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Document

Exhibit 10.1

SUMMIT COMMUNITY BANK
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
This Summit Community Bank Supplemental Executive Retirement Plan (“Plan”) is adopted as of this ____ day _________, 2021 (the “Effective Date”), by Summit Community Bank, a bank organized and existing under the laws of the State of West Virginia (the “Company”), for the benefit of [H. Charles Maddy III/Scott C. Jennings/Robert S. Tissue, Patrick N. Frye/Bradford E. Ritchie] (the “Executive”).  The purpose of the Plan is to provide certain supplemental nonqualified pension benefits to certain executives who have contributed substantially to the success of the Company and the Company desires to incentivize the executives to continue in its employ.
Company and Executive acknowledge and agree that the only Supplemental Executive Retirement Plan by and between Company and Executive that is in effect as of the date hereof other than this Plan, is that certain Supplemental Executive Retirement Plan dated _____________1, as amended thereafter, and as amended and restated January 1, 2008, and referred to as the “Executive Salary Continuation Agreement”, and as it may be thereafter amended from time to time.  The parties further acknowledge and agree that any Supplemental Executive Retirement Plan document not specified herein, whether or not offered to, awarded to and/or previously signed by the Executive, that has not been executed on behalf of the Company or any affiliate by an officer of the Company or any affiliate, regardless of whether or not any benefit accrued thereunder, is null, void and superseded by this Plan.
This Plan is intended to be and shall be administered as an income tax nonqualified, unfunded plan primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), Sections 201(2), 301(a)(3) and 401(a)(1).  This Plan is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and, accordingly, the intent of the parties hereto is that the Plan shall be operated and interpreted consistent with the requirements thereof.
ARTICLE 1
DEFINITIONS
Whenever used in this Plan, the following terms have the meanings specified:

1  The date is May 7, 1999, as amended thereafter, and as amended and restated January 1, 2008, and referred to as the “Executive Salary Continuation Agreement”, and as it may be thereafter amended from time to time, in H. Charles Maddy, III’s and Scott C. Jennings’ Plans.  The date is January 25, 2002, as amended thereafter, and as amended and restated January 1, 2008, and referred to as the “Executive Salary Continuation Agreement”, and as it may be thereafter amended from time to time, in Robert S. Tissue's  and Patrick N. Frye’s Plans.  The dates are January 1, 2009 and January 1, 2016 for Bradford E. Ritchie's Plan. 

1.1.“Account Balance” means, as of any date, the liability that should be accrued by the Company on behalf of the Executive under generally accepted accounting principles (“GAAP”), to the extent consistent with the provisions below.  Prior to the date on which Executive attains Executive’s Normal Retirement Age and during the time that Executive continues in the employment of Company, and prior to any determination of Disability of Executive prior to Executive attaining Normal Retirement Age, (or after Separation from Service but before Executive has attained Executive’s Normal Retirement Age if a Change in Control has occurred and Executive has had a Separation from Service as set forth in Section 3.2) and provided this Agreement is in effect, the Company shall establish an accrued liability retirement account for the Executive into which appropriate reserves shall be accrued sufficient to accommodate the benefit as provided in paragraph 3.1 herein, using a compound interest rate as set forth in Schedule 1 attached hereto and incorporated herein by reference.  The interest rate set forth on Schedule 1 may be changed, for purposes of the calculation of the accrued liability retirement account hereunder, by the Compensation Committee of Company at any time and from time to time, but only in good faith and in a manner that the Compensation Committee of the Company reasonably determines to be consistent with industry standards at the time of such change of interest rate herein.  The accrued liability retirement account established hereunder shall be for accounting and bookkeeping purposes only, and is not, nor shall be construed to be, an account or trust for the benefit of the Executive.  Once payments to Executive commence pursuant to Sections 3.1, 3.2 or 3.4, such payments shall be applied so as to reduce the balance in the accrued liability retirement account for purposes of any payout of an amount equal to the remaining balance thereof under Sections 3.3 or 3.4 herein.
1.2.“Annuity Contract” means the following annuity contract(s) purchased and solely owned by the Company:  a Flexible Premium Indexed Deferred Annuity Contract issued by _________________ Insurance Company, contract #________, or such other annuity contracts (a) as the Company may purchase from time to time in accordance with Plan Section 2.3 or otherwise, the income value of which the Company intends to serve as the measure of the Plan benefit for Executive, and (b) are identified by Policy number in writing by the Company as an “Annuity Contract” under this Plan.
1.3.“Beneficiary” means the person or entity designated, or otherwise determined in accordance with Article 4, in writing by the Executive to receive death benefits pursuant to this Plan in the event of the Executive’s death.
1.4.“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that the Executive completes, signs and returns to the Plan Administrator to designate one or more Beneficiaries.
1.5.“Board” means the Board of Directors of the Company.
1.6.“Change in Control” means with respect to (i) the Company or an affiliate for whom the Executive is performing services at the time of the Change in Control Event, (ii) the Company or any affiliate that is liable for the payment to the Executive hereunder, (or all corporations liable for the payment if more than one corporation is liable) but only if either the deferred compensation is attributable to the performance of service by the Executive for such 

