Document:

EXHIBIT 10.1

 

January 22, 2021

Churchill Capital Corp II

640 Fifth Avenue, 12th Floor

New York, New York 10019

 

Software Luxembourg Holding S.A.

48, Boulevard Grande-Duchesse Charlotte

L-1330 Luxembourg

Grand Duchy of Luxembourg

 

	Re:	Amendment to Sponsor Agreement

 

Ladies and Gentlemen:

 

Reference is made to the Sponsor Agreement, dated as of October
12, 2020 (the “Sponsor Agreement”) by and among Churchill Capital Corp II, a Delaware corporation (the
 “Acquiror”), Software Luxembourg Holding S.A., a public limited liability company (société
anonyme), incorporated and organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 48, Boulevard
Grande-Duchesse Charlotte, L-1330 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Commerce
and Companies (Registre de Commerce et des Sociétés, Luxembourg) under number B246188 (the “Company”),
Churchill Sponsor II LLC, a Delaware limited liability company (the “Sponsor”), and the undersigned individuals,
each of whom is a member of the Acquiror’s board of directors and/or management team (each, an “Insider”
and collectively, the “Insiders”). Capitalized terms used but not otherwise defined herein shall have
the respective meanings ascribed to such terms in the Sponsor Agreement.

 

For good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, it is hereby agreed that the Sponsor Agreement is amended pursuant to Paragraph 6 thereof by
adding a new Paragraph 17, which shall read in its entirety as follows:

 

		17.	Vesting Provisions. The Sponsor agrees that, as of immediately prior to (but subject to) the Closing, all of the Founder
Shares held by the Sponsor as of the Closing shall be subject to the vesting provisions set forth in this paragraph 17. The Sponsor
agrees that it shall not (and will cause its Affiliates not to) Transfer any unvested Founder Shares held by the Sponsor prior
to the date such Founder Shares become vested pursuant to this paragraph 17, except to the extent permitted by paragraph 3(b).
For the avoidance of doubt, the Founder Shares beneficially owned by the individual Insiders other than the Sponsor shall not be
subject to vesting.

 

		a.	Vesting of Founder Shares.

 

		i.	Vesting of Shares at Closing. 75% of the Founder Shares Beneficially Owned by the Sponsor as of the Closing shall vest
at Closing.

 

		ii.	Performance Vesting Shares. 25% of the Founder Shares Beneficially Owned by the Sponsor as of the Closing shall vest
at such time as a $12.50 Stock Price Level is achieved.

 

		b.	Stock Price Level. For purposes of this paragraph 17, the “Stock Price Level” will be considered achieved
only (a) when the price of Common Stock on the New York Stock Exchange (or other exchange or other market where the Common Stock
is then traded) is greater than or equal to $12.50 or (b) in an Acquiror Sale. The Stock Price Level will be equitably adjusted
on account of any share split, reverse share split or similar equity restructuring transaction.

 

     

     

    

 

		c.	Acquiror Sale. Notwithstanding the foregoing, in the event the Acquiror enters into a binding agreement with respect
to an Acquiror Sale, all unvested Founder Shares Beneficially Owned by the Sponsor shall vest on the day prior to the closing of
such Acquiror Sale. For avoidance of doubt, following a transaction or business combination that is not an “Acquiror Sale”
hereunder, including a transaction or business combination in which the equity securities of the surviving entity of such business
combination or other transaction are registered under the Exchange Act and listed or quoted for trading on a national securities
exchange, the equitable adjustment provisions of paragraph 15 shall apply, including, without limitation, to the performance vesting
criteria set forth in this paragraph 17.

 

		d.	As used in this paragraph 17, “Acquiror Sale” shall mean the occurrence of any of the following events (which,
for the avoidance of doubt, shall not include the Business Combination): (a) any Person or any group of Persons acting together
which would constitute a “group” for purposes of Section 13(d) of the Exchange Act or any successor provisions thereto
is or becomes the beneficial owner, directly or indirectly, of securities of the Acquiror representing more than 50% of the combined
voting power of the Acquiror’s then outstanding voting securities, (b) there is consummated a merger or consolidation of
the Acquiror with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation,
either (x) the board of directors of the Acquiror immediately prior to the merger or consolidation does not constitute at least
a majority of the board of directors of the company surviving the merger or, if the surviving company is a Subsidiary, the ultimate
parent thereof, or (y) the voting securities of the Acquiror immediately prior to such merger or consolidation do not continue
to represent or are not converted into more than 50% of the combined voting power of the then outstanding voting securities of
the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof,
or (c) the stockholders of the Acquiror approve a plan of complete liquidation or dissolution of the Acquiror or there is consummated
an agreement or series of related agreements for the sale, lease or other disposition, directly or indirectly, by the Acquiror
of all or substantially all of the assets of the Acquiror and its Subsidiaries, taken as a whole, other than such sale or other
disposition by the Acquiror of all or substantially all of the assets of the Acquiror and its Subsidiaries, taken as a whole, to
an entity at least 50% of the combined voting power of the voting securities of which are owned by stockholders of the Acquiror
in substantially the same proportions as their ownership of the Acquiror immediately prior to such sale.

