THIRD AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
EXHIBIT
10.8
THIRD
AMENDMENT TO
This
Third Amendment to the Executive Employment Agreement dated as of
December 13, 2005 between Merchants & Manufacturers Bancorporation,
Inc., a Wisconsin corporation ("Employer") and Xxxxxxx X. Xxxxx
("Executive").
RECITALS
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A.
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The
parties entered into an executive employment agreement dated
January 2, 1996 (the
"Agreement");
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B.
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The
parties entered into the First Amendment to the Agreement as of
June 25, 1997 (the "First
Amendment");
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C.
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The
parties entered into the Second Amendment to the Agreement as of
July 26, 2001 (the "Second
Amendment");
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D.
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The
issues relative to the First and Second amendments are no longer
pertinent
to the original Agreement between the
parties.
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AGREEMENT
In
consideration of the promises and mutual covenants contained herein and in
the
Agreement and the First and Second Amendments thereto, the parties agree as
follows:
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1.
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The
First Amendment and Second Amendment to the Agreement are hereby
rescinded
in their entirety.
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2.
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The
second sentence of Section 3 of the Agreement reading "As such, he is
presently serving in the capacity of President, Chairman of the Board
of
Directors and Chief Executive Officer of Employer ("Corporate Position")",
is hereby inserted and the following sentence which was previously
inserted pursuant to the Second Amendment to the Agreement is deleted:
"Executive is presently serving in the capacity of Chairman of the
Board
of Directors ("Corporate Position")." The effective date of
this change is the actual date on which Executive was elected to
the title
of "President, Chairman of the Board of Directors and Chief Executive
Officer."
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3.
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All
other provisions of the Agreement shall remain in full force and
effect.
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4.
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The
effective date of this Third Amendment to the Agreement shall be
the date
indicated in the second paragraph of this Third Amendment, notwithstanding
the actual date of execution by any
party.
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IN
WITNESS WHEREOF, the undersigned have duly executed this Third Amendment
as of the date first above written.
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EXECUTIVE;
/s/
Xxxxxxx X.
Xxxxx
Xxxxxxx
X. Xxxxx
MERCHANTS
AND MANUFACTURERS
BANCORPORATION,
INC.
By:
/s/ Xxxxxxxx X.
Xxxxxxxxx
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