SEC Contract Filing

Filing Date: 2019-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>8
<FILENAME>fibk-20181231xex1016.htm
<DESCRIPTION>PGAGLIA EMPLOYMENT AGREEMENT
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2019 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s5c8167b24be64aeda565537b6729e14f"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit&#160;10.16</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Employment Agreement (this &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;) is made effective as of April 3, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Effective Date</font><font style="font-family:inherit;font-size:10pt;">&#8221;), by and between First Interstate BancSystem, Inc., a Montana corporation (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;), First Interstate Bank, a Montana bank (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Bank</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and Philip Gaglia (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:10pt;">&#8221;). The Company, Bank and Executive are sometimes collectively referred to herein as the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Parties</font><font style="font-family:inherit;font-size:10pt;">.&#8221; </font></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WITNESSETH</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, Executive is currently employed as Executive Vice President and Chief Risk Officer of the Company and Bank (collectively, the Company and Bank shall be referred to in this Agreement as the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Employer</font><font style="font-family:inherit;font-size:10pt;">&#8221;); and</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, the Employer desires to assure itself of the continued availability of Executive&#8217;s services as provided in this Agreement; and </font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:10pt;">, Executive is willing to serve the Employer on the terms and conditions hereinafter set forth.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:10pt;">, in consideration of the mutual covenants herein contained, and upon the terms and conditions hereinafter provided, the Parties hereby agree as follows:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">POSITION AND RESPONSIBILITIES.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the term of this Agreement, Executive shall continue to serve in the capacity of Executive Vice President and Chief Risk Officer of the Employer. Executive shall continue to render such administrative and management services to the Employer as are currently rendered and as are customarily performed by persons situated in a similar executive capacity. Executive&#8217;s other duties shall be such as the President and Chief Executive Officer may from time to time reasonably direct. During the term of this Agreement, Executive also agrees to continue to serve as an officer of any subsidiary or affiliate of the Bank and to carry out the duties and responsibilities reasonably appropriate to those offices. </font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><t