Document:

EX-10.1

 Exhibit 10.1 

HOPFED BANCORP, INC. 2015 

EMPLOYEE STOCK OWNERSHIP PLAN 

Effective as of January 1, 2015 

Dated February 27, 2015 

 HOPFED BANCORP, INC. 2015 

EMPLOYEE STOCK OWNERSHIP PLAN 

WHEREAS, HopFed Bancorp, Inc. (“Company”), a Kentucky corporation and the holding company for Heritage Bank USA, Inc., a Kentucky
chartered commercial bank, has approved the adopted the HopFed Bancorp, Inc. Employee Stock Ownership Plan (the “Plan”). 
 NOW,
THEREFORE, the Company hereby adopts the Plan as set forth herein. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be
executed by its duly authorized officer on the date set forth below. 
 Date of Execution: February 27, 2015 

 

			
	HOPFED BANCORP, INC.,
		
	By		 /s/ John E. Peck

		
	Title:		 President / CEO

  
 1 

 Table of Contents 

 

							
	 	 	 	  	Page	 
			
	 Section 1.
	 	 Plan Identity
	  	 	1	  
			
	 1.1
	 	 Name
	  	 	1	  
	 1.2
	 	 Purpose
	  	 	1	  
	 1.3
	 	 Effective Date
	  	 	1	  
	 1.4
	 	 Fiscal Period
	  	 	1	  
	 1.5
	 	 Single Plan for All Employers
	  	 	1	  
	 1.6
	 	 Interpretation of Provisions
	  	 	1	  
			
	 Section 2.
	 	 Definitions
	  	 	1	  
			
	 Section 3.
	 	 Eligibility for Participation
	  	 	9	  
			
	 3.1
	 	 Initial Eligibility
	  	 	9	  
	 3.2
	 	 Eligibility Year
	  	 	9	  
	 3.3
	 	 Terminated Employees
	  	 	9	  
	 3.4
	 	 Certain Employees Ineligible
	  	 	10	  
	 3.5
	 	 Participation and Reparticipation
	  	 	10	  
	 3.6
	 	 Treatment of Qualified Military Service
	  	 	10	  
			
	 Section 4.
	 	 Contributions and Credits
	  	 	10	  
			
	 4.1
	 	 Discretionary Contributions
	  	 	10	  
	 4.2
	 	 Contributions for Stock Obligations
	  	 	11	  
	 4.3
	 	 Conditions as to Contributions
	  	 	11	  
	 4.4
	 	 Rollover Contributions
	  	 	12	  
			
	 Section 5.
	 	 Limitations on Contributions and Allocations
	  	 	12	  
			
	 5.1
	 	 Limitation on Annual Additions
	  	 	12	  
	 5.2
	 	 Effect of Limitations
	  	 	13	  
	 5.3
	 	 Limitations as to Certain Participants
	  	 	14	  
	 5.4
	 	 Erroneous Allocations
	  	 	14	  
			
	 Section 6.
	 	 Trust Fund and Its Investment
	  	 	15	  
			
	 6.1
	 	 Creation of Trust Fund
	  	 	15	  
	 6.2
	 	 Stock Fund and Investment Fund
	  	 	15	  
	 6.3
	 	 Acquisition of Stock
	  	 	15	  
	 6.4
	 	 Participants’ Option to Diversify
	  	 	16	  
	 6.5
	 	 Post-Service Investments
	  	 	17	  
			
	 Section 7.
	 	 Voting Rights and Dividends on Stock
	  	 	17	  
			
	 7.1
	 	 Voting and Tendering of Stock
	  	 	17	  
	 7.2
	 	 Application of Dividends
	  	 	18	  
			
	 Section 8.
	 	 Adjustment to Accounts
	  	 	20	  
			
	 8.1
	 	 ESOP Allocations
	  	 	20	  
	 8.2
	 	 Charges to Accounts
	  	 	20	  

  
 i 

							
	 8.3
		 Stock Fund Account
		 	21	  
	 8.4
		 Investment Fund Account
		 	21	  
	 8.5
		 Adjustment to Value of Trust Fund
		 	21	  
	 8.6
		 Participant Statements
		 	21	  
			
