Document:

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                                                                    EXHIBIT 10.6

                              EMPLOYMENT AGREEMENT

      THIS EMPLOYMENT AGREEMENT ("AGREEMENT") is entered into by and between
VALLEY BANK (the "BANK") and BARRY L. HULIN ("EXECUTIVE") as of the 22nd day of
March, 2000 ("EFFECTIVE DATE").

                                    RECITALS

A.    Executive is presently the President and Chief Executive Officer ("CEO")
      of the Bank. The Bank wishes to continue Executive's employment in that
      capacity under the terms and conditions of this Agreement. For purposes of
      this Agreement, the term "Bank" refers to Valley Bank and any successor in
      interest.

B.    Under the terms of this Agreement, Executive wishes to continue his
      employment with the Bank.

                                    AGREEMENT

      The parties agree as follows.

1.    EMPLOYMENT. The Bank will continue Executive's employment during the Term,
      and Executive accepts employment by the Bank on the terms and conditions
      set forth in this Agreement. Executive's title with the Bank will be
      "President and CEO."

2.    EFFECTIVE DATE AND TERM.

      (a)   Effective Date. This Agreement is effective as of the Effective
            Date.

      (b)   Term. The term of this Agreement ("TERM") is three (3) years,
            beginning on the Effective Date. Notwithstanding the foregoing, this
            Agreement shall automatically terminate upon a Change in Control (as
            defined) in the Bank.

      (c)   Failure to Renew Term. If the parties do not renew this Agreement at
            the end of the Term, then at that time (i) Executive shall be deemed
            an at-will employee of the Bank, (ii) Executive shall cease to have
            any right to continued employment under this Agreement, and (iii)
            upon termination of his employment, Executive shall only be entitled
            to receive the salary and bonuses earned and expenses reimbursable
            through the date of such termination, except as otherwise expressly
            provided herein.

3.    DUTIES. Executive will faithfully and diligently perform the duties
      assigned to Executive from time to time by the Bank's board of directors.
      Executive will use his best efforts to perform his duties and will devote
      full time and attention to these duties during working hours. These duties
      will include, without limitation, the following:

      (a)   Bank Performance. Executive will be responsible for all aspects of
            the Bank's performance, including, without limitation, directing
            that daily operational and managerial matters are performed in a
            manner consistent with the Bank's policies. These duties will also
            include performing all other tasks in connection with the Bank's
            management and affairs that are normal and customary to Executive's
            position.

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      (b)   Development and Preservation of Business. Executive will be
            responsible for the development and preservation of banking
            relationships and other business development efforts (including
            appropriate civic and community activities) in the Bank's market
            areas.

      (c)   Report to Board. Executive will report directly to the Bank's board
            of directors. The Bank's board of directors may, from time to time,
            modify Executive's title or add to, delete from, or modify
            Executive's performance responsibilities to accommodate any
            management objectives of the Bank. Executive will assume any
            additional positions, duties, and responsibilities as may reasonably
            be requested of him with or without additional compensation, as
            appropriate and consistent with Sections 3(a), 3(b), and 3(c) of
            this Agreement.

      (d)   Goal Setting. Executive will, on an annual basis, contemporaneous
            with presentation of the Bank's annual budget to the Board of
            Directors, recommend short-term and long-term goals for the Bank,
            its management and Board of Directors to achieve.

4.    SALARY. Executive will receive an initial base salary of $120,000 per
      year, to be paid in accordance with the Bank's regular payroll schedule.
      The Bank's board of directors will at minimum review Executive's base
      salary on an annual basis.

5.    INCENTIVE COMPENSATION. The Bank's board of directors will determine the
      amount of bonus, if any, to be paid by the Bank to Executive for each year
      during the Term. In making this determination, the Bank's board of
      directors will consider factors such as Executive's performance of his
      duties and the safety, soundness, and profitability of the Bank.
      Executive's bonus, if any, will reflect Executive's contribution to the
      performance of the Bank during the year.

6.    INCOME DEFERRAL AND BENEFITS. Subject to eligibility requirements and in
      accordance with and subject to any policies adopted by the Bank's board of
      directors with respect to any benefit plans or programs, Executive will be
      entitled to receive benefits (including stock options) similar to those
      offered to other executive officers of the Bank with positions and duties
      comparable to those of Executive.

7.    BUSINESS EXPENSES. The Bank will reimburse Executive for ordinary and
      necessary expenses (including, without limitation, travel, entertainment,
      and similar expenses) incurred in performing and promoting the Bank's
      business. Executive will present from time to time itemized accounts of
      these expenses, subject to any limits of Bank policy or the rules and
      regulations of the Internal Revenue Service.

