Document:

Salary Continuation agreement entered into with Mr. Muckley

 EXHIBIT 10.1 
  
 CONSUMERS NATIONAL BANK 
 Salary Continuation Agreement 
  
 CONSUMERS NATIONAL BANK 
 SALARY
CONTINUATION AGREEMENT 
  
 THIS SALARY CONTINUATION AGREEMENT
(the “Agreement”) is adopted this 1st day of March, 2005, by and between Consumers National Bank, a nationally-chartered commercial bank located in Minerva, Ohio (“Bank”) and STEVE MUCKLEY (the “Executive”). The purpose
of this Agreement is to provide specified benefits to the Executive, a member of a select group of management or highly compensated employees who contribute materially to the continued growth, development, and future business success of the Bank.
This Agreement shall be unfunded for tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended from time to time. 
  
 Article 1 
 Definitions 
  
 Whenever used in this Agreement,
the following words and phrases shall have the meanings specified: 
  

	1.1	“Accrual Balance” means the liability that should be accrued by the Bank, under Generally Accepted Accounting Principles (“GAAP”), for the Bank’s
obligation to the Executive under this Agreement, by applying Accounting Principles Board Opinion Number 12 (“APB 12”) as amended by Statement of Financial Accounting Standards Number 106 (“FAS 106”) and the Discount Rate. Any
one of a variety of amortization methods may be used to determine the Accrual Balance. However, once chosen, the method must be consistently applied. The Accrual Balance shall be reported annually by the Bank to the Executive.

  

	1.2	“Beneficiary” means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive determined
pursuant to Article 4. 

  

	1.3	“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan
Administrator to designate one or more Beneficiaries. 

  

	1.4	“Board” means the Board of Directors of the Bank as from time to time constituted. 

  

	1.5	“Change in Control” means a change in the ownership or effective control of the Bank, or in the ownership of a substantial portion of the assets of the Bank, as
such change is defined 

  

	 	(i)	in Section 280G of the Code and regulations thereunder; or 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	 	(ii)	if more restrictive, in Section 409A of the Code and regulations thereunder. 

  

	1.6	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	1.7	“Disability” means Executive (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which
can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Bank. Medical determination of Disability
may be made by either the Social Security Administration or by the provider of an accident or health plan covering employees of the Bank. Upon the request of the Plan Administrator, the Executive must submit proof to the Plan Administrator of Social
Security Administration’s or the provider’s determination. 

  

	1.8	“Discount Rate” means the rate used by the Plan Administrator for determining the Accrual Balance. The initial Discount Rate is six percent (6%). However, the Plan
Administrator, in its discretion, may adjust the Discount Rate to maintain the rate within reasonable standards according to GAAP and/or applicable bank regulatory guidance. 

  

	1.9	“Early Termination” means Separation from Service before Normal Retirement Age for reasons other than death, Disability, Termination for Cause, Constructive
Separation from Service or within twelve (12) months following a Change in Control. 

  

	1.10	“Effective Date” means March 1, 2005. 

  

	1.11	“Final Pay” means the average of the reported total pay (W-2 compensation) paid to the Executive by the Company for the last three (3) full calendar years prior to
Normal Retirement Age. 

  

	1.12	“Normal Retirement Age” means the Executive attaining age sixty-five (65). 

  

	1.13	“Plan Administrator” means the plan administrator described in Article 6. 

  

	1.14	“Plan Year” means each twelve-month period commencing on January 1 and ending on December 31 of each year. The initial Plan Year shall commence on the Effective
Date of this Plan and end on the following December 31. 

  

	1.15	 “Separation from Service” means that the Executive’s service, as an employee and independent contractor, to the Bank and any member of a
controlled group as defined in 

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 Salary Continuation Agreement 
  

	 	 
Section 414 of the Code to which the Bank belongs, has terminated for any reason, other than by reason of a leave of absence approved by the Bank or the
death of the Executive. 

  

	1.16	“Termination for Cause” has that meaning set forth in Article 5. 

  
 Article 2 
 Distributions During Lifetime 
  

	2.1	Normal Retirement Benefit. Upon the Executive reaching Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.1 in lieu of
any other benefit under this Article. 

