Addendum to Employment Agreement between Eagle Financial Services, Inc. and Robert C. Boyd
This addendum modifies the employment agreement between Eagle Financial Services, Inc. and Robert C. Boyd. It allows Mr. Boyd, upon retirement and eligibility for U.S. Social Security benefits, to work part-time in loan and credit administration for a competing business, regardless of location. However, if Mr. Boyd is terminated for cause as defined in his original employment agreement, this addendum becomes void.
Exhibit 10.2
ADDENDUM TO THE EMPLOYMENT AGREEMENT
OF ROBERT C. BOYD
THIS ADDENDUM is made and entered into as of the 23rd day of August, 2011 by and between Eagle Financial Services, Inc., a Virginia corporation, hereinafter called the Corporation, and Robert C. Boyd hereinafter called Employee, and provides as follows:
Upon Employees termination from the Corporation due to having met the requirements to receive U.S. Social Security benefits, Employee is permitted to engage in loan and credit administration activities, on a part-time basis as an employee or independent contractor of a Competitive Business, without limitation of geographic location.
Termination of Employee for Cause, as defined in Employees original Employment Agreement, dated August 23, 2011, nullifies this Addendum.
EAGLE FINANCIAL SERVICES, INC. | ||
BY: | /s/ JOHN R. MILLESON | |
President |
Attest: |
/s/ KALEY P. CROSEN |
EMPLOYEE |
/s/ ROBERT C. BOYD (SEAL) |
Robert C. Boyd |
Attest: |
/s/ KALEY P. CROSEN |