EXHIBIT 10.4
NON-COMPETITION
AGREEMENT
October 30, 2006
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To:
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Ronald Hansen
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From:
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ChoiceOne Financial Services, Inc.
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This confirms our agreement
regarding your Non-Competition Agreement. This Agreement is offered
by ChoiceOne Financial Services, Inc. ("ChoiceOne") following the
merger of Valley Ridge Financial Corp. ("Valley Ridge") with
ChoiceOne.
1.
At the closing of that transaction, you will receive a
payment equal to Twenty-Five Thousand Dollars ($25,000) (less
required taxes and withholdings). In addition, so long as you have
not breached this Agreement, ChoiceOne will permit you and your
spouse to participate in its health insurance plan, subject to the
same terms and conditions (i.e. co-pay and deductible) as
ChoiceOne's employees, until you reach the age of 65. ChoiceOne
will continue to employ you until you attain age 62.
2.
You acknowledge and agree that you have occupied a position
of trust with Valley Ridge, its affiliated bank and other direct
and indirect affiliates and have had access to the confidential
information of these entities, including but not limited to
marketing and sales plans, financial information, and customer
information including contact names and needs (the "Valley Ridge
Confidential Information"). You acknowledge and agree that
ChoiceOne has acquired the Valley Ridge Confidential Information
and that it is valuable to ChoiceOne. You further agree that, in
your employment with ChoiceOne, ChoiceOne Bank and/or any of their
affiliates, you will have access to the confidential information of
ChoiceOne, ChoiceOne Bank, and their affiliates including but not
limited to marketing and sales plans, financial information, and
customer information including contact names and needs. The
collective confidential information of Valley Ridge, ChoiceOne,
ChoiceOne Bank and their affiliates is referred to as the
"Confidential Information." You agree not to use or disclose the
Confidential Information except in the proper course of your
employment with ChoiceOne, ChoiceOne Bank or their affiliates or as
required by law. Confidential Information shall not include
information in the public domain or information acquired by you
from a third party having no obligation of confidentiality to
Valley Ridge, ChoiceOne, ChoiceOne Bank or their affiliates and who
did not obtain the information as a result of a breach of such a
confidentiality agreement.
3.
Upon your termination of employment, you agree to
immediately return all property of Valley Ridge, ChoiceOne,
ChoiceOne Bank and/or their affiliates in your pos
