Document:

Exhibit 10.2

REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (this "Agreement") is made and entered into as of December __, 2016, by and among NABUFIT Global, Inc., a Delaware corporation (the "Company"), and the investors signatory hereto (each a "Purchaser" and collectively, the "Purchasers").

This Agreement is made pursuant to the Common Stock Subscription Agreement, dated as of December 12, 2016, among the Company and the Purchasers (the "Subscription Agreement").

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchasers agree as follows:

1. Definitions. Capitalized terms used and not otherwise defined herein that are defined in the Subscription Agreement shall have the meanings given such terms in the Subscription Agreement. As used in this Agreement, the following terms shall have the respective meanings set forth in this Section 1:

"Advice" shall have the meaning set forth in Section 7(d).

"Affiliate" means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act.

"Commission" means the United States Securities and Exchange Commission, or any successor entity or entities, including, if applicable, the staff of the Commission.

"Common Stock" means the common stock, par value $0.0001 per share, of the Company.

"Control" (including the terms "controlling," "controlled by" or "under common control with") means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

"Effectiveness Date" means: (a) with respect to the Registration Statement required to be filed hereunder, the earlier of the 180th day following the final Closing Date of the Offering and the date that is five (5) Trading Days following the date on which the Company has been notified by the Commission that the Commission has completed its review of such Registration Statement or that such Registration Statement will not be reviewed, and (b) with respect to any additional Registration Statements which may be required pursuant to Section 2, the earlier of the 180th day following the date on which the Company first knows, or reasonably should have known, that such additional Registration Statement is required under such Section and the date that is five (5) Trading Days following the date on which the Company has been notified by the Commission that the Commission has completed its review of such Registration Statement or that such Registration Statement will not be reviewed. If the Effectiveness Date falls on a Saturday, Sunday or other date that the Commission is closed for business, the Effectiveness Date shall be extended to the next day on which the Commission is open for business.

"Effectiveness Period" shall have the meaning set forth in Section 2(a).

"Exchange Act" means the Securities Exchange Act of 1934, as amended.

"Filing Date" means: (a) with respect to the Registration Statement, the 90th calendar day following the final Closing Date of the Offering, and (b) with respect to any additional Registration Statements that may be

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required pursuant to Section 2 hereof, the 90th day following the date on which the Company first knows, or reasonably should have known, that such additional Registration Statement is required under such Section.

"Holder" or "Holders" means the holder or holders, as the case may be, from time to time of Registrable Securities.

"Indemnified Party" shall have the meaning set forth in Section 6(c).

"Indemnifying Party" shall have the meaning set forth in Section 6(c).

 "Losses" shall have the meaning set forth in Section 6(a).

"Operative Documents" shall have the meaning set forth in the Subscription Agreement.

"Person" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"Principal Market" means the national securities exchange, the OTC Markets Group or such other securities market or quotation system, which at the time constitutes the principal securities market for the Common Stock.

"Proceeding" means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened.

"Prospectus" means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or Rule 430B promulgated by the Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus.

"Reduction Securities" shall have the meaning set forth in Section 2(b).

 

"Registrable Securities" means the Shares issued pursuant to the Subscription Agreement; provided, however, that any such Registrable Securities shall cease to be Registrable Securities (and the Company shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto) for so long as (a) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective Registration Statement, or (b) such Registrable Securities have been previously sold in accordance with Rule 144 or Regulation S.

"Registration Statement" means each of the following: (i) an initial registration statement which is required to register the resale of the Registrable Securities, (ii) an amendment to the current Registration Statement in which the Registrable Securities are added as additional registered securities and (iii) each additional registration statement, if any, contemplated by Section 2, and including, in each case, the Prospectus, amendments and supplements to each such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement.

"Rule 144" means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

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"Rule 415" means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

"Rule 424" means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

"Securities Act" means the Securities Act of 1933, as amended.

"Shares" shall have the meaning set forth in the Subscription Agreement.

"Trading Day" means any day on which the Common Stock is traded on the OTC Market, or, if the OTC Market is not the principal trading market for the Common Stock, then on the principal securities exchange, securities market or inter-dealer quotation system on which the Common Stock is then listed or quoted for trading, or in the event that the Common Stock is not listed or quoted as set forth hereof, then Trading Day shall mean a business day.

2. Registration.

(a) On the earlier of (i) each Filing Date or upon demand under Section 2(b), the Company shall prepare and file with the Commission a Registration Statement covering the resale of all of the Registrable Securities that are not then registered on an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement filed hereunder shall contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) the "Plan of Distribution" in substantially the form attached hereto as Annex A. The Company shall use its commercially reasonable efforts to cause a Registration Statement filed under this Agreement to be declared effective under the Securities Act promptly but, in any event, no later than the Effectiveness Date for such Registration Statement, and shall, subject Section 7(d) hereof, use its commercially reasonable efforts to keep such Registration Statement continuously effective under the Securities Act until the earlier of (i) the date that is two years from the date it is declared effective by the Commission and (ii) the date on which all securities under such Registration Statement have ceased to be Registrable Securities (the "Effectiveness Period"). Notwithstanding the foregoing, the Company shall be entitled to suspend the effectiveness of the Registration Statement at any time prior to the expiration of the Effectiveness Period for up to an aggregate of thirty (30) consecutive Trading Days or an aggregate of sixty (60) Trading Days (which need not be consecutive) in any given 360-day period if the Company, in the good faith judgment of its board of directors, determines (because of the existence of, or in anticipation of, any acquisition, financing activity, or other transaction involving the Company, or the unavailability for reasons beyond the Company's control of any required financial statements, disclosure of information which is in its best interest not to publicly disclose, or any other event or condition of similar significance to the Company) that the registration and distribution of the Registrable Securities to be covered by such Registration Statement, if any, would be seriously detrimental to the Company and its stockholders, in each case commencing on the day the Company notifies the Holders that they are required, because of the determination described above, to suspend offers and sales of Registrable Securities. Any such suspension shall end on the earlier of (1) the date upon which the material non-public information resulting in the suspension period is disclosed to the public or ceases to be material and (2) such time as the Company notifies the selling Holders that sales pursuant to such Registration Statement or a new or amended Registration Statement may resume. It is agreed and understood that the Company shall, from time to time, be obligated to file one or more additional Registration Statements to cover any Registrable Securities on or prior to each Filing Date which are not registered for resale pursuant to a pre-existing Registration Statement.

(b) Upon written request at any time (subject to the next sentence) by holders of Registrable Securities representing in the aggregate at least 20% of the total number of Registrable Securities at the time of such request, the Company shall use its best efforts to effect the registration under the Securities Act and registration or qualification under all applicable state securities laws of the Registrable Securities, as requested by the holders of Registrable Securities.  Holders of Registrable Securities may require the Company to effect no more than three

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such registrations under the Securities Act, in the aggregate, upon the request of the holders of Registrable Securities pursuant to this Section 2.1 (the "Demand Registrations")

 (i) Whenever the Company shall be requested, pursuant to Section 2(b) hereof, to effect the registration of any of the Registrable Securities under the Securities Act (a "Request for Registration"), the Company shall promptly give written notice of such proposed registration to all holders of Registrable Securities and thereupon shall, as expeditiously as possible, use its best efforts to effect the registration under the Securities Act and under all applicable state securities laws of the following: (i) all Registrable Securities that the Company has been requested to register pursuant to the Request for Registration; and (ii) all other Registrable Securities that the holders of Registrable Securities have, within 30 days after the Company has given such notice, requested in writing the Company to register.

(c) Notwithstanding anything contained herein to the contrary, in the event that the Commission limits the amount of Registrable Securities that may be included and sold by Holders in any Registration Statement, including the Registration Statement, pursuant to Rule 415 or any other basis, the Company may reduce the number of Registrable Securities included in such Registration Statement on behalf of the Holders in whole or in part (in case of an exclusion as to a portion of such Registrable Securities, such portion shall be allocated pro rata in proportion to the number of Registrable Securities held by each Holder thereof) (such Registrable Securities, the "Reduction Securities"). In such event the Company shall give the Holders prompt notice of the number of such Reduction Securities excluded and the Company will not be liable for any damages under this Agreement in connection with the exclusion of such Reduction Securities. The Company shall use its commercially reasonable efforts at the first opportunity that is permitted by the Commission to register for resale the Reduction Securities. Such new Registration Statement shall contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) the "Plan of Distribution" in substantially the form attached hereto as Annex A. The Company shall use its commercially reasonable efforts to cause each such Registration Statement to be declared effective under the Securities Act as soon as possible but, in any event, no later than the Effectiveness Date, and shall use its commercially reasonable efforts to keep such Registration Statement continuously effective under the Securities Act during the entire Effectiveness Period, subject to Section 7(d) hereof. Notwithstanding the foregoing, the Company shall be entitled to suspend the effectiveness of such Registration Statement at any time prior to the expiration of the Effectiveness Period for the reasons and time periods referred to in Section 2(a) above.

(d) The Company will be entitled to postpone the filing period (or suspend the effectiveness) of any registration requested pursuant to Section 2 (b) above for a reasonable period of time (not to exceed 90 calendar days in any 12-month period for a Demand Registration), if the Company determines, in the good faith exercise of its reasonable business judgment, that such registration and offering could materially interfere with bona fide financing plans of the Company or would require disclosure of information, the premature disclosure of which could materially and adversely affect the Company.  If the Company postpones the filing of a Registration Statement, it will promptly notify the holders of Registrable Securities in writing when the events or circumstances permitting such postponement have ended.  The Company may not invoke this right more than once in any 12 month period.

3. Registration Procedures.

In connection with the Company's registration obligations hereunder, the Company shall:

(a) Not less than three Trading Days prior to the filing of a Registration Statement or any related Prospectus or any amendment or supplement thereto, the Company shall furnish to the Holders copies of all such documents proposed to be filed (other than those incorporated by reference). Notwithstanding the foregoing, the Company shall not be required to furnish to the Holders any prospectus supplement being prepared and filed solely to name new or additional selling securityholders unless such Holders are named in such prospectus supplement. In addition, in the event that any Registration Statement is on Form S-1 (or other form which does not permit incorporation by reference), the Company shall not be required to furnish to the Holders any prospectus supplement containing information included in a report or proxy statement filed under the Exchange Act that would be incorporated by reference in such Registration Statement if such Registration Statement were on Form S-3 (or other form which permits incorporation by reference). The Company shall duly consider any comments made by Holders

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and received by the Company not later than two Trading Days prior to the filing of the Registration Statement, but shall not be required to accept any such comments to which it reasonably objects.

(b) (i) Prepare and file with the Commission such amendments, including post-effective amendments, to each Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement continuously effective as to the applicable Registrable Securities for its Effectiveness Period and prepare and file with the Commission such additional Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented or amended to be filed pursuant to Rule 424; (iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to each Registration Statement or any amendment thereto and, as promptly as reasonably possible provide the Holders true and complete copies of all correspondence from and to the Commission relating to such Registration Statement that pertains to the Holders as Selling Stockholders but not any comments that would result in the disclosure to the Holders of material and non-public information concerning the Company; and (iv) comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the Registration Statements and the disposition of all Registrable Securities covered by each Registration Statement.

(c) Notify the Holders as promptly as reasonably possible (and, in the case of (i)(A) below, not less than three Trading Days prior to such filing) and (if requested by any such Person) confirm such notice in writing no later than one Trading Day following the day: (i)(A) when a Prospectus or any prospectus supplement (but only to the extent notice is required under Section 3(a) above) or post-effective amendment to a Registration Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will be a "no review," "review" or a "completion of a review" of such Registration Statement and whenever the Commission comments in writing on such Registration Statement (in which case the Company shall provide true and complete copies thereof and all written responses thereto to each of the Holders that pertain to the Holders as a Selling Stockholder or to the Plan of Distribution, but not information which the Company believes would constitute material and non-public information); and (C) with respect to each Registration Statement or any post-effective amendment, when the same has been declared effective; (ii) of any request by the Commission or any other federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to the Holders as Selling Stockholders or the Plan of Distribution; (iii) of the issuance by the Commission of any stop order suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any

notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; (v) of the occurrence of any event or passage of time that makes the financial statements included or incorporated by reference in a Registration Statement ineligible for inclusion or incorporation by reference therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and (vi) of the occurrence or existence of any pending corporate development with respect to the Company that the Company believes may be material and that, in the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a Registration Statement or Prospectus; provided, that any and all of such information shall remain confidential to each Holder until such information otherwise becomes public, unless disclosure by a Holder is required by law; provided, further, that notwithstanding each Holder's agreement to keep such information confidential, each such Holder makes no acknowledgement that any such information is material, non-public information.

