Document:

Exhibit 10.5

 

MINEOLA COMMUNITY BANK

DEFERRED INCENTIVE COMPENSATION PLAN

 

THIS DEFERRED INCENTIVE
COMPENSATION PLAN (this “Plan”), adopted this 18th day of December, 2013, by Mineola Community Bank located in Mineola,
Texas (hereinafter referred to as the “Bank”).

 

WITNESSETH:

 

WHEREAS, the Bank and
the Participants intend this Plan shall at all times be administered and interpreted in compliance with Code Section 409A; and

 

WHEREAS, the Bank intends
this Plan shall at all times be administered and interpreted in such a manner as to constitute an unfunded nonqualified deferred
compensation arrangement, maintained primarily to provide supplemental retirement benefits for the Participants, members of select
group of management or highly compensated employees of the Bank;

 

NOW THEREFORE, in consideration
of the premises forgoing the Bank hereby states as follows:

 

ARTICLE 1

DEFINITIONS

 

For the purpose of
this Plan, the following phrases or terms shall have the indicated meanings:

 

1.1             
“Administrator” means the Board or its designee.

 

1.2             
“Affiliate” means any business entity with whom the Bank would be considered a single employer under
Section 414(b) and 414(c) of the Code. Such term shall be interpreted in a manner consistent with the definition of “service
recipient” contained in Code Section 409A.

 

1.3             
“Beneficiary” means the person or persons designated in writing by the Participant to receive benefits
hereunder in the event of the Participant’s death.

 

1.4             
“Beneficiary Designation Form” means the form established from time to time by the Administrator that
the Participant completes signs and returns to the Administrator to designate one or more Beneficiaries.

 

1.5             
“Board” means the Board of Directors of the Bank.

 

1.6              “Cause”
means any of the following acts or circumstances: gross negligence or gross neglect of duties to the Bank; conviction of a
felony or of a gross misdemeanor involving moral turpitude in connection with the Participant’s employment with the
Bank; or fraud, disloyalty, dishonesty or willful violation of any law or significant Bank policy committed in connection
with the Participant’s employment and resulting in a material adverse effect on the Bank.

 

    

     

    

 

1.7             
“Change in Control” means a change in the ownership or effective control of the Bank, or in the ownership
of a substantial portion of the assets of the Bank, as such change is defined in Code Section 409A and regulations thereunder.

 

1.8             
“Claimant” means a person who believes that he or she is being denied a benefit to which he or she is
entitled hereunder.

 

1.9             
“Code” means the Internal Revenue Code of 1986, as amended.

 

1.10           
“Contributions” means the amounts determined in accordance with the terms of Exhibit 1.

 

1.11           
“Deferral Account” means the Bank’s accounting of the accumulated Contributions plus accrued interest.

 

1.12          
  “Disability” means a condition of the Participant whereby the Participant either: (i) is unable to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected
to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any
medically determinable physical or mental impairment that 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 three months
under an accident and health plan covering employees of the Bank. The Administrator will determine whether the Participant has
incurred a Disability based on its own good faith determination and may require the Participant to submit to reasonable physical
and mental examinations for this purpose. The Participant will also be deemed to have incurred a Disability if determined to be
totally disabled by the Social Security Administration or in accordance with a disability insurance program, provided that the
definition of disability applied under such disability insurance program complies with the initial sentence of this Section.

 

1.13           
“Early Termination” means Separation from Service before Normal Retirement Age except when such Separation
from Service occurs following a Change in Control or due to termination for Cause or Disability.

 

1.14           
“Effective Date” means January 1, 2013.

 

1.15           
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

 

1.16           
“Exhibit A” means the attached exhibit detailing the Bank’s calculation of Contributions. Within
the first sixty (60) days of each Plan Year the Bank may amend Exhibit A for the Plan Year, any other changes to Exhibit a shall
not be effective until the Plan Year following the change.

 

    

     

    

 

1.17          
 “Normal Retirement Age” means the day the Participant attains age sixty-five (65).

 

1.18           
“Participant” means an employee of the Bank (i) who is selected to participate in the Plan, (ii) who
elects to participate in the Plan, (iii) who signs a Participation Agreement, (iv) whose Participation Agreement, Beneficiary Designation
Form and Deferral Election Form are accepted by the Administrator, (v) who commences participation in the Plan, and (vi) whose
participation has not terminated.

 

1.19          
“Participation Agreement” means the form established by the Administrator that the Participant completes,
signs and returns to the Administrator to acknowledge participation in the Plan.

 

1.20       
     “Plan Year” means each twelve (12) month period commencing on January 1 and ending on
December 31 of each year. The initial Plan Year shall commence on the Effective Date and end on the following December
31.

 

1.21           
“Return on Equity” means the Bank’s after-tax net income for the most recent fiscal year, adjusted
for extraordinary items, divided by the Bank’s average equity for the fiscal year, as determined by the Bank’s independent
auditor based upon certified financial statements for the pertinent year.

 

1.22           
“Separation from Service” means, with respect to any Participant, a termination of the Participant’s
service with the Bank and its Affiliates for reasons other than death. A Separation from Service may occur as of a specified date
for purposes of the Plan even if the Participant continues to provide some services for the Bank or its Affiliates after that date,
provided that the facts and circumstances indicate that the Bank and the Participant reasonably anticipated at that date that either
no further services would be performed after that date, or that the level of bona fide services the Participant would perform after
such date (whether as an employee or as an independent contractor) would permanently decrease to no more than twenty percent (20%)
of the average level of bona fide services performed over the immediately preceding thirty-six (36) month period (or the full period
during which the Participant performed services for the Bank, if that is less than thirty-six (36) months). A Separation from Service
will not be deemed to have occurred while the Participant is on military leave, sick leave, or other bona fide leave of absence
if the period of such leave does not exceed six (6) months or, if longer, the period for which a statute or contract provides the
Participant with the right to reemployment with the Bank. If the Participant’s leave exceeds six (6) months but the Participant
is not entitled to reemployment under a statute or contract, the Participant incurs a Separation of Service on the next day following
the expiration of such six (6) month period. In determining whether a Separation of Service occurs the Administrator shall take
into account, among other things, the definition of “service recipient” and “employer” set forth in Treasury
regulation §1.409A-1(h)(3). The Administrator shall have full and final authority, to determine conclusively whether a Separation
from Service occurs, and the date of such Separation from Service.

