First Amendment to Employment Agreement between U.S. Century Bank and Luis de la Aguilera

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment extends the employment agreement between U.S. Century Bank and Luis de la Aguilera. The original agreement, set to expire on April 16, 2019, is now extended to June 1, 2019. All other terms of the original employment agreement remain unchanged and in effect. The amendment becomes effective once both parties sign, either in person or by email.

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EX-10.3 6 exhibit103.htm exhibit103
 
 
Table
 
of Contents
 
Exhibit 10.3
FIRST AMENDMENT TO EMPLOYMENT
 
AGREEMENT
This
 
First
 
Amendment
 
to
 
Employment
 
Agreement
(“Amendment”)
 
is
 
made
 
by
 
and
between
 
Luis
 
de
 
la
 
Aguilera
 
(“EMPLOYEE”)
 
and
 
U.S.
 
Century
 
Bank
 
(“EMPLOYER”),
 
as
follows.
 
EMPLOYEE
 
and
 
EMPLOYER
 
are
 
referred
 
to
 
collectively
 
in
 
this
 
Amendment
 
as
 
the
“Parties.”
Recitals:
A.
On
 
April
 
16,
 
2016,
 
EMPLOYEE
 
and
 
EMPLOYER
 
entered
 
into
 
an
 
Employment
Agreement (the “Employment Agreement”) in
 
connection with EMPLOYEE’s
 
employment with
EMPLOYER.
B.
Paragraph
 
2(a)
 
of
 
the
 
Employment
 
Agreement
 
provides
 
that
 
the
 
Initial
 
Term
 
of
 
the
Agreement is for
 
three years, or
 
from April 16,
 
2016 through and
 
including April 16,
 
2019 (“Initial
Term Expiration Date”), unless extended in accordance with said Paragraph 2(a).
C.
EMPLOYER and EMPLOYEE would like to
 
extend the Initial Term Expiration Date.
Now Therefore,
in consideration of the mutual covenants in this
 
Amendment, and other good
and
 
valuable
 
consideration,
 
the
 
receipt
 
and
 
sufficiency
 
of
 
which
 
are
 
hereby
 
acknowledged,
 
the
Parties Hereby Agree as Follows:
1.
Extension
 
of
 
Initial
 
Term
 
Expiration
 
Date.
The
 
Parties
 
agree
 
that
 
the
 
Initial
 
Term
Expiration Date is extended to June 1, 2019.
2.
Agreement
 
Remains Effective.
The Agreement
 
remains in
 
full force
 
and effect
 
and has
been modified by this Amendment only as stated expressly in this Amendment.
3.
Effective
 
Date
 
and
 
Counterparts.
This
 
Agreement
 
may
 
be
 
made
 
effective
 
by
 
the
execution and delivery,
 
personally or by email, of separate
 
identical counterpart documents, each
of which shall be deemed to be an original and which, taken together, shall
 
constitute one and the
same instrument.
The Foregoing is Agreed to and
 
Accepted By: