Document:

Exhibit 10.10
           Escrow Agreement between SunTrust Bank and Chestatee Bancshares, Inc.

                                ESCROW AGREEMENT

         This Escrow Agreement made effective September __, 2002, by and among
Chestatee Bancshares, Inc.(the "Company"), and SUNTRUST BANK, a Georgia banking
corporation authorized to execute trust powers under the laws of the United
States of America (the "Escrow Agent").

                              W I T N E S S E T H:
                               -------------------

         WHEREAS, the Company intends to raise $2,500,000.00 in capital by the
sale of shares of common stock (the "Interests") at a price of $10.00 per share
(the "Offering"). The Company is offering the Interests on a "best efforts"
basis; and

         WHEREAS, the Interests are being offered and sold to investors (the
"Subscribers") by the officers of the Company pursuant to an exemption from
registration under the Securities Act of 1933, as amended, and pursuant to
exemptions from registration under certain state securities laws.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, the parties agree as follows:

1.       Deposits / Record-Keeping.
         -------------------------

     A.   The Company shall deposit or cause to be deposited in escrow all
          subscription proceeds received from Subscribers (the "Escrowed
          Funds"). The Escrow Agent shall have no responsibility for
          subscription proceeds until those proceeds are actually received and
          clear through normal banking channels and become good funds. Checks
          should read: SunTrust Bank, N.A., Escrow Agent for Chestatee
          Bancshares, Inc.

     B.   The Company shall deliver to the Escrow Agent, in a form acceptable to
          Escrow Agent, type-written evidence of names and addresses of the
          Subscribers, the number of Interests subscribed for by each
          Subscriber, the certified Tax ID number, the amounts received from
          each Subscriber, and such information as will enable the Escrow Agent
          to attribute to a particular Subscriber all subscription proceeds
          received by the Escrow Agent from the Company. It is agreed that
          delivery by the Company to the Escrow Agent of fully completed and
          signed Subscription Agreements, along with the checks, shall satisfy
          the foregoing requirement; provided, however, such shall not be the
          exclusive method for satisfying the foregoing requirement.

     C.   Pursuant to 12 C.F.R. 330.4, the Escrow Agent shall expressly
          disclose, by way of specific reference on its deposit account records,
          that the deposit account in which Escrowed Funds are held, is held by
          the Escrow Agent as a fiduciary. The Escrow Agent's records will
          acknowledge that the Company is also acting in an agency capacity on
          behalf of the Subscribers pursuant to Securities and Exchange
          Commission Regulation 240.15c2-4. The Escrow Agent will take all
          necessary action to comply with the FDIC's deposit insurance
          regulations regarding record-keeping requirements, as they may be
          amended from time to time, so as to sufficiently disclose for purposes
          of those regulations that the Escrowed Funds are held by the Escrow
          Agent as agent or custodian for the actual owners of the Escrowed
          Funds.

<PAGE>
2.       Rejection of Subscription Agreement.
         -----------------------------------

     A.   The Company must notify the Escrow Agent, in writing, that a
          Subscription Agreement was rejected. Any Subscription Agreement may be
          rejected by the Company in whole or in part. Upon the receipt of a
          notice of rejection or partial return, the Escrow Agent shall return
          to the Subscriber signing the rejected Subscription Agreement the
          amount tendered therewith without deduction or interest, as long as
          the check has cleared and becomes good funds.

     B.   At any time prior to receiving notice pursuant to Paragraph 3.A. that
          a subscription has been accepted, the Escrow Agent may receive notice
          from the Company that a particular Subscription Agreement has been
          withdrawn. Upon receipt of a notice of withdrawal of a Subscription
          Agreement, the Escrow Agent shall return to the Subscriber who signed
          the withdrawn Subscription Agreement, the Subscription Agreement (if
          then in the Escrow Agent's possession) and the amount tendered
          therewith, without deduction or interest. The Company shall have the
          responsibility to return any withdrawn Subscription Agreement in its
          possession.

