Document:

<PAGE>
                                                                  Exhibit 10.1

                              UNITED BANCORP, INC.
                           SPECIAL SEVERANCE AGREEMENT

     THIS SPECIAL SEVERANCE AGREEMENT is made and entered into effective as of
the _____ day of _____________________, 200_ by and between United Bancorp,
Inc., a(n) Ohio corporation (the "Company") and _______________, an individual
(the "Executive").

                                   WITNESSETH

     WHEREAS, the Company recognizes that the possibility of a Change in Control
(as hereinafter defined) of the Company may exist and that such possibility,
along with the uncertainty and questions which it may raise among management of
the Company, may result in the departure or distraction of management personnel
to the detriment of the Company and its shareholders; and

     WHEREAS, the Board of Directors of the Company (the "Board") has determined
that appropriate steps should be taken to reinforce and encourage the continued
attention and dedication of certain members of the Company's management to their
assigned duties in the face of potential circumstances arising from the
possibility of a Change in Control of the Company, although no such Change In
Control is presently contemplated;

     NOW, THEREFORE, in order to induce the Executive to remain in the employ of
the Company and in consideration of the agreement set forth in Section 2(ii)
hereof, the Company agrees that the Executive shall receive the severance
benefits set forth in this Agreement in the event of a Change in Control of the
Company and employment of the Executive (the "Employment") is subsequently
terminated under the circumstances more fully described below.

     1. TERM OF AGREEMENT; DEFINITION OF CHANGE IN CONTROL. This Agreement shall
commence on the date hereof and shall continue in effect through December 31,
2006; provided, however, that commencing January 1, 2007, and each January 1st
thereafter, the term of this Agreement shall automatically be extended for one
(1) additional year unless not later than June 30 of 2006 and any year
thereafter, the Company shall have given written notice to Executive that it
does not wish to extend this Agreement; and provided further that,
notwithstanding any such notice by the Company not to extend, this Agreement
shall continue in effect for a period of twenty-four (24) months beyond the term
provided herein if a Change in Control of the Company shall have occurred during
such term. For purposes of this Agreement, a "Change in Control" shall have the
meaning and be limited to the definition set forth in Exhibit A, attached
hereto.

     2. CHANGE IN CONTROL. (i) No benefits shall be payable hereunder unless
there shall have been a Change in Control of the Company, and the Employment
shall thereafter have been terminated in accordance with Section 3 below.

<PAGE>

     (ii) For purposes of this Agreement, a "Potential Change in Control of the
Company" shall be deemed to have occurred whenever (A) the Company enters into
an agreement which provides for or contemplates a Change in Control of the
Company; (B) any person (including the Company) publicly announces an intention
to take or to consider taking actions which, if consummated, would constitute a
Change in Control of the Company; or (C) the Board adopts a resolution to the
effect that a Potential Change in Control of the Company for purposes of this
Agreement has occurred. Executive agrees that, subject to the terms and
conditions of this Agreement, in the event of a Potential Change in Control of
the Company, he will remain in the employ of the Company for not less than one
(1) year following the initial occurrence of such a Potential Change in Control
of the Company.

     3. TERMINATION FOLLOWING CHANGE IN CONTROL. In the event of a Change in
Control of the Company, the Executive shall be entitled to the benefits provided
in Section 4 hereof upon subsequent termination of the Employment during the
term of this Agreement unless such termination is (A) because of Executive's
death or Retirement, (B) by the Company for Cause or Disability or (C) by
Executive other than for Good Reason.

     (i) DISABILITY; RETIREMENT. If, as a result of incapacity due to physical
or mental illness, the Executive shall have been absent from duties with the
Company on a full-time basis for six (6) consecutive months, and within thirty
(30) days after written notice of termination is given, Executive shall not have
returned to the full-time performance of duties, the Company may terminate the
Employment for "Disability." Termination of the Employment based on "Retirement"
shall mean termination in accordance with the Company's retirement policy, as
now existing or hereafter amended from time to time, generally applicable to the
Company's salaried employees or in accordance with any retirement arrangement
with respect to the Executive established with his consent.

     (ii) CAUSE. Termination by the Company of the Employment for "Cause" shall
mean termination due to (A) the willful and continued failure by the Executive
substantially to perform Executive's duties with the Company (other than any
such failure resulting from incapacity due to physical or mental illness or any
such actual or anticipated failure resulting from termination for Good Reason),
after a demand for substantial performance is delivered by the Board which
specifically identifies the manner in which the Board believes that Executive's
duties have not been substantially performed, or (B) the willful engaging by the
Executive in conduct which is demonstrably and materially injurious to the
Company. For purposes of this Section 3(ii), no act, or failure to act, shall be
considered "willful" unless done, or omitted to be done, not in good faith and
without reasonable belief that such action or omission was in the best interest
of the Company.

     (iii) GOOD REASON. The Executive shall be entitled to terminate employment
for Good Reason. For purposes of this Agreement, "Good Reason" shall, without
express written consent, mean:

          (A) the assignment of any duties inconsistent with Executive's status
as an executive of the Company or a substantial alteration in the nature or
status of responsibilities from those in effect immediately prior to a Change in
Control of the Company;

                                        2

<PAGE>

          (B) a reduction by the Company in Executive's annual base salary as in
effect on the date hereof or as the same may be increased from time to time,
except for across-the-board salary reductions similarly affecting all executives
of the Company and all executives of any person in control of the Company;

          (C) the relocation of Executive's offices to a location more than
fifty (50) miles from their present location;

          (D) the failure by the Company to continue in effect any current
compensation plan or program in which the Executive participates, or any
substitute plans adopted prior to the Change in Control, unless an equitable
arrangement (embodied in an ongoing substitute or alternative plan) has been
made with respect to each such plan in connection with the Change in Control of
the Company, or the failure by the Company to continue the Executive's
participation therein;

          (E) the failure by the Company to continue to provide benefits
substantially similar to those enjoyed by Executive under any of the Company's
pension, life insurance, medical, health and accident, or disability plans in
which the Executive was participating at the time of a Change in Control of the
Company, the taking of any action by the Company which would directly or
indirectly materially reduce any of such benefits or deprive the Executive of
any material fringe benefit enjoyed by the Executive at the time of the Change
in Control of the Company, or the failure by the Company to provide the number
of paid vacation days on the basis of years of service with the Company in
accordance with the Company's normal vacation policy in effect at the time of
the Change in Control; or

          (F) the failure of the Company to obtain a satisfactory agreement from
any successor-in-interest to assume and agree to perform this Agreement, as
contemplated in Section 5 hereof.