corporation (or corporations) or there is a bona fide business purpose for such corporation or corporations to be liable for such payment and, in either case, no significant purpose of making such corporation or corporations liable for such payment is the avoidance of Federal Income tax, or (iii) a corporation that is a majority shareholder of a corporation identified in paragraph (i) or (ii) of this section, or any corporation in a chain of corporations in which each corporation is a majority shareholder of another corporation in the chain, ending in a corporation identified in paragraph (i) or (ii) of this section, a Change in Ownership or Effective Control or a Change in the Ownership of a Substantial Portion of the Assets of a Corporation as defined in Section 409A of the Code, and the regulations or guidance issued by the Internal Revenue Service thereunder, meeting the requirements of a “Change in Control Event” thereunder.
1.7.“Disability” shall mean the Executive (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 twelve (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 twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company. Determination of such disability shall be made by the provider of such accident, long-term disability or health plan covering said Executive or by the Social Security Administration. Upon the request of the Company, the Executive must submit proof to the Company of the provider’s determination or Social Security Administration’s determination of disability. 
1.8.“ERISA” means the Employee Retirement Income Security Act of 1974.
1.9.“Rider” means the income rider attached to the Annuity Contract as an endorsement or other product feature that operates as an income rider, with such feature providing for a withdrawal or payment feature for the life of the annuitant.
1.10.“Normal Retirement Age” means age [sixty-three (63)/sixty-five (65)]2.
1.11.“Separation from Service” means separation from service as that term is defined and interpreted in Section 409A of the Code and Treasury Regulation §1.409A-1(h) or in subsequent regulations or other guidance issued by the Internal Revenue Service.
ARTICLE 2
ASSET FINANCING, OWNERSHIP AND RIGHTS
2.1.Annuity Contract and Other Investments.  For purposes of satisfying its obligations to provide benefits under this Plan, the Company has initially invested in the Annuity Contract and may invest in other investments.  However, nothing in this Section shall require the Company to invest in any particular form of investment.

2 Age sixty-three (63) for H. Charles Maddy, III and Scott C. Jennings plans and age sixty-five (65) for Robert S. Tissue, Patrick N. Frye and Bradford E. Ritchie.

2.2.Ownership of the Annuity Contract.  The Company is the sole owner of the Annuity Contract, and other such investments, and shall have the right to exercise all incidents of ownership.  The Company shall be the beneficiary of the death proceeds of the Annuity Contract.  The Company shall at all times be entitled to the Annuity Contract’s cash surrender value, as that term is defined in the Annuity Contract.
2.3.Right to Annuity Contract.  Notwithstanding any provision hereof to the contrary, the Company shall have the right to sell or surrender any Annuity Contract without terminating this Plan, provided the Company replaces the Annuity Contract with a comparable annuity policy, or asset of comparable value, with a comparable lifetime withdrawal feature and comparable benefit value.  Without limitation, the Annuity Contract at all times shall be the exclusive property of the Company and shall be subject to the claims of the Company’s creditors.
2.4.Rabbi Trust.  Company may establish a “rabbi trust” to which contributions may be made to provide the Company with a source of funds for purposes of satisfying the obligations of the Company under the Plan.  The trust shall constitute an unfunded arrangement and shall not affect the status of the Plan as an unfunded plan.  Neither the Executive nor the Beneficiary shall have any beneficial ownership interest in any assets held in the trust.
ARTICLE 3
RETIREMENT AND OTHER BENEFITS
3.1.Normal Retirement Benefit.  Upon the Executive’s attainment of Normal Retirement Age while in continuous service with the Company or an affiliate, the Executive will be entitled to the Normal Retirement Benefit.  The amount of the benefit will equal the amount that is provided by the Annuity Contract through the Rider, but in no event less than $___________3 annually.  The annual benefit will be paid in monthly installments commencing on the first (1st) day of the first month following the date of the later of (i) the Executive’s attainment of Normal Retirement Age, or (ii) the Executive’s Separation from Service, and continuing for the Executive’s lifetime.  Subject to paragraph 3.3, this shall be the Executive’s benefit in lieu of any other benefit under this Plan.
3.2.Change in Control Benefit.  If the Executive is actively employed at the time of a Change in Control, (provided that there has been no determination of Disability of the Executive prior to such Change in Control) the Executive will fully vest in the Normal Retirement Benefit as provided for in paragraph 3.1, with such benefit payable in the amount as provided for in paragraph 3.1.  The Company will establish a “rabbi trust”, if one has not already been established, for the purposes of this Plan, to which assets will be contributed to provide the Company with a source of funds for purposes of satisfying the obligations of the Company under the Plan.  The amount of the contribution to the “rabbi trust” will be the amount sufficient to satisfy the benefit under paragraph 3.1.  Benefits payable under this paragraph 3.2 will commence on the first day of the first month following the date of the later of the Executive’s attainment of Normal Retirement Age or Separation from Service and will continue for the 

3 $73,000 for H. Charles Maddy, III; $25,000 for Scott C. Jennings and Robert S. Tissue; $10,000 for Patrick N. Frye and $50,000 for Bradford E. Ritchie.