 

Except as explicitly amended hereby, the Sponsor Agreement
shall continue, without amendment, in full force and effect from and after the date hereof.

 

This Amendment may be executed in any
number of original, electronic or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be
an original, and all such counterparts shall together constitute but one and the same instrument.

 

[signature page follows]

 

     

     

    

 

	 	Sincerely,
	 	 	 	 
	 	CHURCHILL SPONSOR II LLC
	 	 	 	 
	 	By:	/s/ Mark Klein
	 	 	Name:	Mark Klein
	 	 	Title:	Authorized Person
	 	 	 	 
	 	/s/ Michael Klein
	 	Michael Klein
	 	 	 	 
	 	/s/ Peter Seibold
	 	Peter Seibold
	 	 	 	 
	 	/s/ Mark Klein
	 	Mark Klein
	 	 	 	 
	 	/s/ Malcolm S. McDermid
	 	Malcolm S. McDermid
	 	 	 	 
	 	/s/ Glenn August
	 	Glenn August
	 	 	 	 
	 	/s/ Karen G. Mills
	 	Karen G. Mills
	 	 	 	 
	 	/s/ Jeremy Paul Abson
	 	Jeremy Paul Abson
	 	 	 	 
	 	/s/ Dena Brumpton
	 	Dena Brumpton

 

     

     

    

 

 	Acknowledged and Agreed:	 
	 	 	 	 
	CHURCHILL CAPITAL CORP II	 
	 	 	 	 
	By:	/s/ Peter Seibold	 
	 	Name:	Peter Seibold	 
	 	Title:	Chief Financial Officer	 

 

     

     

    

 

	Acknowledged and Agreed:	 
	 	 	 	 
	SOFTWARE LUXEMBOURG HOLDING S.A	 
	 	 	 	 
	By:	/s/ Greg Porto	 
	 	Name:	Greg Porto	 
	 	Title:	Authorized SignatoryExhibit 10.7

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    COMMUNITY TRUST BANCORP, INC.

    

    

    SENIOR MANAGEMENT INCENTIVE

    COMPENSATION PLAN

    

    

    EFFECTIVE JANUARY 1, 2021

    

    

    
      
        

        

        

        

      

      
        

      
        

        

      

    

    

    

    

    

    

    

    SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN

    

    

    TABLE OF CONTENTS

    

    

    

    

    	 ARTICLE	 	 PAGE
	 	 	 
	
            I.

          	
            Objectives

          	
            1

          
	 	 	 
	
            II.

          	
            Definitions

          	
            1

          
	 	 	 
	
            III.

          	
            Administration of the Plan

          	
            2

            

          
	 	 	 
	
            IV.

          	
            Participant Eligibility

          	
            2

            

          
	 	 	 
	
            V.

          	
            Payment to Participants

          	
            3

            

          
	 	 	 
	
            VI.

          	
            Determination of Annual Award Fund

          	
            3

            

          
	 	 	 
	
            VII.

          	
            Calculation of Award

          	 
	 	 	 
	 	
            Table I – 2021 Annual Cash Incentive Compensation Award – Group I

          	
            3

            

          
	 	
            Table II – 2021 Annual Cash Incentive Compensation Award – Group II

          	
            4

            

          
	 	
            Table III – 2021 Annual Cash Incentive Compensation Award – Group III

          	
            4

            

          
	 	
            Table IV – 2021 Senior Management Incentive Compensation Award – Group IV

          	
            5

            

          
	 	 	 
	
            VIII.

