# EDGAR Filing Document

**Accession Number:** 0001463913
**File Stem:** 0001437749-23-000628
**Filing Date:** 2023-1
**Character Count:** 9172
**Document Hash:** d0cedf51a2a2cc0fd3c59c47cef5fa67
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-000628.hdr.sgml**: 20230106

**ACCESSION NUMBER**: 0001437749-23-000628

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230101

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230106

**DATE AS OF CHANGE**: 20230106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** US Alliance Corp
- **CENTRAL INDEX KEY:** 0001463913
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]
- **IRS NUMBER:** 264824142
- **STATE OF INCORPORATION:** KS
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55627
- **FILM NUMBER:** 23514803

**BUSINESS ADDRESS:**
- **STREET 1:** 4123 SW GAGE CENTER DRIVE
- **STREET 2:** SUITE 240
- **CITY:** TOPEKA
- **STATE:** KS
- **ZIP:** 66604
- **BUSINESS PHONE:** 816-460-5807

**MAIL ADDRESS:**
- **STREET 1:** 4123 SW GAGE CENTER DRIVE
- **STREET 2:** SUITE 240
- **CITY:** TOPEKA
- **STATE:** KS
- **ZIP:** 66604

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** U. S. Alliance Corp
- **DATE OF NAME CHANGE:** 20090512

usac20230106_8k.htm

**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) **January 1, 2023**

**US ALLIANCE CORPORATION**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Kansas** | **000-55627** | **26-4824142** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

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**103 SW First American Pl, Suite 200**

**Topeka**, **Kansas 66604**

(Address of principal executive offices) (Zip Code)

**(**785**) **228-0200**

(Registrant's telephone number, including area code)

**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 (see General Instruction A.2. below):

☐ 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))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| None | N/A | N/A |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§203.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.1b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(s) of the Exchange Act. ☐

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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.** 

*Amendment to Employment Agreement with Jack Brier*

Effective January 1, 2023, US Alliance Corporation (the "Company") entered into an amendment (the "2022 Amendment") to the Employment Agreement dated September 28, 2021 (the "Employment Agreement") with Jack Brier, the President and Chief Executive Officer of the Company and of its subsidiaries, US Alliance Life and Security Company, US Alliance Investment Corporation, US Alliance Marketing Corporation, Us Alliance Life and Security Company – Montana, and Dakota Capital Life Insurance Company. Pursuant to the terms of the 2022 Amendment, Mr. Brier's base salary was increased to $262,500, and the term of the Employment Agreement was extended by an additional year. The terms of the 2022 Amendment were recommended and approved by the Compensation Committee of the Company's Board of Directors, which also recommended that Mr. Brier be paid a bonus of $40,000.

Except as provided in the 2022 Amendment, all of the terms of the Employment Agreement remain unchanged and in full force and effect.

The foregoing description is qualified in its entirety by reference to the 2022 Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by this reference.

**ITEM 9.01. EXHIBITS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

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| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Exhibit</u> |
| 10.1 | [Amendment to Employment Agreement effective January 1, 2023.](ex_461627.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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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.

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| | | |
|:---|:---|:---|
|  | **US ALLIANCE CORPORATION** | **US ALLIANCE CORPORATION** |
| January 6, 2023 | By: | /s/ Jack H. Brier |
|  |  | Jack H. Brier<br> President and Chairman |

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## Exhibit 10.1

**Exhibit 10.1**

**AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT**

**THIS AMENDMENT NO. 1** (this "<u>Amendment</u>"), effective as of January 1, 2023, is entered into by and among by and between Jack H. Brier (the "<u>Executive</u>") and US Alliance corporation, a Kansas corporation (the "<u>Employer</u>").

**WHEREAS**, the Employer and the Executive are parties to that certain Employment Agreement dated as of September 28, 2021 (the "<u>Employment Agreement</u>"), pursuant to which the Executive serves as President, Chairman, and/or Chief Executive of each Employer, USALSC, DCL, USALSC- Montana, USAIC, and USAMC, as more specifically set forth in the Employment Agreement;

**WHEREAS**, the Compensation Committee of the Employer (the "<u>Compensation Committee</u>") has recommended, and the Board of Directors of the Employer (the "<u>Board</u>") has approved, an extension of the Employment Agreement for an additional term of one year beyond the Termination Date set forth in the Employment Agreement, in accordance with Section 5 of the Employment Agreement;

**WHEREAS**, Compensation Committee has further recommended, and the Board has approved, an increase in the Executive's Base Salary;

**WHEREAS**, capitalized terms used but not defined in this Amendment have the meanings assigned to them in the Employment Agreement

**NOW, THEREFORE**, in consideration of the terms and conditions contained herein, the parties hereto hereby agree as follows:

1. <u>Amendment of the Employment Agreement</u>. The Employment Agreement is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section 3.A. of the Employment Agreement is hereby amended to increase the Executive's annual Base Salary to $262,500 subject to applicable withholding and authorized deductions, which shall be paid in equal installments, in accordance with the usual and customary payroll practices of the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Section 5 of the Employment Agreement is hereby amended to extend the Termination Date to September 30, 2025, subject further extension by the Board in accordance with the terms of the Employment Agreement.

2. <u>Effect Upon the Employment Agreement</u>. This Amendment will form a part of the Employment Agreement for all purposes, and the Employment Agreement and this Amendment will be read together. Except as specifically amended above, the Employment Agreement shall remain in full force and effect in accordance with its terms and each of the parties hereby ratifies and re-affirms their respective agreements, covenants and obligations hereunder and thereunder.

3. <u>Counterparts</u>. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. A facsimile or digital copy of a signature hereto shall be fully effective as if an original.

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| US Alliance Corporation | US Alliance Corporation |
| By: | /s/ William Graves |
| William Graves, Compensation Committee Chairman | William Graves, Compensation Committee Chairman |
| **EXECUTIVE:** | **EXECUTIVE:** |
| /s/ Jack H. Brier | /s/ Jack H. Brier |
| Jack H. Brier | Jack H. Brier |

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