Document:

Director Retirement Agreement and Split Dollar Agreement for Gregory Childress

 Exhibit 10.21 
  
 BANK OF THE SIERRA 
 DIRECTOR RETIREMENT AGREEMENT 
  
 THIS AGREEMENT
is adopted this 1st day of October, 2002, by and between BANK OF THE SIERRA, a state-chartered commercial bank located in Porterville, California (the “Company”), and GREGORY CHILDRESS (the “Director”). 
  
 INTRODUCTION 
  
 To encourage the Director to remain a member of the Company’s Board of
Directors, the Company is willing to provide salary continuation benefits to the Director. The Company will pay the benefits from its general assets. 
  
 AGREEMENT 
  
 The Company and the Director agree as follows: 
  
 Article 1 
 Definitions

  
 Whenever used in this Agreement, the following words and
phrases shall have the meanings specified: 
  
 1.1
“Change of Control” means the transfer of shares of the Company’s voting common stock such that one entity or one person acquires (or is deemed to acquire when applying Section 318 of the Code) more than 50 percent of the
Company’s outstanding voting common stock. 
  
 1.2
“Code” means the Internal Revenue Code of 1986, as amended. 
  
 1.3 “Disability” means, if the Director is covered by a Company-sponsored disability policy, total disability as defined in such policy without regard to any waiting period. If the Director is not
covered by such a policy, Disability means the Director suffering a sickness, accident or injury that, in the judgment of a physician who is satisfactory to the Company, prevents the Director from performing substantially all of the Director’s
normal duties for the Company. As a condition to receiving any Disability benefits, the Company may require the Director to submit to such physical or mental evaluations and tests as the Company’s Board of Directors deems appropriate and
reasonable. 
  
 1.4 “Early Termination” means the
Termination of Service before Normal Retirement Age for reasons other than death, Disability, Termination for Cause or following a Change of Control. 
  
 1.5 “Effective Date” means October 1, 2002. 

 1.6 “Normal Retirement Age” means the Director attaining 70 years of age. 
  
 1.7 “Normal Retirement Date” means the later of the Normal
Retirement Age or Termination of Service. 
  
 1.8 “Plan
Year” means a twelve-month period commencing on October 1 and ending on September 30 of each year. The initial Plan Year shall commence on the effective date of this Agreement. 
  
 1.9 “Termination for Cause” See Article 5. 
  
 1.10 “Termination of Service” means that the Director ceases
to be a member of the Company’s Board of Directors for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company. 
  
 Article 2 
 Lifetime Benefits 
  
 2.1 Normal Retirement
Benefit. Upon Termination of Service on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Director the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  
 2.1.1 Amount of Benefit. The annual
benefit under this Section 2.1 is $25,000 (Twenty-five Thousand Dollars). The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require the
recalculation of Schedule A. 
  
 2.1.2 Payment
of Benefit. The Company shall pay the annual benefit to the Director in 12 equal monthly installments commencing with the month following the Director’s Normal Retirement Date, paying the annual benefit to the Director for a period of 10
years. 
  
 2.1.3 Benefit Increases.
Commencing on the first anniversary of the first benefit payment, and continuing on each subsequent anniversary, the Company’s Board of Directors, at its sole discretion, may increase the benefit. 
  
 2.2 Early Termination Benefit. Upon an Early Termination, the Company
shall pay to the Director the benefit described in this Section 2.2 in lieu of any other benefit under this Agreement. 
  
 2.2.1 Amount of Benefit. The benefit under this Section 2.2 is the Early Termination Lump Sum set forth on Schedule A for the
Plan Year ending immediately prior to Termination of Service, determined by vesting the Director in the Accrual Balance for the Plan Year ending immediately prior to Termination of Service. Any increase in the annual benefit under Section 2.1.1
shall require the recalculation of this benefit on Schedule A. 

 2.2.2 Payment of Benefit. The Company shall pay the benefit determined under
Section 2.2.1 to the Director in a lump sum within 30 days following Termination of Service. 
  
 2.3 Disability Benefit. Upon the Director’s Termination of Service prior to Normal Retirement Age due to Disability, the Company shall pay to
the Director the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement. 
  
 2.3.1 Amount of Benefit. The benefit under this Section 2.3 is the Disability annual Installment set forth on Schedule A,
determined by vesting the Director in the Normal Retirement Benefit described in Section 2.1.1. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of this benefit on Schedule A. 
  
 2.3.2 Payment of Benefit. The Company shall pay the
annual benefit determined under Section 2.3.1 to the Director in 12 equal monthly installments commencing with the month following the Normal Retirement Age, paying the annual benefit to the Director for a period of 10 years. 
  
 2.3.3 Benefit Increases. Benefit payments may be increased as provided
in Section 2.1.3. 
  
 2.4 Change of Control Benefit.
Upon a Change of Control, followed within twelve (12) months by the Director’s Termination of Service for reasons other than death, Disability or retirement, the Company shall pay to the Director the benefit described in this
Section 2.4 in lieu of any other benefit under this Agreement. 
  
 2.4.1 Amount of Benefit. The benefit under this Section 2.4 is the Change of Control annual Installment set forth on Schedule A, determined by vesting the Director in the Normal Retirement Benefit
described in Section 2.1.1. Any increase in the annual benefit under Section 2.1.1 shall require the recalculation of this benefit on Schedule A. 
  
 2.4.2 Payment of Benefit. The Company shall pay the annual benefit determined in Section 2.4.1 to the Director
on the first of the following Plan Year and the first of each Plan Year thereafter, paying the annual benefit for a period of 10 years. 
  
 2.4.3 Benefit Increases. Benefit payments may be increased as provided in Section 2.1.3. 
  
 Article 3 
 Death Benefits 
  
 3.1 Death During Active Service. If the Director dies while in the active service of the Company, the Company shall pay to the Director’s beneficiary the split dollar death benefit described in the Split
Dollar Agreement attached as Addendum A between the Company and the Director in lieu of any other benefit under this Agreement. 

 3.2 Death During Payment of a Benefit. If the Director dies after any benefit payments have
commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall cease paying the benefit and, in lieu thereof, the Company shall pay to the Director’s beneficiary the present value of the remaining benefit
in a split-dollar arrangement described in the Split Dollar Agreement attached as Addendum A between the Company and the Director. In the event that said benefit was paid in full and no liability remains on the books of the Company, no death benefit
is due to the Director. 
  
 3.3 Death After Termination of
Service But Before Payment of a Benefit Commences. If the Director is entitled to a benefit under Article 2 of this Agreement, but dies prior to the commencement of said benefit payments, the Company shall not pay said benefit, but, in
lieu thereof, shall pay to the Director’s beneficiary the present value of said benefit in a split-dollar arrangement described in the Split Dollar Agreement attached as Addendum A between the Company and the Director. 
  
 Article 4 
 Beneficiaries 
  
 4.1 Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Company. The Director may revoke or modify the designation at any time by filing a new
designation. However, designations will only be effective if signed by the Director and received by the Company during the Director’s lifetime. The Director’s beneficiary designation shall be deemed automatically revoked if the beneficiary
predeceases the Director, or if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director’s estate.

  
 4.2 Facility of Payment. If a benefit is payable to a
minor, to a person declared incompetent, or to a person incapable of handling the disposition of his or her property, the Company may pay such benefit to the guardian, legal representative or person having the care or custody of such minor,
incompetent person or incapable person. The Company may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Such distribution shall completely discharge the Company from all
liability with respect to such benefit. 
  
 Article 5

 General Limitations 
  
 5.1 Termination for Cause. Notwithstanding any provision of this Agreement to the contrary, the Company shall not pay any benefit under this
Agreement if the Company terminates the Director’s service for: 
  
 (a) Gross negligence or gross neglect of duties; 
  
 (b) Commission of a felony or of a gross misdemeanor involving moral turpitude in connection with the Director’s service with the
Company; or 

 (c) Fraud, disloyalty, dishonesty or willful violation of any law or significant Company
policy committed in connection with the Director’s service and resulting in an adverse effect on the Company. 
  
 5.2 Suicide or Misstatement. The Company shall not pay any benefit under this Agreement if the Director commits suicide within three years after
the date of this Agreement. In addition, the Company shall not pay any benefit under this Agreement if the Director has made any material misstatement of fact on any application for any benefits provided by the Company to the Director. 

 
 Article 6 
 Claims and Review Procedure 
  
 6.1 Claims Procedure. An Director or beneficiary (“claimant”) who has not received benefits under the Agreement that he or she believes should be paid shall make a claim for such benefits as follows:

  
 6.1.1 Initiation – Written Claim.
The claimant initiates a claim by submitting to the Company a written claim for the benefits. 
  
 6.1.2 Timing of Company Response. The Company shall respond to such claimant within 90 days after receiving the claim. If the
Company determines that special circumstances require additional time for processing the claim, the Company can extend the response period by an additional 90 days by notifying the claimant in writing, prior to the end of the initial 90-day period,
that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Company expects to render its decision. 
  