	 Section 9.
		 Vesting of Participants’ Interests
		 	21	  
			
	 9.1
		 Vesting in Accounts
		 	21	  
	 9.2
		 Computation of Vesting Years
		 	22	  
	 9.3
		 Full Vesting Upon Certain Events
		 	23	  
	 9.4
		 Full Vesting Upon Plan Termination
		 	24	  
	 9.5
		 Forfeiture, Repayment, and Restoral
		 	24	  
	 9.6
		 Accounting for Forfeitures
		 	25	  
	 9.7
		 Vesting and Nonforfeitability
		 	25	  
			
	 Section 10.
		 Payment of Benefits
		 	25	  
			
	 10.1
		 Benefits for Participants
		 	25	  
	 10.2
		 Time for Distribution
		 	26	  
	 10.3
		 Marital Status
		 	30	  
	 10.4
		 Delay in Benefit Determination
		 	30	  
	 10.5
		 Accounting for Benefit Payments
		 	31	  
	 10.6
		 Options to Receive Stock
		 	31	  
	 10.7
		 Restrictions on Disposition of Stock
		 	32	  
	 10.8
		 Continuing Loan Provisions; Creations of Protections and Rights
		 	32	  
	 10.9
		 Direct Rollover of Eligible Distribution
		 	32	  
	 10.10
		 Waiver of 30-Day Period After Notice of Distribution
		 	33	  
			
	 Section 11.
		 Rules Governing Benefit Claims and Review of Appeals
		 	34	  
			
	 11.1
		 Claim for Benefits
		 	34	  
	 11.2
		 Notification by Committee
		 	34	  
	 11.3
		 Claims Review Procedure
		 	34	  
	 11.4
		 Determinations of Disability
		 	35	  
			
	 Section 12.
		 The Committee and its Functions
		 	35	  
			
	 12.1
		 Authority of Committee
		 	35	  
	 12.2
		 Identity of Committee
		 	35	  
	 12.3
		 Duties of Committee
		 	35	  
	 12.4
		 Valuation of Stock
		 	36	  
	 12.5
		 Compliance with ERISA
		 	36	  
	 12.6
		 Action by Committee
		 	36	  
	 12.7
		 Execution of Documents
		 	36	  
	 12.8
		 Adoption of Rules
		 	36	  
	 12.9
		 Responsibilities to Participants
		 	36	  
	 12.10
		 Alternative Payees in Event of Incapacity
		 	36	  
	 12.11
		 Indemnification by Employers
		 	37	  
	 12.12
		 Nonparticipation by Interested Member
		 	37	  

  
 ii 

							
			
	 Section 13.
		 Adoption, Amendment, or Termination of the Plan
		 	37	  
			
	 13.1
		 Adoption of Plan by Other Employers
		 	37	  
	 13.2
		 Plan Adoption Subject to Qualification
		 	37	  
	 13.3
		 Right to Amend or Terminate
		 	37	  
			
	 Section 14.
		 Miscellaneous Provisions
		 	38	  
			
	 14.1
		 Plan Creates No Employment Rights
		 	38	  
	 14.2
		 Nonassignability of Benefits
		 	38	  
	 14.3
		 Limited Liability
		 	38	  
	 14.4
		 Treatment of Expenses
		 	38	  
	 14.5
		 Number and Gender
		 	39	  
	 14.6
		 Nondiversion of Assets
		 	39	  
	 14.7
		 Separability of Provisions
		 	39	  
	 14.8
		 Service of Process
		 	39	  
	 14.9
		 Governing State Law
		 	39	  
	 14.10
		 Employer Contributions Conditioned on Deductibility
		 	39	  
	 14.11
		 Unclaimed Accounts
		 	39	  
	 14.12
		 Qualified Domestic Relations Order
		 	39	  
	 14.13
		 Use of Electronic Media to Provide Notices and Make Participant Elections
		 	40	  
			
	 Section 15.
		 Top-Heavy Provisions
		 	40	  
			
	 15.1
		 Top-Heavy Plan
		 	40	  
	 15.2
		 Definitions
		 	40	  
	 15.3
		 Top-Heavy Rules of Application
		 	41	  
	 15.4
		 Minimum Contributions
		 	42	  
	 15.5
		 Top-Heavy Provisions Control in Top-Heavy Plan
		 	43	  

  
 iii 

 HOPFED BANCORP, INC. 2015 

EMPLOYEE STOCK OWNERSHIP PLAN 
  

	Section 1.	Plan Identity. 