Executive’s lifetime.  Subject to paragraph 3.3, this shall be the Executive’s benefit in lieu of any other benefit under this Plan.
3.3.Death Benefits.  Upon the death of the Executive while in active service with the Company, following a determination of Disability or a Separation from Service but prior to commencement of benefits, or after benefit payments have commenced, provided that the Executive, as of the date of death, has attained Normal Retirement Age while in continuous service with the Company or an affiliate, or was actively employed with the Company at the time of a Change in Control or determination of Disability, the Company shall pay to the Executive’s Beneficiary the Account Balance, (or in the case of a determination of Disability prior to death, then as described under Section 3.4) which shall be payable in a lump sum on the first day of the second month following the date of such death.  This shall be the Executive’s benefit in lieu of any other benefit under this Plan.
3.4.Disability Benefit.  In the event the Executive should incur a Separation from Service as a result of Disability prior to Normal Retirement Age, and prior to any Change in Control, the Executive will be entitled to the monthly benefit payment described in this Section 3.4.  The amount of the benefit will be a percentage of the amount that is paid from the Annuity Contract through the Rider designated under this Plan to benefit the Executive.  The percentage is the ratio of the Account Balance on the date of Separation from Service to the projected Account Balance at Normal Retirement Age.  This percentage will be applied to the amount that is paid from the Annuity Contract through the Rider at Normal Retirement Age.  Benefit payments will commence on the first day of the first month following the Executive’s Normal Retirement Age and will continue for the Executive's lifetime. 
3.5.Restriction on Timing of Distributions.  Notwithstanding the applicable provisions of this Plan regarding timing of payments, the following special rules shall apply if the stock of the Company is publicly traded at the time of the Executive’s Separation from Service in order for this Plan to comply with Section 409A of the Code:  (i) to the extent the Executive is a “specified employee” (as defined under Section 409A of the Code) at the time of a distribution and to the extent such applicable provisions of Section 409A of the Code and the regulations thereunder require a delay of such distributions by a six-month period after the date of such Executive’s Separation from Service with the Company, no such distribution shall be made prior to the date that is six months after the date of the Executive’s Separation from Service with the Company, and (ii) any such delayed payments shall be paid to the Executive in a single lump sum on the first day of the seventh month after the date of the Executive’s Separation from Service.
ARTICLE 4
BENEFICIARIES
4.1.Beneficiary Designations.  The Executive shall have the right to designate at any time a Beneficiary to receive any benefits payable under this Plan upon the death of the Executive.  The Beneficiary designated under this Plan may be the same as or different from the Beneficiary designation under any other benefit plan of the Company in which the Executive participates.

4.2.Beneficiary Designation; Changes.  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.
4.3.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.
4.4.No Beneficiary Designation.  If the Executive dies without a valid Beneficiary designation, or if all designated Beneficiaries predecease the Executive, then the benefits shall be distributed to the personal representative of the Executive’s estate.
4.5.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 Company may pay such benefit to the guardian, legal representative, or person having the care or custody of the minor, incapacitated person, or incapable person.  The Company may require proof of incapacity, minority, or guardianship as it may deem appropriate before distribution of the benefit.  Distribution shall completely discharge the Company from all liability for the benefit.
ARTICLE 5
GENERAL LIMITATIONS
5.1.Limits on Payments.  Notwithstanding anything contained in this Plan to the contrary, it is understood and agreed that the Company shall not be required to make any payment or take any action under this Plan if:  (a) such payment or action is prohibited by any governmental agency having jurisdiction over the Company (hereinafter referred to as “Regulatory Authority”) in light of the fact that the Company has been declared by Regulatory Authority to be troubled, or operating in an unsafe or unsound matter; or (b) such payment or action (i) would be prohibited by or would violate any provision of state or federal law applicable to the Company, as now in effect or hereafter amended, (ii) would be prohibited by or would violate any applicable rules, regulations, orders or statements of policy, whether now existing or hereafter promulgated, of any Regulatory Authority, or (iii) otherwise would be prohibited by any Regulatory Authority.
5.2.Termination for Cause.  Notwithstanding anything to the contrary contained herein, in the event of the Executive’s termination for Cause, this Plan shall terminate and no benefits shall be payable under the Plan.  For this purpose, “Cause” shall mean the conviction of Executive for commission of a felony against the Company or any Affiliate.  If a dispute arises 

as to discharge “for cause”, such dispute shall be resolved by arbitration as set forth in this Plan.  In the alternative, if the Executive is permitted to resign due to conviction of a felony as described above, the Board of Directors may vote to deny all benefits.  A majority decision by the Board of Directors is required for forfeiture of the Executive’s benefits under the preceding sentence.
ARTICLE 6
CLAIMS AND REVIEW PROCEDURES
6.1.Claims Procedure.  A person or Beneficiary (a “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:
(a)Initiation - Written Claim.  The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits.  If the claim relates to the contents of a notice received by the claimant, the claim must be made within sixty (60) days after the notice was received by the claimant.  All other claims must be made within one hundred eighty (180) days after the date of the event that caused the claim to arise.  The claim must state with particularity the determination desired by the claimant.
(b)Timing of Plan Administrator Response.  The Plan Administrator shall respond to such claimant within ninety (90) days after receiving the claim (within forty-five (45) days for Disability benefits).  If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional ninety (90) days, (thirty (30) days for Disability) by notifying the claimant in writing, prior to the end of the initial ninety (90)-day period (or forty-five (45) days, as applicable), that an additional period is required.  The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.  If the extension is with respect to Disability benefits, the notice shall specifically explain the standards on which entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim, and the additional information needed to resolve those issues, and the claimant shall be given 45 days to provide the specified information.  The time period shall begin at the time a claim is filed, whether or not all information necessary for a determination accompanies the filing.  If the time period is extended due to insufficient information needed to decide a Disability claim, the period for making the Disability determination shall be tolled from the date on which the notification of the extension is sent to the claimant until the date on which the claimant responds to the request for additional information.
(c)Notice of Decision.  If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial.  The Plan 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)in the case involving Disability, a copy of any internal rule, guideline, protocol or other similar criterion that was relied upon in making the decision and, if based on a medical necessity or experimental treatment or similar exclusion or limit, either an explanation of the scientific or clinical judgment for the determination, or a statement that such explanation will be provided free of charge upon request.
6.2.Review Procedure.  If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial, as follows:
(a)Initiation - Written Request.  To initiate the review, the claimant, within sixty (60) days (180 days for a Disability claim) after receiving the Plan Administrator’s notice of denial, must file with the Plan 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 Plan 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 Plan 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)Additional Information For Disability.  In a claim for Disability, the following shall also apply:
(i)the review shall not give any deference to the initial adverse determination;
(ii)if the appeal is based in whole or in part on a medical judgment, the Company shall consult with a health care professional who has appropriate training and experience in the field of medicine involved in the medical judgment;

