Document:

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                                                                   EXHIBIT 10.58

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

         This Amended and Restated Employment Agreement (the "Agreement") is
made and entered into this 7th day of April, 2004, by and between Per-Se
Technologies, Inc. (formerly known as Medaphis Corporation), a Delaware
corporation (the "Company"), and Frank B. Murphy, a resident of the State of
Georgia ("Employee"). This Agreement amends, restates and supercedes the
Employment Agreement, dated as of June 5, 1998, between the Company and
Employee.

                       Statement of Background Information

         The Company through its Services Division, or otherwise, renders to
hospitals, physicians, and/or other healthcare organizations and providers: (a)
billing services, accounts receivable management services, collection services,
electronic claims services, financial management services, and practice and
facilities management services; (b) eligibility verification and certification
for Medicaid, Medicare and other healthcare assistance programs; (c) filing and
other medical claims securitization services; (d) medical coverage information
services; (e) medical and insurance claims monitoring and tracking services; (f)
physician practice management services; (g) physician network management
services; and (h) managed care services (collectively, the "Business").

                             Statement of Agreement

         In consideration of the mutual covenants, promises and conditions set
forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

         1.       Employment. Effective as of April 8, 2004 (the "Amendment
Effective Date"), the Company hereby employs Employee and Employee hereby
accepts such employment upon the terms and conditions set forth in this
Agreement. For purposes of Sections 6 and 7 of this Agreement (but not for any
other purpose), "employment" shall mean any period of time during which the
Company is paying Employee salary, wages, or any other amounts, whether or not
Employee is currently performing services for the Company at the time of such
payment.

         2.       Duties of Employee. From and after the Amendment Effective
Date, Employee will be employed as a part-time employee of the Company,
reporting to the Chief Executive Officer. Employee's primary responsibilities to
the Company in such part-time capacity will be to provide advice and counsel
with respect to pending and potential litigation that relates to matters that
were within the scope of Employee's former service as president of the Company's
Physician Services division. Employee agrees to perform and discharge such
related duties as may be assigned to Employee from time to time by the Company
to the reasonable satisfaction of the Company. Employee also agrees to comply
with all applicable Company policies, standards and regulations as promulgated
by the officers of the Company and to follow the instructions and directives of
Employee's superiors within the Company. The Company acknowledges that as a
part-time employee, Employee may devote substantial portions of his professional
and business-

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related time to other matters unrelated to the Business of the Company,
including without limitation serving as the Chief Executive Officer of Smart
Document Solutions, Inc.

         3.       Term. This Agreement is terminable at will by either party at
any time, upon ten (10) days' prior notice to the other. Upon such termination
by either party, the Company shall have no further obligations to Employee under
this Agreement other than payment to Employee of (i) Employee's base salary
through the date of termination to the extent not theretofore paid, and (ii) any
other amounts or benefits required to be paid or provided or which Employee is
eligible to receive under any plan, program, policy or practice of the Company,
in each case to the extent theretofore unpaid.

         4.       Compensation and Benefits.

                  (a)      Annual Salary. During the term of this Agreement from
and after the Amendment Effective Date, for all services rendered by Employee
under this Agreement, the Company will pay Employee a base salary at the rate of
Twelve Thousand Dollars and No/100 ($12,000.00) per annum in, payable in
accordance with the Company's payroll practices as in effect from time to time.

                  (b)      No Incentive Compensation. Employee shall not be
eligible to participate in the Company's incentive compensation plans and
programs from and after the Amendment Effective Date. However, any equity awards
from the Company held by Employee as of the Amendment Effective Date will
continue to vest for as long as Employee is employed by the Company under the
terms of this Agreement and such awards shall remain exercisable during the term
of this Agreement and for any post-termination exercise period specified in such
awards.

                  (c)      Other Benefits. Employee will be entitled to such
fringe benefits as may be provided from time to time by the Company to its
part-time employees.

                  (d)      Business Expenses. Employee will be reimbursed for
all reasonable expenses incurred in the discharge of Employee's duties under
this Agreement pursuant to the Company's standard reimbursement policies.

                  (e)      Withholding. The Company will deduct and withhold
from the payments made to Employee under this Agreement, state and federal
income taxes, FICA and other amounts normally withheld from compensation due
employees.

