Document:

exv10w22

 

EXHIBIT
10.22

	 	 	 	 	 
	

	 	 	 	CHECK 21 EXCHANGE SERVICES AGREEMENT

	 	 	 
	OFFICE ADDRESS:

	 	 
	JACK HENRY & ASSOCIATES, INC.
	 	 
	663 HIGHWAY 60 • P. O. BOX 807
	 	 
	MONETT, MO 65708
	 	 

NAME AND ADDRESS OF CLIENT:

Reliance Bank

11781 Manchester Ave

Des Peres, MO 63131

DATE: January 31, 2006

Jack Henry & Associates, Inc (“JHA”) in association with certain
third party business partners is engaged in the business of providing image
exchange and settlement services in accordance with The Check Clearing for
the 21st Century Act throughout its trade area and Client specified above
is desirous of securing such services from JHA.

In consideration of the premises and in further consideration of the
performance of the terms and provisions herein, JHA and Client contract and
agree as follows:

The Client granted hereby shall be subject to all Standard Terms and
Conditions (Sections 1 to 23) set forth on pages 2 through 8 hereof and
Exhibit A, all of which are incorporated in and specifically made a part of
this Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and effective as of the date first above written.

	 	 	 	 	 	 	 
	JHA:	 	CLIENT:
	JACK HENRY & ASSOCIATES INC.	 	Reliance Bank

	 
	 	 	 	 	 	 
	By:

	 	Terry McMullen
	 	By:
	 	Dale E. Oberkfell
	 

	 	 
	 	 	 	 
	Print/Type
Name
 Terry McMullen 
	 	Print/Type Name Dale E. Oberkfell
	Title:

	 	General Manager	 	Title:
	 	 President
	Date: 2/15/2006	 	Date: 2/8/06

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STANDARD TERMS AND CONDITIONS

(Check 21 Exchange Services Agreement)

1. Definitions.

	 	 	In addition to other terms defined elsewhere in this Agreement, the following terms shall
have the following meanings when used in this Agreement, unless the context clearly requires
otherwise:

	 	a)	 	“Products”: mean the Processing Services, computer software programs,
Documentation, JHA-supported files and databases utilized by JHA, Additional Products
(as defined below), and any modifications, revisions, enhancements, or updates to any
of the foregoing.
	 
	 	b)	 	“Documentation”: means the documentation for JHA Processing Services provided to
Client, as amended from time-to-time.
	 
	 	c)	 	“Check 21”: Check Truncation Act for the 21st Century. This is the
legislation signed into law on October 29, 2003 that defines a Substitute Check (SC) as
legal tender in place of an original check.
	 
	 	d)	 	“CheckClear LLC”: Parent company that has developed the Endpoint Exchange clearing
network and related products.
	 
	 	e)	 	Endpoint Exchange (EE): Product name for software and clearing network created by
CheckClear LLC. EE provides the software and services that enable the clearing of
images through NCHA, along with settlement services.
	 
	 	f)	 	NCHA: The National Clearinghouse Association. A nationwide check clearinghouse that
was organized to effect, assist, promote, supervise and regulate the daily and other
exchanges and settlements among its members of checks and other items.
	 
	 	g)	 	NCHA Member: A national member of NCHA operating under the National Rules as
published by NCHA.
	 
	 	h)	 	National Consolidator: A National
Consolidator is a member of NCHA that has elected to form a mini-clearing house within
NCHA
	 
	 	i)	 	Image Clearing: The practice of
exchanging files containing check images between financial institutions for settling
funds in place of actually exchanging paper checks between financial institutions for
settling funds.
	 
	 	j)	 	Deposited Item: Individual check images deposited into a financial institution that
is sent to EE for image clearing.
	 
	 	k)	 	Inclearings: Those items presented to NCHA for settlement, either through a member
or National Consolidator that are drawn on another member of NCHA. Items would be
considered “inclearings” to the “drawn-on” member.
	 
	 	I)	 	Substitute Check or Legally Equivalent Substitute Check: This is an item that was
converted into an image, but had to be reconverted back into a piece of paper.
	 
	 	m)	 	In District: Location of origin of a deposited item. An item is considered “In
District” if it was originated within the same Federal Reserve District as the institution
in which it was deposited.
	 
	 	n)	 	Out of District: Location of origin of a deposited item. An item is considered “Out of
District” if it was originated within a different Federal Reserve District than the
institution in which it was deposited.
	 
	 	o)	 	 On-We: A designation for items drawn on any institution within that particular National
Consolidator’s membership.
	 
	 	p)	 	Check 21 Exchange: A mini-clearing house established within NCHA by Jack Henry. As a
mini-clearinghouse, items are settled and exchanged within a separate server and software
application prior to being forwarded to NCHA for settlement.
	 
	 	q)	 	Check 21 Cash Letter: Software module developed by Jack Henry to interface with EE for
Image Clearing through NCHA. The Check 21 Cash Letter (21CL) module would provide
interface and communications between EE, check image software (JHA and non-JHA) and the
JHA core solutions.
	 
	 	r)	 	EPM/SC Module Software: module developed by Jack Henry to provide Exception Processing capabilities with respect to CHECK
21. Types of capabilities would be the creation and printing of SCs and the reconciliation
functions required to process returned items and posting functions between the item
processing software and the core deposit system.

	 
	 
	 	s)	 	“Processing Services”: means the computer data processing services provided by JHA to
Client in accordance with this Agreement and may include terminal driving, electronic
authorization, links to Networks, transaction switching, and other support services
described in Exhibit A attached hereto.

2. Description of Processing Services.

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	 	 	Client hereby contracts for and JHA hereby agrees to furnish, on the terms and
conditions set forth herein, the Processing Services which are enumerated on Exhibit A
attached to and a part of this Agreement.
	 