3.       Disbursement.
         ------------

     A.   At such time as the Escrow Agent has received written notice from the
          Company that subscriptions have been received by the Company and
          placed in escrow with the Escrow Agent, the Escrow Agent shall,
          subject to the receipt of said money, transfer the subscription
          proceeds with respect to any subscription accepted by the Company to
          the account of Chestatee Bancshares, Inc. at SunTrust Bank for
          appropriate distribution. As soon as practical after the receipt of
          notice from the Company of termination of the Offering by the Company
          (the "Termination Date"), the Escrow Agent shall disburse to the
          account of Chestatee Bancshares, Inc. at SunTrust Bank, Atlanta all of
          the subscription proceeds received and collected from all subscribers
          and at such time this Escrow Agreement will terminate.

     B.   If good funds have not been deposited into escrow by October 31, 2002
          (or December 31, 2002 if the Company elects to extend the offering),
          then this Escrow Agreement shall terminate.

     C.   The Company shall make available a true copy of this Escrow Agreement
          to each Subscriber.

4.       Escrow Agent.
         ------------

         The parties further covenant, warrant and agree that the Escrow Agent:

     A.   May invest all funds, to the extent permitted by law and this Escrow
          Agreement, and at the written direction of the Company, in the STI
          Classic U.S. Treasury Securities Money Market Fund and/or short-term
          investment funds (in which the Escrow Agent customarily invests funds
          on behalf of its customers generally) invested in obligations issued
          or guaranteed by the United States of America;
<PAGE>
     B.   Escrow Agent shall be compensated for its services in accordance with
          the schedule of fees in Exhibit A attached hereto, which may be
          deducted by Escrow Agent from investment earnings, if any, on the
          Escrowed Funds; however, the Company shall be responsible for payment
          of all agreed fees of Escrow Agent hereunder. Except for the fee, all
          interest or earnings on escrow shall be paid to the Company at
          termination date.

5.       Indemnification and Exculpation.
         -------------------------------

     A.   Escrow Agent undertakes to perform only such duties as expressly set
          forth herein, and no additional duties or obligations shall be implied
          hereunder. In performing its duties under this Escrow Agreement, or
          upon the claimed failure to perform any of its duties hereunder,
          Escrow Agent shall not be liable to anyone for any damages, losses or
          expenses which may be incurred as a result of Escrow Agent's so acting
          or failing to so act; provided, however, Escrow Agent shall not be
          relieved from liability for damages arising out of its proven gross
          negligence or willful misconduct under this Escrow Agreement. Escrow
          Agent shall in no event incur any liability with respect to (i) any
          action taken or omitted to be taken in good faith upon advice of legal
          counsel, which may be counsel to any party hereto, given with respect
          to any question relating to the duties and responsibilities of Escrow
          Agent hereunder or (ii) any action taken or omitted to be taken in
          reliance upon any instrument delivered to Escrow Agent and believed by
          it to be genuine and to have been signed or presented by the proper
          party or parties.

     B.   The Company warrants to and agrees with Escrow Agent that, unless
          otherwise expressly set forth in this Escrow Agreement, there is no
          security interest in the Escrowed Funds or any part of the Escrowed
          Funds; no financing statement under the Uniform Commercial Code of any
          jurisdiction is on file in any jurisdiction claiming a security
          interest in or describing, whether specifically or generally, the
          Escrowed Funds or any part of the Escrowed Funds; and the Escrow Agent
          shall have no responsibility at any time to ascertain whether or not
          any security interest exists in the Escrowed Funds or any part of the
          Escrowed Funds or to file any financing statement under the Uniform
          Commercial Code of any jurisdiction with respect to the Escrowed Funds
          or any part thereof.

