Compensation Arrangements for Bradley J. Gregory with Georgia-Carolina Bancshares, Inc.

Contract Categories: Human Resources › Compensation Agreements
Summary

Georgia-Carolina Bancshares, Inc. outlines the compensation terms for Bradley J. Gregory, its Senior Vice President and Chief Financial Officer. Mr. Gregory receives a $130,000 annual salary, is eligible for an annual incentive bonus of up to $20,000, and may receive annual stock option grants as determined by the Board. He also receives standard employee benefits, including insurance and 401(k) participation after one year. Additionally, Mr. Gregory has a separate Severance Protection Agreement providing certain payments if there is a change in control of the company.

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EX-10.10 3 g12534exv10w10.htm EX-10.10 COMPENSATION ARRANGEMENTS WITH BRADLEY J. GREGORY EX-10.10 COMPENSATION ARRANGEMENTS, GREGORY  

Exhibit 10.10
Compensation Arrangements with Bradley J. Gregory
     Georgia-Carolina Bancshares, Inc. (the “Company”) does not have a written employment agreement with Bradley J. Gregory, Senior Vice President and Chief Financial Officer of the Company. Mr. Gregory receives an annual salary of $130,000 per year (2008) with an annual incentive plan enabling him to earn an additional $20,000. Mr. Gregory earned a bonus of $7,600 for 2007 under the plan. Mr. Gregory will be eligible for annual stock option grants as determined by the Board of Directors of the Company, and received an initial option grant to purchase 3,000 shares. In addition, Mr. Gregory is entitled to the following fringe benefits: medical, dental, life and disability insurance, and he may participate in the Company’s 401(k) plan after one year of service.
     Mr. Gregory has entered into a Severance Protection Agreement with the Bank, which entitles him to certain payments following a change in control of the Company. The Severance Protection Agreement was filed with the Company’s Current Report on Form 8-K dated August 24, 2006 as Exhibit 10.1