ADDENDUM TO EMPLOYMENT AGREEMENT
Exhibit
10.1.2
ADDENDUM
TO EMPLOYMENT AGREEMENT
This
Addendum to Employment Agreement (the "Addendum") is entered into as of November
21, 2006. All capitalized terms unless defined herein shall have the meanings
ascribed to them in the Employment Agreement (as defined below).
WITNESSETH:
WHEREAS,
Valley
Bank (the “Bank”) and Xxxxxx X. Xxxxxxx, Xx. (the “Employee”) are parties that a
certain Employment Agreement dated as of July 1, 2004, as amended as of November
1, 2004 (the “Employment Agreement”); and
WHEREAS,
the
parties wish to amend the Employment Agreement as provided for
herein.
NOW,
THEREFORE,
in
consideration of their mutual promises herein contained, the parties agree
as
follows:
1.
Section III(a) of the Employment Agreement is hereby amended by deleting “One
Hundred Forty Three Thousand ($143,000.00) Dollars” and inserting “One Hundred
Eighty Thousand Dollars ($180,000.00)” therefor.
2.
This Addendum (a) may be executed in any number of counterparts, each of which
shall be deemed to be an original but all of which together shall be considered
one instrument and (b)
shall
be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.
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IN
WITNESS WHEREOF,
the
parties hereto have caused this Addendum to be executed as of the day and year
first above written.
VALLEY
BANK
/s/
Xxxxx X. Xxxxx
By:
Xxxxx X. Xxxxx
/s/
Xxxxxx X. Xxxxxxx, Xx.
Xxxxxx
X.
Xxxxxxx, Xx.
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