         5.       Non-Disclosure of Proprietary Information. Employee recognizes
and acknowledges that the Trade Secrets (as defined below) and Confidential
Information (as defined below) of the Company and its affiliates and all
physical embodiments thereof (as they may exist from time to time, collectively,
the "Proprietary Information") are valuable, special and unique assets of the
Company's and its affiliates' businesses. Employee further acknowledges that
access to such Proprietary Information is essential to the performance of
Employee's duties under this Agreement. Therefore, in order to obtain access to
such Proprietary Information, Employee agrees that Employee shall hold in
confidence all Proprietary Information and will not reproduce, use, distribute,
disclose, publish or otherwise disseminate any Proprietary Information, in whole
or in part, and will take no action causing, or fail to take any action
necessary to prevent causing, any Proprietary Information to lose its character
as Proprietary Information, nor will Employee

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make use of any such information for Employee's own purposes or for the benefit
of any person, firm, corporation, association or other entity (except the
Company and its affiliates) under any circumstances, except in each case with
the prior written consent of the Company.

         For purposes of this Agreement, the term "Trade Secrets" means
information, including, but not limited to, any technical or non-technical data,
a formula, pattern, compilation, program, device, method, technique, drawing,
process, financial data, financial plan, product plan, list of actual or
potential customers or suppliers, or other information similar to any of the
foregoing which derives economic value, actual or potential, from not being
generally known to, and not being readily ascertainable by proper means by,
other persons who can derive economic value from its disclosure or use. The term
"Confidential Information" means any and all data or information of the Company
or its affiliates, other than Trade Secrets, which is valuable to the Company or
its affiliates and which is not generally known to competitors of the Company or
its affiliates. The provisions of this Section 5 will apply during Employee's
employment by the Company and for a two (2) year period thereafter with respect
to Confidential Information, and during Employee's employment by the Company and
at any and all times thereafter with respect to Trade Secrets. These
restrictions will not apply to any Proprietary Information that is in the public
domain, provided that Employee was not responsible, directly or indirectly, for
such Proprietary Information entering the public domain without the Company's
prior written consent. This Section 5, along with Sections 6, 7, 8, 9, 10 and 11
of this Agreement, shall survive termination of this Agreement. Nothing in this
Agreement shall diminish the rights, of the Company and its affiliates regarding
the protection of trade secrets pursuant to applicable Georgia law.

         6.     (a)     Non-Competition Covenant. During Employee's employment
by the Company and for a period of two (2) years following any termination of
Employee's employment for whatever reason, Employee will not, directly or
indirectly, on Employee's own behalf or in the service of or on behalf of any
other individual or entity, compete with the Company within the Geographical
Area (as hereinafter defined). The term "compete" means to engage in, have any
equity or profit interest in, make any loan to or for the benefit of, or render
any services of any kind to, directly or indirectly, on Employee's own behalf or
in the service of or on behalf of any other individual or entity, either as a
proprietor, employee, agent, independent contractor, consultant, director,
officer, partner or stockholder (other than a stockholder of a corporation
listed on a national securities exchange or whose stock is regularly traded in
the over-the-counter market, provided that Employee at no time owns, directly or
indirectly, in excess of one percent (1.0%) of the outstanding stock of any
class of any such corporation) any business which provides Business products or
services. For purposes of this Agreement, the term "Geographical Area" means the
territory located within a seventy-five (75) mile radius of each facility for
which Employee has management responsibility during Employee's employment with
the Company.

                  (b)      Non-Solicitation of Clients Covenant. Employee agrees
that during Employee's employment by the Company and for a period of two (2)
years following the termination of Employee's employment for whatever reason,
Employee will not, directly or indirectly, on Employee's own behalf or in the
service of or on behalf of any other individual or entity, divert, solicit or
attempt to solicit any individual or entity (i) who is a client of the Company
at any time during the six (6) month period prior to Employee's termination of

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employment with the Company ("Client"), or was actively sought by the Company as
a prospective client, and (ii) with whom Employee had material contact while
employed by the Company to provide Business services or products to such Clients
or prospects.

                  (c)      Construction. The parties hereto agree that any
judicial authority construing all or any portion of this Section 6 or Section 7
below may, if it chooses, sever any portion of the Geographical Area, client
base, prospective relationship or prospect list or any prohibited business
activity from the coverage of such Section and to apply the provisions of such
Section to the remaining portion of the Geographical Area, the client base or
the prospective relationship or prospect list, or the remaining business
activities not so severed by such judicial authority. In addition, it is the
intent of the parties that the judicial authority may, if it chooses, replace
each such severed provision with a provision as similar in terms to such severed
provision as may be possible and be legal, valid and enforceable. It is the
intent of the parties that Sections 6 and 7 be enforced to the maximum extent
permitted by law. In the event that any provision of either such Section is
determined not to be specifically enforceable, the Company shall nevertheless be
entitled to bring an action to seek to recover monetary damages as a result of
the breach of such provision by Employee.