	 	 	Upon the completed execution of this Agreement Client and JHA shall mutually proceed in
good faith to promptly develop a detailed plan for the conversion of Client to the
Processing Services
	 
	3.	 	Term of Agreement.
	 
	 	 	This Agreement shall have a term of five (5) years with a commencement date of either the
day PROCESSING SERVICES are first provided by JHA to Client, or 240 days after the date of
this Agreement, which ever occurs first. Thereafter this Agreement shall automatically renew
for successive five (5) year terms unless terminated by either party by written notice no
less than one hundred eighty (180) days prior to the expiration of the then current five (5)
year term of this Agreement. JHA reserves the right to increase the above fees at any time.
JHA will provide Client 30 days advance written notice of any fee increase. All increases in
third party fees will be passed through to Client as additions to the Per Transaction Fees
as shown on Exhibit A. JHA further reserves the right to terminate the Services provided to
Customer and its Consumers hereunder if Customer is in breach of this or any other agreement
which Customer has with JHA. In addition, either party may terminate this Agreement by
written notice to the other party should a determination be made by any judicial or
administrative authority that the Processing Services provided pursuant to this Agreement
are illegal.
	 
	 	 	In the event that the Client provides timely notice to JHA as aforesaid of its intention to
terminate this Agreement, this Agreement shall terminate as provided herein. In the event
of such termination, the Client shall pay JHA all direct expenses incurred by JHA in
turning over to the Client all information maintained by JHA and relating to Processing
Services performed by JHA for the Client. These expenses shall include, but shall not be
limited to charges for computer run time and programming requirements in accordance with
JHA published rate schedules in effect at that time. In the event that the Client
discontinues using JHA Processing Services prior to the end of any contract term, the
Client will pay to JHA via ACH payment a lump sum early termination fee to be calculated as
the average monthly billing exclusive of pass through cost including, but not limited to,
data lines, postage, Federal Reserve charges, etc., for the past twelve months multiplied
by the number of months and any portion of a month remaining in the contract term. In the
event that any entity assumes the deposit liabilities of Client, such entity will
automatically assume the obligations and liabilities of Client hereunder for the remaining
contract term.
	 
	 	 	Upon receipt of notice of Client’s intention to deconvert from JHA’s Processing Services the
early termination and expenses listed above shall become immediately due and payable. Under no
circumstances shall Client render payment of these fees later than thirty days after JHA has
billed Client for them. JHA reserves the right to cease providing ALL Processing Services to
Client if any amount due from Client to JHA under this Agreement or any other amount due from
Client to JHA is not paid in a timely fashion. JHA shall have the right to terminate this
Agreement should Client fail to pay any amounts due to JHA hereunder and fail to cure that
default within seven (7) days after written notice. In that event JHA shall treat said
nonpayment as an anticipatory breach and shall be entitled to proceed as though Client had given
JHA proper notice of its intention to discontinue Processing Services as provided for above.
Either party may terminate this Agreement should the other party materially breach any other
obligation under this Agreement and fail to cure that breach within thirty (30) days after
written notice.
	 
	4.	 	File Ownership and Security.

	 	a)	 	File Security. JHA acknowledges that all data files provided by Client are the
property of Client and that JHA’s use thereof or access thereto does not create in JHA any
right, title or interest therein, except as provided for hereunder. JHA will implement
reasonable security precautions and take appropriate actions with respect to the Client
data files so as to enable JHA to satisfy its obligations under this Agreement and to
prevent the loss, alteration or unauthorized access of Client data files.
	 
	 	b)	 	Security and Protection of Products. Client acknowledges that the
Products and Processing Services are the property of JHA and that Client’s use thereof
does not create in Client any right, title, or interest therein, except as provided for
hereunder. Client will implement reasonable security precautions and take appropriate
action so as to enable Client to satisfy its obligations under this Agreement and to
prevent the loss, alteration or unauthorized access of Products or Processing Services.

	5.	 	Examination.
	 
	 	 	The records maintained by JHA for the Client shall be subject to examination by those Federal
or State agencies having jurisdiction over the Client to the same extent that such records
would be subject to examination were they maintained and produced by the Client on its own
premises, and JHA is authorized to provide the representatives of such agencies access to such
records. Reasonable expenses incurred by JHA on the Client’s behalf during the course of

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	 	 	such examination may, at JHA’s sole discretion, be charged to the Client by JHA with itemized
accounting of such expenses.
	 
	6.	 	JHA’s Reliance on Client’s Instructions.
	 
	 	 	In general, JHA will expect to receive any necessary instructions, information or data from
Client. However, it is contemplated that data, information or certain instructions from time to
time may be transmitted directly to JHA by third parties on behalf of Client. JHA agrees to
respond to such data, information and instructions from third parties when it is customary for
such to be provided in that manner. JHA shall be entitled to reasonably rely upon any data,
information or instructions provided hereunder.
	 
	7.	 	Client Duties and Responsibilities.

	 	a)	 	Responsibility fox Client Instructions/Information. Client assumes responsibility for the consequence of any
instructions or other information given to JHA by Client or its employees. Client shall
also be responsible for instructions provided to or by certain third party vendors as
described in Section 7 above.
	 
	 	b)	 	Notice of Discrepancies. Client shall be
responsible for auditing and balancing the
data contained in any reports, and for
reconciling any out-of-balance condition.
Client will notify JHA of any out-of-balance
condition or any other discrepancy
regarding the Processing Services which
Client believes or reasonably should have
believed to be caused by a failure of the
Processing Services by midnight of the
tenth (10th) working day immediately
following the day of the rendering of said
Processing Services. Failure of Client to
notify JHA of any out-of-balance condition
or any other discrepancy regarding the
Processing Services within such time period
waives Client’s right to an adjustment. In
the event that Client fails to notify JHA
within 10 days of any out of balance
condition or any other discrepancy
regarding the Processing Services and Client
desires JHA assist Client in correcting said
out of balance condition or any other
discrepancy regarding the Processing
Services then JHA shall at its sole discretion
provide such assistance at its then current
fee for such services. In the event of the
foregoing JHA shall not assume any liability
for any attempted correction.
	 
	 	c)	 	Third Party Products and Processing Services.

