Document:

Exhibit 10.3

 

 

  

Second Amendment To Amended and Restated

 Employment Agreement

This Second Amendment to Amended and Restated Employment Agreement is by and among River Valley Financial Bank, an Indiana commercial bank (the “Bank”), John Muessel (“Employee”), and River Valley Bancorp, an Indiana corporation (the “Holding Company”).

W i t n e s s e t h:

Whereas, Bank and Employee entered into an Amended and Restated Employment Agreement dated as of November 20, 2007 and amended that agreement as of September 17, 2009 (such Employment Agreement, as so amended, shall be referred to as Employment Agreement);

Whereas, the parties desire to make an additional change to the Employment Agreement;

Now, Therefore, in consideration of the premises and the mutual promises herein contained, the parties agree that the Employment Agreement shall be, and it hereby is, amended as follows:

1.            Section 6(c) of the Employment Agreement shall be amended to read in its entirety as follows and new Sections 6(d) and 6(e) shall be added to the Employment Agreement to read as provided below:

“(c)            While Employee is employed by the Bank and for a period of three years after termination of Employee’s employment by the Bank or by the Employee (other than on or after a Change in Control) for reasons other than those set forth in Section 9 (d) hereof, the Employee shall not directly or indirectly, engage in any bank or bank-related business which competes with the business of the Bank as conducted during Employee’s employment by the Bank for any financial institution, including but not limited to banks, savings and loan associations, and credit unions within a forty mile radius of Madison, Indiana.

(d)            If this Agreement expires under Section 11(a)(1) hereof, as a result of a Change in Control, the Employee shall not, directly or indirectly, for Employee or on behalf of any Competitor:

(i)            During the Restricted Non-Solicitation Period, employ, solicit, contact, or communicate with, for the purpose of hiring, employing or engaging, any individual who is an employee, agent, or independent contractor of the Bank, or who has been, within the

twelve (12) month period immediately preceding the termination of Employee’s employment with the Bank.

(ii)            During the Restricted Non-Competition Period, compete with the Bank by engaging in any bank or bank-related business which competes with the Business of the Bank as conducted during Employee’s employment with the Bank for any financial institution, including, but not limited to, banks, savings and loan associations, and credit unions, within the Restricted Area.

(iii)            During the Restricted Non-Solicitation Period, canvas, solicit, or accept any Business from any Client or Potential Client of the Bank.

(iv)            During the Restricted Non-Solicitation Period, induce, cause, advise, or otherwise influence any vendors, referral sources, consultants, Clients, or Potential Clients of the Bank to cease doing Business with the Bank.

(v)            During Employee’s employment with the Bank, and during the Restricted Non-Solicitation Period, make any negative or disparaging remarks about the Bank, to any Competitor, Client, Prospective Client, employee, independent contractor, vendor, referral source, and/or consultant of the Bank, or to any other individual or entity.

Subject to the provisions below, the term “Restricted Non-Competition Period” and “Restricted Non-Solicitation Period” as used herein shall refer to a period of thirty-six (36) months from the termination of Employee’s employment with the Bank in connection with a Change of Control.

Subject to the provisions below, the term “Restricted Area” as used herein shall refer to a forty mile radius of Madison, Indiana.

The term “Business” as used herein shall refer to the Bank’s financial services and/or products (including personal banking, business banking, commercial lending, personal lending, mortgage loan origination, financial advising, investment and/or insurance services and/or products) which are the same or substantially similar to, or the functional equivalent or alternative for, those financial services Employee performed and/or those financial products marketed and/or offered by Employee for or on behalf of the Bank at any time during the twelve (12) month period immediately preceding the termination of Employee’s employment with the Bank.

2

The term “Competitor” as used herein shall refer to any individual or entity that engages in the business of providing financial services and/or products, including personal and business banking, commercial and personal lending, mortgage loan origination, financial advising, investment and/or insurance services and/or products.

The term “Client” as used herein shall refer to any individual or entity: (i) who the Bank does Business with at the time of Employee’s termination of employment or at any time during the twelve (12) month period immediately preceding Employee’s termination of employment; and (ii) which Employee did Business with on behalf of the Bank at the time of Employee’s termination of employment or at any time during the twelve (12) month period immediately preceding Employee’s termination of employment, or which Employee had access to any Confidential Information regarding.

The term “Potential Client” as used herein shall refer to any individual or entity: (i) who the Bank has solicited, approached, or contracted concerning the possibility of doing Business with at the time of Employee’s termination of employment or at any time during the twelve (12) month period immediately preceding Employee’s termination of employment; and (ii) which Employee was involved in any such solicitation, approach or contact, or which Employee had access to any Confidential Information regarding.”

(e)            The restrictions in Section 6(d) shall expire if Employee (1) is employed by an acquiror of the Bank in connection with a Change in Control (or any of its affiliates) pursuant to an employment agreement signed and delivered by the Employee that contains non-compete and non-solicitation provisions acceptable to such acquiror, as evidenced by the acquiror’s (or any of its affiliate’s) signature on such employment agreement, and (2) reports to work following the effective date of the Change in Control.

