Compensation Arrangement for William W. Duncan, Jr. with Talbot Bank of Easton, Maryland
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Summary
Talbot Bank of Easton, Maryland has outlined the compensation terms for its President and CEO, William W. Duncan, Jr. Although there is no formal written employment contract, Mr. Duncan will receive an annual salary of $245,000, which may be adjusted each year. He is also eligible to participate in Shore Bancshares, Inc.'s bonus program, profit sharing and 401(k) plan, and group term life insurance, as allowed by the rules of those programs.
EX-10.2 3 v048646_ex10-2.htm
Exhibit 10.2
COMPENSATION ARRANGEMENT FOR WILLIAM W. DUNCAN, JR.
Talbot Bank of Easton, Maryland (the “Bank”) and William W. Duncan, Jr., the Bank’s President and Chief Executive Officer, are not party to a written employment agreement. Mr. Duncan’s employment arrangement provides for an annual salary of $245,000, subject to annual adjustment. Mr. Duncan is also entitled to participate in the bonus program, profit sharing and 401(k) plan, and group term life insurance program of Shore Bancshares, Inc., to the extent the provisions and rules of those plans and programs permit such participation.