(i) In order to receive the Processing Services under this Agreement Client will be required
to sign an agreement with the NCHA to become an NCHA Member. Client will also be required to
implement on its system a copy of the EE Client (or other successor software. Client agrees to comply with the terms of all applicable NCHA and EE
Client (or its successors) agreements, all applicable rules and regulations, and to pay any
fees imposed by any necessary third party service providers with respect to Client. Client
shall indemnify, defend and hold JHA harmless from any fees, costs, liability or obligation
to the third party service provider arising out of any such agreement or otherwise, unless
JHA has specifically assumed such fees, costs, liabilities or obligations hereunder, and
notwithstanding any provision of any such “processor” or other agreement signed by JHA. It
is understood and agreed that any sponsorship for Client under this Agreement shall be
coterminous with this Agreement; provided, however, that both parties shall comply with any
applicable operating rules and regulations and all applicable laws after any termination of
any sponsorship provided for pursuant to this Agreement.

(ii) Changes to the Processing Services. If any necessary third party service
provider mandates changes to the Processing Services, or changes are required to or because
of the Check 21 law or its interpretation as used for the Processing Services, then this
Agreement shall be amended to incorporate said changes.

	 	d)	 	Cooperation. The obligations of JHA under this Agreement are subject to and
conditioned upon the cooperation and timely performance by Client of its obligations,
including but not limited to compliance by Client with any requirements contained in the
Documentation.
	 
	 	e)	 	Financial Obligations. Client will maintain account(s) within their own
institution or with such financial institutions as may be required for sponsorship and to
maintain such balances as may be required for settlement of transaction activity,
authorized adjustments or any other financial obligations arising under the Processing
Services.
	 
	 	f)	 	Client is responsible for reviewing its monthly billing for Services provided by JHA.
In the event that Client does not report any discrepancy with said billing or challenge any
charges in writing on any bill within ninety days of the bills presentation to Client then
Client shall be deemed to have waived any correction of such non reported and/or non
challenged errors and JHA shall have no further obligations relating to said billing.

8. Payment.

     In accordance with the terms described in

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	 	 	Exhibit A of this Agreement Client agrees to pay upon presentation by JHA of an electronic
funds transfer debit for such amount, the then applicable charges for the Products covered
thereby. Unless specified otherwise, all amounts are due when the Processing Services have been
completed or other Products provided. JHA shall provide an invoice to the Client for review
prior to initiation of the electronic funds transfer debit. Set-up fees and annual fees will be
invoiced and are payable in advance. Amounts outstanding after the due date are subject to an
interest charge to date of payment of the lesser of 18% per annum or the highest legally
allowable rate. In addition to fee increases due to increases in necessary third party services
or other associated transaction fees, JHA may adjust its fees annually, upon at least sixty
(60) days written notice; provided no such increase, except with respect to rates for
professional services, shall exceed 10%. Notwithstanding the foregoing, unless otherwise
specified in Exhibit A, JHA reserves the unrestricted right to charge Client the amount of any
increases in third party telecommunications charges (plus any JHA’s service charge), Network
pass-through fees or other such expenses incurred on behalf of Client by JHA. Additionally JHA
reserves the right to immediately terminate Processing Services under this Agreement and to
terminate this Agreement if any amount due hereunder shall not be paid via ACH within (5) five
days of its original ACH transfer attempt or if any ACH payment due under this Agreement is
reversed without written notice to JHA of said reversal and JHA’s written acceptance of said
reversal.
	 
	9.	 	Changes to Processing Services.
	 
	 	 	JHA reserves the right to modify the Processing Services provided during the term of this
Agreement. In the event of a modification that materially degrades the quality or performance
of the Processing Services to Client, and said degradation has not been corrected by JHA within
ninety (90) days of written notice to JHA of said degradation, Client may cancel the Agreement
within thirty (30) days of the receipt of updated Documentation describing the modification,
without penalty, effective sixty (60) days after receipt by JHA of written notice of
termination from Client.
	 
	10.	 	Disaster Recovery.
	 
	 	 	Upon request, JHA will provide Client access, at JHA, to the non-confidential portions of JHA’s
disaster recovery plan relating to the Services, or will provide a copy thereof at its then
current charges. JHA agrees to release such information (under appropriate confidentiality
agreement) as may be reasonably necessary to allow Client to develop its own disaster recovery
plan to work in concert with the JHA plan.
	 
	11.	 	Insurance.
	 
	 	 	JHA will maintain a Fidelity Bond covering loss of money, securities or other property resulting from one or more fraudulent or dishonest acts for
which JHA is legally liable.
	 
	12.	 	Warranties.
	 
	 	 	Client’s Remedies and Limitation of Liability. JHA and Client acknowledge that circumstances
could arise entitling Client to damages or rescission arising from performance by JHA of its
obligations hereunder or a failure by JHA to perform its obligations and have agreed in all such
circumstances that Client’s remedies and JHA’s liabilities will be limited to those set forth in
this Agreement.
	 
	 	 	Client shall provide JHA with all documentation necessary to prove any claimed loss by Client.
JHA shall not be liable for any loss which is settled or compromised by Client without prior
written consent of JHA. At the request of JHA, Client shall transfer and assign to JHA all rights
and remedies of Client with respect to any claim which is ultimately paid by JHA.
	 
	 	 	The warranties contained herein shall be divided into the following categories:

	 	 	 	Equipment:
	 
	 	 	 	JHA shall use software and current equipment such as is indicated by JHA’s specific needs and
Industry standards. All equipment shall be maintained in a reasonable fashion which shall be
compliant with industry standards. Except for errors caused by a material breach of the
Equipment warranty JHA shall not be liable to Client or to any third party, including, but
not limited to, customers of Client, for errors resulting from defects or malfunctions of the
mechanical or electronic equipment used in performing its Processing Services hereunder.
	 
