Document:

Exhibit
10.70

SIXTH
AMENDMENT

TO THE

SANTA
LUCIA BANK

SALARY
CONTINUATION AGREEMENT

DATED
FEBRUARY 1, 1997

FOR

LARRY H.
PUTNAM

THIS AMENDMENT is
adopted and effective this 12th day of April, 2007, by and between SANTA LUCIA
BANK, a California state-chartered bank located in Atascadero, California (the “Company”)
and LARRY H. PUTNAM (the “Executive”).

The Company and
the Executive executed the SANTA LUCIA BANK SALARY CONTINUATION AGREEMENT on
February 1, 1997; the FIRST AMENDMENT TO THE SANTA LUCIA BANK SALARY
CONTINUATION AGREEMENT DATED FEBRUARY 1, 1997 FOR LARRY PUTNAM effective
February 3, 1998; the SECOND AMENDMENT TO THE SANTA LUCIA BANK SALARY
CONTINUATION AGREEMENT DATED FEBRUARY 1, 1997 FOR LARRY PUTNAM effective April
15, 1998; the AMENDMENT TO THE SANTA LUCIA BANK SALARY CONTINUATION AGREEMENT
DATED FEBRUARY 1, 1997 effective January 10, 2001; the AMENDMENT TO THE SANTA
LUCIA BANK SALARY CONTINUATION AGREEMENT (THE DEFERRAL AMENDMENT) effective
August 1, 2003; and the AMENDMENT TO THE SANTA LUCIA BANK SALARY CONTINUATION
AGREEMENT DATED FEBRUARY 1, 1997 effective December 1, 2003; collectively, (the
“Agreement”).

Under the terms of
Article 8, the undersigned hereby amend, in part, said Agreement for the
purpose of increasing the Normal Retirement Benefit amount.  Therefore:

Section
2.1.1 of the Agreement shall be deleted in its entirety and replaced by the new
Sections 2.1.1 as follows:

2.1.1                        Amount of Benefit. 
The annual benefit under Section 2.1 is Fifty-Six Thousand Dollars
($56,000).

To
the extent this Sixth Amendment is a “material modification” under IRC 409A of
the Code, the undersigned hereby expressly acknowledge that “grandfathering”
protection afforded by the American Jobs Creation Act and I.R.C. § 409A may no
longer be available.  Also, to the extent necessary, the Agreement, as
amended, shall be administered in “good faith compliance” with Notice 2005-1
and I.R.C. § 409A, subject to future regulatory guidance.

IN
WITNESS OF THE ABOVE, the Executive and the Company hereby
consent to this Sixth Amendment.

	
  EXECUTIVE:

  	
  SANTA LUCIA BANK

  	
   

  
	
  /S/ Larry H.
  Putnam

  	
   

  	
  By:

  	
   

  	
   

  
	
  Larry
  H. Putnam

  	
   

  	
  Title:Exhibit
10.71

FOURTH
AMENDMENT

TO THE

SANTA
LUCIA BANK

SALARY
CONTINUATION AGREEMENT

DATED
APRIL 15, 1998

FOR

JOHN C.
HANSEN

THIS AMENDMENT is
adopted and effective this 12th day of April, 2007, by and between SANTA LUCIA
BANK, a California state-chartered bank located in Atascadero, California (the “Company”)
and JOHN C. HANSEN (the “Executive”).

The Company and
the Executive executed the SANTA LUCIA BANK SALARY CONTINUATION AGREEMENT on
April 15, 1998; the AMENDMENT TO THE SANTA LUCIA BANK SALARY CONTINUATION
AGREEMENT DATED FEBRUARY 1, 1997 [sic] effective January 10, 2001; the
AMENDMENT TO THE SANTA LUCIA BANK SALARY CONTINUATION AGREEMENT (THE DEFERRAL
AMENDMENT) effective August 1, 2003; and the AMENDMENT TO THE SANTA LUCIA BANK
SALARY CONTINUATION AGREEMENT DATED APRIL 15, 1998 effective December 1, 2003;
collectively, (the “Agreement”).

Under the terms of
Article 8, the undersigned hereby amend, in part, said Agreement for the
purpose of increasing the Normal Retirement Benefit amount.  Therefore:

Section
2.1.1 of the Agreement shall be deleted in its entirety and replaced by the new
Sections 2.1.1 as follows:

2.1.1                        Amount of Benefit. 
The annual benefit under Section 2.1 is Thirty Thousand Dollars
($30,000) for each year from the Normal Retirement Date until the Executive
attains age seventy (70) and then Seventy-Five Thousand Dollars ($75,000) for
each year thereafter.

