First Amendment to Atlantic Southern Bank Supplemental Executive Retirement Agreement with Ed Loomis
This amendment is between Atlantic Southern Bank and Ed Loomis. It changes the original Supplemental Executive Retirement Agreement dated March 30, 2010, by setting the benefit amounts due to Ed Loomis upon separation from service or death to zero dollars. Both parties agree to this change, and Ed Loomis voluntarily gives up any benefits previously promised under the agreement. No additional compensation will be provided in exchange for this relinquishment.
Exhibit 10.4
FIRST AMENDMENT
TO THE
ATLANTIC SOUTHERN BANK
SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
DATED MARCH 30, 2010
FOR
ED LOOMIS
THIS FIRST AMENDMENT is adopted this day of , 20 , by and between ATLANTIC SOUTHERN BANK, a state-chartered commercial bank located in Macon, Georgia (the Employer), and Ed Loomis (the Executive).
The Employer and the Executive executed the Salary Continuation Agreement on March 30, 2010 (the Agreement).
The undersigned hereby amend the Agreement for the purpose of changing the respective benefit amounts due upon Separation from Service or death to be Zero Dollars ($0.00). Pursuant to Section 3 of the Agreement, the parties mutually agree to this amendment and no further consideration shall be exchanged by the parties in lieu of the benefits voluntarily relinquished by the Executive hereunder.
Therefore, the following changes shall be made:
The dollar amount in the last sentence of Section 2(a) shall be changed from Nine Thousand One Hundred and Sixty-Seven Dollars ($9,167.00) to Zero Dollars ($0).
IN WITNESS OF THE ABOVE, the Employer and the Executive hereby consent to this First Amendment.
Executive: | Company: | ||
| ATLANTIC SOUTHERN BANK | ||
|
| ||
|
| By |
|
Ed Loomis | Title |
| |