SEC Contract Filing

Filing Date: 2015-02-26

Document Content:
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<TYPE>EX-10.8
<SEQUENCE>2
<FILENAME>a15-1120_1ex10d8.htm
<DESCRIPTION>EX-10.8
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.8</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Employment Agreement (this &#147;<b>Agreement</b>&#148;) is dated as of December&nbsp;4, 2014 (the &#147;<b><i style="font-weight:bold;">Effective Date</i></b>&#148;) and is entered into by and between Todd L. Salmans (&#147;<b>Executive</b>&#148;) and Hilltop Holdings Inc., a Maryland corporation (the &#147;<b>Company</b>&#148;), on behalf of itself and all of its subsidiaries (collectively &#147;<b>Employer</b>&#148;).&#160; As an inducement to continuing to render services to Employer, Executive and Employer agree as follows:</font></p>
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<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Employment</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.</font></b><font size="2" style="font-size:10.0pt;">&#160; Upon the terms and subject to the conditions contained in this Agreement, Executive agrees to provide full-time services for Employer during the term of this Agreement.&#160; Executive agrees to devote his best efforts to the business of Employer, and shall perform his duties in a diligent, trustworthy and business-like manner, all for the purpose of advancing the business of Employer.</font></p>
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<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Duties</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.</font></b><font size="2" style="font-size:10.0pt;">&#160; The duties of Executive shall be those duties that can reasonably be expected to be performed by a person with the title of Chief Executive Officer of a national mortgage company and its subsidiaries.&#160; Executive&#146;s duties may, from time to time, be changed or modified at the discretion of the President and Chief Executive Officer of the Company.&#160; Executive has received and is familiar with the Company&#146;s and Employer&#146;s employment, ethics and insider trading policies and procedures, and understands and agrees his duties include compliance with such policies and procedures, as amended from time to time.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Salary and Benefits</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.</font></b></p>
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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Base Salary</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.&#160; </font></b><font size="2" style="font-size:10.0pt;">Employer shall, during the term of this Agreement, pay Executive an annual base salary of Seven Hundred Fifty Thousand Dollars ($750,000).&#160; Such salary shall be paid in semi-monthly installments less applicable withholding and salary deductions.&#160; Base salary shall be reviewed at least annually by the Company, but may not be reduced.</font></p>
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