EX-10.1



 Exhibit 10.1 
  

 
  

 
 BANK OF THE OZARKS, INC. 

2009 RESTRICTED STOCK AND INCENTIVE PLAN 

(As amended and restated effective May 19, 2014) 
  

 
  

 







 TABLE OF CONTENTS 
  

							
		 		  	 	Page	  
	 ARTICLE I

ESTABLISHMENT AND PURPOSE
	   
   

			
	Section 1.1.	 	Establishment	  	 	1	  
	Section 1.2.	 	Purpose	  	 	1	  
	
	ARTICLE II	  
	DEFINITIONS	  
			
	Section 2.1.	 	Definitions	  	 	1	  
	
	 ARTICLE III

ADMINISTRATION
	   
   

			
	Section 3.1.        	 	General	  	 	4	  
	Section 3.2.	 	Committee Meetings	  	 	4	  
	Section 3.3.	 	Powers of the Committee	  	 	5	  
	Section 3.4.	 	Grants to Committee Members	  	 	6	  
	Section 3.5.	 	Committee Decisions and Determinations	  	 	6	  
	
	 ARTICLE IV

ELIGIBILITY AND PARTICIPATION
	   
   

			
	Section 4.1.	 	Eligibility	  	 	6	  
	Section 4.2.	 	Participation	  	 	6	  
	
	ARTICLE V	  
	SHARES SUBJECT TO PLAN	  
			
	Section 5.1.	 	Available Shares	  	 	6	  
	Section 5.2.	 	Previously Granted Shares	  	 	6	  
	Section 5.3.	 	Adjustments	  	 	7	  
	Section 5.4.	 	Code Section 409A Limitation	  	 	7	  
	
	ARTICLE VI	  
	GRANTS IN GENERAL	  
			
	Section 6.1.	 	Agreement	  	 	7	  
	Section 6.2.	 	Time of Granting of an Award	  	 	7	  
	Section 6.3.	 	Term and Nontransferability of Grants	  	 	8	  
	Section 6.4.	 	Termination of Services	  	 	8	  
	Section 6.5.	 	Participation	  	 	8	  
	
	 ARTICLE VII

RESTRICTED STOCK
	   
   

			
	Section 7.1.	 	General	  	 	8	  
	Section 7.2.	 	Delivery	  	 	9	  
	Section 7.3.	 	Shareholder Rights	  	 	9	  
	Section 7.4.	 	Price	  	 	9	  
	Section 7.5.	 	Section 83(b) Election	  	 	9	  









							
	 ARTICLE VIII

RESTRICTED STOCK UNITS
	   
   

			
	Section 8.1.	 	General	  	 	9	  
	Section 8.2.	 	Rights	  	 	10	  
	
	 ARTICLE IX

PERFORMANCE AWARDS
	   
   

			
	Section 9.1.	 	Grant	  	 	10	  
	Section 9.2.	 	Terms and Conditions	  	 	10	  
	Section 9.3.	 	Payment of Performance Awards	  	 	10	  
	
	 ARTICLE X

PROVISIONS APPLICABLE TO COVERED OFFICERS
	   
   

			
	Section 10.1.	 	Covered Officers	  	 	11	  
	Section 10.2.	 	Performance Goals	  	 	11	  
	Section 10.3.	 	Limitations	  	 	12	  
	Section 10.4.	 	Terms and Conditions	  	 	12	  
	Section 10.5.	 	Compliance with Section 162(m)	  	 	13	  
	
	 ARTICLE XI

MISCELLANEOUS
	   
   

			
	Section 11.1.	 	Effect of a Change in Control	  	 	13	  
	Section 11.2	 	Rights as a Shareholder	  	 	13	  
	Section 11.3.	 	Modification, Extension and Renewal of Grants	  	 	13	  
	Section 11.4.	 	Term of Plan	  	 	14	  
	Section 11.5.	 	Amendment or Termination of the Plan	  	 	14	  
	Section 11.6.	 	Tax Withholding	  	 	14	  
	Section 11.7.	 	Notices	  	 	14	  
	Section 11.8.	 	Rights to Employment or Other Service	  	 	14	  
	Section 11.9.	 	Exculpation and Indemnification	  	 	15	  
	Section 11.10.	 	No Fund Created	  	 	15	  
	Section 11.11.	 	Additional Arrangements	  	 	15	  
	Section 11.12.    	 	TARP Laws	  	 	15	  
	Section 11.13.	 	Captions	  	 	15	  
	Section 11.14.	 	Governing Law	  	 	15	  
	Section 11.15.	 	Execution	  	 	15	  


  
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 AMENDED AND RESTATED 

BANK OF THE OZARKS, INC. 2009 RESTRICTED STOCK AND INCENTIVE PLAN 

ARTICLE I 

ESTABLISHMENT AND PURPOSE 

Section 1.1. Establishment. Bank of the Ozarks, Inc. (the “Company”) hereby establishes the Bank of
the Ozarks, Inc. 2009 Restricted Stock and Incentive Plan (the “Plan”) effective April 21, 2009, subject to approval by the shareholders of the Company on that date. 

