Document:

Exhibit 4.4

 

Exhibit 4.4

GUARANTEE OF

THE PNC FINANCIAL SERVICES GROUP, INC.

     FOR VALUE RECEIVED, THE PNC FINANCIAL SERVICES GROUP, INC. (formerly known as PNC Financial
Corp and PNC Bank Corp.), a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania (herein called the “Guarantor”), hereby unconditionally guarantees to
the holder of the Security upon which this Guarantee is endorsed the due and punctual payment of
the principal and interest on said Security, when and as the same shall become due and payable,
whether by declaration thereof or otherwise, according to the terms thereof and of the Indenture
referred to therein. In case of default by PNC Funding Corp (herein called the “Company”) in the
payment of any such principal or interest, the Guarantor agrees duly and punctually to pay the
same.

     The Guarantor hereby agrees that its obligations hereunder shall be absolute and
unconditional, irrespective of, and shall be unaffected by, any invalidity, irregularity or
unenforceability of said Security or said Indenture, any failure to enforce the provisions of said
Security or said Indenture, or any waiver, modification or indulgence granted to the Company with
respect thereto, by the holder of said Security or the Trustee under said Indenture or any other
circumstances which may otherwise constitute a legal or equitable discharge of a surety or
guarantor. The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims
with a court in the event of a merger or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest or notice with respect to said Security or the
indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will
not be discharged except by payment in full of the principal of and premium, if any, and interest
on said Security.

     The obligations of the Guarantor evidenced by this Guarantee, to the extent and in the manner
set forth in said Indenture, shall rank pari passu in right of payment with each
other and with the Guarantor’s unsecured obligations to holders of Senior Guarantor Indebtedness
(as defined in said Indenture) and are senior in right of payment to the Existing Guarantor
Subordinate Indebtedness (as defined in the Indenture), and each Holder of a Security upon which
this Guarantee is endorsed, by the acceptance hereof, agrees to and shall be bound by such
provisions of the Indenture. The obligations of the Guarantor evidenced by this Guarantee shall
also rank pari passu in right of payment with the Guarantor’s guarantees of the
Company’s 4.2% Senior Notes Due 2008.

     The Guarantor shall be subrogated to all rights of the holder of said Security against the
Company in respect of any amounts paid by the Guarantor pursuant to the provisions of this
Guarantee; provided, however, that the Guarantor shall not be entitled to enforce,
or to receive any payments arising out of or based upon, such right of subrogation until the
principal of and premium, if any, and interest then due on all Securities issued under said
Indenture shall have been paid in full.

     This Guarantee shall not be valid or become obligatory for any purpose until the certificate
of authentication on the Security on which this Guarantee is endorsed shall have been signed
manually by the Trustee under the Indenture referred to in said Security.

     All terms used in this Guarantee which are defined in the Indenture, dated as of December 1,
1991, among the Company, the Guarantor and JPMorgan Chase Bank, N. A., formerly known as The Chase
Manhattan Bank and Chemical Bank, successor by merger to Manufacturers Hanover Trust Company, (the
“Trustee”), as amended by a Supplemental Indenture dated as of February 15, 1993, by and among the
Company, the Guarantor and the Trustee, and as further amended by a Second Supplemental Indenture
dated as of February 15,

 

 

2000, by and among the Company, the Guarantor and the Trustee shall have the meanings assigned
to them in the Indenture.

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[signatures appear on following page]

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     IN WITNESS WHEREOF, THE PNC FINANCIAL SERVICES GROUP, INC. has caused this Guarantee to be
duly executed by manual or facsimile signature under its corporate seal or a facsimile thereof.

