Second Amendment to Employment Agreement by and among City National Bank of New Jersey, City National Bancshares Corporation, and Preston D. Pinkett, III

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment extends the employment agreement between City National Bank of New Jersey, City National Bancshares Corporation, and Preston D. Pinkett, III for an additional two months, changing the term from six to eight months. All other terms and conditions of the original agreement remain unchanged. The amendment is effective as of September 1, 2011, and is signed by representatives of the bank, the corporation, and the executive.

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EX-10.2 3 ex10-2.htm EXHIBIT 10.2 ex10-2.htm
 

 
SECOND AMENDMENT
TO
EMPLOYMENT AGREEMENT


This Second Amendment to Employment Agreement (the “Amendment”) is made effective as of September 1, 2011 by and among CITY NATIONAL BANK OF NEW JERSEY, a national banking association (the “Bank”), CITY NATIONAL BANCSHARES CORPORATION, a New Jersey corporation ( “CNBC”) and PRESTON D. PINKETT, III, (the “Executive”).

WHEREAS, the Bank and the Executive have entered into an Employment Agreement effective as of March 1, 2011 which provides for the Executive's temporary but full time employment with the Bank, which agreement was amended by a First Amendment to Employment Agreement effective as of April 1, 2011 by and among the Bank, CNBC and the Executive (collectively, the “Agreement”); and

WHEREAS, the Agreement provided for a six month term; and

WHEREAS, the parties desire to extend the Agreement, on the same terms and conditions except for such amendments as provided for in this Amendment, for two additional months,

NOW, THEREFORE, in consideration of the mutual covenants herein contained and upon the terms and conditions hereinafter provided, the parties agree as follows:

The Agreement is hereby amended as follows:

1.           Terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Agreement.
 
2.           Section 2 of the Agreement shall be amended by extending the Term for two additional months by deleting the words “six (6)” and replacing them with “eight (8).”
 
3.           All of the terms and conditions of the Agreement not expressly modified herein shall remain in full force and effect.
 

 
[Signatures are on the following page]
 

 
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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed effective as of the date first written above.
 
 
CITY NATIONAL BANCSHARES CORPORATION
     
     
     
 
By:
/s/ Eugene Giscombe
   
Eugene Giscombe, Chairman
     
     
     
 
CITY NATIONAL BANK OF NEW JERSEY
     
     
     
 
By:
/s/ Eugene Giscombe
   
Eugene Giscombe, Chairman
     
     
     
 
/s/ Preston Pinkett III
 
Preston D. Pinkett, III, Executive

 

 
[Signature page to Second Amendment to Employment Agreement—Preston D. Pinkett, III]
 
 
 
 
 
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