  

	 	2.1.1	Amount of Benefit. The annual benefit under this Section 2.1 is fifty-three percent (53%) of Final Pay, as defined in Article 1.11, at the Normal Retirement Date. 

  

	 	2.1.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month
following the Executive’s Normal Retirement Age. The annual benefit shall be distributed to the Executive for fifteen (15) years. 

  

	2.2	Early Termination Benefit. Upon the Executive’s Early Termination, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any
other benefit under this Article. 

  

	 	2.2.1	Amount of Benefit. The benefit under this Section 2.2 is the vested Accrual Balance determined as of the month preceding Separation from Service. This benefit is
determined by vesting the Executive in 6.67 percent (6.67%) of the Accrual Balance for the Plan Year in which the Executive attains age fifty (50), and an additional 6.67 percent (6.67%) of said amount for each succeeding year thereafter until the
Executive becomes one hundred percent (100%) vested in the Accrual Balance. 

  

	 	2.2.2	Distribution of Benefit. The Bank shall distribute the benefit to the Executive in One Hundred Eighty (180) consecutive equal installments commencing within thirty
(30) days following the Executive’s Separation from Service. 

  

	2.3	Disability Benefit. If the Executive’s Disability results in Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the
Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Article. 

  

	 	2.3.1	Amount of Benefit. The benefit under this Section 2.3 is one hundred percent (100%) of the Accrual Balance determined as of the end of the month preceding
Separation from Service. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	 	2.3.2	Distribution of Benefit. The Bank shall distribute the benefit to the Executive in One Hundred Eighty (180) consecutive equal installments commencing within thirty
(30) days following Separation of Service due to Disability. 

  

	2.4	Change in Control Benefit. Upon a Change in Control followed within twelve (12) months by the Executive’s Separation from Service, the Bank shall distribute to
the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article. 

  

	 	2.4.1	Amount of Benefit. The benefit under this Section 2.4 is one hundred percent (100%) of the Accrual Balance determined as of the end of the month preceding
Separation from Service. 

  

	 	2.4.2	Distribution of Benefit. The Bank shall distribute the benefit to the Executive in a lump sum within sixty (60) days following the Separation from Service.

  

	 	2.4.3	Parachute Payments. Notwithstanding any provision of this Agreement to the contrary, to the extent any distribution(s), if made, under this Section 2.4 would be treated as an
“excess parachute payment” under Section 280G of the Code, the Bank shall reduce or delay the distribution(s) to the extent it would not be an excess parachute payment. 

  

	2.5	Restriction on Timing of Distribution. Notwithstanding any provision of this Agreement to the contrary, if the Bank is publicly-traded on an established exchange or
otherwise, and if the Executive is considered a “key employee,” as defined in Section 416(i) of the Code, distribution under Sections 2.2, 2.4 or Article 8 may not commence earlier than six (6) months after the date of Separation from
Service. 

  
 Article 3 
 Distribution at Death 
  

	3.1	Death During Active Service. If the Executive dies while in the active service to the Bank, the Bank shall distribute to the Beneficiary the benefit described in this Section
3.1. This benefit shall be distributed in lieu of the benefits under Article 2. 

  

	 	3.1.1	Amount of Benefit. The benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1. 

  

	 	3.1.2	Distribution of Benefit. The Bank shall distribute the annual benefit to the Beneficiary in twelve (12) equal monthly installments commencing within sixty (60) days following
receipt by the Bank of the Executive’s death certificate. The annual benefit shall be distributed to the Beneficiary for a period of fifteen (15) years. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	3.2	Death During Distribution of a Benefit. If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions,
the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived. 

  

	3.3	Death After Separation from Service But Before Benefit Distributions Commence. If the Executive is entitled to benefit distributions under this Agreement, but
dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30)
days following receipt by the Bank of the Executive’s death certificate. 

  
 Article 4 
 Beneficiaries 
  

	4.1	Beneficiary. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefit distributions under this Agreement to a Beneficiary upon
the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other plan of the Bank in which the Executive participates. 