(d) Use its reasonable best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

(e) Furnish to each Holder, without charge, at least one conformed copy of each Registration Statement and each amendment thereto and all exhibits to the extent reasonably requested by such Person (including those

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previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission; provided, that the Company shall have no obligation to provide any document pursuant to this clause that is available on the EDGAR system.

(f) Promptly deliver to each Holder, without charge, as many copies of each Prospectus or Prospectuses (including each form of prospectus) and each amendment or supplement thereto as such Persons may reasonably request. Subject to Section 7(d) hereof, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto.

(g) Use its commercially reasonable efforts to register or qualify or cooperate with the selling Holders in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of those jurisdictions within the United States as any Holder reasonably requests in writing to keep each such registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by the Registration Statements; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or subject the Company to any material tax in any such jurisdiction where it is not then so subject.

(h) Cooperate with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to the Registration Statements, which certificates shall be free, to the extent permitted by the Subscription Agreement, of all restrictive legends, and to enable such Registrable Securities to be in such denominations and registered in such names as any such Holders may request.

(i) Upon the occurrence of any event contemplated by Section 3(c)(v), as promptly as reasonably possible, prepare a supplement or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

(j) The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially owned by such Holder and any Affiliate thereof, the natural persons thereof that have voting and dispositive control over the shares and any other information with respect to such Holder as the Commission requests.

4. Holder's Obligations. Each Holder agrees, by acquisition of the Registrable Securities, that no Holder shall be entitled to sell any of such Registrable Securities pursuant to a Registration Statement or to receive a Prospectus relating thereto, unless such Holder has furnished the Company with all material information required to be set forth in the Purchaser Questionnaire and Selling Stockholder Questionnaire pursuant to the Subscription Agreement. Any sale of any Registrable Securities by any Holder shall constitute a representation and warranty by such Holder that the information regarding such Holder is as set forth in the Prospectus delivered by such Holder in connection with such disposition, and that such Prospectus does not as of the time of such sale contain any untrue statement of a material fact regarding such Holder or omit to state any material fact regarding such Holder necessary to make the statements in such Prospectus, in the light of the circumstances under which they were made, not misleading, solely to the extent such facts are based upon information regarding such Holder furnished in writing to the Company by such Holder for use in such Prospectus.

5. Registration Expenses. All fees and expenses incident to the Company's performance of or compliance with its obligations under this Agreement (excluding any underwriting discounts and selling commissions) shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with the Principal

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Market on which the Common Stock is then listed for trading, and (B) in compliance with applicable state securities or Blue Sky laws), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing prospectuses if the printing of prospectuses is reasonably requested by the holders of a majority of the Registrable Securities included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) reasonable fees and disbursements of counsel for the Company, (v)  Securities Act liability insurance, if the Company so desires such insurance, and (vi) reasonable fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company be responsible for any broker or similar commissions of any Holder or, except to the extent provided for in the Transaction Documents, any legal fees or other costs of the Holders.

6. Indemnification.

(a) Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder, the officers, directors, agents, partners, members, stockholders and employees of each Holder, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, agents, partners, members, stockholders and employees of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys' fees) and expenses (collectively, "Losses"), as incurred, arising out of or relating to any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for this purpose), or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, except to the extent, but only to the extent, that (1) such untrue statements, alleged untrue statements, omissions or alleged omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such information relates to such Holder or such Holder's proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for this purpose) or (2) in the case of an occurrence of an event of the type specified in Section 3(c)(ii)-(v), the use by such Holder of an outdated or defective Prospectus after the Company has validly notified such Holder in writing (in accordance with Section 7(h) below) that the Prospectus is outdated or defective and prior to the receipt by such Holder of an Advice (as defined below) or an amended or supplemented Prospectus, but only if and to the extent that following the receipt of the Advice or the amended or supplemented Prospectus the misstatement or omission giving rise to such Loss would have been corrected. The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the Company is aware in connection with the transactions contemplated by this Agreement.

(b) Indemnification by Holders. Each Holder shall, notwithstanding any termination of this Agreement, severally and not jointly, indemnify and hold harmless the Company, its directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents, partners, members, stockholders or employees of such controlling Persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising solely out of or based solely upon: (x) for so long as the prospectus delivery requirements of the Securities Act apply to sales by such Holder, such Holder's failure to comply with the prospectus delivery requirements of the Securities Act or (y) any untrue statement of a material fact contained in any Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto, or arising solely out of or based solely upon any omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent that, (1) such untrue statements or omissions are

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based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such information relates to such Holder or such Holder's proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for this purpose) or (2) in the case of an occurrence of an event of the type specified in Section 3(c)(ii)-(v), the use by such Holder of an outdated or defective Prospectus after the Company has validly notified such Holder in writing (in accordance with Section 7(h) below) that the Prospectus is outdated or defective and prior to the receipt by such Holder of an Advice or an amended or supplemented Prospectus, but only if and to the extent that following the receipt of the Advice or the amended or supplemented Prospectus the misstatement or omission giving rise to such Loss would have been corrected. In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

(c) Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an "Indemnified Party"), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the "Indemnifying Party") in writing, and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection with defense thereof; provided, that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that such failure shall have proximately and materially adversely prejudiced the Indemnifying Party.

 

An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified Party shall have been advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense thereof and such counsel shall be at the expense of the Indemnifying Party); provided, that the Indemnifying Party shall not be liable for the fees and expenses of more than one separate firm of attorneys at any time for all Indemnified Parties pursuant to this Section 6(c). The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom.

All fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to the Indemnified Party, as incurred, within ten (10) Trading Days of written notice thereof to the Indemnifying Party (regardless of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnifying Party may require such Indemnified Party to undertake to reimburse all such fees and expenses to the extent it is finally judicially determined that such Indemnified Party is not entitled to indemnification hereunder).

(d) Contribution. If a claim for indemnification under Section 6(a) or 6(b) is unavailable to an Indemnified Party (by reason of public policy or otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified

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Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in Section 6(c), any reasonable attorneys' or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms.