 1.1 Name. The name of this Plan is “HopFed Bancorp,
Inc. 2015 Employee Stock Ownership Plan.” 
 1.2 Purpose. The purpose of this Plan document is to describe the terms and
conditions under which contributions made pursuant to the Plan will be credited and paid to Participants and Beneficiaries. 
 1.3
Effective Date. The Plan is adopted effective January 1, 2015. 
 1.4 Fiscal Period. This Plan shall be
operated on the basis of the calendar year for the purpose of keeping the Plan’s books and records and distributing or filing any reports or returns required by law. This shall be the period from January 1, 2015 through December 31,
2015, and each period of 12 consecutive months beginning on January 1 of each succeeding year. 
 1.5 Single Plan for All
Employers. This Plan shall be treated as a single plan with respect to all participating Employers for the purpose of crediting contributions and forfeitures and distributing benefits, determining whether there has been any termination of
Service, and applying the limitations set forth in Section 5. 
 1.6 Interpretation of Provisions. The Employers intend
this Plan and the Trust Agreement to be a qualified stock bonus plan under Section 401(a) of the Code and an employee stock ownership plan within the meaning of Section 407(d)(6) of ERISA and Section 4975(e)(7) of the Code. The Plan
is intended to have its assets invested primarily in qualifying employer securities of one or more Employers within the meaning of Section 407(d)(5) of ERISA, and to satisfy any requirement under ERISA or the Code applicable to such a plan.
Accordingly, the Plan and Trust Agreement shall be interpreted and applied in a manner consistent with this intent and shall be administered at all times and in all respects in a nondiscriminatory manner. 

 

	Section 2.	Definitions. 

 The following capitalized words and phrases shall have the meanings
specified when used in this Plan and in the Trust Agreement, unless the context clearly indicates otherwise: 
 “Account”
means a Participant’s interest in the assets accumulated under this Plan as expressed in terms of a separate account balance that is periodically adjusted to reflect his Employer’s contributions, the Plan’s investment experience, and
distributions and forfeitures.  
 “Active Participant” means a Participant who has satisfied the eligibility
requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. 

  
 1 

 
However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, (ii) he is on a Recognized
Absence as of such date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, Normal Retirement, or a Change in Control (as defined under Section 9.3-2). 

Notwithstanding the foregoing, for the initial Plan Year only, “Active Participant” means an Employee who is in active Service with
an Employer as of the last day of the initial Plan Year (or meets the one of the requirements set forth in (i), (ii) or (iii) of the preceding paragraph) and has at least one Hour of Service during such initial Plan Year. 

“Bank” means Heritage Bank USA, Inc. and any entity that succeeds to the business of Heritage Bank USA, Inc. 

“Beneficiary” means the entities or individuals who are designated by a Participant to receive benefits payable under the
Plan on the Participant’s death. In the event that the Participant fails to designate a Beneficiary, or in the event that the Participant is predeceased by all Beneficiaries, the death benefit shall be payable to the Participant’s spouse
or, if there is no spouse, to the Participant’s children in equal shares or, if there are no children to the Participant’s estate. The Committee may rely upon the advice of the Participant’s executor or administrator as to the
identity of the Participant’s Spouse. 
 No election by a married Participant of a different Beneficiary shall be valid unless the
election is accompanied by the Spouse’s written consent, which (i) must acknowledge the effect of the election, (ii) must explicitly provide either that the designated Beneficiary may not subsequently be changed by the Participant
without the Spouse’s further consent, or that it may be changed without such consent, and (iii) must be witnessed by the Committee, its representative, or a notary public. (This requirement shall not apply if the Participant establishes to
the Committee’s satisfaction that the Spouse may not be located.) 
 “Break in Service” means any Plan Year, or, for
the initial eligibility computation period under Section 3.2, the 12-consecutive month period beginning on the first day of which an Employee has an Hour of Service, in which an Employee has 500 or fewer Hours of Service. Solely for this
purpose, an Employee shall be considered employed for his normal hours of paid employment during a Recognized Absence (said Employee shall not be credited with more than 501 Hours of Service to avoid a Break in Service), unless he does not resume
his Service at the end of the Recognized Absence. Further, if an Employee is absent for any period (i) by reason of the Employee’s pregnancy, (ii) by reason of the birth of the Employee’s child, (iii) by reason of the
placement of a child with the Employee in connection with the Employee’s adoption of the child, or (iv) for purposes of caring for such child for a period beginning immediately after such birth or placement, the Employee shall be credited
with the Hours of Service which would normally have been credited but for such absence, up to a maximum of 501 Hours of Service. Hours of Service shall be credited only in the year in which the absence from work begins, if a Participant would be
prevented from incurring a one-year Break in Service in such year solely because the period of absence is treated as Hours of Service, or in any other case, in the immediately following year. 