8.    CHANGE IN CONTROL WHILE EMPLOYED. If, while Executive is employed by the
      Bank (i) during the Term, and a Change in Control closes during the Term,
      or (ii) after expiration of the Term, and the Bank enters into an
      agreement for a Change in Control or any party announces or is required by
      law to announce a Change in Control of the Bank within six (6) months
      after expiration of the Term, then upon the closing of such Change in
      Control, Executive shall receive a single cash payment (the "CHANGE IN
      CONTROL PAYMENT") in an amount equal to three (3) times Executive's
      highest W-2 income (before salary deferrals) received from the Bank over
      the five (5) years preceding such closing. Upon payment of the Change in
      Control Payment, this Agreement, shall terminate automatically. If
      Executive's employment during the Term is terminated pursuant to Section
      9(b), and, within six (6) months following such termination, the Bank
      enters into an agreement for a Change in Control or any party announces or
      is required by

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      law to announce a prospective Change in Control of the Bank, the
      provisions of Section 9(c) shall apply.

9.    TERMINATION OF EMPLOYMENT

      (a)   Termination By Bank for Cause or by Executive without Good Reason.
            If, during the Term, the Bank terminates Executive's employment for
            Cause (defined below) or Executive terminates his employment without
            Good Reason (defined below), then (i) the Bank will pay Executive
            the salary earned and expenses reimbursable under this Agreement
            incurred through the date of such termination, and (ii) this
            Agreement will terminate immediately on the date of such
            termination. Executive will have no right to receive compensation or
            other benefits for any period after termination under this Section
            9(a).

      (b)   Termination By Bank without Cause or by Executive with Good Reason.
            If, during the Term, the Bank terminates Executive's employment
            without Cause or Executive resigns from the Bank with Good Reason
            (defined below), then (i) the Bank will pay Executive the
            Termination Payment (defined below) for the greater of (A) the
            remainder of the Term or (B) eighteen months, (ii) Executive will be
            subject to the noncompetition and nonsolicitation restrictions in
            Section 15 for the period of time during which he receives the
            Termination Payments, and (iii) this Agreement (other than the
            Bank's continuing obligation to make the Termination Payments and
            Executive's corresponding noncompetition and nonsolicitation
            obligation while receiving such payments) will terminate six (6)
            months following the date of such termination or resignation. If,
            within six (6) months following the date of such termination or
            resignation, the Bank enters into an agreement for a Change in
            Control, or any party announces or is required to announce a
            prospective Change in Control of the Bank, (i) the provisions of
            this Section 9(b) will cease to apply and the provisions of Section
            9(c) shall apply instead, and (ii) this Agreement will terminate
            upon payment of the Change in Control Payment pursuant to Section
            9(c) or the abandonment of such Change in Control..

            (1)   The "TERMINATION PAYMENT" shall be an amount equal to the sum
                  of (a) Executive's monthly base salary in effect at the time
                  his employment terminates and (b) one-twelfth (1/12) of
                  Executive's annual bonus for the year immediately preceding
                  the year in which his employment terminates.

            (2)   Notwithstanding the foregoing, if the Good Reason for which
                  Executive resigns is a reduction of salary as set forth in
                  Section 11(b)(1), then the monthly base salary to be used for
                  the purpose of the Termination Payment shall be Executive's
                  monthly base salary in effect prior to such reduction.

      (c)   Termination Prior to Change in Control. If, during the Term, the
            Bank terminates Executive's employment without Cause or Executive
            resigns for Good Reason and within six (6) months thereafter the
            Bank enters into an agreement for a Change In Control, or any party
            announces or is required by law to announce a prospective Change in
            Control of the Bank, then upon the closing of such Change in
            Control, Executive shall receive a Change in Control Payment in an
            amount equal to three (3) times Executive's highest W-2 income
            (before salary deferrals) received from the Bank over the five (5)
            years preceding the termination less the amount of any Termination
            Payments that have been paid to Executive through the date of such
            closing. Upon closing of the Change in

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            Control, Executive's noncompetition and nonsolicitation obligations
            under Section 15 shall terminate immediately.

      (d)   Death or Disability. This Agreement terminates (1) if Executive dies
            or (2) if Executive is unable to perform his duties and obligations
            under this Agreement for a period of 90 days as a result of a
            physical or mental disability arising at any time during the term of
            this Agreement, unless with reasonable accommodation Executive could
            continue to perform his duties under this Agreement and making these
            accommodations would not pose an undue hardship on the Bank. If
            termination occurs under this Section 9(d), Executive or his estate
            will be entitled to receive all compensation and benefits earned and
            expenses reimbursable through the date Executive's employment
            terminated.