         7.       Non-Solicitation of Employees Covenant. Employee further
agrees and represents that during Employee's employment by the Company and for a
period of two (2) years following any termination of Employee's employment for
whatever reason, Employee will not, directly or indirectly, on Employee's own
behalf or in the service of or on behalf of any other individual or entity,
divert, solicit or hire away, or attempt to divert, solicit or hire away, to or
for any individual or entity which is engaged in providing Business services or
products, any person, employed by the Company for whom Employee had supervisory
responsibility or with whom Employee had material contact while employed by the
Company, whether or not such employee is a full-time employee or temporary
employee of the Company, whether or not such employee is employed pursuant to
written agreement and whether or not such employee is employed for a determined
period or at will.

         8.       Existing Restrictive Covenants. Employee represents and
warrants that Employee's employment with the Company does not and will not
breach any agreement which Employee has with any other employer to keep in
confidence confidential information or not to compete with any such other
employer. Employee will not disclose to the Company or use on its behalf any
Confidential information of any other party required to be kept confidential by
Employee.

         9.       Return of Proprietary Information. Employee acknowledges that
as a result of Employee's employment with the Company, Employee may come into
the possession and control of Proprietary Information, such as proprietary
documents, drawings, specifications, manuals, notes, computer programs, or other
proprietary material. Employee acknowledges, warrants and agrees that Employee
will return to the Company all such items and any copies or excerpts thereof and
any other properties, files or documents obtained as a result of Employee's
employment with the Company, immediately upon the termination of Employee's
employment with the Company.

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         10.      Proprietary Rights. During the course of Employee's employment
with the Company, Employee may make, develop or conceive of useful processes,
machines, compositions of matter, computer software, algorithms, works of
authorship expressing such algorithm, or any other discovery, idea, concept,
document or improvement which relates to or is useful to the Company's Business
(the "Inventions"), whether or not subject to copyright or patent protection,
and which may or may not be considered Proprietary Information. Employee
acknowledges that all such Inventions will be "works made for hire" under United
States copyright law and will remain the sole and exclusive property of the
Company. Employee also hereby assigns and agrees to assign to the Company, in
perpetuity, all right, title and interest Employee may have in and to such
Inventions, including without limitation, all copyrights, and the right to apply
for any form of patent, utility model, industrial design or similar proprietary
right recognized by any state, country or jurisdiction. Employee further agrees,
at the Company's request and expense, to do all things and sign all documents or
instruments necessary, in the opinion of the Company, to eliminate any ambiguity
as to the ownership of and rights of the Company to such Inventions, including
filing copyright and patent registrations and defending and enforcing in
litigation or otherwise all such rights. Employee will not be obligated to
assign to the Company any Invention made by Employee while in the Company's
employ which does not relate to any business or activity in which the Company is
or may reasonably be expected to become engaged, except that Employee is so
obligated if the same relates to or is based on Proprietary Information to which
Employee has had or will have had access during and by virtue of Employee's
employment or which arises out of work assigned to Employee by the Company.
Employee will not be obligated to assign any Invention which may be wholly
conceived by Employee after Employee leaves the employ of the Company, except
that Employee is so obligated if such Invention involves the utilization of
Proprietary Information obtained while in the employ of the Company. Employee is
not obligated to assign any Invention which relates to or would be useful in any
businesses or activities in which the Company is engaged if such Invention was
conceived and reduced to practice by Employee prior to Employee's employment
with the Company, whether pursuant to this Agreement or otherwise, provided that
all such Inventions are listed as of the date hereof on the attached Exhibit A.

         11.      Remedies. Employee agrees and acknowledges that the violation
of any of the covenants or agreements contained in Sections 5, 6, 7, 8, 9 and 10
of this Agreement would cause irreparable injury to the Company, that the remedy
at law for any such violation or threatened violation thereof would be
inadequate, and that the Company will be entitled, in. addition to any other
remedy, to temporary and permanent injunctive or other equitable relief without
the necessity of proving actual damages or posting a bond:

         12.      Notices. Any notice or communication under this Agreement will
be in writing and sent by registered or certified mail addressed to the
respective parties as follows:

                  If to the Company:                 If to Employee:

                  2840 Mt. Wilkinson Parkway         Frank B. Murphy
                  Suite 300                          5295 Woodridge Forest Trail
                  Atlanta, Georgia 30339             Atlanta, Georgia 30327
                  Attn: General Counsel

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         13.      Severability. Subject to the application of Section 17 to the
interpretation of Sections 6 and 7, in case one or more of the provisions
contained in this Agreement is for any reason held to be invalid, illegal or
unenforceable in any respect, the parties agree that it is their intent that the
same will not affect any other provision in this Agreement, and this Agreement
will be construed as if such invalid or illegal or unenforceable provision had
never been contained herein. It is the intent of the parties that this Agreement
be enforced to the maximum extent permitted by law.

