AMENDMENT TO SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
Xxxxxxxx Financial Corporation 10-Q
Exhibit 10.1
AMENDMENT TO
SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
This Amendment (the “Amendment”) to the Supplemental Executive Retirement Agreement dated September 2, 2014 between Xxxxxxxx Trustco, Inc. and Xxxxx X. Xxxxxx (the “Agreement”), is entered into between Xxxxxxxx Financial Corporation, as successor to Xxxxxxxx Trustco, Inc., with offices at 000 Xxx Xxxxxxx, Xxxxxx, Xxx Xxxx 00000 (the “Company”), and Xxxxx X. Xxxxxx, residing at 00 Xxxxxxx Xx, Xxxxx, XX (the “Executive”).
IT IS AGREED AS FOLLOWS:
1. | For good and valuable consideration, the receipt of which is hereby acknowledged by the Company and the Executive, the Agreement is hereby modified to eliminate the provisions requiring the reduction of the Executive’s retirement benefit if the Executive’s Retirement Date occurs prior to the Executive attaining age sixty-five (65), and the retirement benefit payable to the Executive shall be unreduced on account of the Executive’s attained age at his Retirement Date. | |
2. | Except as modified by this Amendment, the remaining provisions of the Agreement shall remain in full force and effect. | |
3. | This Amendment shall be effective on the date of signing set forth below. |
IN WITNESS WHEREOF, this Agreement has been executed on this second day of September, 2014.
XXXXXXXX FINANCIAL CORPORATION | ||||
By: | /s/ Xxxxxxxx Xxxxxx | |||
Name: | Xxxxxxxx X. Xxxxxx | |||
ATTEST: | /s/ Xxxxx X. Cute | Title: | AVP, Corporate Secretary | |
By: | /s/ Xxxxx X. Xxxxxx | |||
ATTEST: | /s/ Xxxxxxx Xxxxxxx | Name: | Xxxxx X. Xxxxxx |