10.   LIMITATIONS ON PAYMENTS RELATED TO CHANGE IN CONTROL. The total of the
      payments and benefits described in Sections 8 and 9 will be less than the
      amount that would cause them to be a "parachute payment" within the
      meaning of Section 280G(b)(2)(A) of the Internal Revenue Code of 1986.

11.   DEFINITIONS.

      (a)   Cause. "CAUSE" means only any one or more of the following:

            (1)   Willful misfeasance or gross negligence in the performance of
                  Executive's duties.

            (2)   Conviction of a crime in connection with his duties.

            (3)   Conduct demonstrably and significantly harmful to the Bank, as
                  reasonably determined on the advice of legal counsel by the
                  Bank's board of directors.

      (b)   Good Reason. "GOOD REASON" means only any one or more of the
            following:

            (1)   Reduction, without Executive's consent, of Executive's salary
                  or elimination of any compensation or benefit plan benefiting
                  Executive, unless the reduction or elimination is generally
                  applicable to substantially all similarly situated Bank
                  employees (or employees of a successor or controlling entity
                  of the Bank) formerly benefited.

            (2)   The assignment to Executive without his consent of any
                  authority or duties materially inconsistent with Executive's
                  position as of the date of this Agreement.

            (3)   A relocation or transfer of Executive's principal place of
                  employment that would require Executive to commute on a
                  regular basis more than [30] miles each way from his current
                  business office at the Bank on the date of this Agreement,
                  unless Executive consents to the relocation or transfer.

      (c)   Change In Control. For the purposes of this Agreement, the term
            "CHANGE IN CONTROL" means (a) a person or entity or a group of
            persons or entities acting in concert acquiring or otherwise
            becoming the owner (as a result of a purchase, merger, stock
            exchange, or otherwise) of more than fifty percent (50%) of the
            outstanding common stock of the

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            Bank, or (b) the merger of the Bank into any corporation, or the
            merger of any corporation into the Bank, where more than fifty
            percent (50%) of the stock of such corporation or the Bank, as the
            case may be, is owned other than by the owners of the common stock
            of the Bank, prior to such merger, or (c) the sale of substantially
            all of the assets of the Bank; provided, however, that an internal
            reorganization of the Bank (i.e., formation of a holding company)
            shall not constitute a Change in Control.

12.   MUTUALLY EXCLUSIVE PAYMENTS. The Change In Control Payment and the
      Severance Payment are mutually exclusive, and if the circumstances of
      Executive's termination would otherwise entitle Executive to receive both
      payments, Executive shall receive only the amount of the Change In Control
      Payment.

13.   CONFIDENTIALITY. Executive will not, after signing this Agreement,
      including during and after its Term, use for his own purposes or disclose
      to any other person or entity any confidential information concerning the
      Bank or its business operations or customers, unless (1) the Bank consents
      to the use or disclosure of its confidential information, (2) the use or
      disclosure is consistent with Executive's duties under this Agreement, or
      (3) disclosure is required by law or court order.

14.   RETURN OF BANK PROPERTY. If and when Executive ceases, for any reason, to
      be employed by the Bank, Executive must return to the Bank all keys, pass
      cards, identification cards and any other property of the Bank. At the
      same time, Executive also must return to the Bank all originals and copies
      (whether in hard copy, electronic or other form) of any documents,
      drawings, notes, memoranda, designs, devices, diskettes, tapes, manuals,
      and specifications which constitute proprietary information or material of
      the Bank. The obligations in this paragraph include the return of
      documents and other materials which may be in Executive's desk at work, in
      Executive's car or place of residence, or in any other location under
      Executive's control.

15.   NONCOMPETITION.

      (a)   Participation in a Competing Business. Except as otherwise expressly
            provided in this Agreement, while Executive is employed by the Bank
            pursuant to this Agreement and for so long as Executive receives any
            Termination Payments, Executive will not become involved with a
            Competing Business or serve, directly or indirectly, a Competing
            Business in any manner, including, without limitation, as a
            shareholder, member, partner, director, officer, manager, investor,
            organizer, "founder," employee, consultant, or agent; provided,
            however, that Executive may acquire and passively own an interest
            not exceeding 2% of the total equity interest in any entity (whether
            or not such entity is a Competing Business). Executive's obligations
            under this Section 15(a) terminate immediately upon a Change in
            Control of the Bank.

      (b)   No Solicitation. Except as otherwise expressly provided in this
            Agreement, while Executive is employed by the Bank pursuant to this
            Agreement and for so long as Executive receives any Termination
            Payments, Executive will not directly or indirectly solicit or
            attempt to solicit (1) any employees of the Bank to leave their
            employment or (2) any customers of the Bank to remove their business
            from the Bank, or to participate in any manner in a Competing
            Business. Solicitation prohibited under this Section includes
            solicitation by any means, including, without limitation, meetings,
            letters or other mailings, electronic communications of any kind,
            and internet communications.

