Document:

EXHIBIT 10.6

                 AMENDMENT OF 2000 EMPLOYEE STOCK PURCHASE PLAN

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                                                                    EXHIBIT 10.6

                              AMENDMENT NO.1 TO THE
                              INSILICON CORPORATION
                        2000 EMPLOYEE STOCK PURCHASE PLAN

      INSILICON CORPORATION ("inSilicon"), having established the inSilicon 2000
Employee Stock Purchase Plan (the "Plan"), hereby amends the Plan, effective as
of September 30, 2000 as follows:

      1. Section 6.1(a) of the Plan is amended and restated in its entirety to
      read as follows:

            (a) the closing price per Share on the date preceding the Grant Date
            for such option on the NASDAQ National Market System; or

      IN WITNESS WHEREOF, INSILICON CORPORATION, by its duly authorized officer,
has executed this Amendment No.1 on the date indicated below.

Dated: December 18, 2000                      INSILICON CORPORATION

                                              By: /s/ William E. Meyer
                                                  ------------------------------
                                                  William E. Meyer
                                                  Chief Financial OfficerEMPLOYMENT AGREEMENT

     THIS AGREEMENT entered into this 30th day of November, 1999, by and between
New South Bank (the "Bank") and H.D. Reaves, Jr. (the "Employee").

     WHEREAS,  the Employee has heretofore been employed by Home Federal Savings
and Loan  Association  (the  "Association")  as  President  and Chief  Executive
Officer and is experienced in all phases of the business of the Association; and

     WHEREAS, on August 9, 1999, the Association and its sole stockholder, Green
Street Financial Corp.  ("Green Street"),  entered into an Agreement and Plan of
Merger (the "Merger Agreement") with NewSouth Bancorp, Inc.  ("NewSouth"),  Bank
and Washington  Financial,  Inc. ("New Sub"),  pursuant to which New Sub will be
merged with and into Green Street (the "Merger"); and

     WHEREAS, the Agreement  contemplates that following the Merger Green Street
will be dissolved and the  Association  will merge with and into Bank (the "Bank
Merger"); and

     WHEREAS,  following  the Merger and the Bank  Merger,  the Bank  desires to
employ the Employee; and

     WHEREAS,  the parties  desire by this  writing to set forth the  continuing
employment relationship of the Bank and the Employee.

     NOW, THEREFORE, it is AGREED as follows:

     1.   EMPLOYMENT.  The  Employee is employed in the capacity as an Executive
Vice President of the Bank. The Employee  shall render such  administrative  and
management  services to the Bank and NewSouth as are  currently  rendered and as
are customarily  performed by persons situated in a similar executive  capacity.
The Employee shall promote the business of the Bank and NewSouth. The Employee's
other duties shall be such as the Board of Directors for the Bank (the "Board of
Directors" or "Board") may from time to time reasonably direct, including normal
duties as an officer of the Bank.

     2.   BASE COMPENSATION. The Bank agrees to pay the Employee during the term
of this Agreement a salary at the rate of $97,800 per annum, payable in cash not
less frequently than monthly.

     3.   DISCRETIONARY  BONUS. The Employee shall be entitled to participate in
an equitable  manner with all other senior  management  employees of the Bank in
discretionary  bonuses  that may be  authorized  and  declared  by the  Board of
Directors  to its  senior  management  employees  from  time to  time.  No other
compensation provided for in this Agreement shall be deemed a substitute for the
Employee's  right  to  participate  in such  discretionary  bonuses  when and as
declared by the Board of Directors.

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     4.   (a)  PARTICIPATION IN RETIREMENT AND MEDICAL PLANS. The Employee shall
be  entitled  to  participate  in any  plan of the  Bank  relating  to  pension,
profit-sharing,  or other retirement  benefits and medical  coverage  (including
dependent  coverage)  or  reimbursement  plans  that the Bank may  adopt for the
benefit of its  employees.  Employee  shall be given credit in all such employee
benefit plans for prior service with the Association.

          (b)  EMPLOYEE  BENEFITS;  EXPENSES.  The Employee shall be eligible to
participate in any fringe benefits which may be or may become  applicable to the
Bank's administrative officers, subject to the Board of Directors' approval. The
Bank shall reimburse  Employee for all reasonable  out-of-pocket  expenses which
Employee shall incur in connection with his service for the Bank.

     5.   TERM. The term of employment of Employee under this Agreement shall be
for the period  commencing on the date hereof (the "Effective  Date") and ending
thirty-six (36) months thereafter.

     6.   LOYALTY; NONCOMPETITION.

     (a)  The Employee shall devote his full attention to the performance of his
employment under this Agreement.  During the term of Employee's employment under
this  Agreement,  the  Employee  shall not engage in any  business  or  activity
contrary to the business affairs or interests of the Bank or NewSouth.

