EXHIBIT 10.5
AMENDMENT
TO THE EXECUTIVE SUPPLEMENTAL RETIREMENT
AGREEMENT DATED OCTOBER 20, 1999
This Amendment, made and entered into this 23 day of March, 2004, by and
between Gwinnett Banking Company, a bank organized and existing under the laws
of the State of Georgia, hereinafter referred to as the "Bank," and Xxxx X.
Xxxxxxxx, an Executive of the Bank, hereinafter referred to as the "Executive,"
shall effectively amend the Executive Supplemental Retirement Agreement dated
October 20, 1999, as specifically set forth herein. Said agreement shall be
amended as follows:
1.) Subparagraph II (C), Termination of Service, shall be deleted in its
entirety and replaced with the following:
C. Termination of Service:
Subject to Subparagraph II (E), upon a Termination of Service, the
Executive shall be entitled to receive one hundred percent (100%) of
the Bank's accrued liability balance.
This Amendment shall be effective the 1st day of January, 2004. To the
extent that any term, provision, or paragraph of said agreement is not
specifically amended herein, or in any other amendment thereto, said term,
provision, or paragraph shall remain in full force and effect as set forth in
said October 20, 1999 Agreement.
IN WITNESS WHEREOF, the parties hereto acknowledge that each has carefully
read this Amendment and executed the original thereof on the first day as set
forth hereinabove, and that, upon execution, each has received a conforming
copy.
GWINNETT BANKING COMPANY
Lawrenceville, GA
/s/ Xxxx X. Xxxx By: /s/ Xxxx X. Xxxxxxx III EVP
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Witness
/s/ Xxxx X. Xxxxx /s/ Xxxx X. Xxxxxxxx
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Witness Xxxx X. Xxxxxxxx
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