	 	 	 	Processing:
	 
	 	 	 	JHA warrants to provide the Processing Services under this Agreement in a competent manner
consistent with industry standards. In the event that the Processing Services provided by JHA
shall fail to meet the foregoing standard JHA shall diligently and in good faith attempt to
correct the Processing Services without additional cost to Client. If within a reasonable time
JHA is unable to correct the Processing Services, Client shall be entitled to an equitable
reduction in fees paid to JHA for the defective Processing Services. Client shall not expect
JHA to provide any conforming Processing Services without compensation. The remedies herein in
regard to price reductions are exclusive.

	 	 	JHA shall not be liable for delays or failures in the performance or completion of any of its
obligations under or with respect to this Agreement beyond its reasonable control

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	 	 	including, but not limited to, delays caused in whole or in part by acts of civil or
military authority, riots, epidemics, war, governmental regulations, fire, hurricanes, flood,
insurrection, catastrophes, failures of transportation, communications or power supply,
unavoidable mechanical difficulty with its computer equipment, acts of God, or other causes
beyond its control or due to third parties.
	 
	 	 	JHA shall not be liable or responsible to Client or to any third party, including, but not
limited to, customers of Client, for any consequential, special, indirect, or incidental
damages, even if JHA has been advised of the possibility of such damages. Any liability of JHA
to Client resulting from failure to comply with the terms of this Agreement wherein JHA shall
become legally obligated to pay for damages resulting from any claim arising from this
Agreement shall be limited to the actual damages suffered by Client and under no circumstances
shall the total aggregate liability of JHA under this Agreement exceed the lesser of either
i)the fees paid by Client to JHA during the previous twelve months of this Agreement less the
various expenses and pass through costs defined on Exhibit A; or ii) $10,000.00 during the term
of the Agreement. IN NO EVENT SHALL JHA BE RESPONSIBLE OR LIABLE FOR ANY LOSS OF PROFITS,
INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR INDIRECT DAMAGES OF ANY KIND OR NATURE.
ADDITIONALLY JHA SHALL NOT BE LIABLE FOR THE LEGAL EQUIVALNCE WARRANTY, DUPLICATIVE PRESENTMENT
WARRANTY OR ANY SUBSITUTE CHECK INDEMNITY AS THEY MAY ARISE UNDER CHECK 21. THE FOREGOING
WARRANTIES SET FORTH IN THIS AGREEMENT ARE IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED,
WHETHER OF MERCHANTABILITY, FITNESS OR OTHERWISE.
	 
	 	 	The forgoing warranties set forth in this Agreement are in lieu of all other warranties,
express or implied, whether of merchantability, fitness or otherwise.
	 
	 	 	Client agrees that JHA shall have no duty of indemnity or contribution for a third party claim
arising from the use of the Products or JHA’s performance or non-performance of any Processing
Services hereunder.
	 
	 	 	Client acknowledges and agrees that the damage and liability limitations set forth in this
Section 13 are reasonable in light of all present and reasonably foreseeable events and the
possible amount of actual damages to Client. The limitations set forth in this Section 13 will
survive termination of this Agreement notwithstanding Client election to rescind or otherwise
be discharged from this Agreement.
	 
	13.	 	Third Party Providers and Subcontracting.
	 
	 	 	Customer understands and agrees that JHA will use third party products and services in
connection with providing the Services. Some providers may from time to time have certain
additional terms and service levels which may impact Client JHA shall use its best efforts to
provide Client 30 days prior notice of any changes in third party terms and Client may
terminate this Agreement if any such changes substantially and negatively impact Client. Notice
of any such termination must be given in writing to JHA within 20 days after receipt of the
notice of change in third party terms and such notice shall set forth in detail the negative
impact to Client.
	 
	14.	 	Client’s Liability for Third Party Claims.
	 
	 	 	To the extent that any claim exceeds the limitation of liability stated in Section 13 of this
Agreement Client agrees to defend, indemnify and hold JHA harmless from any claim by a third
party for any damages, including lost profits, direct, incidental, consequential, special,
indirect or punitive damages arising out of or relating to Client’s use of the Products and
Processing Services; provided JHA promptly notifies Client of any such claims and Client is
provided an opportunity to fully participate in the defense or settlement of any such claims.
	 
	15.	 	Infrastructure.
	 
	 	 	In order to receive these Services Client shall be required to utilize software licensed from
JHA which is associated with the Services and Client shall receive the Services via a virtual
private network (VPN) which JHA shall establish for Client under this Agreement.
	 
	16.	 	Merchant Interaction.
	 
	 	 	Client shall have sole and exclusive responsibility for sales and marketing services to
merchants including but not limited to arranging for hardware shipment, delivery, installation,
proposing rollout schedules to JHA for JHA’s approval, ensuring compliance by merchants with
applicable rules and regulations, handling of all adjustments and chargebacks, JHA does not as a
result of this Agreement agree to undertake any direct relationship or privity with any merchant
or third party. In the event that Client requests that JHA interact directly with any such
merchant behind Client to an extent beyond JHA’s provision of the Processing Services hereunder,
Client shall compensate JHA for such interaction on a time and materials basis.
	 
	17.	 	Taxes.
	 
	 	 	Any taxes based upon this Agreement, the Processing Services or Products provided, including but
not limited to sales, use and personal property taxes, shall be paid by Client. Notwithstanding
the foregoing. Client shall not be responsible for any taxes based upon the income of JHA.

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	18.	 	Confidentiality and Regulatory Compliance.
	 
