Document:

ex10-1.htm

    

      Exhibit
10.1

      

      Summary of Management
Incentive Compensation Plan for Fiscal 2008

      

      The Management Incentive Compensation
Plan for Fiscal 2008 (the “Bonus Plan”) for Frontier Oil Corporation (the
“Company”) establishes each participant’s Bonus Plan target as a percentage of
the participant’s base salary.  The amount of the actual bonus payment
could range from zero to twice the Bonus Plan target, based upon the extent to
which the pre-established annual financial goals are met or
exceeded.  The 2008 base salaries and Bonus Plan targets for the
Company’s named executive officers are set forth in the table
below.  The financial goals for the Bonus Plan during 2008 are based
on the Company’s 1) 2008 net income, 2) relative return on capital employed
versus a peer group average and 3) absolute return on capital employed and
safety performance.  These measures are weighted 40%, 40% and 20%,
respectively.

      

      Each participant will receive 30%, and
has the right to elect to receive up to 100%, of his or her bonus payment in
restricted shares of the Company’s common stock in lieu of cash, except that the
Chief Executive Officer may elect to receive all of his bonus payment in
cash.  If such an election is made to receive additional restricted
stock, then the amount of the bonus will be grossed up by a “risk premium” to be
established by the Compensation Committee (the “Committee”) of the Board of
Directors of the Company.  All shares of restricted stock will vest
25% on each of the first and second anniversaries of the grant date and 50% on
the third anniversary of the grant date.  The number of shares of
restricted stock that a participant receives will be determined by the average
closing price of the Company’s common stock during December 2008 and January
2009.

      

      The Committee has discretion to adjust
the financial targets for extraordinary items and for the effect of acquisitions
completed during the Bonus Plan year and to pay or not pay the bonuses for any
reason.

       

      

        
          	
                  Executive
      Officer

                	
                  2008
      Annual Base Salary

                	
                  Bonus
      Plan Target for 2008 (Percentage of Base Salary)

                
	
                  James
      R. Gibbs

                  Chairman
      of the Board, Chief Executive Officer and President

                	
                  $975,000

                	
                  100%

                
	
                  Michael
      C. Jennings

                  Executive
      Vice President-Chief Financial Officer

                	
                  $450,000

                	
                  70%

                
	
                  W.
      Paul Eisman

                  Executive
      Vice President-Refining & Marketing

                	
                  $500,000

                	
                  70%

                
	
                  Currie
      Bechtol

                  Vice
      President-General Counsel & Secretary

                	
                  $330,000

                	
                  50%

                
	
                  Jon
      D. Galvin

                  Vice
      President

                	
                  $295,000

                	
                  50%

                
	
                  Nancy
      J. Zupan

                  Vice
      President-Controller

                	
                  $295,000

                	
                  50%ex10c.htm

    
      

    

    Exhibit
10(c)

     

    
 

    AMENDED
AND RESTATED PROMISSORY NOTE

    

                                                                                                                        

    
    

     

    
      	 $465,000,000	  June 29,
      2007

    

     

    
 

    

    FOR VALUE RECEIVED, CROSSCOUNTRY
CITRUS, LLC, a Delaware limited liability company (“Borrower” or “CCC”),
promises to pay to the order of TRUNKLINE LNG HOLDINGS LLC, a Delaware limited
liability company (“Holder” or “Trunkline LNG”), the principal sum of Four
Hundred Sixty-Five Million Dollars ($465,000,000), together with interest
thereon at a rate per annum equal to the sum of  (i) the interest rate
payable from time to time by Trunkline LNG to the banks under that certain
Credit Agreement, of even date herewith (the “Credit Agreement”), among
Trunkline LNG, as borrower, Panhandle Eastern Pipe Line Company, LP and CCC, as
guarantors, the financial institutions listed on the signature pages thereof,
and Bayerische Hypo-Und Vereinsbank AG, New York Branch, as administrative agent
for the banks thereunder, plus (ii) 112.5 basis points (the “Interest
Rate”).

