Group Term Carve-Out Plan Sample Contracts

FIRST AMENDMENT TO THE SALISBURY BANK AND TRUST COMPANY GROUP TERM CARVE-OUT PLAN WITH RESPECT TO JOHN F. PEROTTI
Group Term Carve-Out Plan • June 5th, 2009 • Salisbury Bancorp Inc • Savings institution, federally chartered
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FIRST FARMERS & MERCHANTS BANK GROUP TERM CARVE-OUT PLAN
Group Term Carve-Out Plan • March 13th, 2009 • First Farmers & Merchants Corp • State commercial banks • Tennessee

THIS PLAN, hereby made effective this 27th day of March, 2007 (the “Effective Date”), by and between First Farmers and Merchants Bank, state-chartered bank located in Columbia; Tennessee (the “Bank”), and the Participant (the “Participant”) selected to participate in this Plan, intending, to be legally bound hereby.

Athens Federal Community Bank Amended Group Term Carve Out Plan This Plan
Group Term Carve Out Plan • September 17th, 2009 • Athens Bancshares Corp • Tennessee

This Plan is adopted this 31st day of December, 2008, by and between the ATHENS FEDERAL COMMUNITY BANK, a savings association located in Athens, Tennessee (the “Company”) and the Participant selected to participate in this Plan (the “Participant”).

INTRODUCTION
Group Term Carve-Out Plan • March 24th, 2003 • Emclaire Financial Corp • National commercial banks • Pennsylvania
THE BEVERLY NATIONAL BANK GROUP TERM CARVE OUT PLAN
Group Term Carve Out Plan • March 29th, 2005 • Beverly National Corp • National commercial banks • Massachusetts

THIS PLAN is adopted this 18th day of June, 2004, by and between THE BEVERLY NATIONAL BANK, nationally-chartered commercial bank located in Beverly, Massachusetts (the “Company”) and the Participant selected to participate in this Plan (the “Participant”).

THE CORTLAND SAVINGS AND BANKING COMPANY AMENDED AND RESTATED GROUP TERM CARVE OUT PLAN
Group Term Carve Out Plan • November 3rd, 2014 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

To attract and retain highly qualified employees, effective February 23, 2001 the Bank implemented a Group Term Carve Out Plan providing for division of the death proceeds of life insurance policies owned by the Bank on the lives of the participating employees, with a portion of the death proceeds being paid to a participating employee’s designated beneficiary and the remainder being paid to the Bank, and with the Bank paying the life insurance premiums from its general assets. This Amended Group Term Carve Out Plan amends and restates the Group Term Carve Out Plan in its entirety effective as of the date written above.

WAYNE SAVINGS COMMUNITY BANK GROUP TERM CARVE-OUT PLAN FOR SENIOR VICE PRESIDENT AND ABOVE
Group Term Carve-Out Plan • May 10th, 2013 • Wayne Savings Bancshares Inc /De/ • Savings institution, federally chartered • Ohio

THIS PLAN, hereby made effective this 27th day of November 2002 (the "Effective Date"), by and between Wayne Savings Community Bank, a state-chartered savings and loan association located in Wooster, Ohio (the "Bank"), and the Participant (the "Participant") selected to participate in this Plan, intending to be legally bound hereby.

UNIZAN BANK, NATIONAL ASSOCIATION AMENDED GROUP TERM CARVE OUT PLAN
Group Term Carve Out Plan • March 12th, 2004 • Unizan Financial Corp • National commercial banks • Ohio

THE GROUP TERM CARVE OUT PLAN entered into as of the 1st day of May, 2001, by and between the United National Bank & Trust Company, an OCC-chartered, FDIC-insured national bank with its main offices in Canton, Ohio, and each of the Participants selected to participate in the Group Term Carve Out Plan (each a “Participant”) is hereby amended and restated as of this 19th day of June, 2003. As amended and restated, this Amended Group Term Carve Out Plan is hereinafter referred to as the “Plan.”

THE LA PORTE SAVINGS BANK GROUP TERM CARVE OUT PLAN
Group Term Carve Out Plan • June 5th, 2007 • LaPorte Bancorp, Inc. • Indiana

THIS PLAN is made and entered into this 1st day of January, 2003, by and between THE LA PORTE SAVINGS BANK, a state-chartered savings bank located in La Porte, Indiana (the “Company”) and the Participant selected to participate in this Plan (the “Participant”).

YADKIN VALLEY BANK AND TRUST COMPANY 2007 GROUP TERM CARVE OUT PLAN
Group Term Carve Out Plan • March 31st, 2008 • Yadkin Valley Financial Corp • State commercial banks • North Carolina

This 2007 Group Term Carve Out Plan is made and entered into this 31st day of December, 2007, by and between Yadkin Valley Bank and Trust Company, a North Carolina-chartered commercial bank located in Elkin, North Carolina (the “Company”), and the participant selected to participate in this Plan (the “Participant”).

LAUREL SAVINGS BANK AMENDED AND RESTATED GROUP TERM CARVE-OUT PLAN
Group Term Carve-Out Plan • July 26th, 2006 • Laurel Capital Group Inc • Savings institutions, not federally chartered • Pennsylvania

THIS AMENDED AND RESTATED PLAN (this “Plan”) is hereby made effective this 20th day of July 2006 (the “Effective Date”), by and between Laurel Savings Bank, a state-chartered savings bank located in Allison Park, Pennsylvania (the “Bank”), and the Participant (the “Participant”) selected to participate in this Plan, intending to be legally bound hereby.

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