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            Executive's obligations under this Section 15(b) terminate
            immediately upon a Change in Control of the Bank.

      (c)   Employment Outside Clark County, Nevada. Nothing in this Section 15
            prevents Executive from accepting employment outside Clark County,
            Nevada, from a Competing Business, as long as Executive will not (a)
            act as an employee or other representative or agent of the Competing
            Business within Clark County, Nevada or (b) have any
            responsibilities for the Competing Business' operations within Clark
            County, Nevada.

      (d)   Competing Business. "COMPETING BUSINESS" means any financial
            institution or trust company (including without limitation, any
            start-up or other financial institution or trust company in
            formation) that competes with, or will compete in Clark County,
            Nevada, with the Bank.

16.   ENFORCEMENT.

      (a)   The Bank and Executive stipulate that, in light of all of the facts
            and circumstances of the relationship between Executive and the
            Bank, the agreements referred to in Section 15 (including without
            limitation their scope, duration and geographic extent) are fair and
            reasonably necessary for the protection of the Bank's confidential
            information, goodwill and other protectable interests. If a court of
            competent jurisdiction should decline to enforce any of those
            covenants and agreements, Executive and the Bank request the court
            to reform these provisions to restrict Executive's use of
            confidential information and Executive's ability to compete with the
            Bank to the maximum extent, in time, scope of activities, and
            geography, the court finds enforceable.

      (b)   Executive acknowledges that the Bank will suffer immediate and
            irreparable harm that will not be compensable by damages alone, if
            Executive repudiates or breaches any of the provisions of Section 15
            threatens or attempts to do so. For this reason, under these
            circumstances, the Bank, in addition to and without limitation of
            any other rights, remedies or damages available to it at law or in
            equity, will be entitled to obtain temporary, preliminary, and
            permanent injunctions in order to prevent or restrain the breach,
            and the Bank will not be required to post a bond as a condition for
            the granting of this relief.

17.   ADEQUATE CONSIDERATION. Executive specifically acknowledges the receipt of
      adequate consideration for the covenants contained in Section 15 and that
      the Bank is entitled to require him to comply with that Section. Section
      15 will survive termination of this Agreement. Executive represents that
      if his employment is terminated, whether voluntarily or involuntarily,
      Executive has experience and capabilities sufficient to enable Executive
      to obtain employment in areas which do not violate this Agreement and that
      the Bank's enforcement of a remedy by way of injunction will not prevent
      Executive from earning a livelihood.

18.   ARBITRATION.

      (a)   Arbitration. At either party's request, the parties must submit any
            dispute, controversy or claim arising out of or in connection with,
            or relating to, this Agreement or any breach or alleged breach of
            this Agreement, to arbitration under the American Arbitration
            Association's rules then in effect (or under any other form of
            arbitration mutually acceptable to the parties). A single arbitrator
            agreed on by the parties will conduct the

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            arbitration. If the parties cannot agree on a single arbitrator,
            each party must select one arbitrator and those two arbitrators will
            select a third arbitrator. This third arbitrator will hear the
            dispute. The arbitrator's decision is final (except as otherwise
            specifically provided by law) and binds the parties, and either
            party may request any court having jurisdiction to enter a judgment
            and to enforce the arbitrator's decision. The arbitrator will
            provide the parties with a written decision naming the substantially
            prevailing party in the action. This prevailing party is entitled to
            reimbursement from the other party for its costs and expenses,
            including reasonable attorneys' fees.

      (b)   Governing Law. All proceedings will be held at a place designated by
            the arbitrator in Clark County, Nevada. The arbitrator, in rendering
            a decision as to any state law claims, will apply Nevada law.

      (c)   Exception to Arbitration. Notwithstanding the above, if Executive
            violates Section 15, the Bank will have the right to initiate the
            court proceedings described in Section 16(b), in lieu of an
            arbitration proceeding under this Section 18. The Bank may initiate
            these proceedings wherever appropriate within Nevada State; but
            Executive will consent to venue and jurisdiction in Clark County,
            Nevada.

19.   MISCELLANEOUS PROVISIONS.

      (a)   Entire Agreement. This Agreement constitutes the entire
            understanding between the parties concerning its subject matter and
            supersedes all prior agreements. Accordingly, Executive specifically
            waives the terms of and all of his rights under any employment,
            change-in-control and salary continuation agreements, whether
            written or oral, he has previously entered into with the Bank.

      (b)   Binding Effect. This Agreement will bind and inure to the benefit of
            the Bank's and Executive's heirs, legal representatives, successors
            and assigns.