          	
            Miscellaneous Provisions

          	
            5

            

          
	 	 	 
	 	
            Attachment A – Notice of Participation

          	
            6

            

          
	 	 	 
	 	
            Attachment B – Designation of Beneficiary

          	
            7

            

          

    

    

    
      
        

        

        

        

      

      
        

      
        

        

      

    

    
    

    

    ARTICLE I

    

    

    OBJECTIVES

    

    

    Section 1.01

    This plan is designed to reward senior management for meeting or exceeding industry standards for profitability and adopted to achieve the
      following objectives:

    

    

    	

          	(a)	
            Increase the profitability and growth of Community Trust Bancorp, Inc. in a manner which is consistent with other goals of the Company, its stockholders and its employees,

          

    

    

    	

          	(b)	
            Provide executive compensation which is competitive with other financial institutions,

          

    

    

    	

          	(c)	
            Attract and retain personnel of outstanding ability and encourage excellence in the performance of individual responsibilities,

          

    

    

    	

          	(d)	
            Motivate and reward those members of management who contribute to the success of the Company,

          

    

    

    	

          	(e)	
            Distinguish among the performance contributions of some individuals by providing financial recognition for individual performance, as well as group performance, and

          

    

    

    	

          	(f)	
            Allow the flexibility which permits revision and strengthening from time to time to reflect changing organizational goals and objectives.

          

    

    

    ARTICLE II

    

    

    DEFINITIONS

    

    

    Section 2.01

    As used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:

    

    

    	

          	(a)	
            “Annual Incentive Plan” or “Annual Plan” shall mean the Senior Management Incentive Compensation Plan set forth in this document and all amendments thereto.

          

    

    

    	

          	(b)	
            “Award Period” means one Fiscal Year.

          

    

    

    	

          	(c)	
            “Board” means the Board of Directors of Community Trust Bancorp, Inc.

          

    

    

    	

          	(d)	
            “Company” means Community Trust Bancorp, Inc., and its subsidiaries.

          

    

    

    	

          	(e)	
            “Compensation Committee” means the Compensation Committee of the Board.

          

    

    

    	

          	(f)	
            “Disability” means the total and permanent disability of a participant as
              defined by any Long-Term Disability Plans in effect for the Company and as thereafter may be amended.

          

    

    

    	

          	(g)	
            “Effective Date” means the date upon which the Plan shall become effective.

          

    

    

    	

          	(h)	
            “Fiscal Year” means the accounting period adopted by the Company for federal
              income tax purposes.

          

    

    

    	

          	(i)	
            “Participant” means a person designated by the Company to participate in the
              Plan.

          

    

    

    	

          	(j)	
            “Plan” shall mean the Company’s Senior Management Incentive Compensation Plan.

          

    

    

    	

          	(k)	
            “Salary” or “Salaries” shall mean the base salary in effect for each participant as of the last pay period in December of the Award Period.

          

    

    

    
      	
              (l)

            	
              “Stock Option” shall mean stock
                options granted under the Community Trust Bancorp, Inc. 2015 Stock Ownership Incentive Plan as hereinafter may be amended including substitutions or replacements of the Plan.  Such options shall be Incentive Stock Options to the extent
                possible under tax laws in effect at the time the option is awarded.

            

    

    

    

    
      	
              (m)

            	
              “Restricted Stock” shall mean
                restricted stock granted under the Community Trust Bancorp, Inc. 2015 Stock Ownership Incentive Plan as hereinafter may be amended including substitutions or replacements of the Plan.

            

    

    

    

    

    

    
      
        1

        

        

      

      
        

      
        

        

      

    

    ARTICLE III

    

    

    ADMINISTRATION OF THE PLAN

    

    

    Section 3.01

    The Compensation Committee shall administer the Plan and employ such other agents as may reasonably be required to administer the Plan.

    

    

    Section 3.02

    The Compensation Committee shall adopt such rules and regulations of general application as are beneficial for the administration of the Plan
      and shall make all discretionary decisions involving a participant of the Plan. Said committee shall also have the right to interpret the Plan, to determine the Effective Date, and to approve all employees who are to participate in the Plan.

    

    

    Section 3.03

    A majority of the Compensation Committee shall constitute a quorum.  The acts of a majority of the members present at any meeting at which
      there is a quorum shall be valid acts.  Acts reduced to and approved in writing by a majority of said committee shall also be valid acts.

    

    

    

    

    Section 3.04

    All incentive compensation payable under the Plan shall be paid from the general assets of the Company.  To the extent that any person acquires
      a right to receive payments under the Plan, such right shall be no greater than the right of any unsecured creditor of the Company.

    

    

    

    

    Section 3.05

    The Compensation Committee may authorize the Chairman, President and CEO of the Company to send a written notice of such Plan to each selected
      Participant.  No person shall have the right to be included in the Plan until receiving said notice in the form of Attachment "A" hereto.