Section 1.2. Purpose. The Plan is intended to provide incentive to key employees and officers of the Company to
foster and promote the long-term financial success of the Company and materially increase shareholder value. The Plan is also intended to encourage proprietary interest in the Company, to encourage such
individuals to remain in the employ of the Company and to attract new employees with outstanding qualifications. In furtherance thereof, the Plan permits incentives to key employees and officers of the Company. 

With respect to any awards granted under the Plan that are intended to comply with the requirements of “performance-based
compensation” under Section 162(m) of the Code, the Plan shall be interpreted in a manner consistent with such requirements. 

ARTICLE II 
 DEFINITIONS

 Section 2.1. Definitions. The following terms have the following meanings when used herein, unless
the context clearly indicates otherwise. 
 (a)      “Agreement” means a
written agreement entered into between the Company and the recipient of a Grant which sets forth the terms and conditions of the Grant. 

(b)      “Board” means the Board of Directors of the Company. 

(c)      “Cause” means, unless otherwise provided in a Participant’s Agreement,
(i) engaging in (A) willful or gross misconduct or (B) willful or gross neglect, (ii) repeatedly failing to adhere to the directions of superiors or the Board or the written policies and practices of the Company or a Subsidiary,
(iii) the commission of a felony, a crime of moral turpitude or any crime involving the Company or a Subsidiary, (iv) fraud, misappropriation, dishonesty or embezzlement, (v) incompetence or a material breach of the Participant’s
employment agreement (if any) with the Company or a Subsidiary, (other than a termination of employment by the Participant), or (vi) any unlawful act detrimental to the Company or a Subsidiary, all as determined in the sole discretion of the
Committee. 







 (d)      “Change in Control” means the
earlier to occur of any of the following: (i) if during any period of two consecutive years, individuals who at the beginning of such period constitute the Board cease for any reason to constitute at least a majority thereof, unless the
election or nomination for the election by the Company’s shareholders of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period; (ii) any
person or entity (other than any employee benefit plan or plans of the Company or its subsidiaries or any trustee of or fiduciary with respect to such plan or plans when acting in such capacity) or any group acting in concert, shall acquire or
control twenty-five percent (25%) or more of the outstanding voting shares of the Company; provided however, that with respect to any person or entity owning or controlling 10% or more of the outstanding voting shares of the Company as of the
effective date of the Plan, either acting alone or in concert with one or more of its wholly-owned subsidiaries, the amount of such voting shares so owned or controlled shall be deducted for purposes of this determination; (iii) if, upon a
merger, combination, consolidation or reorganization of the Company, the voting securities of the Company outstanding immediately prior thereto do not continue to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) at least fifty-one percent (51%) of the combined voting power of voting securities of the Company or such surviving entity outstanding immediately thereafter; (iv) all or substantially all of the assets
of the Company are sold or otherwise disposed of; or (v) the Committee or the Board determines, in its sole discretion, that any other business combination or other event (existing or anticipated) shall be deemed a change in control. 

(e)      “Code” means the Internal Revenue Code of 1986, as amended, and any related
rules, regulations and interpretations. 
 (f)      “Committee” means the Personnel
and Compensation Committee of the Board or such other committee designated by the Board to administer the Plan, composed solely of not less than two non-employee directors, each of whom shall be a “non-employee director” for purposes of
Section 16 under the Securities Exchange Act of 1934, as amended and Rule 16b-3 thereunder and an “outside director” for purposes of Section 162(m) and the regulations promulgated under the Code. 

(g)      “Common Stock” means the Company’s Common Stock, par value $0.01, either
currently existing or authorized hereafter and any other stock or security resulting from adjustment thereof as described herein, or the Common Stock of any successor to the Company which is designated for the purpose of the Plan. 

(h)      “Company” means Bank of the Ozarks, Inc. and any successor or assignee
corporation(s) into which the Company may be merged, changed or consolidated; any corporation for whose securities the securities of the Company shall be exchanged; and any assignee of or successor to substantially all of the assets of the Company.

 (i)      “Covered Officer” shall mean at any date (i) any individual who,
with respect to the previous taxable year of the Company, was a “covered employee” of the Company within the meaning of Section 162(m); provided, however, that the term “Covered Officer” shall not include any such individual
who is designated by the 

  
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Committee, in its discretion, at the time of any Grant or at any subsequent time, as reasonably expected not to be such a “covered employee” with respect to the current taxable year of
the Company and (ii) any individual who is designated by the Committee, in its discretion, at the time of any Grant or at any subsequent time, as reasonably expected to be such a “covered employee” with respect to the current taxable
year of the Company or with respect to the taxable year of the Company in which any applicable Grant will be paid. 

(j)      “Disability” means a Participant’s inability to engage in any
substantial gainful activity by reason of a medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than six (6) months.

 (k)      “Effective Date” means April 21, 2009; provided, however, no Common
Stock may be issued unless the Plan is approved by a vote of the holders of a majority of the outstanding shares of Common Stock at a meeting of the shareholders of the Company held on or within 12 months after the Effective Date. 

