Director Retirement Agreement Sample Contracts

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FIRST AMENDMENT TO THE FIRST UNITED SECURITY BANK DIRECTOR RETIREMENT AGREEMENT DATED OCTOBER 17, 2002 FOR
Director Retirement Agreement • March 16th, 2009 • United Security Bancshares Inc • State commercial banks

THIS FIRST AMENDMENT is adopted this 20th day of November, 2008, effective as of January 1, 2005, by and among United Security Bancshares, Inc., a Delaware corporation (“USB”), First United Security Bank, a state-chartered commercial bank located in Thomasville, Alabama (“FUSB”) (USB and FUSB collectively are referred to herein as the “Company”), and R. TERRY PHILLIPS (the “Director”).

CAROLINA BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • June 5th, 2008 • Carolina Bank Holdings Inc • State commercial banks • North Carolina

This DIRECTOR RETIREMENT AGREEMENT (this “Agreement”) is entered into as of this 30th day of May, 2008, by and between Carolina Bank, a North Carolina-chartered bank (the “Bank”), and Kenneth C. Mayer, Jr., a director of the Bank (the “Director”).

FIRST AMENDED AND RESTATED SANTA LUCIA BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 30th, 2009 • Santa Lucia Bancorp • State commercial banks • California

This First Amended and Restated Santa Lucia Bank Director Retirement Agreement (hereinafter “Agreement”) is made and entered into, and is effective as of January 1, 2008, by and between Santa Lucia Bank, a bank organized and existing under the laws of the state of California (hereinafter the “Bank”) and Jean Hawkins, a Director of the Bank (hereinafter “Director” or “Participant”);

THE OHIO VALLEY BANK COMPANY THIRD AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 24th, 2021 • Ohio Valley Banc Corp • State commercial banks • Ohio

This THIRD AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT (this “Agreement”) is adopted this 18th day of December, 2012 by and between THE OHIO VALLEY BANK COMPANY, a state-chartered commercial bank located in Gallipolis, Ohio (the “Company”), and Thomas E. Wiseman (the “Director”). This Agreement amends and restates the prior Second Amended and Restated Director Retirement Agreement between the Company and the Director dated December 28, 2007 (the “2007 Amendment”) which amended and restated the prior Amended and Restated Director Retirement Agreement between the Company and the Director dated January 13, 2004 (the “2004 Agreement”).

PLUMAS BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • August 9th, 2023 • Plumas Bancorp • Short-term business credit institutions • California

17th day of May, 2023, by and between PLUMAS BANK, a California corporation located in Quincy, California (the “Company”) and RICHARD KENNY (the “Director”). The purpose of this Agreement is to provide specified benefits to the Director who contributes to the continued growth, development, and future business success of the Company.

FIRST AMENDMENT TO THE ORRSTOWN BANK DIRECTOR RETIREMENT AGREEMENT DATED OCTOBER 1, 1998 FOR JEFFREY W. COY
Director Retirement Agreement • March 15th, 2010 • Orrstown Financial Services Inc • State commercial banks

THIS FIRST AMENDMENT is adopted this 22nd day of March, 2007, effective as of January 1, 2005, by and between Orrstown Bank, a state commercial bank located in Orrstown, Pennsylvania (the “Company”), and Jeffrey W. Coy (the “Director”).

PEOPLES FEDERAL SAVINGS BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 17th, 2010 • Peoples Federal Bancshares, Inc. • Massachusetts

THIS DIRECTOR RETIREMENT AGREEMENT (the “Agreement”) is adopted this 29th day of November, 2004, by and between PEOPLES FEDERAL SAVINGS BANK, a federally-chartered corporation located in Boston, Massachusetts (the “Bank”), and MAURICE H. SULLIVAN, JR, (the “Director”).

