Cto Employment Agreement

EXHIBIT 10.3


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EMPLOYMENT AGREEMENT


THIS AGREEMENT, entered into this 19TH day of August, 1997, by and between EVANS NATIONAL BANK, a national banking corporation with offices at 14-16 North Main Street, Angola, New York, hereinafter referred to as the "Bank," and WILLIAM R. GLASS, residing at 31 Braunview Way, Orchard Park, New York 14127, referred to as the "Employee," for the employment of Employee by the Bank.


WHEREAS, the parties now wish to update and modify said agreement, the parties hereby agree to the following terms and conditions:


1.TERM OF EMPLOYMENT: Unless terminated pursuant to the terms of this Agreement, the Bank and Employee agree that the initial term of employment shall be for a period commencing on January 1, 1997, and terminating December 31, 2002. Such term of employment shall be extended for one (1) additional year on or before December 31, 1998, and annually thereafter so that the term of this Agreement and any extensions thereto shall be for five (5) years unless shortened by mutual agreement. In the event the Bank does not extend by June 30th of each year, this agreement will automatically renew for one (1) additional year.


2.COMPENSATION: Employee shall receive, in exchange for his services, hereunder, the base compensation as fixed annually by the Bank Board of Directors at its January meeting.


3.DUTIES:


A) During the term of his employment hereunder, Employee agrees to serve as Senior Vice President of the Bank and be primarily responsible for the management, supervision, and direction of all loan activities, and loan department personnel.


B) Employee shall devote his full time, energies and attention, during normal business hours (excluding vacation) to the business and affairs of the Bank.


C) Employee agrees to cooperate with the Bank including taking such reasonable medical examinations, as may be necessary, in the event the Bank shall desire or be required to obtain life insurance insuring Employee's life.


D) Employee shall, except as otherwise provided herein, be subject to the Bank's rules, practices and policies applicable to the Bank's Executive Employees.


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4.BENEFITS:


A) Employee shall participate in all life, disability and medical insurance plans, pensions and other similar plans which the Bank may have or may establish from time to time, in which Employee is eligible to participate pursuant to the terms thereof. The foregoing, however, shall not be construed to require the Bank to establish any such plans or to prevent the Bank from modifying or terminating such plans and no such action or failure thereof shall effect this Agreement.


B) Employee shall be entitled to vacation as determined by the Board of Directors for all Bank officers.


C) Employee shall attend such continuing education seminars and obtain membership in such organizations as required by the Board; provided, however, that the Bank shall bear the expenses of such activities.


5.WORKING AND OTHER FACILITIES. During the term of this Agreement, Employee shall be furnished with such working facilities, secretarial help and other services, as are suitable to his position and adequate for the performance of his duties.


6.EXPENSES: The Bank will reimburse Employee for reasonable expenses, including automobile and travelling expenses, incurred by him in connection with his employment in the business of the Bank upon the presentation by Employee of appropriate substantiation for such expenses.


7.CONFIDENTIALITY AND NON-INTERFERENCE: In the course of his employment by the Bank, Employee shall have and has had access to confidential or proprietary data or information of the Bank. Employee shall not at any ti ...