(iii)any medical or vocational experts whose advice was obtained in connection with the adverse determination shall be identified, without regard to whether the advice was relied upon in making the benefit determination; and
(iv)the health care professional engaged for purposes of a consultation under (b) above shall not be the individual who was consulted in connection with the adverse determination that is the subject of the appeal, nor the subordinate of any such individual.
(e)Timing of Plan Administrator Response.  The Plan Administrator shall respond in writing to such claimant within sixty (60) days after receiving the request for review.  If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan 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 Plan Administrator expects to render its decision.
(f)Notice of Decision.  The Plan Administrator shall notify the claimant in writing of its decision on review.  The Plan 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,
(iv)A statement of the claimant’s right to bring a civil action under ERISA Section 502(a), and
(v)in the case involving Disability benefits, a copy of any internal rule, guideline, protocol or other similar criterion that was relied upon in making the decision and, if the adverse determination is based on a medical necessity or experimental treatment or similar exclusion or limit, either an explanation of the scientific or clinical judgment for the determination, or a statement that such explanation will be provided free of charge upon request; and the following statement:  “You and your Plan may have other voluntary alternative dispute resolution options, such as mediation.  One way to find what may be available is to contact your local U.S. Department of Labor Office or your State insurance regulatory agency.

ARTICLE 7
MISCELLANEOUS
7.1.Amendments and Termination.  Subject to paragraph 7.13 of this Plan, this Agreement may be amended or terminated solely by a written agreement signed by the Company and by the Executive. 
7.2.No Guarantee of Employment.  This Plan is not an employment policy or contract.  It does not give any Executive the right to remain an employee of the Company, nor does it interfere with the Company’s right to discharge the Executive.  It also does not require any Executive to remain an employee nor interfere with any Executive’s right to terminate employment at any time.
7.3.Non-Transferability.  Benefits under this Plan cannot be sold, transferred, assigned, pledged, attached, or encumbered in any manner.
7.4.Tax Withholding.  The Company shall withhold any taxes that are required to be withheld from the benefits provided under this Plan.
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 Plan shall be governed by and construed in accordance with the laws of the State of West Virginia, without giving effect to the principles of conflict of laws of such state.
7.6.Unfunded Arrangement.  The Executive and the Beneficiary are general unsecured creditors of the Company for the payment of benefits under this Plan.  The benefits represent the mere promise by the Company to pay such benefits.  The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors.  Any insurance, annuity contract or other asset purchased by Company to fund its obligations under this Plan shall be a general asset of the Company to which the Executive and Beneficiary have no preferred or secured claim.
7.7.Benefit Provision.  Notwithstanding the provisions of this Plan in the payment of the benefits under Article 3, any benefits payable under this Plan are contingent solely upon the amount that is provided by the Annuity Contract(s) as identified in this Plan or other provision as provided for in Article 2.
7.8.Severability.  If any provision of this Plan is held invalid, such invalidity shall not affect any other provision of this Plan, and each such other provision shall continue in full force and effect to the full extent consistent with law.  If any provision of this Plan is held invalid in part, such invalidity shall not affect the remainder of the provision, and the remainder of such provision together with all other provisions of this Plan shall continue in full force and effect to the full extent consistent with law.
7.9.Headings.  The headings of articles herein are included solely for convenience of reference and shall not affect the meaning or interpretation of any provision of this Plan.

7.10.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.  Unless otherwise changed by notice, notice shall be properly addressed to the Executive if addressed to the address of the Executive on the books and records of the Company at the time of the delivery of such notice, and properly addressed to the Company if addressed to the Board, at P.O. Box 179, Moorefield, WV 26836.
7.11.Arbitration.  If a claimant(s) for benefits continues to dispute a benefit denial after following the Claims and Review Procedures provided in Article 6 herein, then claimant(s) may submit the dispute to an Arbitrator in West Virginia for final arbitration.  The Arbitrator shall be selected by mutual agreement of the Company and the claimant(s).  The Arbitrator shall operate under the rules then in effect of the American Arbitration Association.  The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Arbitrator with respect to any controversy properly submitted to it for determination.  Where a dispute arises as to the Company’s discharge of the Executive “for cause”, such dispute shall likewise be submitted to arbitration as above described and the parties hereto agree to be bound by the decision thereunder.
7.12.Payment of Legal Fees.  In the event litigation ensues between the parties concerning the enforcement of the obligations of the parties under this Plan, the Company shall pay all costs and expenses in connection with such litigation until such time as a final determination (excluding any appeals) is made with respect to the litigation.  If the Company prevails on the substantive merits of each material claim in dispute in such litigation, the Company shall be entitled to receive from the Executive all reasonable costs and expenses, including without limitation attorneys’ fees, incurred by the Company on behalf of the Executive in connection with such litigation, and the Executive shall pay such costs and expenses to the Company promptly upon demand by the Company.
7.13.Termination or Modification of Plan Because of Changes in Law, Rules or Regulations.  The Company is entering into this Plan on the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form.  If that assumption materially changes and the change has a material detrimental effect on this Plan, then the Company reserves the right to terminate or modify this Plan accordingly.
ARTICLE 8
ADMINISTRATION OF AGREEMENT
8.1.Plan Administrator Duties.  This Plan shall be administered by a Plan Administrator consisting of the Board or such committee or person(s) as the Board shall appoint.  The Plan Administrator shall have the sole and absolute discretion and authority to interpret and enforce all appropriate rules and regulations for the administration of this Plan and the rights of the Executive under this Plan, to decide or resolve any and all questions or disputes arising under this Plan, including benefits payable under this Plan and all other interpretations of this Plan, as may arise in connection with the Plan.  No benefit shall be payable hereunder to any person unless the Plan Administrator, in its sole discretion, determines such benefit is due.

