Document:

EXHIBIT 10.2

 

QCR HOLDINGS INC. NON-QUALIFIED

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(AMENDED AND RESTATED DECEMBER 22, 2016)

 

JOINDER AGREEMENT

 

The Executive specified below is hereby participating
in the QCR Holdings, Inc. Non-Qualified Supplemental Executive Retirement Plan (Amended and Restated December 22, 2016) (the “Plan”).
In addition to the terms of the Plan, the Executive and the Employer agree that the Executive’s terms of participation are
also subject to the following terms and conditions. In the event that any terms or conditions of the Plan are inconsistent with
or contrary to the terms of this Joinder Agreement, the terms of this Joinder Agreement shall control.

 

Section 1.Terms of Joinder Agreement.
The following words and phrases relate to Executive’s participation in the Plan:

 

		(i)	The “Executive” is John H. Anderson.
	 	 	 

		(ii)	The “Employer” is Quad City Bank and Trust Company, and any successors
thereto.
	 	 	 

		(iii)	The “Original Effective Date” is January 1, 2017.
	 	 	 

		(iv)	The “Benefit Age” is age 65.
	 	 	 

		(v)	The “Survivor’s Benefit” covered by insurance is $84,000 annually for
15 years.
	 	 	 

Section 2.Modifications to Plan
Provisions. Solely for purposes of determining the Executive’s benefits (or the benefits of the Executive’s Beneficiary)
under the Plan, the following provisions shall apply in place of the existing provisions of the Plan:

 

		(i)	Section 1.34 “Supplemental Retirement Benefit” means an annual amount equal to $84,000.
The Supplemental Retirement Benefit shall be payable in monthly installments throughout the Payout Period.
	 	 	 

		(ii)	Section 1.35 “Supplemental Early Retirement Benefit” means an annual amount payable
under Section 4.7 of the Plan in the event of the Executive’s Early Retirement.
	 	 	 

		(iii)	Section 4.7 Early Retirement Benefit Prior to Benefit Age. If the Executive terminates employment
due to Early Retirement prior to attainment of his Benefit Age, the Executive shall be entitled to receive the Supplemental Early
Retirement Benefit. The Supplemental Early Retirement Benefit shall be:

 

     

     

    

 

	 	If the Executive’s Early Retirement occurs:	Then the Supplemental Early Retirement Benefit will be:
	 	On or after attaining age 55, but before attaining age 56	$20,000.00
	 	On or after attaining age 56, but before attaining age 57	$20,633.22
	 	On or after attaining age 57, but before attaining age 58	$25,297.74
	 	On or after attaining age 58, but before attaining age 59	$30,447.63
	 	On or after attaining age 59, but before attaining age 60	$36,124.45
	 	On or after attaining age 60, but before attaining age 61	$42,372.72
	 	On or after attaining age 61, but before attaining age 62	$49,241.04
	 	On or after attaining age 62, but before attaining age 63	$56,780.86
	 	On or after attaining age 63, but before attaining age 64	$65,048.19
	 	On or after attaining age 64, but before attaining age 65	$74,102.93

 

	 	 	Such benefit shall commence on the Executive’s
Benefit Commencement Date and shall be payable in monthly installments throughout the Payout Period. In the event the Executive
dies following his Termination of Employment prior to completion of all such payments due and owing hereunder, the Employer shall
pay to the Executive’s Beneficiary a lump sum payment equal to the Accrued Benefit at the time of death.
	 	 	 
		(iv)	Section 4.8 Change in Control Termination. If the Executive experiences a Change in Control
Termination, the Executive shall be entitled to receive the Executive’s Supplemental Early Retirement Benefit; provided,
however, if the Change in Control Termination occurs before the Executive’s attainment of age 55, the Executive shall receive
the age 55 Supplemental Early Retirement Benefit and, if the Change in Control Termination occurs on or after the Executive’s
attainment of age 65, the Executive shall receive the Supplemental Retirement Benefit. Unless otherwise provided in the Joinder
Agreement, such benefit shall commence on the Executive’s Benefit Commencement Date and shall be payable in monthly installments
throughout the Payout Period. In the event the Executive dies following his Change in Control Termination and prior to commencement
or completion of all such payments due and owing hereunder, the Employer shall pay to the Executive’s Beneficiary a lump
sum payment equal to the Accrued Benefit at the time of death.
	 	 	 
