Document:

ex_329792.htm

Exhibit 10.1

 

PLUMAS BANK

 

SALARY CONTINUATION AGREEMENT

 

ANDREW J. RYBACK

 

WHEREAS, Plumas Bank (hereinafter "Employer") established the Plumas Bank Executive Salary Continuation Agreement originally effective August 23, 2005, with an Amended and Restated Executive Salary Continuation Agreement, effective December 17, 2008 (hereinafter "Agreement"), for Andrew J. Ryback (hereinafter "Executive"); and

 

WHEREAS, the Employer's intention is to have the Agreement comply with Internal Revenue Code Section 409A (hereinafter "IRC 409A) and provide certain benefits to the Executive in the form of supplemental retirement deferred compensation payments which shall commence upon the certain events within the Executive's Agreement; and

 

WHEREAS, the Employer now wishes to amend the Agreement to increase the supplemental retirement deferred compensation annual benefit, which is in line with the desires of the Employer and the associated Employer's Board of Directors as it relates to the benefit provided for within the Agreement; and

 

WHEREAS, Article 15, Amendment, Section 15.10, Amendments, of the Agreement provides the Bank with the authority to amend and modify the Agreement with the consent of the Executive, evidenced through their execution of such amendment.

 

NOW THEREFORE, the Employer, pursuant to the authority within the Agreement and consent of the Executive, does hereby amend the Agreement as follows:

 

Article 1, Terms and Definitions, Section 1.02, Annual Benefit, is hereby deleted in its entirety and revised to read as follows:

 

"1.02 Annual Benefit. The term "Annual Benefit" shall mean an annual sum of one hundred forty thousand dollars ($140,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI). "

 

IN WITNESS WHEREOF, the Bank has executed this Amendment on the 1st day of February 2022.

 

Plumas Bank                           

 

By: /s/ Richard Belstock                                                               

 

Richard Belstock, Executive Vice President and Chief Financial Officer                   

 

Date: 2/1/2022

 

Andrew J. Ryback                           

 

By: /s/ Andrew Ryback                                                               

 

Title: President and Chief Executive Officer                   

 

Date: 2/1/2022ex_329793.htm

Exhibit 10.2

 

2022 AMENDMENT

PLUMAS BANK 

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

FOR Richard Belstock 

 

WHEREAS, Plumas Bank (hereinafter referred to as “Bank”) established the Plumas Bank Supplemental Executive Retirement Agreement (hereinafter referred to as “Agreement”) for a select group of Bank employees representing a select group of management or highly compensated employees with an effective date of April 1, 2016; and

 

WHEREAS, the Agreement provides for the participation of Richard Belstock (hereinafter referred to as "Executive"); and

 

WHEREAS, the Agreement provides certain benefits to the Executive, or the Executive Executive's beneficiary (ies) as applicable, in the form of a supplemental retirement benefit payment which shall occur upon certain events provided for within the Agreement and pursuant to the Executive’s participation in the Agreement; and

 

WHEREAS, the Bank and the Executive now wish to amend the Agreement by increasing the “Amount of Benefit” provided for within Table A of the Agreement which is in line with the desires of the Bank, the Executive and the associated Bank's Board of Directors; and

 

WHEREAS, Article 9, Amendments and Termination, subsection 8.1, Amendments, of the Agreement document provides for the modification of the Agreement through the execution of an amendment by the Bank and the Executive; and

 

WHEREAS, it is the intent of the Bank and the Executive to amend the Agreement pursuant to the authority granted in Article 9 of the Agreement and evidenced by the Bank and Executive’s execution below.

 

NOW THEREFORE, for good and valuable consideration, the sufficiency of which shall not be questioned, the Bank and the Executive do hereby amend the Agreement as follows:

 

1)         Table A, Retirement Benefit, “Annual benefit equal to $54,000 per year (“Annual Benefit”)” within column titled Amount of Benefit, is deleted in its entirety, and replaced with the following:

 

“Annual Benefit equal to $88,500 per year (“Annual Benefit”).”

 

2)         All other provisions of the Agreement shall remain in full force and in effect as presently written.

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive have acknowledged they have carefully read this 2022 Amendment and has executed an original on this the 1st day of February 2022, to be immediately effective upon the execution herein below.

