Document:

Exhibit 10.12

                       FIRST AMENDMENT TO LETTER AGREEMENT

THIS FIRST AMENDMENT TO LETTER AGREEMENT (the "First Amendment") is made as of
the 29th day of September, 2000, and is by and between United Financial Corp., a
Minnesota corporation (the "Borrower"), and Wells Fargo Bank Minnesota, National
Association, formerly known as Norwest Bank Minnesota, National Association, a
national banking association ("Wells Fargo").

REFERENCE IS HEREBY MADE to that certain letter loan agreement dated November
17, 1999 (the "Agreement"), made between the Borrower and Wells Fargo.
Capitalized terms not otherwise defined herein shall have the respective
meanings ascribed to them in the Agreement.

WHEREAS, pursuant to the provisions of the Agreement, Wells Fargo is the holder
of that certain revolving promissory note dated November 18, 1999 in the face
amount of $3,000,000.00, made by the Borrower and payable to Wells Fargo (the
"Note");

WHEREAS, the Borrower has requested Wells Fargo to (1) make certain
modifications respecting the Covenants referenced in the Agreement; (ii) waive
the event of non-compliance under the Agreement relating to the Bank resulting
from conditions causing a breach of the ratio of its allowance for loan and
lease losses to total non-performing loans (the "Event of Non-Compliance"); and
(iii) renew the Line and correspondingly the Note from October 30, 2000 to
October 30, 2001. The Non-Compliance is further described in Section 6 of this
First Amendment.

WHEREAS, Wells Fargo is willing to grant the Borrower's request, subject to the
provisions of this First Amendment;

NOW, THEREFORE, in consideration of the premises and for other valuable
consideration received, it is agreed as follows:

     1.   The first sentence of Section 1 of the Agreement is hereby amended so
          that, when read in its entirety, it provides as follows:

               "From time to time until October 30, 2001 (the "Termination Date"
               the Borrower may request advances under the Line in an aggregate
               principal amount not exceeding $3,000,000.00, at any one time
               outstanding."

     2.   Section 2 of the Agreement is hereby amended so that, when read in its
          entirety, it provides as follows:

               " Purpose. The proceeds of the advances under the Line shall be
               used exclusively to (1) acquire issued and outstanding shares in
               the Valley Bank of Arizona, a state chartered commercial bank
               located in Phoenix, Arizona (the "Phoenix Bank"; "Acquisition"),
               the effect of which Acquisition will provide Borrower with an
               ownership interest in Phoenix Bank approximating fifty per cent;
               and (ii) purchase from time to time shares of Borrower's common,
               voting stock from existing shareholders which Borrower shall then
               retire as treasury shares."

     3.   Section 10 of the Agreement is hereby amended by adding the following
          new Subsections C and D immediately following Subsection B:

<page>

United Financial Corp.
First Amendment To Letter Agreement
September 29, 2000

             "C. To maintain a Return on Average Assets ("ROAA") of not less
               than 0.50% as of the end of each fiscal quarter, commencing
               September 30, 2000, calculated on a four quarter moving average
               including the current quarter reported plus the three immediately
               preceding quarters."

              D. To maintain its Leverage Capital Ratio at a level equal to or
               greater than seven and one-half percent (7.50%) as of the end of
               each fiscal quarter commencing September 30, 2000, or the minimum
               ratio required by any regulatory agency having authority over the
               Borrower. As used herein, "Leverage Capital Ratio" shall be
               computed by dividing the Borrower's Tier 1 (Core) Capital by
               Adjusted Total Average Assets. Also as used herein, Leverage
               Capital Ratio, "Tier 1 (Core) Capital" and "Adjusted Total
               Average Assets" shall be defined and further computed pursuant to
               12CFR Part 567 and related, applicable stipulations set forth by
               the Office of Thrift Supervision ("OTS") and Fed. The
               aforementioned ratios and calculations shall be reflected in the
               Bank's Call Reports delivered to the OTS and Fed (as defined in
               Section 11B below). "

Furthermore, and as a result of the aforementioned additions enumerated in this
Paragraph 3 of this First Amendment, Subsections C and D of Section 10 of the
Agreement shall be hereafter referenced as Subsections E and F, respectively.

