Plumas Bancorp (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   February 20, 2008

Plumas Bancorp
__________________________________________
(Exact name of registrant as specified in its charter)

     
California 000-49883 95-3520374
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(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
35 S. Lindan Avenue, Quincy, California   95971
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (530)283-7305

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 20, 2008, the Board of Directors of Plumas Bancorp authorized the Company to enter into a salary continuation agreement with Monetta R. Dembosz. The purpose of the salary continuation agreement is to provide special incentive to Ms. Dembosz to continue employment with the Company on a long-term basis. The agreement will provide Ms. Dembosz with salary continuation benefits of up to $62,000 per year for 15 years after retirement at age 65. If Ms. Dembosz terminates employment with the Company for a reason other than death or disability prior to the retirement age of age 65, she will be entitled to salary continuation benefits at a reduced amount depending on her length of service with the Company.





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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Plumas Bancorp
          
February 26, 2008   By:   Andrew J. Ryback
       
        Name: Andrew J. Ryback
        Title: Executive Vice President/Chief Financial Officer