To
the extent this Fourth Amendment is a “material modification” under IRC 409A of
the Code, the undersigned hereby expressly acknowledge that “grandfathering”
protection afforded by the American Jobs Creation Act and I.R.C. § 409A may no
longer be available.  Also, to the extent necessary, the Agreement, as
amended, shall be administered in “good faith compliance” with Notice 2005-1
and I.R.C. § 409A, subject to future regulatory guidance.

IN
WITNESS OF THE ABOVE, the Executive and the Company hereby
consent to this Fourth Amendment.

	
  EXECUTIVE:

  	
  SANTA LUCIA BANK

  	
   

  
	
   

  	
   

  
	
  /S/ John C.
  Hansen

  	
   

  	
  By:

  	
   

  	
   

  
	
  John C.
  Hansen

  	
   

  	
  Title:Exhibit
10.72

FIRST
AMENDMENT

TO THE

SANTA
LUCIA BANK

SALARY
CONTINUATION AGREEMENT

DATED MAY
22, 2001

FOR

WILLIAM
F. FILIPPIN

THIS AMENDMENT is
adopted this 12th day of April, 2007, by and between SANTA LUCIA BANK, a
California state-chartered bank located in Atascadero, California (the “Company”)
and WILLIAM F. FILIPPIN (the “Executive”).

The Company and
the Executive executed the SANTA LUCIA BANK SALARY CONTINUATION AGREEMENT on
May 22, 2001 (the “Agreement”).

Under the terms of
Article 5, the undersigned hereby amend, in part, said Agreement for the
purpose of increasing the Normal Retirement Benefit amount.  Therefore:

Section
2.1.1 of the Agreement shall be deleted in its entirety and replaced by the new
Sections 2.1.1 as follows:

2.1.1                        Amount of Benefit. 
The annual benefit under Section 2.1 is Fifty Thousand Dollars
($50,000).  Schedule A shall be adjusted
accordingly.

To
the extent this First Amendment is a “material modification” under IRC 409A of
the Code, the undersigned hereby expressly acknowledge that “grandfathering”
protection afforded by the American Jobs Creation Act and I.R.C. § 409A may no
longer be available.  Also, to the extent necessary, the Agreement, as
amended, shall be administered in “good faith compliance” with Notice 2005-1
and I.R.C. § 409A, subject to future regulatory guidance.

IN
WITNESS OF THE ABOVE, the Executive and the Company hereby
consent to this First Amendment.

	
  EXECUTIVE:

  	
  SANTA LUCIA BANK

  	
   

  
	
   

  	
   

  
	
  /S/ William F.
  Filippin

  	
   

  	
  By:

  	
   

  	
   

  
	
  William F. Filippin

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:Exhibit
10.1

FRIENDLY ICE CREAM
CORPORATION

Restricted Stock
Agreement

Granted Under 2003 Incentive Plan

AGREEMENT entered into as
of the [     ] day of [        ,
      ,] between Friendly Ice Cream Corporation,
a Massachusetts corporation (the “Company”), and
[                          ]
(the “Participant”).

WHEREAS,
the Company maintains the Friendly Ice Cream Corporation 2003 Incentive Plan,
as amended (the “Plan”), which is incorporated into and forms a part of this
Agreement.

WHEREAS,
the Participant has been awarded shares of Common Stock, $0.01 par value, of
the Company (the “Common Stock”).

WHEREAS,
the shares of Common Stock to be issued to the Participant are subject to the
restrictions set forth herein.

NOW,
THEREFORE, for valuable consideration, receipt of which is acknowledged, the
parties hereto agree as follows:

1.             Issuance of Shares.

On the date hereof, the
Company is issuing an aggregate of
[           shares] of Common
Stock to the Participant (the “Shares”), which Shares are evidenced by one or
more stock certificates in the name of the Participant.  25% of the Shares are fully vested and free
of all the restrictions set forth herein. 
The Participant agrees that the Unvested Shares (as defined below) shall
be subject to forfeiture to the Company in accordance with Section 2 of this
Agreement and the restrictions on transfer set forth in Section 3 of this
Agreement.  Shares that are not Unvested
Shares shall be transferred by the Company to the Participant free of the
restrictions set forth in this Agreement.

Capitalized terms not
otherwise defined herein shall have the meanings ascribed thereto in the Plan.

2.             Forfeiture of Unvested Shares.

(a)           In
the event that the Participant ceases to be employed by the Company for any
reason or no reason, with or without cause, prior to February 28, 2010, the
Participant shall forfeit to the Company, for no consideration, all of then
outstanding Unvested Shares, and the Participant shall have no further rights
with respect to such Unvested Shares.

