AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
THIS AMENDMENT to an Executive Employment Agreement, dated October 20,
1999, is made this 17th day of November, 1999, between PFC BANK, a Pennsylvania
business corporation located at Fourth Street and Ford Avenue, XX Xxx 000, Xxxx
Xxxx, Xxxxxxxxxxxx 00000 (the "Bank") and PEOPLES FINANCIAL CORP., INC., a
Pennsylvania business corporation located at Fourth Street and Ford Avenue, XX
Xxx 000, Xxxx Xxxx, Xxxxxxxxxxxx 00000, (the "Corporation") and X. X. Xxxxxxxxx,
an adult individual residing in Pennsylvania (the "Executive").
WHEREAS, the Bank and Corporation desire to extend from August 31, 2001 to
August 31, 2003 the term under which X.X. Xxxxxxxxx shall serve as President and
Chief Executive Officer of the Bank and the Corporation under the terms and
conditions set forth in the Executive Employment Agreement, dated September 1,
1997, amended October 20, 1999, with all other terms and conditions unmodified.
ATTEST: PFC BANK
/s/ Xxxxxxx Xxxxxxxxx /s/ Xxxxx X. Xxxxx
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Xxxxxxx Xxxxxxxxx, Secretary Xxxxx Xxxxx, Chairman of the Board
ATTEST: PEOPLES FINANCIAL CORP., INC.
/s/ Xxxxxxx Xxxxxxxxx /s/ Xxxxx X. Xxxxx
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Xxxxxxx Xxxxxxxxx, Secretary Xxxxx Xxxxx, Chairman of the Board
WITNESS:
/s/ Xxxxx X. Xxxxx /s/ X. X. Xxxxxxxxx
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X. X. Xxxxxxxxx