     (b)  Nothing  contained  in this  Section 6 shall be deemed to  prevent  or
limit the right of Employee to invest in the capital  stock or other  securities
of any business  dissimilar  from that of the Bank or NewSouth,  or, solely as a
passive or minority investor, in any business.

     7.   STANDARDS.  The Employee shall perform his duties under this Agreement
in  accordance  with  such  reasonable  standards  expected  of  employees  with
comparable positions in comparable  organizations and as may be established from
time to time by the Board of Directors.

     8.   VACATION  AND SICK  LEAVE.  At such  reasonable  times as the Board of
Directors  shall in its  discretion  permit,  the  Employee  shall be  entitled,
without loss of pay, to absent himself  voluntarily  from the performance of his
employment  under this Agreement,  with all such voluntary  absences to count as
vacation time; provided that:

     (a)  The Employee shall be entitled to annual  vacation leave in accordance
with the policies as are periodically  established by the Board of Directors for
senior management employees of the Bank.

     (b)  The  Employee   shall  not  be  entitled  to  receive  any  additional
compensation  from the Bank on account of his failure to take vacation leave and
Employee  shall not be entitled to  accumulate  unused  vacation from one fiscal
year to the next, except in either case to the extent authorized by the Board of
Directors for senior management employees of the Bank.

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     (c)  In addition to the aforesaid  paid  vacations,  the Employee  shall be
entitled without loss of pay, to absent himself voluntarily from the performance
of his employment with the Bank for such additional periods of time and for such
valid and  legitimate  reasons as the Board of Directors in its  discretion  may
determine.  Further,  the Board of  Directors  shall be entitled to grant to the
Employee a leave or leaves of absence  with or without pay at such time or times
and upon such terms and  conditions as the Board of Directors in its  discretion
may determine.

     (d)  In addition,  the  Employee  shall be entitled to an annual sick leave
benefit as established by the Board of Directors for senior management employees
of the Bank.  In the event that any sick leave  benefit shall not have been used
during any year, such leave shall accrue to subsequent  years only to the extent
authorized by the Board of Directors for employees of the Bank.

     9.   TERMINATION AND TERMINATION PAY.

     The Employee's employment under this Agreement shall be terminated upon any
of the following occurrences:

     (a)  The death of the Employee during the term of this Agreement,  in which
event the  Employee's  estate  shall be  entitled  to  continue  to receive  the
compensation the Employee would otherwise have received for the remainder of the
term of this Agreement.

     (b)  The Board of Directors may terminate the Employee's  employment at any
time, but any termination by the Board of Directors  other than  termination for
Just Cause,  shall not prejudice the Employee's  right to  compensation or other
benefits  under the  Agreement.  The  Employee  shall  have no right to  receive
compensation or other benefits for any period after  termination for Just Cause.
Termination for "Just Cause" shall include termination because of the Employee's
personal  dishonesty,  willful  misconduct,  breach of fiduciary  duty involving
personal profit,  willful  violation of any law, rule or regulation  (other than
traffic  violations or similar  offenses) or final  cease-and-desist  order,  or
material breach of any provision of the Agreement.

     (c)  Except  as  provided  pursuant  to  Section  12  herein,  in the event
Employee's  employment  under  this  Agreement  is  terminated  by the  Board of
Directors without Just Cause, the Bank shall be obligated,  for a period of time
equal to the remaining term of this  Agreement at the time of such  termination,
to continue to pay the Employee the salary provided pursuant to Section 2 herein
and the cost of Employee  obtaining  all  health,  life,  disability,  and other
benefits  which the Employee would be eligible to participate in for such period
of time,  other than benefits  under the Bank's  pension  plan,  401(k) plan and
employee stock ownership plan, based upon the benefit levels substantially equal
to those being  provided  Employee and  Employee's  dependent(s)  at the date of
termination of employment.  Such  compensation to be provided in accordance with
this Section 9 (c) shall be forfeited by the Employee for all periods  after the
date  that the  Employee  shall  engage in  providing  professional  service  or
employment  as an employee,  director,  consultant,  representative,  or similar
relationship to any financial services enterprises (including but not limited to
a savings and loan association,  bank, credit union, or insurance  company) with
offices or business  activities located in the counties of Cumberland or Robeson
in

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North  Carolina,  or elsewhere  within a 50 mile radius of  Fayetteville,  North
Carolina.  This limitation on future  activities shall not affect the payment of
previously  vested benefits under the compensation and benefit plans of the Bank
or for compensation payable in accordance with Section 12 of the Agreement.

     (d)  If  the  Employee  is  removed  and/or  permanently   prohibited  from
participation  in the  conduct of the Bank's  affairs by an order  issued  under
Sections 8 (e) (3) or 8 (g) (1) of the Federal  Deposit  Insurance  Act ("FDIA")
(12 U.S.C.  1818 (e) (3) and (g) (1)),  all  obligations  of the Bank under this
Agreement shall terminate, as of the effective date of the order, but the vested
rights of the parties shall not be affected.

