Exhibit 10.3
------------
Amendment to Employment Agreement Dated April 1, 1999
By and Between Premier National Bank and Xxxx X. Xxxxxx
-------------------------------------------------------
The parties to the above Employment Agreement hereby agree to the following
amendment:
Xxxxxxxxx 0, Xxxxxx (x) "Benefits in the Event of a Termination Without Cause or
-------------------------------------------------------
a Termination for Good Reason" shall be amended such that the second paragraph
-----------------------------
thereof shall now read:
If a Termination Without Cause or a Termination for Good Reason occurs
during the CIC Coverage Period, the Executive shall be entitled to an
undiscounted lump sum payment equal to the product of (A) the Executive's Annual
Base Salary as in effect on the effective date of such termination (without
giving effect to any reduction in Annual Base Salary described in Section
6(c)(i) hereof) and (B) two and one-half (2 1/2) years.
IN WITNESS WHEREOF, the parties have executed and entered into this Amendment
this lst day of April , 2000.
--- ----
PREMIER NATIONAL BANK
By: /s/ X. X. Xxxxxxxxxx
------------------------
Name: X. X. Xxxxxxxxxx
Title: Chairman & CEO
/s/Xxxx X. Xxxxxx
-------------------------
Executive: Xxxx X. Xxxxxx
