This Addendum or Modifications involves
Title: FIRST AMENDMENT TO PREMIERWEST BANK SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT (SERP)
Industry: Regional Banks Sector: Financial
FIRST AMENDMENT TO
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT
This First Amendment dated April 24, 2008 (this “Amendment”), amends the Supplemental Executive Retirement Plan Agreement (SERP) by and between PremierWest Bancorp (“Bancorp”), PremierWest Bank (“Bank”, and together with Bancorp, “Company”) and Tom Anderson (the “Executive”) dated December 13, 2007 (the “Agreement”).
The parties discovered a typographical error in the Agreement
related to the timing of
commencement of Early Retirement payments.
B. The parties desire to correct the error and amend the Agreement to conform to the initial
understanding of the parties.
2.2.2 is amended in its entirety to read:
“2.2.2 Payment of Benefit . The payment of the benefits under this Section shall
begin on the later of: (i) six months after Termination of Employment or (ii) Normal