EX-10.1
from 8-K
1 page
Effective May 26, 2009, Each of the Following Executive Officers Has Agreed to Modify Their Existing Employment Agreements as Follows: A. Frank Basirico, Jr., Chief Executive Officer (I) 10% Annual Base Salary Reduction From $290,000 to $261,000; and (II) Forego Receipt of a 50,000 Share Stock Option (Agreed Upon With the Bank but Not Yet Implemented) B. Martin E. Plourd, President/Chief Operating Officer (III) 10% Annual Base Salary Reduction From $250,000 to $225,000; and (IV) Forego Receipt of a 50,000 Share Stock Option Effective May 26, 2009, the Following Agreements Were Terminated at the Request of Each Officer/Party to His Respective Agreement
12/34/56