1ST SOURCE CORP FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits
(Edgar Glimpses Via Acquire Media NewsEdge) ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
1st Source Corporation (the "Company") entered into an amendment (effective
February 6, 2014) to Section 13 of the previously filed employment agreements
• Christopher J. Murphy III, Chairman of the Board and Chief Executive
Officer of the Company and of the Company's subsidiary, 1st Source Bank
• Andrea G. Short, Senior Vice President and Chief Financial Officer of the
Company and of the Bank;
• John B. Griffith, Secretary and General Counsel of the Company and
Executive Vice President, Secretary and General Counsel of the Bank; and
• Steven J. Wessell, Executive Vice President of the Bank.
The amendment removes the excise tax gross-up provision associated with the
two-trigger change-in-control severance benefit in the agreements. It replaces
that provision with a provision that allows for a possible reduction of such
severance payments to the extent reduction is advantageous for the executive
after taking into account any applicable excise tax.
Copies of the amendments to the employment agreements are attached as exhibits
hereto and incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits.
Exhibit 10(a)(1): Amendment to Employment Agreement dated January 1, 2008
between 1st Source Corporation and Christopher J. Murphy III
Exhibit 10(a)(2): Amendment to Employment Agreement dated January 1, 2013
between 1st Source Corporation and Andrea G. Short
Exhibit 10(a)(3): Amendment to Employment Agreement dated January 1, 2008
between 1st Source Corporation and John B. Griffith
Exhibit 10(a)(4): Amendment to Employment Agreement dated June 1, 2011 between
1st Source Corporation and Steven J. Wessell
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