 6.1.3 Notice of Decision. If the Company denies part or all of the claim, the Company shall notify
the claimant in writing of such denial. The Company shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
  
 (a) The specific reasons for the denial; 
  
 (b) A reference to the specific provisions of the Agreement on which the denial is based; 
  
 (c) A description of any additional information or material
necessary for the claimant to perfect the claim and an explanation of why it is needed; 
  
 (d) An explanation of the Agreement’s review procedures and the time limits applicable to such procedures; and 
  
 (e) A statement of the claimant’s right to bring a
civil action under ERISA Section 502(a) following an adverse benefit determination on review. 
  
 6.2 Review Procedure. If the Company denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the
Company of the denial, as follows: 
  
 6.2.1
Initiation – Written Request. To initiate the review, the claimant, within 60 days after receiving the Company’s notice of denial, must file with the Company a written request for review. 

 6.2.2 Additional Submissions – Information Access. The claimant shall then
have the opportunity to submit written comments, documents, records and other information relating to the claim. The Company shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits. 
  
 6.2.3 Considerations on Review. In considering the review, the Company shall take into account all materials and information the
claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. 
  
 6.2.4 Timing of Company Response. The Company shall respond in writing to such claimant within 60 days after receiving the request
for review. If the Company determines that special circumstances require additional time for processing the claim, the Company can extend the response period by an additional 60 days by notifying the claimant in writing, prior to the end of the
initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Company expects to render its decision. 
  
 6.2.5 Notice of Decision. The Company shall notify
the claimant in writing of its decision on review. The Company shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
  
 (a) The specific reasons for the denial; 
  
 (b) A reference to the specific provisions of the Agreement on which the denial is based; 
  
 (c) A statement that the claimant is entitled to receive,
upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits; and 
  
 (d) A statement of the claimant’s right to bring a
civil action under ERISA Section 502(a). 
  
 Article 7

 Amendments and Termination 
  
 This Agreement may be amended or terminated only by a written agreement signed by the Company and the Director; however, this Agreement will automatically
terminate if no benefit is payable to the Director due to the Director’s Termination for Cause, Suicide or Misstatement as set forth in Article 5. 

 Article 8 
 Miscellaneous 
  
 8.1
Binding Effect. This Agreement shall bind the Director and the Company, and their beneficiaries, survivors, executors, successors, administrators and transferees. 
  
 8.2 No Guarantee of Service. This Agreement is not a contract for services. It does not give the Director the right
to remain in the service of the Company, nor does it interfere with the shareholders’ rights to replace the Director. It also does not require the Director to remain in the service of the Company nor interfere with the Director’s right to
terminate services at any time. 
  
 8.3
Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner. 
  
 8.4 Reorganization. The Company shall not merge or consolidate into or with another company, or reorganize, or sell substantially all of its assets
to another company, firm, or person unless such succeeding or continuing company, firm, or person agrees to assume and discharge the obligations of the Company under this Agreement. Upon the occurrence of such event, the term “Company” as
used in this Agreement shall be deemed to refer to the successor or survivor company. 
  
 8.5 Tax Withholding. The Company shall withhold any taxes that are required to be withheld from the benefits provided under this Agreement. 
  
 8.6 Applicable Law. The Agreement and all rights hereunder shall be governed by the laws of the State of California,
except to the extent preempted by the laws of the United States of America. 
  
 8.7 Unfunded Arrangement. The Director and beneficiary are general unsecured creditors of the Company for the payment of benefits under this Agreement. The benefits represent the mere promise by the Company to
pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Director’s life is a general
asset of the Company to which the Director and beneficiary have no preferred or secured claim. 
  
 8.8 Entire Agreement. This Agreement constitutes the entire agreement between the Company and the Director as to the subject matter hereof. No rights are granted to the Director by virtue of this Agreement
other than those specifically set forth herein. 
  
 8.9
Administration. The Company shall have powers which are necessary to administer this Agreement, including but not limited to: 
  
 (a) Establishing and revising the method of accounting for the Agreement; 

 (b) Maintaining a record of benefit payments; 
  
 (c) Establishing rules and prescribing any forms necessary
or desirable to administer the Agreement; and 
  
 (d) Interpreting the provisions of the Agreement. 
  
 8.10 Named Fiduciary. The Company shall be the named fiduciary and plan administrator under this Agreement. It may delegate to others certain aspects of the management and operational responsibilities including the employment of
advisors and the delegation of ministerial duties to qualified individuals. 
  
 IN WITNESS WHEREOF, the Director and the Company have signed this Agreement. 
  

					
	DIRECTOR:	 	COMPANY:
		
	 	 	BANK OF THE SIERRA
			
	  

	 	By	 	  

	Gregory Childress	 	 	 	 
	 	 	Title	 	  

 BENEFICIARY DESIGNATION 
  
 BANK OF THE SIERRA 
 DIRECTOR RETIREMENT AGREEMENT 
  
 Gregory
Childress 
  
 I designate the following as
beneficiary of any death benefits under this Agreement: 
  
 Primary:
                                        
                                        
                                        
                                        
                                       
  
                                       
                                        
                                        
                                        
                                        
                 
  
 Contingent:
                                        
                                        
                                        
                                        
                                   
  
                                       
                                        
                                        
                                        
                                        
                 
  

			
	Note:	 	To name a trust as beneficiary, please provide the name of the trustee(s) and the exact name and date of the trust agreement.

  
 I understand that I may change these
beneficiary designations by filing a new written designation with the Company. I further understand that the designations will be automatically revoked if the beneficiary predeceases me, or, if I have named my spouse as beneficiary and our marriage
is subsequently dissolved. 
  

			
	Signature	 	  

	
	Date                     
	
	Received by the Company this      day of             , 2002.

			
		
	By	 	  

		
	Title	 	  

 BANK OF THE SIERRA 
 SPLIT DOLLAR AGREEMENT 
  
 (ADDENDUM A TO THE BANK OF SIERRA DIRECTOR RETIREMENT AGREEMENT) 
  
 THIS AGREEMENT is adopted this 1st day of October, 2002, by and between BANK OF THE SIERRA, a state-chartered commercial bank located in Porterville, California (the “Company”), and GREGORY CHILDRESS (the
“Director”). This Agreement shall append the Split Dollar Endorsement entered into on even date herewith or as subsequently amended, by and between the aforementioned parties. 
  
 INTRODUCTION 
  
 To encourage the Director to remain a member of the Company’s Board of Directors, the Company is willing to divide the death proceeds of a life
insurance policy on the Director’s life. The Company will pay life insurance premiums from its general assets. 
  
 AGREEMENT 
  
 The Company and the Director agree as follows: 
  
 Article 1 
 General Definitions 
  
 The following terms shall have the meanings specified: 
  
 1.1 “Director Retirement Agreement” means that Director Retirement Agreement between the Company and the
Director on even date herewith. 
  
 1.2 “Insured”
means the Director. 
  
 1.3 “Insurer” means each
life insurance carrier in which there is a Split Dollar Policy Endorsement attached to this Agreement. 
  
 1.4 “Normal Retirement Age” means the Director attaining 70 years of age. 
  
 1.5 “Normal Retirement Date” means the later of the Normal Retirement Age or Termination of Service.

  
 1.6 “Policy” means the specific life
insurance policy or policies issued by the Insurer. 
  
 1.7
“Termination for Cause” means the Company terminating the Director’s service for: 
  
 (a) Gross negligence or gross neglect of duties to the Company; 

 (b) Commission of a felony or of a gross misdemeanor involving moral turpitude in
connection with the Director’s service with the Company; or 
  
 (c) Fraud, disloyalty, dishonesty or willful violation of any law or significant Company policy committed in connection with the Director’s service and resulting in an adverse effect on the Company. 

 
 1.8 “Termination of Service” means the Director ceasing
to be a member of the Company’s Board of Directors for any reason whatsoever, other than by reason of an approved leave of absence. 
  
 Article 2 
 Policy Ownership/Interests

  
 2.1 Company Ownership. The Company is the sole
owner of the Policy and shall have the right to exercise all incidents of ownership. The Company shall be the beneficiary of the remaining death proceeds of the Policy after the Interest of the Director or the Director’s transferee has been
paid according to Section 2.2 below. 
  
 2.2
Director’s Interest. The Director shall have the right to designate the beneficiary of one of the amounts in (a) or (b) below, depending upon time of death. 
  
 a) Pre-retirement Death Benefit. Upon the death of the Director prior to Normal Retirement Date while
actively serving as a member of the Company’s Board of Directors, the split dollar death benefit under this Agreement is $250,000. 
  
 b) Post-retirement Death Benefit. Upon the death of the Director after Termination of Service and while receiving a benefit under the
Director Retirement Agreement, the split dollar death benefit under this Agreement is the accrued liability on the books of the Company, which amount should equal the present value of the remaining benefit to be paid under the Director Retirement
Agreement. In the event that a benefit was paid in full and no liability remains on the books of the Company or if the Director was not eligible for a benefit under the Director Retirement Agreement, no death benefit is due to the Director under
this section 2.2(b). 
  
