f8k120309_firstunited.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): December 3,
2009
First United Corporation
(Exact
name of registrant as specified in its charter)
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Maryland
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0-14237
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52-1380770
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(State
or other jurisdiction of incorporation or organization)
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(Commission
file number)
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(IRS
Employer
Identification
No.)
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19 South Second Street, Oakland, Maryland
21550
(Address
of principal executive offices) (Zip Code)
(301) 334-9471
(Registrant’s
telephone number, including area code)
N/A
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
5.02.
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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(b) Officer
Retirement.
In a
letter dated December 3, 2009, Robert W. Kurtz notified the Board of Directors
of First United Corporation (the “Corporation”) and its bank subsidiary, First
United Bank & Trust (the “Bank”), that he intends to retire after 37 years
of employment. Mr. Kurtz currently serves as the President and Chief
Risk Officer of the Corporation and the Bank. His duties will be
assumed by Carissa L. Rodeheaver, the Corporation’s Executive Vice President and
Chief Financial Officer, and Jason Rush, the Corporation’s Senior Vice President
and Director of Operations and Support. Mr. Kurtz will continue to
serve on the boards of directors of the Corporation and the Bank.
On
December 7, 2009, the Corporation, the Bank and Mr. Kurtz entered into a
Consulting Agreement (the “Agreement”) with an effective date of January 1, 2010
pursuant to which Mr. Kurtz will make himself available on a limited basis
through April 30, 2010 for the purpose of providing various transition and
support services as and when requested by the Corporation and the
Bank. In return for his service, Mr. Kurtz will receive $22,500,
which will be paid in one lump sum on January 4, 2010. A copy of the
Agreement is filed herewith as Exhibit 10.1.
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ITEM
9.01.
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Financial
Statements and Exhibits.
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(d) Exhibits. The
exhibits filed or furnished herewith are listed in the Exhibit Index that
immediately follows the signatures hereto, which Exhibit Index is incorporated
herein by reference.
SIGNATURES
Pursuant to the requirements of Section
13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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FIRST
UNITED CORPORATION |
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Dated: December
7, 2009
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By:
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/s/
Carissa L. Rodeheaver, |
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Carissa
L. Rodeheaver, |
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Executive
Vice President
and
Chief
Financial Officer
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EXHIBIT
INDEX
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No. |
Description |
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10.1
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Consulting
Agreement, dated as of December 7, 2009, among First United Corporation,
First United Bank & Trust and Robert W. Kurtz (filed
herewith)
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