    

    No later than the thirtieth (30th) day
after the end of each fiscal quarter of the Borrower (with the first payment due
no later than July 30, 2008), the Borrower shall pay to Holder an amount equal
to the sum of (i) accrued interest on the principal amount from time to time
outstanding hereunder calculated at the Interest Rate plus (ii) the amount equal
to the cash dividends received by Borrower from Citrus Corp. (only to the extent
of Consolidated Net Income (as defined in the Credit Agreement) of Citrus Corp.)
during such fiscal quarter less any expenses or other liabilities of Borrower
(including, without limitation, the interest amounts required to be paid under
this Note) for such fiscal quarter plus (iii) 25% of  (a) special
dividends or distributions received by Borrower in such period less (b) any
special dividends or distributions that are required to be paid by Borrower to
third parties under indemnification or refund arrangements with such third
parties during such period, which amounts shall be deemed payments of principal
hereunder.  Such amounts shall be payable by Borrower to Holder at
5444 Westheimer Road, Houston, TX 77056, or at such other place as Holder may
designate in writing.

    

    In the event Borrower fails to make any
payment of principal or interest owing hereunder within ten (10) days of the
date when such payment is due and payable, Borrower shall pay to Holder a late
charge of two percent (2%) per annum of the amount of such overdue
payment.

    

    The entire principal amount
outstanding, and all accrued and unpaid interest, under this Note shall be due
and payable upon the earlier to occur of (i) demand by Holder and (ii) June 29,
2012.  Upon payment or prepayment of the entire principal amount of
this Note outstanding, and all accrued interest thereon, Holder shall surrender
the original copy of this Note to Holder for cancellation.  This Note
may be prepaid at any time without premium or penalty (other than the
reimbursement by CCC of any breakage fees owed by Holder to the lenders under
the Credit Agreement).

    

    Borrower expressly waives presentment,
demand, protest and notice of every kind.

    

    NOTWITHSTANDING ANY OTHER PROVISION
CONTAINED IN THIS DOCUMENT TO THE CONTRARY, THIS NOTE IS FULLY NONRECOURSE AS TO
THE MEMBER OF BORROWER, AND HOLDER HEREBY AGREES TO LOOK ONLY TO BORROWER TO
DISCHARGE ALL OF ITS OBLIGATIONS UNDER THIS NOTE.

    

    IN NO EVENT SHALL HOLDER LOOK TO THE
MEMBER OF BORROWER, ITS AFFILIATES OR ANY ENTITY RELATED THERETO TO SATISFY THE
OBLIGATIONS UNDER THIS NOTE.

    

    If the debt hereby evidenced is not
paid as it matures and is collected by suit or attorney, it is further agreed
that Borrower shall pay all court costs and reasonable attorneys’ fee incurred
by Holder in connection therewith.

    

    THIS NOTE shall be governed by and
construed in accordance with the laws of the State of Texas, without giving
effect to the principles of conflict of laws thereof.

    

    

    IN WITNESS WHEREOF, Borrower has caused
this Note to be duly executed by its authorized officer as of the date first
written above.

    

    

    

    CROSSCOUNTRY CITRUS, LLC

    

    

    

    By: /s/ RICHARD N.
MARSHALL

          Richard N.
Marshall

          Senior
Vice President and Chief Financial Officerexhibit4-1.htm

    EXHIBIT
      4.1

    

    PEOPLES
      BANCORP
      INC.

    138
      Putnam Street

    Marietta,
      OH  45750

    (740)
      373-3155

    

    

    

    

    

    

    February
      29, 2008

    

    

    Securities
      and Exchange Commission

    100
      F
      Street, N.E.

    Washington,
      D.C.  20549

    

    

    RE:  Peoples
      Bancorp Inc. – Annual Report on Form 10-K for the fiscal year ended December 31,
      2007

    

    

    Ladies
      and Gentlemen:

    

    Peoples
      Bancorp Inc., an Ohio corporation, is today filing its Annual Report on Form
      10-K for the fiscal year ended December 31, 2007 (the “Form 10-K”), as executed
      on February
      29, 2008.