         14.      Entire Agreement. This Agreement embodies the entire agreement
of the parties relating to the subject matter of this Agreement and supersedes
all prior agreements, oral or written, regarding the subject matter hereof. No
amendment or modification of this Agreement will be valid or binding upon the
parties unless made in writing and signed by the parties.

         15.      Binding Effect. This Agreement will be binding upon the
parties and their respective heirs, representatives, successors, transferees and
permitted assigns.

         16.      Assignment. This Agreement is one for personal services and
will not be assigned by Employee. The Company may assign this Agreement to any
of its subsidiaries or affiliated companies, provided that such subsidiary or
affiliate fulfills the obligations of the Company under this Agreement.

         17.      Governing Law. This Agreement is entered into and will be
interpreted and enforced pursuant to the laws of the State of Georgia. The
parties hereto hereby agree that an appropriate forum and venue for any disputes
between any of the parties hereto arising out of this Agreement shall be any
federal court in the state where the Company has its principal place of business
and each of the parties hereto hereby submits to the personal jurisdiction of
any such court. The foregoing shall not limit the rights of any party to obtain
execution of judgment in any other jurisdiction. The parties further agree, to
the extent permitted by law, that a final and nonappealable judgment against
either of them in any action or proceeding contemplated above shall be
conclusive and may be enforced in any other jurisdiction within or outside the
United States by suit on the judgment, a certified exemplified copy of which
shall be conclusive evidence of the fact and amount of such judgment.

         18.      Surviving Terms. Sections 5, 6, 7, 8, 9, 10, 11 and 17 of this
Agreement shall survive termination of this Agreement.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                           PER-SE TECHNOLOGIES, INC.

                                           By: /s/ PAUL J. QUINER
                                               -------------------------------

                                           EMPLOYEE:

                                           /s/ FRANK B. MURPHY
                                           -----------------------------------
                                           Frank B. Murphy

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                                    EXHIBIT A

                                   INVENTIONS

Employee represent that there are no Inventions.

                                              /s/ FBM
                                              ------------------
                                              Employee Initialsexv10w1

 

Exhibit 10.1

EMPLOYMENT AGREEMENT

     This
Employment Agreement (the “Agreement”) is made as of this
15th day of
March, 2004, by and between United Heritage Bank (the “Bank”), and David G.
Powers (the “Executive”).

WITNESSETH:

     WHEREAS, the Bank desires to retain the services of and employ the
Executive, and the Executive desires to provide services to the Bank, pursuant
to the terms and conditions of this Agreement.

     NOW, THEREFORE, in consideration of the promises and of the covenants and
agreements herein contained, the Bank and the Executive covenant and agree as
follows:

     1. Employment. Pursuant to the terms and conditions of this Agreement,
the Bank agrees to employ the Executive and the Executive agrees to render
services to the Bank as set forth herein. The Employment Agreement between the
Executive and the Bank dated March 15, 2001 is hereby terminated and replaced
by this Agreement.

     2. Position and Duties. During the term of this Agreement, the Executive
shall serve as a Director and as President and Chief Executive Officer of
United Community Bankshares of Florida, Inc. (the “Company”) and the Bank, and
shall undertake such duties, consistent with such titles, as may be assigned to
him from time to time by the Boards of Directors of the Company and the Bank,
as the case may be (referred to as the “Board”), including management of all
Bank personnel, serving on Board committees as appointed from time to time by
the Board, keeping the Board informed of industry and regulatory developments
regarding the Bank, coordinating with Bank personnel and third parties to the
extent necessary to further the profitability and business of the Bank, and
assisting in keeping the Bank in compliance with applicable laws and
regulations. In performing his duties pursuant to this Agreement, the
Executive shall devote his full business time, energy, skill and best efforts
to promote the Bank and its business and affairs; provided that, subject to
Sections 10, 12 and 13 of this Agreement, the Executive shall have the right to
manage and pursue personal and family interests, and make passive investments
in securities, real estate, and other assets, and also to participate in
charitable and community activities and organizations, so long as such
activities do not adversely affect the performance by Executive of his duties
and obligations to the Bank.

