AMENDMENT NO. 2 TO FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF HAZLETON DEFERRED INCOME AGREEMENT
EXHIBIT 10.9
AMENDMENT
NO. 2 TO
FIRST
FEDERAL SAVINGS AND LOAN ASSOCIATION OF HAZLETON
THIS
AMENDMENT NO. 2 (this “Amendment”)
to the First Federal Savings and Loan Association of Hazleton Deferred Income
Agreement (the “Agreement”) is made and entered into effective as of November
15, 2007 by and among Keystone Nazareth Bank & Trust Company (the “Bank”)
and Xxxxxx X. Xxxxxxx (the “Executive”).
RECITALS:
WHEREAS,
Keystone Nazareth Bank &
Trust Company, as successor to First Federal Savings and Loan Association of
Hazleton, desires to amend the Agreement to ensure that the Agreement complies
with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”);
and
WHEREAS,
pursuant to Section 12 of the
Agreement, the parties may amend the Agreement from time to time;
NOW,
THEREFORE, in consideration of the
premises, the mutual agreements herein set forth and such other consideration
the sufficiency of which is hereby acknowledged, the parties hereby
amend the Agreement as follows:
Section
1. Deletion of
Section 17 of the Agreement. Section 17 of the Agreement is
hereby deleted in its entirety.
Section
2. No Further
Modification. Except as expressly amended hereby, the Agreement
remains unmodified and in full force and effect.
Section
3. Governing
Law. This Amendment shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania without regard
to
its conflicts of laws principles.
Section
4. Counterparts. This Amendment may be executed in
one or more counterparts, each of which shall for all purposes be deemed an
original, and all of which together shall constitute but one and the same
instrument.
1
IN
WITNESS WHEREOF, the parties have
caused this Amendment to be executed effective as of the date and year first
written above.
|
KEYSTONE
NAZARETH BANK
|
||||
|
&
TRUST COMPANY
|
||||
|
BY:
|
||||
|
Name:
|
Xxxxxxx
X. Xxxxxxx
|
|||
|
Title:
|
Chairman
of the Board
|
|||
|
EXECUTIVE
|
||||
|
Xxxxxx
X. Xxxxxxx
|
||||
2
