Document:

Amendment #3

    Dated and Effective: January 1, 2019

    To the

    SHARED SERVICES AGREEMENT

    By and between

    FIRST SOUTHERN NATIONAL BANK

    And

    UTG, INC.

    Dated

     January 1, 2017

    

    

          Purpose: To amend and replace Item 1-Services of above said agreement in its entirety.

    

    

    
      	
              1.

            	
              Services. During the term of this
                  Agreement, the parties hereby agree to share personnel and the employee costs of certain groups of employees of both entities.  The initial Shared Services of the two entities shall be as follows:

            

    

    

    

    	 	
            UTG percentage

          	
            FSNB percentage

          
	
            Accounting

          	
            50%

          	
            50%

          
	
            Information Technology

          	
            50%

          	
            50%

          
	
            Human Resources

          	
            *

          	
            *

          
	
            Investments

          	
            50%

          	
            50%

          
	
            CLG

          	
            **

          	
            **

          
	
            Leadership

          	
            **

          	
            **

          
	
            Marketing

          	
            75%

          	
            25%

          
	
            Training

          	
            75%

          	
            25%

          

    

    

    *Human Resources shall be allocated based on the percentage of the number of individuals on the payroll system for each
        entity to the total of both entities.

    

    

    **See attached allocations per Exhibit A.

    

    

    The Shared Services of each entity shall include the base pay, bonuses paid, payroll related taxes and costs of employee
        benefits provided for each individual covered.

    

    

    Allocated costs shall first be reduced for reimbursements, if any, received from other entities or third parties.

    

    

    

    

    Additional employees or groups of employees may be added as shared services upon mutual agreement of both parties and
        attached hereto as an addendum to this Agreement.

    

    

    Corporate performance based bonuses or awards are specifically excluded from this formula and sharing arrangement.  Such
        bonuses or awards shall be borne entirely by the individual entity and determined exclusively by the management of each entity.  Individuals covered under this agreement may receive such corporate performance based bonuses from either or both
        entities.

    

    

    IN WITNESS WHEREOF,
        the parties hereto have caused this Agreement to be executed by their officers thereunto duly authorized as of the date first above written.

    

    	
             UTG, Inc.

            

          	
            First Southern National Bank 

            

          
	
            By: /s/ James P. Rousey 

            

          	
            By: /s/ Tommy Roberts 

            

          
	
            James P. Rousey 

            

          	
            Tommy Roberts 

            

          
	
            President 

            

          	
            CEO 

            

          
	
             

          	
             

          
	
            Attest: 

            

          	
            Attest: 

            

          
	
            /s/ Theodore C. Miller 

            

          	
            /s/ Theodore C. Miller 

            

          
	
            Theodore C. Miller 

            

          	
            Theodore C. Miller 

            

          
	
            Secretary 

            

          	
            Secretary 

            

          

    

    

    Shared Services Agreement FSNB/UTG Exhibit A

    

    

    CLG

    	
            Name

          	 	
            FSNB %

          	 	
            UTG %

          
	
            Joe Hafley

          	 	
            80%

          	 	
            20%

          
	
            Shay Pendygraft

          	 	
            20%

          	 	
            80%

          
	
            Leah Baker

          	 	
            20%

          	 	
            80%

          
	
            Mike Taylor

          	 	
            80%

          	 	
            20%

          

    

    

    Leadership

    	
            Name

          	 	
            FSNB %

          	 	
            UTG %

          
	
            Jess Correll

          	 	
            25%

          	 	
            75%

          
	
            Doug Ditto

          	 	
            25%

          	 	
            75%

          
	
            Cynthia Woodcock

          	 	
            25%

          	 	
            75%

          
	
            Mason McFarland

          	 	
            50%

          	 	
            50%

          
	
            Jim Rousey

          	 	
            50%

          	 	
            50%

          
	
            Candice Smith

          	 	
            50%

          	 	
            50%

          
	
            Suzanne Short

          	 	
            50%

          	 	
            50%

          
	
            Sara Downey

          	 	
            50%

          	 	
            50%

          
	
            Kayla Grubbs

          	 	
            50%

          	 	
            50%EX-10.12

 Exhibit 10.12 

MEIRAGTX HOLDINGS PLC 

2018 INCENTIVE AWARD PLAN 

SUB-PLAN FOR UK EMPLOYEES 

 

	1.	 Purpose 

Pursuant to the powers granted by the Administrator in Section 10.5 of the MeiraGTx Holdings plc 2018 Incentive Award Plan (as it may be
amended or restated from time to time, the “Plan”), the Administrator has adopted this Sub-Plan (the “Sub-Plan”). The purpose of the Sub-Plan is to promote the success and enhance the value of MeiraGTx Holdings plc (the “Company”), by linking the individual interests of Employees, to those of Company shareholders and by providing
such individuals with an incentive for outstanding performance to generate superior returns to Company shareholders. The Sub-Plan is further intended to provide flexibility to the Company in its ability to
motivate, attract, and retain the services of Employees upon whose judgment, interest, and special effort the successful conduct of the Company’s operation is largely dependent. Only Employees may receive Awards under the Sub-Plan. 
  

	2.	 Definitions, Construction and Eligibility 

(a) Capitalized terms used in the Sub-Plan which are not defined herein shall have the meaning given in
the Plan, and where the context requires any references to the “Plan” in those definitions shall be a reference to the Sub-Plan. The singular pronoun shall include the plural where the context so
indicates. 
 (b) In the event of a conflict between the terms of the Sub-Plan and the Plan with
respect to Awards granted to Employees based in the United Kingdom under the Sub-Plan, the terms of the Sub-Plan will control. 

