AMENDMENT TO SEVERANCE AGREEMENT
THIS AMENDMENT dated March 26, 1996 but effective as of November
21, 1994 ("Amendment") amends the Severance Agreement dated as of the 21st
day of June, 1993 by and between Stockton Savings Bank, F.S.B., a
federally chartered savings bank, with its principal executive offices at
000 Xxxx Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxx 00000 ("Bank") and Xxxxx X.
Xxx ("Employee").
NOW, THEREFORE, the parties agree as follows:
1. Each capitalized term defined in the Agreement shall have
the same meaning when used herein.
2. Section 5 of the Agreement is hereby amended to provide
that, upon termination of Employee's employment with the Bank under the
circumstances set forth in Section 4(b), in addition to the payments and
benefits provided in Sections 5(a) and 5(b), the Employee shall also be
entitled to receive in cash an amount equal to the bonus he received under
the Bank's bonus plan with respect to the preceding fiscal year.
3. The Bank's address for notices, as specified in Section
8, is amended to be 000 Xxxx Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxx 00000,
Attention: President.
4. Except as modified herein, the Agreement shall remain in
full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed as of the day and year first above written.
ATTEST: STOCKTON SAVINGS BANK, F.S.B.
/s/ Xxxxxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxxxx X. Xxxxxx, Assistant Xxxxxx X. Xxxxxxxxx
Secretary President
WITNESS: EMPLOYEE:
/s/ Xxxxxxxx X. Xxxxxx /s/ Xxxxx X. Xxx
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Name: Xxxxx X. Xxx
Address: 0000 Xxxxxxx Xxx
Xxxxxxxx, Xxxxxxxxxx 00000
