FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.14.1
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT, dated as of this 26th day of March,
2007, by and between Fauquier Bankshares, Inc., a Virginia corporation (the “Company”), The
Fauquier Bank, a Virginia banking corporation (the “Bank”), and Xxxxx X. Xxxxxxx (the “Executive”)
amends that certain Employment Agreement dated as of January 19, 2005 (the “Employment Agreement”)
between the parties.
In consideration of the mutual covenants and agreements set forth herein, and for other good
and valuable consideration, receipt of which is hereby acknowledged, the parties agree that as
follows:
1. The first sentence of Section 3(c) of the Employment Agreement is amended to read as
follows, effective as of and from the January 15, 2005 Effective Date of the Employment Agreement:
Subject to the annual approval of the Compensation Committee or the Board of Directors of
the Company, as the case may be, the Executive will receive during the Term an annual stock
award under the Company’s Omnibus Stock Ownership and Long Term Incentive Plan or any
successor plan (the “Stock Compensation Plan”), with a value up to 90% of his actual annual
cash incentive payment earned each year.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the date first
written herein.
| Fauquier Bankshares, Inc. | ||||||
| By | /s/ X. X. Xxxxxxxx, Xx. | |||||
| Its | Chairman | |||||
| The Fauquier Bank | ||||||
| By | /s/ X. X. Xxxxxxxx, Xx. | |||||
| Its | Chairman | |||||
| /s/ Xxxxx X. Xxxxxxx | ||||||
| Xxxxx X. Xxxxxxx | ||||||
