Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
WHEREAS, Redwood Falls Federal Savings and Loan Association (the
"Association") and Xxxx X. Xxxxx (the "Employee") previously entered into an
Employment Agreement (the "Agreement") dated February 15, 1995, and
WHEREAS, Section 14 of the Agreement provides that amendments to this
Agreement may be made in writing and signed by both parties,
NOW THEREFORE, BE IT RESOLVED that this Agreement be amended by
adoption and execution of this Amendment to the Agreement as follows.
1. Revision to Section 5 of the Agreement by inclusion of the following
phrase at the end of Section 5 as follows:
"Notwithstanding anything herein to the contrary, the expiration date
of the term of this Agreement shall be as of February 15, 2000, except
as may be extend beyond that date by future action of the Board within
its sole discretion in accordance with this Agreement."
2. Revision to Section 2 of the Agreement by inclusion of the following
phrase at the end of Section 2 as follows:
"Notwithstanding anything herein to the contrary, effective February
15, 1997, the annual salary of the Employee shall be increased to
$113,820.00, or as may be increased thereafter by the Board from time
to time."
As Secretary to the Association, I hereby certify that the foregoing
Amendment was adopted and ratified by a majority vote of a meeting of the Board
of Directors of the Association, held on February 13, 1997, a quorum being
present.
/s/Xxxxxxx X. Xxxxx
-----------------------------
Xxxxxxx X. Xxxxx, Secretary
SEAL
IN WITNESS WHEREOF, the parties to the Agreement dated February 13,
1997, do hereby execute this Amendment to the Agreement on this 13th day of
February, 0000
Xxxxxxx Xxxxx Xxxxxxx Savings
and Loan Association
By: /s/Xxxxx X. Xxxxxxxx
------------------------------
Xxxxx X. Xxxxxxxx
/s/Xxxx X. Xxxxx
------------------------------
Xxxx X. Xxxxx, Employee
ATTEST:
/s/Xxxxxxx X. Xxxxx
---------------------------
Xxxxxxx X. Xxxxx, Secretary
SEAL
AMENDMENT TO EMPLOYMENT AGREEMENT
WHEREAS, Redwood Falls Federal Savings and Loan Association (the
"Association") and Xxxxxx X. Xxxx (the "Employee") previously entered into an
Employment Agreement (the "Agreement") dated February 15, 1995, and
WHEREAS, Section 14 of the Agreement provides that amendments to this
Agreement may be made in writing and signed by both parties,
NOW THEREFORE, BE IT RESOLVED that this Agreement be amended by
adoption and execution of this Amendment to the Agreement as follows.
1. Revision to Section 5 of the Agreement by inclusion of the following
phrase at the end of Section 5 as follows:
"Notwithstanding anything herein to the contrary, the expiration date
of the term of this Agreement shall be as of February 15, 2000, except
as may be extend beyond that date by future action of the Board within
its sole discretion in accordance with this Agreement."
2. Revision to Section 2 of the Agreement by inclusion of the following
phrase at the end of Section 2 as follows:
"Notwithstanding anything herein to the contrary, effective February
15, 1997, the annual salary of the Employee shall be increased to
$57,576.00, or as may be increased thereafter by the Board from time to
time."
As Secretary to the Association, I hereby certify that the foregoing
Amendment was adopted and ratified by a majority vote of a meeting of the Board
of Directors of the Association, held on February 13, 1997, a quorum being
present.
/s/Xxxxxxx X. Xxxxx
-----------------------------
Xxxxxxx X. Xxxxx, Secretary
SEAL
IN WITNESS WHEREOF, the parties to the Agreement dated February 13,
1997, do hereby execute this Amendment to the Agreement on this 13th day of
February, 0000
Xxxxxxx Xxxxx Xxxxxxx Savings
and Loan Association
By: /s/Xxxxx X. Xxxxxxxx
------------------------------
Xxxxx X. Xxxxxxxx
/s/Xxxxxx X. Xxxx
------------------------------
Xxxxxx X. Xxxx, Employee
ATTEST:
/s/Xxxxxxx X. Xxxxx
---------------------------
Xxxxxxx X. Xxxxx, Secretary
SEAL
