Executive Salary Continuation Agreement and Consulting Agreement. Employee and the Bank have agreed to the SCA dated November 28, 1995, as amended December 20, 2000. It is the desire of Employer that Employee’s services be retained as a Consultant and the SCA be amended by a Second Amendment to the SCA dated July 25, 2001 (the “Second Amendment”). The SCA and Second Amendment are attached hereto as Exhibit “A” and incorporated herein by this reference. In addition to the SCA and Second Amendment, Employee is willing to continue to provide services to Employer as a consultant under a separate Consulting Agreement, as amended. The Consulting Agreement, dated December 20, 2000, as amended, which is attached hereto as Exhibit “B and incorporated herein by this reference provides, in part, that Consultant will receive the annualized sum of $64,700, payable on the first and 15th of each month, commencing August 15, 2001, plus certain benefits until December 31, 2003. The SCA, as amended, provides, in pertinent part, that Employer will pay to Employee, beginning immediately after December 31, 2003, the annualized sum of $64,700, payable semi-monthly, until December 31, 2113; subject to the conditions and limitations set forth therein. Employer agrees to undertake the obligations under the SCA, as amended, and the Consulting Agreement, as amended, in consideration of Employee agreeing to a full release of any and all claims that Employee has against Employer as provided in this Agreement.”
