Exhibit 10(10)
SECOND AMENDMENT TO THE
LINCOLN FEDERAL SAVINGS BANK
EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST AGREEMENT
(AS ADOPTED EFFECTIVE JULY 1, 1998)
Pursuant to rights reserved under Section 9.1 of the Lincoln Federal
Savings Bank Employee Stock Ownership Plan and Trust Agreement (the "Plan"),
Lincoln Federal Savings Bank (the "Bank") amends Section 1.12 of the Plan,
effective January 1, 2000, to provide, in its entirety, as follows:
Section 1.12. Compensation " shall mean the total of all amounts paid
or payable in cash by the Companies by reason of services performed by an
Employee during any period, including bonuses, overtime, any other cash payments
included on an Employee's W-2, amounts deferred by the Employee under any cash
or deferred arrangement maintained by a Company under Section 401(k) of the Code
and any salary reductions elected by the Employee pursuant to a salary reduction
plan maintained by a Company under Section 125 of the Code but excluding, with
respect to any Employee, any other amounts contributed by a Company for or on
account of that Employee under this Plan or under any other employee benefit
plan; provided, however, that for purposes of determining the Plan Year
Compensation of a Participant who receives all or a part of his Compensation in
commissions and for purposes of Section 4.2, the commissions in excess of fifty
thousand dollars ($50,000) shall be disregarded; provided, further, that
Compensation in a Plan Year in excess of one hundred and fifty thousand
($150,000), as adjusted pursuant to Section 401(a)(17) of the Code, shall be
disregarded.
This Second Amendment to the Plan has been executed this day of
16 day of May, 2000.
LINCOLN FEDERAL SAVINGS BANK
By: /s/ T. Xxx Xxxxx
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T. Xxx Xxxxx
Its: President/CEO
Attest:
By: /s/ Xxxx X. Xxxx
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Xxxx X. Xxxx
Its: Secretary/Treasurer
