Notice of Extension of Term of Employment Agreement between Placer Sierra Bancshares and David E. Hooston
Placer Sierra Bancshares, through its CEO Frank J. Mercardante and with Board approval, notifies David E. Hooston that his employment agreement, originally dated January 1, 2003, is being extended. The new term of employment will now continue through December 31, 2009. This extension is made in accordance with the terms of the original employment agreement.
Exhibit 10.1
NOTICE OF EXTENSION OF TERM OF EMPLOYMENT AGREEMENT
| To: | David E. Hooston | |
| From: | Frank J. Mercardante, as authorized by PLSB Board at its meeting held on October 26, 2006 | |
| Date: | October 30, 2006 | |
This is to notify you that on behalf of Placer Sierra Bancshares (the “Company”), as authorized by the Company’s Board of Directors at its meeting held on October 26, 2006, the Company has exercised its right to extend the term of your employment through December 31, 2009, pursuant to paragraph 1 of the Employment Agreement between you and Company, dated January 1, 2003.
| “COMPANY” | ||
| PLACER SIERRA BANCSHARES | ||
| By: | /s/ Frank J. Mercardante | |
| Frank J. Mercardante | ||
| Chief Executive Officer | ||
