Document:

exhibit101amendagmtmaddy.htm

    Exhibit
10.1

    
      	 
      

    

    

     

    

     

    FIRST
AMENDMENT TO

    AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

     

     

     

    THIS  FIRST
AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”),
entered into as of the 4th day February , 2009, by and between SUMMIT FINANCIAL
GROUP, INC., a West Virginia corporation and bank holding company (“Summit”) and
H. CHARLES MADDY, III, (“Maddy”).

     

    W I T N E
S S E T H:

     

    WHEREAS,
on March 4, 2005, Summit and Maddy entered into that certain Employment
Agreement whereby Summit agreed to employ Maddy and Maddy accepted employment as
the Chief Executive Officer of Summit (the “Employment Agreement”);
and

     

    WHEREAS,
the original term of the Employment Agreement commenced on March 4, 2005, and
extends until March 4, 2008; and

     

    WHEREAS,
the Board of Directors of Summit or a committee designated by the Board of
Directors of Summit is required by the terms of the Employment Agreement to
review the Employment Agreement at least annually, and the Board of Directors of
Summit may, with the approval of Maddy, extend the term of the Employment
Agreement annually for one (1) year periods (so that the actual term of the
Employment Agreement will always be between two and three years);
and

     

    WHEREAS,
on December 6, 2005, December 12, 2006, and December 14, 2007, the Compensation
and Nominating Committee of the Board of Directors of Summit met to review the
Employment Agreement and extended the term of the Employment Agreement for an
additional one (1) year terms and

     

    WHEREAS,
the Employment Agreement was amended and restated on December 9, 2008 (the
“Amended and Restated Employment Agreement”) and the term of the Employment
Agreement was thereby extended for an additional one (1) year until March 4,
2012.

     

    WHEREAS,
on February 4, 2010 , the Compensation and Nominating Committee of the Board of
Directors of Summit met to review the Amended and Restated Employment Agreement
and extended the term of the Employment Agreement for an additional one (1) year
until March 4, 2013; and

     

    WHEREAS,
Maddy and Summit desire to enter into this Agreement to evidence the extension
of the Employment Agreement for an additional one (1) year until March 4,
2013.

     

    NOW
THEREFORE, for and in consideration of the premises and mutual covenants,
agreements and undertakings, and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties covenant
and agree as follows:

     

    1.           Amendment to Employment
Agreement.  Effective as of the date of this Agreement, the
term of the Employment Agreement shall be until March 4, 2013.

     

    2.           Enforceable
Documents.  Except as modified herein, all terms and conditions
of the Employment Agreement, as the same may be supplemented, modified, amended
or extended from time to time, are and shall remain in full force and
effect.

     

    3.           Authority.  The
undersigned are duly authorized by all required action or agreement to enter
into this Agreement.

     

    4.           Modifications to
Agreement.  This Agreement may be amended or modified only by
an instrument or document in writing signed by the person or entity against whom
enforcement is sought.

     

    5.           Governing
Law.  This Agreement, and any documents executed in connection
herewith or as required hereunder, and the rights and obligations of the
undersigned hereto and thereto, shall be governed by, construed and enforced in
accordance with the laws of the State of West Virginia.

     

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

     

    SUMMIT
FINANCIAL GROUP, INC.

    

    

    By:           __/s/ Oscar M.
Bean__________________

     

    Its:            _Chairman_________________________

     

    

     

    _/s/ H. Charles Maddy,
III                 ___________

    H. Charles Maddy,
IIIUnassociated Document

EXHIBIT 10.1

    RESOLUTIONS
ADOPTED BY THE

     

    HUMAN
RESOURCES AND COMPENSATION COMMITTEE OF THE

     

    BOARD
OF DIRECTORS OF ESCO TECHNOLOGIES INC.

     

    

     

    The
following Resolutions were adopted by the Human Resources and Compensation
Committee of the Board of Directors of ESCO Technologies Inc.:

     

    WHEREAS, ESCO Technologies
Inc. (the “Company”) adopted the ESCO Technologies Inc. 2004 Incentive
Compensation Plan (the “2004 Plan”), the ESCO Technologies Inc. 2001 Stock
Incentive Plan (the “2001 Plan”) and the ESCO Technologies Inc. 1999 Stock
Option Plan (the “1999 Plan”) (each. a “Plan” and collectively the “Plans”);
and

     

    WHEREAS, the Human Resources
and Compensation Committee of the Board of Directors of the Company (the
“Committee”) has been appointed to administer the
Plans;  and

     

    WHEREAS, Section 7(j) of the
2004 Plan and the 2001 Plan and Section 13 of the 1999 Plan  contain a
provision that options will be granted only on the condition that all purchases
of stock thereunder shall be for investment purposes and not with a view to
resale or distribution (the “Investment Purpose Restriction”), except that the
Committee may make such provision for the release of the Investment Purpose
Restriction upon registration with the Securities and Exchange Commission (the
“SEC”) of the stock subject to the options; and

     

    WHEREAS, there are currently
effective registration statements on file with the SEC covering the stock
subject to options granted under each of the Plans:

     

    NOW,
THEREFORE, BE IT

     

    RESOLVED, that as long as
there is an effective registration statement on file with the SEC covering the
stock subject to an option granted under a Plan, the Investment Purpose
Restriction shall not apply to such option; and BE IT FURTHER

     

    RESOLVED, that the proper
officers of the Company be, and they hereby are, authorized and directed to take
such further action as may be necessary of desirable to carry out the intent of
the foregoing.

