EXHIBIT 10.27
FIRST AMENDMENT
TO THE
SERVICE 1ST BANK
SALARY CONTINUATION AGREEMENT
DATED SEPTEMBER 10, 2003
FOR
XXXXXX X. XXXXX
THIS AMENDMENT is adopted this 8th day of August, 2005, by and between
SERVICE 1ST BANK, a state-chartered commercial bank located in Stockton,
California (the "Company") and XXXXXX X. XXXXX (the "Executive").
The Company and the Executive executed the Salary Continuation
Agreement on September 10, 2003 (the "Agreement").
The undersigned hereby amends, in part, said Agreement for the purpose
of changing the Plan Year and increasing the Normal Retirement Benefit.
Therefore, the following change shall be made:
Article 1.18 of the Agreement shall be deleted in its entirety and
replaced by Article 1.18 below.
1.20 Plan Year" means each twelve-month period commencing on January 1 and
ending on December 31 of each year.
Article 2.1.1 of the Agreement shall be deleted in its entirety and
replaced by Article 2.1.1 below.
2.1.1 Amount of Benefit. The annual Normal Retirement Benefit under
this Section 2.1 is Seventy-One Thousand Dollar ($71,000).
The Schedule A attached to the Agreement shall also be amended in its
entirety and replaced with the new Schedule A attached to this Amendment.
IN WITNESS OF THE ABOVE, the Executive and the Company hereby consent
to this First Amendment.
Executive: SERVICE 1ST BANK
/s/ XXXXXX X. XXXXX By /s/ XXXX X. XXXXXX
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Xxxxxx X. Xxxxx Xxxx X. Xxxxxx
Title Chairman
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