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invest 2008 · Guest

Lakeland Bank (the "Bank" and, with the Holding Company, the "Company") and Steven Schachtel executed a Separation and General Release Agreement (the "Separation Agreement"). Mr. Schachtel had served as the President of the Bank's Equipment Leasing Division. Pursuant to the Separation Agreement, Mr. Schachtel's Change in Control, Severance and Employment Agreement, dated as of August 2, 2006 (the "Employment Agreement"), terminated on September 12, 2008 (except for certain confidentiality and nonsolicitation provisions). Mr. Schachtel will remain an employee of the Company until the earlier of December 31, 2008 or the date of Mr. Schachtel's earlier resignation (the "Separation Date"). Robert Ingram will succeed Mr. Schachtel as head of the Bank's leasing division.

From September 13, 2008 through the Separation Date (the "Transition Period"), Mr. Schachtel is required to be available via telephone and/or e-mail to respond to inquiries from Company management and to perform such other duties as are reasonably requested by Company management to transition his services. During the Transition Period, Mr. Schachtel will continue to be paid his salary at his current base salary rate of $200,000 per year, be entitled to participate in the Bank's benefit plans (excluding commission, bonus, equity compensation and severance plans, if any) and be provided with continued use of the Company-owned automobile that was provided to him prior to the Transition Period.

lbaiinvest · Guest

glad to see hom go

thomas · Guest

this stock is on the way to start rising from the grave of death it was in shortly.