	

     

     

    

	 	 	 

		(v)	Section 4.9 Termination for Cause. Other than with respect to a Change in Control Termination,
if the Executive is terminated for Cause, all benefits under this Plan shall be forfeited and this Plan shall become null and void
with respect to the Executive or the Executive’s Beneficiaries. In the event of a Change in Control Termination for Cause,
the benefit hereunder shall be the Supplemental Early Retirement Benefit determined on the Change in Control date.

 

Section 3.Elections.

 

		(i)	I elect to have the Survivor’s Benefit paid [X] in a single lump sum*, or [__] in 180 monthly
installments. (Failure to elect one method will result in the Survivor’s Benefit being paid in a single lump sum*.)
	 	 	 

		(ii)	I elect to have the Change in Control Termination Benefit paid [__] in a single lump sum*, or [X]
in 180 monthly installments. (Failure to elect one method will result in the Change in Control Termination Benefit being paid in
a single lump sum*.)

 

* Lump sum payment amounts will be calculated
based on a discounted present value using the Interest Factor.

 

Section 4.Participation. Executive
understands that this Joinder Agreement must be executed and provided to the Administrator in order for Executive to continue his
participation in the Plan and that by executing this Joinder Agreement Executive acknowledges and agrees to the amendment and restatement
of the Plan as provided therein.

 

Section 5.Miscellaneous. Executive
understands that he is entitled to review or obtain a copy of the Joinder Agreement and the Plan, at any time, and may do so by
contacting the Employer.

 

Section 6.Effective Date.
This Joinder Agreement shall become effective upon its execution by both the Executive and a duly authorized officer of the Employer.

 

IN WITNESS WHEREOF, the Employer has
caused this Joinder Agreement to be executed by its duly authorized officer, and Executive has signed this Agreement as of the
dates set forth below.

 

 

 

	/s/ John H. Anderson	 	12/15/16
	John H. Anderson	 	Date
	 	 	 
	/s/ Douglas M. Hultquist	 	12/22/16
	Quad City Bank and Trust Company	 	Date
	 	 	 
	By:  	Douglas M. Hultquist	 	 
	 	 	 	 
	Its:	Authorized signerExhibit 10.8

 

Material
Terms of Agreements

 

Summary of
Deed of Assignment pursuant to a Public-Private Partnership (PPP)

 

	 	 BIOCRUDE TECHNOLOGIES, INC.
        
         

        GOVERNMENT OF THE AUTONOMOUS ISLAND OF
        GRANDE COMORE

        (MORONI)
        
	 

 

	
        CONTRACT SUMMARY 

        CONFIDENTIAL

 

	Agreement Reference:	BIOCRUDE/MCMUC/AUTONOMOUS ISLAND OF GRANDE COMORE/MSW-LC/CA/2016/1	Transaction Code:	BCT/MCMUC/MORONI/AUTONOMOUS ISLAND OF GRANDE COMORE/1

 

	Title of Agreement(s):	DEED OF ASSIGNMENT PURSUANT TO A PUBLIC-PRIVATE PARTNERSHIP (PPP)
	Parties:	
        MINISTÈRE DE LA PRODUCTION, DE L'ENVIRONNEMENT, DE
        L'ÉNERGIE, DE L'INDUSTRIE ET DE L'ARTISANAT DE L’UNION DES COMORES;

        MINISTÈRE DES FINANCES, DE L’ÉCONOMIE,
        DU BUDGET DE L’INVESTISSEMENT ET DU COMMERCE EXTÉRIEUR CHARGÉ DES PRIVATISATIONS DE L’UNION DES COMORES;
        

        (All referred to as “Government”)

                                  &

        BIOCRUDE TECHNOLOGIES, INC. (referred to as “BioCrude”)

