Document:

Unassociated Document

    ASSET
      PURCHASE AGREEMENT

    

    THIS
      AGREEMENT dated
      the
14th
      day of February 2007.

    

    BETWEEN:

    

    COAL
      HARBOUR CONSULTING INC.

    

    (the
      “Vendor”)

    

    OF
      THE FIRST PART

    

    AND:

    

    AVRO
      ENERGY INC

    

    (the
      “Purchaser”)

    

    OF
      THE SECOND PART

    

    WHEREAS:

    

    A. The
      Vendor is the registered and beneficial owner of various mineral claims
      (hereinafter the “Claims”),
      collectively called Venus
      Molybdenum Property
      Claims
      of the Vendor are more particularly described in Schedule “A” attached hereto
      and forming part of this Agreement;

    

    B. The
      Vendor has agreed to sell and the Purchaser has agreed to purchase all of the
      Claims of the Vendor in accordance with the terms of this
      Agreement.

    

    NOW
      THEREFORE THIS AGREEMENT WITNESSES
      that in
      consideration of the terms and covenants herein and other good and valuable
      consideration, the receipt and sufficiency of which each party acknowledges,
      the
      parties hereto agree as follows:

    

    1. PURCHASE
      AND SALE OF ASSETS

    

    1.1 Sale
      of Assets.
      Subject
      to the terms and conditions of this Agreement, the Vendor hereby sells to the
      Purchaser, and the Purchaser hereby purchases the Vendor’s Claims.

    

    1.2  Purchase
      Price.
      The
      purchase price payable by the Purchaser to the Vendor for the Vendor’s Claims is
      USD $20,000 (the
      “Purchase
      Price”).
      If
      applicable, subject to a carried 3% Net Smelter Royalty as described in Schedule
      “A”.

    

    1.3  Payment
      of the Purchase Price.
      The
      Purchase Price will be paid immediately on delivery of property report, by
      check
      or wire order.

     

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
 

    2. COVENANTS
      OF THE PARTIES

    

    2.1 Covenants.
      The
      parties undertake to keep the information with respect to this Agreement, the
      terms herein, and any related, underlying or subsequent agreements (the
“Information”)
      confidential and not to directly or indirectly disclose the Information at
      any
      time to any person or persons or use the Information for any purpose
      whatsoever.

    

    

    3. REPRESENTATIONS
      OF THE VENDOR

    

    3.1 Representations.
      The
      Vendor represents and warrants to the Purchaser as follows, with the intent
      that
      the Purchaser will rely on the representations in entering into this Agreement,
      and in concluding the purchase and sale contemplated by this
      Agreement:

    

    
      	 	
              (a)

            	
              Capacity
                to Sell.
                The Vendor is Coal Harbour Consulting Inc., having the power and
                capacity
                to own and dispose of the Claims, and to enter into this Agreement
                and
                carry out its terms to the full
                extent;

            

    

    

    
      	 	
              (b)

            	
              Authority
                to Sell.
                The execution and delivery of this Agreement, and the completion
                of the
                transaction contemplated by this Agreement has been duly and validly
                authorized by all necessary corporate action on the part of the Vendor,
                and this Agreement constitutes a legal, valid and binding obligation
                of
                the Vendor enforceable against the Vendor in accordance with its
                terms
                except as may be limited by laws of general application affecting
                the
                rights of creditors;

            

    

    

    
      	 	
              (c)

            	
              Litigation.
                There is no litigation or administrative or governmental proceeding
                or
                inquiry pending or, to the knowledge of the Vendor, threatened against
                or
                relating to the Claims, nor does the Vendor know of or have reasonable
                grounds that there is any basis for any such action, proceeding or
                inquiry;

            

    

    

    
      	 	
              (d)

            	
              Good
                Standing.
                Prior to closing this Agreement, the Vendor has maintained, as required,
                the Claims in good standing.

