AMENDMENT NUMBER ONE TO SALARY CONTINUATION AGREEMENT
EXHIBIT
10.23
AMENDMENT
NUMBER ONE TO
This
Amendment Number One is made as of December 20, 2007, to the Salary Continuation
Agreement dated as of June 29, 2007 (the “Agreement”), by and between Southern
Community Bank and Trust and Xxxxx X. Xxxxxx.
1.
The
Agreement is amended by adding a new Paragraph 5.5 to read as
follows:
“Suicide
or Misstatement.
The Bank
shall not pay any benefit under this Agreement if the Executive commits suicide
within two years after the date of this Agreement or if the Executive makes
any
material misstatement of fact on any application or resume provided to the
Bank
or on any life insurance application for benefits which death benefits would
be
payable to the Bank.”
2.
No
other terms and conditions of the Agreement are affected by this
Amendment.
IN
WITNESS WHEREOF,
the
parties have executed this Amendment (Southern Community Bank and Trust by
its
duly authorized officer) effective as of the day and year first written
above.
SOUTHERN
COMMUNITY BANK AND TRUST
By:
/s/
F. Xxxxx Xxxxx
F.
Xxxxx
Xxxxx, CEO
OFFICER
/s/
Xxxxx X. Xxxxxx, Xx. (SEAL)
Xxxxx
X.
Xxxxxx