	Date:	January 11, 2016	Documentation Signed:	Yes
	Changes/Amendments:	December 10, 2016
	Contract Object:	This Deed of Assignment embodies the engagement of the Assignor (Government) to authorize the Assignee (BioCrude) to Conceive, Design, Finance, Construct, Maintain and Exploit Municipal Solid Waste to Energy Complexes in the municipalities within the Autonomous Island of Grande Comore, Union of the Comoros to treat MSW, procure renewable energy and other inter-related marketable by-products (organic fertilizer, fly ash, primary materials for construction materials).
	Principal Obligations and Undertakings:	
        BioCrude:
        to Develop MSW to Energy Complex (MSW-Energy)
        in Moroni, Autonomous Island of Grande Comore via BOOT.

        Government: to fully engage and execute the minimum
        guaranteed MSW (“Put or Pay”); Land and Treated Sewage Effluent Agreements, and the Power Purchase Agreement (PPA)
        with BioCrude (Exclusive); Grant the necessary Permits & Clearances; allow BioCrude to operate; Provide Sovereign Guarantees
        for the Execution of all Agreement Obligations and define BioCrude’s fiscal taxation policy (exempt from corporate income
        taxes for duration of contract, as well as all import duties, taxes, levies for all materials, equipment and rolling stock required
        for the development of the MSW to Energy complex)

 

     

     

    

 

	Term/Duration:	30 Years	Renewal option:	30 Years

  

	Termination Events, Procedures and Indemnities:	Yes; Party Default & Force Majeure; Procedures outlined in Agreements

  

	Change of Control Clause:	Yes; to the Discretion of BioCrude Technologies, Inc.	Assignment Restrictions:	None
	Governing Law:	Ontario, Canada	Dispute Resolution Jurisdiction:	Ontario, Canada

  

	Force majeure:	Yes; standard and satisfactory to both parties.
	Change of law:	Not applicable; prescribed contract (Grandfathered). Law at signature prevails for duration of term and renewal option.
	Guarantees:	Sovereign Guarantees provided by Government of Autonomous Island of Grande Comore for FULL EXECUTION of their obligations in Contracts.
	Limitation on Liability:	Yes; only due to Force majeure.
	Exclusion of Liability:	None
	Liquidated Damages:	Yes; upon breach of execution of obligations from either party.
	Penalties for Non-Performance:	None
	Termination:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).
	Intellectual Property Rights:	BioCrude Technologies, Inc. (FULL); No intellectual property transfer
	Health, Safety & Environmental Issues:	Obligation to bring installations into compliance at start-up, and sustain throughout operation. 

  

	Performance Bond:	None	Additional Insurance:	 
	Company Point of Contact:	Mr. John Moukas	Program Management:	 

  

	Other Contract Issues:	None
	Associated Contracts:	Municipal Solid Waste Concession Agreement, Land Lease Agreement & Supply of Treated Sewage / Effluent Agreement(s) and Power Purchase Agreement (PPA)

  

     

     

    

 

Summary of
Municipal Solid Waste Concession Agreement, Land Lease Agreement & Supply of Treated Sewage / Effluent Agreement

 

	 	
        BIOCRUDE TECHNOLOGIES, INC.
        

         

        GOVERNMENT OF THE AUTONOMOUS ISLAND OF
        GRANDE COMORE 

        (MORONI)
        
	 

 

	
        CONTRACT SUMMARY 

        CONFIDENTIAL

 

	Agreement Reference:	BIOCRUDE/MCMUC/AUTONOMOUS ISLAND OF GRANDE COMORE/MSW-LC/CA/2016/1	Transaction Code:	BCT/MCMUC/MORONI/AUTONOMOUS ISLAND OF GRANDE COMORE/1

 

	Title of Agreement(s):	MUNICIPAL SOLID WASTE CONCESSION AGREEMENT, LAND LEASE AGREEMENT & SUPPLY OF TREATED SEWAGE / EFFLUENT AGREEMENT
	Parties:	
        MINISTÈRE DE LA PRODUCTION, DE L'ENVIRONNEMENT, DE
        L'ÉNERGIE, DE L'INDUSTRIE ET DE L'ARTISANAT DE L’UNION DES COMORES;