    

    

    Section 3.06

    All costs and expenses involved in the administration of this Plan shall be paid by the Company.

    

    

    Section 3.07

    Any determination or action of the Compensation Committee or the Board shall be final, conclusive and binding on all participants and their
      beneficiaries, heirs, personal representatives, executors and administrators.

    

    

    Section 3.08

    The Board of Directors, in its sole discretion, may amend, modify or terminate the Plan at any time.  The Compensation Committee shall also
      annually review the pre-determined performance standards and may amend such schedules in its sole discretion. Notwithstanding the foregoing, after the 90th day of the year, the performance standards may not be amended in a manner which
      would increase the amount of incentive compensation payable over the amount which would have been payable under the performance standards previously established for such year.

    

    

    ARTICLE IV

    

    

    PARTICIPANT ELIGIBILITY

    

    

    Section 4.01

    The following groups shall participate in the Plan:

    

    

    	

          	(a)	
            Group I shall consist of CEOs of Community Trust Bancorp, Inc. (CTBI) and Community Trust Bank, Inc. (CTB) plus all other Executive Committee positions of the Corporation.

          

    

    

    	

          	(b)	
            Group II shall consist of the (1) CTB officers responsible for the various consolidated functions as selected by the CTB CEO; (2) the Presidents of each market; and (3) the
              Community Trust and Investment Company (CTIC) officers responsible for various departments as selected by the CTIC CEO.

          

    

    

    
      	
              (c)

            	
              Group III shall consist of Senior Vice Presidents of consolidated functions who are selected for participation by the Compensation
                Committee.

            

    

    

    

    
      	
              (d)

            	
              Individuals below senior vice president level may be recommended and approved by the Compensation Committee for special awards of
                options for extraordinary performance.

            

    

    

    

    Section 4.02

    Voluntary or involuntary termination of full-time employment of a Participant prior to the payment of incentive awards for an Award Period will
      result in such Participant forfeiting any incentive compensation for the Award Period (except as provided in Section 4.03 herein).

    

    

    
      
        2

        

        

      

      
        

      
        

        

      

    

    

    

    Section 4.03

    If a Participant dies, retires, becomes disabled, or is granted a leave of absence during an Award Period, the Compensation Committee may, at
      its discretion or under such rules as it may have prescribed, award partial incentive compensation based on the level of achievement in relation to goals established for the Award Period.

    

    

    Section 4.04

    Directors who are also employees of the Company shall be eligible to participate in the Plan.  However, a director who is compensated on the
      basis of a fee or retainer, as distinguished from a salary, shall not be eligible.

    

    

    Section 4.05

    New employees of the Company and persons promoted during the Award Period who were not eligible to participate in the Plan at the beginning of
      the Award Period, but have become a member of Group I, II, or III shall participate in the Plan so long as such eligibility came into existence no later than six (6) months after the beginning of said Award Period.  If a person becomes eligible at a
      date later than six (6) months into an Award Period, such person shall not be a Participant under this Plan until the first day of the next Award Period.

    

    

    ARTICLE V

    

    

    PAYMENT TO PARTICIPANTS

    

    

    Section 5.01

    Incentive compensation to be awarded under the Plan shall be paid to Participants within thirty days after the close of the Award Period. 
      Awards are not earned until paid to Participants. Except if an incentive is earned it will be payable to employees who retired effective the end of the award period.

    

    

    Section 5.02

    A Participant may elect to defer payment of all or part of his or her incentive compensation so long as the Participant requests such deferred
      payment under the terms of the Company’s Voluntary Deferred Compensation Plan.

    

    

    ARTICLE VI

    

    

    DETERMINATION OF ANNUAL AWARD

    

    

    Section 6.01

    The actual amount of the Senior Management Incentive Compensation Plan award shall be calculated according to a schedule comparing earnings per
      share (EPS) and return on average assets (ROAA) for the Award Period to a pre-determined performance standard.  When performance meets the established performance standards, the award fund will be adjusted according to the performance table.

    

    

    Section 6.02

    In the event that either the ROAA or EPS targeted performance is not attained but the target net income is attained, the amount of the award
      under the Senior Management Incentive Plan shall be paid at the base level of target performance payment.