HAMPDEN BANK AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • November 9th, 2015 • Berkshire Hills Bancorp Inc • Savings institutions, not federally chartered • Massachusetts

This AMENDED & RESTATED DIRECTOR RETIREMENT AGREEMENT (this “Agreement”) is adopted this 29th day of July, 2008 by and between HAMPDEN BANK, a state- savings bank located in Springfield, Massachusetts (the “Bank”), and Richard Suski (the “Director”). This Agreement amends and restates the prior Amended and Restated Director Supplemental Retirement Plan Agreement between the Bank and the Director dated January 1, 2008 (the “Prior Agreement”). The parties intend this amended and restated Agreement to be a material modification of the Prior Agreement such that all amounts earned and vested prior to December 31, 2004 shall be subject to the provisions of Code Section 409A.

BUTTE COMMUNITY BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • August 14th, 2002 • Community Valley Bancorp • Blank checks • California

This Director Retirement Agreement (Agreement) is entered into by and between Butte Community Bank (Bank), a state commercial bank located in Paradise, California, and James Rickards (Director), to be effective as of April 14, 1998.

BANK OF THE SIERRA DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 15th, 2006 • Sierra Bancorp • National commercial banks • California

THIS AGREEMENT is adopted this 1st day of October, 2002, by and between BANK OF THE SIERRA, a state-chartered commercial bank located in Porterville, California (the “Company”), and GORDON WOODS (the “Director”).

AMENDMENT TO THE MERCER SAVINGS BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • April 25th, 2023 • Mercer Bancorp, Inc. • Savings institutions, not federally chartered

THIS AMENDMENT to the Director Retirement Agreement (the “Agreement”) is entered into by and between Mercer Savings Bank, a savings association located in Celina, Ohio (the “Bank”) and Kristin Fee (the “Director”), on this 18th day of April 2023.

BANK OF THE SIERRA DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 15th, 2006 • Sierra Bancorp • National commercial banks • California

THIS AGREEMENT is adopted this 1st day of October, 2002, by and between BANK OF THE SIERRA, a state-chartered commercial bank located in Porterville, California (the “Company”), and ROBERT TIENKEN (the “Director”).

MERCER SAVINGS BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 10th, 2023 • Mercer Bancorp, Inc. • Ohio

THIS DIRECTOR RETIREMENT AGREEMENT (the “Agreement”) is adopted this 20th day of May, 2014, by and between Mercer Savings Bank, a savings association located in Celina, Ohio (the “Bank”) and David L. Keiser (the “Director”).

CAPE SAVINGS BANK AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • September 19th, 2007 • Cape Bancorp, Inc. • New Jersey

THIS DIRECTOR RETIREMENT AGREEMENT (the “Agreement”) originally entered into on the 26th day of December, 2000, by and between CAPE SAVINGS BANK, a state savings bank located in Cape May Court House, New Jersey (the “Company”) and (the “Director”), is hereby amended and restated on this day of , 2006, and shall be effective as of January 1, 2005.

Cortland Bancorp Amended Director Retirement Agreement
Director Retirement Agreement • March 17th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Amended Director Retirement Agreement (this “Agreement”) is entered into as of this 18th day of December, 2007, by and between Cortland Bancorp (the “Company”), a bank holding company located in Cortland, Ohio, and James E. Hoffman III, a director of the Company (the “Director”).

AMENDMENT TO THE MERCER SAVINGS BANK DIRECTOR RETIREMENT
Director Retirement Agreement • March 10th, 2023 • Mercer Bancorp, Inc.

THIS AMENDMENT to the Director Retirement Agreement (the “Agreement”) is entered into by and between Mercer Savings Bank, a savings association located in Celina, Ohio (the “Bank”) and [Name] (the “Director”), on this day of 2023.

FAIRFIELD COUNTY BANK CORP DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 15th, 2010 • Fairfield County Bank Corp. • Connecticut

THIS AGREEMENT is made this day of , by and between FAIRFIELD COUNTY BANK CORP., a Connecticut mutual savings bank located in Ridgefield, Connecticut (the “Bank”), and (the “Director”). This Agreement is an amendment and restatement of an Agreement originally entered into .

