EXHIBIT 10.10
AGREEMENT MADE AS OF AUGUST 23, 2002 BETWEEN FIRST NATIONAL
BANK OF XXXXXXX AND XXXXXXX X. XXXXXXX
In consideration of the reliance placed by Xxxxxxx X. Xxxxxxx as a
Director of First National Bank of Xxxxxxx on the Board Resolution of June 18,
1990, as incorporated in Section 2.1 of the Bank's Bylaws prior to rescission of
the Resolution and the adoption of the Restated Bylaws in June 2002, First
National Bank of Xxxxxxx (the "Bank"), and its successors and assigns, agrees
to provide, at Bank expense, to Xxxxxxx X. Xxxxxxx and his current spouse, if
any, during their lifetimes, the health insurance coverage that is provided from
time to time to individual employees of the Bank and their spouses (not
including coverage of any other dependents); provided, that if Xxxxxxx X.
Xxxxxxx'x current spouse ceases to be his spouse, for any reason, (other than
the death of Xxxxxxx X. Xxxxxxx), such former spouse will not be entitled to
coverage, and the coverage will not extend to a subsequent spouse of Xxxxxxx X.
Xxxxxxx; provided, that if a surviving spouse, who otherwise would be entitled
to coverage, remarries and becomes entitled to health care coverage as the
result of the remarriage, such spouse will no longer be entitled to coverage
from the Bank. This agreement cannot be altered or modified, in any form,
without the expressed written consent of the Bank and Xxxxxxx X. Xxxxxxx or, if
he is deceased, the express written consent of the surviving spouse, if any, who
would be entitled to coverage from the Bank.
FIRST NATIONAL BANK OF XXXXXXX
/s/ Xxxx X. Xxxxx /s/ Xxxxxxx X. Xxxxxxx
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Xxxx X. Xxxxx, President & CEO Xxxxxxx X. Xxxxxxx, Director