 

 1.23         
 “Specified Employee” means an individual that satisfies the definition of a “key employee”
of the Bank as such term is defined in Code §416(i) (without regard to Code §416(i)(5)), provided that the stock of the
Bank is publicly traded on an established securities market or otherwise, as defined in Code §1.897-1(m). If a Participant
is a key employee at any time during the twelve (12) months ending on December 31, the Participant is a Specified Employee for
the twelve (12) month period commencing on the first day of the following April.

 

    

     

    

 

ARTICLE 2

ELIGIBILITY AND PARTICIPATION

 

2.1       Selection
by Administrator. Participation in the Plan shall be limited to those employees of the Bank selected by the Administrator,
in its sole discretion, to participate in the Plan. Participation in the Plan shall be limited to a select group of management
or highly compensated individuals employed by or providing services to the Bank.

 

2.2       Enrollment
Requirements. As a condition to participation, and in addition to the requirements in Section 2.1, each selected individual
shall complete, execute and return to the Administrator (i) a Participation Agreement Form, (ii) a Beneficiary Designation Form
and (iii) a Deferral Election Form. In addition, the Administrator may establish from time to time such other enrollment requirements
as it determines in its sole discretion are necessary.

 

2.3       Eligibility;
Commencement of Participation. Provided an individual selected to participate in the Plan has met all enrollment requirements
set forth in this Plan and required by the Administrator, that individual will become a Participant, be covered by the Plan and
will be eligible to receive benefits at the time and in the manner provided hereunder, subject to the provisions of the Plan.

 

2.4       Termination
of Participation. If the Administrator determines that a Participant no longer qualifies as a member of a select group of management
or highly compensated employees as such group is determined according to ERISA, the Administrator shall have the right to prevent
the Participant from making any further Deferrals hereunder.

 

ARTICLE
3

CONTRIBUTIONS
and vesting

 

3.1       Contributions.
Within thirty (30) days following the end of each Plan Year the Bank shall make Contributions to the Plan in the amounts determined
according to the terms of Exhibit A. Each Participant shall vest in twenty percent (20%) of each Contribution each Plan Year.

 

3.2       Clawbacks. If
within five (5) years following any Contribution, the Bank is forced to restate any of its financial results and such revised
results would have led to a lower Contribution than was originally calculated, the Bank shall retroactively reduce such
Contribution and the Deferral Account balance for each Participant to reflect the revised results. If any portion of the
Contribution has been paid to the Participant prior to such reduction, then future distributions, beginning with the next
distribution, shall be reduced or eliminated until the benefits received by the Participants together with the Deferral
Account balances reflect the revised results.

 

    

     

    

 

Article
4

DEFFERAL
ACCOUNT

 

4.1       Establishing
and Crediting. The Bank shall establish a Deferral Account on its books for each Participant and shall credit to the Deferral
Account the following amounts:

 

(a)       Any
Contributions hereunder; and

(b)       Interest
as follows: on the last day of each month interest shall be credited on the Deferral Account balance at an annual rate equal to
Return on Equity.

 

4.2       Recordkeeping
Device Only. The Deferral Account is solely a device for measuring amounts to be paid under this Plan and is not a trust fund
of any kind.

 

ARTICLE 5

PAYMENT OF BENEFITS

 

5.1       Normal
Benefit. Each Plan Year the Bank shall distribute each Participant twenty percent (20%) of the Contributions made on the behalf
of the Participant for each of the five (5) Plan Years immediately preceding such distribution. This benefit shall be paid in a
lump sum within the first (60) days of the Plan Year.

 

5.2       Retirement
Benefit. Upon a Participant’s Separation from Service at or after Normal Retirement Age, the Bank shall pay the Participant
the full Deferral Account balance without regard to any vesting criteria. This benefit shall be paid in a lump sum within thirty
(30) days following Separation from Service.

 

5.3       Early
Termination Benefit. If a Participant experiences an Early Termination, the Participant shall forfeit any unpaid benefits hereunder
and the Bank shall be under no further obligation to pay any benefits to the Executive or the Beneficiary.

 

5.4       Disability
Benefit. If a Participant experiences a Disability prior to Normal Retirement Age, the Bank shall pay the Participant the full
Deferral Account balance without regard to any vesting criteria. This benefit shall be paid in a lump sum within thirty (30) days
following Disability.

 

5.5       Change
in Control Benefit. Upon a Change in Control the Bank shall pay each Participant the Participant’s full Deferral Account
balance without regard to any vesting criteria. This benefit shall be paid in a lump sum within thirty (30) days following Change
in Control.

 

    

     

    

 

5.6       Death
Benefit. If a Participant dies prior to Separation from Service, the Bank shall pay the Participant’s Beneficiary the
Participant’s full Deferral Account balance without regard to any vesting criteria. This benefit shall be paid in a lump
sum within thirty (30) days following the Participant’s death.

 

5.7       Death
Subsequent to Commencement of Benefit Payments. In the event the Participant dies after Separation from Service, but prior
to receiving all payments due and owing hereunder, the Bank shall pay the Beneficiary remaining Deferral Account balance. This
benefit shall be paid in a lump sum within thirty (30) days following the Participant’s death.

 

5.8       Termination
for Cause. If the Bank terminates a Participant’s service for Cause, then the Participant shall forfeit all remaining
benefits hereunder.

 

5.9       Restriction
on Commencement of Distributions.  Notwithstanding any provision of this Plan to the contrary, if the Participant is considered
a Specified Employee at the time of Separation from Service, the provisions of this Section shall govern all distributions hereunder.
Distributions which would otherwise be made to the Participant due to Separation from Service shall not be made during the first
six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Participant during
such period shall be accumulated and paid to the Participant in a lump sum on the first day of the seventh month following Separation
from Service, or if earlier, upon the Participant’s death. All subsequent distributions shall be paid as they would have
had this Section not applied.

 

5.10     Acceleration
of Payments. Except as specifically permitted herein, no acceleration of the time or schedule of any payment may be made hereunder.
Notwithstanding the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation §1.409A-3(j)(4)
in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements
with the federal government; (iii) in compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts (but
not in excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes that may
become due at any time that the Plan fails to meet the requirements of Code Section 409A.

