Amendment No. 2 to Executive Employment Agreement between T Bancshares, Inc., T Bank, N.A., and Patrick Howard

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between T Bancshares, Inc. (and its subsidiary T Bank, N.A.) and executive Patrick Howard. Effective May 15, 2015, it changes Mr. Howard’s salary to $9,583.34 paid semi-monthly, provided he remains employed in good standing. All other terms of the original agreement remain unchanged unless they conflict with this amendment, in which case the amendment prevails.

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EX-10.1 2 ex10-1.htm EX-10.1
 
EXHIBIT 10.1

 AMENDMENT NUMBER 2
TO EXECUTIVE EMPLOYMENT AGREEMENT

This AMENDMENT is in clarification and amendment of that certain EXECUTIVE EMPLOYMENT AGREEMENT ("Agreement") dated March 28, 2013, (“Effective Date”) by and between T Bancshares, Inc., and its wholly owned subsidiary T Bank, N.A. ("Company"), and Patrick Howard ("Executive"), to which this AMENDMENT NUMBER 2 is attached and of which it is hereby made a part.
 
The Agreement is hereby supplemented and amended as follows:

1.  Definitions. All terms defined in the Agreement and not otherwise defined herein shall have the same meanings where used herein.
 
2.  Paragraph 3.a. is deleted in its entirety and replaced with the following to be and read: “So long as Executive is employed by the Company in good standing, commencing on May 15, 2015, the Company agrees to compensate the Executive on a salary basis of $9,583.34 semi-monthly.”
 
3.  General.
 
(a) Except as expressly amended and supplemented hereby, the Agreement remains in full force and effect.
 
(b) In the event of any conflict between the terms and conditions of this Amendment and the terms and conditions of the Agreement, the terms and conditions of this Amendment shall prevail.

Executed this 11th day of May, 2015


EXECUTIVE
 
           /s/ Shari Jensen                    
            /s/ Patrick Howard                      
WITNESS
Patrick Howard
   
T BANK N.A.
 
   
   
           /s/ Ron Denheyer                 
            /s/ Dan Basso                              
WITNESS
Chairman of the Board
   
T BANCSHARES, INC.
 
   
   
           /s/ Ron Denheyer                 
            /s/ Dan Basso                              
Witness
Chairman of the Board