 

	2.1	 Definitions 

Wherever the following terms are: (i) used in the Sub-Plan; or (ii) used in the Plan but
apply to Awards made under the Sub-Plan, they shall have the meanings specified below, unless the context clearly indicates otherwise: 

(c) “Award” means, individually, or collectively, a grant under the Sub-Plan of an Option, a Share Appreciation Right, a Restricted
Share award, a Restricted Share Unit award or an Other Share or Cash Based Award; 
 (d) “Service Provider” shall mean any person
who is an Employee. 
  

	2.2	 Eligibility 

The Sub-Plan forms the rules of the employee share scheme applicable to Awards made under the Sub-Plan to Employees of the Company and any Subsidiaries based in the United Kingdom or in any other jurisdiction at the discretion of the Administrator. Other Service Providers who are not Employees (such as
Consultants and non-employee Directors) are not eligible to receive Awards and become Participants under this Sub-Plan. References to the phrase “Service
Provider” shall be interpreted as referring only to Employees when that phrase in the Plan is used in the context of the Sub-Plan and Awards granted to Employees under this
Sub-Plan. 

	3.	 Administration and Delegation 

The provisions of Article 3 of the Plan shall apply to this Sub-Plan as if references to the Plan are
references to the Sub-Plan. 
  

	4.	 Shares Available for Awards 

(a) The provisions of Article 4 of the Plan shall apply to this Sub-Plan as if references to the Plan
are references to the Sub-Plan. 
 (b) The aggregate number of Shares which may be issued or
transferred pursuant to Awards under the Sub-Plan, when taken together with the number of Shares which may be issued or transferred pursuant to Awards under the Plan or any other
sub-plan, shall not exceed the limits specified by Article 4 of the Plan, as amended from time to time. 
  

	5.	 Options and Share Appreciation Rights 

(a) Except as set out below, the provisions of Article 5 of the Plan shall apply to this Sub-Plan as if
references to the Plan are references to the Sub-Plan. 
 (b) Unless otherwise determined
appropriate by the Administrator, any Option granted under this Sub-Plan shall be a Non-Qualified Stock Option. 

 

	6.	 Restricted Shares; Restricted Share Units 

The provisions of Article 6 of the Plan shall apply to this Sub-Plan as if references to the Plan are
references to the Sub-Plan. On request by the Company, Participants tax resident in the United Kingdom will be required to make an election under Section 431 of Chapter 2 Income Tax (Earnings and
Pensions) Act 2003 (“ITEPA”) pursuant to which, for the relevant tax purposes, the market value of the Shares acquired will be calculated as if the Shares were not restricted. Participants tax resident in other jurisdictions may be
required to make equivalent elections appropriate to their jurisdictions. 
  

	7.	 Other Share or Cash Based Awards 

The provisions of Article 7 of the Plan shall apply to this Sub-Plan as if references to the Plan are
references to the Sub-Plan. 
  

	8.	 Adjustments For Changes In Ordinary Shares And Certain Other Events 

The provisions of Article 8 of the Plan shall apply to this Sub-Plan as if references to the Plan are
references to the Sub-Plan. 

  
 2 

	9.	 General Provisions Applicable To Awards 

(a) Except as set out below, the provisions of Article 9 of the Plan shall apply to this Sub-Plan as if
references to the Plan are references to the Sub-Plan. 
 (b) Section 9.5 of the Plan shall be
amended so that the terms “taxes required by law to be withheld” and any similar phrases relating to tax obligations or tax liability when used in Section 9.5 shall include income tax, employee’s National Insurance contributions
and (at the discretion of the Company) employer’s National Insurance contributions or other similar taxes arising in any jurisdiction (any a “Tax Liability”). The Participant will indemnify and keep indemnified the Company and
his/her employing company, if different, from and against any liability for or obligation to pay any Tax Liability arising in consequence of any Award. 
  

	10.	 Miscellaneous 

(a) Except as set out below, the provisions of Article 10 of the Plan shall apply to this Sub-Plan as
if references to the Plan are references to the Sub-Plan. 
 (b) The following language set out
below is in addition to the terms of Article 10: 
 “Neither the Sub-Plan nor any Award made
under the Sub-Plan shall give the Participant any rights to compensation or damages including for any loss or potential loss that the Participant may suffer by reason of being unable to exercise any Option or
forfeiting any Award or Shares as a result of the termination of the Sub-Plan, the lapsing or termination of an Award or the Participant’s Termination of Service including where any Termination of Service
is subsequently held to be wrongful or unfair.” 
 (c) The following language set out below shall replace Section 10.9: 

“The Company and all its Subsidiaries may transfer, collect, use, process or disclose, in electronic or other form, such information to
third parties, including where they are situated outside the European Economic Area in countries where the level of data protection may not be as high as in the Participant’s country of residence, in the event that such disclosure is in their
view required for the performance of their obligations under the Plan. The Company and all Group Companies shall ensure that such collection, use, processing and transfers are made in accordance with the EU General Data Protection Regulation and
other applicable data protection laws in any other jurisdiction.” 
  

	11.	 Definitions 

(a) Except as set out below, the provisions of Article 11 of the Plan shall apply to this Sub-Plan as
if references to the Plan are references to the Sub-Plan. 
 (b) Section 11.11
(“Consultant”) shall not apply to this Sub-Plan. 
 (c) Section 11.38, (“Service
Provider”) shall mean an Employee. 

  
 3

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