Exhibit 10.61
ADDENDUM AND AMENDMENT
EXECUTIVE EMPLOYMENT AGREEMENT
THIS ADDENDUM AND AMENDMENT, made effective this 25th day of January, 2001,
by and among Centura Banks, Inc., a North Carolina corporation having its
principal place of business in Rocky Mount, North Carolina ("Centura"), Centura
Insurance Services, Inc. ("CIS") a subsidiary of Centura, and Xxxxxx X. Xxxxx,
Xx. ("Xxxxx"), an employee of CIS.
WHEREAS, Centura, CIS and Xxxxx entered into an Executive Employment
Agreement (the "Agreement") as of November 3, 1997, and
WHEREAS, the parties desire to amend the Agreement to extend the term of
the Agreement;
NOW, THEREFORE, in consideration of these premises and the mutual
agreements and understandings hereunder, the parties hereto agree as follows:
1. Section 2 of the Agreement shall be amended to read as follows:
"2. TERM.
The initial term of this Agreement commenced on November 3, 1997 and
shall end on November 3, 2005 (the "Initial Term"). Upon expiration of the
Initial Term, this Agreement may be renewed for successive periods of one
(1) year upon the initial agreement of Xxxxx and CIS (the "Renewal
Terms")."
IN WITNESS WHEREOF, the parties hereto have caused this Addendum and
Amendment to be executed as of the day and year first above written.
CENTURA BANKS, INC.
By: /s/ H. Xxx Xxxxxx III
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ATTEST: Authorized Officer
/s/ Xxxx X. Xxxxxxx
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Secretary
(Corporate Seal)
CENTURA INSURANCE SERVICES, INC.
By: /s/ Xxxxx X. Xxxxx
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ATTEST: Authorized Officer
/s/ Xxxxxxxx Xxxxxxx, Jr.
--------------------------
Secretary
(Corporate Seal)
/s/ Xxxxxx X. Xxxxx, Xx. (SEAL)
--------------------------
Xxxxxx X. Xxxxx, Xx.