            

    

    

    

    4. REPRESENTATIONS
      OF THE PURCHASER

    

    4.1 Representations.
      The
      Purchaser represents and warrants to the Vendor as follows, with the intent
      that
      the Vendor will rely on these representations and warranties in entering into
      this Agreement, and in concluding the purchase and sale contemplated by this
      Agreement:

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (a)
       Status
      of Purchaser.
      The
      Purchaser is a corporation duly incorporated, validly existing and in good
      standing and has the power and capacity to enter into this Agreement and carry
      out its terms; and

    

    	(b)  	
            Authority
              to Purchase.
              The execution and delivery of this Agreement and the completion of
              the
              transaction contemplated by this Agreement has been duly and validly
              authorized by all necessary corporate action on the part of the Purchaser,
              and this Agreement constitutes a legal, valid and binding obligation
              of
              the Purchaser enforceable against the Purchaser in accordance with
              its
              terms except as limited by laws of general application affecting the
              rights of creditors.

          

    

    5. 
       TRANSFER
      OF ASSETS

     

    5.1  Transfer
      of Property. 
      The Purchaser must provide written instructions to the Vendor if the Purchaser
      wishes to transfer the claims into the Purchaser’s name.  The instructions
      should include the claims, tenures, and property name, as well as the full
      name
      and mineral license of the Purchaser.

     

    5.2. Vendor’s
      Maintenance of Property. 
      The
      Purchaser may request the Vendor to maintain the claims on the Purchaser’s
      behalf, or if the Purchaser does not provide written instruction to transfer
      the
      claims, then the Vendor will maintain the claims for the Purchaser.  The
      Vendor will charge a maintenance fee to maintain the claims on the Purchaser’s
      behalf.  If the Purchaser does not pay the maintenance fee the Vendor
      reserves the right to let the claims lapse or expire.  

     

    

    

    6. SURVIVAL
      OF REPRESENTATIONS AND COVENANTS

    

    6.1 Vendor's
      Representations and Covenants.
      All
      representations, covenants and agreements made by the Vendor in this Agreement
      or under this Agreement will, unless otherwise expressly stated, survive closing
      and any investigation at any time made by or on behalf of the Purchaser will
      continue in full force and effect for the benefit of the Purchaser.

    

    6.2 Purchaser’s
      Representations and Covenants.
      All
      representations, covenants and agreements made by the Purchaser in this
      Agreement or under this Agreement will, unless otherwise expressly stated,
      survive closing and any investigation at any time made by or on behalf of the
      Vendor and will continue in full force and effect for the benefit of the
      Vendor.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    7. GENERAL

    

    7.1 Governing
      Law.
      This
      Agreement and each of the documents contemplated by or delivered under or in
      connection with this Agreement are governed exclusively by, and are to be
      enforced, construed and interpreted exclusively in accordance with the laws
      of
      British Columbia which will be deemed to be the proper law of the
      Agreement.

    

    7.2 Professional
      Fees.
      Each of
      the parties will bear the fees and disbursements of their respective lawyers,
      advisers and consultants engaged by them respectively in connection with the
      transactions contemplated by this Agreement prior to the closing.

    

    7.3 Enurement.
      This
      Agreement enures to the benefit of and binds the parties and their respective
      successors and permitted assigns.

    

    7.4 Notice.
      All
      notices required or permitted to be given under this Agreement will be in
      writing and personally delivered to the address of the intended recipient set
      out on the first page of this Agreement or at such other address as may from
      time to time be notified by any of the parties in the manner provided in this
      Agreement.

    

    7.5
       Further
      Assurances.
      The
      parties will execute and deliver all further documents and take all further
      action reasonably necessary or appropriate to give effect to the provisions
      and
      intent of this Agreement and to complete the transactions contemplated by this
      Agreement.

    

    7.6 Remedies
      Cumulative.
      The
      rights and remedies under this Agreement are cumulative and are in addition
      to
      and not in substitution for any other rights and remedies available at law
      or in
      equity or otherwise. Any party to this Agreement may terminate this Agreement
      if
      any other party is in breach of or defaults under any material term or condition
      of this Agreement or has made a material misrepresentation in this Agreement.
      No
      single or partial exercise by a party of any right or remedy precludes or
      otherwise affects the exercise of any other right or remedy to which that party
      may be entitled.

    

    7.7 Entire
      Agreement.
      This
      Agreement constitutes the entire agreement between the parties and there are
      no
      representations, express or implied, statutory or otherwise and no collateral
      agreements other than as expressly set out or referred to in this
      Agreement.

    

    7.8 Headings.
      The
      division of this Agreement into sections and the insertion of headings are
      for
      convenience only and do not form part of this Agreement and will not be used
      to
      interpret, define or limit the scope, extent or intent of this
      Agreement.

    

    7.9 Severability.
      Each
      provision of this Agreement is severable. If any provision of this Agreement
      is
      or becomes illegal, invalid or unenforceable, the illegality, invalidity or
      unenforceability of that provision will not affect the legality, validity or
      enforceability of the remaining provisions of this Agreement.

    

    7.10 Schedules.
      The
      Schedules attached hereto form an integral part of this Agreement.

     

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
 

    
      
        7.11
          Time
          of the Essence.
          Time
          will be of the essence of this Agreement.

      

    

    

    7.12 Counterparts.
      This
      Agreement and all documents contemplated by or delivered in connection with
      this
      Agreement may be executed and delivered by facsimile or original and in any
      number of counterparts, and each executed counterpart will be considered to
      be
      an original. All executed counterparts taken together will constitute one
      agreement.

    

    IN
      WITNESS WHEREOF
      the
      parties have duly executed this Agreement by their duly authorized officers
      effective the day, month and year written above.

    

    

    VENDOR:
      COAL HARBOUR CONSULTING INC.

    

    /s/
      E.
      Briner

    

    PURCHASER:
      AVRO ENERGY INC.

    

    /s/
      Mike
      P.
      Kurtanjek

    

    

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    

    

    SCHEDULE
      “A”

    THIS
      IS SCHEDULE “A”
      to the
      Asset Purchase Agreement.

    

    

    ASSET
      DETAILS: 

    

    Mineral
      Claims:
      537073

    

    Claims
      collectively called:
      Venus
      Molybdenum Property

    

    Executive
      Summary: 

    

    

    
      	
              1.

            	
              The
                Venus Molybdenum Property is located approximately 35 kilometres
                north of
                Vancouver BC, and about 2 kilometres north of the community of Britannia
                Beach, BC. The property is crossed by Highway 99, “The Sea to Sky Highway”
                and the CN Railroad.

            

    

    

    
      	
              2.

            	
              The
                Venus Molybdenum Property comprises one mineral claim totaling 188.293
                hectares in area. The Venus molybdenum occurrence was discovered
                in the
                late 1960’s and developed by a company known as Squamish Silica and Stone
                Co. Ltd. The occurrence is located about 250 metres northwest of
                Highway
                99.

            

    

    

    
      	
              3.

            	
              Chalcopyrite
                and molybdenite are reported to occur as fracture fillings in quartz
                porphyry. In 1969, two pits were dug in overburden, and two trenches
                totaling about 10 metres in length were cut into bedrock. The location
                of
                these workings is presently unknown. Several recent traverses on
                the claim
                have located a pyritic and gossanous area crossing Highway 99, and
                confirmed the extensive nature of the quartz porphyry
                intrusive.

            

    

    

    
      	
              4.

            	
              A
                proposed work program includes prospecting, geological mapping and
                rock
                sampling of any mineralized surface showings, construction of a control
                grid, geochemical soil sampling, and geophysical surveys. Based on
                a
                compilation of these results, a diamond drill program would be designed
                to
                explore and define the potential resources. The anticipated costs
                of this
                development are presented in three results-contingent
                stages.

