the event any payments to the Executive pursuant to this Agreement
are prohibited or limited by the provisions of such statute and/or regulation: (a) RFC will
use its commercially reasonable efforts to obtain the consent of the appropriate regulatory
authorities to the payment by RFC to the Executive of the maximum amount that is permitted
(up to the amount payable under the terms of this Agreement); and (b) the Executive shall be
entitled to elect to receive benefits under either (i) this Agreement (subject to the
limitations described herein) or (ii) any generally applicable RFC severance pay and/or
salary continuation plan that may be in effect at the time of the Executive’s termination.

 

 

     IN WITNESS WHEREOF, the Parties, hereto, intending to be legally bound hereby, have caused
this amendment to be duly executed in their respective names and, in the case of RFC, by its
authorized representatives on the day and year above mentioned.

	 	 	 	 	 	 	 	 	 
	ATTEST	 	 	 	RURBAN FINANCIAL CORP.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Melanie Resendez
 

	 	 	 	By:
	 	/s/ Steven VanDemark, Chairman
 

	 	 
	 
	 	 	 	 	 	 	 	 
	Date: 5/19/06	 	 	 	Date: 5/19/06	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS	 	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Valda L. Colbart	 	 	 	/s/ Kenneth A. Joyce	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Kenneth A. Joyce	 	 
	 
	 	 	 	 	 	 	 	 
	Date: 5/17/06	 	 	 	Date: 5/17/06EX-10.2

 

Exhibit 10.2

FIRST AMENDMENT TO

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT

WHEREAS, effective March 1 2006 (“Effective Date”), Rurban Financial Corporation (“RFC”), an Ohio
business corporation having a principal place of business at 401 Clinton Street, Defiance, Ohio,
and Kenneth A. Joyce, individually (“Executive”) entered into a Supplemental Executive Retirement
Plan (“Plan”);

WHEREAS, RFC and the Executive (collectively, the “Parties”) want to amend the Plan to clarify
certain of its provisions;

WHEREAS, the Plan may be amended by mutual agreement of the Parties;

NOW, THEREFORE, effective March 1, 2006, the Parties agree to the following amendments:

	1.	 	Section 4 of the Plan is amended to read, in its entirety, as follows:

     4. DEFINITION OF ANNUAL DIRECT SALARY. For purposes of this Agreement, Annual Direct
Salary shall be defined as the Executive’s annualized base salary based on the highest base
salary rate in effect for any pay period ending with or within the
36-consecutive-calendar-month period ending on or immediately before the date on which it is
being calculated. Annual Direct Salary will be determined without including any employee or
fringe benefits, bonuses, incentives or other compensation (other than base salary) paid or
earned during the calculation period.

	2.	 	New Section 34 is added to the Plan to read, in its entirety, as follows:

     34. REGULATORY LIMITATIONS. Notwithstanding anything to the contrary contained herein,
the Executive acknowledges and agrees that any payments made to the Executive pursuant to
this Agreement, or otherwise, are subject to and conditioned upon compliance with the
provisions of 12 U.S.C. § 1828(k) and Part 359 of the FDIC’s regulations (12 C.F.R. Part
359), which provisions contain certain prohibitions and limitations on the making of “golden
parachute” and certain indemnification payments by FDIC-insured institutions and their
holding companies. In the event any payments to the Executive pursuant to this Agreement
are prohibited or limited by the provisions of such statute and/or regulation: (a) the
Corporation will use its commercially reasonable efforts to obtain the consent of the
appropriate regulatory authorities to the payment by the Corporation to the Executive of the
maximum amount that is permitted (up to the amount payable under the terms of this
Agreement); and (b) the Executive shall be entitled to elect to receive benefits under
either (i) this Agreement (subject to the limitations described herein) or (ii) any
generally applicable Corporation severance pay and/or salary continuation plan that may be
in effect at the time of the Executive’s termination.

     IN WITNESS WHEREOF, the Parties, hereto, intending to be legally bound hereby, have caused
this amendment to be duly executed in their respective names and, in the case of the

 

 

Corporation, by its authorized representatives on the day and year above mentioned.

	 	 	 	 	 	 	 	 	 
	ATTEST	 	 	 	RURBAN FINANCIAL CORP.
	 
	 	 	 	 	 	 	 	 
	/s/ Melanie Resendez	 	 	 	By:	 	/s/ Steven VanDemark, Chairman
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date:

	 	5/16/06
	 	 	 	Date:
	 	5/16/06
	 
	 	 	 	 	 	 	 	 
	WITNESS	 	 	 	EXECUTIVE
	 
	 	 	 	 	 	 	 	 
	/s/ Melanie Resendez	 	 	 	/s/ Kenneth A. Joyce
	 	 	 	 	 
	 	 	 	 	 	 	Kenneth A. Joyce
	 
	 	 	 	 	 	 	 	 
	Date:

	 	5/14/06
	 	 	 	Date:
	 	5/14/06EX-10.3

 

Exhibit 10.3

SCHEDULE A

TO

EXHIBIT 10.2

     Rurban Financial Corp. (the “Registrant”) has entered into First Amendments to Supplemental
Executive Retirement Agreements with the executive officers of the Registrant identified below,
which First Amendments to Supplemental Executive Retirement Agreements are substantially identical
to the First Amendment to Supplemental Executive Retirement Agreement, executed May 16, 2006 and
effective as of March 1, 2006, by and between the Registrant and Kenneth A. Joyce, President and
Chief Executive Officer of the Registrant, a copy of which was filed as Exhibit 10.2 to the
Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2006 (the “June
30, 2006 Form 10-Q”).