     4.   Section 10D(iii) of the Agreement, which shall now be referenced as
          10F (i) pursuant to Paragraph 3 of this First Amendment, is hereby
          amended so that, when read in its entirety, it provides as follows:

             "(i) Not to allow the aggregate total of its non-performing
               loans (those classified 90 days or more past due and those on
               non-accrual as reported in the Bank's quarterly Call Reports and
               the Borrower's quarterly FR Y-9C reports) to exceed fifteen
               percent (15%) of its Tier 1 (Core) Capital, as of the end of each
               fiscal quarter commencing September 30, 2000."

     5.   Section 10D (iv) of the Agreement shall now be referenced as 10F (ii)
          pursuant to Paragraph 3 of this First Amendment. Furthermore, Sections
          10D (i) and 10D (ii) of the Agreement shall be deleted in their
          entireties and shall not be replaced.

     6.   Wells Fargo agrees to temporarily waive the Event of Non-Compliance
          (and such Event of Non-Compliance will not constitute an event of
          default) for the quarterly period ended June 30, 2000 (the "Waiver"),
          wherein the Bank posted a ratio of its allowance for loan and lease
          losses to non-performing loans of 93% versus a required minimum of
          100% under the Agreement, provided, however, that the ratio of
          allowance for loan and lease losses to non-performing loans as set for
          in paragraph 10F(ii) of the Agreement will become effective herewith
          and be enforceable for the quarterly period ending September 30, 2000,
          and ensuing quarters as set forth in the Agreement. This Waiver is
          valid only with regard to the Covenant recited in this Paragraph 6 of
          this First Amendment, and for the Event of Non-Compliance described
          above, and for the time specified herein. All other covenants, terms,
          and conditions of the Agreement remain in full force and effect.

     7.   Simultaneously with the execution of this First Amendment, the
          Borrower shall execute and deliver to Wells Fargo, in form and content
          acceptable to Wells Fargo, a new promissory note (which, for purposes
          of this First Amendment only, shall be referred to herein as the "New
          Note") in the face amount of $3,000,000.00. Upon the execution and

<page>

United Financial Corp.
First Amendment To Letter Agreement
September 29, 2000

          delivery to Wells Fargo of the New Note, the outstanding principal of,
          and accrued but unpaid interest on, the Note shall be deemed,
          respectively, the outstanding principal balance of, and accrued but
          unpaid interest on, the New Note. The New Note shall replace, but
          shall not be deemed payment or satisfaction of the Note. All
          references in the Loan Agreement to the "Note" shall be deemed to mean
          the New Note as modified herein.

     8.   The Borrower hereby represents and warrants to Wells Fargo as follows:

          A.   As of the date of this First Amendment, the outstanding principal
               balance of the Note is $975,000.00.

          B.   The Agreement and Note constitute valid, legal and binding
               obligations owed by the Borrower to Wells Fargo, subject to no
               counterclaim, defense, offset, abatement or recoupment.

          C.   As of the date of this First Amendment, (1) the representations
               and warranties set forth in Subsections A, E and G of the Section
               9 of the Agreement are each true, (ii) there exists not Event of
               Non-Compliance under this Agreement except as provided above, and
               (iii) there exists no Event of Default under the Agreement, nor
               does there exist any event which, with the giving of notice or
               the passage of time, or both, could become such an Event of
               Default.

          D.   The execution, delivery and performance of this First Amendment
               and the New Note by the Borrower are within its corporate powers,
               have been duly authorized, and are not in contravention of law or
               the terms of the Borrower's Articles of Incorporation or By-laws,
               or of any undertaking to which the Borrower is a party or by
               which it is bound.