     C.   As an additional consideration for and as an inducement for Escrow
          Agent to act hereunder, it is understood and agreed that, in the event
          of any disagreement between the parties to this Escrow Agreement or
          among them or any other person(s) resulting in adverse claims and
          demands being made in connection with or for any money or other
          property involved in or affected by this Escrow Agreement, Escrow
          Agent shall be entitled, at the option of Escrow Agent, to refuse to
          comply with the demands of such parties, or any of such parties, so
          long as such disagreement shall continue. In such event, Escrow Agent
          shall make no delivery or other disposition of the Escrowed Funds or
          any part of such Escrowed Funds. Anything herein to the contrary
          notwithstanding, Escrow Agent shall not be or become liable to such
          parties or any of them for the failure of Escrow Agent to comply with
          the conflicting or adverse demands of such parties or any of such
          parties. Escrow Agent shall be entitled to continue to refrain and
          refuse to deliver or otherwise dispose of the Escrowed Funds or any
          part thereof or to otherwise act hereunder, as stated above, unless
          and until:
<PAGE>
          (i)  the rights of such parties have been finally settled by binding
               arbitration or duly adjudicated in a court having jurisdiction of
               the parties and the Escrowed Funds and Escrow Agent, has received
               written instructions as to disbursement of regard thereto; or

          (ii) the parties have reached an agreement resolving their differences
               and have notified Escrow Agent in writing of such agreement and
               have provided Escrow Agent with indemnity satisfactory to Escrow
               Agent against any liability, claims or damages resulting from
               compliance by Escrow Agent with such agreement.

     In the event of a disagreement between such parties as described above,
Escrow Agent shall have the right, in addition to the rights described above and
at the option of Escrow Agent, to tender into the registry or custody of any
court having jurisdiction, all money and property comprising the Escrowed Funds
and may take such other legal action as may be appropriate or necessary, in the
opinion of Escrow Agent or its counsel. Upon such tender, the parties hereto
agree that Escrow Agent shall be discharged from all further duties under this
Escrow Agreement; provided, however, that the filing of any such legal
proceedings shall not deprive Escrow Agent of its compensation hereunder earned
prior to such filing and discharge of Escrow Agent of its duties hereunder.

     D.   The parties hereto jointly and severally agree that, in the event any
          controversy arises under or in connection with this Escrow Agreement
          or the Escrowed Funds or Escrow Agent is made a party to or intervenes
          in any litigation pertaining to this Escrow Agreement or the Escrowed
          Funds, to pay to Escrow Agent reasonable compensation for its
          extraordinary services and to reimburse Escrow Agent for all costs and
          expenses, including legal fees and expenses, associated with such
          controversy or litigation.

     E.   Escrow Agent may resign at any time from its obligations under this
          Escrow Agreement by providing written notice to the parties hereto.
          Such resignation shall be effective on the date set forth in such
          written notice which shall be no earlier than ten (10) days after such
          written notice has been given. In the event no successor escrow agent
          has been appointed on or prior to the date such resignation is to
          become effective, Escrow Agent shall be entitled to tender into the
          custody of a court of competent jurisdiction all assets then held by
          it hereunder and shall thereupon be relieved of all further duties and
          obligations under this Escrow Agreement provided however, Escrow Agent
          shall be entitled to its compensation earned prior thereto. Escrow
          Agent shall have no responsibility for the appointment of a successor
          escrow agent hereunder.

     F.   Escrow Agent shall have no obligation to take any legal action in
          connection with this Escrow Agreement or toward its enforcement, or to
          appear in, prosecute or defend any action or legal proceeding which
          would or might involve it in any cost, expense, loss or liability
          unless security and indemnity, as provided in this paragraph, shall be
          furnished.
<PAGE>