     In accordance with Rule 12b-31 promulgated under the Securities Exchange Act of 1934 and Item
601(b)(10)(iii) of Regulation S-K, the following table identifies those executive officers of the
Registrant with whom the Registrant has entered into First Amendments to Supplemental Executive
Retirement Agreements similar to that included as Exhibit 10.2 to the June 30, 2006 Form 10-Q:

	 	 	 	 	 	 	 
	 	 	 	 	Effective Date	 	Execution Date
	Name	 	Current Offices Held with Registrant	 	of Agreement	 	of Agreement
	 
	 	 	 	 	 	 
	Duane L. Sinn

	 	Executive Vice President and Chief
Financial Officer of Rurban
Financial Corp.; Treasurer and
Director of Rurban Operations Corp.
	 	March 1, 2006
	 	May 17, 2006
	 
	 	 	 	 	 	 
	Henry R. Thiemann

	 	President, Chief Executive Officer
and Director of Exchange Bank;
President, Chief Executive Officer
and Director of RFCBC, Inc.
	 	March 1, 2006*
	 	May 19, 2006
	 
	 	 	 	 	 	 
	Mark A. Klein

	 	President, Chief Executive Officer
and Director of The State Bank and
Trust Company
	 	March 1, 2006
	 	May 30, 2006

 

			
	*	 	Remains subject to approval by the Federal Reserve Board and the FDIC.EX-10.4

 

Exhibit 10.4

FIRST AMENDMENT TO

CHANGE IN CONTROL AGREEMENT

WHEREAS, effective March 1 2006 (“Effective Date”), Rurban Financial Corporation (“RFC”), an Ohio
business corporation having a principal place of business at 401 Clinton Street, Defiance, Ohio,
and Duane L. Sinn, individually (“Executive”) entered into a Change in Control Agreement
(“Agreement”);

WHEREAS, RFC and the Executive (collectively, the “Parties”) want to amend the Agreement to clarify
certain of its provisions;

WHEREAS, the Agreement may be amended by mutual agreement of the Parties;

NOW, THEREFORE, effective March 1, 2006, the Parties agree to the following amendments:

	1.	 	Section 3(b) of the Agreement is amended to read, in its entirety, as follows:

	 	(b)	 	Without the Executive’s specific written consent, a reassignment which requires
Executive to move his office more than fifty (50) miles from the location of
Executive’s principal place of business as existing on the first day of the Protection
Period or the last location to which the Executive, during the Protection Period, has
specifically consented in writing to be reassigned;

	2.	 	Section 6 of the Agreement is amended to read, in its entirety, as follows:

     6. DEFINITION OF ANNUAL DIRECT SALARY. For purposes of this Agreement, Annual Direct
Salary shall be defined as the Executive’s annualized base salary based on the highest base
salary rate in effect for any pay period ending with or within the
36-consecutive-calendar-month period ending on or immediately before the date on which it is
being calculated. Annual Direct Salary will be determined without including any employee or
fringe benefits, bonuses, incentives or other compensation (other than base salary) paid or
earned during the calculation period.

	3.	 	New Section 26 is added to the Agreement to read, in its entirety, as follows:

     26. REGULATORY LIMITATIONS. Notwithstanding anything to the contrary contained herein,
the Executive acknowledges and agrees that any payments made to the Executive pursuant to
this Agreement, or otherwise, are subject to and conditioned upon compliance with the
provisions of 12 U.S.C. § 1828(k) and Part 359 of the FDIC’s regulations (12 C.F.R. Part
359), which provisions contain certain prohibitions and limitations on the making of “golden
parachute” and certain indemnification payments by FDIC-insured institutions and their
holding companies. In the event any payments to the Executive pursuant to this Agreement
are prohibited or limited by the provisions of such statute and/or regulation: (a) the
Corporation will use its commercially reasonable efforts to obtain the consent of the
appropriate regulatory authorities to the payment by the Corporation to the Executive of the
maximum amount

 

 

that is permitted (up to the amount payable under the terms of this Agreement); and (b)
the Executive shall be entitled to elect to receive benefits under either (i) this Agreement
(subject to the limitations described herein) or (ii) any generally applicable Corporation
severance pay and/or salary continuation plan that may be in effect at the time of the
Executive’s termination.

     IN WITNESS WHEREOF, the Parties, hereto, intending to be legally bound hereby, have caused
this amendment to be duly executed in their respective names and, in the case of the Corporation,
by its authorized representatives on the day and year above mentioned.

	 	 	 	 	 	 	 	 	 
	ATTEST	 	 	 	RURBAN FINANCIAL CORP.
	 
	 	 	 	 	 	 	 	 
	/s/ Valda L. Colbart	 	 	 	/s/ Kenneth A. Joyce
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date: 5/17/06	 	 	 	Date: 5/17/06
	 
	 	 	 	 	 	 	 	 
	WITNESS	 	 	 	EXECUTIVE
	 
	 	 	 	 	 	 	 	 
	/s/ Melanie Resendez	 	 	 	/s/ Duane L. Sinn
	 	 	 	 	 
	 	 	 	 	 	 	Duane L. Sinn
	 
	 	 	 	 	 	 	 	 
	Date: 5/15/06	 	 	 	Date: 5/15/06

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]