8.2.Agents.  In the administration of this Plan, the Plan 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 Company.
8.3.Binding Effect of Decisions.  The decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration, interpretation, and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan.  Without limiting the foregoing, it is acknowledged that the value of the benefits payable hereunder may be difficult to determine in the event the Company does not actually purchase and maintain the Annuity Contract as contemplated hereunder; therefore, in such event, the Company shall have the right to make any reasonable assumptions in determining the benefits payable hereunder and any such determination made in good faith shall be binding on the Executive.
8.4.Indemnity of Plan Administrator.  The Plan Administrator shall not be liable to any person for any action taken or omitted in connection with the interpretation and administration of this Plan, unless such action or omission is attributable to the willful misconduct of the Plan Administrator or any of its members.  The Company shall indemnify and hold harmless the members of the Plan 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 Plan Administrator or any of its members.
8.5.Company Information.  To enable the Plan Administrator to perform its functions, the Company shall supply full and timely information to the Plan Administrator on all matters relating to the date and circumstances of the retirement, Disability, death, or Separation of Service of the Executive and such other pertinent information as the Plan Administrator may reasonably require.
This Supplemental Executive Retirement Plan Agreement is hereby adopted as of the date written above.
						
	THE EXECUTIVE:	SUMMIT COMMUNITY BANK

	                    
[H. CHARLES MADDY III/
SCOTT C. JENNINGS/ROBERT S. TISSUE, PATRICK N. FRYE/BRADFORD E. RITCHIE]
	By:                         

		Title:                         

SCHEDULE 1
to
SUMMIT COMMUNITY BANK
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

    This Schedule 1 to the Summit Community Bank Supplemental Executive Retirement Plan between Summit Community Bank and ______________ sets forth the rate of interest under Section 1.1 of the Agreement for purposes of determining accrual of appropriate reserves in the accrued liability retirement account and is incorporated as a part of the Agreement.  This Schedule 1 is effective ________________, 2021, and shall remain in effect unless amended or revised according to the provisions set forth in Section 1.1 of the Agreement.

Interest Rate        7 %

BENEFICIARY DESIGNATION
SUMMIT COMMUNITY BANK
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

I, [H. Charles Maddy, III, Scott C. Jennings/Robert S. Tissue/Patrick N. Frye/Bradford E. Ritchie], designate the following as Beneficiary of any death benefits under the Summit Community Bank Supplemental Executive Retirement Plan:
Primary:                                                                                                 
Contingent:                                                                                                 
Note:  To name a trust as Beneficiary, please provide the name of the trustee(s) and the exact name and date of the trust agreement.
I understand that I may change these Beneficiary designations by filing a new written designation with the Company.  I further understand that the designations 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:                        , 20__

Accepted by the Company this _______ day of ________________, 20__. 
By:                            

Print Name:                        

Title:Document

EXHIBIT 10.2
NOTICE OF STOCK-SETTLED STOCK APPRECIATION RIGHTS GRANT
Participant:            ____________________              
Notice:    You have been granted the following stock-settled stock appreciation rights (the “SARs”) in accordance with the terms of the Summit Financial Group, Inc. 2014 Long-Term Incentive Plan (the “Plan”) and the Stock-Settled Stock Appreciation Right Agreement (the “Agreement”) attached hereto.    
Type of Award:        Stock -Settled Stock Appreciation Rights
Grant Date:            July 15, 2021              
Strike Price per Share:    $21.85              
Number of Shares of 
Common Stock subject 
to SARs:            ____________              
Vesting Schedule:    The exercise of your SARs is subject to the terms of the Plan and this Agreement. Beginning on each of the following dates, which shall be no earlier than one year from the Grant Date, you may exercise your SARs with respect to the corresponding increase in Vesting percentage of the total number of Shares subject to your SARs in accordance with the schedule set forth below.
        Vesting Date                   Vested Percentage
        July 15, 2022                          20%
        July 15, 2023                        40%
        July 15, 2024                        60%
          July 15, 2025                        80%
          July 15, 2026                        100%

Termination:    You must remain continuously employed by Summit Financial Group, Inc. or its affiliates.  In the event of your termination of employment, including due to death or Disability, the exercisability and vesting of the SARs will be governed by Paragraph 5 of the Agreement, all subject to the terms and conditions of the Plan.
Expiration Date:    The SARs will expire ten years from the Grant Date, subject to earlier termination as set forth in the Plan and the attached Agreement.

