Attached files
| file | filename |
|---|---|
| 8-K - TRUSTCO BANK CORP NY 8-K 11-17-2009 - TRUSTCO BANK CORP N Y | form8k.htm |
| EX-99.2 - EXHIBIT 99.2 - TRUSTCO BANK CORP N Y | ex99_2.htm |
|
TRUSTCO
|
|
|
Bank
Corp NY
|
Exhibit
99.1
|
|
5
Sarnowski Drive, Glenville, New York, 12302
|
|
|
(518)
377-3311 Fax: (518) 381-3668
|
|
|
Subsidiary: Trustco
Bank
|
NASDAQ
-- TRST
|
AMENDMENT
NO. 1
TO
SECOND
AMENDED AND RESTATED
TRUSTCO
BANK EXECUTIVE OFFICER INCENTIVE PLAN
WHEREAS,
Trustco Bank (the “Bank”) maintains the Trustco Bank Executive Officer Incentive
Plan, as amended and restated in the Second Amended and Restated Trustco Bank
Executive Officer Incentive Plan dated January 1, 2008 (the “Plan”);
and
WHEREAS,
the Plan was frozen after the 2008 Plan Year; and
WHEREAS,
the Bank desires to amend said Plan, effective as of January 1, 2010 and to
continue the frozen status of the Plan, until such time as the Plan is
reinstated by action of the Board of Directors.
NOW,
THEREFORE, the Bank does hereby amend the Plan, effective as of January 1, 2010,
as follows:
|
|
1.
|
Section
1.14. Section 1.14 of the Plan is hereby deleted and the
following is substituted in lieu
thereof:
|
|
|
Section
1.14. “Return on Equity” means Net Income divided by Total
Shareholder Equity minus any equity transaction directly in conjunction
with a merger or acquisition.
|
IN
WITNESS WHEREOF, the Bank has caused this Amendment No. 1 to be executed by its
duly authorized officer as of the 17th day
of November, 2009.
|
ATTEST:
|
||||
|
TRUSTCO
BANK
|
||||
|
/S/ Robert M. Leonard
|
By:
|
/S/ Robert J. McCormick
|
||
|
Secretary
|
||||
|
Title:
|
Chairman, President and CEO
|
|||
- 5 -