Exhibit 10.10
THIRD AMENDMENT
TO
THE LAPORTE SAVINGS BANK
SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
DATED AUGUST 1, 2002
AND AMENDED SEPTEMBER 8, 2003 AND FEBRUARY 27, 2004
FOR
RUSS KLOSINSKI
THIS THIRD AMENDMENT is adopted this 23rd day of September, 2008, effective as of January 1, 2005, by and between
THE LAPORTE SAVINGS BANK, a state-chartered savings bank located in LaPorte, Indiana (the “Company”), and RUSS
KLOSINSKI (the “Executive”).
The Company and the Executive executed the Supplemental Executive Retirement Agreement effective as of August 1,
2002, and amended on September 8, 2003 and February 27, 2004 (the “Agreement”).
The undersigned hereby amend the Agreement for the purpose of bringing the Agreement into compliance with
Section 409A of the Internal Revenue Code. Therefore, the following changes shall be made:
Section 1.3 of the Agreement shall be deleted in its entirety and replaced by the following:
Section 1.5 of the Agreement shall be deleted in its entirety and replaced by the following:
1
1.3
“ Change of Control ” means a change in the ownership or effective control of the Company, or in the ownership of a
substantial portion of the assets of the Company, as such change is defined in Section 409A of the Code and regulations
thereunder.
1.5
“ Disability ” means the Executive: (i) is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months; or (ii) is, by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less
than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an
accident and health plan covering employees or directors of the Company. Medical determination of Disability m