     

    IN WITNESS WHEREOF, the
foregoing Resolutions were adopted by the Committee on the 4th day
of February, 2010.Unassociated Document

EXHIBIT 10.2

    FIFTH
AMENDMENT TO THE

    ESCO TECHNOLOGIES
INC. 1999 STOCK
OPTION PLAN

     

    

     

    WHEREAS,
ESCO Technologies Inc. (“ESCO”) previously adopted the ESCO Technologies Inc.
1999 Stock Option Plan (“Plan”); and

     

    WHEREAS,
ESCO reserved the right to amend the Plan pursuant to Section 16 thereof;
and

     

    WHEREAS,
effective February 4, 2010, ESCO desires to amend the Plan to remove the
restriction that stock issued pursuant to an option granted thereunder must be
held for investment purposes only;

     

    NOW,
THEREFORE, effective February 4, 2010, Section 13 of the Plan is deleted in its
entirety.

     

    IN
WITNESS WHEREOF, the foregoing Amendment was adopted on the 4th day of February,
2010.Unassociated Document

    
 

    EXHIBIT 10.3

    
 

    FIFTH
AMENDMENT TO THE

    ESCO TECHNOLOGIES
INC. 2001 STOCK
INCENTIVE PLAN

     

    

     

    WHEREAS,
ESCO Technologies Inc. (“ESCO”) previously adopted the ESCO Technologies Inc.
2001 Stock Incentive Plan (“Plan”); and

     

    WHEREAS,
ESCO reserved the right to amend the Plan pursuant to Section 13 thereof;
and

     

    WHEREAS,
effective February 4, 2010, ESCO desires to amend the Plan to remove the
restriction that stock issued pursuant to an option granted thereunder must be
held for investment purposes only;

     

    NOW,
THEREFORE, effective February 4, 2010, Section 7(j) of the Plan is deleted in
its entirety.

     

    IN
WITNESS WHEREOF, the foregoing Amendment was adopted on the 4th day of February,
2010.Unassociated Document

     

    EXHIBIT 10.4

     

    

 

    FOURTH
AMENDMENT TO THE

    ESCO TECHNOLOGIES
INC. 2004
INCENTIVE COMPENSATION PLAN

     

    

     

    WHEREAS,
ESCO Technologies Inc. (“ESCO”) previously adopted the ESCO Technologies Inc.
2004 Incentive Compensation Plan (“Plan”); and

     

    WHEREAS,
ESCO reserved the right to amend the Plan pursuant to Section 15 thereof;
and

     

    WHEREAS,
effective February 4, 2010, ESCO desires to amend the Plan to remove the
restriction that stock issued pursuant to an option granted thereunder must be
held for investment purposes only;

     

    NOW,
THEREFORE, effective February 4, 2010, Section 7(j) of the Plan is deleted in
its entirety and Sections 7(k) and 7(l) are renumbered accordingly.

     

    IN
WITNESS WHEREOF, the foregoing Amendment was adopted on the 4th day of February,
2010.Unassociated Document

    
      EXHIBIT
10.5

       

       

    

    SIXTH
AMENDMENT TO THE ESCO TECHNOLOGIES INC.

    2001
STOCK INCENTIVE PLAN

    

    WHEREAS, ESCO Technologies Inc.
(“Company”) previously adopted the ESCO Technologies Inc. 2001 Stock Incentive
Plan (“Plan”) for the benefit of eligible employees; and

    

    WHEREAS, the Company retained the right
to amend the Plan pursuant to Section 13 thereof; and

    

    WHEREAS, effective February 4, 2010,
the Company desires to amend the Plan;

    

    NOW THEREFORE, effective February 4,
2010, Section 7(f) of the Plan is deleted in its entirety and replaced with the
following:

    

    (f)           Termination of
Employment. The holder of any Stock Option issued hereunder must exercise
the Stock Option prior to his termination of employment, except that if the
employment of an optionee terminates with the consent and approval of his
employer, the Committee or its designee may, in its absolute discretion, permit
the optionee to exercise his Stock Option, to the extent that he was entitled to
exercise it at the date of such termination of employment, at any time within
three (3) months after such termination (one (1) year in the case of termination
of employment on account of retirement on or after age 60 (“Retirement”)), but
not after ten (10) years, or such shorter option term as specified by the award
notice, from the date of the granting thereof.  The Committee may
delegate its authority to extend a Stock Option beyond termination of employment
hereunder to such employee or employees as it deems appropriate, so long as the
optionees whose options have been extended by such employee or employees are not
reporting persons under Section 16 of the Securities Exchange Act of 1934 or
covered employees (as defined in section 162(m) of the Internal Revenue
Code).  If the
optionee terminates employment on account of disability he may exercise such
Stock Option to the extent he was entitled to exercise it at the date of such
termination at any time within one (1) year of the termination of his employment
but not after ten (10) years or such shorter period as specified by the Stock
Option agreement, from the date of the granting thereof. For this purpose a
person shall be deemed to be disabled if he is permanently and totally disabled
within the meaning of Section 422(c)(6) of the Code, which, as of the date
hereof, shall mean that he is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or which has lasted or can be expected
to last for a continuous period of not less than 12 months. A person shall be
considered disabled only if he furnishes such proof of disability as the
Committee may require. Stock Options granted under the Plan shall not be
affected by any change of employment so long as the holder continues to be an
employee of the Company or a subsidiary thereof. The Stock Option agreements may
contain such provisions as the Committee shall approve with reference to the
effect of approved leaves of absence. Nothing in the Plan or in any Stock Option
granted pursuant to the Plan shall confer on any individual any right to
continue in the employ of the Company or any subsidiary or interfere in any way
with the right of the Company or any subsidiary thereof to terminate his
employment at any time.

    

    IN WITNESS WHEREOF, the foregoing
Amendment was adopted on the 4th day of February, 2010 by the Human Resources
and Ethics Committee of the Board of Directors of ESCO Technologies
Inc.

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