Document:

First Amendment to Employment, Confidentiality and Non-Compete Agreement

 Exhibit 10.45 

FIRST AMENDMENT TO 
 EMPLOYMENT, CONFIDENTIALITY AND NON-COMPETE 
 AGREEMENT 

This FIRST AMENDMENT (the “First Amendment”) to the Employment, Confidentiality and Non-Compete Agreement
by and between MedCath Incorporated (the “Company”) and DANIEL PERRITT (“Employee”) dated October 29, 2009, is effective as of the 7th day of July, 2011. 
 RECITALS: 
 WHEREAS, Company and Employee entered into an Employment,
Confidentiality and Non-Compete Agreement dated October 29, 2009 (the “Employment Agreement”); 
 WHEREAS,
Employee has been employed by Company prior to the date hereof; 
 WHEREAS, Company and Employee desire to continue
Employee’s employment in accordance with the terms of Employee’s Employment Agreement and in accordance with the terms of this First Amendment; and 
 WHEREAS, the parties now wish to amend the Employment Agreement on the terms set forth below: 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and
confessed, Company and Employee agree to amend the Employment Agreement on the following terms: 
  

	 	1.	The second sentence in Section 5(a) of the Employment Agreement (Termination of Employment, By the Company For Cause) shall be deleted in its entirety and replaced
with the following: 

 As used herein, the term “Cause” shall mean and be limited to (i) willful misconduct
by Employee which results in a demonstrable injury (which is other than de minimis or insignificant) to the Company, (ii) willful and continued failure by Employee to perform his material duties with respect to the Company or its subsidiaries,
which failure continues beyond 10 days after a written demand for substantial performance of such duties was given to Employee by the Company, or (iii) Employee’s conviction of, or plea of nolo contendere to, a felony or to a
misdemeanor involving moral turpitude. Termination of Employee for Cause pursuant to Section 5(a) shall be made by delivery to Employee of written notice that, in the reasonable judgment of the Board of Directors of MedCath Corporation,
Employee was guilty of conduct set forth in any of clauses (i) through (iii) above and specifying the particulars thereof. 

	 	2.	The second paragraph of Section 5(b) of the Employment Agreement (Termination of Employment, By the Company Without Cause) shall be deleted in its entirety and
replaced with the following: 

 In the event the Company terminates Employee’s employment without cause, the Company will
continue to pay Employee his current bi-weekly salary, less applicable lawful deductions, for a period of twelve (12) months following the date of notice of termination of employment plus one times Employee’s targeted annual bonus.
Employee shall be entitled to receive benefits as provided by applicable law or by Company policy. 
  

	 	3.	Capitalized terms not defined in this First Amendment shall have the meaning assigned to them in the Employment Agreement. 

 

	 	4.	Except as specifically set forth is this First Amendment, the terms and conditions of the Employment Agreement shall remain in full force and effect.

  

	 	5.	In the event of any conflict between the terms of this First Amendment and terms of the Employment Agreement, the terms of this First Amendment shall control.

 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment on the day first written above.

  

			
	MEDCATH INCORPORATED
		
	By	 	 /s/ O. Edwin French

	Name:	 	O. Edwin French
	Title:	 	CEO
	
	DANIEL PERRITT
		 	 /s/ Daniel PerrittAmendment to Freeze Benefit Accruals under the Salary Continuation Plan

 Exhibit 10.7 
 AMENDMENT TO FREEZE BENEFIT ACCRUALS UNDER 
 THE CHARTERBANK SALARY
CONTINUATION PLAN 
 This Amendment is adopted this 25th day of September, 2012, by and between CharterBank (the
“Employer”) and Robert Johnson, an individual resident of the State of Alabama (the “Executive”). 