	 	 	 	 	 	 	 
	Dated: March 10, 2005
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	PNC FUNDING CORP
	 
	 	 	 	 	 	 
	

	 	 	 	By /s/  William S. Demchak
					

	

	 	 	 	     Name:
	 	William S. Demchak
	Attest:

	 	 	 	     Title:
	 	Vice Chairman and
Chief Financial Officer
	 
	 	 	 	 	 	 
	/s/ Thomas R. Moore
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Name: Thomas R. Moore
	 	 	 	 	 	 
	Title: Corporate Secretary
	 	 	 	 	 	 

[SEAL]

-3-<PAGE>

                                                                    Exhibit 10.2

                              EMPLOYMENT AGREEMENT

            THIS EMPLOYMENT AGREEMENT (the "Agreement") made by and between
FIRST CITIZENS BANC CORP, an Ohio corporation ("FCBC") and JAMES E. MCGOOKEY
(the "Employee"), WITNESSETH THAT:

            WHEREAS, FCBC has been organized as a financial holding company and
has various subsidiaries that provide financial and non-financial products and
services (FCBC and all entities that are subsidiaries of FCBC, including those
subsidiaries created in the future, are collectively referred to as the
"Companies" and may be separately referred to as the Company.); and

            WHEREAS, FCBC will retain the Employee to provide legal and
managerial services on behalf of the Companies; and

            WHEREAS, the Employee desires to accept employment with FCBC upon
the terms and conditions described herein.

            NOW, THEREFORE, in consideration of the premises and the mutual
covenants and conditions contained herein, the parties agree as follows:

            1. EMPLOYMENT AND TERM. FCBC hereby agrees to retain the Employee,
and the Employee hereby accepts employment, based upon the terms and conditions
set forth in this Agreement. This Agreement shall commence on a date to be
designated by the Employee (the "Commencement Date"), which date shall not be
later than January 1, 2003, and shall continue for a period of five (5) years
after the Commencement Date, or until otherwise terminated in accordance with
its provisions (the "Term").

<PAGE>

            2. DUTIES. During the Term, the Employee shall be employed as a
senior vice president and the general counsel of FCBC. The Employee may, at the
sole option of FCBC, be named to similar offices at any or all of the other
Companies. The Employee's duties shall include direct day-to-day oversight of
the legal affairs of the Companies and such other duties consistent therewith,
as may, from time to time, be assigned by FCBC or its appropriate corporate
officers. The Employee will provide the general corporate, contractual and other
general legal services needed by the Companies; provided, however, that the
parties anticipate that (a) collection matters and other litigation, (b) matters
that exceed the qualifications or experience of the Employee, and (c) matters
that exceed the time reasonably available to the Employee will be referred to
other legal counsel. The Employee will also participate in the management of the
Companies in the specific respects requested, from time to time, by FCBC or its
appropriate corporate officers. The Employee will devote his full professional
working time to the business of the Companies; provided that he shall have a
reasonable opportunity to conclude such legal matters as he has previously
accepted but has been unable to finish by the Commencement Date. The Employee
shall use his best efforts to perform any work needed to finish such matters
outside of FCBC's normal working hours.

            3. COMPENSATION. During the Term, in consideration of the Employee's
performance of his duties and obligations, FCBC shall provide the Employee with
the compensation described herein. The Employee's compensation shall be subject
to and reduced by any applicable withholding, social security or other taxes and
any other legally required deductions.

                                       2
<PAGE>

            (a)   SALARY. During the Term, FCBC shall pay to the Employee a
                  gross salary calculated at the rate of One Hundred Thirty-Five
                  Thousand Dollars ($135,000.00) per annum. The salary of the
                  Employee shall be reviewed annually, giving due consideration
                  to his performance, the financial performance of FCBC, the
                  increases awarded to similar officers of the Companies and all
                  other relevant factors. The Employee shall be considered for
                  increases in light of such factors. The salary of the Employee
                  shall not be decreased.

            (b)   FRINGE BENEFITS. During the Term, FCBC shall make available to
                  the Employee those fringe benefits, including medical and
                  retirement benefits, which are offered to, and upon the same
                  terms and conditions that are applicable to, the executive
                  officers of the Companies. The Employee shall be entitled to
                  four (4) weeks vacation each calendar year beginning in 2003.

            (c)   EXPENSES. FCBC shall reimburse the Employee for all of his
                  reasonable and appropriate out-of-pocket expenses incurred in
                  the course of his employment, which shall include (but not be
                  limited to):

                  (i)   travel and related expenses incurred to perform his
                        duties while away from the main office of FCBC;

                  (ii)  normal expenses and dues necessary to maintain his
                        license to practice law and his membership in any
                        professional organizations to which he presently
                        belongs;

                                       3
<PAGE>

                  (iii) reasonable continuing education expenses; and

                  (iv)  any professional insurance appropriate respecting
                        Employee's activities.

            The Employee shall submit any reports and/or documentation
reasonably requested by FCBC to verify and support a request for reimbursement
of expenses.

            4. TERMINATION. FCBC shall have the right to terminate the
Employee's employment for Cause (as defined herein). "Cause" shall consist of
any one or more of the following:

            (a)   The Employee's death;

            (b)   Refusal, failure or inability (except as limited by law or the
                  policies of the Companies in the event of a disability) of the
                  Employee to perform his duties.

            (c)   Any dishonesty or defalcation by Employee whether it occurred
                  in securing his employment or in performing his duties;

            (d)   Any employment or activity of the Employee which FCBC
                  reasonably deems to be in material conflict with the
                  Employee's duties or to present a material risk of injury or
                  harm to FCBC.

            (e)   Employee's material breach of, or failure to comply with, any
                  provision or term of this Agreement; or

            (f)   Employee's performance of any material act, or bad faith
                  failure to take any reasonable action, which detrimentally
                  affects the Employee's ability to perform his duties.

                                       4
<PAGE>

            If the Employee's employment is terminated in accordance with this
paragraph 4, then upon the effective date of termination, FCBC shall only be
obligated to pay the Employee that proportionate part of the Employee's base
salary which is allocable solely to the period prior to termination, less any
sums previously paid for such period.

            5. RETURN OF PROPERTY. Upon the termination of this Agreement for
any reason, the Employee will immediately surrender to FCBC, in good condition,
the books, accounts, records, memoranda, keys, computer disks, computer
passwords, any credit cards, and any other property or information of any
nature, tangible or intangible, which are in Employee's possession or under his
control and which belong to FCBC. In the event that any of such items are not
returned, FCBC shall have the right to recover such property or to recover or
deduct from any compensation payable to the Employee the value, or, at FCBC's
sole option, the replacement costs of such items, plus all proper and reasonable
costs, attorneys' fees and expenses incurred in searching for, taking, removing,
and recovering such property or its value or replacement cost.

            6. CONFIDENTIALITY. The Employee agrees that all knowledge or
information concerning the Companies' business operations, business plans,
finances, financial products, customers, marketing and interest-setting policies
and the names and financial information concerning all persons or entities that
do business with the Companies, except information which is now or hereafter
becomes part of the public domain through no fault of the Employee, constitute
"Confidential Information" of the Companies. The Employee agrees that he shall
not divulge or disclose any Confidential Information of the Companies and shall
not use Confidential Information of the Companies for his benefit or to the
detriment of the Companies.

                                       5
<PAGE>

            7. SURVIVAL, INDEPENDENT CONSTRUCTION AND REMEDIES. The covenants
and obligations of the Employee contained in paragraph 6 of this Agreement shall
survive any termination of this Agreement. They are of the essence of this
Agreement and shall be construed as independent of any other provisions of this
Agreement. The existence of a claim or cause of action of the Employee against
the Companies, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by FCBC of these covenants and
provisions.

            The Employee acknowledges that a breach of any of the provisions of
paragraph 6 will cause continuing and irreparable harm to FCBC for which it
would not be compensated adequately by money damages. The Employee agrees that,
in the event of an actual or threatened breach, in addition to any other
remedies available to it, FCBC should be entitled to immediate and permanent
injunctions to prevent the Employee from such activity.

            8. ASSIGNMENT. The Employee's rights and obligations under this
Agreement are personal and are not transferable by assignment or otherwise, and
any attempt to do so shall be void. FCBC's rights and obligations under this
Agreement are assignable if such assignment is related to the merger of FCBC
with another financial services entity, or related to the sale or transfer of
substantially all of the assets of FCBC.

            9. NOTICE. All notices, requests, demands or instructions may, or,
when required by this Agreement, shall, be in writing and delivered in person or
sent by certified mail (or regular mail if the certified mail is returned
unclaimed) postage prepaid and addressed as follows:

                                       6
<PAGE>

            TO THE EMPLOYER:          First Citizens Banc Corp
                                      c/o The Citizens Banking Company
                                      P.O. Box 5016
                                      Sandusky, Ohio 44870
                                      Attn:  David A. Voight

            TO THE EMPLOYEE:          James E. McGookey
                                      3221 Country Club Lane
                                      Huron, Ohio 44839

A notice shall be effective upon the actual receipt of it, except in the case of
notice by regular mail, which shall be deemed effective three (3) days after it
is delivered to the U.S. Postal Service. Either party may, by notice to the
other, change its or his address for the purpose of any future notice to that
party.

            10. SEVERABILITY. Whenever possible, each provision of this
Agreement will be interpreted in a manner that is effective and valid under
applicable law, but, if any provision of this Agreement is held to be invalid,
illegal, or unenforceable under any applicable law or rule in any jurisdiction,
such provision will be ineffective only to the extent of the invalidity,
illegality, or unenforceability in that jurisdiction. The remainder of this
Agreement, and the application of the provision to other persons and
circumstances or in other jurisdictions, shall not be affected hereby, and the
intent of the parties as set forth herein shall be enforced to the fullest
extent permitted by law. The parties shall attempt to replace any invalid
provision with a legally valid provision which follows the original intent of
the parties as closely as possible.

            11. TITLES AND CAPTIONS. All titles and captions are for convenience
only, and do not form a substantive part of this Agreement, and shall not
restrict or enlarge any substantive provisions of this Agreement.

                                       7
<PAGE>

            12. PRONOUNS. All pronouns and any variations thereof shall be
deemed to refer to the masculine, feminine, neuter, singular or plural, as the
identity of the person or persons may require.

            13. WAIVER OR MODIFICATION. No provisions of this Agreement may be
waived, changed, modified or discharged orally but only by an agreement in
writing signed and executed by the party against whom enforcement of any waiver,
change, modification or discharge is sought. No delay on the part of any party
in the exercise of any rights or remedy shall operate as a waiver thereof. The
failure of either party to insist in any one or more instances, upon the
performance of any of the terms or conditions of this Agreement shall not be
construed as a waiver or relinquishment of any right granted hereunder or of the
future performance of any such term, covenant or condition, but the obligations
of either party with respect thereto shall continue in full force and effect.

            14. ENTIRE AGREEMENT. This Agreement contains the entire
understanding between the parties and supersedes any prior understandings and
agreements between them respecting the within subject matter. There are no
representations, agreements or understandings, oral or written, between or among
the parties hereto relating to the subject matter of this Agreement which are
not fully expressed herein.

            15. BINDING EFFECT. This Agreement shall inure to the benefit of,
and shall be binding upon, the parties, their heirs, executors, successors and
assigns.

                                       8
<PAGE>

            IN WITNESS WHEREOF, the parties have executed this Employment
Agreement this ______ day of ________________, 2002.

SIGNED AND ACKNOWLEDGED               FCBC:
IN THE PRESENCE OF:                   FIRST CITIZENS BANC CORP

/s/ Lisa K. Rhenish                   By: /s/ David A. Voight
-------------------                       -------------------
Witness                               Its: President

/s/ Kathleen A. Bodi
--------------------
Witness

                                      EMPLOYEE:

/s/ Lisa K. Rhenish                   /s/ James E. McGookey
-------------------                   ---------------------
Witness                               James E. McGookey

/s/ Kathleen A. Bodi
--------------------
Witness

                                       9

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