Amendment No. 1 to the
Deferred Salary Profit-Sharing Thrift Plan
for Employees of North Valley Bancorp and its
Affiliates, including North Valley Bank
Pursuant to the provisions of Section 7.1(b)(1) of Article VII of the Plan, the
Adoption Agreement is hereby amended, effective January 1, 1996 as follows:
1. By the substitution of the following for Section E2:
"E2 SALARY REDUCTION ARRANGEMENT: ELECTIVE CONTRIBUTION (Plan Section
10.2) Each Employee may elect to have his Compensation reduced
by:
a. ( ) %
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b. ( ) up to %
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c. (X) from 1 % to 15 %
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d. ( ) up to the maximum percentage allowable not to exceed the
limits of Code Sections 401(k), 404 and 415.
AND . . .
e. (x) A Participant may elect to commence salary reductions as of
January 1st and July 1st (ENTER AT LEAST ONE DATE OR PERIOD).
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A Participant may modify the amount of salary reductions as
of January 1st and July 1st (ENTER AT LEAST ONE DATE OR
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PERIOD).
AND . . .
Shall cash bonuses paid within 2 1/2 months after the end of the
Plan Year be subject to the salary reduction election?
f. ( ) Yes
g. (X) No"
2. By the substitution of the following for Section E13.
"E13 FORM OF DISTRIBUTIONS (Plan Sections 5.5 and 5.6) Distributions
under the Plan may be made . . .
a. 1. ( ) in lump sums.
2. (X) in lump sums or installments.
b. AND, pursuant to Plan Section 5.13,
1. ( ) no annuities are allowed (avoids Joint and Survivor
rules).
2. (X) annuities are allowed (Plan Section 5.13 shall not
apply).
Exhibit 10(ii)
NOTE: b.1. above may not be elected if this is an amendment to
a plan which permitted annuities as a form of
distribution or if this Plan has accepted a plan to plan
transfer of assets from a plan which permitted annuities
as a form of distribution."
In witness whereof, the Employer hereby causes this amendment to be executed on
this 18th day of August, 1995.
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Employer: North Valley Bancorp
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(enter name)
By: Xxxxxx X. Xxxxxx
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