FIRSTMERIT CORP /OH/
EX 10.35 EMPLOYMENT AGREEMENT OF DAVID G. LUCHT
<DOCUMENT>
<TYPE>EX-10.35
<SEQUENCE>3
<FILENAME>l95383aexv10w35.htm
<DESCRIPTION>EX 10.35 EMPLOYMENT AGREEMENT OF DAVID G. LUCHT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX 10.35 Employment Agreement of David G. Lucht</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="right"><FONT size="2">Exhibit&nbsp;10.35</FONT>

<P align="center"><FONT size="2"><B>EMPLOYMENT AGREEMENT</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS AGREEMENT </B>is effective this 16th day of May, 2002 by and between
FirstMerit Corporation, its subsidiaries and affiliates (&#147;FirstMerit&#148;) and
David G. Lucht (&#147;Lucht&#148;).
</FONT>
<P align="center"><FONT size="2"><B>WITNESSETH:</B>
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">A.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">WHEREAS, FirstMerit and Lucht desire to enter into a
relationship whereby Lucht will become employed by FirstMerit under
the terms of this Agreement as Executive Vice President and Chief
Credit Officer; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">B.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">WHEREAS, as a condition of continued employment, FirstMerit
has required that Lucht agree to refrain from competing with
FirstMerit or disseminating or improperly using confidential
information of FirstMerit and Lucht is willing to make such a
commitment, in accordance with the provisions of this Agreement; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">C.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">WHEREAS, FirstMerit and Lucht desire to enter into this
Agreement to provide for the continuation of Lucht&#146;s services to
FirstMerit for a term certain.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN CONSIDERATION </B>of the foregoing, the mutual covenants contained herein
and other good and valuable consideration, receipt of which is hereby
acknowledged, the parties agree as follows:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">1.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Employment Duties</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the term of this Agreement, Lucht shall serve as Executive Vice
President and Chief Credit Officer. The Chairman and Chief Executive Officer
shall, from time to time and subject to modification at any time and at his
sole discretion, hereafter assign such responsibilities and duties as they may
deem appropriate. Lucht shall faithfully, diligently, competently, and to the
best of his ability, carry out those responsibilities and duties as assigned
from time to time by the Chairman of the Board and Chief Executive Officer of
FirstMerit.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">2.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Term of Agreement</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The term of this Agreement shall commence May&nbsp;16, 2002, and shall continue
until December&nbsp;31, 2005, unless such term is earlier terminated as hereinafter
provided. Lucht and FirstMerit agree that on January&nbsp;1, 2006 Lucht shall
become an at will employee of FirstMerit. In the event of a Change in Control
during the term of this Agreement, employee shall receive the compensation and
benefits set forth in paragraph 3 and 4 below for the remainder of the term of
this Agreement. The term change in control shall be defined under the Change
in Control Agreement and Displacement Agreement between Lucht and FirstMerit of
even date. Any compensation and benefits to which Lucht is entitled under this
Agreement are in addition to any compensation and benefits to which he may be
entitled under the Change in Control Agreement and Displacement Agreement
between Lucht and FirstMerit.
</FONT>
<P align="center"><FONT size="2">- 1 -</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">3.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Compensation</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the term of this Agreement, FirstMerit shall pay Lucht for his
services the sum of Nine Thousand Three Hundred Seventy-five Dollars
($9,375.00) paid semimonthly, subject to any salary increases that may occur
from time to time and at the sole discretion of FirstMerit. The semimonthly
amount to be paid hereunder shall be paid in accordance with FirstMerit&#146;s
policies and shall be paid net of amounts withheld for federal, state or local
income taxes, FICA, and such other applicable amounts as may be required to be
paid during the term of this Agreement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lucht shall also be eligible to participate in the bonus or other
incentive compensation plan or programs, and stock option grants, plans or
programs, offered or instituted by FirstMerit during the term of this
Agreement.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">4.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Employee Benefits</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the term of this Agreement, Lucht shall be eligible to participate
in the following employee benefits from FirstMerit as applicable:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Lucht shall be eligible to participate in such retirement,
medical, and other employee benefit plans as may be maintained by
FirstMerit during the term of this Agreement.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Lucht shall be eligible to participant in the Executive Life
Insurance Program that FirstMerit may maintain during the term of this
Agreement. Lucht shall be personally obligated to pay any and all taxes
associated with this life insurance benefit.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Lucht shall be granted stock options of FirstMerit common stock
in accordance with the Restricted Stock Award Agreement dated May&nbsp;16,
2002. Any unexercised and outstanding stock options will vest and will be
exercisable in accordance with the terms of the Agreement.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Lucht shall be eligible to participate in the Executive
Supplemental Retirement Plan (&#147;SERP&#148;). Such SERP benefits are defined in
the plan documents as may be amended from time to time at the discretion
of the FirstMerit Board of Directors.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Lucht shall be eligible to participate in the FirstMerit
Executive Incentive Plan at performance levels established from time to
time by the FirstMerit Board of Directors.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">5.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Termination</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;FirstMerit may terminate the employment of Lucht under the
Agreement without notice for Just Cause. Notwithstanding anything to the
contrary contained herein, it shall be considered Just Cause to terminate
the Lucht&#146;s employment upon the happening of any of the following:</FONT></TD>
</TR>