“Code” means the Internal Revenue Code of 1986, as amended. 

  
 2 

 “Committee” means the committee responsible for the administration of this Plan
in accordance with Section 12. Until the Committee is appointed, the Trustee shall carry out the duties and responsibilities of the Committee. 

“Company” means HopFed Bancorp, Inc., the holding company of the Bank, and any successor entity that succeeds to the business
of the Company and adopts this Plan as its own pursuant to Section 13.1 of the Plan. The Company is a C-corporation as such term is defined under Section 1361 of the Code. 

“Disability” means the inability 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 which has lasted or can be expected to last for a continuous period of not less than 12 months. The determination of Disability shall be made by the Plan Administrator. 

“Eligible Employee” means an Employee, other than an Employee identified in Section 3.4, who has performed 1,000 Hours
of Service in the applicable Eligibility Year in accordance with Section 3.2 and who has attained age 21. 
 If an individual is not
treated as an Employee by the Company, but is subsequently reclassified as or determined to be an Employee by a court, the Internal Revenue Service or any other governmental agency or authority, or if the Company is required to reclassify such
individual as an Employee as a result of such reclassification or determination (including any reclassification by the Company in settlement of any claim or action relating to such individual’s employment status), such individual shall not
become an Eligible Employee by reason of such reclassification or determination. 
 “Employee” means any individual who is
or has been employed by an Employer. “Employee” also means an individual employed by a leasing organization who, pursuant to an agreement between an Employer and the leasing organization, has performed services for the Employer and any
related persons (within the meaning of Section 414(n)(6) of the Code) on a substantially full-time basis for more than one year, if such services are performed under the primary direction or control of the Employer. However, such a “leased
employee” shall not be considered an Employee if (i) he participates in a money purchase pension plan sponsored by the leasing organization which provides for immediate participation, immediate full vesting, and an annual contribution of
at least 10 percent of the Employee’s 415 Compensation, and (ii) leased employees do not constitute more than 20 percent of the Employer’s total work force (including leased employees, but excluding Highly Compensated Employees and
any other Employees who have not performed services for the Employer on a substantially full-time basis for at least one year). 

“Employer” means the Company or any affiliate within the purview of Section 414(b), (c) or (m) and 415(h) of
the Code, any other corporation, partnership, or proprietorship which adopts this Plan with the Company’s consent pursuant to Section 13.1, and any entity which succeeds to the business of any Employer and adopts the Plan pursuant to
Section 13.1. As of the effective date of the Plan, Heritage Bank USA, Inc. is the only Employer other than the Company. 

  
 3 

 “Entry Date” means the Effective Date of the Plan and the first day of each
calendar quarter after the Effective Date. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 “415 Compensation” means: 

(a) Compensation actually paid or made available in gross income during such Limitation Year. 

(b) Any elective deferral as defined in Code Section 402(g)(3) (any Employer contributions made on behalf of a Participant
to the extent not includible in gross income and any Employer contributions to purchase an annuity contract under Code Section 403(b) under a salary reduction agreement) and any amount which is contributed or deferred by the Employer at the
election of the Participant and which is not includible in gross income of the Participant by reason of Code Section 125 (Cafeteria Plan), Code Section 457 or 132(f)(4) shall also be included in the definition of 415 Compensation. 

