AMENDMENT TO EMPLOYMENT CONTINUITY AGREEMENT
Exhibit 10.28
AMENDMENT TO
EMPLOYMENT CONTINUITY AGREEMENT
EMPLOYMENT CONTINUITY AGREEMENT
LSB Bancshares, Inc., a North Carolina corporation (“Company”), and H. XXXXXXXX XXXXXXX, XX.
(“Executive”) hereby agree to amend the Employment Continuity Agreement, dated January 1, 2004,
between them (the “Agreement”) as follows:
1. | Merger of Equals. The parties acknowledge that this Amendment is being
entered into in anticipation of the merger of FNB Financial Services Corporation with
and into the Company (the “Merger”) and that this Amendment shall be effective only
upon the consummation of such Merger. |
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2. | Extension of Period. The parties agree that the six (6) month period
in Section 5(b)(i) of the Agreement shall be extended to a period of eighteen (18)
months following the Merger. |
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3. | Continuing Validity. Except as specifically amended herein, the
provisions of the Agreement shall remain in full force and effect without modification. |
Executed this the 15th day of May, 2007.
LSB BANCSHARES, INC. | ||||
By: | /s/ Xxxxxx X. Xxxx | |||
Xxxxxx X. Xxxx, Chairman, President and Chief Executive Officer |
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/s/ H. Xxxxxxxx Xxxxxxx, Xx. | ||||
H. Xxxxxxxx Xxxxxxx, Xx. |