1
AMENDMENT NO. 1
TO
SPECIAL TERMINATION AGREEMENT
THIS AMENDMENT No. 1, dated as of July 1, 1997, to that certain Special
Termination Agreement (the "Agreement") that was amended and restated as of the
31st day of January, 1997 by and among Abington Bancorp, Inc., a Massachusetts
corporation, Abington Savings Bank, a Massachusetts savings bank, and Xxxxxx X.
Xxxxxxx, an individual currently o employed by the Company and the Bank in the
capacity of Executive Vice President.
NOW, THEREFORE, the parties to the Agreement hereby agree to amend the
Agreement as follows:
1. The first clause of Paragraph 3(a) is hereby amended to remove all
references to the office of chief financial officer, so that such clause as
amended shall read as follows'
"(a) termination by either of the Employers of the employment of the
Executive as Executive Vice President of the Bank or the Company for
any reason other than (i) death, (ii) deliberate dishonesty of the
Executive with respect to the Company or the Bank or any subsidiary or
affiliate thereof, or (iii) conviction of the Executive of a crime
involving moral turpitude, or"
2. Paragraph 4 of the Agreement is hereby amended by deleting the last
sentence thereof.
3. As amended by this Amendment, the Agreement shall continue in full force
and effect in accordance with its terms.
4. This Amendment may be executed in any number of counterparts, all of
which taken together shall constitute one and the same instrument, and any of
the parties hereto may execute this Amendment by signing any such counterpart.
5. This Amendment shall be governed by, and construed and enforced in
accordance with, the substantive laws of The Commonwealth of Massachusetts,
without regard to its principles of conflicts of laws.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day
and year first above written.
ABINGTON SAVINGS BANK ABINGTON BANCORP, INC.
By: /s/ Xxxxx X. XxXxxxxxx By: /s/ Xxxxx X. XxXxxxxxx
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Its President Its President & CEO
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