    

    Pursuant
      to the provisions of Item 601(b)(4)(iii) of SEC Regulation S-K, Peoples Bancorp
      Inc. hereby agrees to furnish to the SEC, upon request, copies of instruments
      and agreements defining (i) the rights of holders of Peoples Bancorp Inc.’s
      long-term debt or (ii) the rights of holders of the long-term debt of one of
      its
      consolidated subsidiaries, not being filed or incorporated by reference as
      an
      exhibit to the Form 10-K.  Such long-term debt does not exceed 10% of
      the total assets of Peoples Bancorp Inc. and its subsidiaries on a consolidated
      basis.

    

    Very
      truly yours,

    

    Peoples
      Bancorp Inc.

    

    /s/
      CAROL A. SCHNEEBERGER

    Carol
      A.
      Schneeberger

    Chief
      Financial Officer and Treasurerexhibit10-1c.htm

    EXHIBIT
      10.1(c)

    

    

    RABBI
      TRUST AGREEMENT

    

    

    THIS
      AGREEMENT, made this 6th
      day of
      January, 1998 by and between Peoples Bancorp Inc. (the "Corporation") and The
      Peoples Banking and Trust Company (the "Trustee").

    

    

    WITNESSETH:

    

    WHEREAS,
      the Corporation has adopted the Peoples Bancorp Inc. Deferred Compensation
      Plan
      for Directors of Peoples Bancorp Inc. and Subsidiaries (the
      "Plan");

    

    WHEREAS,
      the Corporation has incurred or expects to incur liability under the terms
      of
      such Plan with respect to the individuals participating in such
      Plan;

    

    WHEREAS,
      the Corporation wishes to establish a trust (hereinafter called "the Trust")
      and
      to contribute to the Trust assets that shall be held therein, subject to the
      claims of the Corporation's creditors in the event of the Corporation's
      Insolvency, as herein defined, until paid to Plan participants and their
      beneficiaries in such manner and at such times as specified in the
      Plan;

    

    WHEREAS,
      it is the intention of the parties that this Trust shall constitute an unfunded
      arrangement and shall not affect the status of the Plan as an unfunded plan
      maintained for the purpose of providing deferred compensation for the
      participants and beneficiaries of the Plan;

    

    WHEREAS,
      it is the intention of the Corporation to make contributions to the Trust to
      provide itself with a source of funds to assist it in the meeting of its
      liabilities under the Plan;

    

    NOW,
      THEREFORE, the parties do hereby establish the Trust and agree that the Trust
      shall be comprised, held and disposed of as follows:

    

    

    Section
      1

    

    Establishment
      of
      Trust

    

               
      (a)            The
      Corporation hereby deposits with the Trustee in trust Five Hundred Thousand
      Dollars ($500,000), which shall become the principal of the Trust to be held,
      administered and disposed of by the Trustee as provided in this Trust
      Agreement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

        (b)           
      The Trust hereby established shall be irrevocable.

    

               
      (c)            The Trust
      is intended to be a grantor trust, of which the Corporation is the grantor,
      within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle
      A of
      the Internal Revenue Code of 1986, as amended (the "Code"), and shall be
      construed accordingly.

     

        (d)           
      The principal of the Trust, and any earnings thereon, shall be held separate
      and
      apart from other funds of the Corporation and shall be used exclusively for
      the
      uses and purposes of Plan participants and general creditors as herein set
      forth. Plan participants and their beneficiaries shall have no preferred claim
      on, or any beneficial ownership interest in, any assets of the Trust. Any rights
      created under the Plan and this Trust Agreement shall be mere unsecured
      contractual rights of Plan participants and their beneficiaries against the
      Corporation. Any assets held by the Trust will be subject to the claims of
      the
      Corporation's general creditors under federal and state law in the event of
      Insolvency, as defined in Section 3(a) herein.