     3. Term. The initial term of employment pursuant to this Agreement shall
be for a period of three years, commencing with the date hereof and expiring
(unless sooner terminated as otherwise provided in this Agreement or unless
otherwise renewed or extended as set forth herein) on the third anniversary of
this Agreement, which date, including any earlier date of termination or any
extended expiration date, shall be referred to as the “Expiration Date”.
Subject to the provisions of Section 8 of this Agreement, the term of this
Agreement and the employment of the Executive by the Company hereunder shall be
deemed automatically renewed for successive periods of three years on each
anniversary date of this Agreement commencing

 

 

with the first anniversary of
this Agreement (i.e., March 15, 2005), unless the Executive receives written
notice from the Company that the term of this Agreement will not be
automatically renewed. In the event of the Executive’s receipt of such notice
from the Company that the term of this Agreement will not be renewed, then the
term of this Agreement shall end on the anniversary date of this Agreement
occurring three years after the anniversary date first occurring after the date
such notice is given. As an illustration of the foregoing, if such
notice were given by the Company to the Executive on a date in 2005 before the
first anniversary date of this Agreement, then the term of this Agreement would
end on the anniversary date of this Agreement in 2008. If notice were given by
the Company to the Executive on a date in 2005 after the first anniversary date
of this Agreement, then the term of this Agreement would end on the anniversary
date in 2009. After termination of the employment of the Executive for any
reason whatsoever, the Executive shall continue to be subject to the provisions
of Sections 10 through 17, inclusive, of this Agreement; provided, however,
that the Executive shall not be subject to the provisions of Sections 12 or 13
where the employment of the Executive is terminated by the Executive for Good
Reason (as defined in Section 8) or pursuant to Sections 8(e) or 8(f), or where
the term of employment is not renewed pursuant to this Section 3.

     4. Compensation. During the term of this Agreement, the Bank shall pay or
provide to the Executive as compensation for the services of the Executive set
forth in Section 2 hereof:

          (a) A base annual salary of at least $250,000.00 until December 31, 2004,
payable in such periodic installments consistent with other employees of the
Bank (such base salary to be subject to increase by the Board in its
discretion); and

          (b) Such individual bonuses and other compensation to the Executive as may
be authorized by the Board from time to time.

     5. Benefits and Insurance. The Bank shall provide to the Executive such
medical, health, and life insurance as well as any other benefits as the Board
shall determine from time to time. At a minimum, the Executive shall be
entitled to (i) participate in all employee benefit plans offered to the Bank’s
employees generally, and (ii) life insurance coverage (payable to such
beneficiary as the Executive may designate from time to time). The Executive
also shall be entitled to participate in any group disability plan maintained
by the Bank, with the Bank paying to the Executive his base annual salary
during any waiting period imposed by such plan for the receipt of disability
benefits thereunder. All benefits referred to herein shall be provided at
reasonable levels and within reasonable time after the commencement of the
Executive’s employment pursuant to the terms of this Agreement.

     6. Vacation. The Executive may take up to four weeks of vacation time at
such periods during each year as the Board and the Executive shall determine
from time to time. The Executive shall be entitled to full compensation during
such vacation periods.

     7. Reimbursement of Expenses; Automobile Allowance. The Bank
shall reimburse the Executive for reasonable expenses incurred in
connection with his employment hereunder subject to guidelines
issued from time to time by the Board and upon submission of

 

 

documentation in conformity with applicable requirements of federal income tax
laws and regulations supporting reimbursement of such expenses. The Bank also
shall provide to the Executive an automobile allowance in an amount as shall be
mutually agreed upon by the Executive and the Bank.

     8. Termination. The employment of the Executive may be terminated as
follows:

          (a) By the Bank, by action taken by its Board, at any time and immediately
upon written notice to the Executive if said discharge is for cause. In the
notice of termination furnished to the Executive under this Section 8(a), the
reason or reasons for said termination shall be given and, if no reason or
reasons are given for said termination, said termination shall be deemed to be
without cause and therefore termination pursuant to Section 8(f). Any one or
more of the following conditions shall be deemed to be grounds for termination
of the employment of the Executive for cause under this Section 8(a):