  

	4.2	Beneficiary Designation: Change; Spousal Consent. The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to
the Plan Administrator or its designated agent. If the Executive names someone other than his or her spouse as a Beneficiary, a spousal consent, in the form designated by the Plan Administrator, must be signed by the Executive’s spouse and
returned to the Plan Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently
dissolved. The Executive shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to
time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form
filed by the Executive and accepted by the Plan Administrator prior to the Executive’s death. 

  

	4.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or
its designated agent. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	4.4	No Beneficiary Designation. If the Executive dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Executive, then the
Executive’s spouse shall be the designated Beneficiary. If the Executive has no surviving spouse, the benefits shall be made to the personal representative of the Executive’s estate. 

  

	4.5	Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent, or to a
person incapable of handling the disposition of that person’s property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person
or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the
Executive and the Executive’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Agreement for such distribution amount. 

  
 Article 5 
 General Limitations 
  

	5.1	Termination for Cause. Notwithstanding any provision of this Agreement to the contrary, the Bank shall not distribute any benefit under this Agreement if Executive’s
service is terminated by the Board for: 

  

	 	(a)	Gross negligence or gross neglect of duties to the Bank; or 

  

	 	(b)	Conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the Executive’s employment with the Bank; or 

  

	 	(c)	Fraud, disloyalty, dishonesty or willful violation of any law or significant Bank policy committed in connection with the Executive’s employment and resulting in a material
adverse effect on the Bank. 

  

	5.2	Suicide or Misstatement. No benefits shall be distributed if the Executive commits suicide within two years after the Effective Date of this Agreement, or if an insurance
company which issued a life insurance policy covering the Executive and owned by the Bank denies coverage (i) for material misstatements of fact made by the Executive on an application for such life insurance, or (ii) for any other reason.

  

	5.3	Removal. Notwithstanding any provision of this Agreement to the contrary, the Bank shall not distribute any benefit under this Agreement if the Executive is subject to
a final removal or prohibition order issued by an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

 Article 6 
 Administration of Agreement 
  

	6.1	Plan Administrator Duties. This Agreement shall be administered by a Plan Administrator which shall consist of the Board, or such committee or person(s) as the Board shall
appoint. The Plan Administrator shall also have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Agreement and (ii) decide or resolve any and all questions
including interpretations of this Agreement, as may arise in connection with the Agreement. 

  

	6.2	Agents. In the administration of this Agreement, the Plan Administrator may employ agents and delegate to them such administrative duties as it sees fit, (including acting
through a duly appointed representative), and may from time to time consult with counsel who may be counsel to the Bank. 

  

	6.3	Binding Effect of Decisions. The decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration,
interpretation and application of the Agreement and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Agreement. 

  

	6.4	Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless the members of the Plan Administrator against any and all claims, losses, damages, expenses or
liabilities arising from any action or failure to act with respect to this Agreement, except in the case of willful misconduct by the Plan Administrator or any of its members. 

  

	6.5	Bank Information. To enable the Plan Administrator to perform its functions, the Bank shall supply full and timely information to the Plan Administrator on all matters
relating to the date and circumstances of the retirement, Disability, death, or Separation from Service of the Executive, and such other pertinent information as the Plan Administrator may reasonably require. 

  

	6.6	Annual Statement. The Plan Administrator shall provide to the Executive, within one hundred twenty (120) days after the end of each Plan Year, a statement setting forth the
benefits to be distributed under this Agreement. 

  
 Article 7 
 Claims and Review Procedures 
  

	7.1	Claims Procedure. An Executive or Beneficiary (“claimant”) who has not received benefits under the Agreement that he or she believes should be distributed shall
make a claim for such benefits as follows: 

  

	 	7.1.1	Initiation – Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	 	7.1.2	Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within 90 days after receiving the claim. If the Plan Administrator
determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 90 days by notifying the claimant in writing, prior to the end of the initial 90-day
period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

  

	 	7.1.3	Notice of Decision. If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan
Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Agreement on which the denial is based; 

  

	 	(c)	A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed; 

  

	 	(d)	An explanation of the Agreement’s review procedures and the time limits applicable to such procedures; and 

  

	 	(e)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

  

	7.2	Review Procedure. If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of
the denial, as follows: 

  

	 	7.2.1	Initiation – Written Request. To initiate the review, the claimant, within 60 days after receiving the Plan Administrator’s notice of denial, must file with the
Plan Administrator a written request for review. 

