Addendum No. 3 to Employment Agreement Between Nevada Security Bank and David A. Funk
This addendum modifies the employment agreement between Nevada Security Bank and David A. Funk, effective June 21, 2007. It states that, in the event of a merger or corporate dissolution, Mr. Funk will receive an additional payment equal to one month's salary for each year of service, on top of the previously agreed 24 months' compensation and other benefits. The agreement is signed by both parties, including the bank's Chief Executive Officer.
NEVADA SECURITY BANK
EMPLOYMENT AGREEMENT ADDENDUM NUMBER THREE
DAVID A. FUNK
An employment agreement dated November 18, 2002 by and between Nevada Security Bank and David A. Funk, is hereby amended as follows:
X.
MERGERS OR CORPORATE DISSOLUTION
In addition to the twenty-four (24) months compensation and other compensation described, an additional amount equal to one (1) month’s salary for each year of service will also be paid.
IN WITNESS WHEREOF the parties have executed this Addendum to the Agreement effective on June 21, 2007.
Nevada Security Bank | David A. Funk, Executive | |
By: |
Chief Executive Officer