(l)      “Eligible Persons” means Employees and officers of the Company or a
Subsidiary. The Committee will determine the eligibility of Employees and officers based on, among other factors, the position and responsibilities of such individuals and the nature and value to the Company or a Subsidiary of such individual’s
accomplishments and potential contribution to the success of the Company or a Subsidiary. 

(m)      “Employee” means an individual, including an officer of the Company, who is
employed as a common-law employee of the Company or a Subsidiary. An “Employee” shall not include any person classified by the Company or a Subsidiary as an independent contractor even if the individual is subsequently reclassified as a
common-law employee by a court, administrative agency or other adjudicatory body. 

(n)      “Fair Market Value” for any given date means the reasonable value of the
Common Stock as determined by the Board, in its sole discretion. If the Common Stock is listed on a securities exchange or traded over a national market system, Fair Market Value means the average of the highest reported asked price and the lowest
reported bid price reported on that exchange or market on the relevant date, or if there is no sale for the relevant date, then on the last previous date on which a sale was reported. 

(o)      “Grant” means an award of Restricted Stock, Restricted Stock Unit or
Performance Award, to an Eligible Person. 
 (p)      “Participant” means any
Eligible Person to whom a Grant is made, or the Successors of the Participant, as the context so requires. 

(q)      “Performance Award” means a right granted to a Participant subject to the
terms and conditions established by the Committee pursuant to Article IX of the Plan. 

  
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 (r)      “Plan” means the Company’s
2009 Restricted Stock Plan, as set forth herein, and as the same may from time to time be amended. 

(s)      “Restricted Stock” means Common Stock granted to a Participant subject to the
terms and conditions established by the Committee pursuant to Article VII or Article IX of the Plan. 

(t)      “Restricted Stock Unit” means a right granted to a Participant under
Article VIII or Article IX of the Plan. 
 (u)      “Restriction Period” means
the period of time during which restrictions established by the Committee shall apply to a Grant. 

(v)      “Section 162(m)” shall mean Section 162(m) of the Code and the
regulations promulgated thereunder and any successor or provision thereto as in effect from time to time. 

(w)      “Subsidiary” means a subsidiary corporation, whether now or hereafter
existing, as defined in Code Section 424(f). 
 (x)      “Termination of
Service” means the time when the employee-employer relationship or directorship or other service relationship (sufficient to constitute service as an Eligible Person) between the Participant and the
Company or a Subsidiary is terminated for any reason, with or without Cause, including, but not limited to, any termination by resignation, discharge, Disability, death or retirement; provided, however, Termination of Service shall not include:
(i) a termination where there is a simultaneous reemployment of the Participant by the Company or a Subsidiary or other continuation of service (sufficient to constitute service as an Eligible Person), or (ii) an employee who is on
military leave, sick leave or other bona fide leave of absence (to be determined in the discretion of the Committee). The Committee, in its absolute discretion, shall determine the effects of all matters and questions relating to Termination of
Service, including but not limited to the question of whether any Termination of Service was for Cause and all questions of whether particular leaves of absence constitute Terminations of Service. 

ARTICLE III 

ADMINISTRATION 

Section 3.1. General. The Plan shall be administered by the Committee, subject to Board approval in instances
where the Board by resolution determines to require such approval. 
 Section 3.2. Committee
Meetings. The Committee shall meet from time to time as determined by its chairman or by resolution adopted in writing by a majority of the members of the Committee or by a majority of the members of the Committee present at any
meeting at which a quorum is present. A majority of the members of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting of the Committee at which a quorum is present, or acts approved in writing by
a majority of the entire Committee, shall be the acts of the Committee for purposes of the Plan. To the extent applicable, no member of the Committee may act as to matters under the Plan specifically relating to such member. 

  
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 Section 3.3. Powers of the
Committee. Subject to the terms and conditions of the Plan and consistent with the Company’s intention for the Committee to exercise the greatest permissible flexibility in awarding Grants, the Committee shall have
the power: 
 (a)      to determine from time to time the Eligible Persons who
are to be awarded Grants and the nature and amount of Grants, and to generally determine the terms, provisions and conditions (which need not be identical) of Grants awarded under the Plan, not inconsistent with the terms of the Plan; 

(b)      to construe and interpret the Plan and Grants thereunder and to establish, amend and
revoke rules and regulations for administration of the Plan. In this connection, the Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan, in any Agreement or in any related agreements in the manner and to
the extent it shall deem necessary or expedient to make the Plan fully effective; 

(c)      to amend any outstanding Grant and to accelerate or extend the vesting or
exercisability of any Grant, all subject to Section 11.3, and to waive conditions or restrictions on any Grants, all to the extent it shall deem appropriate; 

(d)      to cancel, with the consent of a Participant or as otherwise permitted by the Plan,
outstanding Grants; 
 (e)      to determine whether, and to what extent and under what
circumstances, Grants may be settled in cash, Common Stock, other property or a combination of the foregoing; 

(f)      to appoint agents as the Committee deems necessary or desirable to administer the Plan;

 (g)      to provide for the forms of Agreements to be utilized in connection with the Plan,
which need not be identical for each Participant; 
 (h)      to authorize, by written
resolution, one or more officers of the Company to make Grants to nonofficer Employees and to determine the terms and conditions of such Grants, provided, however, (i) the Committee shall not delegate such responsibility to any officer for
Grants made to an Employee who is considered an insider, (ii) the Committee’s resolution providing for such authorization sets forth the total number of Grants such officer may award and any other conditions on the officer’s authority
to make Grants, and (iii) the officer shall report to the Committee, as the Committee may request, information regarding the nature and scope of the Grants made pursuant to the delegated authority; and 

(i)      generally to exercise such powers and to perform such acts as are deemed necessary or
expedient to carry out the terms of the Plan and to promote the best interests of the Company with respect to the Plan. 

