other material
confidence medium
sentiment neutral
materiality 0.20
ENB Financial amends employment agreement covenants for EVP/Chief Revenue Officer William Kitsch
ENB Financial Corp
- Amendment revised covenants in Kitsch's employment agreement; other terms unchanged.
- Agreement has initial 3-year term with auto-renewal; base salary $240,000.
- Termination without cause (no change of control): severance 2.00-2.99x salary plus 2 years benefits.
- Termination without cause within 2 years after change of control: severance 2.5x salary plus 2 years benefits.
- Non-compete: 25-mile radius, 2 years, can be waived for CEO opportunity.