2.            All other terms and provisions of the Employment Agreement shall remain in full force and effect.

3

In Witness Whereof, the parties have caused this Second Amendment to be executed, delivered and effective as of the 26th day of October, 2015.

	 	
River Valley Financial Bank

	 	 	 
	 	 	 
	 	
By:

	
/s/ Matthew P. Forrester

	 	 	
Matthew P. Forrester, President and Chief Executive Officer

	 	 	 
	 	 	 
	 	
“BANK”

	 	 	 
	 	 	 
	 	
River Valley Bancorp

	 	 	 
	 	 	 
	 	
By:

	
/s/ Matthew P. Forrester

	 	 	
Matthew P. Forrester, President and Chief Executive Officer

	 	 	 
	 	
“HOLDING COMPANY”

	 	 	 
	 	 	 
	 	 	 
	 	
/s/ John Muessel

	 	
John Muessel

	 	 	 
	 	
“EMPLOYEE”

 

 

4Exhibit 10.4

 

 

 

FIRST AMENDMENT TO THE

RIVER VALLEY FINANCIAL BANK

 SALARY CONTINUATION AGREEMENT

Pursuant to rights reserved under Section 8.1 of the River Valley Financial Bank Salary Continuation Agreement (the “Agreement”), River Valley Financial Bank (the “Bank”) and Matthew P. Forrester (“Forrester”) hereby amend Section 2.5 of the Agreement by adding to the end thereof the following:

“Notwithstanding anything to the contrary in the foregoing, this Section 2.5 shall not apply to any Separation from Service that occurs after October 27, 2016.  Any benefit payable with respect to a Separation from Service that occurs on or after October 27, 2016, shall be paid without regard to this Section 2.5 and at such time and in such manner as otherwise provided in Section 2.1, Section 2.2, or Section 2.3, subject to the delayed commencement of payment required by Section 2.8(b).  For purposes of clarification, the delay in the commencement of payment under Section 2.8(b) shall be applied with respect to any installment form of payment by delaying payment of all installment payments otherwise due during the five year period beginning on the date the first installment payment is otherwise scheduled to be made and making those delayed installment payments in a single lump sum on the day that is five years and one day after the date the first installment payment was otherwise scheduled to have been made.  Any remaining installments shall be payable as otherwise scheduled.”

In addition, the Bank and Forrester hereby amend Section 1.11 of the Agreement by adding to the end thereof the following:

“Notwithstanding anything to the contrary in the foregoing, for any Separation of Service that occurs after October 27, 2016, “Early Termination” means Separation from Service before Early Retirement Age except when such Separation from Service occurs due to death, Termination for Cause or Disability.”

This Amendment has been executed and is effective this 27th day of October, 2015.

 

	 	
RIVER VALLEY FINANCIAL BANK

	 	 	 
	 	
Signature

	
/s/ Fred W. Koehler

 

	 	
Printed Name:

	
Fred W. Koehler

 

	 	
Title:

	
Chairman

	 	 	 
	 	 	 
	 	
EXECUTIVE

	 	 	 
	 	
/s/ Matthew P. Forrester

	 	
Matthew P. ForresterExhibit 4.1

 EXHIBIT 4.1 
  

 
 NUMBER CERT. ******* China Customer Relations Centers, Inc. INCORPORATED UNDER THE LAWS OF THE BRITISH VIRGIN ISLANDS $0,001 PAR VALUE
COMMON SHARES SHARES ******* CUSIP G2118P102 COMMON SHARES THIS CERTIFIES THAT ******* Is The Owner of ******* FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON SHARES OF China Customer Relations Centers, Inc. Transferable on the books of the
Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Articles and
Memorandum of Association of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid until countersigned by the Transfer Agent
and registered by the Registrar. Dated: ******* COUNTERSIGNED AND REGISTERED: VSTOCK TRANSFER, LLC Transfer Agent and Registrar By: AUTHORIZED SIGNATURE President 

 The following abbreviations, when used in the inscription on the face of this certificate, shall
be construed as though they were written out in full according to applicable laws or regulations. 
  

					
	 TEN COM
	 	 -   as tenants in common
	  	UNIF GIFT MIN ACT..................... Custodian.......................
	 TEN ENT
	 	 -   as tenants by the entireties
	  	(Cust)
                        (Minor)                

	 JT TEN
	 	 -   as joint tenants with the right of survivorship and not as tenants in common
	  	 Act. ..........................................

(State)

 Additional abbreviations may also be used though not in the above list. 

For value received,                    
                                         
                                         
                    hereby sell, assign and transfer unto 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE: 
  

 
 (PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 
  
  

 
  
  

 

			
	  
	 	 shares

 of the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint 

			
	                                   
                                         
                                         
                                         
                                      ,
Attorney

 to transfer the said stock on the books of the within named Corporation with full power of substitution in the premises.

 Dated
                                         
                
  

			
	X	  	  

 THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THIS CERTIFICATE.
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions). 

SIGNATURE GUARANTEED: 
 TRANSFER FEE WILL
APPLY

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