     (e)  If the Bank is in  default  (as  defined in Section 3 (x) (1) of FDIA)
all obligations  under this Agreement shall terminate as of the date of default,
but this  paragraph  shall not  affect  any  vested  rights  of the  contracting
parties.

     (f)  All obligations  under this Agreement  shall be terminated,  except to
the extent  determined that  continuation of this Agreement is necessary for the
continued operation of the Bank: (i) by the North Carolina Banking Commission at
the time that the Federal Deposit Insurance  Corporation ("FDIC") enters into an
agreement to provide  assistance to or on behalf or the Bank under the authority
contained  in  Section  13 (c) of FDIA;  or (ii) by the North  Carolina  Banking
Commission at the time that the North  Carolina  Banking  Commission  approves a
supervisory  merger to resolve problems related to operation of the Bank or when
the Bank is  determined  by the North  Carolina  Banking  Commission to be in an
unsafe or unsound condition. Any rights of the parties that have already vested,
however, shall not be affected by such action.

     (g)  The  voluntary  termination  by the  Employee  during the term of this
Agreement  with the delivery of no less than 30 days written notice to the Board
of Directors,  other than pursuant to Section 12. In the event of such voluntary
termination,  the Bank  shall be  obligated,  for a period of time  equal to the
remaining term of this Agreement at the time of such termination, to continue to
pay the Employee the salary provided pursuant to Section 2 herein.

     (h)  Notwithstanding  anything herein to the contrary, any payments made to
the Employee  pursuant to the Agreement,  or otherwise,  shall be subject to and
conditioned  upon  compliance  with  12 USC  ss.1828  (k)  and  any  regulations
promulgated thereunder.

     10.  SUSPENSION  OF  EMPLOYMENT.   If  the  Employee  is  suspended  and/or
temporarily  prohibited from  participation in the conduct of the Bank's affairs
by a notice  served  under  Section 8 (e) (3) or (g) (1) of the FDIA (12  U.S.C.
1818 (e) (3) and (g) (1)), the Bank's  obligations  under the Agreement shall be
suspended as of the date of service,  unless stayed by appropriate  proceedings.
If the charges in the notice are  dismissed,  the Bank may in its discretion (i)
pay the Employee  all or part of the  compensation  withheld  while its contract
obligations were suspended and (ii) reinstate any of its obligations  which were
suspended.

     11.  DISABILITY.

     (a)  The  Bank  may  terminate  the  Employee's   employment  after  having
established the Employee's  disability.  In the event of such  termination,  the
Bank shall pay Employee the salary

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provided  pursuant  to  Section  2  herein  for a  period  of time  equal to the
remaining term of this Agreement at the time of such termination.

     (b)  During any period that the Employee shall receive disability  benefits
and to the extent that the Employee  shall be physically and mentally able to do
so, he shall furnish such information,  assistance and documents so as to assist
in the continued  ongoing  business of the Bank and, if able, shall make himself
available to the Bank to undertake  reasonable  assignments  consistent with his
prior  position  and his  physical  and  mental  health.  The Bank shall pay all
reasonable  expenses  incident to the performance of any assignment given to the
Employee during the disability period.

     12.  CHANGE IN CONTROL.

     Notwithstanding  any provision herein to the contrary,  in the event of the
involuntary  termination  of  Employee's  employment  during  the  term  of this
Agreement  following any change in control of the Bank or NewSouth,  absent Just
Cause,  Employee  shall  be  paid  an  amount  equal  to the  sum  of  the  base
compensation  he would have received  under Section 2 of this  Agreement for the
remaining term of the Agreement,  and the cost of Employee obtaining all health,
life,  disability,  and other  benefits  which the Employee would be eligible to
participate  in for such period of time,  other than  benefits  under the Bank's
pension plan,  401(k) plan and employee  stock  ownership  plan,  based upon the
benefit  levels  substantially  equal  to  those  being  provided  Employee  and
Employee's dependent(s) at the date of termination of employment. Said sum shall
be paid,  at the option of  Employee,  either in one (1) lump sum within  thirty
(30) days of such  termination,  or in periodic payments over the remaining term
of this Agreement, as if Employee's employment had not been terminated, and such
payments shall be in lieu of any other future  payments which the Employee would
be  otherwise   entitled  to  receive  under   Section  9  of  this   Agreement.
Notwithstanding  the foregoing,  all sums payable  hereunder shall be reduced in
such  manner and to such extent so that no such  payments  made  hereunder  when
aggregated with all other payments to be made to the Employee by the Bank or the
NewSouth  shall be deemed an  "excess  parachute  payment"  in  accordance  with
Section  280G of the Code and be subject to the excise tax  provided  at Section
4999(a) of the Code. The term "control" shall refer to the ownership, holding or
power to vote more than 25% of the  NewSouth's or the Bank's  voting stock,  the
control of the election of a majority of the NewSouth's or the Bank's directors,
or the exercise of a controlling  influence  over the  management or policies of
NewSouth  or the Bank by any person or by persons  acting as a group  within the
meaning  of  Section  13(d) of the  Securities  Exchange  Act of 1934.  The term
"person"  means  an  individual  other  than  the  Employee,  or a  corporation,
partnership,   trust,   association,   joint  venture,  pool,  syndicate,   sole
proprietorship,  unincorporated  organization  or any other  form of entity  not
specifically listed herein.