        MINISTÈRE DES FINANCES, DE L’ÉCONOMIE,
        DU BUDGET DE L’INVESTISSEMENT ET DU COMMERCE EXTÉRIEUR CHARGÉ DES PRIVATISATIONS DE L’UNION DES COMORES;
        

        LA VILLE DE MORONI;

        (All referred to as “Government”)

        &

        BIOCRUDE TECHNOLOGIES, INC. (referred to as “BioCrude”)

 

	Date:	January 11, 2016	Documentation Signed:	Yes
	Changes/Amendments:	December 10, 2016
	Contract Object:	Develop, Construct, Operate, Maintain & Exploit an MSW to Energy Complex (MSW-Energy) in Moroni, Autonomous Island of Grande Comore via BOOT
	Principal Obligations and Undertakings:	
        BioCrude:
        to Develop MSW to Energy Complex (MSW-Energy)
        in Moroni, Autonomous Island of Grande Comore via BOOT.

        Government: to supply: minimum guaranteed MSW (“Put
        or Pay”); Land, Treated Sewage Effluent; Grant the necessary Permits & Clearances; allow BioCrude to operate; Provide
        Sovereign Guarantees for the Execution of all Agreement Obligations.

	Term/Duration:	30 Years	Renewal option:	30 Years
	 	 	 	 	 

 

     

     

    

 

	Termination Events, Procedures and Indemnities:	Yes; Party Default & Force Majeure; Procedures outlined in Agreements
	Change of Control Clause:	Yes; to the Discretion of BioCrude Technologies, Inc.	Assignment Restrictions:	None
	Governing Law:	Ontario, Canada	Dispute Resolution Jurisdiction:	Ontario, Canada
	Force majeure:	Yes; standard and satisfactory to both parties.
	Change of law:	Not applicable; prescribed contract (Grandfathered). Law at signature prevails for duration of term and renewal option.

  

	Land Lease:	Area of land:	12 Hectares	Lease Payment:	$1 US per 18 acres per year for the duration of term and option (no escalations), with compliant zoning and building by-laws for project.
	Supply of Treated Effluent by Government STP:	Off-Take:	Up to 10,000,000 Litres/Day	Resource Payment by BioCrude:	0.0000001 USD per kilolitre (kL)

  

	Minimum Amount of Delivered MSW (Guaranteed; Put or Pay):	700 TPD; Refer to Schedule 1.	Tipping Fee:	Refer to Schedule 1.
	Payment Terms:	Upon presentation of Invoice and offset from Revolving Letter of Credit (RLC); amount of escrowed RLC is for 12 months of future payment.
	Guarantees:	Sovereign Guarantees provided by Government of Autonomous Island of Grande Comore for FULL EXECUTION of their obligations in Contracts.
	Limitation on Liability:	Yes; only due to Force majeure.
	Exclusion of Liability:	None
	Liquidated Damages:	Yes; upon breach of execution of obligations from either party.
	Penalties for Non-Performance:	None
	Termination:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).
	Intellectual Property Rights:	BioCrude Technologies, Inc. (FULL); No intellectual property transfer
	Health, Safety & Environmental Issues:	Obligation to bring installations into compliance at start-up, and sustain throughout operation. 

  

	Performance Bond:	None	Additional Insurance:	 

  

     

     

    

 

	Company Point of Contact:	Mr. John Moukas	Program Management:	 
	Other Contract Issues:	None
	Associated Contracts:	Power Purchase Agreement (PPA) & Deed of Assignment pursuant to a Public-Private Partnership (PPP)
	 	 	 	 	 

 

Summary of
Power Purchase Agreement (PPA)

 

	 	
         BIOCRUDE TECHNOLOGIES,
        INC.         