    

    

    

    

    Section 6.03

    There shall be a minimum acceptable performance beneath which no incentive awards are paid and a maximum above which there is no additional
      award paid to avoid excessive payout in the event of windfall profits.  Said minimum and maximum shall be reviewed annually and amended when necessary at any
        time in the sole discretion of the Compensation Committee; provided, however, that the minimum may not be reduced and the maximum may not be increased after the 90th day of the year.

    

    

    Section 6.04

    A Participant who is rated a "4" or "5" on the most recent Performance Appraisal and Development Plan shall not be eligible to receive an award
      under the Plan.

    

    

    ARTICLE VII

    

    

    CALCULATION OF AWARD

    

    

    Section 7.01

    The Corporation’s Group I will earn an award determined by EPS and ROAA as shown below:

    

    

    TABLE I

    

    

    2021 ANNUAL CASH INCENTIVE COMPENSATION AWARD

    INITIAL CALCULATION

    

    

    Group I - Executive Committee of Community Trust Bancorp, Inc.

    

    

    

    

    	
            Target

          	
            Award as a % of Target Award

          	
            Award as a % of Salary

          	
            Award as a % of Salary

          	
            Award as a % of Salary

          
	
            ROAA

          	
            EPS

          	 	
            CTBI CEO

          	
            CTB CEO

          	
            Group I

          
	 	
            1.29%

          	
            $3.76

          	
            50%

          	
            25%

          	
            20%

          	
            15%

          
	
            Base

          	
            1.32%

          	
            $3.84

          	
            100%

          	
            50%

          	
            40%

          	
            30%

          
	 	
            1.35%

          	
            $3.93

          	
            150%

          	
            75%

          	
            60%

          	
            45%

          
	 	
            1.38%

          	
            $4.02

          	
            200%

          	
            100%

          	
            80%

          	
            60%

          

    

    

    
      	
              •

            	
              For 2021, the targeted (base) ROAA is established as follows: ROAA of 1.32% and EPS of $3.84.

            

    

    

    

    
      	
              •

            	
              For 2021, net income target is $68,521,777.

            

    

    

    

    
      	
              •

            	
              These results are after accrual of the incentive.

            

    

    

    

    

    

    
      
        3

        

        

      

      
        

      
        

        

      

    

    

    

    Section 7.02

    The Corporation’s (Group II) will earn an award determined by EPS growth and ROAA as shown below:

    

    

    TABLE II

    

    

    2021 ANNUAL CASH INCENTIVE COMPENSATION AWARD

    INITIAL CALCULATION

    

    

    Group II – Consolidated Division Officers of CTBI and Market Presidents

    

    

    	
            

              Target

          	
            Award as a % of

            Target Award

          	
            Award as a % of

            Salary

          
	
            ROAA

          	
            EPS

          	 	
            Group II

          
	 	
            1.29%

          	
            $3.76

          	
            50%

          	
            3.50%

          
	
            Base

          	
            1.32%

          	
            $3.84

          	
            100%

          	
            7.00%

          
	 	
            1.35%

          	
            $3.93

          	
            112%

          	
            7.84%

          
	 	
            1.38%

          	
            $4.02

          	
            125%

          	
            8.75%

          

    

    

    
      	
              •

            	
              For 2021, the targeted (base) ROAA is established as follows: ROAA of 1.32% and EPS of $3.84

            

    

    

    

    
      	
              •

            	
              For 2021, net income target is $68,521,777.

            

    

    

    

    
      	
              •

            	
              These results are after accrual of the incentive.

            

    

    

    

    Section 7.03

    Senior Vice Presidents of consolidated functions designated by the Compensation Committee will earn an award determined by EPS growth and ROAA
      as shown below:

    

    

    TABLE III

    

    

    2021 ANNUAL CASH INCENTIVE COMPENSATION AWARD

    INITIAL CALCULATION

    

    

    Group III - Senior Vice Presidents of Consolidated Functions

    

    

    	
            

              Target

          	
            Award as a % of

            Target Award

          	
            Award as a % of

            Salary

          
	
            ROAA

          	
            EPS

          	 	
            Group III

          
	 	
            1.29%

          	
            $3.76

          	
            50%

          	
            2.75%

          
	
            Base

          	
            1.32%

          	
            $3.84

          	
            100%

          	
            5.50%

          
	 	
            1.35%

          	
            $3.93

          	
            106%

          	
            5.83%

          
	 	
            1.38%

          	
            $4.02

          	
            122%

          	
            6.71%

          

    

    

    
      	
              •

            	
              For 2021, the targeted (base) ROAA is established as follows: ROAA of 1.32% and EPS of $3.84.

