Exhibit 10.3
FIRST AMENDMENT TO EMPLOYMENT
AGREEMENT
This
First
Amendment
to
Employment
Agreement
(“Amendment”)
is
made
by
and
between
Luis
de
la
Aguilera
(“EMPLOYEE”)
and
U.S.
Century
Bank
(“EMPLOYER”),
as
follows.
EMPLOYEE
and
EMPLOYER
are
referred
to
collectively
in
this
Amendment
as
the
“Parties.”
Recitals:
A.
On
April
16,
2016,
EMPLOYEE
and
EMPLOYER
entered
into
an
Employment
Agreement (the “Employment Agreement”) in
connection with EMPLOYEE’s
employment with
EMPLOYER.
B.
Paragraph
2(a)
of
the
Employment
Agreement
provides
that
the
Initial
Term
of
the
Agreement is for
three years, or
from April 16,
2016 through and
including April 16,
2019 (“Initial
Term Expiration Date”), unless extended in accordance with said Paragraph 2(a).
C.
EMPLOYER and EMPLOYEE would like to
extend the Initial Term Expiration Date.
Now Therefore,
in consideration of the mutual covenants in this
Amendment, and other good
and
valuable
consideration,
the
receipt
and
sufficiency
of
which
are
hereby
acknowledged,
the
Parties Hereby Agree as Follows:
1.
Extension
of
Initial
Term
Expiration
Date.
The
Parties
agree
that
the
Initial
Term
Expiration Date is extended to June 1, 2019.
2.
Agreement
Remains Effective.
The Agreement
remains in
full force
and effect
and has
been modified by this Amendment only as stated expressly in this Amendment.
3.
Effective
Date
and
Counterparts.
This
Agreement
may
be
made
effective
by
the
execution and delivery,
personally or by email, of separate
identical counterpart documents, each
of which shall be deemed to be an original and which, taken together, shall
constitute one and the
same instrument.
The Foregoing is Agreed to and
Accepted By:
