SMTB » Topics » The Loss Of Key Personnel Could Impair The Bank ’s Future Success

These excerpts taken from the SMTB 10-K filed Mar 12, 2009.

The Loss Of Key Personnel Could Impair The Bank’s Future Success

The Bank’s future success depends in part on the continued service of its executive officers, other key members of management and its staff, as well as its ability to continue to attract, motivate and retain additional highly qualified employees. The loss of services of key personnel could have an adverse effect on the Bank’s business because of their skills, knowledge of the Company’s market, years of industry experience and the difficulty of promptly finding qualified replacement personnel. The Company does not currently have employment agreements or non-competition agreements  with any of its executive officers, however the Company does have change in control agreements in place for selected officers.

The Loss Of Key Personnel Could Impair The Bank’s Future Success



The Bank’s future success depends in part on the continued service of its executive officers, other key members of management and its staff, as well as its ability to continue to attract, motivate and retain additional highly qualified employees. The loss of services of key personnel could have an adverse effect on the Bank’s business because of their skills, knowledge of the Company’s market, years of industry experience and the
difficulty of promptly finding qualified replacement personnel. The Company does not currently have employment agreements or non-competition agreements  with any of its executive officers, however the Company does have change in control agreements in place for selected officers.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 12, 2009
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