Second Amendment to Employment Agreement between Heritage Bank of St. Tammany and Lisa Hughes
Heritage Bank of St. Tammany and Lisa Hughes have agreed to extend the term of Lisa Hughes' employment agreement. The new end date for the agreement is August 16, 2023, unless both parties agree to a different date. This amendment is effective as of August 16, 2020, and is signed by both the Bank and Ms. Hughes.
Exhibit 10.3
HERITAGE BANK OF ST. TAMMANY
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AMENDMENT NUMBER TWO
TO THE EMPLOYMENT AGREEMENT WITH LISA HUGHES
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This Amendment Number Two (the “Amendment”) to the Employment Agreement (the “Agreement”) entered into between Heritage Bank of St. Tammany (the “Bank”) and Lisa Hughes (the “Executive”) is made by the Bank and the Executive, effective as of August 16, 2020.
WHEREAS, the Agreement was entered effective as of February 16, 2017, and the term of the Agreement was subsequently extended until August 16, 2021; and
WHEREAS, the Bank and the Executive desire to amend the Agreement to extend the term of the Agreement; and
WHEREAS, pursuant to Section 15(a) of the Agreement, the Agreement may be amended by an instrument in writing signed by the parties.
NOW, THEREFORE, this Amendment is hereby adopted as follows:
1. | Section 2 of the Agreement is hereby amended to add the following sentence to the end of Section 2(a): |
“Notwithstanding the foregoing, the term of this Agreement will continue until August 16, 2023, or such other time, as mutually agreed upon by the parties.”
IN WITNESS WHEREOF, the Bank and the Executive have signed this Amendment this 16th day of June, 2020.
| HERITAGE BANK OF ST. TAMMANY | |
| | |
| By: | /s/Jason Hunt |
| Name: | Jason Hunt |
| Title: | Chairman of the Compensation Committee |
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| | |
| EXECUTIVE | |
| | |
| /s/Lisa B Hughes | |
| Lisa Hughes | |