     (iv) NOTICE OF TERMINATION. Any purported termination by the Company or by
the Executive shall be communicated by written Notice of Termination to the
other party hereto in accordance with Section 7 hereof. For purposes of this
Agreement, a "Notice of Termination" shall mean a notice which shall indicate
the specific termination provision in this Agreement relied upon and shall set
forth in reasonable detail the facts and circumstances claimed to provide a
basis for the termination of the Employment under the provision so indicated.

     (v) DATE OF TERMINATION, ETC. "Date of Termination" shall mean:

          (A) if the Employment is terminated for Disability, thirty (30) days
after Notice of Termination is given (provided that the Executive shall not have
returned to the performance of duties on a full-time basis during such thirty
(30) day period); and

          (B) if the Employment is terminated pursuant to subsection (ii) or
(iii) above or for any other reason, the date specified in the Notice of
Termination (which, in the case of a termination pursuant to subsection (ii)
above shall not be less than thirty (30) days, and in the case of a termination
pursuant to subsection (iii) above shall not be more than sixty (60) days,
respectively, from the date such Notice of Termination is given);

                                        3

<PAGE>

provided that if within thirty (30) days after any Notice of Termination is
given, the party receiving such notice of termination notifies the other party
that a dispute exists concerning the termination, the Date of Termination shall
be the date on which the dispute is finally determined, either by mutual written
agreement of the parties, by a binding arbitration award or by a final
judgement, order or decree of a court of competent jurisdiction (the time for
appeal therefrom having expired and no appeal having been perfected); and
provided further that the Date of Termination shall be extended by a notice of
dispute only if such notice is given in good faith and the party giving such
notice pursues the resolution of such dispute with reasonable diligence.
Notwithstanding the pendency of any such dispute, the Company will continue to
pay full compensation in effect when the notice giving rise to the dispute was
given (including, but not limited to, base salary) and maintain the Executive as
a participant in all compensation, benefit and insurance plans in which the
Executive was participating when the notice giving rise to the dispute was
given, until the dispute is finally resolved in accordance with this subsection.
Amounts paid under this Section 3(v) are in addition to all other amounts due
under this Agreement and, except as provided in Section 4(v) below, shall not be
offset against or reduce any other amounts due under this Agreement.

     4. COMPENSATION UPON TERMINATION OR DURING DISABILITY.

     (i) During any period that the Executive fails to perform duties hereunder
as a result of incapacity due to physical or mental illness, he shall continue
to receive full base salary at the rate then in effect and all compensation,
including under the Company's Annual Incentive Plan or any other bonus or
compensation plan or policy, paid during such period until this Agreement is
terminated pursuant to Section 3(i) hereof. Thereafter, benefits shall be
determined in accordance with the Company's disability program then in effect.

     (ii) If the Executive retires pursuant to Section 3(i) hereof, this
Agreement shall immediately terminate, and the Company shall have no further
obligations hereunder.

     (iii) If the Employment is terminated for Cause, the Company shall pay
Executive's full base salary through the Date of Termination at the rate in
effect at the time Notice of Termination is given, and the Company shall have no
further obligations hereunder.

     (iv) If the Employment is terminated (a) by the Company other than for
Cause, Retirement or Disability or (b) for Good Reason, then the Executive shall
be entitled to the benefits provided below:

          (A) the Company shall pay full base salary through the Date of
Termination at the rate currently in effect at the time Notice of Termination is
given;

          (B) in lieu of any further salary payments for periods subsequent to
the Date of Termination, the Company shall pay as severance pay (the "Severance
Payment"), not later than the fifth day following the Date of Termination, a
lump sum severance payment equal to __________ [DRAFTING NOTE//Note for each
executive inert the appropriate multiple of annual compensation to be paid]
times the sum of (i) Executive's annual base salary in effect

                                        4

<PAGE>

immediately prior to the occurrence of the circumstance giving rise to the
Notice of Termination given in respect thereof and (ii) the amount of any bonus
paid pursuant to the Annual Incentive Plan (or any similar plan for the payment
of a cash bonus as the same may be in effect from time to time, collectively
referred to hereafter as the "Annual Incentive Plan") in the year preceding that
in which the Date of Termination occurs. The Severance Payment shall be reduced
(but not increased), as appropriate, so as not to exceed the product of the (x)
the Severance Payment times (y) the quotient resulting from a numerator equal to
the number of full months remaining to the Executive's normal retirement date
and a denominator of ______ (DRAFTING NOTE//Note for each executive insert as
appropriate to the benefit provided above: i.e. "12" if the benefit is a one
year multiple, "24" if the benefit is a two year multiple or "36" if the benefit
is a three year multiple);

          (C) notwithstanding any provision of the Annual Incentive Plan, the
Company shall pay, not later than the fifth day following the Date of
Termination, a lump sum amount equal to the sum of (i) any incentive
compensation which has been allocated for the fiscal year preceding that in
which the Date of Termination occurs but which has not yet been paid, and (ii)
any award under the Annual Incentive Plan which has not yet been paid for any
period which has closed prior to the Date of Termination; and

          (D) The Company shall also pay all reasonable legal fees and expenses
incurred by Executive as a result of the termination of the Employment
(including all such fees and expenses, if any, incurred in contesting or
disputing any such termination or in seeking to obtain or enforce any right or
benefit provided by this Agreement).

     (v) The Executive shall not be required to mitigate the amount of any
payment provided for in this Section 4 by seeking other employment or otherwise,
nor shall the amount of any payment or benefit provided for in this Section 4 be
reduced by any compensation earned as the result of employment by another
employer or by retirement benefits after the Date of Termination, or otherwise.

     (vi) In the event that any payment or benefit (whether payable pursuant to
the terms of this Agreement or otherwise) would not be deductible because of
section 280G of the Internal Revenue Code of 1986 as amended (the "Code"), the
aggregate amount payable hereunder shall be reduced, so that after giving effect
to such reduction, no payment made or benefit under the terms of this Agreement
will not be deductible because of section 280G of the Code. In determining
whether any payment under the terms of this Agreement would not be deductible
under section 280G of the Code, all present and future payments and benefits
shall be included (and, in the case of stock option, other non-cash benefits or
deferred cash payments, shall be valued by a national independent accounting
firm (at the Company's expense) acceptable to the Executive in accordance with
the principles of Sections 280G(d) (3) and (4) of the Code and any regulations
promulgated thereunder) except payments and benefits which, in the written
opinion of independent tax counsel selected by a national independent accounting
firm and acceptable to the Executive, do not constitute "parachute payments"
within the meaning of section 280G(b) (2) of the Code.

     (vii) Notwithstanding the provisions of this Agreement providing for
payment of

                                        5

<PAGE>

benefits, if at the time a benefit would otherwise be payable, Executive is a
"specified executive" (as defined below), and the payment provided for would be
deferred compensation with the meaning of section 409A of the Code, the
distribution of the Executive's benefit may not be made until six months after
the date of the Executive's "separation from service" with the Company (as that
term may be defined in section 409A(a)(2)(A)(i) of the Code and regulations
promulgated thereunder), or, if earlier, the date of death of the Executive.
This requirement shall remain in effect only for periods in which the stock of
the Company is publicly traded on an established securities market. For purposes
of this subparagraph a "specified executive" shall mean any executive of the
Company who is a "key employee" of the Company within the meaning of section
416(i) of the Code. This shall include any employee who is (i) a 5-percent owner
of the Company's common stock; (ii) an officer of the Company with annual
compensation from the Company of $130,000.00 or more; or (iii) a 1-percent owner
of Company's common stock with annual compensation from the Company of
$150,000.00 or more (or such higher annual limit as may be in effect for years
subsequent to 2005 pursuant to indexing Section 416(i) of the Code). The
provisions of this subparagraph have been adopted only in order to comply with
the requirements added by section 409A of the Code. These provisions shall be
interpreted and administered in a manner consistent with the requirements of
section 409A of the Code, together with any regulations or other guidance which
may be published by the Treasury Department or Internal Revenue Service
interpreting such section 409A of the Code.

     5. SUCCESSORS; BINDING AGREEMENT. (i) The Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business or assets of the Company
expressly to 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 such
succession had taken place. Failure of the Company to obtain such assumption and
agreement prior to the effectiveness of any such succession shall be a breach of
this Agreement and shall entitle the Executive to compensation from the Company
in the same amount and on the same terms as the Executive would have been
entitled hereunder if employment is terminated for Good Reason, except that for
purposes of implementing the foregoing, the date on which any such succession
becomes effective shall be deemed the Date of Termination. As used in this
Agreement, "Company" shall mean the Company as hereinbefore defined and any
successor-in-interest to its business or assets as aforesaid which assumes and
agrees to perform this Agreement by operation of law, or otherwise.

     (ii) This Agreement shall inure to the benefit of and be enforceable by the
Executive's personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees.

     6. IRC 409A SAVINGS CLAUSE. The provisions of this agreement are intended
to comply with all of the provisions and requirements applicable to deferred
compensation arrangements under section 409A of the Code and any regulations
issued thereunder. Any provision contained herein determined to be inconsistent
with the requirements of section 409A of the Code shall be disregarded so as to
cause the Agreement to comply in all respects with the applicable provisions of
section 409A of the Code. The Company shall have the authority to cause this
Agreement to be interpreted and administered in a manner consistent with the

                                        6

<PAGE>

requirements of section 409A of the Code, together with any regulations or other
guidance which may be published by the Treasury Department or Internal Revenue
Service interpreting such section 409A of the Code.

     7. NOTICE. For the purpose of this Agreement, all notices and all other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States
registered or certified mail, return receipt requested, postage prepaid.

     8. MISCELLANEOUS. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing
and signed by the Executive and such officer of the Company as may be
specifically designated by the Board. The validity, interpretation, construction
and performance of this Agreement shall be governed by the laws of the State of
Ohio applicable to instruments under seal.

     9. VALIDITY. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, which shall remain in full force and effect.

     10. COUNTERPARTS. This Agreement may be executed in several counterparts,
each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

     11. ARBITRATION. Any dispute or controversy arising under or in connection
with this Agreement shall be settled exclusively by arbitration in accordance
with the rules of the American Arbitration Association then in effect. The
arbitration shall occur in Martins Ferry, Ohio, or such other place as mutually
agreed upon. The prevailing party shall be entitled to recover any and all costs
associated with any arbitration proceeding (and any subsequent proceeding to
enforce rights thereunder) including the recovery of reasonable attorneys fees.
Judgment on the award rendered by the arbitrator(s) may be entered in any court
having jurisdiction thereof.

     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
and its corporate seal to be hereunder affixed on the day and year first above
written and the Executive has hereunto set his hand and seal on the day and year
specified.

UNITED BANCORP, INC                     EXECUTIVE

By:                                     By:
    ---------------------------------       ------------------------------------
Name:                                   Name:
      -------------------------------         ----------------------------------
Title:
       ------------------------------

                                        7

<PAGE>

Exhibit A
Change in Control Definition

     A "Change in Control" shall mean a "Change in Ownership" as defined in (a)
     hereof; a "Change in Effective Control" as defined in (b), hereof; or a
     "Change in Ownership of a Substantial Portion of Assets" as defined in (c)
     hereof.