WHEREAS, the Employer and the Executive have previously entered into a Salary Continuation Plan effective January 1, 2009
(the “Agreement”), an unfunded arrangement maintained to encourage the Executive to remain an employee of the Employer; 
 WHEREAS, the Agreement is designed to provide retirement benefits (the “Benefits”) to the Executive upon his retirement, death, or disability, payable out of the Employer’s general
assets; and 
 WHEREAS, the Employer and the Executive have agreed to freeze the accrual of Benefits under the Agreement
as of June 30, 2012; 
 NOW, THEREFORE, for good and valuable consideration, the adequacy of which is acknowledged
by the parties hereto, the Agreement is hereby amended by adding new Section 2.2 as follows: 
 2.2
Freeze in Accrued Benefit. Effective June 30, 2012, notwithstanding anything herein to the contrary, (i) no additional service or compensation will be credited under the Agreement and (ii) accrued benefits hereunder will be
frozen such that no additional benefits (including disability and death benefits under Article 3 will be accrued under this Agreement. Such frozen accrued benefits will be paid in accordance with the terms of the Agreement in a manner consistent
with section 409A of the Code. 
 IN WITNESS WHEREOF, the Executive and a duly authorized officer of the Employer have
signed this Agreement as of the date first written above. 
  

			
	 EXECUTIVE:

	
	 

	
	 CHARTERBANK:

		
	 By:
	 	 

	 Its:
	 	 CHAIR OF BOARD P+CAmendment to Freeze Benefit Accruals under the Salary Continuation Plan

 Exhibit 10.9 
 AMENDMENT TO FREEZE BENEFIT ACCRUALS UNDER 
 THE CHARTERBANK SALARY
CONTINUATION PLAN 
 This Amendment is adopted this 25th day of September, 2012, by and between CharterBank (the
“Employer”) and Curt Kollar, an individual resident of the State of Georgia (the “Executive”). 

WHEREAS, the Employer and the Executive have previously entered into a Salary Continuation Plan effective January 1, 2009
(the “Agreement”), an unfunded arrangement maintained to encourage the Executive to remain an employee of the Employer; 
 WHEREAS, the Agreement is designed to provide retirement benefits (the “Benefits”) to the Executive upon his retirement, death, or disability, payable out of the Employer’s general
assets; and 
 WHEREAS, the Employer and the Executive have agreed to freeze the accrual of Benefits under the Agreement
as of June 30, 2012; 
 NOW, THEREFORE, for good and valuable consideration, the adequacy of which is acknowledged
by the parties hereto, the Agreement is hereby amended by adding new Section 2.2 as follows: 
 2.2
Freeze in Accrued Benefit. Effective June 30, 2012, notwithstanding anything herein to the contrary, (i) no additional service or compensation will be credited under the Agreement and (ii) accrued benefits hereunder will be
frozen such that no additional benefits (including disability and death benefits under Article 3 will be accrued under this Agreement. Such frozen accrued benefits will be paid in accordance with the terms of the Agreement in a manner consistent
with section 409A of the Code. 
 IN WITNESS WHEREOF, the Executive and a duly authorized officer of the Employer have
signed this Agreement as of the date first written above. 
  

			
	EXECUTIVE:
	 

	
	CHARTERBANK:
		
	 By
	 	 

	 Its:
	 	CHAIR OF BOARD P+CAmendment to Freeze Benefit Accruals under the Salary Continuation Plan

 Exhibit 10.11 
 AMENDMENT TO FREEZE BENEFIT ACCRUALS UNDER 
 THE CHARTERBANK SALARY
CONTINUATION PLAN 
 This Amendment is adopted this 25th day of September, 2012, by and between CharterBank (the
“Employer”) and Lee Washam, an individual resident of the State of Georgia (the “Executive”). 

