SEC Contract Filing

Filing Date: 2018-06-29

Document Content:
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<TYPE>EX-10.06
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<FILENAME>bkgmf-ex1006_149.htm
<DESCRIPTION>EX-10.06
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;letter-spacing:0pt;font-weight:bold;font-family:Times New Roman;letter-spacing:-0.15pt;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.06</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;letter-spacing:0pt;font-weight:bold;font-family:Times New Roman;letter-spacing:-0.15pt;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">SECOND AGREEMENT TO EXTEND EMPLOYMENT AGREEMENT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Agreement to Extend Employment Agreement is made as of the 26<sup style="font-size:85%; vertical-align:top">th</sup> day of March, 2018 by and between <font style="font-weight:bold;">LOURDES A. LEON GUERRERO </font>(&#8220;President and CEO&#8221;) and <font style="font-weight:bold;">BANK&#160;OF&#160;GUAM&#160;</font>(&#8220;Bank&#8221;);</p>
<p style="text-align:center;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">WITNESSETH:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:12pt;font-style:normal;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, </font><font style="font-weight:normal;text-transform:none;">the President and CEO and the Bank executed an Employment Agreement on May 1, 2013 which Agreement expired on December 31, 2017 and was further extended to April&#160;30, 2018 (&#8220;Agreement&#8221;);</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, it is in the best interest of the parties to mutually extend the Agreement to December 31, 2018.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">NOW THEREFORE<font style="font-weight:normal;">, said Agreement is hereby amended as follows:</font></p>
<p style="margin-top:12pt;text-align:justify;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Section 2 of the Agreement shall be amended to state that the Agreement shall terminate on December&#160;31, 2018.</p>
<p style="margin-top:12pt;text-align:justify;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Except as otherwise stated herein all other terms and conditions of the Agreement remain unchanged.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executed at Hagatna, Guam on the date first above written.</p>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">BY:</p></td>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Martin D. Leon Guerrero, Asst. Secretary</p></td>
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