  
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 Section 3.4. Grants to Committee Members. Notwithstanding
Section 3.3, any Grant awarded under the Plan to an Eligible Person who is a member of the Committee shall be made by a majority of the directors of the Company who are not on the Committee. 

Section 3.5. Committee Decisions and Determinations. Any determination made by the Committee or Board
pursuant to the provisions of the Plan or an Agreement shall be made in its sole discretion in the best interest of the Company, not as a fiduciary. All decisions made by the Committee or Board pursuant to the provisions of the Plan or an Agreement
shall be final and binding on all persons, including the Company, a Subsidiary, Participants and Successors of the Participants. Any determination by the Committee or Board shall not be subject to de novo review if challenged in any court or
legal forum. 
 ARTICLE IV 

ELIGIBILITY AND PARTICIPATION 

Section 4.1. Eligibility. Any Eligible Person may receive Grants under the Plan. 

Section 4.2. Participation. Whether an Eligible Person receives a Grant under the Plan will be determined by
the Committee, in its sole discretion, as provided in Section 3.3.  
 ARTICLE V 

SHARES SUBJECT TO PLAN 

Section 5.1. Available Shares. Shares hereunder may consist, in whole or in part, of authorized and unissued
shares or treasury shares, including shares purchased by the Company for purposes of the Plan. The certificates for Common Stock issued hereunder may include any legend which the Committee deems appropriate to reflect any restrictions on transfer
hereunder or under the Agreement or as the Committee may otherwise deem appropriate. Subject to adjustment pursuant to Section 5.3, the maximum number of shares of Common Stock that may be issued under the Plan as a result of all Grants is One
Million Six Hundred Thousand (1,600,000) shares (adjusted to give effect to the 2-for-1 stock split payable on June 23, 2014). 

Section 5.2. Previously Granted Shares. Subject to Sections 5.1 and 5.3, the Committee has full
authority to determine the number of shares of Common Stock available for Grants. In its discretion, the Committee may include as available for distribution all of the following: 

(a)      Common Stock subject to a Grant that has been forfeited; 

(b)      Common Stock under a Grant that otherwise terminates, fails to vest, expires or lapses
in whole or in part without issuance of Common Stock being made to a Participant; and 

(c)      Common Stock subject to any Grant that settles in cash or a form other than Common
Stock. 

  
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 Section 5.3. Adjustments. Without limiting the Committee’s
discretion as provided in ARTICLE XI hereof, if there shall occur any change in the capital structure of the Company by reason of any extraordinary dividend or other distribution (whether in the form of cash, Common Stock, other securities or other
property, and other than a normal cash dividend), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Common Stock or other securities of the Company,
issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other corporate transaction or event having an effect similar to the foregoing, which affects the Common Stock, then the Committee shall, in an
equitable and proportionate manner as determined by the Committee (and, as applicable, in such manner as is consistent with Sections 162(m), 422 and 409A of the Code and the regulations thereunder) either: (i) adjust any or all of (1) the
aggregate number of shares of Common Stock or other securities of the Company (or number and kind of other securities or property) with respect to which Grants may be awarded under the Plan; (2) the number of shares of Common Stock or other
securities of the Company (or number and kind of other securities or property) subject to outstanding Grants under the Plan, provided that the number of shares of Common Stock subject to any Grant shall always be a whole number; (3) the grant
or exercise price with respect to any Grant under the Plan, and (4) the limits on the number of shares of Common Stock or Grants that may be granted to Participants under the Plan in any calendar year; (ii) provide for an equivalent award
in respect of securities of the surviving entity of any merger, consolidation or other transaction or event having a similar effect; or (iii) make provision for a cash payment to the holder of an outstanding Grant. Any such adjustments to
outstanding Grants shall be effected in a manner that precludes the material enlargement or dilution of rights and benefits under such Grants. 