      (c)   Litigation Expenses. If either party successfully seeks to enforce
            any provision of this Agreement or to collect any amount claimed to
            be due under it, this party will be entitled to reimbursement from
            the other party for any and all of its out-of-pocket expenses and
            costs including, without limitation, reasonable attorneys' fees and
            costs incurred in connection with the enforcement or collection.

      (d)   Waiver. Any waiver by a party of its rights under this Agreement
            must be written and signed by the party waiving its rights. A
            party's waiver of the other party's breach of any provision of this
            Agreement will not operate as a waiver of any other breach by the
            breaching party.

      (e)   Counsel Review. Executive acknowledges that he has had the
            opportunity to consult with independent counsel with respect to the
            negotiation, preparation, and execution of this Agreement.

      (f)   Assignment. The services to be rendered by Executive under this
            Agreement are unique and personal. Accordingly, Executive may not
            assign any of his rights or duties under this Agreement.

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      (g)   Amendment. This Agreement may be modified only through a written
            instrument signed by both parties.

      (h)   Severability. The provisions of this Agreement are severable. The
            invalidity of any provision will not affect the validity of other
            provisions of this Agreement.

      (i)   Governing Law and Venue. This Agreement will be governed by and
            construed in accordance with Nevada law, except to the extent that
            certain matters may be governed by federal law. The parties must
            bring any legal proceeding arising out of this Agreement in Clark
            County, Nevada, and the parties will submit to jurisdiction in that
            county.

      (j)   Counterparts. This Agreement may be executed in one or more
            counterparts, each of which will be deemed an original, but all of
            which taken together will constitute one and the same document.

Signed: March 22, 2000:

                                          VALLEY BANK

                                          By /s/ Robert E. O'Connell
                                             --------------------------------
                                             Robert E. O'Connell
                                             Chairman of the Board of Directors

                                          BARRY L. HULIN, individually

                                          /s/ Barry L. Hulin
                                          --------------------------------------
                                          BARRY L. HULIN

                                       8

<PAGE>

                        AMENDMENT TO EMPLOYMENT AGREEMENT

This Amendment to Employment Agreement ("Amendment") is entered into by and
between VALLEY BANK (the "Bank") and BARRY L. HULIN ("Executive") as of the 23rd
day of October, 2002.

                                    RECITALS

A.    Executive and the Bank are parties to an Employment Agreement, dated March
      22, 2000 (the "Employment Agreement"), pursuant to which the Bank has
      hired Executive as the Bank's President and Chief Executive Officer for a
      term ending on March 21, 2003.

B.    On May 1, 2001, the Bank was reorganized as a wholly owned subsidiary of
      Valley Bancorp ("Bancorp") (the "Reorganization").

C.    Executive and the Bank wish to amend the Employment Agreement to extend
      the Term (as defined therein) for an additional three years, so that the
      Term is six (6) years from the Effective Date of March 22, 2000.

D.    Further, in light of the Reorganization, Executive and the Bank wish to
      amend the Employment Agreement to make Bancorp a party to such agreement
      and to clarify that all provisions of the Employment Agreement applicable
      to the Bank are equally applicable to Bancorp.

                                    AGREEMENT

The parties agree as follows:

1.    Extension of Term. Section 2(a) of the Employment is hereby amended in its
      entirety to read as follows:

      a.    Term. The term of this Agreement ("Term") is six (6) years,
            beginning on the Effective Date. Notwithstanding the foregoing, this
            Agreement shall automatically terminate upon a Change in Control (as
            defined), subject to the Change in Control payment provisions
            otherwise provided in this Agreement.

2.    Application to Bancorp. All references in the Employment Agreement to the
      "Bank" are hereby amended to read "the Bank and/or Valley Bancorp."
      Without limiting the generality of the preceding sentence, the parties to
      this Amendment specifically intend that the change in control provisions
      of the Employment Agreement, including the definition of "Change in
      Control," shall apply to Bancorp as well as the Bank, so that a Change in
      Control of Bancorp shall trigger such provisions to the same extent as a
      Change in Control of the Bank.

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3.    Miscellaneous.

      a.    No Other Changes. Except as revised by Sections 1 and 2 of this
            Amendment, all other terms of the Employment Agreement remain
            unchanged and continue in full force and effect.

      b.    Governing Law. This Amendment is governed by Nevada law.

Effective as of the date first set forth above.