  

	 	7.2.2	Additional Submissions – Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating
to the claim. The Plan Administrator shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the
claimant’s claim for benefits. 

  

	 	7.2.3	Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim,
without regard to whether such information was submitted or considered in the initial benefit determination. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	 	7.2.4	Timing of Plan Administrator Response. The Plan Administrator shall respond in writing to such claimant within 60 days after receiving the request for review. If the Plan
Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 60 days by notifying the claimant in writing, prior to the end of the
initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

  

	 	7.2.5	Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan Administrator shall write the notification in a manner
calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Agreement on which the denial is based; 

  

	 	(c)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the claimant’s claim for benefits; and 

  

	 	(d)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a). 

  
 Article 8 
 Amendments and Termination 
  
 This Agreement may
be amended or terminated only by a written agreement signed by the Bank and the Executive. Provided, however, if the Bank’s Board of Directors determines in good faith that the Executive is no longer a member of a select group of management or
highly compensated employees, as that phrase applies to ERISA, for reasons other than death, Disability or retirement, the Bank may terminate this Agreement. Upon such termination the Executive shall be one hundred percent (100%) vested in the
Accrual Balance, and such amount shall be distributed to the Executive or his or her Beneficiary in a lump sum within sixty (60) days following Separation from Service. Additionally, the Bank may also amend this Agreement to conform with written
directives to the Bank from its banking regulators. 
  
 Article
9 
 Miscellaneous 
  

	9.1	Binding Effect. This Agreement shall bind the Executive and the Bank, and their beneficiaries, survivors, executors, administrators and transferees. 

 

	9.2	 No Guarantee of Employment. This Agreement is not a contract for employment. It does not give the Executive the right to remain as an employee of the Bank,
nor does it 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	 	 
interfere with the Bank’s right to discharge the Executive. It also does not require the Executive to remain an employee nor interfere with the
Executive’s right to terminate employment at any time. 

  

	9.3	Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner. 

  

	9.4	Tax Withholding. The Bank shall withhold any taxes that are required to be withheld from the benefits provided under this Agreement. The Executive acknowledges that the
Bank’s sole liability regarding taxes is to forward any amounts withheld to the appropriate taxing authority(ies). 

  

	9.5	Applicable Law. The Agreement and all rights hereunder shall be governed by the laws of the State of Ohio, except to the extent preempted by the laws of the United States of
America. 

  

	9.6	Unfunded Arrangement. The Executive and Beneficiary are general unsecured creditors of the Bank for the distribution of benefits under this Agreement. The benefits represent
the mere promise by the Bank to distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on
the Executive’s life or other informal funding asset is a general asset of the Bank to which the Executive and Beneficiary have no preferred or secured claim. 

  

	9.7	Reorganization. The Bank shall not merge or consolidate into or with another bank, or reorganize, or sell substantially all of its assets to another bank, firm, or
person unless such succeeding or continuing bank, firm, or person agrees to assume and discharge the obligations of the Bank under this Agreement. Upon the occurrence of such event, the term “Bank” as used in this Agreement shall be deemed
to refer to the successor or survivor bank. 

  

	9.8	Entire Agreement. This Agreement constitutes the entire agreement between the Bank and the Executive as to the subject matter hereof. No rights are granted to the
Executive by virtue of this Agreement other than those specifically set forth herein. 

  

	9.9	Interpretation. Wherever the fulfillment of the intent and purpose of this Agreement requires, and the context will permit, the use of the masculine gender includes the
feminine and use of the singular includes the plural. 

  

	9.10	Alternative Action. In the event it shall become impossible for the Bank or the Plan Administrator to perform any act required by this Agreement, the Bank or Plan
Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Bank. 

 Consumers National Bank 
 Salary Continuation Agreement 
  

	9.11	Headings. Article and section headings are for convenient reference only and shall not control or affect the meaning or construction of any of its provisions.

  

	9.12	Validity. In case any provision of this Agreement shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but
this Agreement shall be construed and enforced as if such illegal and invalid provision has never been inserted herein. 