Section 5.4. Code Section 409A Limitation. Any adjustment made pursuant to Section 5.3 to any Grant
that is considered “deferred compensation” within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Code Section 409A. Any adjustments made pursuant to Section 5.3 to any Grant that
is not considered “deferred compensation” shall be made in a manner to ensure that after such adjustment, the Grant either continues not to be subject to Code Section 409A or complies with the requirements of Code
Section 409A. 
 ARTICLE VI 

GRANTS IN GENERAL 

Section 6.1. Agreement. Each Agreement evidencing a Grant shall set forth the terms and conditions as may be
determined by the Committee consistent with the Plan. The Agreement shall state the number of shares of Common Stock to which the Grant pertains, if applicable. As applicable, each Agreement must state the Exercise Price or other consideration to be
paid for any Grant. 
 Section 6.2. Time of Granting of an Award. The award date of a Grant shall,
for all purposes, be the date on which the Committee makes the determination awarding such Grant, or such other date as is determined by the Board. Notice of the determination of a Grant shall be given to each Eligible Person to whom a Grant is
awarded within a reasonable period of time after the date of such Grant. 

  
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 Section 6.3. Term and Nontransferability of Grants. No
Grant is assignable or transferable, except by will or the laws of descent and distribution of the state wherein the Participant was domiciled at the time of his or her death; provided, however, that the Committee may permit other transfers where
the Committee concludes that such transferability (i) does not result in accelerated taxation, (ii) is in no event a transfer for value, and (iii) is otherwise appropriate and desirable. 

Section 6.4. Termination of Services. Unless otherwise provided in the applicable Agreement or as determined
by the Committee, Grants shall be governed by the following provisions: 

(a)      Termination of Service, Except by Death or Disability. In
the event of a Participant’s Termination of Service for any reason other than the Participant’s death or Disability, the Participant’s Grant shall be forfeited upon the Participant’s Termination of Service. 

(b)      Death or Disability of Participant. Grants shall fully vest
on a Participant’s Termination of Service by reason of the Participant’s death or Disability, subject to Section 11.12 and the limitations imposed under applicable laws. 

Section 6.5. Participation. There is no guarantee that any Eligible Person will receive a Grant under the
Plan or, having received a Grant, that the Participant will receive a future Grant on similar terms or at all. There is no obligation for uniformity of treatment of Eligible Persons with respect to who receives a Grant or the terms and conditions of
Participants’ Grants. 
 ARTICLE VII 

RESTRICTED STOCK 

Section 7.1. General. The Committee has authority to grant Restricted Stock under the Plan at any time or from time
to time. The Committee has the authority to grant Restricted Stock under the Plan in connection with the achievement of performance goals based on the criteria listed in ARTICLE X. Grants of Restricted Stock shall be evidenced by an Agreement in
such form as the Committee shall from time to time approve, which agreements shall comply with and be subject to the terms and conditions provided hereunder and any additional terms and conditions established by the Committee that are consistent
with the terms of the Plan. The Committee shall determine the number of shares of Restricted Stock to be awarded to any Eligible Person, the Restriction Period within which such Grants may be subject to forfeiture in accordance with applicable laws
and any other terms and conditions of such Grants. If the Committee so determines, the restrictions may lapse during such Restricted Period in installments with respect to specified portions of the Restricted Stock covered by the Grant. The
Agreement may also, in the discretion of the Committee, set forth performance or other conditions (including, but not limited to, performance goals based on the criteria listed in ARTICLE X of the Plan) that will subject the shares of Common Stock
covered by the Grant to forfeiture and transfer restrictions. 

  
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 Section 7.2. Delivery. The Company shall issue the shares of
Restricted Stock to each recipient who is awarded a Grant of Restricted Stock either in certificate form or in book entry form, registered in the name of the recipient, with legends or notations, as applicable, referring to the terms, conditions and
restrictions applicable to any such Grant and record the transfer on the Company’s official shareholder records; provided that the Company may require that any stock certificates evidencing Restricted Stock granted hereunder be held in the
custody of the Company until the restrictions thereon shall have lapsed, and that as a condition of any Grant of Restricted Stock, the Participant shall have delivered a stock power, endorsed in blank, relating to the Common Stock covered by such
Grant. 
 Section 7.3. Shareholder Rights. Unless the Committee specifies otherwise in the
Restricted Stock Agreement, the Participant will have, with respect to the Restricted Stock, all of the rights of a shareholder of the Company holding the Common Stock that is the subject of the Restricted Stock, including, if applicable, the right
to vote the shares and the right to receive any dividends, subject to Section 6.3. If any dividends are paid in Common Stock, the Common Stock will be subject to the same restrictions as applied to the Grant of Restricted Stock with respect to
which they were paid. 
 Section 7.4. Price. The Committee may require a Participant to pay a
stipulated purchase price for each share of Restricted Stock. 
 Section 7.5. Section 83(b)
Election. The Committee or the Board may prohibit a Participant from making an election under Section 83(b) of the Code. If the Committee has not prohibited such election, and if the Participant elects to include in such
Participant’s gross income in the year of transfer the amounts specified in Section 83(b) of the Code, the Participant shall notify the Company of such election within 10 days of filing notice of the election with the Internal Revenue
Service, and will provide the required withholding pursuant to Section 11.6, in addition to any filing and notification required pursuant to regulations issued under the authority of Section 83(b) of the Code. 

