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EXHIBIT 10.12
AMENDMENT
TO
SUPPLEMENTAL RETIREMENT AGREEMENT DATED DECEMBER 31, 1985
Agreement made this 22nd day of June, 1998, by and between SAVINGS BANK OF THE
FINGER LAKES, FSB, Federal Savings Association, having its head office at 000
Xxxxxxxx Xxxxxx, Xxxxxx, Xxx Xxxx, ("XXXX") and Xxxxx X. Xxxxxxxxxxx residing at
000 Xxxxxxx Xxxxxx, Xxxxxx, Xxx Xxxx, 00000 ("Xxxxxxxxxxx").
WHEREAS, Xxxxxxxxxxx and SBFL have entered into a Supplemental Retirement
Agreement dated December 31, 1985, and;
WHEREAS, under said Agreement, SBFL agreed to provide certain benefits to
Xxxxxxxxxxx upon his future retirement from SBFL, and;
WHEREAS, SBFL and Xxxxxxxxxxx desire to amend said Agreement,
NOW, THEREFORE, it is agreed by and between the Parties hereto as follows:
1. Section One of the Agreement dated December 31, 1985 is hereby amended by
adding the following thereto:
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"Such benefits shall be reduced by an amount equal to the annual dividend
payable on all Policies subject to any split dollar agreement in effect on
or after the Executive's attainment of age sixty-two (62)."
IN WITNESS WHEREOF, SBFL has caused this Agreement to be executed by its duly
authorized Officers, and Xxxxxxxxxxx has set his hand to this Agreement as of
the date first written.
SAVINGS BANK OF THE FINGER LAKES, FSB
By: /s/Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
Xx. Vice President & Chief Financial Officer
/s/Xxxxx X. Xxxxxxxxxxx
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Xxxxx X. Xxxxxxxxxxx
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