 2.3 Option to Purchase. The
Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Director or the Director’s transferee the option to purchase the Policy for a period of 60 days from written notice
of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement. 
  
 2.4 Comparable Coverage. Upon execution of this Agreement, the Company
shall maintain the Policy in full force and effect and in no event shall the Company amend, terminate or otherwise abrogate the Director’s interest in the Policy, unless the Company replaces the Policy with a 

 comparable insurance policy to cover the benefit provided under this Agreement and the Company and the Director execute a
new Split Dollar Policy Endorsement for said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Company’s creditors. 
  
 Article 3 
 Premiums 
  
 3.1 Premium Payment. The
Company shall pay any premiums due on the Policy. 
  
 3.2
Economic Benefit. The Company shall determine the economic benefit attributable to the Director based on the amount of the current term rate for the Director’s age multiplied by the aggregate death benefit payable to the Director’s
beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority. 
  
 3.3 Reimbursement. At the end of each Plan Year, the Director shall reimburse the Company in an amount equal to the
economic benefit. 
  
 Article 4 
 Assignment 
  
 The Director may assign without consideration all of the Director’s interests in the Policy and in this Agreement to any person, entity or trust. In
the event the Director transfers all of the Director’s interest in the Policy, then all of the Director’s interest in the Policy and in the Agreement shall be vested in the Director’s transferee, who shall be substituted as a party
hereunder and the Director shall have no further interest in the Policy or in this Agreement. 
  
 Article 5 
 Insurer 
  
 The Insurer shall be bound only by the terms of the Policy. Any payments the Insurer makes or actions it takes in accordance
with the Policy shall fully discharge it from all claims, suits and demands of all entities or persons. The Insurer shall not be bound by or be deemed to have notice of the provisions of this Agreement. 
  
 Article 6 
 Claims and Review Procedure 
  
 6.1 Claims Procedure. Any person or entity who has not received benefits under the Plan that he or she believes should be paid (the “claimant”) shall make a claim for such benefits as follows:

  
 6.1.1 Initiation – Written Claim.
The claimant initiates a claim by submitting to the Company a written claim for the benefits. 

 6.1.2 Timing of Company Response. The Company shall respond to such claimant
within 90 days after receiving the claim. If the Company determines that special circumstances require additional time for processing the claim, the Company can extend the response period by an additional 90 days by notifying the claimant in
writing, prior to the end of the initial 90-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Company expects to render its decision. 
  
 6.1.3 Notice of Decision. If the Company denies part
or all of the claim, the Company shall notify the claimant in writing of such denial. The Company shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
  
 (a) The specific reasons for the denial, 
  
 (b) A reference to the specific provisions of this Agreement
on which the denial is based, 
  
 (c) A
description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed, 
  
 (d) An explanation of this Agreement’s review procedures and the time limits applicable to such procedures, and 
  
 (e) A statement of the claimant’s right to bring a
civil action under ERISA Section 502(a) following an adverse benefit determination on review. 
  
 6.2 Review Procedure. If the Company denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the
Company of the denial, as follows: 
  
 6.2.1
Initiation – Written Request. To initiate the review, the claimant, within 60 days after receiving the Company’s notice of denial, must file with the Company a written request for review. 
  
 6.2.2 Additional Submissions – Information
Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating to the claim. The Company shall also provide the claimant, upon request and free of charge, reasonable access to,
and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits. 
  
 6.2.3 Considerations on Review. In considering the review, the Company shall take into account all materials and information the
claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. 

 6.2.4 Timing of Company Response. The Company shall respond in writing to such
claimant within 60 days after receiving the request for review. If the Company determines that special circumstances require additional time for processing the claim, the Company can extend the response period by an additional 60 days by notifying
the claimant in writing, prior to the end of the initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Company expects to render its decision.

  
 6.2.5 Notice of Decision. The Company
shall notify the claimant in writing of its decision on review. The Company shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
  
 (a) The specific reasons for the denial, 
  
 (b) A reference to the specific provisions of this Agreement
on which the denial is based, 
  
 (c) A statement
that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for
benefits, and 
  
 (d) A statement of the
claimant’s right to bring a civil action under ERISA Section 502(a). 
  
 Article 7 
 Amendments and Termination 
  
 This Agreement may be amended or terminated only by a written agreement
signed by the Company and the Director; however, this Agreement will automatically terminate upon the Director’s Termination for Cause or in the event the Insurer refuses to pay a death benefit according to the terms of the Policy. 

 
 Article 8 
 Miscellaneous 
  
 8.1 Binding Effect. This Agreement shall bind the Director and the Company and their beneficiaries, survivors, executors, administrators and transferees, and any Policy beneficiary. 
  
 8.2 No Guarantee of Service. This Agreement is not a contract for
services. It does not give the Director the right to remain in the service of the Company, nor does it interfere with the shareholders’ rights to replace the Director. It also does not require the Director to remain in the service of the
Company nor interfere with the Director’s right to terminate services at any time. 
  
 8.3 Applicable Law. The Agreement and all rights hereunder shall be governed by and construed according to the laws of the State of California, except to the extent preempted by the laws of the United States of
America. 

 8.4 Reorganization. The Company shall not merge or consolidate into or with another company, or
reorganize, or sell substantially all of its assets to another company, firm or person unless such succeeding or continuing company, firm or person agrees to assume and discharge the obligations of the Company. 
  
 8.5 Notice. Any notice, consent or demand required or permitted to be
given under the provisions of this Split Dollar Agreement by one party to another shall be in writing, shall be signed by the party giving or making the same, and may be given either by delivering the same to such other party personally, or by
mailing the same, by United States certified mail, postage prepaid, to such party, addressed to his or her last known address as shown on the records of the Company. The date of such mailing shall be deemed the date of such mailed notice, consent or
demand. 
  
 8.6 Entire Agreement. This Agreement
constitutes the entire agreement between the Company and the Director as to the subject matter hereof. No rights are granted to the Director by virtue of this Agreement other than those specifically set forth herein. 
  
 8.7 Administration. The Company shall have powers which are necessary
to administer this Agreement, including but not limited to: 
  
 (a) Interpreting the provisions of this Agreement; 
  
 (b) Establishing and revising the method of accounting for this Agreement; 
  
 (c) Maintaining a record of benefit payments; and 
  
 (d) Establishing rules and prescribing any forms necessary
or desirable to administer this Agreement. 
  
 8.8
Named Fiduciary. The Company shall be the named fiduciary and plan administrator under the Agreement. The named fiduciary may delegate to others certain aspects of the management and operation responsibilities of the plan
including the employment of advisors and the delegation of ministerial duties to qualified individuals. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written. 
  

					
	DIRECTOR:	 	COMPANY:
		
	 	 	BANK OF THE SIERRA
			
	  

	 	By	 	  

	Gregory Childress	 	 	 	 
	 	 	Title401 Plus Non-Qualified Deferred Compensation Plan

 Exhibit 10.22 
 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
 

 
 THE EXECUTIVE 
 NONQUALIFIED “EXCESS” PLANTM 

Plan Document 
 

 
 © 2000 Executive Benefit Services, Inc. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 TABLE OF CONTENTS 
  
 THE EXECUTIVE NONQUALIFIED EXCESS PLAN 
  

							
	 	 	Page

	Section 1. Purpose	 	1
		
	Section 2. Definitions	 	1
	 	 	2.1	  	“Accrued Benefit”	 	1
	 	 	2.2	  	“Active Participant”	 	1
	 	 	2.3	  	“Adoption Agreement”	 	1
	 	 	2.4	  	“Adjustment Date”	 	1
	 	 	2.5	  	“Beneficiary”	 	2
	 	 	2.6	  	“Board”	 	2
	 	 	2.7	  	“College Education Account”	 	2
	 	 	2.8	  	“Committee”	 	2
	 	 	2.9	  	“Compensation”	 	2
	 	 	2.10	  	“Deferred Compensation Account”	 	2
	 	 	2.11	  	“Dependent Subaccount”	 	2
	 	 	2.12	  	“Disability”	 	2
	 	 	2.13	  	“Effective Date”	 	3
	 	 	2.14	  	“Eligible Dependent”	 	3
	 	 	2.15	  	“Employee”	 	3
	 	 	2.16	  	“Employer”	 	3
	 	 	2.17	  	“Employer Matching Credits”	 	3
	 	 	2.18	  	“Employer Performance Incentive Credits”	 	3
	 	 	2.19	  	“Independent Contractor”	 	3
	 	 	2.20	  	“Normal Retirement Age”	 	4
	 	 	2.21	  	“Participant”	 	4
	 	 	2.22	  	“Participating Employer”	 	4
	 	 	2.23	  	“Plan”	 	4
	 	 	2.24	  	“Plan Administrator”	 	4
	 	 	2.25	  	“Plan Year”	 	4
	 	 	2.26	  	“Qualified Distribution Event”	 	5
	 	 	2.27	  	“Regular In-Service Withdrawals Account”	 	5
	 	 	2.28	  	“Retire” of “Retirement”	 	5
	 	 	2.29	  	“Salary Deferral Agreement”	 	5
	 	 	2.30	  	“Salary Deferral Credits”	 	5
	 	 	2.31	  	“Service”	 	5
	 	 	2.32	  	“Sponsor”	 	5
	 	 	2.33	  	“Spouse” or “Surviving Spouse”	 	5
	 	 	2.34	  	“Trust”	 	5
	 	 	2.35	  	“Trustee”	 	5
	 	 	2.36	  	“Years of Service”	 	5