ARTICLE VIII 

RESTRICTED STOCK UNITS 

Section 8.1. General. The Committee has authority to grant Restricted Stock Units under the Plan at any time or from
time to time. The Committee has the authority to grant Restricted Stock Units under the Plan in connection with the achievement of certain performance goals based on the criteria listed in ARTICLE X. A Restricted Stock Unit is a bookkeeping entry of
a grant of Common Stock that will be settled by delivery of Common Stock, the payment of cash based upon the Fair Market Value of a specified number of shares of Common Stock or a combination thereof. Grants of Restricted Stock Units shall be
evidenced by an Agreement in such form as the Committee shall from time to time approve, which agreements shall comply with and be subject to the terms and conditions provided hereunder and any additional terms and conditions established by the
Committee that are consistent with the terms of the Plan. The Committee shall determine the number of Restricted Stock Units to be awarded to any Participant, the Restriction Period within which such Grants may be subject to forfeiture and any other
terms and conditions of the Grants. If the Committee so determines, the restrictions may 

  
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lapse during such Restricted Period in installments with respect to specified portions of the Restricted Stock Units covered by the Grant. The Agreement may also, in the discretion of the
Committee, set forth performance or other conditions (including, but not limited to, performance goals based on the criteria listed in ARTICLE X of the Plan) that will subject the shares of Common Stock covered by the Grant to forfeiture and
transfer restrictions. 
 Section 8.2. Rights. The Committee is entitled to specify in a Restricted Stock
Unit Agreement the extent to which and on what terms and conditions the applicable Participant shall be entitled to receive payments corresponding to the dividends payable on the Common Stock, if any.  

ARTICLE IX 
 PERFORMANCE
AWARDS 
 Section 9.1. Grant. The Committee shall have sole and complete authority to determine the
Participants who shall receive a Performance Award, which shall consist of a right that is (i) denominated in cash or Common Stock (including but not limited to Restricted Stock and Restricted Stock Units), (ii) valued, as determined by
the Committee, in accordance with the achievement of such performance goals during such performance periods as the Committee shall establish, and (iii) payable at such time and in such form as the Committee shall determine. 

Section 9.2. Terms and Conditions. Subject to the terms of the Plan and any applicable Agreement, the
Committee shall determine the performance goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award and the amount and kind of any payment or transfer to be made pursuant to any
Performance Award, and may amend specific provisions of the Performance Award; provided, however, that such amendment may not adversely affect existing Performance Awards made within a performance period commencing prior to implementation of the
amendment.  
 Section 9.3. Payment of Performance Awards. Performance Awards may be
paid in a lump sum or in installments following the close of the performance period or, in accordance with the procedures established by the Committee, on a deferred basis. Termination of Service prior to the end of any performance period, other
than for reasons of death or Disability, will result in the forfeiture of the Performance Award, and no payments will be made. Notwithstanding the foregoing, the Committee may in its discretion, waive any performance goals and/or other terms and
conditions relating to a Performance Award. A Participant’s rights to any Performance Award may not be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of in any manner, except by will or the laws of
descent and distribution, and/or except as the Committee may determine at or after grant. 

  
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 ARTICLE X 

PROVISIONS APPLICABLE TO COVERED OFFICERS 

AND PERFORMANCE AWARDS 

Section 10.1. Covered Officers. Notwithstanding anything in the Plan to the contrary, unless the
Committee determines that a Performance Award to be granted to a Covered Officer should not qualify as “performance-based compensation” for purposes of Section 162(m), Performance Awards granted to Covered Officers shall be subject to
the terms and provisions of this ARTICLE X. 
 Section 10.2. Performance Goals. The
Committee may grant Performance Awards to Covered Officers based solely upon the attainment of performance targets related to one or more performance goals selected by the Committee from among the goals specified below. For the purposes of this
ARTICLE X, performance goals shall be limited to one or more of the following Company, Subsidiary, or division financial performance measures:  

(a)      earnings or book value per share; 

(b)      net income; 

(c)      return on equity, assets, capital, capital employed or investment; 

(d)      earnings before taxes, depreciation and/or amortization; 

(e)      operating income or profit; 

(f)      operating efficiencies; 

(g)      asset quality ratios such as the ratio of criticized/classified assets to capital, the
ratio of classified assets to capital and the allowance for loan and lease losses, the ratio of nonperforming loans and leases and/or past due loans and leases greater than 90 days and non-accrual loans and leases to total loans and leases, the
ratio of nonaccrual loans and leases to total loans and leases or the ratio of net charge-offs to average loans and leases or other similar asset quality measures; 

(h)      allowance for loan and lease losses; 

(i)       net interest income, net interest spread, net interest margin, after tax
operating income and after tax operating income before preferred stock dividends; 

(j)      cash flow(s); 

(k)     total revenues or revenues per employee; 

(l)      stock price or total shareholder return; 

(m)    growth in deposits; 

  
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 (n)      dividends; 

(o)      strategic business objectives, consisting of one or more objectives based on meeting
specified cost targets, soundness targets, business expansion goals and goals relating to acquisitions or divestitures; or 

(p)      any combination thereof. 

