Exhibit 10.1
Amendment No. 2 To Employment Agreement
Amendment No. 2, dated as of May 1, 2006, by and between The Berkshire
Bank, a New York banking corporation ("Employer"), and Xxxxx Xxxxxx
("Employee"), to the Agreement, dated as of January 1, 2001, between Employer
and Employee (the "Employment Agreement").
W I T N E S S E T H:
WHEREAS, Employer and Employee entered into the Employment
Agreement; and
WHEREAS, Employer and Employee wish to amend the terms of the
Employment Agreement with respect to the term thereof.
NOW, THEREFORE, in consideration of the covenants herein
contained, the parties hereto hereby agree as follows:
1. Paragraph 3 of the Employment Agreement shall be amended to
read in its entirety as follows:
"3. Term of Employment. The employment by Employer of Employee
pursuant hereto shall commence as of the date hereof and, subject
to the provisions of paragraph 4 hereof, shall terminate on June
30, 2008; provided, however, that Employee's employment hereunder
shall be automatically renewed for up to three additional periods
of one year each unless Employee or Employer notifies the other,
not less than 60 days nor more than 90 days prior to the
expiration of Employee's then current employment period, that he
or it elects not to extend Employee's employment hereunder beyond
the expiration date of the then current employment period."
2. Except as otherwise amended hereby, the Employment Agreement
shall continue in full force and effect unamended from and after the date
hereof.
IN WITNESS WHEREOF, this Amendment No. 2 has been executed and
delivered by the parties hereto as of the date first above written.
THE BERKSHIRE BANK
/s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx
President and CEO
/s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx
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