Document:

EXHIBIT 10.47

 

SECOND AMENDMENT
TO THE CLOVEST CORPORATION DIRECTOR DEFERRED

 

COMPENSATION
PLAN AGREEMENT DATED NOVEMBER 14, 1996

 

This Amendment, made and entered into this 31st day of
October, 2003, by and between Clovest Corporation, a corporation organized and
existing under the laws of the State of California, hereinafter referred to as
the “Corporation,” and Daniel N. Cunningham, a Director of the
Corporation, hereinafter referred to as the “Director,” shall effectively amend
the Director Deferred Compensation Agreement dated November 14, 1996, as
specifically set forth herein pursuant to Article 9 of said agreement.

 

The
agreement shall be amended as follows:

 

I.                                         Article 1,
Section 1.1.4 titled, Distribution Date, shall be deleted in its entirety
and replaced with the following:

 

1.1.4                        “Distribution Date”  means the later of the Director’s 75th
birthday or Termination of Service.

 

II.                                     Article 5,
Section 5.1.2, “Payment of Benefit” shall be deleted in
its entirety and replaced with the following:

 

5.1.2 Payment of Benefit. The Company shall pay the benefit to the
beneficiary in a lump sum within 30 days after the date of the Director’s
death.

 

III.                                 Exhibit 1 to Deferred
Fee Agreement, “Form of Benefit “ shall be deleted in its entirety and replaced
with the following:

 

I elect to receive benefits under the Agreement in the following form:

[Initial
One]

o
Lump sum

ý
Equal monthly installments for 60 
months.

 

I understand that I may not change the form of benefit elected, even if
I later change the amount of my deferrals under the Agreement without written
approval of the Board of Directors of Clovest Corporation.

 

This Amendment shall be effective from the date of inception of said
agreements and Article 1.1.4, Article 5.1.2 and Form of Benefit
referred to herinabove shall supersede Article 1.1.4, Article 5.1.2
and Form of Benefit of November 14, 1996 agreement.  To the extent that any term, provision, or
paragraph of said agreement is not specifically amended herin, or in any other
amendment thereto, said term, provision or paragraph shall remain in full force
and effect as set forth in said November 14, 1996 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.

 

	
   

  	
  CLOVEST CORPORATION

  
	
   

  	
  Clovis, Ca

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  By:

  	
  /s/Daniel J. Doyle

  	
   

  
	
  Witness

  	
   

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  /s/ Daniel N. Cunningham

  	
   

  
	
  Witness

  	
  Daniel N. CunninghamEXHIBIT
10.48

 

SECOND AMENDMENT

TO THE CLOVEST CORPORATION  DIRECTOR DEFERRED
COMPENSATION PLAN AGREEMENT

DATED NOVEMBER 14, 1996

 

This Amendment, made and entered into this 31st day of
October, 2003, by and between Clovest Corporation, a corporation organized and
existing under the laws of the State of California, hereinafter referred to as
the “Corporation,” and  William S.
Smittcamp, a Director of the Corporation, hereinafter referred to as
the “Director,” shall effectively amend the Director Deferred Compensation
Agreement dated November 14, 1996, as specifically set forth herein
pursuant to Article 9 of said agreement.

 

The
agreement shall be amended as follows:

 

IV.                                 Article 1,
Section 1.1.4 titled, Distribution Date, shall be deleted in its entirety
and replaced with the following:

 

1.1.5                        “Distribution Date”  means the later of the Director’s 60th
birthday or Termination of Service.

 

V.                                     Article 5,
Section 5.1.2, “Payment of Benefit” shall be deleted in
its entirety and replaced with the following:

 

5.1.2 Payment of Benefit. The Company shall pay the benefit to the
beneficiary in a lump sum within 30 days after the date of the Director’s
death.

 

This Amendment shall be effective from the date of inception of said
agreements and Article 1.1.4 and Article 5.1.2 referred to herinabove
shall supersede Article 1.1.4 and Article 5.1.2 of November 14,
1996 agreement.  To the extent that any
term, provision, or paragraph of said agreement is not specifically amended
herin, or in any other amendment thereto, said term, provision or paragraph
shall remain in full force and effect as set forth in said November 14,
1996 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.