VALLEY BANK                                      BARRY L. HULIN, individually

By /s/ Robert E. O'Connell                       /s/ Barry L. Hulin
   -----------------------------------------     ------------------------------
   Robert E. O' Connell                          Barry L. Hulin
   Chairman of the Board of Directors

Acknowledged and agreed:

VALLEY BANCORP

By /s/ Robert E. O'Connell
   -----------------------------------------
   Robert E. O'Connell
   Chairman of the Board of Directors

                                       2

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                    SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

This Second Amendment to Employment Agreement ("Amendment") is entered into by
and between VALLEY BANK (the "Bank"), VALLEY BANCORP ("Bancorp" and together
with the Bank, the "Company") and BARRY L. HULIN ("Executive") as of the 26th
day of May, 2004.

                                    RECITALS

A.    Executive and the Company are parties to an Employment Agreement, dated
      March 22, 2000, as amended October 23, 2002 (the "Employment Agreement"),
      pursuant to which the Company has hired Executive as its President and
      Chief Executive Officer for a term ending on March 21, 2006.

B.    Executive and the Company wish to amend the Employment Agreement to (i)
      extend the Term (as defined therein) for an additional three years, and
      (ii) expand the geographic scope of the non-competition provisions to
      include Nye County, Nevada.

                                    AGREEMENT

The parties agree as follows:

1.    Extension of Term. Section 2(a) of the Employment Agreement is hereby
      amended in its entirety to read as follows:

            a.    Term. The term of this Agreement ("Term") commences on the
                  Effective Date and expires on March 21, 2009. Notwithstanding
                  the foregoing, this Agreement shall automatically terminate
                  upon a Change in Control (as defined), subject to the Change
                  in Control payment provisions otherwise provided in this
                  Agreement.

2.    Inclusion of Nye County, NV in Non-Compete. Subsections (c) and (d) of
      Section 15 of the Employment Agreement are hereby amended in their
      entirety to read as follows:

            c.    Employment Outside Restricted Area Clark & Nye Counties,
                  Nevada. Nothing in this Section 15 prevents Executive from
                  accepting employment outside Clark County or Nye County,
                  Nevada (the "RESTRICTED AREA"), from a Competing Business, as
                  long as Executive will not (a) act as an employee or other
                  representative or agent of the Competing Business within the
                  Restricted Area or (b) have any responsibilities for the
                  Competing Business' operations within the Restricted Area.

            d.    Competing Business. "COMPETING BUSINESS" means any financial
                  institution or trust company (including without limitation,
                  any start-up or other financial institution or trust company
                  in formation) that competes with, or will compete with the
                  Bank in the Restricted Area.

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3.    Miscellaneous.

      a.    No Other Changes. Except as revised by Sections 1 and 2 of this
            Amendment, all other terms of the Employment Agreement remain
            unchanged and continue in full force and effect.

      b.    Governing Law. This Amendment is governed by Nevada law.

Effective as of the date first set forth above.

VALLEY BANK                                        BARRY L. HULIN, individually

By /s/ Thomas J. Krob                              /s/ Barry L. Hulin
   -----------------------------------------       ----------------------------
      Thomas J. Krob                               Barry L. Hulin
      Chairman of the Board of Directors

Acknowledged and agreed:

VALLEY BANCORP

By /s/ Thomas J. Krob
   -----------------------------------------
   Thomas J. Krob
   Chairman of the Board of Directors

                                       2<PAGE>

                                                                    EXHIBIT 10.7

                                   VALLEY BANK

                      CHANGE IN CONTROL SEVERANCE AGREEMENT

THIS SEVERANCE AGREEMENT ("AGREEMENT") is entered into by and between VALLEY
BANK (the "BANK"), a Nevada state-chartered bank, and STEVE GILBERT
("EXECUTIVE"), effective as of March 22, 2000.

The Bank and Executive agree as follows:

1.    COMMITMENT OF EXECUTIVE. In the event that any person extends any proposal
      or offer which is intended to or may result in a Change In Control
      (defined below), Executive shall, at the Bank's request, assist the Bank
      in evaluating such proposal or offer. Further, subject to the additional
      terms and conditions of this Agreement, in order to receive the Change In
      Control Payment (defined below), Executive cannot resign from the Bank
      during any period from the receipt of a specific Change In Control
      proposal up to the consummation or abandonment of the transaction
      contemplated by such proposal.

2.    CHANGE IN CONTROL. For the purposes of this Agreement, the term "CHANGE IN
      CONTROL" means (a) a person or entity or a group of persons or entities
      acting in concert acquiring or otherwise becoming the owner (as a result
      of a purchase, merger, stock exchange, or otherwise) of more than fifty
      percent (50%) of the outstanding common stock of the Bank, or (b) the
      merger of the Bank into any corporation, or the merger of any corporation
      into the Bank, where more than fifty percent (50%) of the stock of such
      corporation or the Bank, as the case may be, is owned other than by the
      owners of the common stock of the Bank, prior to such merger, or (c) the
      sale of substantially all of the assets of the Bank; provided, however,
      that an internal reorganization of the Bank (i.e., formation of a holding
      company) shall not constitute a Change in Control.