WHEREAS, the Employer and the Executive have previously entered into a Salary Continuation Plan effective January 1, 2009
(the “Agreement”), an unfunded arrangement maintained to encourage the Executive to remain an employee of the Employer; 
 WHEREAS, the Agreement is designed to provide retirement benefits (the “Benefits”) to the Executive upon his retirement, death, or disability, payable out of the Employer’s general
assets; and 
 WHEREAS, the Employer and the Executive have agreed to freeze the accrual of Benefits under the Agreement
as of June 30, 2012; 
 NOW, THEREFORE, for good and valuable consideration, the adequacy of which is acknowledged
by the parties hereto, the Agreement is hereby amended by adding new Section 2.2 as follows: 
 2.2
Freeze in Accrued Benefit. Effective June 30, 2012, notwithstanding anything herein to the contrary, (i) no additional service or compensation will be credited under the Agreement and (ii) accrued benefits hereunder will be
frozen such that no additional benefits (including disability and death benefits under Article 3 will be accrued under this Agreement. Such frozen accrued benefits will be paid in accordance with the terms of the Agreement in a manner consistent
with section 409A of the Code. 
 IN WITNESS WHEREOF, the Executive and a duly authorized officer of the Employer have
signed this Agreement as of the date first written above. 
  

			
	EXECUTIVE:
		
		 	 

	
	 CHARTERBANK:

		
	 By:
	 	 

		
	 Its:
	 	CHAIR OF BOARD P+CSplit Dollar Agreement with Robert L. Johnson

 Exhibit 10.17 
 CharterBank 
 SPLIT DOLLAR AGREEMENT 

THIS SPLIT DOLLAR AGREEMENT (this “Agreement”) is entered into as of this 18th day June, 2010 by and between Charter Bank (the
“Employer”), and BOB JOHNSON, an individual resident of GEORGIA (hereinafter referred to as the “Executive”). 
 WHEREAS, to encourage the Executive to remain in the employ of the Employer, the Employer is willing to allocate a portion of the death proceeds of life insurance
policy(ies) on the Executive’s life to the Executive’s beneficiary(ies). The Employer will pay life insurance premiums from its general assets. 
 Now THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Employer and the Executive hereby agree as follows. 
 ARTICLE 1 

DEFINITIONS 
 Whenever used in this Agreement, the following words and phrases shall have the meanings specified: 
 1.1 “Administrator” means the Board of Directors of the Company or anyone designated by the Board of Directors of the Company as described in Article 5. 

1.2 “Beneficiary” means the persons or estate entitled to benefits as determined under Article 3, if any, upon the death
of the Executive. 
 1.3 “Beneficiary Designation Form” means the form established from time to time by the
Administrator pursuant to which the Executive may designate one or more Beneficiaries. 
 1.4 “Insurer” means
each life insurance carrier which has issued a life insurance policy on the life of the Executive that is owned by the Company or the Bank. 
 1.5 “Net Amount At Risk” means the difference in the death benefit payable by the Insurer and the cash value of any Policy. 

1.6 “Policy” means any life insurance policy or policies owned by the Company or the Bank issued by an Insurer on the
life of the Executive as detailed on Schedule “A”. 
 1.7 “Split Dollar Policy Endorsement” means the
form required by the Administrator or the Insurer to indicate the Executive’s interest, if any, in a Policy on the Executive’s life. 

  
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 ARTICLE 2 

POLICY OWNERSHIP/INTERESTS 

2.1 Employer Ownership. The Employer is the sole owner of the Policy and shall have the right to exercise all incidents of
ownership. The Employer shall be the beneficiary of any death proceeds remaining after the Executive’s Interest has been paid under Section 2.2 of this Split Dollar Agreement. 

2.2 Executive’s Interest. In the case of the Executive’s death the Executive shall have the right to designate the
beneficiary(ies) of death proceeds distributed as follows: 
  

	 	(a)	If Executive dies prior to his Termination of Service and this Agreement is still in effect, a death benefit will be payable to the executive’s designated
beneficiary equal to the lesser of, (i) TWO MILLION and 00/100 dollars ($2,000,000.00); or (ii) one hundred percent (100%) of the portion of the insurance proceeds on the life of the Executive designated as Net Amount at Risk (NAR);

  

	 	(b)	 If the executive dies after retirement, but before the executive’s 80th birthday, and this Agreement is still in effect , a death benefit will be payable to the executive’s designated
beneficiary equal to twenty-five percent (25%) of the portion of the insurance proceeds on the life of the Executive designated as Net Amount at Risk (NAR); 

 

	 	(c)	 If the executive dies after retirement and on or after the executive’s 80th birthday, but before the executive’s 85th birthday, and this Agreement is still in effect, a death benefit will be payable to the executive’s designated
beneficiary equal to the lesser of, (i) TWO HUNDRED FIFTY THOUSAND and 00/100 dollars ($250,000.00);or (ii) one hundred percent (100%) of the portion of the insurance proceeds on the life of the Executive designated as Net Amount at
Risk (NAR); 

  

	 	(d)	 If the executive dies after retirement and on or after the executive’s 85th birthday, and this Agreement is still in effect, a death benefit will be payable to the executive’s designated
beneficiary equal to the lesser of, (i) ONE HUNDRED THOUSAND and 00/100 dollars ($100,000.00);or (ii) one hundred percent (100%) of the portion of the insurance proceeds on the life of the Executive designated as Net Amount at Risk
(NAR); 

 Subject to the terms of this Split Dollar Agreement, including but not limited to the
Employer’s right to terminate this Split Dollar Agreement under Section 7.1, the Employer hereby endorses the Executive’s Interest to the Executive and agrees to execute any other or further documents that may be required to
effectuate this Split Dollar Agreement. 
 2.3 Premium Payment. The Employer shall pay an amount equal to the planned
premiums and other premium payments that might become necessary to keep the policy in force. 

  
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 2.4 Imputed Income. The Employer shall impute income to the Executive in an amount
equal to (a) the current term rate for the Executive’s age, multiplied by (b) the net death benefit payable to the Executive’s beneficiary(ies). The current term rate is the minimum amount required to be imputed under Revenue
Rulings 64-328 and 66-110, or any subsequent applicable authority. 
 2.5 Internal Revenue Code Section 1035
Exchanges. The Executive recognizes and agrees that the Employer may, after this Executive Split Dollar Agreement is adopted, wish to exchange the Policy of life insurance on the Executive’s life for another contract of life insurance
insuring the Executive’s life. Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related
testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer. 
 ARTICLE 3 
 BENEFICIARIES 

3.1 Beneficiary Designations. The Executive shall have the right to designate at any time a Beneficiary to receive any benefits
payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Employer in which the Executive
participates. 
 3.2 Beneficiary Designation: Change. The Executive shall designate a Beneficiary by completing and
signing the Beneficiary Designation Form and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the
Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive shall have the right to change a Beneficiary by completing, signing, and otherwise complying with the terms of the Beneficiary Designation Form and the
Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan
Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Executive and accepted by the Plan Administrator before the Executive’s death. 

3.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received in writing by the
Plan Administrator or its designated agent. 
 3.4 No Beneficiary Designation. If the Executive dies without a valid
beneficiary designation, or if all designated Beneficiaries predecease the Executive, then the Executive’s spouse shall be the designated Beneficiary. If the Executive has no surviving spouse, the benefits shall be distributed to the personal
representative of the Executive’s estate. 
 3.5 Facility of Payment. If a benefit is payable to a minor, to a
person declared incapacitated, or to a person incapable of handling the disposition of his or her property, the Employer 

  
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may direct payment of such benefit to the guardian, legal representative, or person having the care or custody of the minor, incapacitated person, or incapable person. The Employer may require
proof of incapacity, minority, or guardianship as it may deem appropriate before distribution of the benefit. Distribution shall completely discharge the Employer from all liability for the benefit. 

ARTICLE 4 
 GENERAL LIMITATIONS 
 4.1 Termination of
Service. Notwithstanding any provision of this Agreement to the contrary, the Executive’s Interest in the Policy shall terminate upon a Termination of Service except as provided in Section 7.1 of this Agreement. 

