EMPLOYMENT AGREEMENTEmployment Agreement • December 21st, 2016 • Merchants Bancshares Inc • State commercial banks • Vermont
This Employment Agreement (“Agreement”) is made and effective this 16 day of December, 2016 (the “Effective Date”) among Merchants Bank, a Vermont chartered bank (the “Bank”), Merchants Bancshares, Inc., a Delaware corporation (the “Corporation” and, together with the Bank, “Merchants”) and Richard Donovan (the “Executive Officer”). The Corporation and the Bank may share or allocate between themselves any rights or responsibilities of the Corporation or the Bank under this Agreement.