 

5.11     Delays
in Payment by Bank. A payment may be delayed to a date after the designated payment date under any of the circumstances described
below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment
will not constitute a subsequent deferral election, so long as the Bank treats all payments to similarly situated Participants
on a reasonably consistent basis.

 

(a)       Payments
subject to Code Section 162(m). If the Bank reasonably anticipates that the Bank’s deduction with respect to any
distribution under this Plan would be limited or eliminated by application of Code Section 162(m), then to the extent deemed
necessary by the Bank to ensure that the entire amount of any distribution from this Plan is deductible, the Bank may delay
payment of any amount that would otherwise be distributed under this Plan. The delayed amounts shall be distributed to the
Participant (or the Beneficiary in the event of the Participant’s death) at the earliest date the Bank reasonably
anticipates that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section
162(m).

 

    

     

    

 

(b)       Payments
that would violate Federal securities laws or other applicable law. A payment may be delayed where the Bank reasonably anticipates
that the making of the payment will violate Federal securities laws or other applicable law provided that the payment is made at
the earliest date at which the Bank reasonably anticipates that the making of the payment will not cause such violation. The making
of a payment that would cause inclusion in gross income or the application of any penalty provision of the Internal Revenue Code
is not treated as a violation of law.

 

(c)       Solvency.
Notwithstanding the above, a payment may be delayed where the payment would jeopardize the ability of the Bank to continue as a
going concern.

 

5.12       Treatment
of Payment as Made on Designated Payment Date. Solely for purposes of determining compliance with Code Section 409A, any payment
under this Plan made after the required payment date shall be deemed made on the required payment date provided that such payment
is made by the latest of: (i) the end of the calendar year in which the payment is due; (ii) the 15th day of the third
calendar month following the payment due date; (iii) if Bank cannot calculate the payment amount on account of administrative impracticality
which is beyond the Participant’s control, the end of the first calendar year which payment calculation is practicable; and
(iv) if Bank does not have sufficient funds to make the payment without jeopardizing the Bank’s solvency, in the first calendar
year in which the Bank’s funds are sufficient to make the payment.

 

5.13       Facility
of Payment. If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Administrator
may make such distribution: (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his
or her residence; or (ii) to the conservator or administrator or, if none, to the person having custody of an incompetent payee.
Any such distribution shall fully discharge the Bank and the Administrator from further liability on account thereof.

 

5.14       Excise
Tax Limitation. Notwithstanding any provision of this Plan to the contrary, if any benefit payment hereunder would be treated
as an “excess parachute payment” under Code Section 280G, the Bank shall reduce such benefit payment to the extent
necessary to avoid treating such benefit payment as an excess parachute payment. The Participant shall be entitled to only the
reduced benefit and shall forfeit any amount over and above the reduced amount.

 

5.15       Changes
in Form of Timing of Benefit Payments. The Bank and the Participant may, subject to the terms hereof, amend this Plan to delay
the timing or change the form of payments. Any such amendment:

 

(a)       must
take effect not less than twelve (12) months after the amendment is made;

 

(b)       must,
for benefits distributable due solely to the arrival of a specified date, or on account of Separation from Service or Change in
Control, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally
scheduled to be made;

 

(c)       must,
for benefits distributable due solely to the arrival of a specified date, be made not less than twelve (12) months before distribution
is scheduled to begin; and

 

(d)       may
not accelerate the time or schedule of any distribution.

 

    

     

    

 

Article
6

Beneficiaries

 

6.1       Designation
of Beneficiaries. The Participant may designate any person to receive any benefits payable under the Plan upon the Participant’s
death, and the designation may be changed from time to time by the Participant by filing a new designation. Each designation will
revoke all prior designations by the Participant, shall be in the form prescribed by the Administrator and shall be effective only
when filed in writing with the Administrator during the Participant’s lifetime. If the Participant names someone other than
the Participant’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent
is required to be provided in a form designated by the Administrator, executed by the Participant’s spouse and returned to
the Administrator. The Participant’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases
the Participant or if the Participant names a spouse as Beneficiary and the marriage is subsequently dissolved.

 

6.2       Absence
of Beneficiary Designation. In the absence of a valid Beneficiary designation, or if, at the time any benefit payment is due
to a Beneficiary, there is no living Beneficiary validly named by the Participant, the Bank shall pay the benefit payment to the
Participant’s spouse. If the spouse is not living then the Bank shall pay the benefit payment to the Participant’s
living descendants per stirpes, and if there no living descendants, to the Participant’s estate. In determining the
existence or identity of anyone entitled to a benefit payment, the Bank may rely conclusively upon information supplied by the
Participant’s personal representative, executor, or administrator.

 

Article
7

		ADMINISTRATION	

 

 

7.1       Administrator
Duties. The Administrator shall be responsible for the management, operation, and administration of the Plan. When making a
determination or calculation, the Administrator shall be entitled to rely on information furnished by the Bank, Participant or
Beneficiary. No provision of this Plan shall be construed as imposing on the Administrator any fiduciary duty under ERISA or other
law, or any duty similar to any fiduciary duty under ERISA or other law.

 

7.2       Administrator
Authority. The Administrator shall enforce this Plan in accordance with its terms, shall be charged with the general administration
of this Plan, and shall have all powers necessary to accomplish its purposes.

 

    

     

    

 

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

 

7.4       Compensation,
Expenses and Indemnity. The Administrator shall serve without compensation for services rendered hereunder. The Administrator
is authorized at the expense of the Bank to employ such legal counsel and recordkeeper as it may deem advisable to assist in the
performance of its duties hereunder. Expense and fees in connection with the administration of this Plan shall be paid by the Bank.

 

7.5       Bank
Information. The Bank shall supply full and timely information to the Administrator on all matters relating to the Participant’s
compensation, death, Disability or Separation from Service, and such other information as the Administrator reasonably requires.

 

7.6       Termination
of Participation. If the Administrator determines in good faith that the Participant no longer qualifies as a member of a select
group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right,
in its sole discretion, to prohibit the Participant from making any additional Deferrals hereunder.