(b)           Subject to paragraph 2(c) below, “Unvested
Shares” means the total number of Shares multiplied by the Applicable
Percentage.  Except as set forth in
paragraph 2(c) below, the “Applicable Percentage” shall be:

(i) 75%
during the period from the date hereof through February 27, 2008;

 

(ii) 50% from
and after February 28, 2008 and through February 27, 2009;

(iii) 25% from and
after February 28, 2009 and through February 27, 2010; and

(iv) zero on
or after February 28, 2010.

(c)           Upon the occurrence of a Change in
Control (as defined and provided in the Plan), the Applicable Percentage shall
be zero.

3.             Restrictions on Unvested Shares.

(a)           The
Participant shall not sell, assign, transfer, pledge, hypothecate or otherwise
dispose of, by operation of law or otherwise (collectively “transfer”) any
Unvested Shares, or any interest therein.

(b)           The
Participant shall be treated as a shareholder (including for purposes of voting
rights) with respect to the Unvested Shares.

4.             Restrictive Legends.

All certificates
representing Unvested Shares shall have affixed thereto legends in
substantially the following form, in addition to any other legends that may be
required under federal or state securities laws:

“The shares of stock represented by this certificate
are subject to restrictions on transfer set forth in a certain Restricted Stock
Agreement between the corporation and the registered owner of these shares (or
his predecessor in interest), and such Agreement is available for inspection
without charge at the office of the Secretary of the corporation.”

5.             Provisions of the Plan.

This Agreement is
subject to the provisions of the Plan, a copy of which is furnished to the
Participant with this Agreement.

6.             Withholding Taxes; Section 83(b)
Election.

(a)           The
Participant acknowledges and agrees that the Company has the right to deduct
from payments of any kind otherwise due to the Participant any federal, state
or local taxes of any kind required by law to be withheld with respect to the
award of the Shares or the lapse of the vesting restrictions contained herein.

(b)           The
Participant acknowledges that he has been informed of the availability of
making an election in accordance with Section 83(b) of the Internal
Revenue Code of 1986, as amended and has been advised to seek, and has sought,
the counsel of his own tax advisor as to whether, where and how to make such
election; that such election must be filed with the Internal 

 2
 

 

Revenue Service within 30 days of the transfer of the Shares to the
Participant; and that the Participant is solely responsible for making such
election and that he must notify the Company upon making such election.

7.             Agreement Not Contract of
Employment.

This Agreement does not
constitute a contract of employment, and does not give the Participant the
right to be retained in the employ of the Company or an affiliate thereof.

8.             Severability.

The invalidity or
unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement, and each other
provision of this Agreement shall be severable and enforceable to the extent
permitted by law.

9.             Waiver.

Any provision for the
benefit of the Company contained in this Agreement may be waived, either
generally or in any particular instance, by the Board of Directors of the
Company.

10.           Binding Effect.

This Agreement
shall be binding upon and inure to the benefit of the Company and the
Participant and their respective heirs, executors, administrators, legal
representatives, successors and assigns, subject to the restrictions on
transfer set forth in Section 3 of this Agreement.

11.           Notice.

All notices required or
permitted hereunder shall be in writing and deemed effectively given upon
personal delivery or five days after deposit in the United States Post Office,
by registered or certified mail, postage prepaid, addressed to the other party
hereto at the address shown beneath his or its respective signature to this
Agreement, or at such other address or addresses as either party shall
designate to the other in accordance with this Section 10.

12.           Pronouns.

Whenever the context may
require, any pronouns used in this Agreement shall include the corresponding
masculine, feminine or neuter forms, and the singular form of nouns and
pronouns shall include the plural, and vice versa.

13.           Entire Agreement.

This Agreement and the
Plan constitute the entire agreement between the parties, and supersedes all
prior agreements and understandings, relating to the subject matter of this
Agreement.

 3
 

 

14.           Amendment.

The Board of Directors of
the Company may, at any time, amend or terminate the Plan, and may amend this
Agreement, provided that no amendment or termination may adversely affect the
rights of the Participant without the Participant’s written consent.

15.           Governing Law.

This Agreement shall be
construed, interpreted and enforced in accordance with the internal laws of the
Commonwealth of Massachusetts without regard to any applicable conflicts of
laws.

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the day and year first above
written.

	
  

  	
  FRIENDLY ICE CREAM

  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  1855 Boston Road,

  Wilbraham, MA 01095

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [Name of Participant]

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  
					

 

 4

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