Director Retirement Plan Agreement and Fee Determination for David W. Thomas between The Ohio Valley Bank Company and David W. Thomas
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Summary
This agreement, dated March 2, 2010, is between The Ohio Valley Bank Company and David W. Thomas. It clarifies how director fees are calculated for Mr. Thomas under the existing Director Retirement Plan Agreement. The agreement specifies that only regular director fees and the annual retainer are included in retirement benefit calculations, while additional fees for serving as Lead Director are excluded. Both parties agree to these terms regarding the payment of retirement and related benefits.
EX-10.4B 6 sec10k123112_10-4b.htm EXHIBIT 10.4B DETERMINATION OF DIR FEES 12/31/12 sec10k123112_10-4b.htm
EXHIBIT 10.4(b)
DETERMINATION OF DIRECTOR’S FEES
DIRECTOR RETIREMENT PLAN AGREEMENT
AND PAYMENT OF BENEFITS
FOR
DAVID W. THOMAS
THIS AGREEMENT is made this 2nd day of March, 2010, by and between THE OHIO VALLEY BANK COMPANY located in Gallipolis, Ohio (the “Company”), and DAVID W. THOMAS (the “Director”).
The Company and the Director entered into an AMENDED AND RESTATED DIRECTOR RETIREMENT PLAN AGREEMENT on December 28, 2007 (the “Agreement”).
The Director agrees that Director’s total annual or monthly fees in sections 2.1 Normal Retirement Benefit, 2.2 Disability Benefit, and 3.1 Death During Active Service will include the Independent or Non-Independent Directors’ Fees paid monthly plus the Annual Retainer (formerly called Annual Bonus) and will not include additional fees paid to said Director as Lead Director.
The parties, by executing this Agreement hereby agree to the terms stated herein.
DIRECTOR: OHIO VALLEY BANK COMPANY
By:
David W. Thomas Title: President and Chief Executive Officer
