Amendment #3 to the Consulting Agreement by and between Community Bank of the Chesapeake and James Di Misa
AMENDMENT NUMBER 3 TO THE CONSULTING AGREEMENT BY AND BETWEEN
COMMUNITY BANK OF THE CHESAPEAKE AND JAMES F. DI MISA
This amendment to the consulting agreement by and between Community Bank of the Chesapeake (the "Bank") and James F. Di Misa (the "Consultant") is entered into on June 30, 2021 (the "Amendment Number 3").
WHEREAS, the Bank and the Consultant entered into a consulting arrangement ("Consulting Agreement") on April 1, 2019 and subsequently extended the term of the Consulting Agreement through June 30, 2021; and
WHEREAS, the Bank requires the Consultant's services for an additional three months and thereby wishes to further extend the Consulting Agreement through September 30, 2021; and
WHEREAS, the Consulting Fee (as such term is defined in Section 2(a) of the Agreement) will be $17,500.00 effective July 1, 2021.
|1.||Effective June 30, 2021, Section 2(a) of the Agreement is hereby amended by deleting the last three sentences in Section 2(a) and replacing those sentences with the following new language:|
'"If this Agreement is extended beyond September 30, 2021, the Consultant will be compensated on an hourly basis for actual hours worked and billed to the Bank. The Consultant's hourly fee will be $150 per hour. Consultant will be paid within 30 days of the Bank's receipt and approval of an invoice for hours billed."
|2.||Effective June 30, 2021, Section l(a) shall be deleted in its entirety and replaced with the following new Section l(a):|
"The Consultant shall provide consulting services through September 30, 2021, unless sooner terminated by the Parties or extended by the Bank. Any extension will be the "Consulting Period" for purposes of Section 3 of this Agreement."
|3.||All other provisions of the Agreement will remain in full force and effect|
|4.||The term of the Agreement is extended through September 30, 2021, unless otherwise terminated sooner or extended.|
IN WITNESS WHEREOF, the Bank has caused this Amendment Number 3 to be executed by its duly authorized representative and Consultant has signed this Amendment Number 3 effective as of the date first above written.