     (a)  Change in Ownership. For purposes of this Agreement, a Change in
          Ownership of the Company occurs on the date that any one person, or
          more than one person acting as a group (as defined in subsection (d)
          hereof), acquires ownership of stock of the Company that, together
          with stock held by such person or group, constitutes more than 50
          percent of the total fair market value or total voting power of the
          stock of the Company. However, if any one person, or more than one
          person acting as a group, is considered to own more than 50 percent of
          the total fair market value or total voting power of the stock of the
          Company, the acquisition of additional stock by the same person or
          persons is not considered to cause a Change in Ownership of the
          Company (or to cause a Change in Effective Control of the Company
          within the meaning of subsection (b) hereof). An increase in the
          percentage of stock owned by any one person, or persons acting as a
          group, as a result of a transaction in which the Company acquires its
          stock in exchange for property will be treated as an acquisition of
          stock for purposes of this section.

     (b)  Change in Effective Control. For purposes of this Agreement, a Change
          in Effective Control of the Company occurs on the date that either:

          (i)  Any one person, or more than one person acting as a group (as
               determined under subsection (d) hereof), acquires (or has
               acquired during the 12-month period ending on the date of the
               most recent acquisition by such person or persons) ownership of
               stock of the Company possessing 35 percent or more of the total
               voting power of the stock of the Company; or

          (ii) a majority of members of the Company's Board of Directors is
               replaced during any 12-month period by directors whose
               appointment or election is not endorsed by a majority of the
               members of the Company's Board of Directors prior to the date of
               the appointment or election.

          In the absence of an event described in Section (b)(i) or (ii) above,
          a change in the effective control of a Company will not have occurred.

     (c)  Change in Ownership of a Substantial Portion of the Company's Assets.
          For purposes of this Agreement, a Change in Ownership of a Substantial
          Portion of the Company's Assets occurs on the date that any one
          person, or more than one person acting as a group (as determined in
          subsection(d) hereof), acquires (or has acquired during the 12-month
          period ending on the date of the most recent acquisition by such
          person or persons) assets from the Company that have a total gross
          fair market value equal to or more than 40 percent of the total gross
          fair market value of all of the assets of the Company immediately
          prior to such acquisition or acquisitions. For this purpose, gross
          fair market value means the value of the assets of the Company, or the
          value of the assets being disposed of, determined without regard to
          any liabilities associated with such assets.

          There is no Change in Control Event under this subsection (c) when
          there is a transfer to an entity that is controlled by the
          shareholders of the Company immediately after the transfer, as
          provided in this paragraph. A transfer of assets by the Company is not
          treated as a change in the ownership of such assets if the assets are
          transferred to:

                                        8

<PAGE>

          (i)  A shareholder of the Company (immediately before the asset
               transfer) in exchange for or with respect to its stock;

          (ii) An entity, 50 percent or more of the total value or voting power
               of which is owned, directly or indirectly, by the Company;

          (iii) A person, or more than one person acting as a group, that owns,
               directly or indirectly, 50 percent or more of the total value or
               voting power of all the outstanding stock of the Company; or

          (iv) An entity, at least 50 percent of the total value or voting power
               of which is owned, directly or indirectly, by a person described
               in subsection (c)(iii) hereof.

          For purposes of this subsection (c) and except as otherwise provided,
          a person's status is determined immediately after the transfer of the
          assets. For example, a transfer to a corporation in which the
          transferor corporation has no ownership interest before the
          transaction, but which is a majority-owned subsidiary of the
          transferor corporation after the transaction is not treated as a
          change in the ownership of the assets of the transferor corporation.

     (d)  Persons Acting as a Group. Persons will not be considered to be acting
          as a group solely because they purchase assets or purchase or own
          stock of the same corporation at the same time, or as a result of the
          same public offering. However, persons will be considered to be acting
          as a group if they are owners of a corporation that enters into a
          merger, consolidation, purchase or acquisition of stock, purchase or
          acquisition of assets, or similar business transaction with the
          Company. If a person, including an entity shareholder, owns stock in
          both corporations that enter into a merger, consolidation, purchase or
          acquisition of stock, or similar transaction, such shareholder is
          considered to be acting as a group with other shareholders in a
          corporation only to the extent of the ownership in that corporation
          prior to the transaction giving rise to the change and not with the
          ownership interest in the other corporation.

     Notwithstanding the forgoing no Change in Control shall be deemed to have
     occurred if such Change in Control does not constitute a permitted
     distribution event for deferred compensation arrangements, as defined by
     section 409A of the Internal Revenue Code of 1986, as amended and any
     Treasury Regulations issued thereunder.

                                        9<PAGE>
                                                                 Exhibit 10.2

                              AMENDED AND RESTATED
                            UNITED BANCORP, INC. AND
           UNITED BANCORP, INC. AFFILIATE BANKS DIRECTORS AND OFFICERS
                           DEFERRED COMPENSATION PLAN

                       (AS AMENDED _______________, 2006)

     SECTION 1 - THE PLAN. United Bancorp, Inc. hereby establishes a deferred
compensation plan to be known and described as the "United Bancorp, Inc. and
United Bancorp, Inc. Affiliate Banks Directors and Officers Deferred
Compensation Plan." The Plan is an unfunded deferred compensation plan, and it
is the intention of the parties that the arrangements herein set forth be
unfunded for tax purposes and for purposes of Title I of ERISA. Amounts deferred
pursuant to the Plan shall remain unrestricted assets, at all times, of the
Corporation. Participants in the Plan have the status of general unsecured
creditors of the Corporation, and the Plan constitutes a mere promise by the
Corporation to make benefit payments in the future.

     SECTION 2 - DEFINITIONS. As used herein, the terms hereinafter set forth
shall be construed as follows:

     (a) "Account" shall mean a deferred compensation account established under
and pursuant to the Plan.

     (b) "Bonus" means an Employee's annual cash bonus.

     (c) "Beneficiary" means the beneficiary designated in writing by the
Participant to receive benefits from the Plan in the event of his or her death.
The Beneficiary shall be designated on a form provided by the Corporation, and
the Participant may change the Beneficiary designation at any time by signing
and filing a new form with the Corporation. However, if the Participant is
married at the time of his or her death, the Beneficiary of any death benefits
shall be the Participant's spouse, despite any designation to the contrary,
unless the spouse has consented to a different or additional Beneficiary. The
spouse's consent shall be in writing and shall be witnessed by a Plan
representative or by a notary public.