 

7.7       Compliance
with Code Section 409A. The Bank and the Participants intend that the Plan comply with the provisions of Code Section 409A
to prevent the inclusion in gross income of any amounts deferred hereunder in a taxable year prior to the year in which amounts
are actually paid to the Participant or Beneficiary. This Plan shall be construed, administered and governed in a manner that affects
such intent, and the Administrator shall not take any action that would be inconsistent therewith.

 

Article
8

Claims
and Review Procedures

 

8.1       Claims
Procedure. A Claimant who has not received benefits under this Plan that he or she believes should be distributed shall make
a claim for such benefits as follows.

 

(a)       Initiation
 – Written Claim. The Claimant initiates a claim by submitting to the Administrator a written claim for the benefits.
If such a claim relates to the contents of a notice received by the Claimant, the claim must be made within sixty (60) days
after such notice was received by the Claimant. All other claims must be made within one hundred eighty (180) days of the
date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination desired
by the Claimant.

 

    

     

    

 

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

(c)       Notice
of Decision. If the Administrator denies part or all of the claim, the Administrator shall notify the Claimant in writing of
such denial. The Administrator shall write the notification in a manner calculated to be understood by the Claimant. The notification
shall set forth: (i) the specific reasons for the denial; (ii) a reference to the specific provisions of this Plan on which the
denial is based; (iii) a description of any additional information or material necessary for the Claimant to perfect the claim
and an explanation of why it is needed; (iv) an explanation of this Plan’s review procedures and the time limits applicable
to such procedures; and (v) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following
an adverse benefit determination on review.

 

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

 

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

 

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

 

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

 

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

 

(e)       Notice
of Decision. The Administrator shall notify the Claimant in writing of its decision on review. The Administrator shall
write the notification in a manner calculated to be understood by the Claimant. The notification shall set forth: (a) the
specific reasons for the denial; (b) a reference to the specific provisions of this Plan on which the denial is based; (c) a
statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all
documents, records and other information relevant (as defined in applicable ERISA regulations) to the Claimant’s claim
for benefits; and (d) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a).

 

    

     

    

 

ARTICLE 9

AMENDMENT AND TERMINATION

 

9.1       Plan
Amendment Generally. This Plan may be amended only by a written agreement signed by the Bank, provided that such amendment
does not reduce or eliminate any vested benefit hereunder.

 

9.2       Amendment to
Insure Proper Characterization of Plan. Notwithstanding anything in this Plan to the contrary, the Plan may be amended by
the Bank at any time, if found necessary in the opinion of the Bank, i) to ensure that the Plan is characterized as plan of deferred
compensation maintained for a select group of management or highly compensated employees as described under ERISA, ii) to conform
the Plan to the requirements of any applicable law or iii) to comply with the written instructions of the Bank’s auditors
or banking regulators.

 

9.3       Plan
Termination Generally. This Plan may be terminated only by a written document signed by the Bank. In case of such termination,
the benefit to be paid to each Participant hereunder shall be the Participant’s vested Deferral Account balance. However,
except as provided in Section 9.4, Plan termination shall not cause a distribution of benefits hereunder. Rather, upon termination
benefit distributions will be made at the earliest distribution event permitted under Article 5.

 

9.4       Effect
of Complete Termination. Notwithstanding anything to the contrary in Section 9.3, and subject to the requirements of Code Section
409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Bank may completely terminate and liquidate the Plan.
In the event of such a complete termination, the Bank shall pay the Deferral Account balance to the Participant. Such complete
termination of the Plan shall occur only under the following circumstances and conditions.

 

(a)       Corporate
Dissolution or Bankruptcy. The Bank may terminate and liquidate this Plan within twelve (12) months of a corporate dissolution
taxed under Code Section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that
all benefits paid under the Plan are included in the Participant’s gross income in the latest of: (i) the calendar year which
the termination occurs; (ii) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or
(iii) the first calendar year in which the payment is administratively practicable.

    

     

    

 

(b)       Change
in Control. The Bank may terminate and liquidate this Plan by taking irrevocable action to terminate and liquidate within the
thirty (30) days preceding or the twelve (12) months following a Change in Control. This Plan will then be treated as terminated
only if all substantially similar arrangements sponsored by the Bank which are treated as deferred under a single plan under Treasury
Regulations §1.409A-1(c)(2) are terminated and liquidated with respect to each Participant who experienced the Change in Control
so that the Participants and any participants in any such similar arrangements are required to receive all amounts of compensation
deferred under the terminated arrangements within twelve (12) months of the date the Bank takes the irrevocable action to terminate
the arrangements.

 

(c)       Discretionary
Termination. The Bank may terminate and liquidate this Plan provided that: (i) the termination does not occur proximate to
a downturn in the financial health of the Bank; (ii) all arrangements sponsored by the Bank and Affiliates that would be aggregated
with any terminated arrangements under Treasury Regulations §1.409A-1(c) are terminated; (iii) no payments, other than payments
that would be payable under the terms of this Plan if the termination had not occurred, are made within twelve (12) months of the
date the Bank takes the irrevocable action to terminate this Plan; (iv) all payments are made within twenty-four (24) months following
the date the Bank takes the irrevocable action to terminate and liquidate this Plan; and (v) neither the Bank nor any of its Affiliates
adopt a new arrangement that would be aggregated with any terminated arrangement under Treasury Regulations §1.409A-1(c) if
the Participant participated in both arrangements, at any time within three (3) years following the date the Bank takes the irrevocable
action to terminate this Plan.

 

Article
10

MISCELLANEOUS

 

10.1       No
Effect on Other Rights. This Plan, and each Participant’s Participation Agreement constitute the entire agreement between
the Bank and the Participant as to the subject matter hereof. No rights are granted to the Participants by virtue of this Plan
other than those specifically set forth herein. Nothing contained herein will confer upon any Participant the right to be retained
in the service of the Bank nor limit the right of the Bank to discharge or otherwise deal with the Participant without regard to
the existence hereof.

 

10.2       State
Law. To the extent not governed by ERISA, the provisions of this Plan shall be construed and interpreted according to the internal
law of the State of Texas without regard to its conflicts of laws principles.