          E.   All financial statements delivered to Wells Fargo by or on behalf
               of the Borrower, including any schedules and notes pertaining
               thereto, have been prepared in accordance with Generally Accepted
               Accounting Principles consistently applied, and fully and fairly
               present the financial condition of the Borrower at the dates
               thereof and the results of operations for the periods covered
               thereby, and there have been no material adverse changes in the
               financial condition or business of the Borrower from December 31,
               1999 to the date hereof.

     9.   Upon request, the Borrower shall deliver to Wells Fargo a Corporate
          Certificate of Authority as of the date of this First Amendment, and
          in form and content acceptable to Wells Fargo.

     10.  Except as expressly modified by this First Amendment, the Agreement
          remains unchanged and in full force and effect.

IN WITNESS WHEREOF, the Borrower and Wells Fargo have executed this First
Amendment as of the date first written above. Without limiting the generality of
the foregoing, all indebtedness under the Loan shall continue to be secured by
that certain Security Agreement/ Collateral Pledge Agreement executed by the
Borrower and dated November 18, 1999, which has been duly

<page>

United Financial Corp.
First Amendment To Letter Agreement
September 29, 2000

executed by the Borrower for the benefit of Wells Fargo, and which remains
unchanged and in full force and effect.

UNTED FINANCIAL CORP.                  WELLS FARGO BANK MINNESOTA,
                                       NATIONAL ASSOCIATION

By: /s/ Kurt R. Weise                  By: /s/ Michael Bodeen
    ------------------------               ------------------------
    Its: President and CEO                 Its: Vice PresidentTransport Corporation of America, Inc. Exhibit 10.14

	

TRANSPORT CORPORATION OF AMERICA, INC.

1715 Yankee Doodle Road

Eagan, MN 55121

July 29, 2002

Mr. Robert C. Stone

6443 Orchard Avenue North

Brooklyn Center, Minnesota  55429

Dear Bob:

This letter describes the agreement by and among you and Transport America regarding (a) your termination as Vice President of Fleet Services of Transport Corporation of America, Inc. due to a reorganization of Transport America’s management team and the elimination of your position, and (b) your release of any claims you may have against  Transport America. You have also agreed to certain confidentiality restrictions that are reflected in this letter as well. The term “Transport America” as used in this Agreement means Transport Corporation of America, Inc., its subsidiaries and respective officers and directors.

If, after reading this letter, you feel there is any discrepancy between our conversations and the content of this letter, please contact Karen Vesovich, Director of Human Resources.

1.

Departure from Employment.  The parties agree that because of the elimination of your position at Transport America, your employment relationship with Transport America shall end effective July 29, 2002 (the “departure date”), and that, except for payment by Transport America to you of compensation in the aggregate sum of $12,944.52 (less applicable withholding) for 250.46 hours of earned and unused vacation time and personal leave, Transport America will stop all salary and other compensation payments to you as of the departure date subject only to the provisions of this Agreement.

2.

Severance Benefits. Although neither Transport America nor you are obligated to each other beyond your termination and departure on the departure date, you have agreed to comply with certain restrictions and Transport America has offered to provide you with the following benefits:

A.

Severance
Payments. In consideration for the promises made in this Agreement,
and subject to any rescission of this Agreement as provided later in this Agreement, Transport America will pay you each week, for a period of twenty-six (26) weeks, an amount equal to your weekly salary that was in effect as of your departure date, ($2067.30) less applicable taxes and withholding and less up to thirty-five dollars ($35) per 

	
week to be withheld as payment for your portion of the premium costs of elected benefits under Section 2B of this Agreement. If you execute this Agreement and do not rescind it within the rescission periods provided for later in this Agreement, then the weekly severance payments will accrue as of the departure date and will be paid to you upon the receipt by Transport America
 of the Exhibit to this Agreement, signed and dated by you. Subsequent weekly severance payments will be paid thereafter, when due. You expressly acknowledge that these are payments to which you are not otherwise entitled except as a term of this Agreement.

B.