         

        GOVERNMENT OF THE AUTONOMOUS ISLAND OF
        GRANDE COMORE 

        (MORONI)
	 

 

	
        CONTRACT SUMMARY

        CONFIDENTIAL

 

	Agreement Reference:	BIOCRUDE/MCMUC/AUTONOMOUS ISLAND OF GRANDE COMORE/MSW-LC/CA/2016/1	Transaction Code:	BCT/MCMUC/MORONI/AUTONOMOUS ISLAND OF GRANDE COMORE/1

 

	Title of Agreement(s):	POWER PURCHASE AGREEMENT (PPA)
	Parties:	
        LE GESTION DE L'EAU ET DE L'ÉLECTRICITÉ AUX
        COMORES (MA-MWE);

        (referred to as “Procurer”)

        BIOCRUDE TECHNOLOGIES, INC.; (referred to as “Vendor”)

        &

        MINISTÈRE DE LA PRODUCTION, DE L'ENVIRONNEMENT, DE
        L'ÉNERGIE, DE L'INDUSTRIE ET DE L'ARTISANAT DE L’UNION DES COMORES;

        MINISTÈRE DES FINANCES, DE L’ÉCONOMIE,
        DU BUDGET DE L’INVESTISSEMENT ET DU COMMERCE EXTÉRIEUR CHARGÉ DES PRIVATISATIONS DE L’UNION DES COMORES;
        (All referred to as “Intervenants”)

 

	Date:	 January 11, 2016	Documentation Signed:	Yes
	Changes/Amendments:	December 10, 2016

 

	Contract Object:	
         

        Resale of Procured Electricity under “Take or Pay”
        principle from BioCrude’s MSW-Energy Plant to the Autonomous Island of Grande Comore’s (Government) Power Corporation
        (MA-MWE).

	Principal Obligations and Undertakings:	
        BioCrude: to procure electricity from its developed MSW-Energy
        Project, using MSW as feedstock.

        Government: to buy all available electricity (net
        of project self-consumption needs) from BioCrude. Provide Sovereign Guarantees & Revolving Letter of Credit (1 year’s
        Revenues) for the Execution of all Agreement Obligations. 

 

	Term/Duration:	30 Years	Renewal option:	30 Years

 

     

     

    

 

	Termination Events, Procedures and Indemnities:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).

 

	Change of Control Clause:	Yes; to the Discretion of BioCrude Technologies, Inc.	Assignment Restrictions:	None
	Governing Law:	Ontario, Canada	Dispute Resolution Jurisdiction:	Ontario, Canada

 

	Electricity Act:	The Autonomous Island of Grande Comore Law n°________
	Force majeure:	Yes; standard and satisfactory to both parties.
	Change of law:	Not applicable; prescribed contract (Grandfathered). Law at signature prevails for duration of term and renewal option.
	Resale of Electricity rates:	Refer to Schedule 1.
	Payment Terms:	Upon presentation of Invoice and offset from Revolving Letter of Credit (RLC); amount of escrowed RLC is for 12 months of future payment (for duration of 30 year term).
	Guarantees:	Sovereign Guarantees provided by Government of Autonomous Island of Grande Comore for FULL EXECUTION of their obligations in Contracts.
	Limitation on Liability:	Yes; only due to Force majeure.
	Exclusion of Liability:	None
	Liquidated Damages:	Yes; upon breach of execution of obligations from either party.
	Penalties for Non-Performance:	None
	Termination:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).
	Intellectual Property Rights:	BioCrude Technologies, Inc. (FULL); No intellectual property transfer
	Health, Safety & Environmental Issues:	Obligation to bring installations into compliance at start-up, and sustain throughout operation. 
	Regulations regarding Electricity Act of Autonomous Island of Grande Comore:	Obligation to bring installations into compliance to the standards established by the Electricity Act of Autonomous Island of Grande Comore, at start-up, and sustain throughout operation.

 

	Performance Bond:	None	Additional Insurance:	 
	Company Point of Contact:	Mr. John Moukas	Program Management:	 

 

	Other Contract Issues:	None
	Associated Contracts:	Municipal Solid Waste Concession Agreement, Land Lease Agreement & Supply of Treated Sewage / Effluent Agreement(s) & Deed of Assignment pursuant to a Public-Private Partnership (PPP)

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