Exhibit 10.4
THIRD AMENDMENT TO THE DEFERRED COMPENSATION AGREEMENT
DATED APRIL 25, 1996
THIS AMENDMENT is dated as of April 27, 2001, and is by and between
the SOUTHSIDE BANCSHARES CORP., a Missouri corporation located in St. Louis
Missouri (the "Company") and XXXXXX X. XXXXXXXX (the "Employee").
RECITALS:
1. On April 25, 1996, the Employee and the Company entered
into a certain Deferred Compensation Agreement (the
"Agreement").
2. The Company and the Employee agree that it is in the best
interests of each party to amend the Agreement as provided
below.
NOW, THEREFORE, the Agreement is amended as follows with respect to
years beginning on and after January 1, 2001:
1. The first paragraph of Section 2 of the Agreement is amended
to read as follows.
"2. Grant of Awards. As of the date of this Agreement, an
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initial grant of 6,518 shares of Performance Stock, having
a value on the date of grant of $104,288.00 is hereby
credited to Employee's Performance Stock Account. For each
calendar year after 1995 during the term of this Agreement
(including any year in which a Change in Control shall
occur), Employee will be granted (as of the last business
day of each such year which in the event of a Change in
Control shall be the date of the Change in Control) such
number of whole and/or fractional shares of Performance
Stock, at a deemed value of the bid price of the Company's
publicly traded common stock on the last trading day of the
Plan Year (which in the event of a Change in Control shall
be the date of the Change in Control) in the case of 2.a.
and 2.b. and Five Dollars and Thirty Three Cents ($5.33)
per share in the case of 2.c., as shall have a value equal
to the sum of:"
IN WITNESS OF THE ABOVE, Employee has executed this Second Amendment
and the Company has caused its duly authorized officers to execute this
Second Amendment.
Employee: Company:
XXXXXX X. XXXXXXXX SOUTHSIDE BANCSHARES CORP.
/s/ Xxxxxx X. Xxxxxxxx /s/ Xxxxxxxx X. XxXxxxx
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Xxxxxx X. Xxxxxxxx Its Director
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