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 6(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 6(d), no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the proceeds actually received by such Holder from the sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

The indemnity and contribution agreements contained in this Section 6 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties and are not in diminution or limitation of the indemnification provisions under the Subscription Agreement.

7. Miscellaneous.

(a) Remedies. In the event of a breach by the Company or by a Holder, of any of their obligations under this Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agree that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate.

(b) Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement.

(c) Subsequent Registration Rights. Until the Registration Statement required hereunder is declared effective by the Commission, the Company shall not enter into any agreement granting any registration rights with respect to any of its securities to any Person without the written consent of Holders representing no less than a majority of the then outstanding Registrable Securities.

(d) Discontinued Disposition. Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence of any event of the kind described in Section 3(c), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration Statement until such Holder's receipt of the copies of the supplemented Prospectus and/or amended Registration Statement or until it is advised in writing (the "Advice") by the Company that the use of the applicable Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce the provisions of this paragraph.

(e) Furnishing of Information. Each Holder shall furnish in writing to the Company such information regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it, as shall be reasonably requested by the Company to effect the registration of such Registrable

9

Securities and shall execute such documents in connection with such registration as the Company may reasonably request.

(f) Piggy-Back Registrations. If at any time during the Effectiveness Period, except as contemplated by Section 2(b) hereof, there is not an effective Registration Statement covering all of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with the stock option or other employee benefit plans, then the Company shall send to each Holder (other than the holders of the Merger Shares) a written notice of such determination and, if within fifteen (15) days after the date of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities (other than the Merger Shares) such Holder requests to be registered; provided, however, that the Company shall not be required to register any Registrable Securities pursuant to this Section 7(f) that are eligible for resale pursuant to Rule 144 promulgated under the Securities Act without volume limitation or that are the subject of a then effective Registration Statement. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 7(f) prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration.

(g) No Piggyback on Registrations. Neither the Company nor any of its security holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company in a Registration Statement other than the Registrable Securities, and the Company shall not prior to any Effectiveness Date enter into any agreement providing any such right to any of its security holders. Nothing in this Section 7(g) shall limit the Company's ability to include securities of the Company other than the Registrable Securities in a registration statement that is not a Registration Statement and file any such registration statement with the Commission, except as is expressly prohibited by this Agreement.

(h) Amendments and Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed by the Company and the Holder or Holders (as applicable) of no less than a majority of the then outstanding Registrable Securities. The Company shall provide prior notice to all Holders of any proposed waiver or amendment. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right.

(i) Termination of Registration Rights. For the avoidance of doubt, it is expressly agreed and understood that (i) in the event that there are no Registrable Securities outstanding, then the Company shall have no obligation thereafter to file, caused to be declared effective or to keep effective any Registration Statement hereunder (including any Registration Statement previously filed pursuant to this Agreement) and (ii) all registration rights granted to the Holders hereunder (including the rights set forth in Sections 7(c) and 7(f)), shall terminate in their entirety effective on the first date on which there shall cease to be any Registrable Securities outstanding. If not previously terminated pursuant to the foregoing sentence, it is expressly agreed and understood that all registration rights granted to the Holder pursuant to this Agreement shall terminate as to the Holder on the earlier of (a) such time following the date that is six (6) years following the date of this Agreement that the Holders own in the aggregate less than twenty-five percent (25%) of the number of Registrable Securities that the Holders owned in the aggregate as of the date hereof (as adjusted for stock splits, combinations, dividends, recapitalizations and the like) and (b) the date that is ten (10) years following the date of this Agreement.

(j) Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be sent by confirmed facsimile or electronic mail, or mailed by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, and shall be deemed given when so sent in the case of facsimile or electronic mail transmission, or when so received in the case of mail or courier, and addressed as follows:

 

10

if to the Company, to:

626 East 1820 North

Orem, Utah 84097

Attention: Bob Bench

with a copy (which shall not constitute notice) to:

Carman Lehnhof Israelsen, LLP

299 South Main Street, Suite 1300

Salt Lake City, Utah 84111

Attention: J. Martin Tate

Email: mtate@clilaw.com

 

	 	 	 
	
If to a Purchaser:

	
  

	
To the address set forth under such Purchaser's name on the signature pages hereto

 

	
If to any other Person who is then the registered Holder:

	
  

	
To the address of such Holder as it appears in the stock transfer books of the Company

(k) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties and shall inure to the benefit of each Holder. Each Holder may assign its respective rights hereunder in the manner and to the Persons as permitted under the Subscription Agreement.

(l) Execution and Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were the original thereof.

(m) Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware , without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of Salt Lake City, Utah. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of Salt Lake City, Utah for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the

address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

(n) Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any remedies provided by law.

(o) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

11

(p) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

(q) Independent Nature of Purchasers' Obligations and Rights. The obligations of each Purchaser hereunder are several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser hereunder. The decision of each Purchaser to purchase Securities pursuant to the Transaction Documents has been made independently of any other Purchaser. Nothing contained herein or in any other agreement or document delivered at any closing, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in the Securities or enforcing its rights under the Transaction Documents. Each Purchaser shall be entitled to protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose.

 

12

IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first written above.

 

	 	 	 
	
NABUFIT GLOBAL, INC.

	 	 
	
By:

	
 

	

 

 

	
Name:

	
 

	
Brian Mertz

	
Title:

	
 

	
Chief Executive Officer

13

  

[Signature Page to Registration Rights Agreement]

 

	 	 	 	 	 	 	 
	
PURCHASER (individual)

	
 

	 	
 

	
PURCHASER (entity)

	 	 	 
	

 

 

	
 

	 	
 

	

 

 

	
Signature

	
 

	 	
 

	
Name of Entity

	 	 	 
	

 

 

	
 

	 	
 

	

 

 

	
Print Name

	
 

	 	
 

	
Signature

	 	 	 	 
	

 

 

	
 

	 	
 

	
Print Name:

	
 

	

 

 

	
Signature (if Joint Tenants or Tenants in Common)

	
 

	 	
 

	
Title:

	
 

	

 

 

	 	 	 
	
Address of Principal Residence:

	
 

	 	
 

	
Address of Executive Offices:

	

 

 

	
 

	 	
 

	

 

 

	

 

 

	
 

