2016 Amendment to Director Deferred Fee Agreement between The Ohio Valley Bank Company and Steven B. Chapman

Summary

This agreement, dated December 13, 2016, is between The Ohio Valley Bank Company and director Steven B. Chapman. It amends the definition of "Fees" in their existing Deferred Fee Agreement, specifying which types of director compensation are eligible for deferral starting January 1, 2017. Only the annual board retainer, monthly director fees, and executive committee fees are included, while other fees such as lead director or special committee fees are excluded. Both parties agree to these updated terms for future deferrals.

EX-10.19 9 sec10k123116_ex10-19.htm 2016 DETERMINATION OF DIRECTOR'S DEFERRED FEE AGREEMENT

EXHIBIT 10.19

2016 DETERMINATION OF DIRECTOR'S FEES

FOR PURPOSES OF THE DIRECTOR DEFERRED FEE AGREEMENT

FOR STEVEN B. CHAPMAN

THIS AGREEMENT is made this 13th day of December, 2016, by and between THE OHIO VALLEY BANK COMPANY located in Gallipolis, Ohio (the "Company"), and Steven B. Chapman (the "Director").

The Company and the Director entered into a DEFERRED FEE AGREEMENT most recently amended on December 18, 2012 (the "Agreement").

The Director agrees that the definition of "Fees" in Section 1.10 be amended to read as follows effective for deferrals on or after January 1, 2017:

1.10 "Fees" means the total annual board retainer, monthly fees paid to all directors and executive committee fees, earned by the Director during a Plan Year. For purposes of clarity, Fees does not include any lead director fees, committee meeting or chair fees (other than the included executive committee fees) or other special director fees.

The parties, by executing this Agreement hereby agree to the terms stated herein.

DIRECTOR:		THE OHIO VALLEY BANK COMPANY


		By:
Steven B. Chapman		Title: