Document:

gmo_Ex10_4

		
			Exhibit 10.4
		

		
			 
		

		
			STAY INCENTIVE AGREEMENT
		

		
			 
		

		
			THIS AGREEMENT is entered into between GENERAL MOLY, INC., (“Company”), a Delaware corporation, whose mailing address is 1726 Cole Blvd., Suite 115, Lakewood, CO 80401, and Amanda Corrion (“Employee”), whose address is 6040 Wright Street, Arvada, CO  80004.
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			WHEREAS, Company wishes to have Employee continue her employment with Company through the critical phase of procuring financing for the construction of the Mt. Hope Project;
		

		
			 
		

		
			WHEREAS, Employee wishes to continue employment with Company as Principal Accounting Officer; and
		

		
			 
		

		
			WHEREAS, Company agrees to provide a Restricted Stock Award to Employee, expressly conditioned upon the terms and conditions described within this Agreement.
		

		
			 
		

		
			AGREEMENT
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the foregoing recitals and for the covenants and conditions hereinafter contained, the parties hereto agree as follows:
		

		
			 
		

		
			1.         Term of Agreement.  This Agreement shall be in effect from January 16, 2018 “Beginning Date”), and end on the earlier of (“End Date”):
		

		
			 
		

		
			(a)        The date upon which approval of a Financing Program for the construction of the Mt. Hope Project is made by the Company’s Board of Directors;
		

		
			 
		

		
			(b)        The occurrence date of a “Change of Control”, as later defined herein;
		

		
			 
		

		
			(c)        The date of an involuntary termination of Employee from the Company, absent “Cause”, as later defined herein, by the Company; or
		

		
			 
		

		
			(d)        January 16, 2019.
		

		
			 
		

		
			2.         Restricted Stock Unit Award.  Company agrees to grant an award of 120,000 Restricted Stock Units (the "RSUs") in accordance with the terms of the Company 2006 Equity Incentive Program and applicable Restricted Stock Units Agreement between Company and Employee, which shall be incorporated by reference.  The RSUs shall vest in full in accordance with the terms of the Restricted Stock Unit Agreement on the End Date provided that Employee has remained continuously employed by Company from the Beginning Date through the End Date.  All terms and conditions of the award of the RSUs shall be governed by the Restricted Stock Units Agreement.
		

		
			
		

		
			

		 

		

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			3.         At Will Employment Status.  This Agreement is not an employment agreement and does not guarantee Employee employment with Company for any specific period of time.  Employee shall remain at all times an employee at will whose employment may be terminated by either party at any time, with or without cause.
		

		
			 
		

		
			4.         Confidentiality.  Employee expressly agrees to keep the substance and terms of this Agreement strictly confidential.  With the exception of immediate family, tax advisors, and attorneys, Employee further agrees that she will not communicate (orally or in writing) or in any way disclose the terms of this Agreement to any person without the prior express written consent of Company, unless compelled to do so by law.  Employee acknowledges that Company may be required to disclose the terms, and file a copy of this Agreement pursuant to applicable securities laws or other legal requirements.
		

		
			 
		

		
			5.         Compliance with Section 409A.
		

		
			 
		

		
			Delay in Payment. Notwithstanding anything in the Agreement to the contrary, if Employee is deemed by the Company at the End Date for purposes of payment of the Stay Incentive Award to be a “specified employee” under Section 409A of the Internal Revenue Code, as amended (“Code’) then any such payment which would otherwise be payable hereunder shall not be paid until the date which is the first business day following the six-month period after the End Date (or earlier, upon Employee’s death).
		

		
			 
		

		
			Interpretation. The parties intend that all payments or benefits payable under the Agreement will not be subject to the additional tax imposed by Section 409A, and the provisions of the Agreement shall be construed and administered consistent with such intent. To the extent such potential payments could become subject to Section 409A, the Company and Employee agree to work together to modify the Agreement to the minimum extent necessary to reasonably comply with the requirements of Section 409A, provided that the Company shall not be required to provide any additional compensation amounts or benefits and Employee shall be responsible for payment of any and all taxes owed in connection with the payment of the Stay Incentive Award.
		

		
			 
		

		
			6.         Certain Definitions.
		

		
			 
		

		
			(a)        “Cause” means the good faith determination by the Company that:
		

		
			 
		

		
			i.    Employee has neglected, failed or refused to perform Employee’s duties (other than as a result of physical or mental illness);
		

		
			 
		

		
			ii.   Employee has failed to timely attain the goals assigned to Employee by the Company, in its good faith judgment, from time to time;
		

		
			 
		

		
			iii.  Employee has committed an act of personal dishonesty including, without limitation, an act or omission intended to result in personal enrichment of Employee at the expense of the Company;
		

		
			
		

		
			

		 

		

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			iv.  Employee has committed a willful or intentional act that could reasonably be expected to injure the reputation, business, or business relationships of the Company or Employee’s reputation or business relationships;
		

		
			 
		

		
			v.   Employee has perpetrated an intentional fraud against or affecting the Company or any customer, supplier, client, agent, or employee thereof;
		

		
			 
		

		
			vi.  Employee has been convicted (including conviction on a nolo contendere, no contest, or similar plea) of a felony or any crime involving fraud, dishonesty, or moral turpitude.
		

		
			 
		

		
			With respect to any of the matters set forth in (i) or (ii) above, the Company shall give Employee notice of the deficiency and a reasonable opportunity to correct the deficiency (not to exceed thirty (30) days) prior to termination. In the event that the Company has given notice of a deficiency and makes a determination that the deficiency has not been cured within a reasonable period of time, Employee’s employment may be terminated for Cause.
		

		
			 
		

		
			(b)        “Change of Control” means:
		

		
			 
		

		
			i.   The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Agreement, the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, or (iii) any acquisition by any employee benefit Program (or related trust) sponsored or maintained by the Company or any Affiliate; or
		

		
			 
		

		
			ii.   Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or the acquisition of assets or stock of another entity by the Company (each, a “Business Combination”), in each case unless, following such Business Combination, (i) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets
		

		
			
		

		
			

		 

		

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			either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, and (ii) no Person (excluding any corporation resulting from such Business Combination or any employee benefit Program (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 50% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination; or
		

		
			 
		

		
			iii.  Individuals who, as of the date hereof, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or
		

		
			 
		

		
			iv.  A sale or disposition of all or substantially all of the operating assets of the Company to an unrelated party; or
		

		
			 
		

		
			v.   Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.
		

		
			 
		

		
			7.         Additional Provisions.
		

		
			 
		

		
			(a)        This Agreement constitutes the entire agreement between the parties concerning the grant of a Restricted Stock Unit Award.  This Agreement does not affect any other agreements between Company and Employee.  This Agreement may not be modified or amended except by a written instrument signed by both parties.
		

		
			 
		

		
			(b)        This Agreement and the provisions hereof shall be construed, given effect and governed by the laws of the State of Colorado, and in the event of a breach of this Agreement by any of the parties, in addition to other specific remedies herein, the other party shall have all remedies at law or equity provided by the laws of the State of Colorado.  Venue for any action shall be in the United States District Court for the District of Colorado or the District Court of Jefferson County, Colorado.  Each party waives any objection they might have to the laying of venue in such courts, including but not limited to objections based on lack of personal jurisdiction, improper venue, or inconvenience of the forum.
		

		
			
		

		
			

		 

		

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			(c)        Each party has reviewed this Agreement and has had the opportunity to consult with counsel regarding the provisions thereof, and accordingly, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Agreement.
		

		
			 
		

		
			(d)        The parties hereby unconditionally waive their right to a jury trial of any claim or cause of action based upon or arising out of, directly or indirectly, this Agreement.
		

		
			 
		

		
			(e)        If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain fully enforceable according to their terms.
		

		
			 
		

		
			(f)        This Agreement may be executed in counterparts, including fax or other electronic counterparts, and all counterparts together shall constitute one executed agreement.
		

		
			 
		

		
			 
		

		
			 
		

		
			DATED this 9th day of January, 2018.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						GENERAL MOLY, INC.:

					
					
						    

					
					
						EMPLOYEE:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By

					
					
						/s/ R. Scott Roswell  1/9/18

					
					
						 

					
					
						/s/ Amanda Corrion  1/9/18

				
	
					
						R. Scott Roswell / date

					
					
						 

					
					
						Amanda Corrion / date

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Chief Legal Officer

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		 

		

			5Exhibit

Heartland Financial USA, Inc.

2012 Long-Term Incentive Plan

Time-Based Restricted Stock Unit Award Agreement

The Participant specified below is hereby granted a restricted stock unit award by Heartland Financial USA, Inc. (the “Company”), under the Heartland Financial USA, Inc. 2012 Long-Term Incentive Plan (as amended and restated, the “Plan”).  The restricted stock units awarded by this Award Agreement (this “Agreement”) shall be subject to the terms of the Plan and the terms set forth in this Agreement.  All capitalized terms used in this Agreement and not otherwise defined have the meaning assigned to them in the Plan.

Section 1.Award.  The Company hereby grants to the Participant an award of restricted stock units (each such unit, an “RSU”), where each RSU represents the right of the Participant to receive one share of Company stock (“Share”) in the future, subject to the terms of this Agreement and the Plan.  For purposes of this Agreement:

The “Participant” is ______________________________.
The “Grant Date” is ______________________________.
The number of RSUs is _____________________________.

Section 2.Vesting of RSU.

(a)The RSUs shall vest with respect to one-third (1/3) of the RSUs (rounded down to the nearest whole number and fully vested on the third vesting date) on March 6 of each of the three years following the year of the grant, or the nearest prior business day if March 6 is not a business day (such date, or such earlier date on which the RSU shall vest pursuant to this Section 2 being hereafter referred to as the “Vesting Date”); provided that the Participant’s Termination of Service has not occurred prior to the Vesting Date.  A “Termination of Service” shall mean the Participant’s cessation of employment with the Company.  The price at which the RSUs shall vest is the fair market value of Company stock at closing on the business day prior to the Vesting Date.

(b)Notwithstanding the foregoing provisions of this Section 2, the RSUs shall become fully vested immediately upon (i) the Participant’s Disability, or (ii) the Participant’s death. 

(c)Notwithstanding the foregoing provisions of this Section 2, if the Participant’s Termination of Service occurs due to a Qualifying Retirement, all RSUs shall become vested as of the date of such Termination of Service due to Qualifying Retirement.  For such purposes, a “Qualifying Retirement” means a voluntary Termination of Services by the Participant on or after the date the Participant reaches the age of 62, and provided that (A) the Participant has provided at least five (5) years of full-time equivalent services to the Company or a Subsidiary through the date of such Termination of Services; (B) the Participant covenants that the Participant shall not engage in any full-time employment with any entity thereafter (although Participant shall be entitled to engage in part-time employment, including services as a member of a board of directors or similar body, with an entity that does not compete with the Company or any Subsidiary) unless such employment has been approved in writing by the Chair of the Committee; (C) the Participant executes a general release and waiver of claims against the Company at the time of such Termination of Services; and (D) the Participant executes a confidentiality, non-solicitation, and non-competition agreement with the Company at the time of such Termination of Service.  Consistent with Section 5.2 of the Plan, any question regarding whether a voluntary Termination of Service constitutes a Qualifying Retirement shall be determined by the Committee and the decision of the Committee shall be final and binding upon the Participant.

(d)Immediately upon a Change in Control, if the obligations under this Agreement are not assumed by the Company or its successor in such Change in Control, all RSUs that have not been previously forfeited shall become vested.  Otherwise, if the obligations under this Agreement are assumed by the Company or its successor in such Change in Control, and if a Participant’s employment by the Company or Bank or successor of the Company or Bank shall become subject to a Termination of Service within the period beginning six months prior to a Change in Control and ending 24 months after a Change in Control, all RSUs then held by the Participant shall become vested upon the later to occur of the Termination of Service or Change in Control.  The foregoing provisions are subject to any forfeiture and expiration provisions otherwise applicable to the RSUs.

(e)Except as set forth in Section 2(b), Section 2(c) and Section 2(d) above, upon the Participant’s Termination of Service, Participant shall forfeit all RSUs that have not vested as of such Termination of Service and Participant shall have no further rights under this Agreement.

Section 3.Precondition of Award.  No Award of RSUs to a Participant will be effective unless Participant executes the Nonsolicitation Agreement attached as Exhibit A.

Section 4.Settlement of RSUs.  Delivery of Shares or other amounts under this Agreement and the Plan shall be subject to the following:

(a)Delivery of Shares.  The Company shall deliver to the Participant one Share free and clear of any restrictions in settlement of each of the vested and unrestricted RSUs within 30 days after such RSU becomes vested. Only whole Shares shall be issued, with any fractional RSUs rounded down to the nearest whole Share.

(b)Compliance with Applicable Laws.  Notwithstanding any other term of this Agreement or the Plan, the Company shall have no obligation to deliver any Shares or make any other distribution of benefits under this Agreement or the Plan unless such delivery or distribution complies with all applicable laws and the applicable rules of any securities exchange or similar entity.

(c)Certificates Not Required.  To the extent that this Agreement and the Plan provide for the issuance of Shares, such issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of any securities exchange or similar entity.

Section 5.Withholding.  All deliveries of Shares pursuant to this Award shall be subject to withholding of all applicable taxes.  The Company shall have the right to require the Participant (or if applicable, permitted assigns, heirs and Designated Beneficiaries) to remit to the Company an amount sufficient to satisfy any tax requirements prior to the delivery date of any Shares in connection with this Agreement.  Except as may be provided otherwise by the Committee, such withholding obligations may be satisfied at the election of the Participant (a) through debit of a deposit account held by the Participant at a Heartland affiliated bank, or (b) through the surrender of Shares to which the Participant is otherwise entitled under the Plan; provided, however, that except as otherwise specifically provided by the Committee, such Shares under clause (b) may not be used to satisfy more than the Company’s minimum statutory withholding obligation.

Section 6.Non-Transferability of RSUs.  No RSU granted pursuant to this Agreement is transferable except as designated by the Participant by will or by the laws of descent and distribution or pursuant to a domestic relations order.  Except as provided in the immediately preceding sentence, this Agreement shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process.  Any attempt at assignment, transfer, pledge, hypothecation or other disposition of this Agreement contrary to the provisions hereof, or the levy of any attachment or similar process upon this Agreement or the RSUs it represents, shall be null and void and without effect.

Section 7.No Rights as Stockholder.  The Participant shall not have any rights of a Stockholder with respect to the RSUs, including but not limited to, dividend or voting rights, prior to the settlement of the RSUs pursuant to Section 4(a) above and issuance of a stock certificate or its equivalent as provided herein.

Section 8.Heirs and Successors.  This Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring all or substantially all of the Company’s assets or business.  If any rights of the Participant or benefits distributable to the Participant under this Agreement have not been settled or distributed at the time of the Participant’s death and have not been designated to pass to a certain beneficiary, such rights shall be provided to the legal representative of the estate of the Participant.  

Section 9.Administration.  The authority to manage and control the operation and administration of this Agreement and the Plan shall be vested in the Committee, and the Committee shall have all powers with respect to this Agreement as it has with respect to the Plan.  Any interpretation of this Agreement or the Plan by the Committee and any decision made by the Committee with respect to this Agreement or the Plan shall be final and binding on all persons.

Section 10.Plan Governs.  Notwithstanding anything in this Agreement to the contrary, this Agreement shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the Human Resources Department of the Company.  This Agreement shall be subject to all interpretations, amendments, rules and regulations promulgated by the Committee from time to time.  Notwithstanding any term of this Agreement to the contrary, in the event of any discrepancy between the corporate records of the Company and this Agreement, the corporate records of the Company shall control.

Section 11.Not an Employment Contract.  Neither the RSUs granted under this Agreement nor this Agreement shall confer upon the Participant any rights with respect to continuance of employment or other service with the Company or a Subsidiary, nor shall they interfere in any way with any right the Company or a Subsidiary may otherwise have to terminate or modify the terms of the Participant’s employment or other service at any time.

Section 12.Amendment.  Without limitation of Section 15 and Section 16 below, this Agreement may be amended in accordance with the provisions of the Plan, and may otherwise be amended in writing by the Participant and the Company without the consent of any other person.

Section 13.Governing Law.  This Agreement, the Plan and all actions taken in connection herewith and therewith shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws, except as superseded by applicable federal law.

Section 14.Validity.  If any provision of this Agreement is determined to be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Agreement shall be construed and enforced as if such illegal or invalid provision had never been included herein.

Section 15.Section 409A Amendment.  This Agreement is intended to be exempt from Code Section 409A and this Agreement shall be administered and interpreted in accordance with such intent.  The Committee reserves the right (including the right to delegate such right) to unilaterally amend this Agreement without the consent of the Participant in order to maintain an exclusion from the application of, or to maintain compliance with, Code Section 409A; and the Participant hereby acknowledges and consents to such rights of the Committee.

Section 16.Clawback.  This Agreement, the RSUs and any Shares received under this Agreement, and any amount or benefit received under the Plan shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any applicable Company or Subsidiary clawback policy (the “Policy”) or any applicable law, as may be in effect from time to time.  The Participant hereby acknowledges and consents to the Company’s or a Subsidiary’s application, implementation and enforcement of (a) the Policy and any similar policy established by the Company or a Subsidiary that may apply to the Participant, whether adopted prior to or following the date of this Agreement, and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and agrees that the Company or a Subsidiary may take such actions as may be necessary to effectuate the Policy, any similar policy and applicable law, without further consideration or action.

*    *    *    *    *

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its name and on its behalf, and the Participant acknowledges understanding and acceptance of, and agrees to, the terms of this Agreement, all as of the Grant Date.  This Agreement and any amendments or supplements hereto may be executed in counterparts, each of which shall constitute an original, but taken together shall constitute a single contract.  Signature may be in electronic format, including by electronic acknowledgement.

HEARTLAND FINANCIAL USA, INC.
By:         Lynn B. Fuller
Print Name:     Lynn B. Fuller
Print Title:     Chairman and CEO

 PARTICIPANT
By:         Via Electronic Acknowledgment
Print Name:     

EXHIBIT A

NONSOLICITATION AGREEMENT

This NONSOLICITATION AGREEMENT (the “Agreement”) is entered into between Heartland Financial USA, Inc., and its Affiliates (the “Company”) and the undersigned Employee.

WHEREAS, the Company is engaged in the business of providing financial services including lending and deposit products and services, which includes all services and products related in any way to deposit products, certificates of deposit, lines of credit, mortgage loans, agricultural loans, consumer loans, credit cards, electronic banking cards, as well as Wealth Advisory and Investment Services (collectively, the “Services”).

WHEREAS, to maximize the quality of services it provides to its customers, the Company encourages its employees to develop and maintain a proper business and professional relationship with and provide beneficial and competitive Services to its customers;

WHEREAS, in furtherance of developing these relationships and services, the Company compensates its employees for their time, trains its employees, discloses to its employees certain Confidential Information (as that term is defined below), and commits its resources to the development of these relationships and Confidential Information; and

WHEREAS,  the Company’s customer and employee relationships represent a significant investment of the Company’s resources and are commercially important, and it is important that the Company protects its customers and employees from direct and indirect solicitation by competitor and former employees.

NOW, THEREFORE, in consideration of the Employee’s employment, the Employee’s access to Confidential Information, the Employee’s eligibility for discretionary compensation plans and programs in addition to any regular compensation, and the mutual covenants and promises set forth herein, the parties agree as follows:

		
	1.
	Definitions. For purpose of this Agreement and except as otherwise provided for herein, these terms shall have the following definitions:

Affiliate means any US or foreign person related to the Company through ownership or through franchise or license agreements granted by the Company or an affiliate, including without limitation Arizona Bank & Trust, Citywide Banks, Citizens Finance, Dubuque Bank and Trust Company, First Community Bank, Illinois Bank & Trust, Minnesota Bank & Trust, Morrill & Janes Bank and Trust Company, New Mexico Bank & Trust, Premier Valley Bank, Rocky Mountain Bank, and Wisconsin Bank & Trust.

Confidential Information means trade secrets, intellectual property, and other proprietary information of the Company and its Affiliates, By way of example and not limitation, Confidential Information includes:

		
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	operations, marketing, products, product development, and other plans;

		
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	compensation practices;

		
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	pricing and sales policies, techniques, and concepts;

		
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	customer lists, records, and documents;

		
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	prospective customer lists, records, and documents;

		
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	information regarding employees and suppliers of the Company;

		
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	the financial affairs of the Company;

		
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	training and other manuals and internal policies;

		
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	business opportunities or ventures being considered or pursued by the Company;

		
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	patents, trademarks, copyrights, inventions, works of authorship, ideas, processes, formulas, source code, programs, know how, and improvements; and

		
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	any other Company information in any form that is not generally known to any competitor of the Company or any other Person who could derive economic value from such information.

Person shall have the meaning ascribed in section 13(h)(8)(E) of the Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq., and also includes any corporation, business venture, sole proprietorship, trust, and association.

		
	2.
	Nonsolicitation

		
	a.
	Customers. During the period of employment and for one year thereafter, the Employee shall not, without the prior written consent of the Company, solicit, call on, sell to, encourage, or arrange to have any other person solicit, call on, sell to, or otherwise provide any Services or any other competitive product or service designed, developed, distributed, sold, or marketed by the Company or its Affiliates during the period of the Employee’s employment by the Company to any of the customers of the Company. This subsection 2.a. shall not prohibit the Employee from providing any services or products that the Company does not offer as of the time of the Employee’s termination of employment with the Company. 

		
	b.
	Company Employees.  During the period of employment and for one year thereafter, the Employee shall not, without the prior written consent of the Company, solicit, recruit, encourage, or arrange to have any other Person solicit, recruit or encourage any Company employee to terminate his/her employment with the Company to seek employment with a bank, credit union, financial institution, investment company, or other Person who competes directly or indirectly with the Company.

		
	3.
	Choice of Law; Remedies. This Agreement shall be interpreted according to the laws of the state in which the entity for which the Employee works is headquartered. The parties agree that, regardless of any choice of law provisions of any jurisdiction, the Agreement shall be enforceable in any Court of competent jurisdiction in that state, and the parties expressly consent to the jurisdiction therein. The Company shall be entitled to an injunction to enforce this Agreement, as well as any other remedies at law or in equity. Should the Company need to commence legal action to enforce any provision of this Agreement or protects its rights under the Agreement; the Company shall recover its attorneys’ fees incurred in such legal action.

		
	4.
	Successors. This Agreement shall inure to the benefit of and shall be enforceable by any Affiliate and by any successor or assignee of the Company and or any Affiliate.

		
	5.
	Prior Agreements. This Agreement is intended as a clarification and amplification of any existing prior agreements between the parties, which prior agreements relate to the subject matter of the Agreement.

		
	6.
	Amendment.  No changes in or additions to the terms of this Agreement shall be valid or binding unless reduced to writing and signed by both parties.

		
	7.
	Severability.  The Employee and the Company agree that the covenants contained in this Agreement, or any of its paragraphs, sentences, or clauses are severable and separate, and the enforceability of any specific covenant or restriction shall not affect the validity or enforceability of any other covenant or restriction set forth herein.  Each such covenant on the part of the Employee shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of the Employee against the Company or any Affiliate whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement of the Company of said covenants.

		
	8.
	Waiver of Default. Any waiver by the Company of any default or violation under this Agreement shall not constitute a waiver of any other default or violation on a different occasion.

		
	9.
	Termination; Effective Date.  The Employee’s employment may be terminated by either the Company or the Employee in accordance with applicable law. This Agreement shall be in effect commencing on the date of the Agreement and, except as expressly provided for in this Agreement, shall continue in effect for one year after the Employee ceases to be employed by the Company.

		
	10.
	Consent.  The Employee acknowledges that he/she has had sufficient time to read, has read, and understands this Agreement. The Employee acknowledges having received a copy of this Agreement.

IN WITNESS WHEROF, the parties have hereto executed this Agreement.

	
				
	“Employee”
	 
	 
	“Company”

	 
	 
	 
	HEARTLAND FINANCIAL USA, INC.

	 
	 
	By:
	Lynn B. Fuller

	 
	 
	 

	Date:

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