            

    

    

    

    
      	
              •

            	
              For 2021, net income target is $68,521,777

            

    

    

    

    
      	
              •

            	
              These results are after accrual of the incentive.

            

    

    

    

    

    

    

    

    
      
        4

        

        

      

      
        

      
        

        

      

    

    

    

    Section 7.04

    Participants in Groups I, II, and III shall be eligible to receive Stock Option awards on the same day that cash awards are paid under the
      terms of this Plan.  Such Stock Options shall have a face value equal to the percentage of salary shown on Table IV below, adjusted in the same manner and in the same proportion as cash awards are adjusted under the terms of Sections 7.01, 7.02, and
      7.03, and rounded down as necessary to grant for whole shares. The Committee at its sole discretion may choose to issue Restricted Stock or a combination of Options and Restricted Stock of an amount recommended by the Compensation Committee and
      approved by the Board of Directors of Community Trust Bancorp, Inc. subject to any limitations of the 2015 Stock Ownership Incentive Plan.

    

    

    TABLE IV

    

    

    2021 SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN

    STOCK OPTION AWARDS

    

    

    	
            Target

          	
            Stock Option Award as a % of Salary

          
	
            ROAA

          	
            EPS

          	
            CTBI CEO

          	
            CTB CEO

          	
            Group I

          	
            Group II

          	
            Group III

          
	 	
            1.29%

          	
            $3.76

          	
            10.00%

          	
               8.757%

          	
               7.50%

          	
               5.00%

          	
            2.25%

          
	
            Base

          	
            1.32%

          	
            $3.84

          	
            20.00%

          	
            17.515%

          	
            15.00%

          	
            10.00%

          	
            4.50%

          
	 	
            1.35%

          	
            $3.93

          	
            21.00%

          	
            18.375%

          	
            15.75%

          	
            10.50%

          	
            4.75%

          
	 	
            1.38%

          	
            $4.02

          	
            23.00%

          	
            20.125%

          	
            17.25%

          	
            11.50%

          	
            5.00%

          

    

    

    
      	
              •

            	
              For 2021, the targeted (base) ROAA is established as follows: ROAA of 1.32% and EPS of $3.84.

            

    

    

    

    
      	
              •

            	
              For 2021, net income target is $68,521,777.

            

    

    

    

    
      	
              •

            	
              These results are after accrual of the incentive.

            

    

    

    

    

    

    ARTICLE VIII

    

    

    MISCELLANEOUS PROVISIONS

    

    

    Section 8.01

    The Compensation Committee may elect to remove unusual, extraordinary or non-recurring items from the calculation of the earnings per share.

    

    

    Section 8.02

    The Company shall not merge into or consolidate with another entity or sell all or substantially all of its assets to another entity unless
      such other entity shall become obligated to perform the terms and conditions hereof relating to any awards already earned but not yet paid to the participant on his/her behalf.

    

    

    
      
        5

        

        

      

      
        

      
        

        

      

    

    

    

    ATTACHMENT A

    

    

    NOTICE OF PARTICIPATION

    

    

     is eligible for participation in the 2021 Plan Year for Community Trust Bancorp, Inc. Senior Management Incentive
      Compensation Plan, such participant being subject to all of the terms and conditions of said Plan.

    

    

    Compensation Committee of the Board of Directors

    

    

    BY: ___________________________________

    

    

    Dated: ____________________

    

    

    
      
        6

        

        

      

      
        

      
        

        

      

    

    

    

    ATTACHMENT B

    

    

    DESIGNATION OF BENEFICIARY

    

    

    I, , a participant in the Community Trust Bancorp, Inc. Senior Management Incentive Compensation Plan, name the following as my primary beneficiary under said Plan in the event of my
        death prior to receiving an award payable to me under said Plan.

       

    

    Name Relationship

     

    

    Address

    

    

    If the primary beneficiary predeceases me, I designate the following persons as a contingent beneficiary, in the order shown, to receive an
      award payable to me under the Plan:

       

    

    Name Relationship

     

    

    Address

    

    

       

    

    Name Relationship

     

    

    Address

    

    

       

    

    Name Relationship

     

    

    Address

    

    

    This supersedes any previous beneficiary designation made by me with respect to this Plan.  However, any compensation covered by the
      Community Trust Bancorp, Inc. Voluntary Deferred Compensation Plan shall be governed by the Beneficiary Designation applicable to that Plan.

    

    

       

    

    Date Signature of Participant

    

    

    
      7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]