          If the Participant designates a trust as Beneficiary, the Corporation
shall determine the rights of the trustee without responsibility for determining
the validity, existence, or provisions of the trust. Further, the Corporation
shall not have responsibility for the application of sums paid to the trustee or
for the discharge of the trust.

          The rules of this paragraph apply unless provided otherwise in the
Participant's Beneficiary designation form. If the Participant designates one
primary Beneficiary and the Beneficiary dies after the Participant but before
benefit payments are completed, any remaining benefits shall be payable to the
secondary Beneficiary. If the Participant fails to designate a secondary
Beneficiary or if no secondary Beneficiary survives the primary Beneficiary, any
remaining benefits shall be payable to the deceased primary Beneficiary's heirs

<PAGE>

in the manner described in the next paragraph. If the Participant designates
more than one primary Beneficiary or more than one secondary Beneficiary and a
Beneficiary dies before benefit payments are completed, the share payable to the
deceased Beneficiary shall be paid to the deceased Beneficiary's heirs in the
manner described in the next paragraph as if the Beneficiary was the
Participant.

          If the Participant fails to designate a Beneficiary or if no
designated Beneficiary survives the Participant, distribution shall be made in
equal shares to the members of the first of the classes listed below having a
living member on the date the distribution is payable. The classes, in order of
priority, are as follows:

          (1) The Participant's spouse;

          (2) The Participant's children or their then-living issue, by right of
     representation; and

          (3) The legal heirs of the Participant under the laws of the
     Participant's state of residence on the date of the Participant's death.

          The facts as shown by the records of the Plan Administrator at the
time of death shall be conclusive as to the identity of the proper payee, and
the records of the Plan Administrator shall be conclusive as to the amount
properly payable. The distribution made in accordance with such state of facts
shall constitute a complete discharge of all obligations under the provisions of
the Plan.

     (d) "Board of Directors" and "Board" shall mean the Board of Directors of
the Corporation (exclusive of honorary directors or director emeritus).

     (e) "Change in Control" shall have the meaning set forth in Exhibit A,
attached hereto.

     (f) "Code" means the Internal Revenue Code of 1986, as amended.

     (g) "Common Stock" shall mean United Bancorp, Inc. Common Stock.

     (h) "Compensation" shall mean Fees and Bonus.

     (i) "Corporation" shall mean United Bancorp, Inc. and each wholly-owned
subsidiary of United Bancorp, Inc. which adopts the Plan and establishes
accounts for the benefit of Participants.

     (j) "Disability" shall have the meaning set forth in Exhibit A, attached
hereto.

     (k) "Employee" shall mean an employee of the Corporation.

     (l) "Fees" shall include all compensation as fixed and determined by the
Board of Directors, which is payable to a member of the Board for attendance at
meetings, whether

                                        2

<PAGE>

regular or special, of the Board of Directors, the Executive Committee, and all
other Committees which have been established or in the future may be established
by the Board of Directors.

     (m) "Participant" shall mean a duly elected member of the Board of
Directors and any senior officer of the Corporation designated by the Board as
an eligible participant.

     (n) "Plan" shall mean this United Bancorp, Inc. and United Bancorp, Inc.
Affiliate Banks Directors and Officers Deferred Compensation Plan, as the same
may be amended from time to time.

     (o) "Plan Administrator" shall mean United Bancorp, Inc. or such person as
shall be appointed by United Bancorp, Inc. As of the date of this amended and
restated Plan, Wesbanco Bank Wheeling, Wheeling, West Virginia shall be the Plan
Administrator.

     (p) "Plan Year" means the calendar year which is the Corporation's taxable
year.

     (q) "Trust" shall mean a trust established by United Bancorp, and titled
the "United Bancorp, Inc. and United Bancorp, Inc. Affiliate Banks Directors and
Officers Deferred Compensation Plan Trust." Such Trust, if established, shall
hold assets to assist the Corporation in meeting its obligations under the Plan
and shall conform to the terms of the model trust as described in Revenue
Procedure 92-64, 1992-2 C.B. 422.

     (r) "Unforeseeable Emergency" shall have the meaning set forth in section
409A of the Code and section 1.409A-3(g)(3) of the IRS Temporary Regulations, as
now in effect and hereinafter amended.

     (s) "United Bancorp, Inc." shall mean United Bancorp, Inc., Martins Ferry,
Ohio.

     SECTION 3 - ELIGIBILITY TO PARTICIPATE. The right to participate in the
Plan shall be limited to members of the Board of Directors and senior officers
of the Corporation after designation by the Board as eligible participants.

     SECTION 4 - ELECTION TO PARTICIPATE. Any eligible Participant who desires
to participate in the Plan may elect for any Plan Year, on or before the 31st
day of December of the preceding Plan Year, to defer all or a specified part of
the Fees and so much of Bonus as the Board may from time to time authorize,
which thereafter shall be payable to him for services in the succeeding Plan
Year. A Participant's election to defer Compensation under the Plan shall be
deemed irrevocable as of December 31 of a Plan Year with respect to amounts
payable with respect to services preformed in the immediately following Plan
Year and shall continue in effect until changed by the Participant, in
accordance with the provisions and limitations of the Plan. Additionally, a
Participant may make an election to defer Compensation as follows:

     (a) at any time within thirty (30) days following the date on which a
person is first eligible to participate in the Plan, provided that such election
shall apply only for Compensation earned for services performed subsequent to
the election for such Plan Year. A Participant may also make such an election
within thirty (30) days following adoption of the Plan by such

                                        3

<PAGE>

subsidiary of United Bancorp, Inc. which had not previously participated in the
Plan, provided that such election shall apply only for Compensation earned for
services performed subsequent to the election for such Plan Year. For purposes
hereof, the amount of Bonuses that are earned after the date of election is the
sum that equals the product of the Participant's total compensation for the
performance period for which the Bonuses are paid, times the quotient resulting
from dividing the number of days remaining in the performance period after the
election over the total number of days in the performance period or

     (b) subject to approval by the Corporation, a Participant may make an
election to defer "Performance Based Compensation" earned over a period of at
least twelve (12) months as late as six months prior to the end of the
performance period, provided such election is in accordance with all of the
requirements of Section 1.409A-2(a)(7) of the IRS Temporary Regulations, as now
in effect and hereinafter amended.

