Exhibit 10.4
AMENDMENT TO EXECUTIVE
SALARY CONTINUATION AGREEMENT
This agreement is dated the 17th day of January, 1987 by and between the
Borel Bank & Trust Company ("the Corporation") and Xxxxxx X. Xxxx ("the
Executive").
Once December 28, 1988 the Corporation and the Executive signed an
Executive Salary Continuation Agreement. Section 1.3 of that agreement relating
to DISABILITY is hereby amended to be replaced with the following:
"1.3 DISABILITY. The term "disability" shall mean permanently disabled,
due to illness or injury, so that the Executive is unable to perform to
a material degree his or her, current or later designated, duties as
Executive Officer of the Corporation. Such disability shall be
determined by an independent physician in the event of physical
disability or by an independent psychiatrist in the event of mental
disability selected with the approval of the Corporation and the
Executive; if they cannot agree on the selection, each shall submit a
list of three (3) physicians or psychiatrist as applicable, each shall
strike two (2) from-the other's list, and the final choice shall be
selected by lot (coin flip)."
Now, therefore, the Executive Salary Continuation Agreement is hereby
amended as above.
BOREL BANK & TRUST COMPANY
By: /s/ XXXXXX X. XXXX, PRES
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EXECUTIVE
/s/ XXXXXX X. XXXX
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