        

        (e)           
      The Corporation, in its sole discretion, may at any time, or from time to time,
      make additional deposits of cash or other property in trust with the Trustee
      to
      augment the principal to be held, administered and disposed of by the Trustee
      as
      provided in this Trust Agreement. Neither the Trustee nor any Plan participant
      or beneficiary shall have any right to compel such additional
      deposits.

    

    

    Section
      2

    

    Payments
      to Plan
      Participants

    and
      Their
      Beneficiaries

        

        (a)           
      The Corporation shall deliver to the Trustee a schedule (the "Payment Schedule")
      that indicates the amounts payable in respect of each Plan participant and
      his
      or her beneficiaries, that provides a formula or other instructions acceptable
      to the Trustee for determining the amounts so payable, the form (cash,
      securities or other assets) in which such amount is to be paid (as provided
      for
      or available under the Plan) and the time of commencement for payment of such
      amounts. Except as otherwise provided herein, the Trustee shall make payments
      to
      the Plan participants and their beneficiaries in accordance with such Payment
      Schedule. The Trustee shall make provision for the reporting and withholding
      of
      any federal taxes that may be required to be withheld with respect to the
      payment of benefits pursuant to the terms of the Plan and shall pay amounts
      withheld to the appropriate taxing authorities or determine that such amounts
      have been reported, withheld and paid by the Corporation.

     

         (b)           
      The entitlement of a Plan participant or his or her beneficiaries to benefits
      under the Plan shall be determined by the Corporation or such party as it shall
      designate under the Plan, and any claim for such benefits shall be considered
      and reviewed under the procedures set out in the Plan.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    (c)           
      The Corporation may make payment of benefits directly to Plan participants
      or
      their beneficiaries as they become due under the terms of the Plan. The
      Corporation shall notify the Trustee of its decision to make payment of benefits
      directly prior to the time amounts are payable to participants or their
      beneficiaries. In addition, if the principal of the Trust, and any earnings
      thereon, are not sufficient to make payments of benefits in accordance with
      the
      terms of the Plan, the Corporation shall make the balance of each such payment
      as it falls due. The Trustee shall notify the Corporation if principal and
      earnings are not sufficient.

    

    

    Section
      3

    

    Trustee
      Responsibility
      Regarding Payments

    to
      Trust Beneficiary When
      Corporation is Insolvent

    

    (a)           
      The Trustee shall cease payment of benefits to Plan participants and their
      beneficiaries if the Corporation is Insolvent. The Corporation shall be
      considered "Insolvent" for purposes of this Trust Agreement if (i) the
      Corporation is unable to pay its debts as they become due; or (ii) the
      Corporation is subject to a pending proceeding as a debtor under the United
      States Bankruptcy Code.

    

    (b)           
      At all times during the continuance of this Trust, as provided in Section 1(d)
      hereof, the principal and income of the Trust shall be subject to claims of
      general creditors of the Corporation under federal and state law as set forth
      below.

    

     (i)    The
      Board of Directors and the President of the Corporation shall have the duty
      to
      inform the Trustee in writing of the Corporation's Insolvency.  If a
      person claiming to be a creditor of the Corporation alleges in writing to the
      Trustee that the Corporation has become Insolvent, the Trustee shall determine
      whether the Corporation is Insolvent and, pending such determination, the
      Trustee shall discontinue payment of benefits to Plan participants or their
      beneficiaries.

    

           (ii)   Unless
      the Trustee has actual knowledge of the Corporation's Insolvency, or has
      received notice from the Corporation or a person claiming to be a creditor
      alleging that the Corporation is Insolvent, the Trustee shall have no duty
      to
      inquire whether the Corporation is Insolvent.  The Trustee may in all
      events rely on such evidence concerning the Corporation's solvency as may be
      furnished to the Trustee and that provides the Trustee with a reasonable basis
      for making a determination concerning the Corporation's solvency.