 

Plumas Bank                           

 

By: /s/ Andrew Ryback                                                               

 

Andrew Ryback, President and Chief Executive Officer                   

 

Date: 2/1/2022

 

Richard Belstock                           

 

By: /s/ Richard Belstock                                                               

 

Title: Executive Vice President and Chief Financial Officer                   

 

Date: 2/1/2022ex_329794.htm

Exhibit 10.3

 

2022 AMENDMENT

PLUMAS BANK 

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

FOR BJ North 

 

WHEREAS, Plumas Bank (hereinafter referred to as “Bank”) established the Plumas Bank Supplemental Executive Retirement Agreement (hereinafter referred to as “Agreement”) for a select group of Bank employees representing a select group of management or highly compensated employees with an effective date of April 1, 2016; and

 

WHEREAS, the Agreement provides for the participation of BJ North (hereinafter referred to as "Executive"); and

 

WHEREAS, the Agreement provides certain benefits to the Executive, or the Executive Executive's beneficiary (ies) as applicable, in the form of a supplemental retirement benefit payment which shall occur upon certain events provided for within the Agreement and pursuant to the Executive’s participation in the Agreement; and

 

WHEREAS, the Bank and the Executive now wish to amend the Agreement by increasing the “Amount of Benefit” provided for within Table A of the Agreement which is in line with the desires of the Bank, the Executive and the associated Bank's Board of Directors; and

 

WHEREAS, Article 9, Amendments and Termination, subsection 8.1, Amendments, of the Agreement document provides for the modification of the Agreement through the execution of an amendment by the Bank and the Executive; and

 

WHEREAS, it is the intent of the Bank and the Executive to amend the Agreement pursuant to the authority granted in Article 9 of the Agreement and evidenced by the Bank and Executive’s execution below.

 

NOW THEREFORE, for good and valuable consideration, the sufficiency of which shall not be questioned, the Bank and the Executive do hereby amend the Agreement as follows:

 

1)         Table A, Retirement Benefit, “Annual benefit equal to $48,000 per year (“Annual Benefit”)” within column titled Amount of Benefit, is deleted in its entirety, and replaced with the following:

 

“Annual Benefit equal to $82,500 per year (“Annual Benefit”).”

 

2)         All other provisions of the Agreement shall remain in full force and in effect as presently written.

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive have acknowledged they have carefully read this 2022 Amendment and has executed an original on this the 1st day of February 2022, to be immediately effective upon the execution herein below.

 

Plumas Bank                           

 

By: /s/ Andrew Ryback                                                               

 

Andrew Ryback, President and Chief Executive Officer                   

 

2/1/2022

 

BJ North                           

 

By: /s/ BJ North                                                               

 

Title: Executive Vice President and Chief Banking Officer                   

 

2/1/2022ex_329795.htm

Exhibit 10.4

 

2022 AMENDMENT

PLUMAS BANK 

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

FOR Jeffery Moore 

 

WHEREAS, Plumas Bank (hereinafter referred to as “Bank”) established the Plumas Bank Supplemental Executive Retirement Agreement (hereinafter referred to as “Agreement”) for a select group of Bank employees representing a select group of management or highly compensated employees with an effective date of April 1, 2020 and

 

WHEREAS, the Agreement provides for the participation of Jeff Moore (hereinafter referred to as "Executive"); and

 

WHEREAS, the Agreement provides certain benefits to the Executive, or the Executive Executive's beneficiary (ies) as applicable, in the form of a supplemental retirement benefit payment which shall occur upon certain events provided for within the Agreement and pursuant to the Executive’s participation in the Agreement; and

 

WHEREAS, the Bank and the Executive now wish to amend the Agreement by increasing the “Amount of Benefit” provided for within Table A of the Agreement which is in line with the desires of the Bank, the Executive and the associated Bank's Board of Directors; and

 

WHEREAS, Article 9, Amendments and Termination, subsection 8.1, Amendments, of the Agreement document provides for the modification of the Agreement through the execution of an amendment by the Bank and the Executive; and

 

WHEREAS, it is the intent of the Bank and the Executive to amend the Agreement pursuant to the authority granted in Article 9 of the Agreement and evidenced by the Bank and Executive’s execution below.

 

NOW THEREFORE, for good and valuable consideration, the sufficiency of which shall not be questioned, the Bank and the Executive do hereby amend the Agreement as follows:

 

1)         Table A, Retirement Benefit, “Annual benefit equal to $65,000 per year (“Annual Benefit”)” within column titled Amount of Benefit, is deleted in its entirety, and replaced with the following:

 

“Annual Benefit equal to $80,000 per year (“Annual Benefit”).”

 

2)         All other provisions of the Agreement shall remain in full force and in effect as presently written.

 

 

 

 

IN WITNESS WHEREOF, the Bank and the Executive have acknowledged they have carefully read this 2022 Amendment and has executed an original on this the 1st day of February 2022, to be immediately effective upon the execution herein below.

 

Plumas Bank                           

 

By: /s/ Andrew Ryback                                                               

 

Andrew Ryback, President and Chief Executive Officer                   

 

Date: 2/1/2022

 

Jeffery Moore                           

 

By: /s/ Jeffery Moore                                                               

 

Title: Title: Executive Vice President and Chief Credit Officer                   

 

Date: 2/1/2022

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