AMENDMENT NO. 1 TO ESOP LOAN AGREEMENT
Exhibit 10.14
AMENDMENT NO. 1 TO ESOP LOAN AGREEMENT
This Amendment No. 1 to ESOP Loan Agreement (“Amendment”) is made and entered into by and between Xxxxxx Bros. Co., a California corporation, as Lender and Xxxxx Fargo Bank, N.A. as trustee for the Xxxxxx Bros. Co. Employee Stock Ownership Plan as the Borrower.
RECITALS
A. | Lender and Borrower have entered into an ESOP Loan Agreement dated March 28, 2000 (the “Loan Agreement”) which provides that advances can be made by Lender to Borrower through a period ending on December 31, 2002. |
B. | Lender and Borrower desire to amend the Loan Agreement to extend the date for advances through and including July 31, 2003. |
NOW, THEREFORE, it is agreed as follows:
1. | Section 1.2 of the Loan Agreement is amended by changing the date December 31, 2002, as it appears in both places in Section 1.2, to My 31, 2003. |
2. | In all other respects the Loan Agreement is ratified and approved. |
IN WITNESS WHEREOF, the parties have executed this Amendment on the date set forth below effective as of December 31, 2002.
Dated: JUNE 26, 2003 | Xxxxxx Bros. Co. | |||||||
By: | /s/ Xxx X. Xxxxxx | |||||||
Xxx X. Xxxxxx, President | ||||||||
By: | /s/ Xxxx X. Xxxxxxx | |||||||
Xxxx X. Xxxxxxx, Treasurer | ||||||||
Dated: JUNE 30, 2003 | Xxxxxx Bros. Co. Stock Ownership Plan | |||||||
Xxxxx Fargo, N.A., as trustee for the Fanner Bros. Co. Employee Stock Ownership Plan | ||||||||
By: | /s/ X. Xxxxxx | |||||||
Title: | VICE PRESIDENT |