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Exhibit 10.1
September 16, 2009
Mr. Jefferson G.
Parker
Dear Jeff:
On behalf of IBERIABANK Corporation,
I am pleased to offer you employment as Vice Chairman and Manager
of Brokerage, Trust and Wealth Management reporting to the
President and Chief Executive Officer.
Your compensation would initially
include an annual base salary of $400,000. In addition, we are
pleased to offer you the following:
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20,000 restricted shares awarded
on your date of employment. These awards are governed by the
IBERIABANK Corporation Stock Option and Incentive Compensation Plan
and will vest over seven years at a rate of 1/7
th per year on each of the first through
seventh anniversaries of the date of the award. In addition and
contingent upon your continued employment with IBERIABANK
Corporation through the date of the award, you will also receive a
minimum award of 7,500 shares of restricted stock to be awarded by
March 15, 2010 and will vest over seven years as defined
above.
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10,000 stock options based on
your date of employment. These awards are governed by the
IBERIABANK Corporation Stock Option and Incentive Compensation Plan
and will vest over seven years at a rate of 1/7
th per year on each of the first through
seventh anniversaries of the date of the award.
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Contingent upon your continued
employment with IBERIABANK Corporation through the date of the
award, you will receive a Phantom Stock Award with a target value
of $425,000 to be awarded on January 1, 2010. The number of
shares will be determined based on the target value and the closing
market price on December 31, 2009. These awards are to be
governed by the IBERIABANK Corporation Deferred Compensation Plan
and the Phantom Stock Award agreement and will vest equally over a
six-year period commencing with the second anniversary of the date
of the award. In addition and contingent upon your continued
employment with IBERIABANK Corporation through the date of the
award, you will also receive a Phantom Stock Award with a target
value of $100,000 to be awarded by March 15, 2010 which will
vest equally over a six-year period co
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