	 	
 

	

 

 

	

 

 

	
 

	 	
 

	

 

 

 

 

 

 

14

[Signature Page to Registration Rights Agreement]

 

ANNEX A

PLAN OF DISTRIBUTION

The selling stockholders and any of their pledgees, donees, transferees, assignees or other successors-in-interest may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of common stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. The selling stockholders may use one or more of the following methods when disposing of the shares or interests therein:

 

	
 

	
•

	
 

	
ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

	
 

	
•

	
 

	
block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;

 

	
 

	
•

	
 

	
through brokers, dealers or underwriters that may act solely as agents;

 

	
 

	
•

	
 

	
purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

	
 

	
•

	
 

	
an exchange distribution in accordance with the rules of the applicable exchange;

 

	
 

	
•

	
 

	
privately negotiated transactions;

 

	
 

	
•

	
 

	
through the writing or settlement of options or other hedging transactions entered into after the effective date of the registration statement of which this prospectus is a part, whether through an options exchange or otherwise;

 

	
 

	
•

	
 

	
broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per share;

 

	
 

	
•

	
 

	
a combination of any such methods of disposition; and

 

	
 

	
•

	
 

	
any other method permitted pursuant to applicable law.

The selling stockholders may also sell shares under Rule 144 under the Securities Act of 1933, as amended, or Securities Act, if available, rather than under this prospectus.

Broker-dealers engaged by the selling stockholders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. The selling stockholders do not expect these commissions and discounts to exceed what is customary in the types of transactions involved.

The selling stockholders may from time to time pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell shares of common stock from time to time under this prospectus, or under a supplement or amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus.

Upon being notified in writing by a selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of common stock through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, we will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (i) the name of each such selling stockholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the price at which such shares of common stock were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated by reference in this prospectus, and (vi) other facts material to the transaction. In addition, upon being notified in writing by a selling stockholder that a donee or pledge intends to sell more than 500 shares of common stock, we will file a supplement to this prospectus if then required in accordance with applicable securities law.

 

15

The selling stockholders also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.

In connection with the sale of the shares of common stock or interests in shares of common stock, the selling stockholders may enter into hedging transactions after the effective date of the registration statement of which this prospectus is a part with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions they assume. The selling stockholders may also sell shares of common stock short after the effective date of the registration statement of which this prospectus is a part and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions after the effective date of the registration statement of which this prospectus is a part with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The selling stockholders and any broker-dealers or agents that are involved in selling the shares may be deemed to be "underwriters" within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act and the rules of the Financial Industry Regulatory Authority (FINRA).

We have advised the selling stockholders that they are required to comply with Regulation M promulgated under the Securities and Exchange Act during such time as they may be engaged in a distribution of the shares. The foregoing may affect the marketability of the common stock.

The aggregate proceeds to the selling securityholders from the sale of the common stock offered by them will be the purchase price of the common stock less discounts or commissions, if any. Each of the selling securityholders reserves the right to accept and, together with their agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents. We will not receive any of the proceeds from this offering.

We are required to pay all fees and expenses incident to the registration of the shares. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act or otherwise.

We have agreed with the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective until the earlier of (a) the date that is two years from the date it is declared effective by the Commission and (b) the date on which all securities under such Registration Statement have ceased to be Registrable Securities.

16Exhibit 10.1

 

Delivery Date: December 23, 2016

 

 

SEPARATION AGREEMENT AND RELEASE

 

This Separation Agreement and Release (the
“Agreement”) is entered into by and between United Community Bancorp, an Indiana corporation its affiliates,
subsidiaries, and divisions, including United Community Bank (collectively referred to herein as the “Company”), and
Vicki A. March (the “Employee”). The Employee enters into this Agreement on behalf of the Employee, the Employee’s
spouse, heirs, successors, assigns, executors, and representatives of any kind, if any.

 

WHEREAS, the
Employee’s employment with the Company will end effective January 3, 2017 (“Separation Date”).

 

WHEREAS, the
Company will provide the Employee with a lump sum payment in exchange for the release of any claims that the Employee may have
against the Company, including any claims concerning the Employee’s employment with the Company or the Employee’s termination
of employment, and the other promises contained in this Agreement.

 

WHEREAS, the
Employee accepts the cash consideration offered hereby in return for the Employee signing a full release of any claims the Employee
might have against the Company, including any claims concerning the Employee’s employment, Employee’s separation from
service with the Company , and any claims for any benefits pursuant to that employment, and in return for the other promises contained
in this Agreement.

 

WHEREAS, the
Employee and the Company enter into this Agreement for the purpose of concluding and resolving all matters relating to the Employee’s
employment with the Company, the terms and conditions of that employment, and the termination of that employment.

 

NOW, THEREFORE,
in consideration of the mutual promises and commitments made herein, and intending to be legally bound hereby, the Employee and
the Company agree as follows:

 

		1.	Separation from Service.

 

		(a)	The Employee’s employment with the Company will end on the Separation Date. Except as the
Company and the Employee may mutually agree, after the Separation Date, it will not be necessary for the Employee to appear at
the Company’s offices, and the Employee will not attempt to appear at the Company’s offices after that date. The Employee
shall have no right to re-employment with the Company after the Separation Date.

 

		(b)	As of the Separation Date, the Employment Agreement by and between the Employee and United Community
Bank originally entered into effective July 1, 2005, amended and restated in its entirety effective December 30, 2008 and subsequently
amended and restated in its entirety effective July 1, 2014 (“Bank Employment Agreement”) and the Employment Agreement
by and between the Employee and United Community Bancorp originally entered into effective July 1, 2005, amended and restated in
its entirety effective December 30, 2008 and subsequently amended and restated in its entirety effective July 1, 2014 (“Bancorp
Employment Agreement”) shall terminate. The Employee shall have no rights to benefits or payments under the Bank Employment
Agreement and Bancorp Employment Agreement after the Separation Date.

 

     

     

    

 

Delivery Date: December 23, 2016

 

		2.	No Admission. Neither the Company’s signing of this Agreement nor any actions taken
by the Company toward compliance with the terms of this Agreement constitute an admission by the Company that it has acted improperly
or unlawfully with regard to the Employee or that it has violated any federal, state, or local law.