            

    

    

     

     

     

     

     

     

     

    
 

    

    

    6Employment Agreement - David Voigt

    
      

      

    

    Exhibit
      10.1

    
 

    EMPLOYMENT
      AGREEMENT

    

    This
      Employment Agreement (the “Agreement”) is made effective as of April 30, 2007,
      by and between TIB Financial Corp. (the “Holding Company”), The Bank of Venice
      (the “Bank”), and David F. Voigt (the “Executive”).

    

    WITNESSETH:

     

    WHEREAS,
      the Holding Company and the Bank (collectively the “Company”) desire to retain
      the services of and employ the Executive, and the Executive desires to provide
      services to the Company, 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 Company and the Executive covenant and agree as
      follows:

    

    1.  Employment.
      Pursuant to the terms and conditions of this Agreement, the Company agrees
      to
      employ the Executive and the Executive agrees to render services to the Company
      as set forth herein, all effective as of the date set forth above.
      Notwithstanding any other provision in this Agreement, the employment of the
      Executive in accordance with the terms of this Agreement shall be subject to
      the
      prior approval, as and to the extent required by law, of the applicable federal
      banking agencies having jurisdiction over the Holding Company and the Bank.
      This
      Agreement supercedes any prior employment and/or change in control agreements
      entered into between the Bank and the Executive, prior to the date hereof,
      and
      each such prior agreement is hereby terminated.

    

    2.  Position
      and Duties; Records.
      During
      the term of this Agreement, the Executive shall serve as Chief Executive Officer
      of the Bank, and shall undertake such duties, consistent with such titles,
      as
      may be assigned to him from time to time by the President and Chief Executive
      Officer and/or Boards of Directors of the Holding Company and the Bank
      (collectively referred to as the “Board”), including serving on Board committees
      as appointed from time to time by the Board, and assisting in keeping the
      Company 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 Company 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 Company. Upon
      termination of the Executive’s employment for any reason, he shall resign as a
      director of the Holding Company and the Bank (if he is then serving in such
      capacities). All files, records, documents, manuals, books, forms, reports,
      memoranda, studies, data, calculations, recordings or correspondence, in
      whatever form they may exist, and all copies, abstracts and summaries of the
      foregoing, and all physical items related to the business of the Company, its
      affiliates and their respective directors and officers, whether of a public
      nature or not, and whether prepared by Executive or not, are and shall remain
      the exclusive property of the Company, and shall not be removed from their
      premises, except as required in the course of providing the services pursuant
      to
      this Agreement, without the prior written consent of the Company. Such items
      shall be promptly returned by the Executive on the termination of this Agreement
      or at any earlier time upon the request of the Company.

    

    3.  Term.
      The
      term of employment pursuant to this Agreement shall be for a period of two
      years, commencing with the date set forth in Section 1 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 two years on each anniversary
      date of this Agreement, until 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, the term of this Agreement shall
      end
      on the anniversary of this Agreement occurring two 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 2008 before the first anniversary date of this Agreement, then term
      of
      this Agreement would end on the anniversary date of this Agreement in 2010.
      If
      notice were given by the Company to the Executive on a date in 2008 after the
      first anniversary date of this Agreement, then the term of this Agreement would
      end on the anniversary date in 2011. 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.
      

    

    4.  Compensation.
      During
      the term of this Agreement, the Company 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 $139,500 during the first year of this Agreement, such base
      annual salary to be subject to increase thereafter as the Board in its
      discretion shall determine. The foregoing base salary shall be payable in such
      periodic installments consistent with other employees of the Bank. 

    

    (b) An
      annual
      incentive bonus for each fiscal year (commencing with the 2007 fiscal year)
      as
      determined by the Board. The incentive bonus shall be prorated as determined
      by
      the Board for a partial year that occurs within the calendar year. 

    

    (c) Upon
      the
      closing of a Change of Control, a cash payment equal to one times the
      Executive’s base annual salary in effect under Section 4(a) on the date of such
      Change of Control. For purposes of this Agreement, a Change of Control shall
      mean a merger in which the Holding Company is not the surviving entity, the
      acquisition of the Bank by means of a merger, consolidation or purchase of
      80%
      or more of its outstanding shares, or the acquisition by any individual or
      group
      of beneficial ownership of more than 50% of the outstanding shares of Holding
      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.