     SECTION 5 - MANNER OF MAKING ELECTION. An election to participate in the
Plan shall be made by written notice, on such form as may be prescribed by the
Corporation, which shall be signed by the electing Participant and filed with
the Corporation.

     SECTION 6 - ACCOUNTING AND ADMINISTRATION. The Corporation and each
adopting subsidiary thereof shall establish and maintain on its books a deferred
compensation account for and in the name of each Participant who elects to
participate in the Plan, each such account to be known and designated as "The
Deferred Compensation Account of (Participant's Name)," and shall credit to each
such account all Compensation that is payable, and otherwise should be paid
directly, to the Participant in whose name the account is established. Each such
credit shall be entered in the account as of the date on which the Compensation
represented thereby is payable. The Plan shall be administered by the trust
department of the Plan Administrator, who shall have full power to administer
the Plan in all of its details, subject to the applicable requirements of law.
The Corporation shall have the exclusive authority to remove and appoint the
Plan Administrator in its sole discretion and may do so without the approval of
any Participant of the Plan or any United Bancorp, Inc. affiliate bank. The
Corporation may appoint itself or any affiliated company as Administrator under
its authority herein. The Corporation may establish a Trust to hold assets to
assist the Corporation in meeting its obligations under the Plan and such Trust
shall conform to the terms of the model trust as described in Revenue Procedure
92-64, 1992-2 C.B. 422. The Trust shall be a grantor trust under sections 671
through 678 of the Code. The Trust Agreement shall provide that the assets of
the Trust are subject to the claims of the Bank's general creditors if the Bank
becomes insolvent. If any assets of the Trust are seized by general creditors of
the Bank, a Participant's right to receive benefits under the Plan shall not be
changed.

     SECTION 7 - INTEREST. Interest shall be credited to each account at any
time for which there is an account balance which has not yet been deemed
invested in United Bancorp, Inc. Common Stock in accordance with Section 8
hereof, during the period that the person in whose name such account is carried
is a member of the Board of Directors or Employee, at the rate from time to time
determined by The Citizens Savings Bank (or other adopting subsidiary) for and
payable on funds on deposit in the Money Market Accounts maintained by the bank.
Interest computation shall be made and the amount of each computation entered in
the account as

                                        4

<PAGE>

a credit on the same dates that interest is computed by the bank on the
aforesaid Money Market Accounts.

     SECTION 8 - UNITED BANCORP, INC. COMMON STOCK. Periodically, at such times
and in such intervals as the Corporation shall determine is administratively
reasonable, but at least annually, a Participant's account balances or credits
shall be deemed to be invested in United Bancorp, Inc. Common Stock and the
Participant's account shall be credited with such shares and the subsequent
dividends thereon reinvested.

     SECTION 9 - TERMINATION OF ELECTION TO PARTICIPATE. A Participant's
election to defer a portion of his or her Compensation shall continue in effect
until changed by the Participant. An election to defer Compensation pursuant to
the Plan may be terminated by written notice, signed by the participating
Participant and delivered to the Corporation; provided however, that as of
December 31 of each Plan Year, such election shall be deemed irrevocable with
respect to Compensation payable with respect to services preformed in the
immediately following Plan Year. Notwithstanding the forgoing, in the event a
Participant receives a distribution due to an Unforeseeable Emergency, such
Participant's election to defer Compensation shall automatically immediately
terminate and thereafter such Participant may make a subsequent election to
defer fees only with respect to Compensation payable for services preformed in
the immediately following Plan Year.

     SECTION 10 - PAYMENT OF DEFERRED COMPENSATION. Distribution of a
Participant's account balance shall be made in accordance with the following.

     (a) No distribution payments shall be made from any account as long as the
Participant in whose name such account has been established continues to be an
Employee or a member of the Board of Directors; provided, however, that in the
event of an Unforeseeable Emergency, benefits may be payable upon approval of
the Corporation without termination of employment or Board membership, but only
to the extent necessary to meet the emergency and otherwise in compliance with
all of the conditions and limitations imposed on distributions made pursuant to
and in compliance with section 409A(a)(2)(A)(vi) and (B)(ii) of the Code and any
regulations promulgated thereunder.

     (b) Subject to a distribution election made by a Participant as provided in
(c) below, when a participating Participant ceases to be an Employee or member
of the Board for any reason, the Corporation shall pay to him in one lump sum
within sixty (60) days of termination of service as a Participant or as soon
thereafter as is reasonably practicable but not later than the end of the Plan
Year, the aggregate number of shares of Common Stock (including, without
limitation, shares deemed to be acquired through reinvested dividends) standing
to his or her credit in the account maintained for his or her benefit as of the
close of business on the date of the termination of his or her membership on the
Board, together with any cash account balance which has not yet been deemed
invested in Common Stock in accordance with Section 8 hereof and interest
thereon at the rate payable on The Citizens Savings Bank (or other adopting
subsidiary) Money Market Accounts, until paid in full.

     (c) In lieu of the payment of a lump sum upon termination of service as a
Participant as

                                        5

<PAGE>

provided in (b) above, upon initial participation in the Plan, a Participant may
elect to receive his or her benefit distribution in annual installments upon
termination of service as a Participant over a period not to exceed ten (10)
years. At the time of such election to receive his or her benefit distribution
in installments, the Participant may also elect to accelerate such distribution
upon death, Change in Control, and Disability. A Participant may change a prior
election subject to the following:

          (1) The election shall become valid only upon the expiration of 12
          months from submission to the Corporation.

          (2) The new election must apply to the Participant's entire Account.

          (3) If the Participant elects installment payments, the election must
          specify the time period (not to exceed ten years).