 

		3.	Consideration. In exchange for your executing this Agreement and abiding by its terms, the
Company will pay you a lump sum equal to $196,000.00, less legally required withholdings. Once the Agreement becomes effective,
as provided in Section 17 of this Agreement, the payment in this Section 3 will be made in the Company’s January 13, 2017
payroll period. If this Agreement does not become effective in accordance with Section 17, the Executive is entitled to no payment
under this Agreement.

 

		4.	General Releases. The Employee releases and forever discharges the Company, its past, present,
and future employees, directors, officers, agents, shareholders, insurers, attorneys, executors, successors, assigns, and other
representatives of any kind in their capacities as such (referred to in this Agreement collectively as “Released Parties”)
from any and all claims, charges, demands, liabilities, or causes of action of any kind, known or unknown, arising through the
date the Employee executes this Agreement, including, but not limited to, any claims, liabilities, or causes of action of any kind
arising in connection with the Employee’s employment, termination of employment with the Company, the Bank Employment Agreement
or the Bancorp Employment Agreement. The Employee also releases and waives any claim or right to further compensation, benefits,
damages, penalties, attorneys’ fees, costs, or expenses of any kind from the Company or any of the other Released Parties,
except that nothing in this release shall affect any rights the Employee may have under: (i) this Agreement; (ii) any funded retirement
or 401(k) plan of the Company; (iii) any equity awards which will be treated in accordance with the terms of the Company’s
equity plans and related agreements; or (iv) to COBRA health insurance benefits that are determined as described above. Without
limitation, the Employee waives any right or claim to reinstatement of the Employee’s employment with the Company. The claims
that the Employee is releasing include, but are not limited to: claims for wrongful discharge; constructive discharge; breach of
contract; tortious interference with contract; unlawful terms and conditions of employment; retaliation; defamation; invasion of
privacy; claims for unlawful conspiracy; discrimination, including any discrimination claim arising under the Age Discrimination
In Employment Act of 1967, as amended, 29 U.S.C. §621 et seq. (“ADEA”); Title VII of the Civil Rights Act of 1964,
as amended, 29 U.S.C. §2000e et seq.; the Federal Rehabilitation Act of 1973, as amended, 29 U.S.C. §701 et seq.; the
Americans with Disabilities Act of 1990, as amended, 42 U.S.C. §12101 et seq.; the Family and Medical Leave Act of 1993, 29
U.S.C. §2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. §201 et seq.; the Equal Pay Act of
1963, as amended, 29 U.S.C. §206(d) et seq.; the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §301
et seq.; the Worker Adjustment and Retraining Notification Act, 29 U.S.C. §2101 et seq.; the Indiana Civil Rights Law, as
amended, Ind. Code Ann. § 22-9-1-1 et seq.; any other federal, state, or local constitutional provision, statute, executive
order, or ordinance relating to employment, or other civil rights violations; and any other claims whether based on contract or
tort.

 

    	 	- 2 -	 

     

    

 

Delivery Date: December 23, 2016

 

		5.	No Other Proceedings. The Employee represents that the Employee will not file or join in
any action, charge, claim, complaint, lawsuit, or proceeding of any kind against the Company or any of the other Released Parties
(other than pursuing a claim for unemployment compensation benefits to which the Employee may be entitled) with respect to any
claim that is released in this Agreement, including any matter arising out of or in connection with the Employee’s employment
with the Company, termination of that employment, the Bank Employment Agreement or the Bancorp Employment Agreement. Should the
Employee file or join in any action, claim, complaint, lawsuit, or proceeding of any kind against the Company or any of the other
Released Parties, based on any claim that the Employee has released, or should such an action, claim, complaint, lawsuit, or proceeding
be filed on the Employee’s behalf, the Employee agrees to withdraw, dismiss, or cause to be withdrawn or dismissed, with
prejudice, any such action, claim, complaint, lawsuit, or proceeding of any kind that is pending in any federal, state, or local
agency or court.  If the Employee breaks this promise and files or joins in any action, claim, complaint, lawsuit, or proceeding
based on any claim that the Employee has released, then the Employee will pay for all costs the Company or any of the other Released
Parties incurs in defending against the Employee’s claim, including reasonable attorneys’ fees.

 

For the avoidance of doubt, this
Agreement does not affect or limit any claims that, under controlling law, may not be released by private agreement, including,
without limitation, (a) any claims under Workers’ Compensation laws; or (b) the right to file a charge with the Equal Employment
Opportunity Commission or similar state or local agency, or with the National Labor Relations Board, or to provide information
to or assist such agency in any proceeding, provided, however, that the Employee agrees that by signing this Agreement, the Employee
relinquishes any right to receive any personal monetary relief or personal equitable relief with respect to any claim filed by
the Employee or on the Employee’s behalf in any such proceeding. Additionally, nothing in this Agreement shall limit or restrict
the Employee’s right under the ADEA to challenge the validity of this Agreement in a court of law. The Employee further understands
that, under the law, the obligations to repay money received and to pay the Company's damages and costs in the event that the Employee
breaches the Employee’s promise not to file a suit over released claims do not apply to claims under the ADEA. Therefore
the financial obligations and costs, damages, or attorney’s fees identified in this Section would not apply to a suit filed
solely under the ADEA, but the Employee nevertheless understands that the waivers and releases under Section 4 still apply to ADEA
claims and that the Employee has waived all ADEA  claims as part of this Agreement and that in any suit brought under the
ADEA, the Employee would not be entitled to any damages or other relief unless this Agreement and the waivers contained in it were
deemed to be unlawful or otherwise invalid.

 

		6.	No Sale of Claim. The Employee represents that the Employee has not given or sold any portion
of any claim discussed in this Agreement to anyone else.

  

    	 	- 3 -	 

     

    

 

Delivery Date: December 23, 2016

 

		7.	Confidential Information; Return of Property.

 

		(a)	The Employee acknowledges that during the course of the Employee’s employment with the Company,
the Employee has been entrusted with certain personnel, legal, business, financial, technical, and other proprietary information
and materials that are the property of the Company and that involve confidential information concerning, among other things, the
Company’s dealings, the Company’s customers, vendors, employees, agents, and patrons. The protection of confidential
business information is vital to the interests and success of the Company. Therefore, the Employee agrees and promises that the
Employee will not communicate or disclose to any third party, or use for the Employee’s own benefit, without the prior written
consent of the Company, any of the above-mentioned information or material, except as required by law, unless and until such information
or material becomes generally available to the public through no fault of the Employee. In the event the disclosure of such information
is required by law, the Employee agrees that the Employee will give immediate written notice to the Company as to enable it to
seek an appropriate protective order.