	 	 	JHA and Client each agree that all information communicated to it by the other, including the
terms and conditions of this Agreement, whether before the effective date or during the term of
this Agreement, shall be received in strict confidence, shall be used only for the purposes of
this Agreement, and that no such information shall be disclosed by the recipient party, its
agents or employees without prior written consent of the other party, unless such information is
publicly available from other than a breach of this provision. Each party agrees to take all
reasonable precautions to prevent the disclosure to outside parties of such information,
including without limitation, the terms of this Agreement except as may be necessary by reason
of legal, accounting or regulatory requirements beyond the reasonable control of JHA or Client,
as the case may be.
	 
	(a)	 	Gramm-Leach-Bliley Act Compliance
	 
	 	 	JHA will not disclose, nor permit access to, the private information of Client or its consumers
for any purposes other than those specifically required to fulfill JHA’s contractual
obligations with Client. JHA will not sell the information regarding the Client’s consumers for
any reason. In connection with providing services to Client, JHA will take all commercially
reasonable steps to ensure the security and confidentiality of Client’s and its consumers’
information and to protect against anticipated threats and hazards to the security of such
information. JHA will take all commercially reasonable steps to prevent unauthorized access to
or use of such information that could result in substantial harm or inconvenience to Client or
its consumers. In the event any court or regulatory agency seeks to compel disclosure of said
information JHA will, if legally permissible, promptly notify Client of said attempt and will
cooperate so that Client may at its expense seek to legally prevent this disclosure of
information. JHA will upon request provide copies of applicable audit reports, summaries of
test results and other equivalent evaluations with regard to security and confidentiality in
connection with the Services JHA provides to that Client. JHA may charge a standardized fee to
respond to such requests.
	 
	 	 	JHA has published its GLBA compliance commitment to all of its financial institution customers
in its “Policy on Privacy of Consumer Financial Information”, and to the extent that additional
commitments are reflected in future published versions of said policy, the same shall be
incorporated herein without further actions by the parties.
	 
	 	 	If a breach of security results in an unauthorized intrusion into JHA systems which directly
and materially affects Client or its consumers, JHA will within a reasonable time
report on the intrusion to Client and will subsequently report the corrective action taken in response.
	 
	(b)	 	Router Control and Security
	 
	 	 	To facilitate data processing services provided by JHA to Client and to secure related
telecommunications, Client grants to JHA full and exclusive rights to remotely control those
computer and telecommunications routers associated with the data processing services, even
though owned by Client and located in Client’s facilities. Such controls include, but are not
limited to configuration, testing, implementation, logical security, modification and
troubleshooting.
	 
	 	 	During the term of the Data Processing Services Agreement, JHA assumes responsibility for such
controls. All controls will be returned to Client upon termination of the Data Processing
Services Agreement.
	 
	 	 	Client will be responsible for maintaining control over the physical security and operating
environment of the router, including placement of the router where physical access is limited
to authorized persons only, and ensuring that adequate cooling and protection from the
elements, as defined in the router’s operating specifications, is provided. Additionally, each
router should have the following statement posted in close proximity and clear view:
“UNAUTHORIZED ACCESS TO THIS NETWORK DEVICE IS PROHIBITED. You must have explicit permission to
access or configure this device. All activities performed on this device may be logged, and
violations of this policy may result in disciplinary action, and may be reported to law
enforcement.”
	 
	19.	 	Equipment Return.
	 
	 	 	Any equipment provided by JHA and placed at
the Client’s site during the term of this
Agreement must be returned at termination of
this Agreement at the expense of Client. Client
will pay to JHA an amount equal to the fair
market value of any equipment not returned to
JHA within thirty (30) days after termination.
Equipment may include, but is not limited to:
ATM modems, JHA’s workstations and other
telecommunications equipment. If Client
changes the Processing Services provided to Client under this Agreement and said change results
in Equipment, communications systems and lines which will no longer be needed, the Client shall
bear all fees associated with said items including but not limited to buyouts of the contracts
and leases and termination fees associated therewith as applicable.
	 
	20.	 	Expiration of Offer.
	 
	 	 	This offer for Products in this Agreement will expire if not executed by the Client and
returned to JHA within sixty (60) days from the date first listed above.

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	21.	 	Audit Responsibility.
	 
	 	 	JHA shall cause to be performed, on an annual basis, a third party operational review of its
processing centers. A copy of the most recently completed audit for Client’s servicing center
will be made available upon written request to the manager of the center. JHA shall, upon
request, schedule a mutually convenient time whereby Client audit representatives may visit the
processing center for further audit needs. Client should review on a daily basis any audit,
maintenance and exception reports available from JHA.
	 
	22.	 	Assignability.
	 
	 	 	This Agreement shall not be transferable or assignable by Client without prior written consent
by JHA. However, Client may assign its rights and obligations under this Agreement by written
document, to which JHA is a signing party, to any holding company which becomes a majority
stockholder or parent company of Client by voluntary action and with the written approval of
Client and its stockholders. In this event, both Client and the assignee shall be responsible
and liable to JHA for the performance of the obligations and duties of Client pursuant to this
Agreement.
	 
	23.	 	Entire Agreement.
	 
	 	 	This Agreement including Exhibit A attached and incorporated herein constitutes the sole and
entire Agreement between JHA and the Client pertaining to the provision of subject Processing
Services and supersedes all prior agreements and understandings of the parties in connection
therewith. JHA makes no representations or
warranties, express or implied, by operation of
law or otherwise, except those expressly stated
herein. This Agreement shall not be modified,
amended, rescinded or waived in whole or in
part except by a duly executed written
document signed by the parties. This
Agreement and the exhibits and schedules attached hereto shall be governed by the laws of the
State of Missouri, and the rules and regulations of the appropriate banking regulatory agencies.
The parties hereto bind themselves and their successors and assigns to the faithful observance and
performance of this Agreement and the terms and conditions hereof; provided that the Client shall
not assign its rights hereunder without the prior written consent of JHA.
	 