 

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

 

10.4       Nonassignability.
Benefits under this Plan cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

 

    

     

    

 

10.5       Unsecured
General Creditor Status. Payment to the Participant or any Beneficiary hereunder shall be made from assets which shall continue,
for all purposes, to be part of the general, unrestricted assets of the Bank and no person shall have any interest in any such
asset by virtue of any provision of this Plan. The Bank’s obligation hereunder shall be an unfunded and unsecured promise
to pay money in the future. In the event that the Bank purchases an insurance policy insuring the life of the Participant to recover
the cost of providing benefits hereunder, neither the Participant nor the Beneficiary shall have any rights whatsoever in said
policy or the proceeds therefrom.

 

10.6       Unclaimed
Benefits. The Participant shall keep the Bank informed of the Participant’s current address and the current address of
the Beneficiary. If the location of the Participant is not made known to the Bank within three years after the date upon which
any payment of any benefits may first be made, the Bank shall delay payment of the Participant’s benefit payment(s) until
the location of the Participant is made known to the Bank; however, the Bank shall only be obligated to hold such benefit payment(s)
for the Participant until the expiration of three (3) years. Upon expiration of the three (3) year period, the Bank may discharge
its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Bank by the end of an
additional two (2) month period following expiration of the three (3) year period, the Bank may discharge its obligation by payment
to the Participant’s estate. If there is no estate in existence at such time or if such fact cannot be determined by the
Bank, the Participant and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Plan.

 

10.7       Removal.
Notwithstanding anything in this Plan to the contrary, the Bank shall not distribute any benefit under this Plan if the Participant
is subject to a final removal or prohibition order issued pursuant to Section 8(e) of the Federal Deposit Insurance Act. Furthermore,
any payments made to the Participant pursuant to this Plan shall, if required, comply with 12 U.S.C. 1828, FDIC Regulation 12 CFR
Part 359 and any other regulations or guidance promulgated thereunder.

 

10.8       Notice.
Any notice, consent or demand required or permitted to be given to the Bank or Administrator under this Plan shall be sufficient
if in writing and hand-delivered or sent by registered or certified mail to the Bank’s principal business office. Any notice
or filing required or permitted to be given to the Participant or Beneficiary under this Plan shall be sufficient if in writing
and hand-delivered or sent by mail to the last known address of the Participant or Beneficiary, as appropriate. Any notice shall
be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or on the receipt
for registration or certification.

 

10.9       Headings
and Interpretation. Headings and sub-headings in this Plan are inserted for reference and convenience only and shall not
be deemed part of this Plan. Wherever the fulfillment of the intent and purpose of this Plan requires and the context will
permit, the use of the masculine gender includes the feminine and use of the singular includes the plural.

 

    

     

    

 

10.10       Alternative
Action. In the event it becomes impossible for the Bank or the Administrator to perform any act required by this Plan due to
regulatory or other constraints, the Bank or Administrator may perform such alternative act as most nearly carries out the intent
and purpose of this Plan and is in the best interests of the Bank, provided that such alternative act does not violate Code Section
409A.

 

10.11       Coordination
with Other Benefits. The benefits provided for the Participant or the Beneficiary under this Plan are in addition to any other
benefits available to the Participant under any other plan or program for employees of the Bank. This Plan shall supplement and
shall not supersede, modify, or amend any other such plan or program except as may otherwise be expressly provided herein.

 

10.12       Inurement.
This Plan shall be binding upon and shall inure to the benefit of the Bank, its successor and assigns, and the Participant, the
Participant’s successors, heirs, executors, administrators, and the Beneficiary.

 

10.13       Tax
Withholding. The Bank may make such provisions and take such action as it deems necessary or appropriate for the withholding
of any taxes which the Bank is required by any law or regulation to withhold in connection with any benefits under the Plan. The
Participant shall be responsible for the payment of all individual tax liabilities relating to any benefits paid hereunder.

 

10.14       Aggregation
of Plan. If the Bank offers other account balance deferred compensation arrangements in addition to this Plan, this Plan and
those arrangements shall be treated as a single plan to the extent required under Code Section 409A.

 

 

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

 

Bank:

 

	By:	/s/ James H. Herlocker, III	 
	Its:	President	 

 

    

     

    

 

MINEOLA COMMUNITY BANK

DEFERRED INCENTIVE COMPENSATION PLAN

 

PARTICIPATION AGREEMENT

 

 

I, ____________________________,
an employee selected by the Administrator as described in Section 2.1 of the Mineola Community Bank Deferred Incentive Compensation
Plan (the “Plan”) dated _________________, hereby elect to become a Participant of the Plan in accordance with Section
2.2 of the Plan.

 

I acknowledge that
I have read the Plan document and agree to be bound by its terms.

 

Executed this _______________ day of __________________,
201___.

 

 

	 	 	 
	 	 	Participant

 

 

Received by the Administrator this ________
day of ___________________, 201___.

 

 

	By:	 	 	__________________________________________
	Title:	 	 	__________________________________________

 

    

     

    

 

MINEOLA COMMUNITY BANK

DEFERRED INCENTIVE COMPENSATION PLAN

 

Beneficiary Designation for Brittany
Bessonett

 

I designate the following
as Beneficiary under this Plan:

 

Primary

 

	 	 	 	 	%
	 	 	 	 	%

 

Contingent

 

	 	 	 	 	%
	 	 	 	 	%

 

 

I understand that
I may change this beneficiary designation by delivering a new written designation to the Administrator, which shall be effective
only upon receipt by the Administrator prior to my death. I further understand that the designation will be automatically revoked
if the Beneficiary predeceases me or if I have named my spouse as Beneficiary and our marriage is subsequently dissolved.

 

Signature:_________________________________________             Date:______________________

 

 

	
        SPOUSAL CONSENT (Required
only if Administrator requests and someone other than spouse is named Beneficiary)

         

        I consent to the beneficiary designation
        above. I also acknowledge that if I am named Beneficiary and my marriage is subsequently dissolved, the beneficiary designation
        will be automatically revoked.