  

	9.13	Notice. Any notice or filing required or permitted to be given to the Bank or Plan Administrator under this Agreement shall be sufficient if in writing and hand-delivered, or
sent by registered or certified mail, to the address below: 

  

	
	Consumers National Bank
	614 East Lincoln Way
	Minerva, Ohio 44657

  
 Such notice shall be
deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. 
  

Any notice or filing required or permitted to be given to the Executive under this Agreement shall be sufficient if in writing and hand-delivered, or
sent by mail, to the last known address of the Executive. 
  
 IN
WITNESS WHEREOF, the Executive and a duly authorized representative of the Bank have signed this Agreement. 
  

									
	EXECUTIVE:	 	 	 	BANK:
			
	 	 	 	 	CONSUMERS NATIONAL BANK
				
	 	 	 	 	By	 	 
				
	STEVE MUCKLEY	 	 	 	 	 	 
					
	 	 	 Title __________________________Form of Change of Control agreement

 EXHIBIT 10.2 
  
 CHANGE IN CONTROL AGREEMENT 
  
 THIS CHANGE IN CONTROL AGREEMENT (“Agreement”) is entered into as of the      day of
            , 2005 (the “Effective Date”), by and between CONSUMERS NATIONAL BANK, a nationally chartered commercial bank located in Minerva, Ohio (the
“Company”), and                              (the “Employee”). 
  
 WHEREAS, the Company and the Employee desire to enter into this Agreement on
the terms and conditions set forth below; 
  
 NOW, THEREFORE, in
consideration of the premises and mutual covenants set forth herein, it is hereby agreed by and between the parties as follows: 
  
 1. TERM OF AGREEMENT. The “Term” of this
Agreement shall commence on the Effective Date and shall continue until the earlier of (i) the termination of the Employee’s employment with the Company prior to the date of a Change in Control, or (ii)
                        , 2010, upon which date this Agreement shall automatically terminate. 
  
 2. CHANGE IN
CONTROL. For purposes of this Agreement, a “Change in Control” means the transfer of shares of the Company’s voting common stock during the Term such that one entity or one person
acquires (or is deemed to acquire when applying Section 318 of the Code) more than 50 percent of the Company’s outstanding voting common stock. 
  
 3. TERMINATION. For purposes of this Agreement, the term “Termination” shall
mean termination of the employment of the Employee, during the twelve (12) consecutive month period commencing upon a Change in Control, by the Company, for any reason other than death, Disability (as defined below), or Cause (as
defined below). The date of the Employee’s Termination under this Section 3 shall be the date specified by the Company in a written notice to the Employee complying with the requirements of Section 7 below. For purposes of this Agreement, the
Employee shall be considered to have a “Disability” during the period in which the Employee is unable, by reason of a medically determinable physical or mental impairment, to engage in the material and substantial duties of Employee’s
regular employment with the Company, which condition is expected to be permanent. For purposes of this Agreement, the term “Cause” means, in the reasonable judgment of the President of the Company, (i) the willful and continued failure by
the Employee to substantially perform the Employee’s duties with the Company after written notification by the Company, (ii) the willful engaging by the Employee in conduct which is demonstrably injurious to the Company, monetarily or
otherwise, or (iii) the engaging by the Employee in egregious misconduct involving serious moral turpitude. For purposes of this Agreement, no act or failure to act on the Employee’s part shall be deemed “willful” unless done, or
omitted to be done, by the Employee not in good faith and without reasonable belief that such action was in the best interest of the Company. 
  
 4. SEVERANCE PAYMENTS. In the event of a Termination described in Section
3 above, the Employee shall be entitled to receive (i) Company-paid COBRA premiums (relating to Employee’s group medical insurance continuation premiums under the Company’s group health plan) for a period of twelve (12) months after the
date of Termination, and (ii) a lump sum payment in cash no later than                     
(            ) business days after the date of Termination equal to the following applicable amount: 
  

	 	(a)	if Termination occurs between the Effective Date and             , 2006, an amount equal to one hundred percent
(100%) of the Employee’s annual base salary in effect immediately prior to the date of Termination; or 

	 	(b)	if Termination occurs between                     , 2006 and
                    , 2007, an amount equal to eighty percent (80%) of the Employee’s annual base salary in effect immediately prior to
the date of Termination; or 

  

	 	(c)	if Termination occurs between                     , 2007 and
                    , 2008, an amount equal to sixty percent (60%) of the Employee’s annual base salary in effect immediately prior to
the date of Termination; or 

  

	 	(d)	if Termination occurs between                     , 2008 and
                    , 2009, an amount equal to forty percent (40%) of the Employee’s annual base salary in effect immediately prior to
the date of Termination; or 

  

	 	(e)	if Termination occurs between                     , 2009 and
                    , 2010, an amount equal to twenty percent (20%) of the Employee’s annual base salary in effect immediately prior to
the date of termination. 