	 	 	All notices required by this Agreement shall be sent via certified or registered mail, return
receipt requested, postage prepaid, addressed to JHA at:
	 
	 	 	Jack Henry and Associates, Inc.

663 Highway 60

Monett, MO 65708

Attention: Chief Operating Officer
	 
	 	 	      and to the Client at:
	 
	 	 	Reliance Bank
 11781 Manchester Ave 
Des Peres, MO 63131 
Attention: President
	 
	 	 	The notice shall be deemed delivered on the earlier of the actual date of delivery or four days
after mailing.

Check 21 Exchange Service Agreement 03-17-05 IH

8exv10w23

 

EXHIBIT
10.23

	 	 	 
	

	 	SOFTWARE LICENSE AND SUPPORT AGREEMENT

	 	 	 
	OFFICE ADDRESS:

	 	DATE: January 31, 2006
	JACK HENRY & ASSOCIATES, INC.
	 	 
	663
HIGHWAY 60 • P. O. BOX 807
	 	 
	MONETT, MO 65708
	 	 

NAME AND ADDRESS OF LICENSEE:

Reliance Bank

11781 Manchester Ave

Des Peres, MO 63131

Jack Henry & Associates, Inc (“JHA”) is engaged in the business of providing various services
and licensing computer software for use by financial institutions. The Licensee specified
above is a financial institution. The Licensee agrees to obtain from JHA, and JHA by its
execution of this Agreement, agrees to furnish to Licensee, on the terms and conditions
contained herein, all of the computer Software and services detailed in Exhibit A, which is
specifically made part of this Agreement.

In consideration of the premises and in further consideration of the performance of the terms
and provisions herein, JHA and Licensee contract and agree as follows:

JHA hereby grants and Licensee accepts a non-transferable and non-exclusive license (the
“License”) to use the Software described in Exhibit A for the original term and all renewals
of this Agreement.

The License granted hereby shall be subject to all Standard Terms and Conditions (Sections 1
to 24) set forth on pages 2 through 4 hereof, Exhibit A, Exhibit B and the following C
Exhibits (if any), all of which are incorporated in and specifically made a part of this
Agreement.

          Attached C Exhibits:                                                     
                                               

The Standard Terms and Conditions shall apply in all events except where specifically superseded
in Exhibits A or B or superseded as to individual items of Software in the attached C Exhibits (if
any).

	 	 	 	 	 
	TOTAL LICENSE FEE(s) to Licensee, payable in accordance with the terms of Exhibit A:
	 	$	23,750.00	 
	 
	 	 	 
	TOTAL INSTALLATION FEE(s) to Licensee (excluding non-technical conversion related
assistance fees, requested program customization fees and out-of-pocket expenses),
payable in accordance with the terms of Exhibit A:
	 	$	15,000.00	 
	 
	 	 	 
	TOTAL MAINTENANCE FEE(s):
	 	$	4,750.00	 
	 
	 	 	 

The prices offered above are valid for sixty (60) days from the date first listed above
provided this Agreement is executed by Licensee and returned to JHA within said sixty (60) day
period.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
effective as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	JHA:	 	 	 	LICENSEE:
	JACK HENRY & ASSOCIATES, INC.	 	 	 	Reliance Bank
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/ Terry McMullen	 	 	 	By:	 	/s/ Dale E. Oberkfell
	 	 	 	 	 	 	 	 	 	 	 
	Print/Type Name	 	Terry McMullen	 	 	 	Print/Type Name	 	Dale E. Oberkfell
	Title.	 	General Manager	 	 	 	Title:	 	President	 	 
	Date:	 	3/23/2006	 	 	 	Date:	 	2/8/06	 	 

ABA# 81018888

Dan Tipton 00001733/JF/AO

					
	 	 	 	 	 
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STANDARD TERMS AND CONDITIONS

(Software License and Support Agreement)

1. JHA will furnish said Software, which will be installed on
Licensee’s computer.

2. Licensee covenants to JHA that said Software will be used
only to process its own data, and for no other use or purpose.

3. FEES

Licensee guarantees payment of all the above fees to JHA, together with reimbursement of sales/use
taxes (if any), and all JHA actual out-of-pocket expenses including, but not limited to travel,
lodging, meals, telephone, postage, and shipping costs. 25% of the above License Fee will be paid
at signing of this Agreement. 50% of the above License Fee will be paid three calendar months from
the date of this Addendum. The remaining 25% will be paid nine calendar months from the date of
this Addendum. The Install Fee will be paid when completed.

The annual maintenance fee will be increased if and when Licensee contracts for additional
software programs, software customization or processing of additional banks.

Licensee will pay JHA one and one-half percent (1 1/2%) interest per month (18%
annual), plus all attorney fees and expenses actually incurred by JHA in collecting any delinquent
or past due fees, payments or reimbursements of any kind due JHA by Licensee.

4. LICENSE

JHA hereby grants and Licensee accepts a non-transferable and non-exclusive license (“License”) to
use the Software described above under the terms and conditions of this Agreement.

The License and the Software may not be assigned, sublicensed, or otherwise transferred or copied
in any manner by Licensee without prior written consent from JHA.

Licensee agrees not to remove or alter proprietary notices of JHA on any of the materials
associated with the Software.

Licensee shall use the Software only at Licensee’s controlled location or the locations of the
institutions listed on Exhibit B attached hereto. However off-site testing and/or disaster
processing is permitted provided the owner/operator of the off-site facility has signed JHA’s
Confidentiality Agreement, and JHA is promptly notified by Licensee.