(c) Differential wage payments (as defined in Code Section 3401(h)), but only to the extent the payments do not exceed the
amount the individual would have received had he or she continued to perform services for the Employer. 
 (d) Payments made
within 2 1⁄2 months after severance from employment will be 415 Compensation within the meaning of Code Section 415(c)(3) if they are payments that,
absent a severance from employment, would have been paid to the Employee if the Employee continued in employment with the Employer and are regular compensation for services during the Employee’s regular working hours, compensation for services
outside the Employee’s regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar compensation. 415 Compensation includes payments made within 2 1⁄2 months after severance from employment if they are payments for accrued bona fide sick, vacation, or other leave, but only if the Employee would have been able to use the leave if employment had continued. Any
payments not described above are not considered Compensation if paid after severance from employment, even if they are paid within 2 1⁄2 months following
severance from employment, except for payments to an individual who does not currently perform services for the Employer by reason of qualified military service (within the meaning of Code Section 414(u)(1)) to the extent these payments do not
exceed the amounts the individual would have received if the individual had continued to perform services for the Employer rather than entering qualified military service. To the extent provided in Section 5.1-2 of Plan, 415 Compensation shall
include compensation paid to a Participant who is permanently and totally disabled. 
 (e) 415 Compensation in excess of
$265,000 (as indexed after 2015) shall be disregarded for all Participants. For purposes of this sub-section, the $265,000 limit shall be referred to as the “applicable limit” for the Plan Year in question. The $265,000 limit shall be
adjusted for increases in the cost of living in accordance with Section 401(a)(17)(B) of the Code, effective for the Plan Year which begins within the 

  
 4 

 
applicable calendar year. For purposes of the applicable limit, 415 Compensation shall be prorated over short Plan Years and only compensation for the portion of the Plan Year during which
the individual was a Participant shall be taken into account. 
 “Highly Compensated Employee” for any Plan Year means an
Employee who, during either that or the immediately preceding Plan Year was at any time a five percent owner of the Employer (as described in Code Section 416(i)(1)) or, during the immediately preceding Plan Year, had 415 Compensation exceeding
$115,000 (the threshold for 2014, which determines Highly Compensated Employees for 2015). The $115,000 amount is adjusted at the same time and in the same manner as under Code Section 415(d)). The determination of who is a Highly Compensated
Employee will be made in accordance with Code Section 414(q) and the regulations thereunder to the extent they are not inconsistent with the method established above. 

“Hours of Service” means hours to be credited to an Employee under the following rules: 

(a) Each hour for which an Employee is paid or is entitled to be paid for services to an Employer is an Hour of Service. 

(b) Each hour for which an Employee is directly or indirectly paid or is entitled to be paid for a period of vacation,
holidays, illness, disability, lay-off, jury duty, temporary military duty, or leave of absence is an Hour of Service. However, except as otherwise specifically provided, no more than 501 Hours of Service shall be credited for any single continuous
period which an Employee performs no duties. No more than 501 Hours of Service will be credited under this paragraph for any single continuous period (whether or not such period occurs in a single computation period). Further, no Hours of Service
shall be credited on account of payments made solely under a plan maintained to comply with worker’s compensation, unemployment compensation, or disability insurance laws, or to reimburse an Employee for medical expenses. 

(c) Each hour for which back pay (ignoring any mitigation of damages) is either awarded or agreed to by an Employer is an Hour
of Service. However, no more than 501 Hours of Service shall be credited for any single continuous period during which an Employee would not have performed any duties. The same Hours of Service will not be credited both under paragraph (a) or
(b) as the case may be, and under this paragraph (c). These hours will be credited to the employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award agreement or
payment is made. 
 (d) Hours of Service shall be credited in any one period only under one of the foregoing paragraphs (a),
(b) and (c); an Employee may not get double credit for the same period. 
 (e) If an Employer finds it impractical to
count the actual Hours of Service for any class or group of non-hourly Employees, each Employee in that class or group shall be credited with one of the following, in the discretion of the Plan Administrator: (1) 190 Hours of Services for each
month in which he has at least one hour of service; (2) 95 

  
 5 

 
Hours of Service for each semi-monthly pay period in which he has at least one hour of service; (3) 90 Hours of Service for each bi-weekly pay period in which he has at least one hour of
service; (4) 45 Hours of Services for each weekly pay period in which he has at least one hour of service; or (5) 10 Hours of Service for each for each day in which he has at least one hour of service. However, an Employee shall be
credited only for his normal working hours during a paid absence. 
 (f) Hours of Service to be credited on account of a
payment to an Employee (including back pay) shall be recorded in the period of Service for which the payment was made. If the period overlaps two or more Plan Years, the Hours of Service credit shall be allocated in proportion to the respective
portions of the period included in the several Plan Years. However, in the case of periods of 31 days or less, the Administrator may apply a uniform policy of crediting the Hours of Service to either the first Plan Year or the second. 