    

    (iii)  If
      at any time the Trustee has determined that the Corporation is Insolvent, the
      Trustee shall discontinue payments to Plan participants or their beneficiaries
      and shall hold the assets of the Trust for the benefit of the Corporation's
      general creditors.  Nothing in the Trust Agreement shall in any way
      diminish any rights of Plan participants or their beneficiaries to pursue their
      rights as general creditors of the Corporation with respect to benefits due
      under the Plan or otherwise.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (iv)   The
      Trustee shall resume the payment of benefits to Plan participants or their
      beneficiaries in accordance with Section 2 of this Trust Agreement only after
      the Trustee has determined that the Corporation is not Insolvent (or is no
      longer Insolvent).

    

    (c)           
      Provided that there are sufficient assets, if the Trustee discontinues the
      payment of benefits from the Trust pursuant to Section 3(b) hereof and
      subsequently resumes such payments, the first payment following such
      discontinuance shall include the aggregate amount of all payments due to Plan
      participants or their beneficiaries under the terms of the Plan for the period
      of such discontinuance, less the aggregate amount of any payments made to Plan
      participants or their beneficiaries by the Corporation in lieu of the payments
      provided for hereunder during any such period of discontinuance.

    

    

    Section
      4

    

    Payments
      to the
      Corporation

    

    Except
      as
      provided in Section 3 hereof, after the Trust has become irrevocable, the
      Corporation shall have no right or power to direct the Trustee to return to
      the
      Corporation or to divert to others any of the Trust assets before all payment
      of
      benefits have been made to Plan participants and their beneficiaries pursuant
      to
      the terms of the Plan.

    

    

    Section
      5

    

    Investment
      Authority

    

    

    (a)           
      It is intended that a portion of the assets of the Trust will be invested by
      the
      Trustee in securities (including stock or rights to acquire stock) or
      obligations issued by the Corporation (the "Corporation Stock"). All rights
      associated with assets of the Trust shall be exercised by the Trustee or the
      person designated by the Trustee, including, but not limited to, the voting
      rights with respect to Corporation Stock. The Corporation shall have the right
      from time to time in its sole discretion, to substitute assets of equal fair
      market value for any asset held by the Trust. This right is exercisable by
      the
      Corporation in a nonfiduciary capacity without the approval or consent of any
      person in a fiduciary capacity.

    

    (b)           
      The Trustee may purchase and sell Corporation Stock for the Plan wherever the
      Corporation Stock is traded, in the over-the-counter market or in negotiated
      transactions. The Trustee shall purchase and sell Corporation Stock for the
      Plan
      on such terms as to price, delivery and otherwise as the Trustee determines
      in
      its sole discretion. It is the intent of the Corporation and the Trustee that
      to
      the extent Corporation Stock is to be purchased for the Plan in the open market,
      the Trustee shall cause each such purchase to be made by an entity (the
      "Purchasing Agent") which qualifies as an "agent independent of the issuer,"
      as
      that term is used in Rule 10b-18 promulgated under the Securities Exchange
      Act
      of 1934, as amended.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      No
        Purchasing Agent may be an affiliate of the Corporation.  In addition,
        neither the Corporation nor any of its subsidiaries or affiliates (including
        the
        Trustee) nor the Plan Administrator (as defined in the Plan) may exercise
        any
        direct or indirect control or influence over the times when, or the prices
        at
        which, shares of Corporation Stock are purchased by the Purchasing Agent,
        the
        amount of Corporation Stock to be purchased, the manner in which purchases
        are
        made or the selection of the broker or dealer (other than the Purchasing
        Agent
        itself) through whom the purchases are executed.

       

    

    (c)           
      With respect to the portion of the assets of the Trust which are not invested
      in
      Corporation Stock, the Trustee shall invest and reinvest such assets and keep
      them invested, without distinction between principal and income, in three (3)
      year certificates of deposit or an equivalent deposit account. In making such
      investments, the Trustee shall not be restricted from investing assets of the
      Trust in certificates of deposit or other deposit accounts offered by the
      Trustee.

    

    

    Section
      6

    

    Disposition
      of
      Income

    

    During
      the term of this Trust, all income received by the Trust, net of any expenses
      and taxes paid from the Trust as provided in this Trust Agreement, shall be
      accumulated and reinvested.