 

		(b)	The Employee represents that the Employee has returned or will return no later than five (5) days
after the Separation Date, to the Company the originals and all copies of any business records or documents of any kind belonging
to, or related to, the Company that are or were subject to the Employee’s access, custody, or control, regardless of the
sources from which such records were obtained, together with all notes and summaries relating thereto. Additionally, the Employee
represents that the Employee has returned to the Company all keys, security cards, passwords, and other means of access to the
Company’s offices and other facilities.

 

		(c)	The Employee shall also immediately return to the Company any and all computer hardware, equipment,
and software belonging to the Company, including any and all program and/or data disks, manuals, and all hard copies of Company
information and data, and shall disclose to the Company any and all passwords utilized by the Employee with regard to the Company’s
computer hardware and software so that the Company has immediate, full, and complete access to all of the Company’s data
and information stored, used, and maintained by the Employee, or to which the Employee had access.

 

		(d)	The Employee shall also immediately return to the Company any other property of the Company except
as provided in this Agreement.

 

		(e)	The Employee acknowledges that the Employee’s obligations under this Agreement are in addition
to those obligations the Employee has under applicable law in respect of trade secrets and other legally protected information
and those arising under the Employee’s duty of loyalty owed to the Company.

 

		(f)	This Section does not preclude the Employee from using information in the public domain, or from
using the Employee’s personal knowledge and experience acquired both prior to and during the Employee’s employment
with the Company, in any future employment situation, except as the Employee’s use of such information is limited by Section
7(e) above.

 

    	 	- 4 -	 

     

    

 

Delivery Date: December 23, 2016

 

		8.	Confidentiality of this Agreement. The Employee agrees to keep the terms and the fact of
this Agreement completely confidential, except as required by law, and except that the Employee may share the information with
the Employee’s spouse, attorney, or tax advisor, who also will be informed of and be bound by this confidentiality provision,
and except that the Employee shall inform (and the Company may inform) any future employer of the terms of the confidentiality
promises and obligations contained in this Agreement. If the disclosure of the terms or fact of this Agreement is required by law,
then the Employee will give immediate written notice to the Company as to enable it to seek an appropriate protective order.

 

		9.	Non-Competition and Non-Solicitation.

 

		(a)	The Employee acknowledges and recognizes the highly competitive nature of the businesses of the
Company and its affiliates and accordingly agrees that for a period of 12 months following the Separation Date (the “Restricted
Period”), the Employee will not, whether on the Employee’s own behalf or on behalf of or in conjunction with any person,
firm, partnership, joint venture, association, corporation or other business organization, entity or enterprise whatsoever (“Person”),
directly or indirectly engage in any business that directly or indirectly competes in any material way with the primary business
of the Company in any city in which the Company has a branch or administrative office.

 

		(b)	During the Restricted Period, the Employee will not, whether on the Employee’s own behalf
or on behalf of or in conjunction with any Person, directly or indirectly.

 

		(i)	solicit or encourage any employee of the Company or its affiliates to leave the employment of the
Company or its affiliates; or

 

		(ii)	hire any such employee who was employed by the Company or its affiliates as of the date of the
Employee’s termination of employment with the Company or who left the employment of the Company or its affiliates coincident
with, or within one year prior to or after, the termination of the Employee’s employment with the Company.

 

The
Employee has carefully read this Section 9 and having done so agrees that the geographical and durational restrictions set forth
herein are fair and reasonable and are necessary for the protection of the legitimate business interests of the Company.

 

		10.	No Disparaging Remarks. The Employee agrees not to make any negative, disparaging, denigrating,
or derogatory remarks, either orally or in writing and whether true or not, about any of the Released Parties, or their business
operations, policies, or practices, including, but not limited to, employment practices. The Employee represents and promises in
this regard that the Employee shall not communicate, either directly or indirectly, with any media any negative, disparaging, denigrating,
or derogatory remarks regarding any aspect of the Company’s business or regarding any non-public information about the Company
or its owners, directors, employees, customers, vendors, or patrons. Negative, disparaging, denigrating, or derogatory remarks
as used in this Section shall include, but not be limited to, any statements that may reasonably be considered to be detrimental
to any of the Released Parties or to their business operations or to their business, professional, or personal reputations.

 

    	 	- 5 -	 

     

    

 

Delivery Date: December 23, 2016

 

		11.	Cooperation. The Employee agrees to reasonably cooperate with the Company and its financial
and legal advisors when and as the Company requests in connection with any claims, investigations, or other proceedings involving
the Company with respect to matters occurring while the Employee was employed by the Company. The Employee shall receive no additional
compensation for rendering such services pursuant to this Section.

 

		12.	Venue and Jurisdiction. The exclusive venue and jurisdiction for any litigation concerning
this Agreement shall be the Circuit Court in Dearborn County, Indiana.

 

		13.	Enforcement. If any court of competent jurisdiction determines that the Employee or the
Company has violated any of the Employee’s or its promises or obligations contained in this Agreement, then the injured party
shall be entitled to recover, in addition to its damages, all costs and expenses incurred in its enforcement efforts, including
actual attorneys’ fees, from the violating party. In addition, the parties acknowledge and agree that a breach by a party
of any of its promises or obligations contained in this Agreement shall cause the other party irreparable harm and that the other
party and its affiliates shall be entitled to injunctive relief or any other equitable remedy, in addition to damages, for any
such breach.

 

		14.	Taxes. The Employee recognizes that the payments and benefits provided under this Agreement
will result in taxable income to the Employee that the Company will report to appropriate taxing authorities. The Company shall
have the right to deduct from any payment made under this Agreement any federal, state, local, or other income, employment, or
other taxes it determines are required by law to be withheld with respect to such payments and benefits.