     The Company agrees to indemnify Escrow Agent and its officers, directors,
employees and agents and save Escrow Agent and its officers, directors,
employees and agents harmless from and against any and all Claims (as
hereinafter defined) and Losses (as hereinafter defined) which may be incurred
by Escrow Agent or any of such officers, directors, employees or agents as a
result of Claims asserted against Escrow Agent or any of such officers,
directors, employees or agents as a result of or in connection with Escrow
Agent's capacity as such under this Escrow Agreement by any person or entity.
For the purposes hereof, the term "Claims" shall mean all claims, lawsuits,
causes of action or other legal actions and proceedings of whatever nature
brought against (whether by way of direct action, counterclaim, cross action or
interpleader) Escrow Agent or any such officer, director, employee or agent,
even if groundless, false or fraudulent, so long as the claim, lawsuit, cause of
action or other legal action or proceeding is alleged or determined, directly or
indirectly, to arise out of, result from, relate to or be based upon, in whole
or in part: (a) the acts or omissions of the Company, (b) the appointment of
Escrow Agent as escrow agent under this Escrow Agreement, or (c) the performance
by Escrow Agent of its powers and duties under this agreement; and the term
"Losses" shall mean losses, costs, damages, expenses, judgments and liabilities
of whatever nature (including but not limited to attorneys', accountants' and
other professionals' fees, litigation and court costs and expenses and amounts
paid in settlement), directly or indirectly resulting from, arising out of or
relating to one or more Claims. Upon the written request of Escrow Agent or any
such officer, director, employee or agent (each referred to hereinafter as an
"Indemnified Party"), the Company agrees to assume the investigation and defense
of any Claim, including the employment of counsel acceptable to the applicable
Indemnified Party and the payment of all expenses related thereto and,
notwithstanding any such assumption, the Indemnified Party shall have the right,
and the Company agrees to pay the cost and expense thereof, to employ separate
counsel with respect to any such Claim and participate in the investigation and
defense thereof in the event that such Indemnified Party shall have been advised
by counsel that there may be one or more legal defenses available to such
Indemnified Party which are different from or additional to those available to
the Company. The Company hereby agrees that the indemnifications and protections
afforded Escrow Agent in this section shall survive the termination of this
Escrow Agreement.

     In order to induce and as partial consideration for Escrow Agent's
acceptance of this Escrow Agreement, the Company acknowledges that Escrow Agent
is serving as escrow agent for the limited purposes set forth herein and
represents, covenants and warrants to Escrow Agent that no statement or
representation, whether oral or in writing, has been or will be made to any
prospective subscribers for any of the Interests to the effect that Escrow Agent
has investigated the desirability or advisability of investment in the Interests
or approved, endorsed or passed upon the merits of such investment or is
otherwise involved in any manner with the transactions or events contemplated in
the Company's Offering memorandum, other than as Escrow Agent under this Escrow
Agreement. It is further agreed that no party shall in any way use the name
"SunTrust Bank" or "SunTrust Banks, Inc." in any sales presentation or
literature except in the context of the duties of the Escrow Agent as escrow
agent of the offering of the Interests in the strictest sense. Any breach or
violation of the paragraph shall be grounds for immediate termination of this
Escrow Agreement by Escrow Agent in accordance with the terms and provisions set
forth herein.

     Without limitation to any release, indemnification or hold harmless
provision in favor of Escrow Agent as elsewhere provided in this Escrow
Agreement, the Company agrees to indemnify Escrow Agent and its officers,
directors, employees and agents and to hold Escrow Agent and such officers,
directors, employees and agents and to hold Escrow Agent and such officers,
directors, employees and agents harmless from and against all liability, costs,
losses and expenses, including but not limited to attorneys' fees and expenses
which are suffered or incurred by Escrow Agent or any such officer, director,
employee or agent as a direct or indirect result of the threat or the
commencement of any claim or proceeding against Escrow Agent or any such
officer, director, employee or agent based in whole or in part upon the
allegation of a misrepresentation or an omission of a material or significant
fact in connection with the same or subscription of any one or more of the
Interests. Escrow Agent shall have no responsibility for approving or accepting
on behalf of the Company any proceeds delivered to it hereunder, nor shall
Escrow Agent be responsible for authorizing issuance of the Interests or for
determining the qualification of any purchaser or the accuracy of the
information contained in the Company's Offering memorandum.
<PAGE>
6.       Notices.
         -------

     Any and all notices, elections, demands, requests and responses thereto
permitted or required to be given under this Escrow Agreement shall be in
writing, signed by or on behalf of the party giving the same, and shall be
deemed to have been properly given and shall be effective upon being personally
delivered or delivered by nationally recognized courier such as Federal Express
which maintains a record of receipt and delivery, or three (3) days after being
deposited in the United States mail, postage prepaid, certified with return
receipt requested, or by facsimile, followed by said mail, to the other party at
the address of such other party set forth below or at such other address within
the continental United States as such other party may designate by notice
specifically designated as a notice of change of address and given in accordance
herewith; provided, however, that the time period in which a response to any
such notice, election, demand or request must be given shall commence on the
earlier of the date of actual or deemed receipt thereof; and provided further
that no notice of change of address shall be effective until the earlier of the
date of actual or deemed receipt thereof. Personal delivery to a party or to any
officer, agent or employee of such party at said address shall constitute
receipt. Rejection or other refusal to accept or inability to deliver because of
changed address of which no notice have been received shall also constitute
receipt. Any such notice, election, demand, request or response shall be
addressed as follows:

