SEC Contract Filing

Filing Date: 2023-05-09

Document Content:
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<TYPE>EX-10.21
<SEQUENCE>2
<FILENAME>brhc20052446_ex10-21.htm
<DESCRIPTION>EXHIBIT 10.21
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 <div style="text-align: right; font-family: Arial;">Exhibit 10.21</div>
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 <div style="text-align: center; font-weight: bold; font-family: Arial;">EXECUTIVE VICE PRESIDENT</div>
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 <div style="text-align: center; font-weight: bold; font-family: Arial;">EMPLOYMENT, CONFIDENTIALITY</div>
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 <div style="text-align: center; font-weight: bold; font-family: Arial;">AND NON-DISCLOSURE AGREEMENT</div>
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 <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: Arial;">PART I</div>
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 <div style="text-align: center; font-weight: bold; font-family: Arial;">PARTIES TO AGREEMENT</div>
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 <div style="font-family: Arial;">Section 1.01 - Parties:&#160; This Employment Agreement (hereinafter referred to as the &#8220;Agreement&#8221;) is entered into by and between Farmers &amp; Merchants Bank of Central California, a California banking corporation (the
 &#8220;Bank&#8221;), its successors and assigns, and Bart R. Olson (hereinafter referred to as &#8220;Employee&#8221;).&#160; The Bank and Employee are sometimes collectively referred to hereinafter as the &#8220;Parties&#8221; and individually as a &#8220;Party&#8221;.</div>
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 <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: Arial;">PART II</div>
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 <div style="text-align: center; font-weight: bold; font-family: Arial;">EMPLOYMENT</div>
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 <div style="font-family: Arial;">Section 2.01 - Employment:&#160; The Bank hereby agrees to employ Employee, and Employee hereby accepts such employment with the Bank, in accordance with the terms and conditions set forth herein.</div>
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 <div style="font-family: Arial;">Section 2.02 - Term of Employment:&#160; This Agreement shall become effective on March 27, 2023.&#160; This Agreement shall terminate on December 31, 2024 unless earlier terminated pursuant to the provisions of Part VII herein.&#160;
 If this Agreement is not terminated pursuant to Part VII, and provided Employee enters into an effective general release of claims at that time in the form attached hereto as Exhibit A, the Agreement shall renew automatically for an additional two
 year term, and for successive additional two year terms thereafter, unless earlier terminated pursuant to the provisions of Part VII.</div>
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 <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold; font-family: Arial;">PART III</div>
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 <div style="text-align: center; font-weight: bold; font-family: Arial;">DUTIES OF EMPLOYEE</div>
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 <div style="font-family: Arial;">Section 3.01- General Duties:&#160; During the term of this Agreement, Employee shall be employed as Executive Vice President and Chief Financial Officer under the direction of the Chairman, President and Chief Executive
 Officer and shall perform and discharge well and faithfully the duties that may be assigned to Employee from time to time by the Chairman, President and Chief Executive Officer in connection with the conduct of the Bank&#8217;s business.&#160; Nothing herein
 shall preclude the Bank&#8217;s Board of Directors or Chief Executive Officer from changing Employee&#8217;s title or duties as long as the resulting title and duties are reasonably commensurate with the education, employment background and qualifications of the
 Employee and involve similar responsibilities and scope of duties.</div>
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 <div style="font-family: Arial;">Section 3.02 - Outside Activities:&#160; Employee agrees that, while employed by the Bank, Employee will refrain from any outside activities which actually or potentially are in direct conflict with the essential
 enterprise-related or reputational interest of the Bank, that would cause disruption of the Bank&#8217;s operations, or that would be in direct competition with the Bank or assist competitors of the Bank.&#160; It shall not be a violation of this Agreement for
 Employee (A) to serve on corporate, civic or charitable boards or committees, or (B) to deliver lectures or fulfill speaking engagements, so long as such activities do not significantly interfere with the performance of Employee&#8217;s responsibilities as
 an employee of the Bank;