50 of the Top 250 law firms use our Products every day
EXHIBIT
10.1
SECOND AMENDMENT TO
EMPLOYMENT AGREEMENT
THIS SECOND
AMENDMENT TO EMPLOYMENT AGREEMENT (this
“Agreement”), entered into as of the 20 th
day of December, 2006, and effective as of December 14, 2006,
by and between SUMMIT FINANCIAL GROUP, INC., a West Virginia
corporation and bank holding company (“Summit”) and H.
CHARLES MADDY, III, (“Maddy”).
W I T N E
S S E T H:
WHEREAS, on March 4,
2005, Summit and Maddy entered into that certain Employment
Agreement whereby Summit agreed to employ Maddy and Maddy accepted
employment as the Chief Executive Officer of Summit (the
“Employment Agreement”); and
WHEREAS, the term of
the Employment Agreement commenced on March 4, 2005, and extends
until March 4, 2008; and
WHEREAS, the Board
of Directors of Summit or a committee designated by the Board of
Directors of Summit is required by the terms of the Employment
Agreement to review the Employment Agreement at least annually, and
the Board of Directors of Summit may, with the approval of Maddy,
extend the term of the Employment Agreement annually for one (1)
year periods (so that the actual term of the Employment Agreement
will always be between two and three years); and
WHEREAS, on December
6, 2005, the Compensation and Nominating Committee of the Board of
Directors of Summit met to review the Employment Agreement and
extended the term of the Employment Agreement for
|