         

        Spouse Name:_______________________________

         

        Signature:_______________________________                       Date:                                                     

         

        

        

        

        

 

 

Received by the Administrator this ________
day of ___________________, 20__

 

	By:	 	 	 
	Title:	 	 	 

 

    

     

    

 

MINEOLA COMMUNITY BANK

DEFERRED INCENTIVE COMPENSATION PLAN

 

Exhibit A

 

Each Plan Year the
Bank shall make Contributions to the Deferral Accounts of the Participants in amounts totaling nineteen (19%) of the Bank’s
net income, as determined by the Bank’s regular accountants. These Contributions shall be divided between the Participants
as follows:

 

	Participant	% of the Bank’s net income
	Employee 1	5%
	Employee 2	2.75%
	Employee 3	2.75%
	Employee 4	2.75%
	Employee 5	2.75%
	Employee 6	1.00%
	Employee 7	1.00%
	Employee 8	1.00%Exhibit 10.6

 

MINEOLA
COMMUNITY BANK 

SPLIT DOLLAR LIFE INSURANCE PLAN

 

Pursuant
to due authorization by its Board, the undersigned duly authorized officer of Mineola Community Bank (the "Bank"),
located in Mineola, Texas, did constitute, establish and adopt the following Split Dollar Life Insurance Plan (the
 “Plan”), effective as of the 18th day of December, 2013.

 

The
purpose of this Plan is to retain and reward certain employees of the Bank by dividing the death proceeds of certain life insurance
policies with those employees' designated beneficiaries. The Bank will pay the life insurance premiums from its general assets.

 

Article
1 

Definitions

 

Whenever used in this Plan, the
following terms shall have the meanings specified:

 

 1.1             "Administrator" means the Board or such committee or person as the Board shall appoint.

 

 1.2            "Beneficiary" means each designated person, or the estate of the deceased Participant, entitled to benefits, if any, upon the death of the Participant.

 

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

 

 1.4            "Board" means the Board of Directors of the Bank.

 

 1.5            "Employee" means a person who is, as of the date the person is selected to participate in the Plan, an active employee of the Bank.

 

 1.6            "Insured" means the Participant whose life is insured under a particular Policy.

 

 1.7            "Insurer" means the insurance company issuing the Policy on the life of the Participant

 

 1.8            "Net Death Proceeds" means the total death proceeds of a Participant's Policies minus the greater of (i) the Policies' cash surrender value or (ii) the aggregate premiums paid by the Bank on the Policies.

 

1.9            "Participant" means
an Employee (i) who is selected to participate in the Plan after meeting the Plan's eligibility requirements, (ii) who elects
to participate in the Plan, (iii) who signs a Participation Agreement and a Beneficiary Designation Form, (iv) who
agrees to complete insurance forms and undergo any physical as may be requested by the Bank (v) whose signed Participation
Agreement and Beneficiary Designation Form are accepted by the Administrator, (vi) who commences participation in the Plan,
and (vii) whose participation has not terminated.

 

    

     

    

 

1.10        
"Participation Agreement" means the form required by the Administrator of an eligible Employee to indicate
acceptance of participation in this Plan.

 

1.11        
"Policy" or "Policies" means the individual insurance policy or policies adopted by the
Bank for purposes of insuring a Participant's life under this Plan.

 

1.12        
"Separation from Service" means termination of the Participant's services with or services for the Bank
for reasons other than death. Whether a Separation from Service has occurred is determined in accordance with the requirements
of Code Section 409A based on whether the facts and circumstances indicate that the Bank and Participant reasonably anticipated
that no further services would be performed after a certain date or that the level of bona fide services the Participant would
perform after such date (whether as an employee or as an independent contractor) would permanently decrease to no more than twenty
percent (20%) of the average level of bona fide services performed (whether as an employee or an independent contractor) over
the immediately preceding thirty-six (36) month period (or the full period of services to the Bank if the Participant has
been providing services to the Bank less than thirty-six (36) months).

 

Article
2 

Participation

 

2.1             Selection by Administrator. Participation in the Plan shall be limited to those Employees selected by the Administrator,
in its sole discretion, to participate in the Plan. Participation in the Plan shall be limited to a select group of management
or highly compensated employees employed by or providing services to the Bank.

 

2.2             
Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return
to the Administrator (i) a Participation Agreement, (ii) a Beneficiary Designation Form and (iii) insurance forms and physicals
as requested by the Bank. In addition, the Administrator may establish from time to time such other enrollment requirements as
it determines in its sole discretion are necessary.

 

2.3             
Eligibility; Commencement of Participation. Provided an Employee selected to participate in the Plan has met all
enrollment requirements set forth in this Plan and required by the Administrator, that Employee will become a Participant, be
covered by the Plan and will be eligible to receive benefits at the time and in the manner provided hereunder, subject to the
provisions of the Plan.

 

2.4            
Termination of Participation. A Participant's rights under this Plan shall automatically cease and his or her participation
in this Plan shall automatically terminate if the Plan or any Participant's rights under the Plan are terminated in accordance
with Articles 5 or 11 or if the Participant notifies the Bank in writing that the Participant wishes to withdraw participation
under the Plan.

 

    2

     

    

 

Article
3

Policy
Ownership and Interests

 

3.1             
Bank's Interest. The Bank shall own the Policies and shall have the right to exercise all incidents of ownership
and, subject to Articles 5 and 11, the Bank may terminate a Policy without the consent of the Insured. The Bank shall be the beneficiary
of the remaining death proceeds of the Policy after the Participant's interest is determined according to Section 3.2 below.

 

3.2             
Participant's Interest. The Participant, or the Participant's assignee, shall have the right to designate the Beneficiary
of an amount of death proceeds as specified in this Section. The Participant shall also have the right to elect and change settlement
options with respect to the Participant's interest by providing written notice to the Bank and the Insurer.

 

3.2.1       
Death Prior to Separation from Service or after Separation from Service after Age 65. If a Participant dies (i)
prior to Separation from Service, or (ii) after Separation from Service occurring after age 65, the Participant's Beneficiary
shall be entitled to receive the amount shown on the Participant's Participation Agreement.

 

3.2.2       
Death After Separation from Service Occurring before Age 65. If a Participant dies after Separation from Service
occurring before age 65, the Participant's Beneficiary shall not be entitled to any benefit hereunder.

