Document:

Exhibit 10.22

 

SECOND
AMENDMENT TO THE

UNITED COMMUNITY BANK

EXECUTIVE SUPPLEMENTAL RETIREMENT INCOME AGREEMENT

FOR

WILLIAM M. McLAUGHLIN

 

THIS
SECOND AMENDMENT (the “Amendment”) is adopted this 1 day of February, 2012 by United Community
Bank, located in Lawrenceburg, Indiana, (the “Bank”).

 

The Bank and William M. McLaughlin (the “Executive”) are parties to a certain Executive
Supplemental Retirement Income Agreement dated April 1, 2002 and amended December 18, 2008 (collectively, the “Agreement”).
The Bank now wishes to change the terms of the benefit to be provided to the Executive in the event of Termination of Employment
prior to Benefit Age.

 

Now,
therefore, the Bank amends the Agreement as follows.

 

Section
5.1(a)(1), 5.1(a)(2), 5.1(b)(1) and 5.1(b)(2) of the Agreement shall be deleted and replaced with the following:

 

(a)
Normal Form of Payment.

 

If,
at the time of Termination of Employment the Executive has not made a Timely Election to receive a lump sum benefit, this Subsection
5.1(a) shall be controlling with respect to benefits.

 

The
Retirement Income Trust Fund, measured as of the date of Termination of Employment, shall be annuitized (using the Interest Factor)
into monthly installments and shall be payable for the Payout Period. Such payments shall commence on the first day of the month
following Termination of Employment. If the Retirement Income Trust Fund assets actually earn a rate of return during the payout
period which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to
the Retirement Income Trust Fund shall be required from the Bank to make up any shortfall. If the Retirement Income Trust Fund
assets actually earn a rate of return during the payout period which is greater than the rate of return used to annuitize the
Retirement Income Trust Fund, the final payment to the Executive (or the Beneficiary) shall distribute the excess attributable
to the higher than expected earnings. The Executive may request to receive the unpaid balance of the Retirement Income Trust Fund
at any time during the Payout Period by giving written notice of the request to the Administrator and the trustee. The lump sum
payment of the unpaid balance shall be made within thirty (30) days following such notice. If the Executive dies after payments
have commenced but before the completion of all monthly payments due hereunder, (i) the trustee of the Retirement Income Trust
Fund shall pay the Beneficiary the monthly installments for the balance of months remaining in the Payout Period, or (ii) the
Beneficiary may request to receive the unpaid balance of the Retirement Income Trust Fund in a lump sum payment. The Beneficiary
may request to receive the unpaid balance of the Retirement Income Trust Fund by giving written notice of the request to the Administrator
and the trustee. The lump sum payment of the unpaid balance shall be made within thirty (30) days following such notice.

 

     

     

    

 

At the
earlier of the Benefit Eligibility Date and the Executive’s death, the Executive’s Accrued Benefit Account (if applicable) shall
be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Benefit payments
shall commence on the earlier of the Benefit Eligibility Date or the month following the Executive’s death. In the event the Executive
dies at any time after attaining Benefit Age, but prior to commencement or completion of all the payments due and owing hereunder,
the Bank shall pay to the Beneficiary the same monthly installments as the Bank would have paid the Executive had the Executive
survived.

 

(b)
Alternative Payout Option.

 

If,
at the time of Termination of Employment the Executive has made a Timely Election to receive a lump sum benefit, this Subsection
5.1(b) shall be controlling with respect to benefits.

 

The
balance of the Retirement Income Trust Fund, measured as of the date of Termination of Employment, shall be paid to the Executive
in a lump sum within thirty (30) days following Termination of Employment.

 

The
balance of the Accrued Benefit Account (if applicable) shall be paid to the Executive, or the Beneficiary if the Executive has
died, in a lump sum on earlier of the Benefit Eligibility Date and the month following the Executive’s death.

 

IN
WITNESS WHEREOF, a duly authorized representative of the Bank has executed this Amendment as indicated below:

 

	 	Bank:
	 	 	 
	 	By:	/s/ William F. Ritzmann
	 	Its:	PRESIDENT

 

	Agreed
    and Acknowledged:	 
	 	 	 
	/s/
    William M. McLaughlin	 	 
	William
    M. McLaughlin	 	 

 

     

     

    

 

Prepared
08/25/08

 

©
2008 Clark Consulting

 

This
document is provided to assist your legal counsel in documenting your specific arrangement. The laws of the various states may
differ considerably, and this specimen is for general information only. It is not a form to be signed, nor is it to be construed
as legal advice. Failure to accurately document your arrangement could result in significant losses, whether from claims of those
participating in the arrangement, from the heirs and beneficiaries of participants, or from regulatory agencies such as the Internal
Revenue Service, the Department of Labor, or bank examiners. License is hereby granted to your legal counsel to use these materials
in documenting solely your arrangement.