Licensee also covenants and warrants to JHA that off-site test/disaster facilities will conform
to, abide by and be governed and bound by this License Agreement the same as though they were a
signing Licensee. Licensee accepts full responsibility and liability to JHA for any violation or
breach of this License Agreement by any off-site test/disaster facility used by Licensee. If
Licensee or an off-site test/disaster facility violates or breaches this or any other written
agreement it has with JHA or any of its subsidiaries, and such violation or breach is not
corrected within thirty days after Licensee receives written notice thereof from JHA, then JHA may
terminate Licensee’s license to use the Software, and Licensee will cease using the Software and
will return all of same to JHA. Licensee further covenants and warrants to JHA that neither
Licensee, nor any
of its affiliated companies, will employ, in any capacity, any personnel of JHA or any of its
affiliated companies within one year of their employment termination from JHA or any of its
affiliated companies, unless JHA consents in writing.

5. DELIVERY

Delivery of said Software shall be at a time mutually agreed upon by JHA and Licensee, but in no
instance shall such date be longer than ninety (90) days following the execution of this
Agreement.

6. INSTALLATION

JHA will install said unmodified Software at Licensee’s principal office so it will properly
operate on Licensee’s computer. Licensee will furnish data needed and requested by JHA, and will
co-operate with and assist JHA personnel in installation of said Software.

7. SUPPORT

JHA will furnish Licensee support as provided herein:

A. During the term of this Agreement, JHA will provide
Licensee the following maintenance and support for said
Software:

          (a) Modified or new software programs required
by a change in Federal or State banking laws, within a
reasonable time after Licensee gives JHA written notice of such
change.

          (b) Updates and enhancements of existing
Software programs on the same terms on which they are
offered by JHA to other licensed users of same.

          (c) Technical support, via telephone, for
questions or problems with the use of said Software.

B. JHA will NOT furnish Licensee maintenance or support
for any Software problems caused or contributed to by the
following:

          (a) program or CL was not originally provided by
JHA, or

          (b) an unauthorized alteration or revision to the
Software, or program or CL procedure problems that were
previously corrected by JHA, delivered to Licensee, but not
installed by Licensee, or any problems with data on tape, disk
or diskettes which have been caused by defects in IBM (or
other hardware manufacturers) programming, or failure of
Licensee to load IBM (or other hardware manufacturers)
operational/system software new Releases and/or Program
Temporary Fixes (PTFs), or

          (c) program or CL procedure problems which are
the result of improper operator handling or use.

					
	 	 	 	 	 
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          (d) JHA may refuse to furnish maintenance or support to Licensee if any fees or payments of
any kind due JHA or any of its subsidiaries from Licensee are delinquent and Licensee fails or
refuses to cure any such delinquency within thirty (30) days after written notice from JHA, or if
Licensee is in breach or default on any written Agreement with JHA or any of its subsidiaries.

     C. The original term for the Support portion of this Agreement runs from above date to the
next 1st day of July. This Agreement automatically renews for successive terms of 12
months each, unless either JHA or licensee gives written non-renewal notice to the other party
thirty (30) or more days before the end of a term. JHA may review and change the maintenance fee
for any renewal term, but must notify Licensee sixty (60) or more days before the end of any term.
If no such change is made, Licensee will pay JHA an annual advance fee on July 1 of each renewal
term, which is the same as the full year annual fee for the last expired term.

8. WARRANTIES

A. JHA warrants that unmodified Software will operate in
accordance with the then current electronic documentation
provided by JHA. Under this warranty, JHA will correct any
program errors in the unmodified Software at no extra charge
to Licensee. This warranty is valid for sixty (60) days from the
date of last initial installation of all of said Software.

B. THIS WARRANTY IS EXPRESSLY IN LIEU OF ALL OTHER
WARRANTIES, EXPRESS OR IMPLIED, OR ANY IMPLIED
WARRANTY OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE. IN NO EVENT SHALL JHA BE LIABLE
FOR INDIRECT, CONSEQUENTIAL, PUNITIVE OR SPECIAL
DAMAGES.

9. PROPRIETARY PRODUCT

All Software, customization, modification, releases and optional modules furnished now or
hereafter by JHA to Licensee shall be and remain the property of JHA, subject to the rights of the
Licensee as defined in this Agreement.

10. TERM

This Agreement grants the Licensee a non-exclusive, paid-up license to use the Software as
permitted herein, for ten (10) years immediately subsequent to the date of this Agreement, except
as modified by conditions described in paragraph 13 of this Agreement.

11. TRADE SECRET

Licensee hereby acknowledges that the Software provided by JHA under this Agreement is a
trade secret of JHA, and as such is protected by civil and criminal law, is very valuable to JHA,
and that its use must be carefully and continuously controlled. In accordance with the aforesaid,
Licensee agrees to use the highest standard of diligence to ensure the confidentiality of the
Software, and will prohibit the unauthorized access to, use or duplication of any of the Software.
Licensee agrees to keep all machine-readable Software in a secure place which is as secure as
Licensee provides for its most confidential materials. Licensee will not cause, permit nor allow
the Software or materials provided by JHA to be copied, duplicated, transcribed,
reverse engineered, sold to, revealed to, or used by any other person, firm or company without
prior written consent of JHA. Licensee agrees to notify JHA immediately of the unauthorized
possession, use or knowledge of any item supplied under this Agreement by any person or
organization not authorized by this Agreement to have such possession, use or knowledge. Licensee
will promptly furnish JHA full details of such possession, use or knowledge, and will cooperate
fully with JHA in any litigation against third parties deemed necessary by JHA to protect its
proprietary rights. Licensee’s compliance with the above shall not be construed in any way as a
waiver of JHA’s right to recover damages or obtain other relief against Licensee for its negligent
or intentional harm to JHA’s proprietary rights or for breach of contractual rights. If Licensee
attempts or allows others to attempt to use, copy, duplicate, transcribe or convey the items
supplied by JHA pursuant to this Agreement, in a manner contrary to the terms of this Agreement or
in derogation of JHA’s proprietary rights, whether these rights are explicitly herein stated,
determined by law, or otherwise, JHA shall have, in addition to any other remedies available to it
at law or equity, the right to injunctive relief enjoining such actions, Licensee hereby
acknowledging that irreparable harm will occur to JHA and that other remedies are inadequate. This
paragraph will survive expiration or termination of this Agreement.

