SEC Contract Filing

Filing Date: 2016-09-28

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d270916dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CHANGE IN CONTROL, CONFIDENTIALITY, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND NONCOMPETITION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS CHANGE IN CONTROL, CONFIDENTIALITY AND NONCOMPETITION AGREEMENT</B> is made and entered into this 28th day of September, 2016 by and
between <B>BAR HARBOR BANKSHARES</B>, a Maine corporation with its headquarters located in Bar Harbor, Maine (hereinafter, &#147;the Company&#148;), and<B> Richard B. Maltz</B>, a resident of Hampden, Maine (hereinafter, &#147;the
Executive&#148;).<B> </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Bar Harbor Bank and Trust is a wholly-owned first tier banking subsidiary of Bar Harbor Bankshares, and Bar Harbor Trust Services is
a second tier non-depository trust company subsidiary of Bar Harbor Bankshares; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Executive is an employee of the
Employer; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Employer wishes to retain the services of the Executive by providing the assurances contained herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the parties hereto do hereby agree as follows: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U><B>DEFINTIONS.</B></U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1.&nbsp;Bank shall mean Bar Harbor Bank and Trust. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2.&nbsp;Base Compensation shall mean the annual base salary payable by the Employer to the Executive, excluding any bonuses, incentive
compensation and other forms of additional compensation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3&nbsp;Cause shall mean or be deemed to exist only in the event: (i)&nbsp;the
Executive is charged with or convicted of, or pleads guilty, no contest or nolo contendere to, or enters into a pre-trial diversion program in connection with, any crime or criminal offense involving dishonesty, breach of trust, money laundering, or
the illegal manufacture, sale or distribution of, or trafficking in, controlled substances; (ii)&nbsp;the Executive engages in or commits an act of gross or willful misconduct, gross or willful negligence, or gross insubordination in connection with
the performance of his or her duties, functions or responsibilities for the Employer; (iii)&nbsp;the Executive engages in or commits an act of fraud, misappropriation, material dishonesty, theft, embezzlement, conversion, self-dealing, obtaining
funds or property under false pretenses, or other material malfeasance against or in connection with the business of the Company, the Bank, Trust Services, or any of their subsidiaries or affiliates; (iv)&nbsp;the Executive breaches any fiduciary
duty he or she owes to the Employer; (v)&nbsp;the Executive materially violates any federal, state or local securities or banking laws, rules or regulations, or any rules or regulations of any </P>

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applicable regulatory or self-regulatory organization, and such violation, if curable under the circumstances (as determined by the Employer, in its reasonable discretion), is not cured to the
Employer&#146;s reasonable satisfaction within thirty (30)&nbsp;days after the Executive&#146;s receipt of written notice of such breach (the &#147;<U>Cause Cure Period</U>&#148;); (vi)&nbsp;the Executive&#146;s material breach of the Company&#146;s
drug and alcohol use, harassment and discrimination-free work environment, or workplace violence policies, or any other similarly material written policy or rule of the Employer, and such breach, if curable under the circumstances (as determined by
the Employer, in its reasonable discretion), is not cured to the Employer&#146;s reasonable satisfaction within the Cause Cure Period; and/or (vii)&nbsp;the Executive&#146;s material breach of Section&nbsp;7 of this Agreement and such breach, if
curable under the circumstances (as determined by the Employer, in its reasonable discretion), is not cured to the Employer&#146;s reasonable satisfaction within the Cause Cure Period. For purposes of clauses (v), (vi)&nbsp;and (vii)&nbsp;of this
paragraph, if the Executive cures the specified violation or breach during the Cause Cure Period, Cause shall be deemed not to have occurred, provided that the Executive may cure a specific violation or breach for which he or she is entitled to
notice only one (1)&nbsp;time and, if the