Exhibit
10.1
Amendment to the Executive Employment Agreement of
[NAME OF EXECUTIVE]
THIS AMENDMENT to the employment agreement between [NAME OF
EXECUTIVE] (the "Executive") and First Citizens National Bank
and First Citizens Bancshares, Inc. (collectively referred to
herein as the "Company") dated ___________ (the "Agreement") is
entered into on this _____ day of ________________, 2008;
W
I T N E S S E T H:
WHEREAS , the Company and the Executive entered into the
Agreement for the employment of the Executive as [TITLE]
;
WHEREAS , the terms of the Agreement provide for certain
split dollar life insurance benefits for the Executive;
WHEREAS, the Agreement may be amended by a writing that is
executed by the parties; and
WHEREAS, the Company and the Executive desire to amend the
Agreement to incorporate Executive's participation in the Split
Dollar Plan maintained by the Company;
NOW, THEREFORE , in consideration of the foregoing and of
the promises and mutual agreements set forth below, and other good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto do hereby agree as
follows:
I. Section 5
of the Agreement is hereby amended by restating Section 5(g) as
follows and deleting Section 5(h):
(g) Life Insurance.
During the term of this Agreement, the E