3.    PAYMENT OBLIGATIONS.

      3.1   Closing of Change in Control. If, consistent with Section 1,
            Executive remains employed with the Bank through the closing of a
            Change in Control, then upon such closing, Executive shall receive a
            single cash payment (the "CHANGE IN CONTROL PAYMENT") in an amount
            equal to one and one-half (1.5) times Executive's highest W-2 income
            (before salary deferrals) received from the Bank over the three
            years preceding the date of closing. Upon payment of the Change in
            Control Payment to Executive, this Agreement shall terminate.

      3.2   Termination Prior to Change in Control. If, prior to a Change in
            Control, the Bank terminates Executive's employment without Cause
            (defined below) or Executive resigns for Good Reason (defined
            below), and within six months thereafter the Bank enters into an
            agreement for a Change in Control, or any party announces or is
            required by law to announce a prospective Change in Control of the
            Bank, then upon the closing of such Change in Control, Executive
            shall

<PAGE>

            receive the Change in Control Payment in an amount equal to one and
            one-half (1.5) times Executive's highest W-2 income (before salary
            deferrals) received from the Bank over the three years preceding the
            date of termination or resignation.

      3.3   Parachute Payment Limitation. Notwithstanding anything in this
            Agreement to the contrary, the Change in Control Payment shall not
            exceed an amount equal to One Dollar ($1.00) less than the amount
            that would cause the payment, together with any other payments
            received from the Bank, to be a "parachute payment" within the
            meaning of Section 280G(b)(2)(A) of the Internal Revenue Code of
            1986, as amended.

4.    TERMINATION OF AGREEMENT. This Agreement terminates immediately if, at any
      time before the Change in Control transaction closes, (i) the Bank
      terminates Executive's employment for Cause, (ii) Executive resigns from
      the Bank without Good Reason, (iii) Executive dies, or (iv) Executive is
      unable to perform his duties and obligations to the Bank for a period of
      90 consecutive days as a result of a physical or mental disability, unless
      with reasonable accommodation Executive could continue to perform such
      duties and making these accommodations would not pose an undue hardship on
      the Bank. This Agreement will terminate six months after Executive's
      employment is terminated by the Bank without Cause or by Executive for
      Good Reason, unless during such six-month period, the Bank enters into an
      agreement for a Change in Control, or a Change in Control is announced or
      required by law to be announced, in which case this Agreement will
      terminate upon payment of the Change in Control Payment pursuant to
      Section 3.2 or the abandonment of such Change in Control.

5.    DEFINITIONS.

      5.1   Cause. "CAUSE" means any one or more of the following:

            a.    Willful misfeasance or gross negligence in the performance of
                  Executive's duties.

            b.    Conviction of a crime in connection with his duties.

            c.    Conduct demonstrably and significantly harmful to the Bank, as
                  reasonably determined on the advice of legal counsel by the
                  Bank's board of directors.

      5.2   Good Reason. "GOOD REASON" means only any one or more of the
            following:

            a.    Reduction, without Executive's consent, of Executive's salary
                  or elimination of any compensation or benefit plan benefiting
                  Executive, unless the reduction or elimination is generally
                  applicable to substantially all similarly situated Bank
                  employees (or employees of a successor or controlling entity
                  of the Bank) formerly benefited.

                                       2
<PAGE>

            b.    The assignment to Executive without his consent of any
                  authority or duties materially inconsistent with Executive's
                  position as of the date of this Agreement.

            c.    A relocation or transfer of Executive's principal place of
                  employment that would require Executive to commute on a
                  regular basis more than [30] miles each way from his current
                  business office at the Bank on the date of this Agreement,
                  unless Executive consents to the relocation or transfer.

6.    ARBITRATION. At either party's request, the parties must submit any
      dispute, controversy or claim arising out of or in connection with, or
      relating to, this Agreement or any breach or alleged breach of this
      Agreement, to arbitration under the American Arbitration Association's
      rules then in effect (or under any other form of arbitration mutually
      acceptable to the parties). A single arbitrator agreed on by the parties
      will conduct the arbitration. If the parties cannot agree on a single
      arbitrator, each party must select one arbitrator and those two
      arbitrators will select a third arbitrator. This third arbitrator will
      hear the dispute. The arbitrator's decision is final (except as otherwise
      specifically provided by law) and binds the parties, and either party may
      request any court having jurisdiction to enter a judgment and to enforce
      the arbitrator's decision. The arbitrator will provide the parties with a
      written decision naming the substantially prevailing party in the action.
      This prevailing party is entitled to reimbursement from the other party
      for its costs and expenses, including reasonable attorneys' fees. All
      proceedings will be held at a place designated by the arbitrator in Clark
      County, Nevada. The arbitrator, in rendering a decision as to any state
      law claims, will apply Nevada law.

