SEC Contract Filing

Filing Date: 2018-09-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10x3xhtbix091118.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sC5D8F15EA458636A6830B4549652A093"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">AMENDED AND RESTATED EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">OF</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">TONY J. VUNCANNON</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (&#8220;Agreement&#8221;) is made and entered into as of this ____ day of ________ 2018, by and between HomeTrust Bancshares, Inc, Asheville, North Carolina (hereinafter referred to as the &#8220;Company&#8221;) and Tony J. VunCannon (the &#8220;Employee&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company and the Employee previously entered into an employment agreement on July 10, 2012 (the &#8220;Prior Agreement&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Employee currently serves as the Executive Vice President, Treasurer and Chief Financial Officer of both the Company and HomeTrust Bank, Asheville, North Carolina (the &#8220;Bank&#8221;); </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Board of Directors of the Company believes it is in the best interests of the Company and the Bank to enter into this Agreement with the Employee, which amends and restates the Prior Agreement in its entirety, in order to (a) reduce the amount of severance payable to the Employee under certain circumstances, (b) clarify the provisions regarding confidential information, (c) add non-competition provisions and expand the non-solicitation provisions, (d) ensure compliance with Section 409A of the Code, (e) delete certain regulatory provisions no longer required to be included in light of the change in the Bank&#8217;s charter, and (f) make certain other changes; and</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Board of Directors has approved and authorized the execution of this Agreement with the Employee;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements of the parties herein contained, it is AGREED as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) &#160;&#160;&#160;&#160;The term &#8220;Cash Compensation&#8221; shall mean the highest annual base salary rate paid to the Employee at any time during his employment by the Company and its Consolidated Subsidiaries, plus the higher of (i) the Employee&#8217;s annual bonus paid during the year immediately preceding the Date of Termination, or (ii) the Employee&#8217;s target bonus for the year in which the Date of Termination occurs, in each case including any salary or bonus amounts deferred by the Employee. </font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;The term "Change in Control" means any of the following events: (1) any person or persons acting as a group (within the meaning of Section 409A of the Code) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company or the Bank possessing 30% or more of the total voting power of the outstanding stock of the Company or the Bank; (2) individuals </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">who are members of the Board of Directors of the Company on the date hereof (the "Incumbent Board") cease for any reason during any 12-month period to const