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  

							
	Section 3. Credits to Deferred Compensation Account	  	6
	 	 	3.1	  	Salary Deferral Credits	  	6
	 	 	3.2	  	Employer Matching Credits	  	7
	 	 	3.3	  	Employer Performance Incentive Credits	  	7
		
	Section 4. Qualifying Distribution Events	  	7
	 	 	4.1	  	Death of a Participant	  	7
	 	 	4.2	  	Disability	  	7
	 	 	4.3	  	Termination of Service	  	7
	 	 	4.4	  	Retirement	  	8
		
	Section 5. In-Service Withdrawals	  	8
	 	 	5.1	  	Regular In-Service Withdrawals	  	8
	 	 	5.2	  	Financial Hardship Withdrawals	  	9
	 	 	5.3	  	“Haircut” Withdrawals	  	10
	 	 	5.4	  	College Education Withdrawals	  	10
		
	Section 6. Qualified Distribution Events Payment Options	  	11
	 	 	6.1	  	Payment Options	  	12
	 	 	6.2	  	Prepayment	  	12
	 	 	6.3	  	Benefit Exchange	  	12
		
	Section 7. Vesting	  	13
		
	Section 8. Account; Deemed Investment; Adjustment of Accounts	  	13
	 	 	8.1	  	Account	  	13
	 	 	8.2	  	Deemed Investments	  	13
	 	 	8.3	  	Adjustments to Deferred Compensation Accounts	  	13
		
	Section 9. Administration by Committee	  	14
	 	 	9.1	  	Membership of Committee	  	14
	 	 	9.2	  	Committee officers; Subcommittee	  	14
	 	 	9.3	  	Committee meetings	  	14
	 	 	9.4	  	Transaction of business	  	15
	 	 	9.5	  	Committee records	  	15
	 	 	9.6	  	Establishment of rules	  	15
	 	 	9.7	  	Conflicts of interest	  	15
	 	 	9.8	  	Correction of errors	  	15
	 	 	9.9	  	Authority to interpret Plan	  	15
	 	 	9.10	  	Third party advisors	  	16
	 	 	9.11	  	Compensation of members	  	16
	 	 	9.12	  	Expense reimbursement	  	16
	 	 	9.13	  	Indemnification	  	16
		
	Section 10. Contractual Liability; Trust	  	17
	 	 	10.1	  	Contractual Liability	  	17

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  

							
	 	 	10.2	  	Trust	  	17
		
	Section 11. Allocation of Responsibilities	  	17
	 	 	11.1	  	Board	  	17
	 	 	11.2	  	Committee	  	17
	 	 	11.3	  	Plan Administrator	  	18
		
	Section 12. Benefits Not Assignable; Facility of Payments	  	18
	 	 	12.1	  	Benefits not assignable	  	18
	 	 	12.2	  	Payments to minors and others	  	18
		
	Section 13. Beneficiary	  	19
		
	Section 14. Amendment and Termination of Plan	  	19
		
	Section 15. Communication to Participants	  	20
		
	Section 16. Claims Procedure	  	20
	 	 	16.1	  	Filing of a claim for benefits	  	20
	 	 	16.2	  	Notification to claimant of decision	  	20
	 	 	16.3	  	Procedure for review	  	21
	 	 	16.4	  	Decision on review	  	21
	 	 	16.5	  	Action by authorized representative of claimant	  	21
		
	Section 17. Miscellaneous Provisions	  	22
	 	 	17.1	  	Set off	  	22
	 	 	17.2	  	Notices	  	22
	 	 	17.3	  	Lost distributees	  	22
	 	 	17.4	  	Reliance on data	  	22
	 	 	17.5	  	Receipt and release for payments	  	23
	 	 	17.6	  	Headings	  	23
	 	 	17.7	  	Continuation of employment	  	23
	 	 	17.8	  	Merger or consolidation	  	23
	 	 	17.9	  	Construction	  	23

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  

			
	

	  	THE EXECUTIVE
		  	NONQUALIFIED “EXCESS” PLANTM

 Section 1. Purpose: 
 By execution of the Adoption Agreement, the Employer has adopted the Plan set forth herein to provide a means by which certain management Employees and
Independent Contractors of the Employer may elect to defer receipt of current Compensation from the Employer in order to provide Retirement and other benefits on behalf of such Employees and Independent Contractors. The Plan is not intended to be a
tax-qualified retirement plan under Section 401(a) of the Internal Revenue Code (the “Code”). The Plan is intended to be an unfunded plan maintained primarily for the purpose of providing deferred compensation benefits for a select
group of management or highly compensated Employees under Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974. 
 Section 2. Definitions: 
 As used in the Plan, including this Section 2,
references to one gender shall include the other and, unless otherwise indicated by the context: 
 2.1 “Accrued Benefit”
shall mean, with respect to each Participant, the balance credited to his Deferred Compensation Account. 
 2.2 “Active
Participant” shall mean, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant who is in Service shall cease to be an Active Participant immediately upon a determination by the
Committee that the Participant has ceased to be an Employee or Independent Contractor. 
 2.3 “Adoption Agreement” shall
mean the written agreement pursuant to which the Employer adopts the Plan. The Adoption Agreement is a part of the Plan as applied to the Employer. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 2.4 “Adjustment Date” shall mean the date designated in the
Adoption Agreement for crediting the amount of any Salary Deferral Credits, Employer Matching Credits and Employer Performance Incentive Credits to each Deferred Compensation Account. 
  
 2.5 “Beneficiary” shall mean the person, persons, entity or entities designated or determined pursuant to
the provisions of Section 13 of the Plan. 
  
 2.6
“Board” shall mean the Board of Directors of the Employer, if the Employer is a corporation. If the Employer is not a corporation, “Board” shall mean the Employer. 
  
 2.7 “College Education Account” shall mean the separate account to be kept for each Participant and to be
divided into one or more Dependent Subaccounts, as described in Section 5.4. 
  
 2.8 “Committee” shall mean the administrative committee provided for in Section 9. 
  
 2.9 “Compensation” shall have the meaning designated in the Adoption Agreement. 
  
 2.10 “Deferred Compensation Account” shall mean the separate
account to be kept for each Participant, as described in Sections 3 and 8. To the extent applicable, the Deferred Compensation Account may be credited with Salary Deferral Credits, Employer Matching Credits and Employer Performance Incentive
Credits. 
  
 2.11 “Dependent Subaccount” shall
mean each separate subaccount to be kept for each Participant as part of his College Education Account, as described in Section 5.4. To the extent applicable, each Dependent Subaccount may be credited with Salary Deferral Credits, Employer
Matching Credits, and Employer Performance Incentive Credits. 
  
 2.12 “Disability” shall mean the inability of a Participant to perform his regular duties with the Employer or any other duties which the Employer is willing to assign to him by reason of any medically determinable physical
or mental impairment that can be expected 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
 to result in death or to be of long continued or indefinite duration. The determination of the existence or nonexistence of Disability shall be made by the Committee in
a nondiscriminatory manner pursuant to an examination by a medical doctor selected or approved by the Committee. 
 2.13 “Effective
Date” shall be the date designated in the Adoption Agreement as of which the Plan first becomes effective. 
 2.14 “Eligible
Dependent” shall mean any child (including any legally adopted child) of a Participant who has not attained age 18 and who the Participant designates as an Eligible Dependent in his Salary Deferral Agreement; provided, however, that the
Committee in its discretion may approve the designation of an individual other than the child of a Participant as an Eligible Dependent. 
 2.15 “Employee” shall mean an individual in the Service of the Employer if the relationship between the individual and the Employer is the legal relationship of employer and employee and if the individual is a highly
compensated or management employee of the Employer. An individual shall cease to be an Employee upon the first to occur of the following: (i) the Employee’s termination of Service; or (ii) a determination by the Committee that the
Employee no longer meets the eligibility requirements for participation in the Plan. 
 2.16 “Employer” shall mean the
Employer identified in the Adoption Agreement, and any Participating Employer which adopts this Plan. The Employer may be a corporation, a partnership or sole proprietorship. All references herein to the Employer shall be applied separately to each
such Employer as if the Plan were solely the Plan of that Employer. 
 2.17 “Employer Matching Credits” shall mean the
amounts credited to the Participant’s Deferred Compensation Account by the Employer pursuant to the provisions of Section 3.2. 
 2.18 “Employer Performance Incentive Credits” shall mean the amounts credited to the Participant’s Deferred Compensation Account by the Employer pursuant to the provisions of Section 3.3. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 2.19 “Independent Contractor” shall mean an individual in
the Service of the Employer if the relationship between the individual and the Employer is not the legal relationship of employer and employee. An individual shall cease to be an Independent Contractor upon the termination of the Independent
Contractor’s Service. An Independent Contractor shall include a director of the Employer who is not an Employee. 
  
