SEC Contract Filing

Filing Date: 2018-09-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3 EMPLOYMENT AGREEMENT FOR TESSA NOLAN
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Luse Gorman
 Document created using EDGARfilings PROfile 4.5.0.0
 Copyright 1995 - 2018 Broadridge-->
</head>
<body style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif" bgcolor="#ffffff" text="#000000">
<div style="TEXT-ALIGN: right">Exhibit 10.3</div>

<div>&#160;</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">EMPLOYMENT <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">AGREEMENT</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">THIS EMPLOYMENT AGREEMENT <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(this </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">"</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Agreement"</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">is made and entered into as of September 1, 2018 (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Effective Date</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">") by and among </font>Community First Bancshares, Inc.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">, a federally-charted corporation organized under the laws of the United States of America (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Company</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">"), Newton Federal Bank, a federally-chartered savings association organized under the laws of the United States of America (the "</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Bank</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">" and together with the Company, the </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">"Employer"</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">), and Tessa M. Nolan, a resident of the State of Georgia (the </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">"</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Executive</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">"</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">).</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">RECITALS<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">:</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">, the </font>Employer <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">desires to employ the </font>Executive <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">on the terms and conditions set forth </font>herein<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">;</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">, the </font>Executive <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">desires to be employed by </font>the Employer <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">and is willing to enter into this </font>Agreement <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">in consideration of the agreements set forth below;</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">NOW <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">THEREFORE, in consideration of the foregoing and for good and valuable consideration, the receipt, adequacy, and sufficiency of which are </font>hereby <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">acknowledged, the </font>Employer <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">and the </font>Executive hereby <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">agree as follows:</font></div>

<div><br>
</div>

<div>
<table id="zc630e3b151b441cb830279530ac48dc6" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">1.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><fon