SEC Contract Filing

Filing Date: 2024-03-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>3
<FILENAME>ex_615138.htm
<DESCRIPTION>EXHIBIT 10.8
<TEXT>
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<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.8</b></font></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;"><b>SECOND AMENDMENT TO</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;"><b>EMPLOYMENT AGREEMENT</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;">This Second Amendment, dated as of December 1, 2023 (the &#8220;Amendment&#8221;), amends the Employment Agreement (&#8220;Employment Agreement&#8221;), dated effective as of January 1, 2018 (the &#8220;Effective Date&#8221;), by and between The First of Long Island Corporation (the &#8220;<u>Company</u>&#8221;),&nbsp;The First National Bank of Long Island&nbsp;(the&nbsp;&#8220;<u>Bank</u>&#8221;; and together with the Company, &#8220;<u>FLIC</u>&#8221;)&nbsp;and&nbsp; Christopher J. Hilton, a resident of New York (&#8220;Executive&#8221;).&nbsp; Capitalized terms which are not defined herein shall have the same meaning as set forth in the Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;">W I T N E S S E T H:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;"><b>WHEREAS,</b> the Executive is currently employed under the Employment Agreement as Executive Vice President; and</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;"><b>WHEREAS,</b> effective December 1, 2023 (the &#8220;Amendment Effective Date&#8221;), the Executive&#8217;s position, title and responsibilities is Senior Executive Vice President of FLIC and he will continue as the Chief Lending Officer of the Bank; and</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;"><b>WHEREAS,</b> the parties have agreed to amend the Agreement to reflect the Executive&#8217;s current positions, title and responsibilities; and&nbsp;</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;"><b>WHEREAS,</b> pursuant to Section 9 of the Agreement, the parties to the Agreement desire to amend the Agreement.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;"><b>NOW, THEREFORE,</b> in consideration of the premises, the mutual agreements herein set forth and such other consideration the sufficiency of which is hereby acknowledged, the Company, Bank and the Executive hereby agree as follows:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;">Section 1.&nbsp; <u>Amendment to the Agreement</u>.&nbsp; Notwithstanding anything in the Agreement to the contrary, as of the Amendment Effective Date, all references in the Agreement to &#8220;Executive Vice President of FLIC&#8221; are hereby amended and replaced with &#8220;Senior Executive Vice President of FLIC and Chief Lending Officer of the Bank.&#8221;</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 17pt; text-indent: 27pt;">Section 2.&nbsp; <u>