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EXHIBIT 10.6
AMENDMENT TO THE
SUPPLEMENTAL RETIREMENT BENEFIT AGREEMENT
OF
XXXXX X. XXXXX
DATED JANUARY 1, 1997
January 26, 2000
As outlined in the Puyallup Valley Bank Board of Directors minutes dated January
26, 2000, the sum of Fifteen Thousand and No/100 Dollars ($15,000.00) a year is
being set aside for a period of five (5) years in a supplemental retirement
benefit agreement for Xxx X. Xxxxxxxx, Senior Vice President-Credit
Administrator, beginning in the year 2000.
Therefore, Xxxxx X. Xxxxx'x supplemental retirement benefit agreement of January
1, 1997, Paragraph 3.01 of the Deferred Compensation, shall be amended as
follows:
1997 $35,000.00
1998 $35,000.00
1999 $35,000.00
2000 $20,000.00
2001 $20,000.00
2002 $20,000.00
2003 $20,000.00
2004 $20,000.00
2005 $35,000.00
2006 $35,000.00
In the event that the employee, Xxx X. Xxxxxxxx, terminates earlier than the
five (5) years agreement, any balance remaining on the yearly commitment of
$15,000.00 will be re-credited to Xxxxx X. Xxxxx'x agreement of January 1, 1997
as originally stated.
Approved by:
/S/ XXXXXX X. XXXXXX /S/ XXXXXX XXXX
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Xxxxxx X. Xxxxxx Xxxxxx Xxxx
/S/ XXXXX XXXXXXX /S/ XXXXX XXXXX
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Xxxxx Xxxxxxx Xxxxx Xxxxx
/S/ DEXTER SILVER /S/ XXXXXX XXXXXXXX
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Dexter Silver Xxxxxx Xxxxxxxx
/S/ A. XXXXXX XXXXXXXXXXXX
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A. Xxxxxx Xxxxxxxxxxxx