Continuation Of Benefits. As further consideration for the promises in this Agreement, and subject to any rescission of this Agreement as provided later in this Agreement, should you elect to continue to participate in those medical, dental and/or life insurance benefits you were participating in as of your departure date as provided for by COBRA, Transport America, will continue to pay the same portion of your premium cost of participating in the elected benefits for a period of twenty-six (26) weeks, or until the date on which you become covered under another plan, whichever occurs first, as such portion was paid by Transport America during the period of your employment. You acknowledge that these payments by Transport America are not payments to which you are otherwise entitled except

upon execution of this Agreement. For this period, you will be responsible for the portion of the premium payments not paid for by Transport America.  For any periods of time that you may elect to continue coverage after the period referred to above, you will be responsible for the entire premium cost of the continuing coverage subject only to your rights under COBRA. You will retain at all times the right to elect not to continue your participation in the group health insurance benefits and the right to discontinue your participation as provided for under COBRA by providing appropriate notice to Transport America. Except as expressly provided for in this paragraph, all benefits will be discontinued immediately upon the departure date.

C.

Outplacement Support Services. Transport America will provide you with Outplacement Support Services through Employers Association, Inc., located at 9805 45th Avenue North, Plymouth, Minnesota  55442, for a period of thirty (30) days totaling $975.

3.

Severance Consideration. In consideration for the payments and benefits set forth above, you agree as follows:

A.

Confidentiality of this Agreement. You agree that the terms of this Agreement are, and shall remain, confidential and that you will not, either directly or indirectly, disclose either the terms or the fact of this Agreement to any person other than your attorney, your accountant, tax advisor, or spouse, or as may be required by either judicial or administrative order. You expressly agree not to disclose the terms of this Agreement to any employees or former employees of Transport America.

2 

	

B.

Confidential Information. You agree at all times to use all reasonable means to keep Confidential Information secret and confidential. You shall not at any time use, disclose, duplicate, record, or in any other manner reproduce in whole or in part any Confidential Information, except as necessary to determine compliance with your obligations under this Agreement so long as such disclosure is not to a competitor of Transport America. You shall not at any time render services to any person or entity if providing such services would require or likely result in using or disclosing Confidential Information. You acknowledge that use or disclosure of any of Transport America’s confidential or proprietary information in violation of this Agreement would have a materially detrimental
effect upon Transport America, the monetary loss from which would be difficult, if not impossible, to measure. You agree that should you breach the confidentiality restrictions of this Agreement, Transport America will be entitled to seek injunctive relief and specific enforcement of this Agreement.

For purposes of this Agreement, “Confidential Information” shall mean any information that is not generally known by Transport America’s competitors or the general public. Subject to the foregoing, Confidential Information includes, but is not limited to, data of any type that was created by you in the course of your employment by Transport America; data or conclusions or opinions formed by you in the course of employment; manuals; trade secrets; methods, procedures, or techniques pertaining to the core business of Transport America; specifications; systems; price lists; marketing plans; sales or service analyses; financial information; customer names or customer specific information; supplier names; employee names and personnel  information; research and development data; diagrams;

 drawings; videotapes, audiotapes, or computerized media used as training regimens; and notes, memoranda, notebooks, and records or documents that were created or used by you in the course of employment with Transport America.  Confidential Information does not include information that you can demonstrate by reliable, corroborated documentary evidence (1) is generally available to the public, (2) became generally available to the public through no act or failure to act by you, or (3) relates to a business or service not provided by Transport America on or before July 29, 2002.

C.

Return of Property.  You will return any Transport America property in your possession and all copies thereof, including but not limited to all office equipment, keys, documents, hardware and software and specifically including any Confidential Information. 

D.

