SEC Contract Filing

Filing Date: 2024-02-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
<DESCRIPTION>THIRD AMENDMENT TO SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
<TEXT>
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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="muncy_8k-021324.htm">Muncy Columbia Financial Corporation 8-K</A></FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THIRD AMENDMENT TO </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Supplemental
Executive Retirement Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS THIRD AMENDMENT (the
&ldquo;Amendment&rdquo;) is made and entered into as of the 13th day of February, 2024, by and between Journey Bank (successor by merger
to The Muncy Bank and Trust Company) (the &ldquo;Company&rdquo;), and Robert Glunk (the &ldquo;Executive&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and the Executive
entered into a Supplemental Executive Retirement Plan dated May 17, 2016, as amended by that certain First Amendment dated July 28, 2016
and that certain Second Amendment dated May 21, 2019 (together, the &quot;Agreement&quot;), which provides deferred compensation benefits
to the Executive under the circumstances described therein. The Company and the Executive now wish to further amend the Agreement by the
execution and delivery of this Third Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Now, therefore, the Employer
and the Executive agree as follows and adopt the following amendments to the Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 1.16 of the Agreement
shall be deleted in its entirety and replaced by the following:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;Normal
Retirement Age&rdquo;</I> means the date the Executive attains age sixty-three (63).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>The Schedule A attached
to the above-referenced Second Amendment to the Agreement shall be replaced with the attached Schedule A. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Executive
and a duly authorized representative of the Company have executed this Third Amendment.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
 <TD>Executive:</TD>
 <TD>&nbsp;</TD>
 <TD COLSPAN="2">Company:</TD>
 <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
 <TD STYLE="width: 45%">&nbsp;</TD>
 <TD STYLE="width: 5%">&nbsp;</TD>
 <TD STYLE="width: 3%">&nbsp;</TD>
 <TD STYLE="width: 42%">&nbsp;</TD>
 <TD STYLE="width: 5%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
 <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert J. Glunk</TD>
 <TD>&nbsp;</TD>
 <TD>By:</TD>
 <TD STYLE="border-bottom: Black 1pt solid">/s/ Lance O. Diehl</TD>
 <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
 <TD STYLE="padding-left: 0.19in">Robert Glunk</TD>
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="padding-left: 0.19in">Lance O. Diehl, President and<BR>
Chief Executive Officer</TD>
 <TD>&nbsp;</TD></TR>
</TABLE>

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