EXHIBIT 10.5 FORM OF AMENDMENT NO. 1 TO SEVERANCE AGREEMENT
AMENDMENT NO. 1
TO THE
SEVERANCE AGREEMENT AMONG
ACADIANA BANCSHARES, INC.
LBA SAVINGS BANK
AND
EXECUTIVE
Amendment, dated as of July 16, 1999, by and between Acadiana
Bancshares, Inc., a Louisiana corporation (the "Corporation"), LBA Savings Bank,
a Louisiana chartered savings bank and a wholly owned subsidiary of the
Corporation (the "Savings Bank") and Executive (the "Executive") to the
Severance Agreement (the "Agreement"), dated as of July 15, 1996. Hereinafter,
the Corporation and the Savings Bank are referred to collectively as the
"Employers."
WHEREAS, in accordance with Section 8 of the Agreement, the Executive
and the Employers desire to revise the Agreement to provide for a one year
extension and automatic renewal for additional one year periods; and
WHEREAS, the Executive and the Employers hereto desire to amend the
Agreement in certain respects in order to reflect such revised structure.
NOW, THEREFORE, in consideration of the foregoing, and intending to be
legally bound hereby, the Executive and the Employers hereto agree as follows:
Section 11 is hereby amended in its entirety to read as follows:
"11. Term of Agreement. The term of this Agreement shall be to and
through July 15, 2000, whereupon it shall be automatically renewed on an annual
basis for additional one year periods unless the Employers give the Executive at
least 30 days prior notice in writing, that the agreement shall end at 5:00 p.m.
CST on the next succeeding July 15th following the date on which the notice is
given."
IN WITNESS WHEREOF, this Amendment has been executed by the Executive
and the Employers' respective officers thereunto duly authorized as of the date
first above written.
Attest: ACADIANA BANCSHARES, INC.
/s/ Xxxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxx, Xx.
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Xxxxx X. Xxxxx Xxxxxx X. Xxxxx, Xx.
President and Chief Executive Officer
Attest: LBA SAVINGS BANK.
/s/ Xxxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxx, Xx.
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Xxxxx X. Xxxxx Xxxxxx X. Xxxxx, Xx.
President and Chief Executive Officer
Witness:
/s/ witness By: /s/ Executive
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Executive