 

Article
4

Premiums and Imputed
Income

 

4.1             
Premium Payment. The Bank shall pay all premiums due on the Policies.

 

4.2             
Economic Benefit. The Bank shall determine the economic benefit attributable to the each Participant based on the
life insurance premium factor for the Participant's age multiplied by the aggregate death benefit payable to the Participant's
Beneficiary. The "life insurance premium factor" is the minimum factor applicable under guidance published pursuant
to Treasury Reg. § 1.61-22(d)(3)(ii) or any subsequent
authority.

 

4.3             
Imputed Income. The Bank shall impute the economic benefit to the Participants on an annual basis, by adding the
economic benefit to the Participants' w-2.

 

Article
5

 Comparable Coverage

 

5.1              
Insurance Policy. The Bank may provide the benefits hereunder through the Policies purchased at the commencement
of this Plan, or it may provide comparable insurance coverage to the Participants through whatever means the Bank deems appropriate.
If a Participant waives or forfeits his right to the insurance benefit, the Bank may choose to cancel the Policy on that Participant's
life, or the Bank may continue such coverage and become the direct beneficiary of the entire death proceeds.

 

    3

     

    

 

5.2             
 Offer to Purchase. If the Bank discontinues a Policy prior to the Insured's Separation from Service, the Bank shall
give the Insured at least thirty (30) days to purchase the Policy. The purchase price shall be the fair market value of the Policy,
as determined under Treasury Reg. §1.61-22(g)(2) or any subsequent applicable authority.

 

Article
6

 General Limitations

 

6.1              
Removal. Notwithstanding any provision of this Plan to the contrary, the Bank shall not distribute any benefit with
respect to a particular Participant under this Plan if the Participant is subject to a final removal or prohibition order issued
by an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act.

 

6.2             
Suicide or Misstatement. No benefit shall be distributed to a Participant's Beneficiary if the Participant commits
suicide within two (2) years after the date the Participant first became a participant under this Plan, or if an insurance company
which issued a life insurance policy covering the Participant and owned by the Bank denies coverage (i) for material misstatements
of fact made by the Participant on an application for such life insurance, or (ii) for any other reason.

 

Article
7 

Beneficiaries

 

7.1             
In General. Each Participant shall have the right, at any time, to designate a Beneficiary to receive any benefit
distributions under this Plan upon the Participant's death. The Beneficiary designated under this Plan may be the same as or different
from the beneficiary designated under any other plan of the Bank in which the Participant participates.

 

7.2             
Designation.Each Participant may designate any person to receive any benefits payable under the Plan upon the
Participant's death, and the designation may be changed from time to time by the Participant by filing a new designation. Each
designation will revoke all prior designations by the Participant, shall be in the form prescribed by the Administrator and shall
be effective only when filed in writing with the Administrator during the Participant's lifetime. If a Participant names someone
other  than the Participant's spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent
is required to be provided in a form designated by the Administrator, executed by the Participant's spouse and returned to the
Administrator. A Participant'sbeneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases
the Participant or if the Participant names a spouse as Beneficiary and the marriage is subsequently dissolved.

 

7.3             
Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted
and acknowledged in writing by the Administrator or its designated agent.

 

    4

     

    

  

7.4             
 No Beneficiary Designation. If the Participant dies without a valid beneficiary designation, or if all designated
Beneficiaries predecease the Participant, then the Participant's spouse shall be the designated Beneficiary. If the Participant
has no surviving spouse, any benefit shall be paid to the Participant's estate.

 

7.5             
Facility of Distribution. If the Administrator determines in its discretion that a benefit is to be distributed
to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person's property, the
Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody
of such minor, incompetent person or incapable person. The Administrator may require proof of incompetence, minority or guardianship
as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the
account of the Participant and the Beneficiary, as the case may be, and shall completely discharge any liability under this Plan
for such distribution amount.

 

Article
8 

Assignment

 

A
Participant may irrevocably assign without consideration all of the Participant's Interest in this Plan to any person, entity,
or trust. In the event a Participant transfers all of the Participant's interest, then all of the Participant's interest in this
Plan shall be vested in the Participant's transferee, who shall be substituted as a party hereunder, and the Participant shall
have no further interest in this Plan.

 

Article 9 

Insurer

 

The
Insurer shall be bound only by the terms of its given Policy. The Insurer shall not be bound by or deemed to have notice of the
provisions of this Plan. The Insurer shall have the right to rely on the Bank's representations with regard to any definitions,
interpretations or Policy interests as specified under this Plan.

 

Article 10

Claims And Review
Procedure

 

10.l           Claims Procedure. The Participant or Beneficiary ("claimant") who has not received benefits under the Plan that
he or she believes should be paid shall make a claim for such benefits as follows:

 

10.1.1  
Initiation - Written Claim. The claimant initiates a claim by submitting to the Administrator a written claim for
the benefits. If such a claim relates to the contents of a notice received by the claimant, the claim must be made within sixty
(60) days after such notice was received by the claimant. All other claims must be made within one hundred eighty (180) days of
the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination
desired by the claimant.

 

    5

     

    

 

10.1.2  
 Timing of Administrator Response. The Administrator shall respond to such claimant within ninety (90) days after
receiving the claim. If the Administrator determines that special circumstances require additional time for processing the claim,
the Administrator can extend the response period by an additional ninety (90) days by notifying the claimant in writing, prior
to the end of the initial ninety (90) day period, that an additional period is require d. The notice of extension must set forth
the special circumstances and the date by which the Administrator expects to render its decision.

 

10.1.3   
Notice of Decision. If the Administrator denies part or all of the claim, the Administrator shall notify the claimant
in writing of such denial. The Administrator shall write the notification in a manner calculated to be understood by the claimant.
The notification shall set forth: (i) the specific reasons for the denial; (ii) a reference to the specific provisions of the
Plan on which the denial is based; (iii) a description of any additional information or material necessary for the claimant to
perfect the claim and an explanation of why it is needed; (iv) an explanation of the Plan's review procedures and the time limits
applicable to such procedures; and (v) a statement of the claimant's right to bring a civil action under ERISA Section 502(a)
following an adverse benefit determination on review.

 

10.2           
Review Procedure. If the Administrator denies part
or all of the claim, the claimant shall have the opportunity for a full and fair review by the Administrator of the denial, as
follows:

 

10.2.1  
Initiation - Written Request. To initiate the review, the claimant, within sixty (60) days after receiving the Administrator's
notice of denial, must file with the Administrator a written request for review.

