FIRST AMENDMENT TO THE EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN AGREEMENT AND THE LIFE INSURANCE ENDORSEMENT METHOD SPLIT DOLLAR PLAN AGREEMENT EFFECTIVE JUNE 1, 2002
EXHIBIT 10.4
FIRST AMENDMENT
TO THE EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN
AGREEMENT AND THE LIFE INSURANCE ENDORSEMENT METHOD
SPLIT DOLLAR PLAN AGREEMENT
EFFECTIVE JUNE 1, 2002
TO THE EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN
AGREEMENT AND THE LIFE INSURANCE ENDORSEMENT METHOD
SPLIT DOLLAR PLAN AGREEMENT
EFFECTIVE JUNE 1, 2002
This Amendment, made and entered into this 13th day of September, 2005,
by and between First Federal Savings Bank, a bank organized and existing under the laws
of the United States of America, hereinafter referred to as the, “Bank”, and Xxxxxxx X. Xxxxx,
an Employee and Executive of the Bank, hereinafter referred to as the, “Executive”, shall
effectively amend the Executive Supplemental Retirement Plan Agreement and the
Life Insurance Endorsement Method Split Dollar Plan Agreement effective June 1, 2002.
I. Subparagraph I (H) titled, “Index”, of the Executive Supplemental Retirement
Plan Agreement, shall be amended to delete the Union Central Life Insurance Company Policy
and replace the same as follows:
| I. | DEFINITIONS |
| H. | Index: |
| Insurance Company: | New York Life Insurance & Annuity Corporation |
|
| Policy Form: | Universal Life |
|
| Policy Name: | BOLI |
|
| Insured’s Age and Sex: | 47, Male |
|
| Riders: | None |
|
| Ratings: | None |
|
| Option: | Level |
|
| Face Amount: | $3,557,481 |
|
| Premiums Paid: | $1,293,032.81 |
|
| Number of Premium Payments: | Single |
|
| Assumed Purchase Date: | May 23, 2005 |
This Amendment shall have the effect of using the Index from the previous Union Central
Life Insurance Company as well as the Massachusetts Mutual Life Insurance Company
policies until May 23, 2005. The Index on and subsequent to May 23, 2005, shall be
based upon the New York Life Insurance Company policy set forth hereinabove as well as
the Massachusetts Mutual Life Insurance Company policy set forth in the original June
1, 2002 Agreement.
II. Life Insurance Endowment Method Split Dollar Plan Agreement. The Union Central
“Insurer” and Policy Number” shall be deleted from page one (1) and replaced with the following.
| Insurer: | New York Life Insurance & Annuity Corporation |
|
| Policy Number: | 56610877 |
This Amendment shall be effective the 6th day of June 2005. To the extent that any
paragraph, term, or provision of said agreement is not specifically amended herein or in any other
amendment thereto, said paragraph, term, or provision shall remain in full force and effect as set
forth in said June 1, 2002 Agreement.
IN WITNESS WHEREOF, the parties hereto acknowledge that each has carefully read this
Amendment and executed the original thereof on the first day set forth hereinabove, and that, upon
execution, each has received a conforming copy.
| FIRST FEDERAL SAVINGS BANK Monessen, PA |
|||||
| /s/ Xxxxx Xxxxxxxxxx | By: | /s/ XxXxxxx Xxxxx, III | VP HR | ||
| Witness | Title | ||||
| /s/ Xxxxx Xxxxxxxxxx | /s/ Xxxxxxx X. Xxxxx | ||||
| Witness | Xxxxxxx X. Xxxxx | ||||
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