 2.20 “Normal Retirement Age” of a Participant shall mean the age designated in the Adoption Agreement. The “Normal Retirement
Date” of a Participant shall mean the date the Participant attains his Normal Retirement Age. 
  
 2.21 “Participant” shall mean with respect to any Plan Year an Employee or Independent Contractor who has been designated by the
Committee as a Participant and who has entered the Plan or who has an Accrued Benefit under the Plan. An Employee or Independent Contractor designated by the Committee as a Participant who has not otherwise entered the Plan shall enter the Plan and
become a Participant as of the date determined by the Committee. A Participant who separates from Service with the Employer and who later returns to Service will not be eligible to defer Compensation under the Plan except upon satisfaction of such
terms and conditions as the Committee shall establish upon the Participant’s return to Service, whether or not the Participant shall have an Accrued Benefit remaining under the Plan on the date of his return to Service. 
  
 2.22 “Participating Employer” shall mean any trade or
business (whether or not incorporated) which adopts this Plan with the consent of the Employer identified in the Adoption Agreement. 
  
 2.23 “Plan” shall mean The Executive Nonqualified Excess Plan, as herein set out or as duly amended. The name of the Plan as applied to
the Employer shall be designated in the Adoption Agreement. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 2.24 “Plan Administrator” shall mean the person designated
in the Adoption Agreement. If the Plan Administrator designated in the Adoption Agreement is unable to serve, the Employer shall be the Plan Administrator. 
  
 2.25 “Plan Year” shall mean the twelve-month period ending on the last day of the month designated in the Adoption Agreement. 

 
 2.26 “Qualifying Distribution Event” shall mean the
Participant’s Retirement or the termination of Participant’s Service with the Employer for any reason, including as a result of his death or Disability. 
  
 2.27 “Regular In-Service Withdrawals Account” shall mean the separate account to be kept for each
Participant, as described in Section 5.1. To the extent applicable, the Regular In-Service Withdrawals Account may be credited with Salary Deferral Credits. 
  
 2.28 “Retire” or “Retirement” shall mean Retirement within the meaning of Section 4.4.

  
 2.29 “Salary Deferral Agreement” shall mean a
written agreement entered into between a Participant and the Employer pursuant to the provisions of Section 3. 
  
 2.30 “Salary Deferral Credits” shall mean the amounts credited to the Participant’s Deferred Compensation Account by the Employer
pursuant to the provisions of Section 3. 
  
 2.31
“Service” shall mean employment by the Employer as an Employee. If the Participant is an Independent Contractor, “Service” shall mean the period during which the contractual relationship exists between the Employer and the
Participant. 
  
 2.32 “Sponsor” shall mean
Executive Benefit Services, Inc. 
  
 2.33
“Spouse” or “Surviving Spouse” shall mean, except as otherwise provided in the Plan, the legally married spouse or surviving spouse of a Participant. 
  
 2.34 “Trust” shall mean the trust fund established pursuant to Section 10.2, if designated by the
Employer in the Adoption Agreement. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 2.35 “Trustee” shall mean the trustee, if any, named in the
agreement establishing the Trust and such successor or additional trustee as may be named pursuant to the terms of the agreement establishing the Trust. 
  
 2.36 “Years of Service” shall mean each Plan Year of Service completed by the Participant. For vesting purposes, Years of Service shall
be calculated from the date designated in the Adoption Agreement. 
  
 Section 3. Credits to Deferred Compensation Account: 
  
 3.1 Salary Deferral Credits: To the extent provided in the Adoption Agreement, each Active Participant may elect, by entering into a Salary Deferral Agreement with the Employer, to reduce his Compensation from
the Employer by a dollar amount or percentage specified in the Salary Deferral Agreement. The amount of the Participant’s Salary Reduction Credit shall be credited by the Employer to the Deferred Compensation Account maintained for the
Participant pursuant to Section 8. The following special provisions shall apply with respect to the Salary Deferral Credits of a Participant: 
  
 3.1.1 The Employer shall credit to the Participant’s Deferred Compensation Account on each Adjustment Date an amount equal to the
total Salary Reduction Credit for the period ending on such Adjustment Date. 
  
 3.1.2 An election pursuant to Section 3.1 shall be made by the Participant by executing and delivering a Salary Deferral Agreement to the Committee. The Salary Deferral Agreement shall become effective with
respect to such Participant as of the first full payroll period commencing on or immediately following the January 1 which occurs after the date such Salary Deferral Agreement is received by the Committee; provided, that a Participant who first
becomes a Participant in the Plan during a Plan Year may enter into a Salary Deferral Agreement to be effective as of the first payroll period next following the date he enters the Plan. A Participant’s election shall continue in effect, unless
earlier modified by the Participant, until the Service of the Participant is terminated, or, if earlier, until the Participant ceases to be an Active Participant under the Plan. 
  
 3.1.3 A Participant may unilaterally modify a Salary Deferral Agreement (either to increase or decrease the
portion of his future Compensation which is subject to salary deferral within the percentage limits set forth in Section 3.1) by 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 providing a written modification of the Salary Deferral Agreement to the
Employer. The modification shall become effective as of the first full payroll period commencing on or immediately following the January 1 which occurs after the date such written modification is received by the Committee. The Participant may
terminate the Salary Deferral Agreement effective as of the date designated in the Adoption Agreement. 
  
 3.1.4 The Committee may from time to time establish policies or rules governing the manner in which Salary Deferral Credits may be made.

  
 3.2 Employer Matching Credits: If designated by the
Employer in the Adoption Agreement, as of each Adjustment Date, the Employer shall cause the Committee to credit to the Deferred Compensation Account of each Participant an Employer matching credit in accordance with the Adoption Agreement.

  
 3.3 Employer Performance Incentive Credits: If
designated by the Employer in the Adoption Agreement, the Employer may credit to the Plan for such Plan Year any amount as the Board in its discretion shall determine. The Committee shall have the discretion to credit to the Deferred Compensation
Account of each Active Participant an amount of the Employer Performance Incentive Credit for the Plan Year as directed by the Employer. 
  
 Section 4. Qualifying Distribution Events: 
  
 4.1 Death of a Participant: If a Participant dies while in Service, the Employer shall pay a benefit to the
Participant’s Beneficiary in the amount designated in the Adoption Agreement. Payment of such benefit shall be made by the Employer pursuant to Section 6. If a Participant dies following his Retirement or termination of Service for any
reason, including Disability, and before all payments to him under the Plan have been made, the balance of the Participant’s vested Accrued Benefit shall be paid by the Employer to the Participant’s Beneficiary pursuant to Section 6,
and such balance shall be determined as of the commencement date of the payments. 
  
 4.2 Disability: If a Participant suffers a Disability while in Service prior to his Normal Retirement Date, he shall terminate Service with the Employer as of the date of the 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 establishment of his Disability, whereupon he shall commence receiving payment of his vested
Accrued Benefit, determined as of the commencement date of the payments. Such benefit shall be paid by the Employer as provided in Section 6. 
  
 4.3 Termination of Service: If the Service of a Participant with the Employer shall be terminated for any reason other than Retirement, Disability
or death, his vested Accrued Benefit shall be paid to him by the Employer as provided in Section 6, and such 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 Accrued Benefit shall be determined as of the commencement date of the payments. If a
Participant’s Accrued Benefit is not fully vested at his termination of employment, he shall forfeit that portion of his Accrued Benefit that is not fully vested. If he subsequently returns to Service with the Employer, he shall be treated as a
new Participant for purposes of determining the vested portion of his Accrued Benefit. 
  
 4.4 Retirement: 
  
 4.4.1 Normal Retirement: A Participant who is in Service shall be eligible to Retire from Service at his Normal Retirement Date and commence receiving payment of his Accrued Benefit, determined as of the commencement date of the
payments. Payment of such benefit shall be made by the Employer pursuant to Section 6. 
  
 4.4.2 Early Retirement: If so designated by the Employer in the Adoption Agreement, and subject to the requirements for early
retirement set forth therein, a Participant may elect early retirement effective on any date prior to his Normal Retirement Date by filing 30 days’ written notice with the Committee before such date. The Participant shall commence receiving
payment of his Accrued Benefit determined as of the commencement date of the payments. Such benefit shall be paid by the Employer as provided in Section 6. 
  
 4.4.3 Delayed Retirement: If a Participant shall remain in Service following his Normal Retirement
Date, his Retirement date shall be the date he actually terminates Service for reasons other than death or Disability, whereupon he shall commence receiving payment of his Accrued Benefit, determined as of the commencement date of the payments.
Payment of such benefit shall be made by the Employer pursuant to Section 6. During the period that such Participant remains in Service pursuant to this Section 4.4.3, he shall continue to be a Participant for each Plan Year in which he
meets the requirements therefor. If an Employee or Independent Contractor not otherwise a Participant becomes eligible to enter the Plan following his Normal Retirement Date, the provisions of this Section 4.4.3 shall apply in determining his
Retirement date. 
  
 Section 5. In-Service
Withdrawals: 
  
 5.1 Regular In-Service Withdrawals:
If the Employer designates in the Adoption Agreement that regular in-service withdrawals shall be permitted under the Plan, a 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 Participant may make an irrevocable election in the Salary Deferral Agreement to withdraw a
designated amount from his Deferred Compensation Account at the specified time or times designated by the Participant in the Salary Deferral Agreement, and the Participant’s Regular In-Service Withdrawals Account shall be credited in an amount
equal to the amount so designated for regular in-service withdrawals. The following special provisions shall apply with respect to the regular in-service withdrawals: 
  
 5.1.1 The Regular In-Service Withdrawals Account shall be established, adjusted for payments, credited with
Salary Deferral Credits, Employer Matching Credits, and Employer Performance Incentive Credits, and credited or debited for deemed investment gains or losses in the same manner and at the same time as such adjustments are made to the Deferred
Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8. 
  
 5.1.2 Notwithstanding any provision in this Section 5 to the contrary, if Participant incurs a Qualifying Distribution Event prior to
the date on which the entire balance of his Regular In-Service Withdrawals Account has been distributed to him, then the balance in the Regular In-Service Withdrawals Account on the date of the Qualifying Distribution Event shall be combined with
the Participant’s Deferred Compensation Account and distributed to him in the same manner and at the same time as his Deferred Compensation Account is distributed to him under Section 6 and in accordance with the rules and elections in
effect under Section 6. 
  
 5.2 Financial Hardship
Withdrawals: A distribution of the Deferred Compensation Account may be made to a Participant on account of financial hardship, subject to the following provisions: 
  
 5.2.1 A Participant may, at any time prior to his Retirement or termination of Service for any reason,
including Disability, make application to the Committee to receive a distribution in a lump sum of all or a portion of the total vested amount credited to his Deferred Compensation Account (determined as of the date the distribution, if any, is made
under this Section 5.2) because of an unforeseeable emergency that results in severe financial hardship to the Participant. A distribution because of an unforeseeable emergency shall not exceed the amount required to meet the immediate
financial need created by the unforeseeable emergency and not otherwise reasonably available from other resources of the Participant. Examples of an unforeseeable emergency shall 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 include but shall not be limited to those financial needs arising on account
of a sudden or unexpected illness or accident of the Participant or of a dependent of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of
events beyond the control of the Participant. 
  
 5.2.2 The Participant’s request for a distribution on account of financial hardship must be made in writing to the Committee. The request must specify the nature of the financial hardship, the total amount requested to be distributed
from the Deferred Compensation Account, and the total amount of the actual expense incurred or to be incurred on account of financial hardship. 
  
 5.2.3 If a distribution under this Section 5.2 is approved by the Committee, such distribution will be made as soon as practicable
following the date it is approved. The processing of the request shall be completed as soon as practicable from the date on which the Committee receives the properly completed written request for a distribution on account of a financial hardship. If
a Participant’s termination of Service occurs after a request is approved in accordance with this Section 5.2.3, but prior to distribution of the full amount approved, the approval of the request shall be automatically null and void and
the benefits which the Participant is entitled to receive under the Plan shall be distributed in accordance with the applicable distribution provisions of the Plan. Only one financial hardship distribution shall be made within any Plan Year.

  
 5.2.4 The Committee may from time to time
adopt additional policies or rules governing the manner in which such distributions may be made so that the Plan may be conveniently administered. 
  
 5.3 “Haircut” Withdrawals: If the Employer designates in the Adoption Agreement that “haircut” withdrawals shall be permitted
under the Plan, a Participant in Service may at his option make one or more withdrawals from his Deferred Compensation Account by written request to the Committee; provided, however, that a Participant who requests a withdrawal under this
Section 5.3 shall incur a penalty (the “haircut”) equal to a percentage (not less than 10%), as designated by the Employer in the Adoption Agreement, of the amount withdrawn, and this penalty shall be forfeited from the Deferred
Compensation Account of the Participant notwithstanding the provisions of Section 7. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 5.4 College Education Withdrawals: If the Employer designates in the
Adoption Agreement that college education withdrawals shall be permitted under the Plan, a Participant may elect in the Salary Deferral Agreement for a designated percentage or dollar amount of the Salary Deferral Credits to be credited to a College
Education Account to be used to fund the college education of the Participant’s Eligible Dependent or Eligible Dependents. The College Education Account shall be divided into Dependent Subaccounts for each of the Participant’s Eligible
Dependents, and the Participant may designate in the Salary Deferral Agreement the percentage or dollar amount of each Salary Deferral Credit to be credited to each Dependent Subaccount; provided, however, that the minimum credit that a Participant
may elect to make to any Dependent Subaccount is $1,000. In the absence of a clear designation, all credits made to the College Education Subaccount shall be equally allocated to each Dependent Subaccount. As soon as practicable after an Eligible
Dependent of the Participant attains age 18, the Employer shall pay to the Participant the balance in the Dependent Subaccount with respect to such Eligible Dependent in annual installments over a period of four, five or six years, as designated by
the Participant in the Salary Deferral Agreement. The following special provisions shall apply with respect to the Dependent Subaccounts: 
  
 5.4.1 The Dependent Subaccounts shall be established, adjusted for payments, credited with Salary Deferral Credits, Employer Matching
Credits, and Employer Performance Incentive Credits, and credited or debited for deemed investment gains or losses in the same manner and at the same time as such adjustments are made to the Deferred Compensation Account under Section 8 and in
accordance with the rules and elections in effect under Section 8. 
  
 5.4.2 Notwithstanding any provision in this Section 5 to the contrary, if Participant incurs a Qualifying Distribution Event prior to the date on which the entire balance of his College Education Account has been
distributed to him, then the balance in the College Education Account on the date of the Qualifying Distribution Event shall be combined with the Participant’s Deferred Compensation Account and distributed to him in the same manner and at the
same time as his Deferred Compensation Account is distributed to him under Section 6 and in accordance with the rules and elections in effect under Section 6. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 Section 6. Qualifying Distribution Events Payment
Options: 
  
 6.1 Payment Options: The Employer
shall designate in the Adoption Agreement the payment options available upon a Qualifying Distribution Event. Upon a Participant’s entry into the Plan, the Participant shall elect among these designated payment options the method under which
his vested Accrued Benefit or, in the event of his death, any benefit payable as a result, will be distributed; provided, however, that the Participant may change the method of payment with the consent of the Committee by filing a written election
with the Committee at least one year prior to the commencement date of the payments. 
  
 6.2 Prepayment: Notwithstanding any other provisions of this Plan, if a Participant or any other person (a “recipient”) is entitled to receive payments under the Plan, the Committee in its sole
discretion may direct the Employer to prepay all or any part of the payments remaining to be made to or on behalf of the recipient, or to shorten the payment period. The amount of such prepayment shall be in full satisfaction of the Employer’s
obligations hereunder to the recipient and to all persons claiming under or through the recipient with respect to the payments being prepaid. In the event of a partial prepayment, the Committee shall designate which installments are being prepaid
and, if applicable, the accounts of the Participant from which such prepayments shall be debited. The Committee’s determinations under this Section 6.2 shall be final and conclusive upon all parties claiming benefits under this Plan.

  
 6.3 Benefit Exchange: Notwithstanding any other
provisions of this Plan, the Employer and the Participant may enter into an agreement under which, in lieu of the payment of the Participant’s vested Accrued Benefit upon a Qualifying Distribution Event, the Participant’s vested Accrued
Benefit will be exchanged for another nonqualified benefit in accordance with rules established by the Committee. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 Section 7. Vesting:  
  
 A Participant shall be fully vested (that is, nonforfeitable) in the portion
of his Deferred Compensation Account attributable to Salary Deferral Credits, and all income, gains and losses attributable thereto. A Participant shall become fully vested in the portion of his Deferred Compensation Account attributable to Employer
Matching Credits, Employer Performance Incentive Credits, and income, gains and losses attributable thereto, on the first to occur of: (i) normal Retirement; (ii) Early Retirement; (iii) death while in Service; or (iv) in
accordance with the vesting schedule and provisions designated by the Employer in the Adoption Agreement. 
  