                  If to the Company:

                  Chestatee Bancshares, Inc.
                  6639 HWY 53 E.
                  Dawsonville, Ga 30534

                  With a copy to:

                  Chestatee State Bank Attn : Philip Hester, Pres/CEO 6639 HWY
                  53 E.
                  Dawsonville, GA 30534

                  If to the Escrow Agent:

                  SunTrust Bank, Atlanta
                  Stock Transfer Department
                  58 Edgewood Avenue
                  Room 225
                  Atlanta, GA 30303
                  Attn:    Bryan Echols
                  Phone:   (404) 588-7622
                  Fax:     (404) 332-3875
<PAGE>
7.       Successors and Assigns.
         ----------------------

     The rights created by this Escrow Agreement shall inure to the benefit of
and the obligations created hereby shall be binding upon the successors and
assigns of the Escrow Agent and the Company. This Escrow Agreement may not be
amended without the written consent of all parties in writing.

8.       Construction.
         ------------

     This Escrow Agreement shall be construed and enforced according to the laws
of the State of Georgia.

9.       Term.
         ----

     A.   This Escrow Agreement shall terminate and the Escrow Agent shall be
          discharged of all responsibility hereunder at such time as the Escrow
          Agent shall have transferred to the account of the Company (as
          appropriate) all amounts deposited with it (along with interest earned
          thereon) with respect tosubscriptions for shares of common stock
          accepted by the Company or this Escrow Agreement is terminated earlier
          pursuant to Paragraphs 3.A or 9.B of this Escrow Agreement.

     B.   Notwithstanding anything herein to the contrary, upon receipt of
          written notice from the Company that the Offering has been terminated
          with or without acceptance of subscriptions for Interests, the Escrow
          Agent shall return to each Subscriber whose subscription has not been
          accepted by the Company by such time, the subscription proceeds
          received and collected from him hereunder, and at such time this
          Escrow Agreement will terminate. Any 1099 interest earned shall be
          reported to the IRS by the Escrow Agent.

     C.   In no event shall this Escrow Agreement be in effect for a period
          beyond December 31, 2002 and, on that date, all sums shall be
          transferred pursuant to Paragraph 3.B hereof.

     IN WITNESS WHEREOF, the parties hereto have executed this Escrow Agreement
on the day and year first above written.

                     "COMPANY"

                     Chestatee Bancshares, Inc.

                     By:
                              ----------------------------------------
                     Name:    Deborah F. McLeod
                     Title:   CFO

                     "ESCROW AGENT"

                     SUNTRUST BANK

                     By:
                              ----------------------------------------
                     Name:
                              ----------------------------------------
                     Title:
                              ----------------------------------------

<PAGE>

                                   Exhibit A
                                   ---------

                                Schedule of Fees
                                ----------------

<PAGE>Exhibit 10.18

 

Certain confidential information has been omitted from this Exhibit 10.18 pursuant to a request for an order of the Securities Exchange Commission granting confidential treatment that has been filed separately with the Securities and Exchange Commission.  The omitted information is indicated by the symbol “[*]” at each place in this Exhibit 10.18 where the omitted information appeared in the original document.

 

 

CONFIDENTIAL

SEPARATION AGREEMENT

This

Separation Agreement (“Agreement”) is made by and between Home Federal Bank

(“the Company”), a federally chartered savings institution, and Gene F. Uher

(“Employee”).

RECITALS

Employee

has been employed by Home Federal Bank as an Officer and Employee in the

position of President/Home Federal Bank. 

[*].