Each goal may be expressed on an absolute and/or relative basis, may be based on or otherwise employ comparisons based on internal targets,
the past performance of the Company or any Subsidiary or division of the Company and/or the past or current performance of other companies, and in the case of earnings-based measures, may use or employ comparisons relating to capital,
shareholders’ equity and/or shares outstanding, or to assets or net assets. The Committee may, at its discretion, waive all or any part of the restrictions applicable to any or all outstanding Performance Awards. The Committee may appropriately
adjust any evaluation of performance under criteria set forth in this Section 10.2 to exclude any of the following events that occurs during a performance period: (i) asset impairments or write-downs, (ii) litigation or claim
judgments or settlements, (iii) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results, (iv) accruals for reorganization and restructuring programs, (v) any extraordinary
non-recurring items as described in Accounting Standards Codification Topic 225-20 and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders for
the applicable year, (vi) the effect of adverse federal, governmental or regulatory action, or delays in federal, governmental or regulatory action or (vii) any other event either not directly related to the operations of the Company or
not within the reasonable control of the Company’s management; provided that the Committee commits to make any such adjustments within the period set forth in Section 10.4. 

Section 10.3. Limitations. With respect to any Covered Officer: (a) the maximum number of shares
in respect of which all stock-based Performance Awards may be granted in any fiscal year under ARTICLE IX of the Plan is 100,000 (adjusted to give effect to the 2-for-1 stock split payable on June 23, 2014) and (b) the maximum amount of
all cash-settled Performance Awards that may be granted in any fiscal year under ARTICLE IX of the Plan is $2,000,000. 

Section 10.4. Terms and Conditions. To the extent necessary to comply with Section 162(m), with
respect to grants of Performance Awards, no later than 90 days following the commencement of each performance period (or such other time as may be required or permitted by Section 162(m) of the Code), the Committee shall, in writing,
(1) select the performance goal or goals applicable to the performance period, (2) establish the various targets and amounts which may be earned for such performance period, and (3) specify the relationship between performance goals
and targets and the amounts to be earned by each Covered Officer for such performance period. Following the completion of each performance period, the Committee shall certify in writing whether the applicable performance targets have been achieved
and the amounts, if any, payable to Covered Officers for such performance period. In determining the amount earned by a Covered Officer for a given performance period, subject to any applicable Agreement, the Committee shall have the right to reduce
(but not increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem relevant to the assessment of individual or corporate performance for the performance period.


  
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 Section 10.5. Compliance with Section 162(m). Unless
otherwise expressly stated in the relevant Agreement, each Performance Award granted to a Covered Officer under the Plan is intended to be performance-based compensation within the meaning of Section 162(m). Accordingly, unless otherwise
determined by the Committee, if any provision of the Plan or any Agreement relating to such a Grant does not comply or is inconsistent with Section 162(m), such provision shall be construed or deemed amended to the extent necessary to conform
to such requirements, and no provision shall be deemed to confer upon the Committee discretion to increase the amount of compensation otherwise payable to a Covered Officer in connection with any such Grant upon the attainment of the performance
criteria established by the Committee. 
 ARTICLE XI 

MISCELLANEOUS 

Section 11.1. Effect of a Change in Control. Notwithstanding any other provision of this Plan to the contrary
but within the restrictions of Section 11.12, all unvested, unexercisable or restricted Grants shall automatically vest, become exercisable and become unrestricted without further action by the Board or Committee upon a Change in Control,
unless provisions are made in connection with the transaction resulting in the Change in Control for the assumption of Grants theretofore awarded, or the substitution for such Grants of new grants, by the successor entity or parent thereof, with
appropriate adjustment as to the number and kind of shares and the per share exercise prices, as provided in Section 5.3. 

Section 11.2. Rights as a Shareholder. Other than certain voting and dividend rights permitted by the Plan or
an Agreement, no person shall have any rights of a shareholder as to Common Stock subject to a Grant until, after proper transfer of the Common Stock subject to a Grant or other required action, such shares have been recorded on the Company’s
official shareholder records as having been issued and transferred. No adjustment shall be made for cash dividends or other rights for which the record date is prior to the date such shares are recorded as issued and transferred in the
Company’s official shareholder records. 
 Section 11.3. Modification, Extension and Renewal of
Grants. 
 (a)      Ability. Within the limitations
of the Plan and applicable laws, the Committee may modify, extend or renew outstanding Grants, accept the cancellation of outstanding Grants (to the extent not previously exercised) to make new Grants in substitution therefor, accelerate vesting,
and waive any restrictions, forfeiture provisions or other terms and conditions on Grants. The foregoing notwithstanding, no such action shall apply to a Grant without the consent of the Participant if it would alter or impair any rights or
obligations under any Grant previously made. 

(b)      Code Section 409A Limitation. Any action taken under
subsection (a) hereunder to any Grant that is considered “deferred compensation” within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Code 


  
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Section 409A. Any action taken under subsection (a) hereunder to any Grant that is not considered “deferred compensation” within the meaning of Code Section 409A shall be
made in a manner to ensure that after such action, the Grant either continues not to be subject to Code Section 409A or complies with the requirements of Code Section 409A. 