 Section 8. Account; Deemed Investment; Adjustment of Accounts: 
  
 8.1 Account: The Committee shall establish a book reserve account, entitled the “Deferred Compensation
Account,” on behalf of each Participant. Such account shall be adjusted pursuant to the provisions of Section 8.3. 
  
 8.2 Deemed Investments: The Deferred Compensation Account of a Participant shall be credited with an investment return determined as if the account
were invested in one or more investment funds made available by the Committee. The Participant shall elect the investment funds in which his Deferred Compensation Account shall be deemed to be invested. Such election shall be made in the manner
prescribed by the Committee and shall take effect upon the entry of the Participant into the Plan. The investment election of the Participant shall remain in effect until a new election is made by the Participant. In the event the Participant fails
for any reason to make an effective election of the investment return to be credited to his account, the investment return shall be determined by the Committee. 
  

8.3 Adjustments to Deferred Compensation Accounts: With respect to each Participant who has a Deferred Compensation Account under the Plan, the
amount credited 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 to such account shall be adjusted by the following debits and credits, at the times and in
the order stated: 
  
 8.3.1 The Deferred
Compensation Account shall be debited each business day with the total amount of any payments made from such account since the last preceding business day to him or for his benefit. 
  
 8.3.2 The Deferred Compensation Account shall be credited on each Adjustment Date with the total amount of
any Salary Deferral Credits, Employer Matching Credits and Employer Performance Incentive Credits to such account since the last preceding Adjustment Date. 
  
 8.3.3 The Deferred Compensation Account shall be credited or debited on each day securities are traded on a national stock exchange with
the amount of deemed investment gain or loss resulting from the performance of the investment funds elected by the Participant in accordance with Section 8.2. The amount of such deemed investment gain or loss shall be determined by the
Committee and such determination shall be final and conclusive upon all concerned. 
  
 Section 9. Administration by Committee: 
  
 9.1 Membership of Committee: The Committee shall consist of at least three individuals who shall be appointed by the Board to serve at the pleasure
of the Board. Any member of the Committee may resign, and his successor, if any, shall be appointed by the Board. The Committee shall be responsible for the general administration and interpretation of the Plan and for carrying out its provisions,
except to the extent all or any of such obligations are specifically imposed on the Board. 
  
 9.2 Committee officers; Subcommittee: The members of the Committee shall elect a Chairman and may elect an acting Chairman. They shall also elect a Secretary and may elect an acting Secretary, either of whom
may be but need not be a member of the Committee. The Committee may appoint from its membership such subcommittees with such powers as the Committee shall determine, and may authorize one or more of its members or any agent to execute or deliver any
instruments or to make any payment on behalf of the Committee. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 9.3 Committee meetings: The Committee shall hold such meetings upon
such notice, at such places and at such intervals as it may from time to time determine. Notice of meetings shall not be required if notice is waived in writing by all the members of the Committee at the time in office, or if all such members are
present at the meeting. 
  
 9.4 Transaction of business: A
majority of the members of the Committee at the time in office shall constitute a quorum for the transaction of business. All resolutions or other actions taken by the Committee at any meeting shall be by vote of a majority of those present at any
such meeting and entitled to vote. Resolutions may be adopted or other action taken without a meeting upon written consent thereto signed by all of the members of the Committee. 
  
 9.5 Committee records: The Committee shall maintain full and complete records of its deliberations and decisions. The
minutes of its proceedings shall be conclusive proof of the facts of the operation of the Plan. 
  
 9.6 Establishment of rules: Subject to the limitations of the Plan, the Committee may from time to time establish rules or by-laws for the
administration of the Plan and the transaction of its business. 
  
 9.7 Conflicts of interest: No individual member of the Committee shall have any right to vote or decide upon any matter relating solely to himself or to any of his rights or benefits under the Plan (except that such member may sign
unanimous written consent to resolutions adopted or other action taken without a meeting), except relating to the terms of his Salary Deferral Agreement. 
  
 9.8 Correction of errors: The Committee may correct errors and, so far as practicable, may adjust any benefit or credit or payment accordingly. The
Committee may in its discretion waive any notice requirements in the Plan; provided, that a waiver of notice in one or more cases shall not be deemed to constitute a waiver of notice in any other case. With respect to any power or authority which
the Committee has discretion to exercise under the Plan, such discretion shall be exercised in a nondiscriminatory manner. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 9.9 Authority to interpret Plan: Subject to the claims procedure set
forth in Section 16, the Plan Administrator and the Committee shall have the duty and discretionary authority to interpret and construe the provisions of the Plan and to decide any dispute which may arise regarding the rights of Participants
hereunder, including the discretionary authority to construe the Plan and to make determinations as to eligibility and benefits under the Plan. Determinations by the Plan Administrator and the Committee shall apply uniformly to all persons similarly
situated and shall be binding and conclusive upon all interested persons. 
  
 9.10 Third party advisors: The Committee may engage an attorney, accountant, actuary or any other technical advisor on matters regarding the operation of the Plan and to perform such other duties as shall be
required in connection therewith, and may employ such clerical and related personnel as the Committee shall deem requisite or desirable in carrying out the provisions of the Plan. The Committee shall from time to time, but no less frequently than
annually, review the financial condition of the Plan and determine the financial and liquidity needs of the Plan. The Committee shall communicate such needs to the Employer so that its policies may be appropriately coordinated to meet such needs.

  
 9.11 Compensation of members: No fee or compensation
shall be paid to any member of the Committee for his Service as such. 
  
 9.12 Expense reimbursement: The Committee shall be entitled to reimbursement by the Employer for its reasonable expenses properly and actually incurred in the performance of its duties in the administration of the Plan. 

 
 9.13 Indemnification: No member of the Committee shall be
personally liable by reason of any contract or other instrument executed by him or on his behalf as a member of the Committee nor for any mistake of judgment made in good faith, and the Employer shall indemnify and hold harmless, directly from its
own assets (including the proceeds of any 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 insurance policy the premiums for which are paid from the Employer’s own assets), each
member of the Committee and each other officer, employee, or director of the Employer to whom any duty or power relating to the administration or interpretation of the Plan may be delegated or allocated, against any unreimbursed or uninsured cost or
expense (including any sum paid in settlement of a claim with the prior written approval of the Board) arising out of any act or omission to act in connection with the Plan unless arising out of such person’s own fraud, bad faith, willful
misconduct or gross negligence. 
  
 Section 10.
Contractual Liability; Trust: 
  
 10.1 Contractual
Liability: The obligation of the Employer to make payments hereunder shall constitute a contractual liability of the Employer to the Participant. Such payments shall be made from the general funds of the Employer, and the Employer shall not be
required to establish or maintain any special or separate fund, or otherwise to segregate assets to assure that such payments shall be made, and the Participant shall not have any interest in any particular assets of the Employer by reason of its
obligations hereunder. To the extent that any person acquires a right to receive payment from the Employer, such right shall be no greater than the right of an unsecured creditor of the Employer. 
  
 10.2 Trust: If so designated in Section 2.34 of the Adoption
Agreement, the Employer may establish a Trust with the Trustee, pursuant to such terms and conditions as are set forth in the Trust Agreement. The Trust, if and when established, is intended to be treated as a grantor trust for purposes of the Code.
The establishment of the Trust is not intended to cause Participants to realize current income on amounts contributed thereto, and the Trust shall be so interpreted and administered. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 Section 11. Allocation of Responsibilities:

  
 The persons responsible for the Plan and the duties and
responsibilities allocated to each are as follows: 
  
 11.1
Board: 
  
 (i) To amend the Plan; 

 
 (ii) To appoint and remove members of the Committee; and

  
 (iii) To terminate the Plan. 
  
 11.2 Committee:  
  
 (i) To designate Participants; 
  
 (ii) To interpret the provisions of the Plan and to
determine the rights of the Participants under the Plan, except to the extent otherwise provided in Section 16 relating to claims procedure; 
  
 (iii) To administer the Plan in accordance with its terms, except to the extent powers to administer the Plan are specifically delegated
to another person or persons as provided in the Plan; 
  
 (iv) To account for the Accrued Benefits of Participants; and 
  
 (v) To direct the Employer in the payment of benefits. 
  
