Exhibit 10.7
AMENDMENT TO CONSULTING AGREEMENT
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THIS AMENDMENT, entered into this 11/th/ day of August, 1994 by and between
Central Cooperative Bank, Somerville, Massachusetts (the "Bank") and Xxxxxx X.
Xxxxxxx (the "Consultant").
WHEREAS, the Bank and the Consultant have previously entered into a
Consulting Agreement as of March 31, 1992 (the "Agreement"); and
WHEREAS, the parties are desirous of amending Section 3 of the Agreement to
extend the term thereof.
NOW, THEREFORE, it is AGREED that Section 3 of the Agreement be and is
hereby amended to read in its entirety as follows:
3. Term. The term of the Consultant's engagement under this Agreement
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shall be for the period commencing on the Effective Date and ending March 31,
1997. Additionally, commencing on March 31, 1995 and on each subsequent annual
anniversary date of the Effective Date the term of the Consultant's engagement
hereunder shall automatically be extended for an additional one year period
beyond the then effective expiration date unless written notice from the Bank or
the Consultant is received prior to an anniversary date advising the other party
that this Agreement shall not be further extended. Any such written notice
shall not effect any prior extensions of the term of the Consultant's engagement
hereunder.
IN WITNESS WHEREOF, the parties have executed this Amendment on the day and
year first hereinabove written.
ATTEST: CENTRAL CO-OPERATIVE BANK
/s/ Xxxxxx X. Xxxxxxxxx By: /s/ Xxxxxx X. Xxxxxxxx, Xx.
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Xxxxxx X. Xxxxxxxxx Chairman of the Finance
Committee
WITNESS CONSULTANT
/s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