SUMMIT FINANCIAL GROUP, INC. 2014 LONG-TERM INCENTIVE PLAN
STOCK-SETTLED STOCK APPRECIATION RIGHTS AGREEMENT
This Stock-Settled Stock Appreciation Right Agreement (this “Agreement”), effective as of the Grant Date set forth in the Notice of Stock-Settled Stock Appreciation Rights Grant attached hereto (the “Grant Notice”) is made between the Summit Financial Group, Inc. (the “Company”), and the Participant set forth in the Grant Notice. The Grant Notice is included in and made part of this Agreement. 
WHEREAS, the Company desires to grant an award of stock appreciation rights to the Participant under and pursuant to the Summit Financial Group, Inc. 2014 Long-Term Incentive Plan (the “Plan”); 
WHEREAS, the Company desires to evidence the award of a stock appreciation right to the Participant and to have the Participant acknowledge the terms and conditions of the stock appreciation right by this Agreement; and 
WHEREAS, the Committee (as defined in the Plan) or its delegate, as applicable, has approved this stock appreciation right award. 
NOW, THEREFORE, IT IS AGREED: 
1.Definitions. For purposes of this Agreement, all capitalized terms shall have the meaning as set forth in the Plan unless otherwise defined herein. 
(a)“Common Stock” shall mean the common stock of the Company, $2.50 par value. 
(b)Termination by “Disability” If a Participant’s continuous employment terminates prior to the Termination Date by reason of a permanent disability, as defined in Internal Revenue Code Section 22(e)(3) (the “Code”), as amended from time to time, and as determined by the Committee in its discretion based upon such documentation and information as the Committee may require the Participant to submit for purposes of establishing permanent disability pursuant to this Agreement. 
(c)“For Cause Termination” shall mean termination for the conviction of Participant for commission of a felony against the Company or any affiliate.  In the alternative, if Participant is permitted to resign due to conviction of a felon as described above, the Board of Directors may vote to immediately terminate all SARs of such Participant under this Agreement and no SARs shall be exercisable as of the date of such termination, regardless of whether any SAR was vested and exercisable prior to the date of such termination. A majority decision by the Board of Directors is required for termination and forfeiture of the Participant's SARs under the preceding sentence.

2.Grant of the SARs. Subject to the provisions of this Agreement and the provisions of the Plan, the Company hereby grants to the Participant, the right to receive from the Company an award of stock equal to the excess, if any, of the Fair Market Value of a share of Common Stock of the Company (each, a “Share”) on the date of exercise over the Strike Price (as defined in the Grant Notice, provided that in no event shall the Strike Price be less than the Fair Market Value as defined in the Plan on the Date of Grant) per Share (such difference, the “Spread”) multiplied by the number of Shares subject to the SARs with respect to which the SARs shall have been exercised.  The Spread shall be payable by the Company only in Shares of Common Stock; provided that to the extent a fractional share is earned, the number of Shares paid shall be rounded down to the nearest whole number and no fractional Share shall be issued.
3.Exercisability of the SARs. The SARs shall become exercisable in accordance with the Vesting Schedule and other terms set forth in the Grant Notice. The SARs shall terminate on the tenth anniversary of the Grant Date stated in the Grant Notice (the “Expiration Date”), subject to earlier termination as set forth in the Plan and this Agreement.
4.Method of Exercise of the SARs. The Participant may exercise the SARs, to the extent then vested and exercisable, by delivering an electronic notice to the Company’s stock plan administrator in a form satisfactory to the Committee and in accordance with the procedures established by the Company and the stock plan administrator, specifying the number of Shares with respect to which the SARs are being exercised. The SARs may be exercised at any time as to all or any of the SARs then vested hereunder; provided, however, that the SARs may be exercised only with respect to whole Shares. The Participant hereby acknowledges that his or her ability to exercise the SARs may be restricted by the Company’s Insider Trading Policy. 
5. Termination. Except as provided below, the SARs shall terminate and be forfeited upon termination of the Participant’s employment. Notwithstanding anything contained in this Agreement, the SARs shall not be exercised after the Expiration Date. 
(a)Death or Disability. The Committee has determined that an acceleration of vesting up to one calendar year is appropriate in the event of a Participant’s death or termination of employment due to Disability, as herein provided. If the Participant’s employment with the Company is terminated due to death or Disability, then the Participant shall immediately vest in the additional percentage of SARs, if any, that would have vested at the Vesting Date which falls after the date of death or date of termination of employment of Participant due to Disability, but within the calendar year in which the Participant died or terminated employment due to Disability, as if, for purposes of Vesting percentage only, the Participant had not died or terminated employment due to Disability, and had continued employment to such Vesting Date.  All vested SARs shall be exercisable for a period of two years from the date of death or termination of employment due to Disability; all vested SARs not exercised within said two year period shall be forfeited in their entirety.  All unvested SARs, shall be forfeited in their entirety. 
(b)For Cause Termination - Regardless of Vesting. If the Participant undergoes a For Cause Termination by the Company, then the SARs shall immediately terminate 

and no SARs shall be exercisable as of the date of such termination, regardless of whether any SAR was vested and exercisable prior to date of such termination.
(c) Other Terminations. Upon termination of the Participant’s employment by the Company or by the Participant other than under the circumstances described in Paragraphs 5(a) or 5(b), the SARs, to the extent vested and exercisable as of the date of such termination, shall thereafter be exercisable only for a period of ninety (90) days from the date of such termination, and any SAR that was not exercisable as of the date of such termination shall be immediately forfeited. 
6.Recapitalization. In the event that the outstanding Common Stock of the Company is changed by reason of a stock dividend, stock split, recapitalization, merger, consolidation, or a combination or exchange of shares, the number of Shares subject to the SARs shall be adjusted in compliance with Section 5 of the Plan. 
7.Compliance with Laws and Regulations. The Company shall not be obligated to make any payments pursuant to this Agreement unless the Shares subject to SARs are at that time effectively registered or exempt from registration under the Securities Act of 1933, as amended, and, as applicable, local laws. Notwithstanding the foregoing, the Company is under no obligation to register any Shares to be issued under this Agreement pursuant to federal or state securities laws. In addition, legal counsel for the Company must be satisfied at the time of exercise that the issuance of the shares of Stock upon exercise will be in compliance with the Securities Act and applicable United States Federal, state, local and foreign laws.  
8.Administration. By accepting any benefit under this Agreement, the Participant and any person claiming under or through the Participant shall be conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, all of the terms and conditions of the Plan and this Agreement and any action taken under the Plan by the Committee or the Company, in any case in accordance with the terms and conditions of the Plan. Unless defined herein, capitalized terms are used herein as defined in the Plan. In the event of any conflict between the provisions of the Plan and this Agreement, the provisions of the Plan shall control, and this Agreement shall be deemed to be modified accordingly. This Agreement is subject to all the terms, provisions and conditions of the Plan, which are incorporated herein by reference, and to such rules, policies and regulations as may from time to time be adopted by the Committee. All determinations and interpretations made by the Committee with regard to any question arising hereunder or under the Plan shall be binding and conclusive on the Participant and on his legal representatives and beneficiaries. This Agreement and the Plan and the other related agreements expressly referred to herein set forth the entire agreement and understanding between the parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof.  The headings of sections and subsections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of this Agreement. 
9. Tax Withholding. 