 11.3 Plan Administrator: 
  
 (i) To file such reports as may be required with the United States Department of Labor, the Internal Revenue Service and any other government agency to which reports may be required to be submitted from time to time;
and 
  
 (ii) To administer the claims procedure
to the extent provided in Section 16. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
 Section 12. Benefits Not Assignable; Facility of Payments: 
 12.1 Benefits not assignable: No portion of any benefit credited or paid under the Plan with respect to any Participant shall be subject in any
manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the same shall be void, nor shall any portion of such
benefit be in any manner payable to any assignee, receiver or any one trustee, or be liable for his debts, contracts, liabilities, engagements or torts. 
 12.2 Payments to minors and others: If any individual entitled to receive a payment under the Plan shall be physically, mentally or legally incapable of receiving or acknowledging receipt of such payment, the
Committee, upon the receipt of satisfactory evidence of his incapacity and satisfactory evidence that another person or institution is maintaining him and that no guardian or committee has been appointed for him, may cause any payment otherwise
payable to him to be made to such person or institution so maintaining him. Payment to such person or institution shall be in full satisfaction of all claims by or through the Participant to the extent of the amount thereof. 
 Section 13. Beneficiary: 
 The Participant’s beneficiary shall be the person or persons designated by the Participant on the beneficiary designation form provided by and filed with the Committee or its designee. If the Participant does not designate a
beneficiary, the beneficiary shall be his Surviving Spouse. If the Participant does not designate a beneficiary and has no Surviving Spouse, the beneficiary shall be the Participant’s estate. The designation of a beneficiary may be changed or
revoked only by filing a new beneficiary designation form with the Committee or its designee. If a beneficiary (the “primary beneficiary”) is receiving or is entitled to receive payments under the Plan and dies before receiving all of the
payments due him, the balance to which he is entitled shall be paid to the contingent beneficiary, if any, named in the Participant’s current beneficiary designation form. If there is no contingent beneficiary, the balance shall be 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 paid to the estate of the primary beneficiary. Any beneficiary may disclaim all or any part
of any benefit to which such beneficiary shall be entitled hereunder by filing a written disclaimer with the Committee before payment of such benefit is to be made. Such a disclaimer shall be made in a form satisfactory to the Committee and shall be
irrevocable when filed. Any benefit disclaimed shall be payable from the Plan in the same manner as if the beneficiary who filed the disclaimer had died on the date of such filing. 
  
 Section 14. Amendment and Termination of Plan: 
  
 The Board may amend any provision of the Plan or terminate the Plan at any
time; provided, that in no event shall such amendment or termination reduce any Participant’s Accrued Benefit as of the date of such amendment or termination, nor shall any such amendment affect the terms of the Plan relating to the payment of
such Accrued Benefit. 
  
 Notwithstanding the foregoing, the Plan
shall be terminated upon the occurrence of one or more of the events designated in the Adoption Agreement. Upon the occurrence of a termination event, the Accrued Benefit of each Participant shall become fully vested and payable to the Participant
in a lump sum. 
  
 Section 15. Communication to
Participants: 
  
 The Employer shall make a copy of the
Plan available for inspection by Participants and their beneficiaries during reasonable hours at the principal office of the Employer. 
  
 Section 16. Claims Procedure: 
  
 The following claims procedure shall apply with respect to the Plan: 
  
 16.1 Filing of a claim for benefits: If a Participant or beneficiary (the “claimant”) believes that he is
entitled to benefits under the Plan which are not being paid to him or which are not being accrued for his benefit, he shall file a written claim therefor with the Plan Administrator. In the event the Plan Administrator shall be the claimant, all
actions which are required to be taken by the Plan Administrator pursuant to this Section 16 shall be taken instead by another member of the Committee designated by the Committee. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 16.2 Notification to claimant of decision: Within 90 days after
receipt of a claim by the Plan Administrator (or within 180 days if special circumstances require an extension of time), the Plan Administrator shall notify the claimant of his decision with regard to the claim. In the event of such special
circumstances requiring an extension of time, there shall be furnished to the claimant prior to expiration of the initial 90-day period written notice of the extension, which notice shall set forth the special circumstances and the date by which the
decision shall be furnished. If such claim shall be wholly or partially denied, notice thereof shall be in writing and worded in a manner calculated to be understood by the claimant, and shall set forth: (i) the specific reason or reasons for
the denial; (ii) specific reference to pertinent provisions of the Plan on which the denial is based; (iii) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why
such material or information is necessary; and (iv) an explanation of the procedure for review of the denial. If the Plan Administrator fails to notify the claimant of the decision in timely manner, the claim shall be deemed denied as of the
close of the initial 90-day period (or the close of the extension period, if applicable). 
  
 16.3 Procedure for review: Within 60 days following receipt by the claimant of notice denying his claim, in whole or in part, or, if such notice shall not be given, within 60 days following the latest date on
which such notice could have been timely given, the claimant shall appeal denial of the claim by filing a written application for review with the Committee. Following such request for review, the Committee shall fully and fairly review the decision
denying the claim. Prior to the decision of the Committee, the claimant shall be given an opportunity to review pertinent documents and to submit issues and comments in writing. 

 16.4 Decision on review: The decision on review of a claim denied in whole or in part by the Plan
Administrator shall be made in the following manner: 
  
 16.4.1 Within 60 days following receipt by the Committee of the request for review (or within 120 days if special circumstances require an extension of time), the Committee shall notify the claimant in writing of its decision with regard to
the claim. In the event of such special circumstances requiring an extension of time, written notice of the extension shall be furnished to the claimant prior to the commencement of the extension. If the decision on review is not furnished in a
timely manner, the claim shall be deemed denied as of the close of the initial 60-day period (or the close of the extension period, if applicable). 
  
 16.4.2 With respect to a claim that is denied in whole or in part, the decision on review shall set forth specific reasons for the
decision, shall be written in a manner calculated to be understood by the claimant, and shall cite specific references to the pertinent Plan provisions on which the decision is based. 
  
 16.4.3 The decision of the Committee shall be final and conclusive. 
  
 16.5 Action by authorized representative of claimant: All actions set
forth in this Section 16 to be taken by the claimant may likewise be taken by a representative of the claimant duly authorized by him to act in his behalf on such matters. The Plan Administrator and the Committee may require such evidence as
either may reasonably deem necessary or advisable of the authority to act of any such representative. 
  
 Section 17. Miscellaneous Provisions: 
  

17.1 Set off: Notwithstanding any other provision of this Plan, the Employer may reduce the amount of any payment otherwise payable to or on
behalf of a Participant hereunder by the amount of any loan, cash advance, extension of credit or other obligation of the Participant to the Employer that is then due and payable, and the Participant shall be deemed to have consented to such
reduction. 
  
 17.2 Notices : Each Participant who is not
in Service and each beneficiary shall be responsible for furnishing the Committee or its designee with his current address for the mailing of notices and benefit payments. Any notice required or permitted to be given to such Participant or
beneficiary shall be deemed given if directed to such address and mailed by regular United States mail, first class, postage prepaid. If any check mailed to such address is 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 returned as undeliverable to the addressee, mailing of checks will be suspended until the
Participant or beneficiary furnishes the proper address. This provision shall not be construed as requiring the mailing of any notice or notification otherwise permitted to be given by posting or by other publication. 
  
 17.3 Lost distributees: A benefit shall be deemed forfeited if the
Plan Administrator is unable to locate the Participant or beneficiary to whom payment is due on or before the fifth anniversary of the date payment is to be made or commence; provided, that the deemed investment rate of return pursuant to
Section 8.2 shall cease to be applied to the Participant’s account following the first anniversary of such date; provided further, however, that such benefit shall be reinstated if a valid claim is made by or on behalf of the Participant
or beneficiary for all or part of the forfeited benefit. 
  
 17.4 Reliance on data: The Employer, the Committee and the Plan Administrator shall have the right to rely on any data provided by the Participant or by any beneficiary. Representations of such data shall be binding upon any party
seeking to claim a benefit through a Participant, and the Employer, the Committee and the Plan Administrator shall have no obligation to inquire into the accuracy of any representation made at any time by a Participant or beneficiary. 
  
 17.5 Receipt and release for payments: Subject to the provisions of
Section 17.1, any payment made from the Plan to or with respect to any Participant or beneficiary, or pursuant to a disclaimer by a beneficiary, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Plan and
the Employer with respect to the Plan. The recipient of any payment from the Plan may be required by the Committee, as a condition precedent to such payment, to execute a receipt and release with respect thereto in such form as shall be acceptable
to the Committee. 
  
 17.6 Headings: The headings and
subheadings of the Plan have been inserted for convenience of reference and are to be ignored in any construction of the provisions hereof. 

 Exhibit 10.22 – 401 Plus Non-Qualified Deferred Compensation Plan 
  
 17.7 Continuation of employment: The establishment of the Plan shall
not be construed as conferring any legal or other rights upon any Employee or any persons for continuation of employment, nor shall it interfere with the right of the Employer to discharge any Employee or to deal with him without regard to the
effect thereof under the Plan. 
  
 17.8 Merger or
consolidation: No employer-party to the Plan shall consolidate or merge into or with another corporation or entity, or transfer all or substantially all of its assets to another corporation, partnership, trust or other entity (a “Successor
Entity”) unless such Successor Entity shall assume the rights, obligations and liabilities of the employer-party under the Plan and upon such assumption, the Successor Entity shall become obligated to perform the terms and conditions of the
Plan. 
  
 17.9 Construction: The Employer shall designate
in the Adoption Agreement the state according to whose laws the provisions of the Plan shall be construed and enforced, except to the extent that such laws are superseded by ERISA.

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