4.2 Removal. Notwithstanding any provision of this Agreement to the contrary, if the Executive is permanently prohibited from
participating in the conduct of the Employer’s affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1818(e)(4) or (g)( 1), all obligations of the Employer under this Agreement shall
terminate as of the effective date of the order. 
 4.3 Insurer. The Insurer shall be bound only by the terms of the
Policy. Any payments the Insurer makes or actions it takes in accordance with the Policy shall fully discharge it from all claims, suits and demands of all entities or persons. The Insurer shall not be bound by or be deemed to have notice of the
provisions of this Split Dollar Agreement. 
 ARTICLE 5 

CLAIMS AND REVIEW PROCEDURES 

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

	 	5.1.1	Initiation: Written Claim. The claimant initiates a claim by submitting to the Administrator a written claim for the benefits. 

 

	 	5.1.2	Timing of Administrator Response. The Administrator shall respond to such claimant within 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 90 days by notifying the claimant in writing, prior to the end of the initial 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. 

  
 5 

	 	5.1.3	Notice of Decision. If the Administrator denies part or all of the claim, then 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: 

  

	 	(a)	the specific reasons for the denial, 

  

	 	(b)	a reference to the specific provisions of this Agreement on which the denial is based, 

 

	 	(c)	a description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed,

  

	 	(d)	an explanation of this Agreement’s review procedures and the time limits applicable to such procedures, and 

 

	 	(e)	a statement of the claimant’s right, if any, to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review.

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

	 	5.2.1	Initiation of Written Request. To initiate the review, the claimant must file with the Administrator a written request for review within 60 days after receiving
the Administrator’s notice of denial. 

  

	 	5.2.2	Additional Submissions for 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 to the claimant’s claim for benefits.

  

	 	5.2.3	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. 

  

	 	5.2.4	 Timing of Administrator Response. The Administrator shall respond in writing to such claimant within 60 days after receiving the request for
review. If the Administrator determines that special circumstances require additional time for processing the claim, then the Administrator can extend the response period by an

  
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additional 60 days by notifying the claimant in writing, prior to the end of the initial 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. 

  

	 	5.2.5	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: 

  

	 	(a)	the specific reasons for the denial, 

  

	 	(b)	a reference to the specific provisions of this Agreement 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 to the claimant’s claim for benefits, and 

  

	 	(d)	a statement of the claimant’s right, if any, to bring a civil action under ERISA Section 502(a). 

ARTICLE 6 
 ADMINISTRATION 
 6.1 Administration. This Split
Dollar Agreement shall be administered by an Administrator, which shall consist of the Employer’s board of directors or such committee as the board shall appoint. The Executive may be a member of the Administrator. The Administrator shall also
have the discretion and authority to: 
  

	 	(a)	make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Split Dollar Agreement and 

 

	 	(b)	decide or resolve any and all questions, including interpretations of this Split Dollar Agreement, as may arise in connection with the Split Dollar Agreement.

 6.2 Named Agents In the administration of this Split Dollar Agreement, 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 Employer. 

  
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 6.3 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 Split Dollar Agreement and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all
persons having any interest in this Split Dollar Agreement. 
 6.4 Indemnity of Administrator. The Employer 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 Split Dollar Agreement, except in the case of willful
misconduct by the Administrator or any of its members. 
 6.5 Information. To enable the Administrator to perform its
functions, the Employer shall supply full and timely information to the Administrator on all matters relating to the date and circumstances of the retirement, death, or Termination of Employment of the Executive and such other pertinent information
as the Administrator may reasonably require. 
 ARTICLE 7 

MISCELLANEOUS 
 7.1 Amendment and Termination. This Split Dollar Agreement shall terminate automatically if Executive terminates service with the Employer, for any reason, other than retirement, as defined in the
Salary Continuation Plan between the executive and the bank dated January 1, 2009. This Split Dollar Agreement shall terminate upon the occurrence of any one of the following: 

 

	 	(a)	Bankruptcy, receivership, or dissolution of the Employer, or 

  

	 	(e)	distribution of the death benefit proceeds in accordance with Section 2.2 above, or 

 

	 	(f)	if the Executive commits suicide within two years after the issuance of the Policy on the Executive’s life. 