FIRST AMENDMENT TO THE ORRSTOWN BANK DIRECTOR RETIREMENT AGREEMENT DATED OCTOBER 1, 2002 FOR GLENN W. SNOKE
Director Retirement Agreement • March 15th, 2010 • Orrstown Financial Services Inc • State commercial banks

THIS FIRST AMENDMENT is adopted this 24th day of April, 2007, effective as of January 1, 2005, by and between Orrstown Bank, a state commercial bank located in Orrstown, Pennsylvania (the “Company”), and Glenn W. Snoke (the “Director”).

DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • February 27th, 2015 • Independent Bank Corp • State commercial banks • Massachusetts

This Second Amendment (the "Amendment") to the Director Retirement Agreement, dated as of November 29, 2004 and as amended December 16, 2008 (the "Agreement"), by and among Peoples Federal Savings Bank (the "Bank") and Maurice H. Sullivan, Jr. (the "Director") is effective as of March 1, 2011. Capitalized terms which are not defined herein shall have the same meaning as set forth in the Agreement.

SECOND AMENDMENT TO THE MCINTOSH STATE BANK DIRECTOR RETIREMENT AGREEMENT DATED DECEMBER 19, 2002 AND AMENDED JANUARY 9, 2007 FOR JOHN L. CARTER
Director Retirement Agreement • December 1st, 2008 • McIntosh Bancshares Inc /Ga/ • State commercial banks

THIS SECOND AMENDMENT is adopted this 30th day of November, 2008, by and between MCINTOSH STATE BANK, a state-chartered commercial bank located in Jackson, Georgia (the “Company”), and JOHN L. CARTER (the “Director”).

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FIRST AMENDMENT TO PLUMAS BANK DIRECTOR RETIREMENT AGREEMENT Steven M. Coldani
Director Retirement Agreement • August 9th, 2023 • Plumas Bancorp • Short-term business credit institutions

WHEREAS, The Plumas Bank (hereinafter referred to as “Company”) established the Plumas Bank Director Retirement Agreement (hereinafter referred to as “Agreement”) for a select group of Company directors representing a select group of management; and

FIRST AMENDMENT TO THE ORRSTOWN BANK DIRECTOR RETIREMENT AGREEMENT DATED OCTOBER 1, 1998 FOR ANTHONY F. CEDDIA
Director Retirement Agreement • March 15th, 2010 • Orrstown Financial Services Inc • State commercial banks

THIS FIRST AMENDMENT is adopted this 22nd day of March, 2007, effective as of January 1, 2005, by and between Orrstown Bank, a state commercial bank located in Orrstown, Pennsylvania (the “Company”), and Anthony F. Ceddia (the “Director”).

FIRST AMENDMENT TO THE ORRSTOWN BANK DIRECTOR RETIREMENT AGREEMENT DATED OCTOBER 1, 1998 FOR KENNETH R. SHOEMAKER
Director Retirement Agreement • March 15th, 2010 • Orrstown Financial Services Inc • State commercial banks

THIS FIRST AMENDMENT is adopted this 22nd day of March, 2007, effective as of January 1, 2005, by and between Orrstown Bank, a state commercial bank located in Orrstown, Pennsylvania (the “Company”), and Kenneth R. Shoemaker (the “Director”).

ESB BANK AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • November 21st, 2007 • Esb Financial Corp • Savings institution, federally chartered • Pennsylvania

THIS AMENDED AND RESTATED AGREEMENT is made and entered into this 20th day of November 2007, by and between ESB Bank (the “Bank”), a wholly-owned subsidiary of ESB Financial Corporation (the “Corporation”), located in Ellwood City, Pennsylvania, and ________________ (the “Director”), intending to be legally bound hereby.