               (i) If the Executive shall fail or refuse to comply with the obligations
required of him as set forth in this Agreement or comply with the policies of
the Bank established by the Board from time to time, including but not limited
to, policies creating or establishing performance standards related to
acceptable profitability levels. Said performance standards shall be
reasonable in nature and reflect customary business practices and profit
expectations within the banking industry for like banking institutions similar
in size and market; provided, however, that for the first two such failures or
refusals, the Executive shall be given written warnings (each providing at
least a 10 day period for an opportunity to cure), and the third failure or
refusal shall be grounds for termination for cause;

               (ii) If the Executive shall have engaged in conduct involving fraud,
deceit, personal dishonesty, or breach of fiduciary duty, which in any such
case has adversely affected, or may adversely affect, the business or
reputation of the Bank;

               (iii) If the Executive shall have willfully violated any banking law or
regulation, memorandum of understanding, cease and desist order, or other
agreement with any banking agency having jurisdiction over the Bank;

               (iv) If the Executive shall have become subject to continuing intemperance
in the use of alcohol or drugs which has adversely affected, or may adversely
affect, the business or reputation of the Bank; or

               (v) If the Executive shall have filed, or had filed against him, any
petition under the federal bankruptcy laws or any state insolvency laws.

               In the event of termination for cause, the Bank shall pay the Executive
only salary, vacation, and bonus amounts accrued and unpaid as of the effective
date of termination.

 

 

          (b) By the Executive upon the lapse of 10 days following written notice by
the Executive to the Bank of termination of his employment hereunder for Good
Reason (as defined below), which notice shall reasonably describe the Good
Reason for which the Executive’s employment is being terminated; provided,
however, that if the Good Reason specified in such notice is such that there is
a reasonable prospect that it can be cured with diligent effort within 10 days,
the Bank shall have a reasonable time (having regard for the nature of the Good
Reason) to cure such Good Reason, which time shall not in any event exceed 10
days from the date of such notice, and the Executive’s employment shall
continue in effect during such reasonable time so long as the Bank makes
diligent efforts during such time to cure such Good Reason. If such Good
Reason shall be cured by the Bank during such reasonable time, the Executive’s
employment and the obligations of the Bank hereunder shall not terminate as a
result of the notice which has been given with respect to such Good Reason.
Cure of any Good Reason with or without notice from the Executive shall not
relieve the Bank from any obligations to the Executive under this Agreement or
otherwise and shall not affect the Executive’s rights upon the reoccurrence of
the same, or the occurrence of any other, Good Reason. For purposes of this
Agreement, the term “Good Reason” shall mean any material breach by the Bank of
any provision of this Agreement, any significant reduction, without the
Executive’s prior written consent, in the duties, responsibilities, authority
or title of the Executive as an officer of the Bank, or if the Executive’s
employment is terminated by the Bank for any reason other than cause.

          If the Executive’s employment is terminated by the Executive for Good
Reason, the Bank shall, for a period of 18 months after said termination;

               (i) continue to pay to the Executive the base annual salary in effect
under Section 4(a) on the date of said termination (or, if greater, the highest
annual salary in effect for the Executive within the 36 month period prior to
said termination) plus an annual amount equal to any bonus paid by the Bank to
the Executive during the 12 month period prior to said termination; and

               (ii) reimburse the Executive for continued coverage in accordance with the
Consolidated Omnibus Budget Reconciliation Act under the Bank’s medical
insurance plan.

          (c) By the Executive upon the lapse of 30 days following written notice by
the Executive to the Bank of his resignation from the Bank for other than Good
Reason; provided, however, that the Bank, in its discretion, may cause such
termination to be effective at any time during such 30-day period. If the
Executive’s employment is terminated because of the Executive’s resignation,
the Bank shall be obligated to pay to the Executive any salary, vacation, and
bonus amounts accrued and unpaid as of the effective date of such resignation.

          (d) If the Executive’s employment is terminated by the death or disability
(as defined in the disability plan maintained by the Bank) of the Executive,
this Agreement shall automatically terminate, and the Bank shall be obligated
to pay to the Executive or the Executive’s estate (i) any salary, vacation, and
bonus amounts accrued and unpaid at the date of termination of employment and
(ii) in the case of disability, the Bank shall continue to pay to the

 

 

Executive the Executive’s salary for a period until the earlier of 18 months
following the termination of the Executive’s employment as a result of
disability or the end of any waiting period of disability insurance maintained
by the Bank on the Executive.