 

		15.	Consultation with Counsel. THE EMPLOYEE ACKNOWLEDGES THAT THE EMPLOYEE HAS BEEN ADVISED,
IN THIS WRITING, TO CONSULT WITH AN ATTORNEY OF THE EMPLOYEE’S CHOICE PRIOR TO SIGNING THIS AGREEMENT AND THAT THE EMPLOYEE
HAS SIGNED THIS AGREEMENT KNOWINGLY, VOLUNTARILY, AND FREELY, AND WITH SUCH COUNSEL (IF ANY) AS THE EMPLOYEE DEEMED APPROPRIATE.
The Employee understands, however, that whether or not to consult with an attorney is the Employee’s decision. The Employee
agrees that the Company shall not be required to pay any of the Employee’s attorneys’ fees in this or any related matter
or lawsuit, now or later, and that the amount payable under Section 3 is in full and complete payment of all matters between the
Employee and the Company, including, without limitation, attorneys’ fees and costs.

 

    	 	- 6 -	 

     

    

 

Delivery Date: December 23, 2016

 

		16.	Period for Considering Company’s Offer / Right to Revoke Agreement. THE EMPLOYEE ACKNOWLEDGES
THAT THE EMPLOYEE HAS BEEN PROVIDED WITH A PERIOD OF TWENTY-ONE (21) DAYS IN WHICH TO CONSIDER WHETHER OR NOT TO ENTER INTO THIS
AGREEMENT. THE EMPLOYEE ALSO ACKNOWLEDGES THAT THE EMPLOYEE HAS BEEN FURNISHED WITH THE REQUIRED DISCLOSURE LIST OF JOB TITLES
AND AGES OF ELIGIBLE EMPLOYEES AFFECTED BY THE TERMINATION OF EMPLOYMENT AND THOSE NOT SO AFFECTED. THE EMPLOYEE FURTHER ACKNOWLEDGES
THAT THE EMPLOYEE HAS BEEN ADVISED OF THE EMPLOYEE’S RIGHT TO REVOKE THIS AGREEMENT DURING THE SEVEN (7)-DAY PERIOD FOLLOWING
EXECUTION OF THIS AGREEMENT. TO REVOKE, THE EMPLOYEE MUST GIVE THE COMPANY WRITTEN NOTICE OF THE EMPLOYEE’S REVOCATION WITHIN
THE SEVEN (7)-DAY REVOCATION PERIOD.

 

		17.	Effective Date of Agreement. This Agreement becomes effective on the eighth (8th) day after
the Employee signs and returns it to the Company, provided the Employee has not revoked this Agreement pursuant to Section 16.
After the Employee signs and dates the Agreement, the Employee must return the Agreement to the Company representative noted in
Section 20 below.

 

		18.	No Reliance. The parties acknowledge that they execute this Agreement in reliance on their
own personal knowledge, and are not relying on any representation or promise made by any other party that is not contained in this
Agreement.

 

		19.	Entire Agreement. This Agreement and the Policy contain the entire agreement between the
parties concerning the subject matter of this Agreement, and this Agreement supersedes all prior negotiations, agreements, or understandings
between the parties, except that any obligations of the Employee to the Company, under any agreement, policy, or other document
in force on the Separation Date, that by their terms apply after the termination of her employment shall survive the execution
of this Agreement and continue in full force and effect. No promises or oral or written statements have been made to the Employee
other than those in this Agreement. If any portion of this Agreement is found to be unenforceable, all other portions that can
be separated from it, or appropriately limited in scope, shall remain fully valid and enforceable.

 

		20.	Notice. Any notice to be given under this Agreement shall be in writing and delivered personally,
sent by a nationally recognized courier service or sent by registered or certified mail, postage prepaid, return receipt requested,
addressed to the party concerned at the address indicated below or to such other address as such party may subsequently give written
notice of under this Agreement:

 

If to Employee, to:

 

Vicki A. March

9175 Holmes Hill Road

Aurora, IN 47001

 

If to the Company,
to:

 

Elmer G. McLaughlin

President and Chief
Executive Officer

United Community Bancorp

92 Walnut Street

Lawrenceburg, IN 47025

 

Any party may serve process in
any matter relating to this Agreement in the same manner.

 

    	 	- 7 -	 

     

    

 

Delivery Date: December 23, 2016

 

		21.	Governing Law. This Agreement shall be governed by the substantive laws of the State of
Indiana without regard to conflicts of law principles.

 

		22.	Headings. All descriptive headings of sections in this Agreement are intended solely for
convenience, and no provision of this Agreement is to be construed by reference to any such heading.

 

		23.	Inducement. To induce the Company to provide the Employee the consideration recited in this
Agreement, the Employee voluntarily executes this Agreement, acknowledges that the only consideration for executing this Agreement
is that recited in this Agreement, and that no other promise, inducement, threat, agreement, or understanding of any kind has been
made by anyone to cause the Employee to execute this Agreement. The Employee acknowledges that the payment provided in this Agreement
is given to the Employee in exchange for executing this Agreement and abiding by its terms. The Employee further acknowledges that
the payment provided in Section 3 of this Agreement is not required by the Company’s policies and procedures and constitutes
value to which the Executive is not already entitled.

 

THE EMPLOYEE UNDERSTANDS THIS AGREEMENT
CONTAINS A FINAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AND THAT THE EMPLOYEE CAN MAKE NO FURTHER CLAIM OF ANY KIND AGAINST THE
COMPANY OR ANY OF THE OTHER RELEASED PARTIES ARISING OUT OF ACTIONS OCCURRING THROUGH THE DATE THE EMPLOYEE EXECUTES THIS AGREEMENT. 

 

THE EMPLOYEE AGREES THAT THE EMPLOYEE
READ AND UNDERSTANDS THIS AGREEMENT, AND IS ENTERING INTO THIS AGREEMENT KNOWINGLY AND VOLUNTARILY AND WITHOUT ANY COERCION. 

 

	/s/ Vicki A. March	 	Date: December 23, 2016
	Vicki A. March	 	 
	 	 	 
	 	 	 
	UNITED COMMUNITY BANCORP	 	 
	 	 	 
	By:	 /s/ Elmer G. McLaughlin	 	Date: December 23, 2016
	Title:	 President and Chief Executive Officer	 	 
	 	 	 
	 	 	 
	UNITED COMMUNITY BANK	 	 
	 	 	 
	By:	 /s/ Elmer G. McLaughlin	 	Date: December 23, 2016
	Title:	 President and Chief Executive Officer	 	 

 

 

    	 	- 8 -

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