7.    WITHHOLDING. All payments required to be made by the Bank hereunder to
      Executive shall be subject to the withholding of such amounts, if any,
      relating to tax and other payroll deductions as the Bank may reasonably
      determine should be withheld pursuant to any applicable law or regulation.

8.    OTHER COMPENSATION AND TERMS OF EMPLOYMENT. This Agreement is not an
      employment agreement. Accordingly, except with respect to the Change In
      Control Payment, this Agreement shall have no effect on the determination
      of any compensation payable by the Bank to Executive, or upon any of the
      other terms of Executive's employment with the Bank. The specific
      arrangements referred to herein are not intended to exclude any other
      benefits which may be available to Executive upon a termination of
      employment with the Bank pursuant to employee benefit plans of the Bank or
      otherwise.

9.    MISCELLANEOUS PROVISIONS.

      9.1   Entire Agreement. This Agreement constitutes the entire
            understanding and agreement between the parties concerning its
            subject matter and supersedes all prior agreements, correspondence,
            representations, or understandings between the parties relating to
            its subject matter.

                                       3
<PAGE>

      9.2   Binding Effect. This Agreement will bind and inure to the benefit of
            the Bank's and Executive's heirs, legal representatives, successors
            and assigns.

      9.3   Waiver. Any waiver by a party of its rights under this Agreement
            must be written and signed by the party waiving its rights. A
            party's waiver of the other party's breach of any provision of this
            Agreement will not operate as a waiver of any other breach by the
            breaching party.

      9.4   Amendment. This Agreement may be modified only through a written
            instrument signed by both parties.

      9.5   Severability. The provisions of this Agreement are severable. The
            invalidity of any provision will not affect the validity of other
            provisions of this Agreement.

      9.6   Counsel Review. Executive acknowledges that he has had the
            opportunity to consult with independent counsel with respect to the
            negotiation, preparation, and execution of this Agreement.

      9.7   Governing Law and Venue. This Agreement will be governed by and
            construed in accordance with Nevada law, except to the extent that
            certain matters may be governed by federal law. The parties must
            bring any legal proceeding arising out of this Agreement in Clark
            County, Nevada.

      9.8   Counterparts. This Agreement may be executed in one or more
            counterparts, each of which will be deemed an original, but all of
            which taken together will constitute one and the same document.

      Signed March ___, 2000.

                                             VALLEY BANK

                                             By /s/ Barry Hulin
                                                -------------------------------
                                             Its President and CEO

                                             EXECUTIVE

                                             /s/ Steve Gilbert
                                             -----------------------------------
                                             Steve Gilbert

                                       4

<PAGE>

               AMENDMENT TO CHANGE IN CONTROL SEVERANCE AGREEMENT

This Amendment to Change in Control Severance Agreement ("Amendment") is entered
into by and between VALLEY BANK (the "Bank") and STEVE GILBERT ("Executive") as
of the 23rd day October, 2002.

                                    RECITALS

A.    Executive and the Bank are parties to a Change in Control Severance
      Agreement, dated March 22, 2000 (the "Severance Agreement"), pursuant to
      which Executive is entitled to receive a Change in Control Payment (as
      defined in the Severance Agreement) in connection with a change in control
      of the Bank.

B.    On May 1, 2001, the Bank was reorganized as a wholly owned subsidiary of
      Valley Bancorp ("Bancorp") (the "Reorganization").

C.    In light of the Reorganization, Executive and the Bank wish to amend the
      Severance Agreement to make Bancorp a party to such agreement and to
      clarify that all provisions of the Severance Agreement applicable to the
      Bank are equally applicable to Bancorp.

                                    AGREEMENT

The parties agree as follows:

1.    Application to Bancorp. All references in the Severance Agreement to the
      "Bank" are hereby amended to read "the Bank and/or Valley Bancorp."

2.    Miscellaneous.

      a.    No Other Changes. Except as revised by Section 1 of this Amendment,
            all other terms of the Severance Agreement remain unchanged and
            continue in full force and effect.

      b.    Governing Law. This Amendment is governed by Nevada law.

Effective as of the date first set forth above.

VALLEY BANK                                         EXECUTIVE

By /s/ Robert E. O'Connell                          Steve Gilbert
   -----------------------------------------        ---------------------------
   Robert E. O' Connell                             Steve Gilbert
   Chairman of the Board of Directors

Acknowledged and agreed:

VALLEY BANCORP

By /s/ Robert E. O'Connell
   -----------------------------------------
   Robert E. O'Connell
   Chairman of the Board of Directors

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