Release
Of Claims. In consideration of the terms and conditions set forth in
this Agreement, you, your heirs, legal representatives, successors and assigns hereby forever release and discharge Transport America, and its officers, directors, agents and employees, as well as the successors and assigns of each from any and all manner of actions, causes of actions, individual or class action claims or demands of every kind whatsoever, whether known, suspected or unknown in law or in equity, and however originating or existing to the date hereof including, but not limited to, all claims or potential claims arising out of state or federal law specifically including, but not limited to, any claims under the Age

3 

	

 Discrimination in Employment Act, 29 U.S.C. § 621, et seq., Title VII
 of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Minnesota Human Rights Act, or any other applicable laws including, but not limited to, any claims arising out of the acts or statements of any of Transport America’s officers, directors, agents or employees or the terms and conditions of your employment by Transport America or the ending of that employment relationship.

You expressly understand and agree that, by signing this Agreement, you give up all claims of every kind, whether you know about them now or not, that you may have against Transport America as of the date of this Agreement.

4.

Consideration Period.  You understand and acknowledge that you have an opportunity to consult with an attorney of your choosing prior to executing this Agreement. You acknowledge that you are entitled to take up to 21 days to consider the terms of this Agreement, and to discuss them with your attorney,  before signing it although you are free to sign the Agreement at any time during the 21 day consideration period if you wish to do so.

5.

Rescission Period.  You understand and acknowledge that to the extent this Agreement acts to release any and all claims you may have under the Age Discrimination in Employment Act you have the right to rescind this Agreement within seven (7) calendar days of signing it. You further understand that to the extent this Agreement acts to release any and all claims you may have under the Minnesota Human Rights Act you have the right to rescind this Agreement within fifteen (15) calendar days of signing it. To be effective, any rescission by you must be in writing and delivered to Transport America, in the care of the Director of Human Resources, Karen Vesovich, either by hand or by mail within the appropriate period. If sent by mail, the rescission must be:

a.

Postmarked within the applicable 7 or 15 day

period;

b.

Properly addressed to Transport Corporation of America, Inc., attention: Karen Vesovich, Director of Human Resources, 1715 Yankee Doodle Road, Eagan, MN 55121; and

c.

Sent by certified mail, return receipt requested.

If you rescind this Agreement, all of Transport America’s obligations to you under this Agreement will immediately cease, Transport America will owe you no amounts or benefits hereunder. If you rescind this Agreement, you further agree to reimburse us for any payments heretofore made to you pursuant to Section 2 of this Agreement.

6.

General
Terms. This Agreement may be executed in counterparts, each of
which when executed and delivered, shall constitute one and the same instrument.
This Agreement shall not in any way be construed as an admission of liability by Transport America or as an admission that we

4

	

have acted wrongfully with respect to you. We specifically deny and disclaim any such liability or wrongful acts. In the event that any provision of this Agreement is found to be illegal or unenforceable, such provision will be severed or modified to the extent necessary to make it enforceable, and as so severed or modified, the remainder of this Agreement shall remain in full force and effect. No change or modification of this Agreement shall be valid unless in writing and signed by you and Transport America.

This Agreement sets forth the entire agreement between you and Transport America and fully supersedes any prior agreements, contracts or understandings between you and Transport America. You may not assign any of your rights or delegate any of your duties or obligations under this Agreement. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Minnesota, without reference to its conflict of law provisions. 

If this letter accurately reflects our understanding and agreement, please sign the original, copy the document, and return the original to me. The copy is for your file.

We sincerely appreciate your services to Transport America and its affiliates and wish you well in new endeavors.

Very truly yours,

TRANSPORT CORPORATION OF AMERICA, INC.

By:___________________________________

     Michael J. Paxton, President and CEO

Read and agreed to, with declarations confirmed,

this _____ day of ____________, 2002

______________________________________

Robert C. Stone

5 

	

EXHIBIT 

TO

RELEASE AGREEMENT

____________, 2002

Karen Vesovich, Director of Human Resources

Transport Corporation of America, Inc.

1715 Yankee Doodle Road

Eagan, MN 55121

Dear Karen:

This letter, signed and dated more than 15 days after I signed the agreement between Transport America and me, dated July 29, 2002, is to certify that I have taken no steps to exercise my rights of rescission, as described in Section 5 of the Agreement.

Very truly yours,

Robert C. Stone

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]