Exhibit 10.8
FIRST AMENDMENT
OF
FEDERAL HOME LOAN BANK OF
INDIANAPOLIS
2005 SUPPLEMENTAL EXECUTIVE
RETIREMENT PLAN
(Amended and Restated
Generally Effective as of January 1, 2008)
WHEREAS, the Federal Home Loan Bank
of Indianapolis (the “Bank”) maintains the Federal Home
Loan Bank of Indianapolis 2005 Supplemental Executive Retirement
Plan (Amended and Restated Generally Effective as of
January 1, 2008) (the “2005 SERP”); and
WHEREAS, pursuant to Article VIII of
the 2005 SERP, the Bank has reserved the right to amend the 2005
SERP by action of its Board of Directors; and
WHEREAS, the Bank has determined
that the 2005 SERP should be amended to limit the benefit payable
under the 2005 SERP with respect to a participant who has service
credited under the Comprehensive Retirement Program of the
Financial Institutions Retirement Fund (the “Retirement
Plan”) other than as an employee of the Bank and has also
determined that to eliminate administrative complexity and to
approximate the result of calculating the benefit that would be
payable under the Retirement Plan taking into consideration only
the service performed as an employee of the Bank, the benefit
otherwise calculated under the 2005 SERP will be multiplied by the
ratio of the participant’s service with the Bank to his total
service credited under the Retirement Plan; and
WHEREAS, the Board of Directors of
the Bank has authorized an amendment to the 2005 SERP as set forth
below;
NOW, THEREFORE, pursuant to the
power reserved to the Bank under Article VIII of the 2005 SERP, the
2005 SERP is hereby amended, effective January 1, 2008, in the
following particulars:
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1.
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By adding the
following paragraph to the end of Sections 3.1 and 3.2:
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“Notwithstanding the
above