AGREEMENT

In consideration of the

recitals stated above and the mutual promises made below, the

parties

agree as follows:

1.                                       [*]:  Employee will be relieved of all of his

responsibilities as an Officer effective 12:00 noon, February 26, 2002 and as

an Employee of the Company as of 12:00 midnight, March 29,2002.  Employee will be relieved of his daily

responsibilities no later than 12:00 noon, February 26, 2002, unless mutually

agreed to an earlier date.  Employee

shall provide consultation and information to the Company when requested

through the March 29, 2002.

2.                                       Final Wages:  On March 29, 2002, the Employee will receive

a final payroll earnings payment, including any accrued but unused Personal

Time Off (“PTO”) as of March 15, 2002. 

The Company shall deduct customary withholdings, including Federal

Income tax, Medicare tax and Social Security tax from this final earnings

check.  In addition, Employee will be

reimbursed by the Company for any ordinary/reasonable expenses advanced or

incurred in the performance of his duties up to February 26, 2002.  In addition, in accordance with Section 6

(b) of the Employment Agreement dated March 3rd, 1997, Employee shall receive

his current base salary ($148,000 annual) through April 8, 2003, on the current

semi-monthly cycle.  The Company shall

deduct customary withholdings, including FICA, Medicare tax and Federal income

tax from these earnings.

3.                                       Employee

Benefit Plans:

Health Coverage:  Employee may continue his health coverage

under the Company’s group health plan, with the Company paying the Employer

portion of

 

Certain confidential information has been omitted from

this Exhibit 10.18 pursuant to a request for an order of the Securities

Exchange Commission granting confidential treatment that has been filed

separately with the Securities and Exchange Commission.  The omitted information is indicated by the

symbol “[*]” at each place in this Exhibit 10.18 where the omitted information

appeared in the original document.

 

the monthly rate, with the Employee portion deducted

from his semi-monthly salary payments through April 30, 2003.  On that date, Employee will incur a

qualifying event for COBRA continuation of health coverage and at that time

will be notified of the opportunity available to him to elect to continue to

participate in the Company’s group health benefits program as a COBRA continuee

as allowed by law and the terms of those Employee benefit plans, and subject to

Employee’s payment of the monthly COBRA rates by the 1st of the month for which

the

coverage is provided during the continuation period

provided by law, for a period of up to eighteen (18) months from April 30,

2003.  Any payment by the Company of

health plan monthly rates shall cease if/when the Employee later obtains other

group medical coverage (without pre-existing conditions being excepted).  The Employee is under an affirmative

obligation to immediately notify the Company when he becomes covered under

another group health plan.

Other Benefits: Employee’s dental,

short-term, long-term disability and life insurance will be terminated as of

March 31, 2002.  The Company currently provides Employee with a

membership in a local country club.  The

Company will not continue paying the membership dues after March 29, 2002.

Retirement Plans: The Employee shall be 100%

vested in the HF Financial Corp. Pension Plan and the HF Financial Corp.

Retirement Savings Plan as of June 30, 2002. 

No Employer contributions will be credited or allocated to the Employee

after the date of his termination of employment on March 29, 2002 except for

allocation of Matching Contribution to the Retirement Savings Plan for the last

pay period in March.  Distribution of

vested benefits will be provided under the terms of the respective Plans.

4.                                       Stock Options:  The Company acknowledges that, under the

terms of the 1991 Stock Option and Incentive Plan for HF Financial Corp.,

Employee may exercise those options to purchase shares of HF Financial Corp.

stock in which he is vested if he notifies the Company in writing of his

intention to exercise and pays the exercise price.  He must take such action within the three months immediately

following the cessation of his continuous service on March 29, 2002.  Employee is vested in the right to acquire

certain shares of HF Financial Corp. stock under the terms of Stock Option

Agreements between himself and the Company.

5.                                       HF Financial

Corp. Excess Pension Plan for Executives and the Deferred Compensation Plan for

Executives:  Employee

is vested in the balances credited to him under these plans, the HF Financial

Excess Pension Plan for Executives and the Deferred Compensation Plan for

Executives.  Distribution of benefits

shall meet the requirements of each plan.

