Exhibit 10.5
OFFICER EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (“ Agreement ”) is entered into by and between ( “Officer” ) and First
State Bancorporation, a New Mexico corporation (the “ Company ”), effective as of , 2004 (the “ Commencement Date
”).
WHEREAS, the Company desires to provide for the service and employment of the Officer with the Company and the
Officer wishes to perform services for the Company, all in accordance with the terms and conditions provided herein; and
WHEREAS, the Officer is designated an Executive Officer of the Company and as such has special responsibilities and
duties to the Company and its subsidiaries.
NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, the Officer and the Company hereby
agree as follows:
Section 1. EMPLOYMENT . The Company does hereby employ the Officer and the Officer does hereby accept employment
as of the Company. The Officer shall have all the duties, responsibilities and authority normally
performed by the and shall render services consistent with such position on the terms set forth herein
and shall report to the Chairman and CEO (“CEO”) and the Board of Directors of the Company (the “ Board ”). In addition, the
Officer shall have such other Officer and managerial powers and duties with respect to the Company and its subsidiaries as may
reasonably be assigned to him by the CEO or the Board, to the extent consistent with his position and status as
set forth above. The Officer agrees to devote all of his working time and efforts to the business and
affairs of the Company and its subsidiaries, subject to periods of vacation and sick leave to which he is entitled, and shall not
engage in activities that substantially interfere with such performance; provided , however , that this Agreement shall not be
interpreted to prohibit the Officer from s