 

In
general, if your bank is subject to SEC regulation, implementation of this or any other executive or director compensation program
may trigger rules requiring certain disclosures on Form 8-K within four days of implementing the program. Consult with your SEC
attorney, if applicable, to determine your responsibilities under the disclosure rules.

 

 

 

IMPORTANT
NOTICE ON CODE SECTION 409A COMPLIANCE

 

It
is critical that you consult with your legal and tax advisors to determine the impact of Internal Revenue Code Section 409A to
your particular situation. On April 10, 2007 the Treasury Department issued final regulations implementing the requirements of
Section 409A which apply to nonqualified deferred compensation arrangements.Exhibit 10.23

 

THIRD
AMENDMENT TO THE

UNITED COMMUNITY BANK

EXECUTIVE SUPPLEMENTAL RETIREMENT INCOME AGREEMENT

FOR

MICHAEL MCLAUGHLIN

 

THIS
THIRD AMENDMENT (the "Amendment") is adopted
this 21st day of August, 2013, by United Community Bank, located in Lawrenceburg, Indiana, (the "Bank").

 

The
Bank and Michael McLaughlin (the "Executive") are parties to a certain Executive Supplemental Retirement Income Agreement
dated April 1, 2002 and subsequently amended two times (collectively, the "Agreement"). The Bank now wishes to change
the timing of benefit payments from the Retirement Trust Fund.

 

Now,
therefore, the Bank amends the Agreement as follows.

 

Section
1.7 of the Agreement shall be deleted and replaced with the following:

 

	1.7	"Benefit Eligibility Date" means the date
on which the Executive is entitled to receive
benefits pursuant to Section III or V of this Agreement. It shall be the first day of the month following the later Benefit Age
or Termination of Employment.

 

The
first two (2) paragraphs of Section 3.1(a) of the Agreement shall be deleted and replaced with the following:

 

	3.1	(a) Normal Form of Payment.

 

If
(i) the Executive is employed with the Bank until reaching Benefit Age and (ii) the Executive has not made a Timely Election to
receive a lump sum benefit, this Subsection 3.1(a) shall be controlling with respect to retirement benefits.

 

The
Retirement Income Trust Fund, measured as of the date of Termination of Employment, shall be annuitized (using the Interest Factor)
into monthly installments and shall be payable for the Payout Period. Such payments shall commence on the first day of the month
following Benefit Eligibility Date. If the Retirement Income Trust Fund assets actually earn a rate of return during the payout
period which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to
the Retirement Income Trust Fund shall be required from the Bank to make up any shortfall. If the Retirement Income Trust Fund
assets actually earn a rate of return during the payout period which is greater than the rate of return used to annuitize the
Retirement Income Trust Fund, the final payment to the Executive (or the Beneficiary) shall distribute the excess attributable
to the higher than expected earnings. The Executive may request to receive the unpaid balance of the Retirement Income Trust Fund
at any time during the Payout Period by giving written notice of the request to the Administrator and the trustee.

 

     

     

    

 

The
lump sum payment of the unpaid balance shall be made within thirty (30) days following such notice. If the Executive dies after
payments have commenced but before the completion of all monthly payments due hereunder, (i) the trustee of the Retirement Income
Trust Fund shall pay the Beneficiary the monthly installments for the balance of months remaining in the Payout Period, or (ii)
the Beneficiary may request to receive the unpaid balance of the Retirement Income Trust Fund in a lump sum payment. The Beneficiary
may request to receive the unpaid balance of the Retirement Income Trust Fund by giving written notice of the request to the Administrator
and the trustee. The lump sum payment of the unpaid balance shall be made within thirty (30) days following such notice.

 

The
first two (2) paragraphs of Section 3.1(b) of the Agreement shall be deleted and replaced with the following:

 

(b)
Alternative Payout Option.

 

If
(i) the Executive is employed with the Bank until reaching Benefit Age and (ii) the Executive has made a Timely Election to receive
a lump sum benefit, this Subsection 3.1(b) shall be controlling with respect to retirement benefits.

 

The
balance of the Retirement Income Trust Fund, measured as of the date of Termination of Employment, shall be paid to the Executive
in a lump sum within thirty (30) days following Benefit Eligibility Date.

 

IN
WITNESS WHEREOF, a duly authorized representative of the Bank has executed this Amendment as indicated below:

 

	 	Bank:
	 	By:	/s/ William F. Ritzmann
	 	Its:	PRESIDENT

 

	Agreed
    and Acknowledged:	 
	 	 	 
	/s/
    W. Michael McLaughlin	 	 
	Michael 
     McLaughlin

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