12. COMPLIANCE WITH LAWS

Licensee assumes all responsibility in assuring compliance with all regulations relating to
Licensee’s use of the software.

13. BUSINESS TERMINATION

At JHA’s option, all of Licensee’s rights under this Agreement shall terminate, and the
Software shall be returned to JHA if the ownership or management of Licensee or any of its
subsidiaries changes by reason of voluntary or involuntary bankruptcy, receivership, conservatorship, custodianship, assignment for benefit of creditors, seizure of assets, liquidation,
dissolution, ceasing to do business, or action by FDIC, RTC or other State or Federal authorities
which would divest control from present ownership and management of Licensee.

In the event JHA ceases to do business, the successor to JHA’s assets will be bound by this
Agreement the same as JHA, and Licensee may continue to use the Software under all the terms and
conditions of this Agreement. If there is no successor to JHA’s assets, then the Software shall
become the non-exclusive proprietary product of Licensee subject to all of the confidentiality
restrictions described in paragraph 11 above; except that Licensee may reveal Software and/or
materials to third parties for the sole purpose of maintenance and customization of the Software
for the sole use of Licensee, provided said third parties have signed similar written
confidentiality restrictions.

14. CONFIDENTIALITY

JHA and Licensee each agree that all information communicated to it by the other, including
the terms and conditions of this Agreement, whether before the effective date or during the term
of this Agreement, shall be received in strict confidence, shall be used only for the purposes of
this Agreement, and that no such information shall be disclosed by the recipient party, its agents
or employees without prior written consent of the other party, unless such information is publicly
available from other than a breach of this provision. Each party agrees to take all

					
	 	 	 	 	 
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reasonable precautions to prevent the disclosure to outside parties of such information,
including without limitation, the terms of this Agreement except as may be necessary by reason of
legal, accounting or regulatory requirements beyond the reasonable control of JHA or Licensee, as
the case may be.

15. STATUTE OF LIMITATIONS

No action arising out of this Agreement may be brought by Licensee or JHA more than two
years after the cause of action has accrued, and the injured party has actual knowledge of the
accrual.

16. COMPLETE AGREEMENT

This Agreement supersedes all prior license or use agreements for JHA Software, if any, and
contains the entire agreement between the parties with respect to the transactions contained
herein, and it may be modified or altered only by a written instrument signed by all parties
hereto.

17. HEADINGS

The headings of each paragraph contained herein are provided only for convenience and shall
not be deemed controlling.

18. BINDING

This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective permitted assigns and successors.

19. ASSIGNABILITY

This Agreement shall not be transferable or assignable by Licensee without prior written
consent by JHA. However, Licensee may assign its rights and obligations under this Agreement by
written document, to which JHA is a signing party, to any holding company which becomes a majority
stockholder or parent company of Licensee by voluntary action and with the written approval of
Licensee and its stockholders. In this event, both Licensee and the assignee shall be responsible
and liable to JHA for the performance of the obligations and duties of Licensee pursuant to this
Agreement.

20. GOVERNING LAW

This Agreement shall be governed by, construed and enforced under, and subject to, the laws
of the State of Missouri. If any of the provisions of this Agreement are invalid under any
applicable statute or rule of law, they are, to that extent, deemed omitted. Such omission does
not change the intent or binding nature of any or all of the rest of this Agreement.

21. LIMITATION OF LIABILITY

JHA shall not be liable to Licensee or any other person, firm or company, for failure to
fulfill its obligations hereunder due to an event of “force majeure” (herein defined as acts of
God, public disaster, fire, flood, riot, war, labor strikes/disputes,
judicial orders/decrees, government laws/regulations, or interruptions of communications, transportation or
electricity). Any liability of JHA for any loss, damage, or cost hereunder shall be limited to
actual direct damages incurred by Licensee, but in no event shall the aggregate of liability exceed
the total LICENSE FEE paid by Licensee to JHA, nor shall any amount of the liability include any
indirect, consequential, punitive or special damages incurred by Licensee.

22. NOTICE

Any notices under this Agreement shall be written and shall be deemed delivered when
actually received, or three days after they are deposited with the United States Postal Service,
certified mail, return receipt requested when addressed to the other party at its above address,
which may be changed by written notice.

23. COUNTERPARTS

Two (2) duplicate originals of this Agreement are executed with each party retaining one (1)
original.

24. GRAMM-LEACH-BLILEY ACT COMPLIANCE

JHA will not disclose, nor permit access to, the private information of Licensee or its
consumers for any purposes other than those specifically required to fulfill JHA’s contractual
obligations with Licensee. JHA will not sell the information regarding the Licensee’s consumers
for any reason. In connection with providing services to Licensee, JHA will take all commercially
reasonable steps to ensure the security and confidentiality of Licensee’s and its consumers’
information and to protect against anticipated threats and hazards to the security of such
information. JHA will take all commercially reasonable steps to prevent unauthorized access to or
use of such information that could result in substantial harm or inconvenience to Licensee or its
consumers. In the event any court or regulatory agency seeks to compel disclosure of said
information JHA will, if legally permissible, promptly notify Licensee of said attempt and will
cooperate so that Licensee may at its expense seek to legally prevent this disclosure of
information.

JHA has published its GLBA compliance commitment to all of its financial institution customers in
its “Policy on Privacy of Consumer Financial Information”, and to the extent that additional
commitments are reflected in future published versions of said policy, the same shall be
incorporated herein without further actions by the parties.

If a breach of security results in an unauthorized intrusion into JHA systems which directly and
materially affects Licensee or its consumers, JHA will within a reasonable time report on the
intrusion to Licensee and will subsequently report the corrective action taken in response.

					
	 	 	 	 	 
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