 

10.2.2  
Additional Submissions - Information Access. The claimant shall then have the opportunity to submit written comments,
documents, records and other information relating to the claim. The Administrator shall also provide the claimant, upon request
and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in
applicable ERISA regulations) to the claimant's claim for benefits.

 

10.2.3  
Considerations on Review. In considering the review, the Administrator shall take into account all materials and
information the claimant submits relating to the claim, without regard to whether such information was submitted or considered
in the initial benefit determination.

 

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

 

    6

     

    

 

10.2.5    Notice
of Decision. The Administrator shall notify the claimant in writing of its decision on review. The Administrator shall
write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: (i) the
specific reasons for the denial; (ii) a reference to the specific provisions of the Plan on which the denial is based; (iii)
a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of,
all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant's claim
for benefits; and (iv) a statement of the claimant's right to bring a civil action under ERISA Section 502(a).

 

Article
11

 Amendments And Termination

 

The Bank
may amend or terminate this Plan with respect to any Participant at any time prior to the Participant's death by providing written
notice of such change to the Participant. If the Bank decides to maintain the Policies after
termination of the Plan, the Bank shall be the direct beneficiary of the entire death proceeds of the Policies.

 

Article
12 

Administration

 

12.1        
Administrator Duties. The Administrator shall also have the discretion and authority to (i)
make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Plan and (ii) decide
or resolve any and all questions, as may arise in connection with this Plan.

 

12.2        
Agents. In the administration of this Plan, the Administrator may employ agents and delegate to them such administrative
duties as it sees fit, (including acting through a duly appointed representative), and may from time to time consult with counsel
who may be counsel to the Bank.

 

12.3        
Binding Effect of Decisions. The decision or action of the Administrator with respect to any question arising out
of or in connection with the administration, interpretation and application of this Plan and the rules and regulations promulgated
hereunder shall be final and conclusive and binding upon all persons having any interest in this Plan.

 

12.4        
Indemnity of Administrator. The Bank shall indemnify and hold harmless the members of the Administrator against
any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan,
except in the case of willful misconduct by the Administrator or any of its members.

 

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

 

    7

     

    

 

Article
13 

Miscellaneous

 

13.1        
Binding Effect. This Plan shall bind the Participants and the Bank, their beneficiaries, survivors, executors, administrators
and transferees and any Beneficiary.

 

13.2         
No Guarantee of Service. This Plan is not a contract for services. It does not give the Participant the right to
remain an employee the Bank, nor does it interfere with the Bank's right to discharge the Participant. It also does not require
the Participant to remain an employee nor interfere with the Participant's right to terminate his or her service at any time.

 

13.3        
Applicable Law. The Plan and all rights hereunder shall be governed by and construed according to the laws of the
State of Texas, except to the extent preempted by the laws of the United States of America.

 

13.4        
Reorganization. The Bank shall not merge or consolidate into or with another company, or reorganize, or sell substantially
all of its assets to another company, firm or person unless such succeeding or continuing company, firm or person agrees to assume
and discharge the obligations of the Bank under this Plan. Upon the occurrence of such event, the term "Bank" as used
in this Plan shall be deemed to refer to the successor or survivor company.

 

13.5        
Notice. Any notice or filing required or permitted to be given to the Bank under this Plan shall be sufficient if
in writing and hand-delivered, or sent by registered or certified mail, to the address below:

 

Mineola
Community Bank

215
W. Broad

Mineola,
Texas 75773 

 

Such notice shall be deemed given
as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or the receipt for registration
or certification. Any notice or filing required or permitted to be given to the Participant under this Plan shall be sufficient
if in writing and hand-delivered, or sent by mail, to the last known address of the Participant.

 

13.6        
Entire Plan. This Plan, along with a Participant's Participation Agreement and Beneficiary Designation Form, constitute
the entire agreement between the Bank and the Participant as to the subject matter hereof. No rights are granted to the Participant
under this Plan other than those specifically set forth herein.

 

    8

     

    

 

IN WITNESS WHEREOF, the Bank adopts this
Plan as of the date indicated above.

 

	 	Mineola Community Bank
	 	 	 
	 	By 	James H. Herlock, III
	 	Title 	President

  

    9

     

    

 

FIRST
AMENDMENT TO THE 

MINEOLA COMMUNITY BANK

SPLIT
DOLLAR LIFE INSURANCE PLAN

 

THIS FIRST AMENDMENT (the
 “Amendment”) is adopted this 19th day of January 2021, by Mineola Community Bank located in Mineola, Texas
(the “Bank”).

 

The
Bank adopted the Mineola Community Bank Split Dollar Life Insurance Plan on December 18, 2013 (the “Plan”). The Bank
now wishes to amend the Plan to provide for earlier vesting in the Plan’s benefit.

 

Now, therefore, the Bank states
as follows:

 

Sections
3.2.1 and 3.2.2 of the Plan shall be deleted in their entireties and replaced by the following:

 

3.2.1       
Death Prior to Separation from Service. If a Participant dies prior to Separation from Service, the Participant's
Beneficiary shall be entitled to receive the amount shown on the Participant's Participation Agreement.

 

3.2.2       
Death after Separation from Service after Age 65. If a Participant dies after Separation from Service occurring
after age 65, the Participant's Beneficiary shall be entitled to receive the amount shown on the Participant's Participation Agreement.

 

3.2.3       
Death After Separation from Service After Early Retirement. If a Participant dies after Separation from Service
which occurs when the sum of the Participant's age and years of service with the Bank equals or exceeds 90, the Participant's
Beneficiary shall be entitled to receive the amount shown on the Participant's Participation Agreement.

 

3.2.4       
Death After Separation from Service Generally. Except as provided in Sections 3.2.2 and 3.2.3, if a Participant
dies after Separation from Service, the Participant’s Beneficiary shall not be entitled to any benefit hereunder.

 

IN WITNESS
WHEREOF, a duly authorized representative of the Bank has signed this Amendment.

 

	 	Mineola Community Bank
	 	 	 
	 	By: 	/s/ James H. Herlocker, III
	 	Title:	 President

 

    10

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