7.2 Binding Effect. This Agreement shall bind the Executive and the Employer and their beneficiaries, survivors, executors,
administrators, and transferees. 
 7.3 Non-Transferability. Benefits under this Agreement cannot be sold, transferred,
assigned, pledged, attached, or encumbered in any manner. 
 7.4 Tax Withholding. The Employer shall withhold any taxes
that are required to be withheld from the benefits provided under this Agreement. 
 7.5 Applicable Law. Except to the
extent preempted by the laws of the United States of America, the validity, interpretation, construction, and performance of this Agreement shall be governed by and construed in accordance with the laws of the State of Georgia, without giving effect
to the principles of conflict of laws of such state. 

  
 8 

 7.6 Entire Agreement. This Agreement constitutes the entire agreement between the
Employer and the Executive concerning the subject matter hereof. No rights are granted to the Executive’s beneficiary(ies) under this Agreement other than those specifically set forth herein. 

7.7 Severability. If for any reason any provision of this Agreement is held invalid, such invalidity shall not affect any other
provision of this Agreement not held invalid, and to the full extent consistent with law each such other provision shall continue in full force and effect. If any provision of this Agreement is held invalid in part, such invalidity shall not affect
the remainder of such provision, and to the full extent consistent with law the remainder of such provision shall, together with all other provisions of this Agreement, continue in full force and effect. 

7.8 Headings. The captions and section headings in this Agreement are included solely for convenience of reference and shall not
affect the meaning or interpretation of any provision of this Agreement. 
 7.9 Notices. All notices, requests, demands,
and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such
other address as either party may designate by like notice. 
  

											
		 	(a)	  	If to the Employer, to:	  		  		  	
		 		  	The Board of Directors	  		  		  	
		 		  	CharterBank	  		  		  	
		 		  	  
	  		  		  	
		 		  	  
	  		  		  	
						
		 	(b)	  	If to the Executive, to:	  		  		  	
		 		  	Robert L. Johnson	  		  		  	
		 		  	1704 Spring Road	  		  		  	
		 		  	Lanett, AL 36863	  		  		  	

 and to such other or additional person or persons as either party shall have designated to the other party in writing by
like notice. 
 7.10 Successors. By an assumption agreement in form and substance satisfactory to the Executive, the
Employer shall require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business or assets of the Employer to expressly assume and agree to perform this Executive Split
Dollar Agreement in the same manner and to the same extent that the Employer would be required to perform this Executive Split Dollar Agreement if no succession had occurred. 

  
 9 

 IN WITNESS WHEREOF, the
Executive and a duly authorized Employer officer have executed this Agreement as of the day and year first written above. 
  

							
	EXECUTIVE	 	 	 	EMPLOYER
		 		 	CharterBank
				
	 

	 		 	By:	 	 

	BOB JOHNSON	 		 	Title:	 	SVP/Secretary to Board

  
 10 

 AGREEMENT TO COOPERATE WITH
INSURANCE UNDERWRITING INCIDENT TO 
 INTERNAL
REVENUE CODE SECTION 1035 EXCHANGE 
 I acknowledge that I have
read the Split Dollar Agreement and agree to be bound by its terms, particularly the covenant on my part set forth in section 2.5 of the Split Dollar Agreement to provide medical information and cooperate with medical insurance-related testing
required by an insurer to issue a comparable insurance policy to cover the benefit provided under this Executive Split Dollar Agreement 
  

			
		
	 

	  	 

	Witness	  	Executive

  
 11

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