  
 5.
WITHHOLDING. All payments to the Employee under this Agreement will be subject to all applicable withholding of municipal, state, and federal taxes. 
  
 6. MITIGATION AND
SET-OFF. The Employee shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise. The Company shall not be
entitled to set off against the amounts payable to the Employee under this Agreement any amounts earned by the Employee in other employment after termination of the Employee’s employment with the Company, or any amounts which might have been
earned by the Employee in other employment had the Employee sought such other employment. 
  
 7. NOTICES. Any notice of Termination of the Employee’s employment by the Company during the Term on or after a Change in Control shall be by
written notice to the Employee. Any notices, requests, demand and other communications provided for by this Agreement shall be sufficient if in writing and if hand delivered or sent by registered or certified mail to the Employee at the last address
the Employee has filed in writing with the Company or, in the case of the Company. 
  
 8. NON-ALIENATION. The Employee shall not have any right to pledge, hypothecate, anticipate or in any way create a lien upon any amounts
provided under this Agreement; and no amounts payable hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts, or by operation of law. Nothing in this Section 8 shall limit the Employee’s rights or
powers to dispose of the Employee’s property by Last Will and Testament or limit any rights or powers which the Employee’s executor or administrator would otherwise have. This Agreement shall inure to the benefit of and be enforceable by
the Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees, legatees. If the Employee should die while any amount is still payable to the Employee hereunder had the Employee continued
to live, all such amounts shall be paid in accordance with the terms of this Agreement to the Employee’s devisee, legatee, or other designee, or if there is no such designee, to the Employee’s estate. 
  
 9. GOVERNING
LAW. The provisions of this Agreement shall be construed in accordance with the laws of the State of Ohio, without application of conflict of laws provisions thereunder. 
  
 10.
AMENDMENT. This Agreement may be amended or canceled by mutual agreement of the parties in writing without the consent of any other person and, so long as the Employee lives, no person,
other than the parties hereto, shall have any rights under or interest in this Agreement or the subject matter hereof. 
  
 11. SUCCESSORS TO THE COMPANY. This
Agreement shall be binding upon and inure to the benefit of the Company and any successor of the Company. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business and/or assets of the Company 

 
to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no
succession had taken place. 
  
 12.
EMPLOYMENT STATUS. Nothing herein contained shall be deemed to create an employment agreement between the Company and the Employee, providing for the employment of the
Employee by the Company for any fixed period of time. The Employee’s employment with the Company is terminable at will by the Company or the Employee, and each shall have the right to terminate the Employee’s employment with the Company at
any time, with or without Cause, subject to (i) the notice provisions of this Agreement, and (ii) the Company’s obligation, following a Change in Control, to provide severance payments as required by Section 4. Upon a termination of the
Employee’s employment with the Company prior to the date of a Change in Control, there shall be no further rights under this Agreement. 
  
 13. SEVERABILITY. In the event that any provision or portion of this Agreement shall be
determined to be invalid or unenforceable for any reason, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect. 
  
 14. COUNTERPARTS. This Agreement may be executed in two or
more counterparts, any one of which shall be deemed the original without reference to the others. 
  
 IN WITNESS WHEREOF, the Employee and the Company have executed this Agreement as of the day and year first above written, but on the dates indicated below
each. 
  

			
		
	 Employees Signature: 
	 	 

			
		
	 Employee’s Printed Name: 
	 	 

			
		
	 Employee’s Address: 
	 	 
		
	 	 	 

			
		
	 Date: 
	 	 
	
	 CONSUMERS NATIONAL BANK

		
	 By:
	 	 
		
	 Title:
	 	 
		
	 Date:

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