          (4) The new election must delay the first payment (whether installment
          or lump sum) for a period of at least five years from the date the
          first payment otherwise would have been made.

          (5) The Corporation must consent to the new election.

     (d) Cash payments will be made in lieu of fractional shares in an amount
determined by multiplying each fractional share to which a participant would
otherwise be entitled by the per share closing price of Common Stock on the
trading day immediately preceding the date of distribution, or if no trading in
Common Stock occurred on that date, then the next preceding date on which the
Common Stock was traded. In no event will any amount of cash be paid to a
participant from the participant's account under the Plan other than cash not
yet invested in Common Stock, together with interest thereon, and cash in lieu
of fractional shares of Common Stock, as provided in this Section 10.

     (e) Notwithstanding the provisions of the Plan or any distribution election
made by a Participant, the distribution of benefits may be delayed as follows:

          (1) If at the time a benefit would otherwise be payable, the
          Participant is a "specified employee" (as defined below), and the
          payment provided for would be deferred compensation with the meaning
          of the section 409A of the Code, the distribution of the Participant's
          benefit may not be made until six months after the date of the
          Participant's "separation from service" with the Corporation (as such
          term may be defined in section 409A(a)(2)(A)(i) of the Code and
          regulations promulgated thereunder), or, if earlier, the date of death
          of the Participant. This requirement shall remain in effect only for
          periods in which the stock of the Corporation is publicly traded on an
          established securities market.

          (2) For purposes of subparagraph (1) a "specified employee" shall mean
          any Employee of the Corporation who is a "key employee" of the
          Corporation within the meaning of section 416(i) of the Code. This
          shall include any Employee who

                                        6

<PAGE>

          is (i) a 5-percent owner of the Corporation's common stock, or (ii) an
          officer of the Corporation with annual compensation from the
          Corporation of $130,000.00 or more, or (iii) a 1-percent owner of
          Corporation's common stock with annual compensation from the
          Corporation of $150,000.00 or more (or such higher annual limit as may
          be in effect for years subsequent to 2005 pursuant to indexing section
          416(i) of the Code).

          (3) The provisions of Section 10 (e)(1) have been adopted only in
          order to comply with the requirements added by section 409A of the
          Code. These provisions shall be interpreted and administered in a
          manner consistent with the requirements of section 409A of the Code,
          together with any regulations or other guidance which may be published
          by the Treasury Department or Internal Revenue Service interpreting
          such section 409A of the Code.

          (4) In the case of Common Stock, the Corporation shall delay any Plan
          distribution to such Participant as may be necessary to comply with
          (i) any and all federal and state securities registration requirements
          and (ii) the prohibitions on short swing profits as provided by the
          provisions of section 16b of the Securities Exchange Act of 1934 or
          the rules promulgated by the Securities and Exchange Commission under
          section 16b.

     (f) Directors who are participants may make a new distribution election on
or before December 31, 2006 with respect to their accrued account balance
without compliance with the limitations on changes in elections contained in the
Plan in compliance with the transitional relief provided by IRS Notice 2005-1
Q&A 19(c), provided that such election will not apply to amounts they would
otherwise receive during 2006 or cause an amount accrued under the plan to be
paid in 2006.

     SECTION 11 -DEATH OF PARTICIPANT. In the event of the death of a
participating Participant the aggregate amount of his or her account balance
shall be paid to the Participant's Beneficiary in accordance with the terms of
the Plan and his or her distribution election.

     SECTION 12 - FUNDS AND INTEREST NONASSIGNABLE. Benefits payable to Plan
participants and their beneficiaries under this Plan may not be anticipated,
assigned (either at law or in equity), alienated, pledged, encumbered, or
subjected to attachment, garnishment, levy, execution or other legal or
equitable process.

     SECTION 13 - PAYMENT TO MINOR BENEFICIARIES. In the event that any person
designated as a Beneficiary by a participating Participant is a minor, the
Corporation may make payment of any funds or common stock to which such minor is
entitled hereunder by making such payment to such minor, or to the parent,
guardian, or person having custody of such minor, and the receipt of such
parent, guardian or other person shall be a full and sufficient discharge to the
Corporation for such payment.

     SECTION 14 - STATUS OF PARTICIPANTS AS UNSECURED CREDITORS. The obligation
of the Corporation to pay benefits under the Plan shall be unsecured. Each
Participant is an unsecured creditor of the Corporation. Although the
Corporation may make corporate

                                        7

<PAGE>

investments to fund its potential liability under the Plan, the Plan constitutes
a mere promise by the Corporation to make benefit payments in the future. The
establishment of an Account for a Participant and the Corporation's payment of
contributions to a Trust are not intended to create any security for payment of
benefits under the Plan or change the status of the Plan as an unfunded plan for
tax purposes or Title I of ERISA (with respect to ERISA, as to Employees only).

     SECTION 15 - SUSPENSION OF DEFERRALS. The Board of Directors shall have the
right to suspend contributions to the Plan at any time, which suspension shall
become effective as of the January 1 of the Plan Year following such suspension.

     SECTION 16 - AMENDMENT AND MODIFICATION OF THE PLAN. The Plan, as herein
above set forth, may be amended, modified, or terminated at any time by the
Board of Directors of the Corporation; provided, however, that any such
amendment, modification, or termination shall be prospective only in its
operation and effect, and shall not affect or prejudice the rights and interests
of any participating Participant, or other person, as fixed and determined prior
to the adoption thereof.

     SECTION 17 - TERMINATION OF THE PLAN. The Board of Directors may terminate
the Plan as provided by and subject to the limitations and requirements of IRC
409A and section 1.409A-3(h)(2)(viii) of the IRS Temporary Regulations, as now
in effect an hereinafter amended.

     SECTION 18 - IRC 409A SAVINGS CLAUSE. The Plan is intended to comply with
all of the provisions and requirements applicable to deferred compensation
arrangements under section 40A of the Code and any regulations issued
thereunder. Any provision of the Plan determined to be inconsistent with the
requirements of section 409A of the Code shall be disregarded so as to cause the
Plan to comply in all respects with the applicable provisions thereof. The Plan
Administrator shall cause the Plan to be interpreted and administered in a
manner consistent with the requirements of section 409A of the Code, together
with any regulations or other guidance which may be published by the Treasury
Department or Internal Revenue Service interpreting such section 409A of the
Code.

