Document:

ex_154887.htm

Exhibit 10.5

 

FIRST AMENDMENT TO THE AMENDED AND RESTATED TWO RIVER COMMUNITY BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

 

THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT (this “Amendment”) is made as of August 8, 2019 by and between Two River Community Bank (“TRCB” or “Employer”), a banking corporation organized under the laws of the State of New Jersey, with its principal office at 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724; and William D. Moss (“Executive”), whose business address is 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724.

 

WHEREAS, TRCB and Executive executed an Amended and Restated Supplemental Executive Retirement Agreement (the “Agreement”) dated July 1, 2013; and

 

WHEREAS, Pursuant to Section 8.1 of the Agreement TRCB has reserved to itself the right to amend the Agreement from time to time; and

 

WHEREAS, TRCB wishes to amend the Agreement to revise the definition of Cause.

 

NOW THEREFORE, the Bank determines as follows:

 

Section 5.1 of the Agreement is amended and replaced as follows:

 

	
			5.1

				
			Termination for Cause. Notwithstanding any provision of this Agreement to the contrary, the Participant shall forfeit any right to a benefit under this Agreement if, at any time prior to a Change in Control, the Bank terminates the Participant's service for Cause. Termination of the Participant's service for "Cause" shall mean any of the following acts or circumstances: gross negligence or gross neglect of duties to TRCB; conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the executive’s employment with TRCB; or fraud, disloyalty, dishonesty or willful violation of any law or significant TRCB policy committed in connection with the executive's employment and resulting in a material adverse effect on TRCB.

			

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive hereby execute this Amendment.

 

	
			EXECUTIVE:

			 

			 

			/s/ William D. Moss                

			William D. Moss           

				
			TWO RIVER COMMUNITY BANK

			 

			 

			By: /s/ A. Richard Abrahamian           

			        A. Richard Abrahamianex_154888.htm

Exhibit 10.6

 

THIRD AMENDMENT TO THE TWO RIVER COMMUNITY BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

 

THIS THIRD AMENDMENT TO THE SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT (this “Amendment”) is made as of August 8, 2019 by and between Two River Community Bank (“TRCB” or “Employer”), a banking corporation organized under the laws of the State of New Jersey, with its principal office at 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724; and A. Richard Abrahamian (“Executive”), whose business address is 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724.

 

WHEREAS, TRCB and Executive executed a Supplemental Executive Retirement Agreement (the “Agreement”) dated January 1, 2012; and

 

WHEREAS, Pursuant to Section 8.1 of the Agreement TRCB has reserved to itself the right to amend the Agreement from time to time; and

 

WHEREAS, TRCB and the Executive executed the First Amendment to the Agreement on June 1, 2013; and

 

WHEREAS, TRCB and the Executive executed the Second Amendment to the Agreement on September 30, 2016; and

 

WHEREAS, TRCB wishes to amend the Agreement to revise certain forfeiture provisions.

 

NOW THEREFORE, the Bank determines as follows:

 

Section 1.6 of the Agreement is amended and replaced as follows:

 

	
			1.6

				
			"Cause" means any of the following acts or circumstances: gross negligence or gross neglect of duties to Employer; conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the executive’s employment with Employer; or fraud, disloyalty, dishonesty or willful violation of any law or significant Employer policy committed in connection with the executive's employment and resulting in a material adverse effect on Employer.

			

 

 

Section 2.8 of the Agreement, Termination for Cause, is amended by adding a new sentence to the end of such section which reads:

 

“On and after the date a Change in Control occurs this Section 2.8 shall be null and void.”

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive hereby execute this Amendment.

 

 

	
			EXECUTIVE: 

			 

			 

			/s/ A. Richard Abrahamian                              

			A. Richard Abrahamian                         

				
			TWO RIVER COMMUNITY BANK:

			 

			 

			By: /s/ William D. Moss              

			  William D. Moss, CEOex_154889.htm

Exhibit 10.7

 

SIXTH AMENDMENT TO THE TWO RIVER COMMUNITY BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

 

THIS SIXTH AMENDMENT TO THE SUPPLEMENTAL EXECUTIVE RETIREMENT  AGREEMENT (this “Amendment”) is made as of August 8, 2019 by and between Two River Bancorp (“TRB”), a corporation organized under the laws of the State of New Jersey which serves as a bank holding company, with its principal office at 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724; Two River Community Bank (“TRCB” or “Employer”), a banking corporation organized under the laws of the State of New Jersey which is a wholly owned subsidiary of TRB, with its principal office at 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724; and Alan B. Turner (“Executive”), whose business address is 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724.