</TABLE>
<P align="center"><FONT size="2">- 2 -</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>





<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">1.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
The retirement or death of Lucht;</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">2.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Felonious criminal activity whether
or not affecting the Employer;</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">3.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Disclosure to unauthorized persons of
Employer information which is considered by FirstMerit
to be confidential;</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Breach of any contract with, or
violation of any legal obligation to, the FirstMerit or
dishonesty; or</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Gross negligence or insubordination
in the performance of duties of the position held by the
Employee.</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of termination by the FirstMerit for Just Cause, Lucht
shall not be entitled to receive salary or other benefits beyond the
date of termination.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Upon termination of this Agreement pursuant to this paragraphs 2
or 6, the obligations of each of the parties hereunder shall expire as of
the date of such termination, including, without limitation, the
obligations of FirstMerit to pay any compensation to Lucht.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">6.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Trade Secrets and Confidential Information.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lucht acknowledges that, as Chief Credit Officer of FirstMerit
Corporation, he has had extensive access to and has acquired various
confidential information relating to the Business, including, but not limited
to, financial and business records, customer lists and records, business plans,
corporate strategies, information disclosed or discussed during any exit
conference, employee information, wage information, and related information and
other confidential information (collectively, the &#147;Confidential Information&#148;).
Lucht agrees that the Confidential Information is and will be of special and
unique value to FirstMerit. Lucht further acknowledges and covenants that, at
all times, the Confidential Information is the sole property of FirstMerit and
will constitute trade secrets and confidential information of FirstMerit, and
that his knowledge of the Confidential Information will enable him to compete
with FirstMerit in a manner likely to cause FirstMerit irreparable harm upon
the use or disclosure of such matters. Therefore, Lucht hereby irrevocably
covenants that he shall not, at any time after the date of this Agreement, use
or disclose to any third party, directly or indirectly, any of the Confidential
Information, except as permitted by this Agreement. Excluded from the
definition of Confidential Information is (a)&nbsp;information which is publicly
available, other than as a result of actions by Lucht in breach of this
Agreement; and (b)&nbsp;information which is disclosed by FirstMerit to third
parties on a non-confidential basis.
</FONT>
<P align="center"><FONT size="2">- 3 -</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">7.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Assignment</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be binding upon the parties hereto, their respective
heirs, personal representatives, executors, administrators and successors;
provided, however, that no assignment or transfer of this Agreement by Lucht,
including assignment or transfer by operation of law, shall be valid without
the prior written consent of FirstMerit. FirstMerit may freely assign this
Agreement without Lucht&#146;s consent.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">8.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Governing Law</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be construed under and governed by the internal laws
of the State of Ohio and properly venued in Summit County, Ohio. In the event
that any provision of this Agreement shall be held to be void or unenforceable
by a court of competent jurisdiction, this Agreement shall not be rendered null
and void thereby but shall be construed and enforced as if such void or
unenforceable provision was not originally a part of this Agreement.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">9.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Entire Agreement</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement sets forth the entire agreement of the parties herein with
regard to the employment of Lucht and any oral or written statements,
representations, agreements or understandings made or entered into prior to or
contemporaneously with the execution of this Agreement, are hereby rescinded,
revoked and rendered null and void by the parties.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed this 16th day of May, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
        <TD width="22%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="73%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Witnesses:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
FIRSTMERIT CORPORATION</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By:          /s/ John R. Cochran<BR>
</FONT><HR size="1" noshade><FONT size="2">
Its: Chairman and Chief Executive Officer</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ David G. Lucht<BR>
David G. Lucht</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">- 4 -</FONT>




</BODY>
</HTML>

</TEXT>
</DOCUMENT>
