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| HTBK > SEC Filings for HTBK > Form 8-K on 5-May-2009 | All Recent SEC Filings |
5-May-2009
Change in Directors or Principal Officers, Regulation FD Disclosure, Finan
On December 11, 2008, Heritage Bank of Commerce (subsidiary of Heritage Commerce Corp) (the "Bank") and James Mayer signed a modification to Mr. Mayer's employment agreement. The modification provided that his employment agreement (originally entered into on February 8, 2007) would remain in effect until May 1, 2009 at which time Mr. Mayer would retire from the Bank and receive the severance benefits under the employment agreement. On April 30, 2009, Mr. Mayer retired from the Bank and Mr. Mayer and the Bank entered into a further modification to his employment agreement. The modification provides that Mr. Mayer will receive the severance amount set forth in his original employment agreement of $300,000 payable in 18 equal monthly payments of $16,666 per month at such time as the Bank is permitted to make such payments under the American Recovery and Reinvestment Act of 2009 and the U.S. Treasury regulations promulgated thereunder.
A copy of the modification is attached to this report as Exhibit 10.1 and incorporated herein by reference.
Heritage Commerce Corp (the "Company") is scheduled to present at the D.A. Davidson 11th Annual Financial Services Conference at the Bell Harbor Conference Center in Seattle. Lawrence D. McGovern, Chief Financial Officer, and Michael R. Ong, Chief Credit Officer, are scheduled to present on Thursday, May 7th at 10:45 a.m. in the Marina Room. The presentation will be archived for 90 days after the conference, and can be viewed at http://www.wsw.com/webcast/dadco15/htbk/. D.A. Davidson & Co. is a full-service investment firm with offices in 16 states. A copy of the information in the slide show is included as Exhibit 99.1. The information under this Item 7.01 and the information included as exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended ("Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such a filing. The furnishing of the information under this Item 7.01 and exhibit 99.1 in this report is not intended to, and does not, constitute a determination or admission by the Company that the information under this Item 7.01 and exhibit 99.1 report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates. The information in the materials is presented as of December 31, 2008, and the Company does not assume any obligations to update such information in the future.
(D) Exhibits
10.1 Modification to Employment Agreement of James Mayer dated April 30, 2009.
99.1 Slide presentation to investors to be presented on May 7, 2009 by the registrant's Chief Financial Officer and Chief Credit Officer.
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