 

WHEREAS, TRCB and Executive executed a Supplemental Executive Retirement Agreement (the “Agreement”) dated January 1, 2005, which agreement had an Effective Date of November 1, 2004; and

 

WHEREAS, Pursuant to Section 8.1 of the Agreement TRCB has reserved to itself the right to amend the Agreement from time to time; and

 

WHEREAS, TRCB and the Executive executed the First Amendment to the Agreement during October, 2008; and

 

WHEREAS, TRCB and the Executive executed the Second Amendment to the Agreement on March 1, 2010; and

 

WHEREAS, TRCB and the Executive executed the Third Amendment to the Agreement on June 1, 2010; and

 

WHEREAS, TRCB and the Executive executed the Fourth Amendment to the Agreement on June 1, 2013; and

 

WHEREAS, TRCB and the Executive executed the Fifth Amendment to the Agreement on September 30, 2016; and

 

WHEREAS, TRCB wishes to amend the Agreement to revise the definition of Cause.

 

NOW THEREFORE, the Bank determines as follows:

 

Section 5.1 of the Agreement is amended and replaced as follows:

 

	
			5.1

				
			Termination for Cause. Notwithstanding any provision of this Agreement to the contrary, the Participant shall forfeit any right to a benefit under this Agreement if, at any time prior to a Change in Control, the Bank terminates the Participant's service for Cause. Termination of the Participant's service for "Cause" shall mean any of the following acts or circumstances: gross negligence or gross neglect of duties to TRCB; conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the executive’s employment with TRCB; or fraud, disloyalty, dishonesty or willful violation of any law or significant TRCB policy committed in connection with the executive's employment and resulting in a material adverse effect on TRCB.

			

 

[REMAINDER OF PAGE INTENTIONALLY BLANK]

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive hereby execute this Amendment.

 

	
			EXECUTIVE: 

			 

			 

			/s/ Alan B. Turner                     

			Alan B. Turner                       

				
			TWO RIVER COMMUNITY BANK:

			 

			 

			By:/s/ William D. Moss              

			      William D. Moss, CEOex_154890.htm

Exhibit 10.8

 

FIRST AMENDMENT TO 

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

 

THIS FIRST AMENDMENT TO THE SUPPLEMENTAL EXECUTIVE RETIREMENT  AGREEMENT (this “Amendment”) is made as of August 8, 2019 by and between Two River Bancorp (“TRB”), a corporation organized under the laws of the State of New Jersey which serves as a bank holding company, with its principal office at 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724; Two River Community Bank (“TRCB” or “Employer”), a banking corporation organized under the laws of the State of New Jersey which is a wholly owned subsidiary of TRB, with its principal office at 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724; and Anthony A. Mero (“Executive”), whose business address is 766 Shrewsbury Avenue, Tinton Falls, New Jersey 07724.

 

WHEREAS, TRCB and Executive executed a Supplemental Executive Retirement Agreement (the “Agreement”) dated August 10, 2016; and

 

WHEREAS, Pursuant to Section 6.1 of the Agreement TRCB has reserved to itself the right to amend the Agreement from time to time; and

 

WHEREAS, TRCB wishes to amend the Agreement to revise certain forfeiture provisions.

 

NOW THEREFORE, the Bank determines as follows:

 

Section 1.6 of the Agreement is amended and replaced as follows:

 

	
			1.6

				
			"Cause" means any of the following acts or circumstances: gross negligence or gross neglect of duties to Employer; conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the executive’s employment with Employer; or fraud, disloyalty, dishonesty or willful violation of any law or significant Employer policy committed in connection with the executive's employment and resulting in a material adverse effect on Employer.

			

 

 

Section 2.8 of the Agreement, Termination for Cause, is amended by adding a new sentence to the end of such section which reads:

 

“On and after the date a Change in Control occurs this Section 2.8 shall be null and void.”

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive hereby execute this Amendment.

 

 

	
			EXECUTIVE: 

			 

			 

			/s/ Anthony A. Mero                   

			Anthony A. Mero                       

				
			TWO RIVER COMMUNITY BANK:

			 

			 

			By:/s/ William D. Moss              

			      William D. Moss, CEO

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