          (e) Upon a Change of Control, in which event the Executive shall be
entitled to receive at the closing of such Change of Control an amount equal to
three times the sum of (i) the base annual salary in effect under Section 4(a)
on the date of such termination (or, if greater, the highest annual salary in
effect for the Executive within the 36-month period prior to said termination)
plus (ii) the average annual bonus received by the Executive during the three
year period prior to such termination. For purposes of this Agreement, a
Change of Control shall mean a merger or acquisition in which the Company or
the Bank is not the surviving entity, or the acquisition by any individual or
group of beneficial ownership of more than 50% of the outstanding shares of the
Company common stock. The term “group” and the concept of beneficial ownership
shall have such meanings ascribed thereto as set forth in the Securities
Exchange Act of 1934, as amended (the “1934 Act”), and the regulations and
rules thereunder.

          (f) By the Bank, by action taken by its Board, at any time if said
discharge is without cause. If the Executive’s employment is terminated by the
Bank without cause, the Bank shall, for a period of 18 months after said
termination;

               (i) continue to pay to the Executive the base annual salary in effect
under Section 4(a) on the date of said termination (or, if greater, the highest
annual salary in effect for the Executive within the 36 month period prior to
said termination) plus an annual amount equal to any bonus paid by the Bank to
the Executive during the 12 month period prior to said termination; and

               (ii) reimburse the Executive for continued coverage in accordance with the
Consolidated Omnibus Budget Reconciliation Act under the Bank’s medical
insurance plan.

     9. Notice. All notices permitted or required to be given to either party
under this Agreement shall be in writing and shall be deemed to have been given
(a) in the case of delivery, when addressed to the other party as set forth at
the end of this Agreement and delivered to said address, (b) in the case of
mailing, three days after the same has been mailed by certified mail, return
receipt requested, and deposited postage prepaid in the U.S. Mails, addressed
to the other party at the address as set forth at the end of this Agreement,
and (c) in any other case, when actually received by the other party. Either
party may change the address at which said notice is to be given by delivering
notice of such to the other party to this Agreement in the manner set forth
herein.

     10. Confidential Matters. The Executive is aware and acknowledges that
the Executive shall have access to confidential information by virtue of his
employment. The Executive agrees that, during the period of time the Executive
is retained to provide services to the Bank, and thereafter subsequent to the
termination of Executive’s services to the Bank for any reason whatsoever, the
Executive will not release or divulge any confidential information whatsoever
relating to the Bank or its business, to any other person or entity without the
prior

 

 

written consent of the Bank. Confidential information does not include
information that is available to the public or which becomes available to the
public other than through a breach of this Agreement on the part of the
Executive. Also, the Executive shall not be precluded from disclosing
confidential information in furtherance of the performance of his services to
the Bank or to the extent required by any legal proceeding.

     11. Injunction Without Bond. In the event there is a breach or threatened
breach by the Executive of the provisions of Sections 10, 12, or 13, the Bank
shall be entitled to an injunction without bond to restrain such breach or
threatened breach, and the prevailing party in any such proceeding will be
entitled to reimbursement for all costs and expenses, including reasonable
attorneys’ fees in connection therewith. Nothing herein shall be construed as
prohibiting the Bank from pursuing such other remedies available to it for any
such breach or threatened breach including recovery of damages from the
Executive.

     12. Noncompetition. The Executive agrees that during the period of time
the Executive is retained to provide services to the Bank, and thereafter for a
period of one year subsequent to the termination of Executive’s services to the
Bank for any reason whatsoever (except where the employment of the Executive is
terminated by the Executive for Good Reason or pursuant to Sections 8(e) or
8(f), or where the term of employment is not renewed pursuant to Section 3),
Executive will not enter the employ of, or have any interest in, directly or
indirectly (either as executive, partner, director, officer, consultant,
principal, agent or employee), any other bank or financial institution or any
entity which either accepts deposits or makes loans (whether presently existing
or subsequently established) and which has an office located within a radius of
50 miles of any office of the Bank; provided, however, that the foregoing shall
not preclude any ownership by the Executive of an amount not to exceed 5% of
the equity securities of any entity which is subject to the periodic reporting
requirements of the 1934 Act and the shares of Bank common stock owned by the
Executive at the time of termination of employment.

     13. Nonsolicitation; Noninterference. The Executive agrees that during
the period of time the Executive is retained to provide services to the Bank,
and thereafter for a period of one year subsequent to the termination of
Executive’s services to the Bank for any reason whatsoever (except where such
termination is by the Executive for Good Reason or pursuant to Sections 8(e) or
8(f), or where the term of employment is not renewed pursuant to Section 3),
the Executive will not (a) solicit for employment by Executive, or anyone else,
or employ any employee of the Bank or any person who was an employee of the
Bank within 12 months prior to such solicitation of employment; (b) induce, or
attempt to induce, any employee of the Bank to terminate such employee’s
employment; (c) induce, or attempt to induce, anyone having a business
relationship with the Bank to terminate or curtail such relationship or, on
behalf of himself or anyone else, compete with the Bank; (d) knowingly make any
untrue statement concerning the Bank or its directors or officers to anyone; or
(e) permit anyone controlled by the Executive, or any person acting on behalf
of the Executive or anyone controlled by an employee of the Executive to do any
of the foregoing.

     14. Remedies. The Executive agrees that the restrictions set forth in
this Agreement are fair and reasonable. The covenants set forth in this
Agreement are not dependent covenants

 

 

and any claim against the Bank, whether arising out of this Agreement or any
other agreement or contract between the Bank and Executive, shall not be a
defense to a claim against Executive for a breach or alleged breach of any of
the covenants of Executive contained in this Agreement. It is expressly
understood by and between the parties hereto that the covenants contained in
this Agreement shall be deemed to be a series of separate covenants. The
Executive understands and agrees that if any of the separate covenants are
judicially held invalid or unenforceable, such holding shall not release him
from his obligations under the remaining covenants of this Agreement. If in
any judicial proceedings, a court shall refuse to enforce any or all of the
separate covenants because taken together they are more extensive (whether as
to geographic area, duration, scope of business or otherwise) than necessary to
protect the business and goodwill of the Bank, it is expressly understood and
agreed between the parties hereto that those separate covenants which, if
eliminated or restricted, would permit the remaining separate covenants or the
restricted separate covenant to be enforced in such proceeding shall, for the
purposes of such proceeding, be eliminated from the provisions of this
Agreement or restriction, as the case may be.

     15. Invalid Provision. In the event any provision should be or become
invalid or unenforceable, such facts shall not affect the validity and
enforceability of any other provision of this Agreement. Similarly, if the
scope of any restriction or covenant contained herein should be or become too
broad or extensive to permit enforcement thereof to its full extent, then any
such restriction or covenant shall be enforced to the maximum extent permitted
by law, and Executive hereby consents and agrees that the scope of any such
restriction or covenant may be modified accordingly in any judicial proceeding
brought to enforce such restriction or covenant.

     16. Governing Law; Venue. This Agreement shall be construed in accordance
with and shall be governed by the laws of the State of Florida. The sole and
exclusive venue for any action arising out of this Agreement shall be a federal
or state court situated in Orange County, Florida, and the parties to this
Agreement agree to be subject to the personal jurisdiction of such Court and
that service on each party shall be valid if served by certified mail, return
receipt requested or hand delivery.

     17. Attorneys’ Fees and Costs. In the event a dispute arises between the
parties under this Agreement and suit is instituted, the prevailing party shall
be entitled to recover his or its costs and attorneys’ fees from the
nonprevailing party. As used herein, costs and attorneys’ fees include any
costs and attorneys’ fees in any appellate proceeding.

     18. No Third Party Beneficiary. This Agreement is solely between the
parties hereto, and no person not a party to this Agreement shall have any
rights hereunder, either as a third party beneficiary or otherwise. The rights
and obligations of the parties under this Agreement shall inure to the benefit
of and shall be binding upon their respective successors and legal
representatives.

     19. Effect on Other Agreements. This Agreement and the termination
thereof shall not affect any other agreement between the Executive and the
Bank, and the receipt by the Executive of benefits thereunder.

 

 

     20. Miscellaneous. The rights and duties of the parties hereunder are
personal and may not be assigned or delegated without the prior written consent
of the other party to this Agreement. The captions used herein are solely for
the convenience of the parties and are not used in construing this Agreement.
Time is of the essence of this Agreement and the performance by each party of
its or his duties and obligations hereunder.

     21. Complete Agreement. This Agreement constitutes the complete agreement
between the parties hereto and incorporates all prior discussions, agreements
and representations made in regard to the matters set forth herein. This
Agreement may not be amended, modified or changed except by a writing signed by
the party to be charged by said amendment, change or modification.

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

	 	 	 
	

	 	UNITED HERITAGE BANK
	 
	 	 
	

	 	By:     /s/ James L. Hewitt                                                         
	

	 	           James L. Hewitt, Chairman of the Board
	 
	 	 
	

	 	“EXECUTIVE”
	 
	 	 
	

	 	          /s/ David G.Powers                                                          
	

	 	David G. Powers, individually
	

	 	Address:

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