Mr. Thomas C. Clark This is Me

Education

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1. 1. The Albany Herald - Headlines Archives

   albanyherald.net/frontsarchive - [Cached]

   Published on: 10/24/2004   Last Visited: 10/25/2004

   Thomas S. "Tommy" Clark has joined Security Bank as assistant vice president/private banker and Synovus insurance specialist.
   
   Clark, an Americus native, has experience as a business banker, insurance adjuster and field representative.
   
   He earned a BBA in accounting from Georgia Southwestern State University and is a member of Albany Artesian Sertoma Club and Albany Area Chamber of Commerce. Clark is married to Kara Riccardi of Americus and lives in Albany.

2. 2. Security Federal Corporation Announces Resignation of Senior Officer

   biz.yahoo.com/bw/031208/85565_ - [Cached]

   Published on: 12/8/2003   Last Visited: 12/8/2003

   AIKEN, S.C.--(BUSINESS WIRE)--Dec. 8, 2003--Security Federal Corporation (OTCBB "SFDL.OB"), the parent company of Security Federal Bank, Aiken, South Carolina, today announced that Thomas C. Clark, President and a director of Security Federal Bank and a director of Security Federal Corporation has resigned his positions with Security Federal Bank and its affiliated entities effective immediately. A qualified replacement for Mr. Clark is being sought by the Boards of Directors of Security Federal Corporation and Security Federal Bank.

3. 3. www.sec.gov

   www.sec.gov/Archives/edgar/dat - [Cached]

   Published on: 6/24/2003   Last Visited: 6/26/2003

   * Thomas C. Clark (11)
   ...
   In addition to serving as a Director, Mr. Clark is the President and a Director of the Bank. (12) Includes 300 shares held jointly with his wife. (13) Includes 14,179 shares allocated to individual accounts of executive officers pursuant to the ESOP.
   ...
   The nominees for election this year are Timothy W. Simmons, T. Clifton Weeks and Thomas C. Clark, each of whom is a current member of the Board of Directors of SECURITY FEDERAL CORPORATION and of the Bank.
   ...
   Simmons, Weeks and Clark.
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   Thomas C. Clark Director of SECURITY FEDERAL CORPORATION and
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   4 Thomas C. Clark was elected President of the Bank effective January 1, 2002. Prior to this, he was Senior Vice President - Retail Banking since January 1, 1994. He held the position of Vice President - Consumer/Commercial Loans from July 1992 to January 1994.
   ...
   The Executive Committee, comprised of Director T. Clifton Weeks as Chairman and Directors Toole, Alexander, Simmons and Clark, meets on an as needed basis to handle matters arising between Board meetings.
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   The Executive Committee of the Board of Directors of the Bank is composed of Director Simmons as Chairman and Directors T. Clifton Weeks, Toole, Alexander and Clark.
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   The Loan Committee of the Board of Directors of the Bank is composed of T. Clifton Weeks as Chairman and Directors Toole, Alexander, Simmons and Clark.
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   Company and the Bank (Footnotes appear on following page.) 7 - ---------------- Includes board fees for Mr. Simmons of $10,740, $10,080 and $8,500 for fiscal 2003, 2002 and 2001, respectively, and for Mr. Clark of $10,740
   ...
   Mr. Clark was appointed to the Board of Directors on January 2, 2002.
   ...
   and employer contributions to the 401(k) Plan of $7,814 and to the ESOP of $3,781, and for Mr. Clark, deferred compensation pursuant to the Company's 401(k) Plan of $6,153 and employer contributions to the 401(k) Plan of $5,604 and to the ESOP of $2,528. Option Grant Table. There were no options granted to Mr. Simmons or Mr. Clark in fiscal 2003.
   ...
   Thomas C. Clark Incentive Stock Options 1,920
   
   - ----------------- Represents the difference between the price of the Common Stock at March 31, 2003 and the exercise price of the option. Options are in-the-money if the market value of the shares covered by the
   
   options is greater than the option exercise price. Salary Continuation Agreement. SECURITY FEDERAL CORPORATION and the Bank have entered into salary continuation agreements (each, an "Agreement") with Messrs. Simmons and Clark (individually, the "Executive").
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   The Agreement with Mr. Clark provides for payment of 120% of current compensation in monthly installments until the earlier of: (i) his reaching age 65, or (ii) 12 months after his resignation or termination, where he is terminated or resigns at any time following a "Change in Duties or Salary" in connection with a "Change in Control" of SECURITY FEDERAL CORPORATION. For purposes of the Agreements, the term "Change in Control" means a change in control of SECURITY FEDERAL CORPORATION where an entity, corporation or group of persons acting in concert (other than the members of the Board of Directors of SECURITY FEDERAL CORPORATION as of January 1, 1993) acquire a majority of the voting stock of SECURITY FEDERAL CORPORATION entitling them to elect a majority of the Board of Directors of SECURITY FEDERAL CORPORATION. A "Change in Duties or Salary" shall include any of the following: (a) a change in duties and responsibilities of the Executive from those in effect at the time of a Change in Control, which change results in the assignment of duties and responsibilities inferior to those duties and responsibilities of the Executive at the time the Change in Control occurs; (b) a reduction in rate of annual salary from such rate in effect at the time of a Change in Control; or (c) a change in the place of assignment of employee from Aiken, South Carolina, to any location that is located further than 25 miles from Aiken, South Carolina. Assuming a Change of Control occurred on March 31, 2003, the aggregate amount due and payable to Mr. Simmons and Mr. Clark would have been approximately $540,000 and $132,000, respectively.