Exhibit 10 (viii)
AMENDMENT TO EMPLOYMENT AGREEMENT
---------------------------------
This Amendment to Employment Agreement ("Amendment") is made and entered
into as of December 31, 1995, by and among ST. XXXX BANCORP, INC. (the
"Company"), ST. XXXX FEDERAL BANK FOR SAVINGS (the "Bank") and XXXXXXX X. XXXXX
(the "Employee").
WHEREAS, the Company, the Bank and the Employee have entered into a
Restated Employment Agreement, dated as of December 19, 1994, as amended (the
"Agreement"), setting forth the terms and conditions for the employment
relationships of the Employee with the Company and the Bank; and
WHEREAS, the parties hereto desire to amend the Agreement in certain
respects;
NOW, THEREFORE, it is AGREED as follows:
1. The second sentence of Section 10(a) of the Agreement is hereby
amended to read in its entirety as follows:
"In addition to the sums previously deposited in the Employee Account,
the Bank, as of each December 31st while the Employee remains in the employ
of the Company or the Bank, beginning with December 31, 1995, shall credit
such Employee Account for the benefit of the Employee with an amount equal
in the aggregate to (a) 15 percent of the difference between (i) the
aggregate amount of the earnings of the Employee for the year ending on
such date, based on his Form W-2 withholding statement for such year, less
(ii) the amount of such earnings, if any, attributable to stock option
exercises, as reported on such Form W-2 statement, plus (b) 15 percent of
that amount contributed by the Company and the Bank to the Employee's
actuarial pension accrual, paid or payable to Employee as if it were earned
salary."
2. Except as amended hereby, the Agreement shall continue and shall
remain in full force and effect in all respects.
3. This Amendment may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original,
but all of such counterparts shall together constitute but one and the same
instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment or have
caused this Amendment to be executed on their behalf, as of the date first above
written.
ATTEST: ST. XXXX BANCORP, INC.
__________________________ By________________________________________
Xxxxxx X. Xxxxxx
Chairman of the Board
ATTEST: ST. XXXX FEDERAL BANK FOR SAVINGS
__________________________ By________________________________________
Xxxxxx X. Xxxxxx
Chairman of the Board
EMPLOYEE
__________________________________________
Xxxxxxx X. Xxxxx
AMENDMENT TO EMPLOYMENT AGREEMENT
---------------------------------
This Amendment to Employment Agreement ("Amendment") is made and entered
into as of December 31, 1995, by and among ST. XXXX BANCORP, INC. (the
"Company"), ST. XXXX FEDERAL BANK FOR SAVINGS (the "Bank") and XXXXXX X. XXXXXX
(the "Employee").
WHEREAS, the Company, the Bank and the Employee have entered into a
Restated Employment Agreement, dated as of December 19, 1994, as amended (the
"Agreement"), setting forth the terms and conditions for the employment
relationships of the Employee with the Company and the Bank; and
WHEREAS, the parties hereto desire to amend the Agreement in certain
respects;
NOW, THEREFORE, it is AGREED as follows:
1. The second sentence of Section 10(a) of the Agreement is hereby
amended to read in its entirety as follows:
"In addition to the sums previously deposited in the Employee Account,
the Bank, as of each December 31st while the Employee remains in the employ
of the Company or the Bank, beginning with December 31, 1995, shall credit
such Employee Account for the benefit of the Employee with an amount equal
in the aggregate to (a) 20 percent of the difference between (i) the
aggregate amount of the earnings of the Employee for the year ending on
such date, based on his Form W-2 withholding statement for such year, less
(ii) the amount of such earnings, if any, attributable to stock option
exercises, as reported on such Form W-2 statement, plus (b) 20 percent of
that amount contributed by the Company and the Bank to the Employee's
actuarial pension accrual, paid or payable to Employee as if it were earned
salary."
2. Except as amended hereby, the Agreement shall continue and shall
remain in full force and effect in all respects.
3. This Amendment may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original,
but all of such counterparts shall together constitute but one and the same
instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment or have
caused this Amendment to be executed on their behalf, as of the date first above
written.
ATTEST: ST. XXXX BANCORP, INC.
_________________________ By________________________________________
Xxxxxxx X. Xxxxx
President
ATTEST: ST. XXXX FEDERAL BANK FOR SAVINGS
_________________________ By________________________________________
Xxxxxxx X. Xxxxx
President
EMPLOYEE
__________________________________________
Xxxxxx X. Xxxxxx
