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Quotes & Info
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| PCBK > SEC Filings for PCBK > Form 8-K on 21-Apr-2009 | All Recent SEC Filings |
21-Apr-2009
Change in Directors or Principal Officers
On April 20, 2009, Pacific Continental Corporation (the "Company") and its subsidiary Pacific Continental Bank (the "Bank"), extended the term under the Employment Agreements dated November 9, 2007 with Hal Brown, Chief Executive Officer, and Roger Busse, President and Chief Operating Officer, respectively, by one year to April 30, 2012. The term extensions occurred according to the annual renewal procedures set forth in the agreements, which provide that each year the executives may propose a one-year term extension to the Board of Directors of the Company and the Bank in order to re-set to the original three-year term. The Board then determines whether to accept the extension proposal. The term extensions do not increase potential severance benefits payable under the agreements. Other than Messrs. Brown and Busse, no executive has an employment agreement with the Company or the Bank.
A description of the other material terms and conditions of the Employment Agreements is contained in the "Post Employment and Termination Benefits" section of the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 13, 2009, and is incorporated herein by reference.
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