EXHIBIT 10.4
AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN CFBANK AND XXXXX X. XXXXXX
AMENDMENT TO EMPLOYMENT AGREEMENT
CF BANK
This AMENDMENT TO EMPLOYMENT AGREEMENT (this "AMENDMENT") is entered into and
made effective as of May 10, 2004 between CFBank, a federally chartered savings
association fka Central Federal Bank fka Central Federal Savings and Loan
Association of Wellsville (the "ASSOCIATION"), and Xxxxx X. Xxxxxx, an Ohio
resident (the "EXECUTIVE").
A. The Association and the Executive entered into an Employment Agreement as
of February 28, 2003 (the "Agreement") for a term of 36 months.
B. The Association values the services and contributions that the Executive
has made to it and seeks to extend the period of service under the
Agreement by an additional 24 months.
C. The Executive is willing to extend the period of his service to the
Association.
NOW, THEREFORE, in consideration of the mutual covenants and promises set forth
in this Amendment, the Association and the Executive agree as follows:
1. Section 2(a) is hereby amended by deleting "thirty six (36) and
substituting "sixty (60)" therefore.
2. Section 3(b) is hereby amended by adding ", whether or not made available
to any other senior executive or key management employee of the
Association" to the end of the second sentence of the Subsection.
3. All provisions of the Agreement, other than as modified in this Amendment,
are hereby ratified and shall remain in full force and effect.
IN WITNESS WHEREOF, the Association and the Executive have executed this
Amendment as of the day and year first written above.
THE ASSOCIATION: THE EXECUTIVE:
CENTRAL FEDERAL CORPORATION
/s/ Xxxxx X. Xxxxxx
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By: /s/ Xxxxxx X. Xxx Xxxxx X. Xxxxxx
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Name in
Print: Xxxxxx X. Xxx
For the Board of Directors
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