SECOND AMENDMENT TO THE
EXECUTIVE SUPPLEMENTAL RETIREMENT
INCOME AGREEMENT
FOR XXXXXX XXXXXXX
For and in consideration of the premises, the Bank (as defined in the
referenced Agreement) and Xxxxxx Xxxxxxx (the "Executive") agree as follows:
Paragraph 1 of Exhibit A to the Agreement is modified as follows:
1. Interest Factor - for purposes of:
a. the Accrued Benefit Account - shall be seven percent (7%) per
annum, compounded monthly.
Paragraph 3 of Exhibit A to the Agreement is modified as follows:
3. Supplemental Retirement Income Benefit means an actuarially determined
annual amount equal to Eight-Five Thousand Seven Hundred and
Ninety-Five ($85,795) at age 65 if paid entirely from the Accrued
Benefit Account or Fifty-Four Thousand Nine Hundred and Nine ($54,909)
at age 65 if paid from the Retirement Income Trust Fund.
Paragraph 4 of Exhibit A to the Agreement is deleted and the following is
substituted in its stead in order to correctly set forth the Schedule of Annual
Gross Contribution/Phantom Contributions:
Plan Year Amount
--------- -------
1997 $11,867
1998 16,684
1999 19,371
2000 22,390
2001 30,270
2002 34,279
2003 38,709
2004 43,601
2005 48,998
2006 54,947
2007 61,500
2008 68,714
2009 76,649
2010 85,372
2011 94,956
2012 96,392
IN WITNESS WHEREOF, the Bank, the Holding Company and the Executive have
caused this Amendment to be executed on this, the 10th day of January, 2001.
ATTEST: UNITED NATIONAL BANK:
/s/ Xxxxx X. Xxxxx, Xx. By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------- ---------------------------------
Secretary EVP & CFO
---------------------------------
(Title)
ATTEST: UNITED NATIONAL BANCORP
/s/ Xxxxx X. Xxxxx, Xx. By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------- ---------------------------------
Secretary VP & TREASURER
---------------------------------
(Title)
WITNESS: EXECUTIVE:
/s/ Xxxxxxx Xxxxx /s/ Xxxxxx X. Xxxxxxx
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