EX-10.1
from 10KSB
4 pages
1. Starting Date. the Starting Date of Employment Will Be on or Before March 03, 2003. 2. Compensation. Base Salary: Marco Community Bank, Marco Island, Florida, Will Pay You a Starting Salary of One Hundred Twenty-Thousand ($120,000) Dollars Per Annum. the Bank Agrees to a Future Salary Increase of Fifteen-Thousand ($15,000) Dollars After Two (2) Consecutive Quarters of Profit. 3. Signing Bonus. (A) You Will Be Paid a Total Signing Bonus of Fifteen –Thousand ($15,000) Dollars Payable as Follows: $5,000 Immediately Upon Commencing Employment $5,000 After Twelve (12) Months, (Feb. 26, 2004) $5,000 After Twenty-Four (24) Months, (Feb. 26, 2005) (B) Annual Bonus. Discretionary, Based Upon Accomplishments and Bottom-Line Profitability. 4. Fringe Benefits. (A) Medical Coverage: You Are Entitled to Participate in All Medical and Health Benefit Plans Through Health Insurance, Medical Reimbursement Plans or Other Plans Provided by Marco Community Bank for Our Employees on the Same Basis as Will Be Provided by the Bank to Its Other Employees. Until the Health Insurance Plan of the Bank Is Put in Place the Bank Agrees to Compensate You for One Half (50%) of the Cost of Carrying the Insurance Coverage Thru Your Previous Employer (Cobra). (B) Relocation Allowance: We Will Pay for the Transportation of Your Furniture From West Palm Beach to Collier County. We Will Pay Such Expenses Directly to You Upon Satisfactory Evidence of Such Expenditure. the Bank Will Reimburse You Up to a Total of Four-Thousand ($4,000) Dollars. 1
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