Section 11.4. Term of Plan. Grants may be made pursuant to the Plan until the expiration of ten
(10) years from the Effective Date of the Plan, unless the Company sooner terminates the Plan under Section 11.5. 

Section 11.5. Amendment or Termination of the Plan. The Board may from time to time, with respect to any
Common Stock at the time not subject to Grants, suspend or discontinue the Plan or revise or amend it in any respect whatsoever. The Board may amend the Plan as it shall deem advisable, except that no amendment may adversely affect a Participant
with respect to Grants previously made without the written consent of the Participant holding such Grant and unless such amendments are in connection with compliance with applicable laws (including but not limited to Code Section 409A), stock
exchange rules or accounting rules; provided that the Board may not make any amendment in the Plan that would, if such amendment were not approved by the holders of the Common Stock, cause the Plan to fail to comply with any requirement or
applicable law or regulation, unless and until the approval of the holders of such Common Stock is obtained. 

Section 11.6. Tax Withholding. Each recipient of a Grant shall, no later than the date as of which the value
of any Grant first becomes includable in the gross income of the recipient for federal income tax purposes, pay to the Company, or make arrangements satisfactory to the Company regarding payment of any federal, state or local taxes of any kind that
are required by law to be withheld with respect to such income. A Participant may elect to have such tax withholding satisfied, in whole or in part, by (i) authorizing the Company to withhold a number of shares of vested restricted Common
Stock, if any, owned by the Participant equal to the Fair Market Value as of the date withholding is effected that would satisfy the withholding amount due, (ii) transferring to the Company cash or other shares of Common Stock owned by the
Participant with a Fair Market Value equal to the amount of the required withholding tax, or (iii) in the case of a Participant who is an Employee of the Company or a Subsidiary at the time such withholding is effected, by withholding from the
Participant’s cash compensation. Notwithstanding anything contained in the Plan to the contrary, the Participant’s satisfaction of any tax-withholding requirements imposed by the Committee shall be a
condition precedent to the Company’s obligation as may otherwise be provided hereunder to provide shares of Common Stock to the Participant. 

Section 11.7. Notices. All notices under the Plan shall be in writing and if to the Company, shall be
delivered personally to the Secretary of the Company or mailed to its principal office, addressed to the attention of the Secretary, and if to a Participant or recipient of a Grant, shall be delivered personally or mailed to the Participant or
recipient of a Grant at the address appearing in the records of the Company or a Subsidiary. Such addresses may be changed at any time by written notice to the other party given in accordance with this Section. 

Section 11.8. Rights to Employment or Other Service. Nothing in the Plan or in any Grant made under the Plan
shall confer on any individual any right to continue in the employ or other service of the Company or a Subsidiary or interfere in any way with the right of the Company or a Subsidiary to terminate the individual’s employment or other service
at any time. 

  
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 Section 11.9. Exculpation and Indemnification. To the
maximum extent permitted by law, the Company or a Subsidiary shall indemnify and hold harmless the members of the Board and the members of the Committee from and against any and all liabilities, costs and expenses incurred by such persons as a
result of any act or omission to act in connection with the performance of such person’s duties, responsibilities and obligations under the Plan, other than such liabilities, costs and expenses as may result from the gross negligence, bad
faith, willful misconduct or criminal acts of such persons. 
 Section 11.10. No Fund
Created. Any and all payments hereunder to recipients of Grants hereunder shall be made from the general funds of the Company and no special or separate fund shall be established or other segregation of assets made to assure such
payments; provided that bookkeeping reserves may be established in connection with the satisfaction of payment obligations hereunder. The obligations of the Company under the Plan are unsecured and constitute a mere promise by the Company to make
benefit payments in the future, and to the extent that any person acquires a right to receive payments under the Plan from the Company, such right shall be no greater than the right of a general unsecured creditor of the Company. 

Section 11.11. Additional Arrangements. Nothing contained herein precludes the Company from adopting other or
additional compensation or benefit arrangements. 
 Section 11.12. TARP Laws. Notwithstanding any other provision
of the Plan, the Committee may not make any Grant that is prohibited by or inconsistent with the Emergency Economic Stabilization Act’s Troubled Assets Relief Program, Capital Purchase Program or the American Recovery and Reinvestment Act of
2009 or the rules, regulations or other guidance issued under such laws, as such may be amended from time to time (collectively, the “TARP laws”). Further, notwithstanding any other provision of the Plan, a Grant will not be amended,
automatically vested or otherwise adjusted in any manner prohibited by the TARP laws. 
 Section 11.13.
Captions. The use of captions in the Plan is for convenience. The captions are not intended to provide substantive rights and shall not be used in construing the terms of the Plan. 

Section 11.14. Governing Law. Except as governed by federal law, the laws of the state of Arkansas shall
govern the plan, without reference to principles of conflict of laws. 
 Section 11.15. Execution.
The Company has caused the Plan to be executed in the name and on behalf of the Company by an officer of the Company thereunto duly authorized. 
  

			
	BANK OF THE OZARKS, INC.
		
	By:	 	 /s/ George Gleason

		 	George Gleason, Chairman of the Board of        
		 	Directors and CEO



  
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