(a)Participant shall pay to the Company or a designated Subsidiary, promptly upon request, an amount equal to the taxes the Company determines it is required to withhold under applicable tax laws with respect to the SARs. 
(b)The Participant acknowledges that the tax laws and regulations applicable to the SARs and the disposition of the shares following the excise of SARs are complex and subject to change. At the time of receipt of a stock award upon the exercise of all or any portion of the SARs, and in any event at the time the Participant recognizes taxable income with respect to the SARs, the Participant shall pay to the Company in cash, or make other arrangements, in accordance with Section 13 of the Plan, for the satisfaction of, any taxes of any kind and social security payments due or potentially payable or required to be withheld with respect to such payment. Regardless of any action the Company takes with respect to any or all tax withholding (including social insurance contribution obligations, if any), the Participant acknowledges that the ultimate liability for all such taxes is and remains the Participant’s responsibility (or that of the Participant’s beneficiary), and that the Company does not: (a) make any representations or undertakings regarding the treatment of any tax withholding in connection with any aspect of the SARs, including the grant or vesting thereof; or (b) commit to structure the terms of the SARs or any aspect of the SARs to reduce or eliminate the Participant’s (or his or her beneficiary’s) liability for such tax.  In the event, the tax withholding obligations are settled in Shares, the Company will only withhold whole Shares and therefore the Participant also authorizes deduction without notice from salary or other amounts payable to the Participant of cash in an amount sufficient to satisfy the Participant’s remaining tax withholding obligation.
10.Non-Transferability. The SARs shall not be transferable otherwise than by will or the laws of descent and distribution, and is exercisable, during the lifetime of the Participant, only by him or her; provided, however, that the Committee may, in its discretion, permit the SARs to be transferred subject to such conditions and limitations as the Committee may impose. 
11.No Right to Continued Employment. The Company is not obligated by or as a result of the Plan or this Agreement to continue the Participant’s employment, and neither the Plan nor this Agreement shall interfere in any way with the right of the Company to terminate the employment of the Participant at any time.  The SARs are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company.
12.No Rights as a Stockholder. Neither the Participant nor any other person shall have any rights to dividends or other rights as a stockholder under this Agreement. 
13.Consent to Transfer Personal Data. By accepting the SARs, the Participant voluntarily acknowledges and consents to the collection, use, processing and transfer of personal data as described in this paragraph. The Participant is not obliged to consent to such collection, use, processing and transfer of personal data. However, failure to provide the consent may affect the Participant’s ability to participate in the Plan. The Company, holds certain 

personal information about the Participant, that may include his or her name, home address and telephone number, date of birth, social security number or other Participant identification number, salary grade, hire data, salary, nationality, job title, any shares of stock held in the Company, or details of all stock options, restricted stock awards or any other entitlement to shares of stock awarded, canceled, purchased, vested, or unvested, for the purpose of managing and administering the Plan (“Data”). The Company will transfer Data amongst itself as necessary for the purpose of implementation, administration and management of the Participant’s participation in the Plan, and the Company may further transfer Data to any third parties assisting Company in the implementation, administration and management of the Plan. The Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Plan, including any requisite transfer of such Data as may be required for the administration of the Plan, and/or the subsequent holding of shares of stock on the Participant’s behalf by, a broker or other third party with whom the Participant may elect to deposit any shares of stock acquired pursuant to the Plan. The Participant may, at any time, review Data, require any necessary amendments to it or withdraw the consents herein in writing by contacting the Company; provided, however, that withdrawing consent may affect the Participant’s ability to participate in the Plan.
14.Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 
15.Other Plans. The Participant acknowledges that any income derived from the exercise of the SARs shall not affect the Participant’s participation in, or benefits under, any other benefit plan or other contract or arrangement maintained by the Company.
16. Counterpart Execution. This Agreement has been executed in two counterparts, each of which shall be deemed an original and both of which constitute one and the same document. 
17.Section 409A. The SARs are intended to be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated and other official guidance issued thereunder (“Section 409A”). The Plan and this Agreement shall be administered and interpreted in a manner consistent with this intent. If the Company determines that the Agreement is subject to Section 409A and that it has failed to comply with the requirements of Section 409A, the Company may, in its sole discretion, and without the Participant’s consent, amend this Agreement to cause it to comply with or be exempt from Section 409A. 
18.Beneficiary. The Participant may designate a beneficiary in accordance with Section 11 of the Plan.  If at the time of Participant’s death, there is not an effective beneficiary designation on file or the Participant is not survived by the Participant’s designated beneficiary, Participant’s rights, if any, under the Plan and this Agreement shall be exercisable by the legal representative of Participant’s estate.