    

    

    

    Section
      7

    

    Accounting
      by the
      Trustee

    

    The
      Trustee shall keep accurate and detailed records of all investments, receipts,
      disbursements, and all other transactions required to be made, including such
      specific records as shall be agreed upon in writing between the Corporation
      and
      the Trustee. Within 90 days following the close of each calendar year and within
      90 days after the removal or resignation of the Trustee, the Trustee shall
      deliver to the Corporation a written account of its administration of the Trust
      during such year or during the period from the close of the last preceding
      year
      to the date of such removal or resignation, setting forth all investments,
      receipts, disbursements and other transactions effected by it, including a
      description of all securities and investments purchased and sold with the cost
      or net proceeds of such purchases or sales (accrued interest paid or receivable
      being shown separately), and showing all cash, securities and other property
      held in the Trust at the end of such year or as of the date of such removal
      or
      resignation, as the case may be.

    

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    Section
      8

    

    Responsibility
      of the
      Trustee

    (a)           
      The Trustee shall act with the care, skill, prudence and diligence under the
      circumstances then prevailing that a prudent person acting in like capacity
      and
      familiar with such matters would use in the conduct of an enterprise of a like
      character and with like aims; provided, however, that the Trustee shall incur
      no
      liability to any person for any action taken pursuant to a direction, request
      or
      approval given by the Corporation which is contemplated by, and in conformity
      with, the terms of the Plan or this Trust and is given in writing by the
      Corporation. In the event of a dispute between the Corporation and a party,
      the
      Trustee may apply to a court of competent jurisdiction to resolve the
      dispute.

    

    (b)           
      If the Trustee undertakes or defends any litigation arising in connection with
      this Trust, the Corporation agrees to indemnify the Trustee against the
      Trustee's costs, expenses and liabilities (including, without limitation,
      attorneys' fees and expenses) relating thereto and to be primarily liable for
      such payments. If the Corporation does not pay such costs, expenses and
      liabilities in a reasonably timely manner, the Trustee may obtain payment from
      the Trust.

    

    (c)           
      The Trustee may consult with legal counsel (who may also be counsel for the
      Corporation generally) with respect to any of its duties or obligations
      hereunder.

    

    (d)           
      The Trustee may hire agents, accountants, actuaries, investment advisors,
      financial consultants or other professionals to assist it in performing any
      of
      its duties or obligations hereunder.

    

    (e)           
      The Trustee shall have, without exclusion, all powers conferred on Trustees
      by
      applicable law, unless expressly provided otherwise herein; provided, however,
      that if an insurance policy is held as an asset of the Trust, the Trustee shall
      have no power to name a beneficiary of the policy other than the Trust, to
      assign the policy (as distinct from conversion of the policy to a different
      form) other than to a successor Trustee or to loan to any person the proceeds
      of
      any borrowing against such policy.

    

    (f)           
      Notwithstanding any powers granted to the Trustee pursuant to this Trust
      Agreement or to applicable law, the Trustee shall not have any power that could
      give this Trust the objective of carrying on a business and dividing the gains
      therefrom, within the meaning of Section 301.7701-2 of the Procedure and
      Administrative Regulations promulgated pursuant to the Code.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    Section
      9

    

    Compensation
      and Expenses of
      the Trustee

    

    The
      Corporation shall pay all administrative expenses and the Trustee's fees and
      expenses.  If not so paid, the fees and expenses shall be paid from
      the Trust.  The Trustee's fees shall be mutually agreed to between the
      Corporation and the Trustee.

    

    

    Section
      10

    

    Resignation
      and Removal of
      the Trustee

    

    (a)           
      The Trustee may resign at any time by written notice to the Corporation, which
      shall be effective 30 days after receipt of such notice unless the Corporation
      and the Trustee agree otherwise.

    

    (b)           
      The Trustee may be removed by the Corporation on 30 days' notice or upon shorter
      notice accepted by the Trustee.