 

	
   

  	
  CLOVEST CORPORATION

  
	
   

  	
  Clovis, Ca

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  By:

  	
  /s/ Daniel J. Doyle

  	
   

  
	
  Witness

  	
  Title

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  /s/William S. Smittcamp

  	
   

  
	
  Witness

  	
  William S. SmittcampEXHIBIT 10.49

 

SECOND AMENDMENT

TO THE CLOVEST CORPORATION  DIRECTOR DEFERRED

COMPENSATION PLAN AGREEMENT DATED NOVEMBER 14, 1996

 

This Amendment, made and entered into this 31st day of
October, 2003, by and between Clovest Corporation, a corporation organized and
existing under the laws of the State of California, hereinafter referred to as
the “Corporation,” and  Louis
McMurray, a Director of the Corporation, hereinafter referred to as
the “Director,” shall effectively amend the Director Deferred Compensation
Agreement dated November 14, 1996, as specifically set forth herein
pursuant to Article 9 of said agreement.

 

The
agreement shall be amended as follows:

 

VI.                                 Article 1,
Section 1.1.4 titled, Distribution Date, shall be deleted in its entirety
and replaced with the following:

 

1.1.6                        “Distribution Date”  means the later of the Director’s 65th
birthday or Termination of Service.

 

VII.                             Article 5,
Section 5.1.2, “Payment of Benefit” shall be deleted in
its entirety and replaced with the following:

 

5.1.2 Payment of Benefit. The Company shall pay the benefit to the
beneficiary in a lump sum within 30 days after the date of the Director’s
death.

 

VIII.                         Exhibit 1 to Deferred Fee
Agreement, “Form of Benefit “ shall be deleted in its entirety and replaced
with the following:

 

I elect to receive benefits under the Agreement in the following form:

[Initial
One]

o
Lump sum

ý
Equal monthly installments for 120 
months.

 

I understand that I may not change the form of benefit elected, even if
I later change the amount of my deferrals under the Agreement without written
approval of the Board of Directors of Clovest Corporation.

 

This Amendment shall be effective from the date of inception of said
agreements and Article 1.1.4, Article 5.1.2 and Form of Benefit
referred to herinabove shall supersede Article 1.1.4, Article 5.1.2
and Form of Benefit of November 14, 1996 agreement.  To the extent that any term, provision, or
paragraph of said agreement is not specifically amended herin, or in any other
amendment thereto, said term, provision or paragraph shall remain in full force
and effect as set forth in said November 14, 1996 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.

 

	
   

  	
  CLOVEST CORPORATION

  
	
   

  	
  Clovis, Ca

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  By:

  	
  /s/ Daniel J. Doyle

  	
   

  
	
  Witness

  	
  Title

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  /s/ Louis McMurray 

  	
   

  
	
  Witness

  	
  Louis McMurrayEXHIBIT 10.50

 

SECOND AMENDMENT

TO THE CLOVEST CORPORATION  DIRECTOR
DEFERRED

COMPENSATION PLAN AGREEMENT

DATED NOVEMBER 14, 1996

 

This Amendment, made and entered into this 31st day of
October, 2003, by and between Clovest Corporation, a corporation organized and
existing under the laws of the State of California, hereinafter referred to as
the “Corporation,” and  Wanda Lee
Rogers, a Director of the Corporation, hereinafter referred to as
the “Director,” shall effectively amend the Director Deferred Compensation
Agreement dated November 14, 1996, as specifically set forth herein
pursuant to Article 9 of said agreement.

 

The agreement shall be amended as follows:

 

IX.                                Article 1,
Section 1.1.4 titled, Distribution Date, shall be deleted in its entirety
and replaced with the following:

 

1.1.7                        “Distribution Date”  means the later of the Director’s 75th
birthday or Termination of Service.

 

X.                                    Article 5,
Section 5.1.2, “Payment of Benefit” shall be deleted in
its entirety and replaced with the following:

 

5.1.2 Payment of Benefit. The Company shall pay the benefit to the
beneficiary in a lump sum within 30 days after the date of the Director’s
death.

 

This Amendment shall be effective from the date of inception of said
agreements and Article 1.1.4 and Article 5.1.2 referred to herinabove
shall supersede Article 1.1.4 and Article 5.1.2 of November 14,
1996 agreement.  To the extent that any
term, provision, or paragraph of said agreement is not specifically amended
herin, or in any other amendment thereto, said term, provision or paragraph
shall remain in full force and effect as set forth in said November 14,
1996 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.

 

	
   

  	
  CLOVEST CORPORATION

  
	
   

  	
  Clovis, Ca

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  By:

  	
  /s/ Daniel J. Doyle

  	
   

  
	
  Witness

  	
   

  
	
   

  	
   

  
	
  /s/ Rona Melkus

  	
   

  	
  /s/ Wanda Lee Rogers

  	
   

  
	
  Witness

  	
  Wanda Lee Rogers

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