FIRST AMENDMENT TO THE PLUMAS BANK AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT DATED MAY 10, 2000 FOR DANIEL E. WEST
Director Retirement Agreement • September 25th, 2007 • Plumas Bancorp • Short-term business credit institutions

THIS FIRST AMENDMENT is adopted this 19th day of September, 2007, effective as of January 1, 2005, by and between Plumas Bank, located in Quincy, California (the “Company”) and Daniel E. West (the “Director”).

FIRST UNITED SECURITY BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 30th, 2012 • United Security Bancshares Inc • State commercial banks • Alabama

THIS DIRECTOR RETIREMENT AGREEMENT (“Agreement”) is made and entered into this 30th day of November, 2011, between First United Security Bank, a bank located in Thomasville, Alabama (“FUSB”), United Security Bancshares, Inc. (“USB”) (FUSB and USB are collectively referred to herein as the “Company”), and J. Lee McPhearson (“Director”).

MERCER SAVINGS BANK DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • March 10th, 2023 • Mercer Bancorp, Inc. • Ohio

THIS DIRECTOR RETIREMENT AGREEMENT (the “Agreement”) is adopted this 10th day of October, 2006, by and between Mercer Savings Bank, a savings association located in Celina, Ohio (the “Bank”) and Richard A. Mosier (the “Director”).

BANK’34 DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • April 18th, 2014 • Alamogordo Financial Corp • Savings institution, federally chartered • New Mexico

This DIRECTOR RETIREMENT AGREEMENT (this “Agreement”) is entered into this 1st day of February, 2010, by and between BANK’34, a federally-chartered savings and loan located in Alamogordo, New Mexico (the “Bank”), and (the “Director”).

DIRECTOR RETIREMENT AGREEMENT
Director Retirement Agreement • September 3rd, 2020 • Babcock & Wilcox Enterprises, Inc. • Heating equipment, except electric & warm air furnaces • Delaware

This Director Retirement Agreement (this “Agreement”) is made as of September ___, 2020 by and among Babcock & Wilcox Enterprises, Inc., a Delaware corporation (the “Company”), and [●] (“Retiring Director”).

SECOND AMENDMENT TO THE MCINTOSH STATE BANK DIRECTOR RETIREMENT AGREEMENT DATED DECEMBER 19, 2002 AND AMENDED JANUARY 9, 2007 FOR
Director Retirement Agreement • December 1st, 2008 • McIntosh Bancshares Inc /Ga/ • State commercial banks

THIS SECOND AMENDMENT is adopted this 30th day of November, 2008, by and between MCINTOSH STATE BANK, a state-chartered commercial bank located in Jackson, Georgia (the “Company”), and KEITH D. FORTSON (the “Director”).

FIRST AMENDMENT TO THE ORRSTOWN BANK DIRECTOR RETIREMENT AGREEMENT DATED OCTOBER 1, 2002 FOR JOHN S. WARD
Director Retirement Agreement • March 15th, 2010 • Orrstown Financial Services Inc • State commercial banks

THIS FIRST AMENDMENT is adopted this 22nd day of March, 2007, effective as of January 1, 2005, by and between Orrstown Bank, a state commercial bank located in Orrstown, Pennsylvania (the “Company”), and John S. Ward (the “Director”).

SECOND AMENDMENT TO PLUMAS BANK AMENDED AND RESTATED DIRECTOR RETIREMENT AGREEMENT Terrance J. Reeson
Director Retirement Agreement • August 9th, 2023 • Plumas Bancorp • Short-term business credit institutions

WHEREAS, The Plumas Bank (hereinafter referred to as “Company”) established the Plumas Bank Amended and Restated Director Retirement Agreement (hereinafter referred to as “Agreement”) for a select group of Company directors representing a select group of management; and

The following form of agreement was executed by The Ohio Valley Bank Company and each of the following directors on the dates indicated beside their names:
Director Retirement Agreement • March 16th, 2018 • Ohio Valley Banc Corp • State commercial banks

THIS AGREEMENT is made this ______ day of December, 2016, by and between THE OHIO VALLEY BANK COMPANY located in Gallipolis, Ohio (the "Company"), and ______________ (the "Director").

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