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:
EXHIBIT 10.16
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:
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Name
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Date of Agreement
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Xxxxx X. Xxxxxx
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December 20, 2016
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Xxxxxx X. Xxxxxxx
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December 13, 2016
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Xxxx X. Xxxxxxx
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December 13, 2016
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Xxxxx X. Xxxxxxxx
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December 13, 2016
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2016 DETERMINATION OF DIRECTOR’S FEES
FOR PURPOSES OF THE DIRECTOR DEFERRED FEE AGREEMENT
FOR _____________
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”).
The Company and the Director entered into a DEFERRED FEE AGREEMENT most recently amended on ___________ (the “Agreement”).
The Director agrees that the definition of “Fees” in Section 1.10 be amended to read as follows effective for deferrals on or after January
1, 2017:
1.10 “Fees” means the total annual board retainer and monthly fees paid to all directors, earned by the Director during a Plan Year. For
purposes of clarity, Fees does not include any lead director fees, committee meeting or chair fees or other special director fees.
The parties, by executing this Agreement hereby agree to the terms stated herein.
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DIRECTOR:
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THE OHIO VALLEY BANK COMPANY
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By:
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Title:
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