Russell Goldsmith Employment Agreement with City National Bank and Registrant (2002)

Summary

This agreement outlines the employment terms for Russell Goldsmith as Chief Executive Officer with City National Bank and the Registrant. The previous agreement expired on July 15, 2002, and a new four-year contract has been approved and is being finalized. As part of the new arrangement, Mr. Goldsmith will receive a grant of 250,000 non-qualified stock options under the Corporation's 2002 Omnibus Plan, which was approved by shareholders. The agreement is subject to final documentation and Board approval.

EX-10.22(21) 3 a2093305zex-10_2221.htm EXHIBIT 10.22.21
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Exhibit 10.22.21

RUSSELL GOLDSMITH
EMPLOYMENT AGREEMENT

The Employment Agreement dated July 15, 1998 (as amended on March 5, 2001) between Russell Goldsmith, Chief Executive Officer, and the Registrant and City National Bank expired in accordance with its terms on July 15, 2002. A new employment agreement for four years has been approved by the Board of Directors of the Corporation and Russell Goldsmith and documents are being finalized. In anticipation of finalizing the agreement, the Compensation Committee of the Board of Directors of the Corporation on July 24, 2002 approved Russell Goldsmith receiving a grant of 250,000 non-qualified stock options under the terms of the Corporation's 2002 Omnibus Plan. The 2002 Omnibus Plan was approved by the shareholders of the Corporation on April 24, 2002.

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