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EXHIBIT 10(a)(i)
FIFTH AMENDMENT TO
DEFERRED COMPENSATION AGREEMENT
STATE OF TEXAS )
COUNTY OF XXXXX )
This AGREEMENT is entered into by and between Southside Bank of Tyler,
Texas, a Texas banking corporation ("BANK"), and X.X. XXXXXXX ("EXECUTIVE"),
whereby it is agreed as follows:
WITNESSETH:
I.
BANK and EXECUTIVE have heretofore entered into a Deferred Compensation
Agreement which has been amended with the last of such amendment being in
December of 1999. The parties, by this Amendment, agree to enlarge and increase
the Deferred Compensation as herein provided.
II.
The Board of Directors of BANK has unanimously voted to increase the
deferred compensation of EXECUTIVE by an amount equal to FOUR THOUSAND AND
NO/100 ($4,000.00) DOLLARS per month, which shall be in addition to all other
benefits and payments provided for under the Deferred Compensation Agreement.
III.
Payment of this additional amount shall commence upon the retirement (as
the term is defined in the Deferred Compensation Agreement) of EXECUTIVE, and
shall continue until EXECUTIVE'S death. However, this additional deferred
compensation shall become vested over a two year term. ONE THOUSAND THREE
HUNDRED
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THIRTY-FOUR AND NO/100 ($1,334.00) DOLLARS shall be and is hereby immediately
vested. On June 30, 2002, an additional ONE THOUSAND THREE HUNDRED THIRTY-THREE
AND NO/100 ($1,333.00) DOLLARS shall vest. After June 29, 2003, the complete
FOUR THOUSAND AND NO/100 ($4,000.00) DOLLARS shall be vested.
IV.
Except as amended and modified by this Agreement, the parties hereto
reaffirm and ratify the Deferred Compensation Agreement and all prior amendments
thereto.
EXECUTED as of the 29th day of June, 2001.
SOUTHSIDE BANK
By: /s/ XXX XXXXXX
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XXX XXXXXX, President
/s/ X.X. XXXXXXX
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X.X. XXXXXXX, Executive
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