EXHIBIT 10.13
AMENDMENT TO BONUS AND STOCK OPTION AGREEMENT
For and in exchange for good and valuable consideration, the receipt
and sufficiency of which is acknowledged, Xxxxxx X. Xxxxx ("Individual") and
WGNB Corporation ("Corporation") hereby amend the Bonus and Stock Option
Agreement between them dated as of September 23, 1998.
Section 2.1 shall be changed to read as follows:
2.1 Corporation grants to Individual the option to acquire shares of
the common stock of Corporation on an annual basis ("Option
Shares"), pursuant to the WGNB Corp. Incentive Stock Option Plan
("ISO Plan") in an amount equal to 2 times the quotient (rounded
to the nearest whole share) which shall be determined by
dividing (a) the Cash Bonus due to Individual pursuant to
Section 1 for the applicable year, by (b) the Market Value Per
Share of the common stock of Corporation as the volume weighted
average closing price for the ninety calendar day period ending
with the date of the grant, except that the grant date price
shall be taken as of within an hour before the time of the
grant.
All other terms and conditions of the Bonus and Stock Option Agreement
shall remain in full force and effect and are not changed in any manner by the
execution of this Amendment.
Executed this 26th day of April, 2002.
WGNB Corp.
/s/ L. Xxxxxxxx Xxxxxx
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By: L. XXXXXXXX XXXXXX
Its: PRESIDENT & CEO
Executed this 26th day of April, 2002.
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