 

Certain

confidential information has been omitted from this Exhibit 10.18 pursuant to a

request for an order of the Securities Exchange Commission granting

confidential treatment that has been filed separately with the Securities and

Exchange Commission.  The omitted

information is indicated by the symbol “[*]” at each place in this Exhibit

10.18 where the omitted information appeared in the original document.

 

 

6.                                       [*].

7.                                       Return of

Property:  Employee

agrees to return promptly all files, documents, or property of any kind in

Employee’s possession or control relating to, or the property of, the Company,

its affiliates or customers, including but not limited to any and all office

keys, credit cards, security cards, computers, office equipment, software

products, including diskettes and tapes, or Company products.  Employee acknowledges that this obligation

is continuing and agrees to promptly return to the Company any subsequently

discovered property as described above.

8.                                       Indemnification:  Employee will be covered by the

indemnification provisions of the Company’s Articles and Bylaws, as well as

applicable insurance policies (subject to the conditions stated therein), for

his actions on behalf of the Company during the term of his employment.

9.                                       Non-Disparagement:  Employee agrees to not make any negative or

disparaging remarks or comments about the Company; it’s affiliated or related

companies, or any of the foregoing entities’ directors, officers, employees or

products.

10.                                 Non-Admission:  The Company expressly denies any and all

liability to Employee and the parties agree that nothing in this Agreement is

intended to be, nor shall be deemed to be, an admission of liability or

wrongdoing, an admission of the existence of any facts upon which liability or

wrongdoing could be based, or a waiver of any defense to any such liability or

wrongdoing.

11.                                 Confidentiality:  Employee agrees to keep the terms and

conditions of this Agreement confidential and not disclose them to any person

other than Employee’s immediate family, taxing authorities, attorneys, or

accountants as necessary or required by law. 

Employee further acknowledges that during the course of his employment

with the Company he had access to and knowledge of confidential, trade secret,

and proprietary information of the Company. 

Employee agrees to not disclose to anyone outside or inside the Company,

or use for his own benefit or the benefit of others, this information without

the express written consent of the Company. 

Employee acknowledges that unauthorized disclosure or use of this

information would be unfair and would cause the Company irreparable harm.

12.                                 Breach:  If Employee breaches any of Employee’s

obligations contained in this Agreement, the Company may pursue any and all

legal remedies and seek damages for breach of this Agreement.  Employee also agrees that the Company shall,

in addition to any relief afforded by law, be entitled to injunctive relief.

 

Certain

confidential information has been omitted from this Exhibit 10.18 pursuant to a

request for an order of the Securities Exchange Commission granting confidential

treatment that has been filed separately with the Securities and Exchange

Commission.  The omitted information is

indicated by the symbol “[*]” at each place in this Exhibit 10.18 where the

omitted information appeared in the original document.

 

Employee understands and agrees that both damages at

law and injunctive relief shall be proper modes of relief and are not to be

considered alternative remedies.

13.                                 Severability:  In case any one or more of the provisions of

this Agreement should be determined invalid, illegal, or unenforceable in any

respect by a court of competent jurisdiction, the validity, legality, and

enforceability of the remaining provisions contained in this Agreement will not

in any way be affected or impaired thereby.

14.                                 Heirs,

Successors, and Assigns: 

This Agreement shall be binding upon Employee and upon Employee’s heirs,

administrators, representatives, or executors, and upon the Company’s

successors or assigns.  Employee shall

make no assignment of this Agreement, and such purported assignment shall be

null and void.

15.                                 Governing Law: This

Agreement shall be construed and interpreted in accordance with the internal

laws of the State of South Dakota, without regard to conflict of laws

provisions.

                IN WITNESS WHEREOF,

the parties have caused this Separation Agreement to be executed on the date

set forth below.

	

   

  	

   

  	

  COMPANY

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  HOME

  FEDERAL BANK

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  Dated:  2/26/02

  	

   

  	

  By:

  	

  /s/  Curtis L. Hage

  
	

   

  	

   

  	

  Its:

  	

  Chairman/CEO

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  EMPLOYEE

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  Dated:  3/01/02

  	

   

  	

  /s/

  Gene F. Uher

  
	

   

  	

   

  	

  Gene F. Uher

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]