19.Governing Law. This Agreement shall be governed by the laws of the State of West Virginia and construed in accordance therewith without giving effect to principles of conflicts of laws. 
20.Restrictive Covenant; Clawback. 
(a)If, at any time within (A) the ten-year term of this grant; (B) two years after the termination of employment; or (C) two years after the Participant exercises any portion of this grant, whichever is the latest, the Participant, in the determination of the Committee of the Company, engages in any activity in competition with any activity of the Company, or inimical, contrary or harmful to the interests of the Company, including, but not limited to: 
i.Conduct related to his or her employment for which either criminal or civil penalties against him or her may be sought; 
ii.Material violation of Company policies, including, without limitation, the Company’s Insider Trading Policy; 
iii.Solicit, cause or induce any current contract holder or customer of Company or any affiliate to purchase services or products that compete directly or indirectly, with services or products offered by Company or any affiliate;
iv.Do anything to cause, persuade or encourage any contract holder or customer of Company or any affiliate to reduce, discontinue or terminate any Company policy, contract, product or service of any kind; 
v.Do anything to cause, persuade or encourage any employee or agent of Company or any affiliate to terminate their affiliation with Company or any affiliate; 
vi.Disclose or misuse any trade secret, Confidential Information or other non-public confidential or proprietary material concerning the Company or any affiliate; or  
vii.Without the prior written consent of the Company, directly or indirectly, and whether as principal or investor or as an employee, officer, director, manager, partner, consultant, agent, or otherwise, alone or in association with any other person, firm, corporation, or other business organization, become involved in a competing business, as reasonably determined  by the Board, within a seventy-five (75) mile radius of any office or branch owned by the Company or any of its Subsidiaries or affiliates, or engage during such period in any of the activities that comprise a competing business in said geographic area; provided, however, that the provisions of this Section shall apply solely to those activities of a competing business, with which the Participant was personally involved or for which the Participant was responsible while employed by the Company or its Subsidiaries or affiliates during the twelve (12) month period preceding termination of the Participant’s employment;  

then this SAR Award and all grants of stock appreciation rights under this Agreement held by the Participant shall terminate effective as of the date on which the Participant enters into such activity, unless terminated sooner by operation of another term or condition of this Agreement or the Plan, and the total of the gain realized by the Participant from the exercise of all or a portion of any grant of stock appreciation rights under this Agreement shall be repaid by the Participant to the Company. Such gain shall be calculated for each date on which SARs have been exercised based on the Spread for such date multiplied by the number of Shares subject to the SARs exercised on such date,  plus interest measured from the first date the Participant engaged in any of the prohibited activities set forth above at the rate of interest on judgments and decrees for the payment of money as set by the administrative office of the Supreme Court of Appeals of West Virginia on an annual basis in accordance with West Virginia Code Section 56-6-31. The total of the sum of the gain for each such date of exercise, plus the total of the sum of all such interest, shall be the amount to be repaid by the Participant to the Company.
(b)For purposes of this Paragraph 20, the phrase “current contract holder or customer of Company or any affiliate” means any contract holder or customer of Company or of Summit that becomes known to Participant during his or her employment with the Company.  The term “Company Information” means (i) any secret, proprietary or confidential information or data, including without limitation information received from third parties under confidential conditions; (ii) confidential customer data, including but not limited to customer names, addresses, phone numbers, insurance coverage, expiration dates, risk characteristics, premium rates, commission rates, insurance-loss data, business and personal financial statements, investment data, employee-census data, health information and the like; (iii) established business relationships with Company and its affiliates; and (iv) software and other technical, business, or financial information, the use or disclosure of which might reasonably be construed to be contrary to the interest of Company, its affiliates or their clients. 
(c)The Participant acknowledges that Participant’s engaging in activities and behavior in violation of Paragraph 20(a) above will result in a loss to the Company which cannot reasonably or adequately be compensated in damages in an action at law, that a breach of this Agreement will result in irreparable and continuing harm to the Company and that therefore, in addition to and cumulative with any other remedy which the Company may have at law or in equity, the Company shall be entitled to injunctive relief for a breach of this Agreement by the Participant. The Participant acknowledges and agrees that the requirement in Paragraph 20(a) above that Participant disgorge and pay over to the Company any gain realized by the Participant is not a provision for liquidated damages. The Participant agrees to pay any and all costs and expenses, including reasonable attorneys’ fees, incurred by the Company in enforcing any breach of any covenant in this Agreement. 
21.Waiver / Unsecured. By accepting the grant of the SARs or exercising it, the Participant waives any right to compensation or damages in consequence of the termination of his or her office or employment with the Company or any Subsidiary for any reason (and whether or not such termination is lawful) insofar as those rights arise or may arise, from his or 

her ceasing to have rights under or be entitled to exercise any SAR under the Plan as a result of such termination or from the loss or diminution in value of such rights or entitlement. Prior to the distribution of any shares hereunder, this Grant represents an unsecured obligation, payable only from the general assets of the Company.
22.Change in Control. Upon the occurrence of a Change in Control, as defined in the Plan, this Agreement and the SARs granted hereunder shall be governed by Section 11 of the Plan. 
23.Representations. The Participant has reviewed with his own tax advisors the applicable tax (U.S., foreign, state, and local) consequences of the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant understands that he or she (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions contemplated by this Agreement.
24.Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors and assigns to the Company and all persons lawfully claiming under Participant.
[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the Company has executed this Agreement as of the date first above written.  The Participant has accepted and executed this Agreement as of the date written below.  
 
        
SUMMIT FINANCIAL GROUP, INC.
By:     _______________________________
Its:_______________________________
    
Participant acknowledges receipt of a copy of the Plan, a copy of which is attached, and represents that he or she is familiar with the terms and provisions of the Plan.  Participant hereby accepts this SAR subject to all the terms and provisions of the Plan.  Participant hereby agrees to accept as binding, conclusive, and final all decisions and interpretations of the Committee, and, where applicable, the Board, upon any questions arising under the Plan.
PARTICIPANT
_______________________________
Dated: _______________________________

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