SECTION 19 - EFFECTIVE DATE. The effective date of this Amended and Restated
Plan is __________, 2006.

                                        United Bancorp, Inc.

                                        By:
                                            ------------------------------------
                                            James W. Everson
                                        Its: Chairman, President and Chief
                                             Executive Officer

Approved by the Board of Directors: ________________, 2006

                                        8

<PAGE>

Exhibit A

Disability Definition.

          Disability shall mean that the participant (a) 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 (b) 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 participant's employer.

Change in Control Definition

          A "Change in Control" shall mean a "Change in Ownership" as defined in
     (a) hereof; a "Change in Effective Control" as defined in (b), hereof; or a
     "Change in Ownership of a Substantial Portion of Assets" as defined in (c)
     hereof.

     (a)  Change in Ownership. A Change in Ownership of the Corporation occurs
          on the date that any one person, or more than one person acting as a
          group (as defined in subsection (d) hereof), acquires ownership of
          stock of the Corporation that, together with stock held by such person
          or group, constitutes more than 50 percent of the total fair market
          value or total voting power of the stock of the Corporation. However,
          if any one person, or more than one person acting as a group, is
          considered to own more than 50 percent of the total fair market value
          or total voting power of the stock of the Corporation, the acquisition
          of additional stock by the same person or persons is not considered to
          cause a Change in Ownership of the Corporation (or to cause a Change
          in Effective Control of the Corporation within the meaning of
          subsection (b) hereof). An increase in the percentage of stock owned
          by any one person, or persons acting as a group, as a result of a
          transaction in which the Corporation acquires its stock in exchange
          for property will be treated as an acquisition of stock for purposes
          of this section.

     (b)  Change in Effective Control. A Change in Effective Control of the
          Corporation occurs on the date that either:

          (i)  Any one person, or more than one person acting as a group (as
               determined under subsection (d) hereof), acquires (or has
               acquired during the 12-month period ending on the date of the
               most recent acquisition by such person or persons) ownership of
               stock of the Corporation possessing 35 percent or more of the
               total voting power of the stock of the Corporation; or

          (ii) a majority of members of the Corporation's Board of Directors is
               replaced during any 12-month period by directors whose
               appointment or election is not endorsed by a majority of the
               members of the Corporation's Board of Directors prior to the date
               of the appointment or election.

               In the absence of an event described in Section (b)(i) or (ii)
          above, a change in the effective control of a Corporation will not
          have occurred.

     (c)  Change in Ownership of a Substantial Portion of the Corporation's
          Assets. A Change in Ownership of a Substantial Portion of the
          Corporation's Assets occurs on the date that any one person, or more
          than one person acting as a group (as determined in subsection(d)
          hereof), acquires (or has acquired during the 12-month period ending
          on the date of the most recent

                                        9

<PAGE>

          acquisition by such person or persons) assets from the Corporation
          that have a total gross fair market value equal to or more than 40
          percent of the total gross fair market value of all of the assets of
          the Corporation immediately prior to such acquisition or acquisitions.
          For this purpose, gross fair market value means the value of the
          assets of the Corporation, or the value of the assets being disposed
          of, determined without regard to any liabilities associated with such
          assets.

               There is no Change in Control Event under this subsection (c)
          when there is a transfer to an entity that is controlled by the
          shareholders of the Corporation immediately after the transfer, as
          provided in this paragraph. A transfer of assets by the Corporation is
          not treated as a change in the ownership of such assets if the assets
          are transferred to:

          (i)  A shareholder of the Corporation (immediately before the asset
               transfer) in exchange for or with respect to its stock;

          (ii) An entity, 50 percent or more of the total value or voting power
               of which is owned, directly or indirectly, by the Corporation;

          (iii) A person, or more than one person acting as a group, that owns,
               directly or indirectly, 50 percent or more of the total value or
               voting power of all the outstanding stock of the Corporation; or

          (iv) An entity, at least 50 percent of the total value or voting power
               of which is owned, directly or indirectly, by a person described
               in subsection (c)(iii) hereof.

               For purposes of this subsection (c) and except as otherwise
          provided, a person's status is determined immediately after the
          transfer of the assets. For example, a transfer to a corporation in
          which the transferor corporation has no ownership interest before the
          transaction, but which is a majority-owned subsidiary of the
          transferor corporation after the transaction is not treated as a
          change in the ownership of the assets of the transferor corporation.

     (d)  Persons Acting as a Group. Persons will not be considered to be acting
          as a group solely because they purchase assets or purchase or own
          stock of the same corporation at the same time, or as a result of the
          same public offering. However, persons will be considered to be acting
          as a group if they are owners of a corporation that enters into a
          merger, consolidation, purchase or acquisition of stock, purchase or
          acquisition of assets, or similar business transaction with the
          Corporation. If a person, including an entity shareholder, owns stock
          in both corporations that enter into a merger, consolidation, purchase
          or acquisition of stock, or similar transaction, such shareholder is
          considered to be acting as a group with other shareholders in a
          corporation only to the extent of the ownership in that corporation
          prior to the transaction giving rise to the change and not with the
          ownership interest in the other corporation.

          Notwithstanding the forgoing no Change in Control shall be deemed to
     have occurred if such Change in Control does not constitute a permitted
     distribution event for deferred compensation arrangements, as defined by
     section 409A of the Internal Revenue Code of 1986, as amended and any
     Treasury Regulations issued thereunder.

Unforeseeable Emergency Definition

          Unforeseeable Emergency shall mean a severe financial hardship to the
     Participant resulting from a sudden and unexpected illness or accident of
     the Participant, the Participant's spouse, or a dependent (as defined in
     Code section 152(a)) of the Participant, loss of the Participant's property
     due to casualty, or other similar extraordinary and unforeseeable
     circumstances arising as a result of events beyond the control of the
     Participant.

                                       10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]