    

    (c)           
      Upon resignation or removal of the Trustee and appointment of a successor
      Trustee, all assets shall subsequently be transferred to the successor Trustee.
      The transfer shall be completed within 60 days after receipt of notice of
      resignation, removal or transfer, unless the Corporation extends the time
      limit.

    

    (d)           
      If the Trustee resigns or is removed, a successor shall be appointed, in
      accordance with Section 11 hereof, by the effective date of resignation or
      removal under paragraphs (a) or (b) of this section. If no such appointment
      has
      been made, the Trustee may apply to a court of competent jurisdiction for
      appointment of a successor or for instructions. All expenses of the Trustee
      in
      connection with the proceeding shall be allowed as administrative expenses
      of
      the Trust.

    

    (e)           
      Upon resignation or removal of the Trustee and appointment of a successor
      Trustee, all assets shall subsequently be transferred to the successor Trustee.
      The transfer shall be completed within 60 days after receipt of notice of
      resignation, removal or transfer, unless the Corporation extends the time
      limit.

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    Section
      11

    

    Appointment
      of
      Successor

    

    (a)           
      If the Trustee resigns or is removed in accordance with Section 10(a) or (b)
      hereof, the Corporation may appoint any third party, such as a bank trust
      department or other party that may be granted corporate trustee powers under
      state law, as a successor to replace the Trustee upon resignation or removal.
      The appointment shall be effective when accepted in writing by the new Trustee,
      who shall have all of the rights and powers of the former Trustee, including
      ownership rights in the Trust assets. The former Trustee shall execute any
      instrument necessary or reasonably requested by the Corporation or the successor
      Trustee to evidence the transfer.

    

    (b)           
      The successor Trustee need not examine the records and acts of any prior Trustee
      and may retain or dispose of existing Trust assets, subject to Sections 7 and
      8
      hereof. The successor Trustee shall not be responsible for and the Corporation
      shall indemnify and defend the successor Trustee from any claim or liability
      resulting from any action or inaction of any prior Trustee or from any other
      past event, or any condition existing at the time it becomes successor
      Trustee.

    

    Section
      12

    

    Amendment
      or
      Termination

    

    (a)           
      This Trust Agreement may be amended by a written instrument executed by the
      Trustee and the Corporation. Notwithstanding the foregoing, no such amendment
      shall conflict with the terms of the Plan or shall make the Trust
      revocable.

    

    (b)           
      The Trust shall not terminate until the date on which Plan participants and
      their beneficiaries are no longer entitled to benefits pursuant to the terms
      of
      the Plan. Upon termination of the Trust, any assets remaining in the Trust
      shall
      be returned to the Corporation.

    

    

    Section
      13

    

    Miscellaneous

    

    (a)           
      Any provision of this Trust Agreement prohibited by law shall be ineffective
      to
      the extent of any such prohibition, without invalidating the remaining
      provisions hereof.

    

    (b)           
      Benefits payable to Plan participants and their beneficiaries under this Trust
      Agreement may not be anticipated, assigned (either at law or in equity),
      alienated, pledged, encumbered or subjected to attachment, garnishment, levy,
      execution or other legal or equitable process.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    (c)           
      This Trust Agreement shall be governed by and construed in accordance with
      the
      laws of the State of Ohio.

    

    

    Section
      14

    

    Effective
      Date

    

    The
      effective date of this Trust Agreement shall be January 2, 1998.

    

    

    IN
      WITNESS WHEREOF, the undersigned authorized officers of the parties have
      executed this Trust Agreement as of the date first above written, to be
      effective as of the date specified in Section 14 hereof.

    

    

     
                                 PEOPLES
      BANCORP
      INC.

    

                                       By:/s/
      ROBERT E.
      EVANS

           

                                                                                                                                   Its:
President
&
      CEO                                                                      

    

    

    

                                      THE
      PEOPLES BANKING AND TRUST
      COMPANY

    

                                      By:/s/
      JEFFREY D.
      WELCH

    

                                      Its:
Vice
      President

    

    
      
        
        

      

      
        9

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