Contract
10.6
Data Processing Services
Agreement, Contract Modification and Addendums dated December 30, 2003 between
New Commerce BanCorp and
▇▇▇▇ ▇▇▇▇▇ & Associates, Inc.
Exhibit 10.6
▇▇▇▇ ▇▇▇▇▇
CONTRACT MODIFICATION
& ASSOCIATES INC. [logo]
DATE: December 30, 2003
OFFICE ADDRESS:
▇▇▇▇ ▇▇▇▇▇ & ASSOCIATES, INC.
▇▇▇ ▇▇▇▇▇▇▇ ▇▇ • P. O. ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
NAME AND ADDRESS OF
CLIENT:
NEW COMMERCE BANK, NATIONAL ASSOCIATION
▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇
▇▇▇▇▇▇▇▇▇▇,
▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
WHEREAS, ▇▇▇▇ ▇▇▇▇▇ & ASSOCIATES, INC. (▇▇▇) entered into a Data Processing Services Agreement (Agreement) dated December 30, 2003, with NEW COMMERCE BANK, NATIONAL ASSOCIATION (Client).
NOW THEREFORE, ▇▇▇ and Client mutually contract and agree that said Agreement is modified as follows:
1. The “DATA PROCESSING SERVICES AGREEMENT” is changed and modified as follows:
A. In Section “2. TERM OF AGREEMENT”:
1. In the first subparagraph revise the first sentence to read as follows:
| “The original term of this agreement shall be for five (5) years with a commencement date of May 17, 2004.” |
2. Following the last subparagraph add the following paragraph:
| “After ▇▇▇ has processed Client under this Agreement for thirty-six (36) months, Client may a) license ▇▇▇ CIF 20/20™ in-house core processing software and item processing software at the then current standard ▇▇▇ list price, b) contract with ▇▇▇ for installation services relating thereto, and c) purchase from ▇▇▇ all necessary hardware for operating same. If Client has performed the foregoing in its entirety and given ▇▇▇ at least a six (6) month advance written notice of its intention to move in-house following the aforesaid thirty-six (36) month period of processing then ▇▇▇ will permit this Agreement to be terminated without an early termination fee and no deconversion costs. Client shall treat the foregoing as a matter of the strictest confidentiality as provided for under this Agreement.” |
In witness whereof, the parties have caused this CONTRACT MODIFICATION to be executed by their duly authorized representatives.
| ▇▇▇: | Client: | |
| ▇▇▇▇ ▇▇▇▇▇ & ASSOCIATES, INC. | NEW COMMERCE BANK, NATIONAL ASSOCIATION | |
| By: /s/ ▇▇▇▇ ▇▇▇▇ | By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ , | |
| ▇▇▇▇ ▇▇▇▇ | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |
| Print/Type Name | Print/Type Name | |
| Title: President | Title: President & CEO | |
| Date: January 2, 2004 | Date: December 31, 2003 |