We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.
Explore a free library of open-source, peer-reviewed contract standards, adopted by thousands of business around the world and signed millions of times.
EXHIBIT 10.4 WEST GEORGIA NATIONAL BANK April 11, 2002 Xxxxxxx X. Xxxxxx 000 Xxxx Xxxx Xxxxx Xxxxxxxxxx, Xxxxxxx 00000 Re: West Georgia National Bank ("WGNB") Employment of Xxxxxxx Xxxxxx ("Employee") Dear Xx. Xxxxxx: The purpose of this letter is to set forth the new terms upon which WGNB agrees to employ you and under which you agree to be employed at WGNB. In that regard, please consult the letter agreement between you and WGNB dated August 30, 2000. This letter shall be treated as an amendment to that letter agreement pursuant to the "Miscellaneous" section of that letter agreement. The letter agreement shall remain in full force and effect, except as amended below: TERM. This Agreement is for a term of two years from the above date and may be extended for one additional year if neither party gives notice of termination more 90 days before the expiration of the initial term. COMPENSATION AND BENEFITS. From the time you agree to the terms of this letter until such time that this letter is amended or such time that your employment is terminated, WGNB will pay you for your services at a rate of $115,210 annually. (All other terms of "Compensation and Benefits" from the letter agreement remain in full force and effect.) IMPACT OF TERMINATION CAUSE UPON SEVERANCE COMPENSATION. If you are terminated without cause you shall receive upon such termination a lump-sum payment equal to two years compensation, including salary and benefits. (All other terms of "Impact of Termination Cause Upon Severance Compensation" from the letter agreement remain in full force and effect.) If you agree with the terms of this letter, please signify by signing below. Sincerely, West Georgia National-Bank /s/ X. Xxxxxxxx Xxxxxx By: X. XXXXXXXX XXXXXX Its: CHIEF EXECUTIVE OFFICER Agreed to and accepted, this 30 day of May, 2002. /s/ Xxxxxxx X. Xxxxxx