     13.  SUCCESSOR AND ASSIGNS.

     (a)  This  Agreement  shall inure to the benefit of and be binding upon any
corporate  or other  successor  of the Bank or  NewSouth  which  shall  acquire,
directly or indirectly, by merger, consolidation,  purchase or otherwise, all or
substantially all of the assets or stock of the Bank or NewSouth.

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     (b)  Since the Bank is  contracting  for the unique and personal  skills of
the Employee,  the Employee  shall be precluded from assigning or delegating his
rights or duties  hereunder  without first  obtaining the written consent of the
Bank.

     14.  AMENDMENTS.  No  amendments  or additions to this  Agreement  shall be
binding  upon the  parties  hereto  unless  made in  writing  and signed by both
parties, except as herein otherwise specifically provided.

     15.  APPLICABLE  LAW.  This  agreement  shall be governed  in all  respects
whether as to validity, construction, capacity, performance or otherwise, by the
laws of the State of North Carolina, except to the extent that Federal law shall
be deemed to apply.

     16.  SEVERABILITY.  The  provisions  of  this  Agreement  shall  be  deemed
severable and the  invalidity  or  unenforceability  of any provision  shall not
affect the validity or enforceability of the other provisions hereof.

     17.  ARBITRATION.  Any  controversy  or claim arising out of or relating to
this  Agreement,  or the breach  thereof,  shall be settled  by  arbitration  in
accordance  with the rules then in effect of the district office of the American
Arbitration  Association  ("AAA")  nearest to the home  office of the Bank,  and
judgement   upon  the  award  rendered  may  be  entered  in  any  court  having
jurisdiction thereof,  except to the extent that the parties may otherwise reach
a mutual settlement of such issue. The Bank shall incur the cost of all fees and
expenses  associated with filing a request for arbitration with the AAA, whether
such  filing is made on behalf  of the Bank or the  Employee,  and the costs and
administrative  fees  associated  with  employing  the  arbitrator  and  related
administrative  expenses assessed by the AAA. The Bank shall reimburse  Employee
for all reasonable  costs and expenses,  including  reasonable  attorneys' fees,
arising from such dispute, proceedings or actions, following the delivery of the
decision of the  arbitrator  finding in favor of the Employee;  provided that if
such  finding  of the  Arbitrator  is not in favor  of the  Employee  then  such
Employee shall reimburse the Bank for the initial filing fee paid by the Bank to
the AAA.  Further,  the settlement of the dispute to be approved by the Board of
the Bank or NewSouth may include a provision for the  reimbursement  by the Bank
or NewSouth to the Employee for all  reasonable  costs and  expenses,  including
reasonable  attorneys' fees, arising from such dispute,  proceedings or actions,
or the Board of the Bank or the NewSouth may  authorize  such  reimbursement  of
such reasonable  costs and expenses by separate action upon a written action and
determination   of  the  Board  following   settlement  of  the  dispute.   Such
reimbursement  shall be paid within ten (10) days of Employee  furnishing to the
Bank or NewSouth  evidence,  which may be in the form, among other things,  of a
canceled check or receipt, of any costs or expenses incurred by Employee.

     18.  ENTIRE  AGREEMENT.  This agreement  together with any understanding or
modifications  thereof as agreed to in writing by the parties,  shall constitute
the entire agreement between the parties hereto, and shall supersede any and all
preexisting employment or severance agreements or insurance arrangements between
the Employee and the  Association or Green Street.  Agreements and  arrangements
specifically  superseded pursuant to this Section 18 include but are not limited
to the employment  agreement  dated April 3, 1996 by and between the Association
and the Employee.

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     IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
month hereinabove written.

                                         NEWSOUTH BANK

ATTEST:                                  By: /s/ Thomas A. Vann
                                         ---------------------------------
                                         Thomas A. Vann
                                         President
/s/ William L. Wall
-------------------------------
William L. Wall
Secretary

WITNESS:

/s/ Allen Lloyd                          /s/ H.D. Reaves, Jr.
-------------------------------          ---------------------------------
                                         H.D. Reaves, Jr., Employee

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