    

    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. 

    

    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.
      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. 

     

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

    

    (a) By
      the
      Company, by action taken by its Board or its President and Chief Executive
      Officer, at any time and immediately upon written notice to the Executive if
      said termination 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(d). 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 Company
      established by the Board or its President and Chief Executive Officer from
      time
      to time; provided,
      however,
      that
      for the first such failure or refusal, the Executive shall be given written
      warning (providing at least a 10 day period for an opportunity to cure), and
      the
      second 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; 

    

    (iii) If
      the
      Executive shall have violated any banking law or regulation, memorandum of
      understanding, cease and desist order, or other agreement with any banking
      agency having jurisdiction over the Company which, in the judgment of the Board
      or its President and Chief Executive Officer, has adversely affected, or may
      adversely affect, the business or reputation of the Company as determined by
      the
      Board or its President and Chief Executive Officer;

    

    (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 Company as determined by the Board or its
      President and Chief Executive Officer; 

    

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

    

    (vi) If
      any
      banking authority having supervisory jurisdiction over the Holding Company
      or
      the Bank initiates any proceedings for removal of the Executive.

    

    (b) By
      the
      Executive upon the lapse of 30 days following written notice by the Executive
      to
      the Company 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 30 days, the Company
      shall have the opportunity to cure such Good Reason, for a period not to exceed
      30 days from the date of such notice, and the Executive’s employment shall
      continue in effect during such time so long as the Company makes diligent
      efforts during such time to cure such Good Reason. If such Good Reason shall
      be
      cured by the Company during such time, the Executive’s employment and the
      obligations of the Company 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 Company
      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 (i) any material breach by the Company of any
      provision of this Agreement, or (ii) any significant reduction (not pertaining
      to job performance issues), in the duties, responsibilities, authority or title
      of the Executive as an officer of the Company.

    

    (c) By
      the
      Executive upon the lapse of 45 days following written notice by the Executive
      to
      the Company of his resignation from the Company for other than Good Reason;
      provided,
      however,
      that
      the Company, in its discretion, may cause such termination to be effective
      at
      any time during such 45-day period. If the Executive’s employment is terminated
      because of the Executive’s resignation, the Company shall be obligated to pay to
      the Executive any salary and vacation amounts accrued and unpaid as of the
      effective date of such resignation.

    

    (d) By
      the
      Company, by action taken by its Board or its President and Chief Executive
      Officer, at any time if said termination is without Cause. 

    

    (e) Upon
      the
      termination of the Executive’s employment for any reason, the Executive shall be
      entitled to receive a lump sum payment equal to two times the Executive’s base
      annual salary in effect under Section 4(a) on the date of such termination
      of
      employment (which base annual salary shall be no less than the base annual
      salary being received by the Executive on January 1, 2007). In the event that
      the employment of the Executive is terminated as a result of the Executive’s
      death or disability, then any amounts payable to the Executive pursuant to
      this
      Section 8(e) shall be payable by the Company to the Executive’s successors,
      assigns, or estate, as the case may be.

    

    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
      Company, and thereafter subsequent to the termination of Executive’s services to
      the Company for any reason whatsoever, the Executive will not release or divulge
      any confidential information whatsoever relating to the Company or its business,
      to any other person or entity without the prior written consent of the Company.
      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 Company 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 Company 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 Company 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 Company, and thereafter for a period of two years
      subsequent to the termination of Executive’s services to the Company for any
      reason whatsoever, 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 (a “Competitive
      Activity”); 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 Company common
      stock owned by the Executive at the time of termination of employment.

    

    13.  Nonsolicitation;
      Noninterference; Nondisparagement.
      The
      Executive agrees that during the period of time the Executive is retained to
      provide services to the Company, and thereafter for a period of two years
      subsequent to the termination of Executive’s services to the Company for any
      reason whatsoever, the Executive will not (a) solicit for employment by
      Executive, or anyone else, or employ any employee of the Company or any person
      who was an employee of the Company within 12 months prior to such solicitation
      of employment; (b) induce, or attempt to induce, any employee of the Company
      to
      terminate such employee’s employment; (c) induce, or attempt to induce, anyone
      having a business relationship with the Company to terminate or curtail such
      relationship or, on behalf of himself or anyone else, to compete with the
      Company; or (d) 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. The Executive also agrees that during the term
      of
      this Agreement and thereafter, the Executive will not disparage, denigrate
      or
      comment negatively upon, either orally or in writing, the Company, any of its
      affiliates, or any of their respective officers or directors, to or in the
      presence of any person or entity, unless compelled to act by subpoena or other
      legal mandate.

    

    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 Company, whether arising out of this
      Agreement or any other agreement or contract between the Company 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.
      This
      Agreement shall be construed in accordance with and shall be governed by the
      laws of the State of Florida. 

    

    17.  Arbitration.
      Except
      for injunctive relief as provided in Section 11 above, all disputes between
      the
      parties hereto concerning the performance, breach, construction or
      interpretation of this Agreement, or in any manner arising out of this
      Agreement, shall be submitted to binding arbitration in accordance with the
      rules of the American Arbitration Association, which arbitration shall be
      carried out in the manner set forth below:

    

    (a) Within
      fifteen (15) days after written notice by one party to the other party of its
      demand for arbitration, which demand shall set forth the name and address of
      its
      designated arbitrator, the other party shall select its designated arbitrator
      and so notify the demanding party. Within fifteen (15) days thereafter, the
      two
      arbitrators so selected shall select the third arbitrator. The dispute shall
      be
      heard by the arbitrators within sixty (60) days after selection of the third
      arbitrator. The decision of any two arbitrators shall be binding upon the
      parties. Should any party or arbitrator fail to make a selection, the American
      Arbitration Association shall designate such arbitrator upon the application
      of
      either party. The decision of the arbitrators shall be final and binding upon
      the Company, its successors and assigns, and upon Executive, his successors
      and
      representatives, as the case may be.

    

    (b) Unless
      the Parties agree otherwise, the arbitration proceedings shall take place in
      the
      city where the headquarters of the Holding Company is located, and the judgment
      and determination of such proceedings shall be binding on all parties thereto.
      Judgment upon any award rendered by the arbitrators may be entered into any
      court having competent jurisdiction without any right of appeal.

    

    (c) Each
      party shall bear its or his own expenses of arbitration, and the expenses of
      the
      arbitrators and the arbitration proceeding shall be shared equally. However,
      if
      in the opinion of a majority of the arbitrators, any claim or defense was
      unreasonable, the arbitrators may assess, as part of their award, all or any
      part of the arbitration expenses of the other party (including reasonable
      attorneys’ fees) and of the arbitrators and the arbitration proceeding against
      the party raising such unreasonable claim or defense.

    

    18.  Binding
      Effect.
      This
      Agreement shall be binding on and inure to the benefit of the parties hereto
      and
      their respective successors and legal representatives and
      beneficiaries.

    

    19.  Effect
      on Other Agreements.
      This
      Agreement and the termination thereof shall not affect any other agreement
      between the Executive and the Company, 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 with
      respect to the subject matter hereof 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.

    

    

    
      	
              TIB
                FINANCIAL CORP.

               

            	
               

            	
              THE
                BANK OF VENICE

            
	
              By:

            	
               

            	
               

            	
              By:

            	
               

            
	
               

            	
              Edward
                V. Lett

            	
               

            	
              Name:

            	
               

            
	
               

            	
              President
                and Chief Executive Officer

            	
               

            	
              As
                Its:

            	
               

            
	
               

            	
               

            	
               

            	
               

            	
               

            

    

    

     

    
      	
               

            	
               

            	
               

            	
              “EXECUTIVE”

            
	
               

            	
               

            	
               

            	
              David
                F. Voigt, individually

            
	
               

            	
               

            	
               

            	
              Address:

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