(g) In all respects an Employee’s Hours of Service shall be counted as required by Section 2530.200b-2(b) and
(c) of the Department of Labor’s regulations under Title I of ERISA. 
 “Investment Fund” means that portion of
the Trust Fund consisting of assets other than Stock. Notwithstanding the above, assets from the Investment Fund may be used to purchase Stock in the open market or otherwise, or used to pay on the Stock Obligation, and shares so purchased will be
allocated to a Participant’s Stock Fund. 
 “Investment Fund Accounts” means that portion of a Participants Account
consisting of assets other than Stock as described in Section 8.4 of the Plan. 
 “Normal Retirement” means
retirement on or after the Participant’s Normal Retirement Date. 
 “Normal Retirement Date” means the
Participant’s 65th birthday. 
 “Participant” means any Eligible
Employee who is an Active Participant participating in the Plan, or Eligible Employee or former Employee who was previously an Active Participant and still has a balance credited to his Account. 

“Plan Administrator” means the Committee. 

“Plan Compensation” means a Participant’s wages including all remuneration paid to an Employee by the Employer (in the
course of the Employer’s trade or business) for which the Employer is required to furnish the Employee a written statement under Code Sections 6041(d), 6051(a)(3) and 6052. Such amount must be determined without regard to any rules that limit
the remuneration included in wages based on the nature or location of the employment or the services performed. For purposes of applying the limitations of this paragraph, compensation paid or made available during a Limitation year shall include
any elective deferral (as defined in Code Section 402(g)(3)) or Roth elective deferrals, and any amount which is contributed or deferred by the Employer at the election of the Employee and which is not includible in the gross income of the
Employee by reasons of Code Sections 125, 132(f)(4), 402(e)(3), 402(h)(1), 

  
 6 

 
403(b), or 457. Plan Compensation shall exclude differential wage payments and certain fringe benefits including: reimbursements or other expense allowances, fringe benefits (cash and noncash),
moving expenses, deferred compensation, and welfare benefits, even if includable in gross income. Plan Compensation in excess of $265,000 (as indexed after 2015 pursuant to Section 401(a)(17)(B) of the Code) shall be disregarded for all
Participants. For purposes of the limit in the preceding sentence, Plan Compensation shall be prorated over short Plan Years, and only compensation for the portion of the Plan Year during which the individual was a Participant shall be taken into
account. 
 “Plan Year” means the twelve-month period commencing January 1 and ending December 31 and each period
of 12 consecutive months beginning on January 1 of each succeeding year. Notwithstanding the foregoing, the Plan may have a short Plan Year during its initial and final Plan Years, and as a result of any future change in the Plan Year. 

“Qualified Military Service” means any period of duty on a voluntary or involuntary basis in the United States Armed Forces,
the Army National Guard and Air National Guard when engaged in active duty for training, inactive duty for training or full-time National Guard duty, the commissioned corps of the Public Health Service and any other category of persons designated by
the President of the United States in time of war or emergency. Such periods of duty shall include active duty, active duty for training, initial active duty for training, inactive duty training, full-time National Guard duty and absence from
employment for an examination to determine fitness for such duty. 
 “Recognized Absence” means a period for which —

 (a) an Employer grants an Employee a leave of absence for a limited period, but only if an Employer grants such leave on a
nondiscriminatory basis; or 
 (b) an Employee is temporarily laid off by an Employer because of a change in business
conditions; or 
 (c) an Employee is on Qualified Military Service. 

“Service” means an Employee’s period(s) of employment or self-employment with an Employer, excluding for initial
eligibility purposes any period in which the individual was a nonresident alien and did not receive from an Employer any earned income which constituted income from sources within the United States. An Employee’s Service shall include any
Service that constitutes Service with a predecessor Employer within the meaning of Section 414(a) of the Code, provided, however, that Service with an acquired entity shall not be considered Service under the Plan unless required by applicable
law or agreed to by the parties to such transaction. If the Employer is a member of an affiliated service group (under Code section 414(m)), a controlled group of corporations (under Code section 414(b)), a group of trades or businesses under common
control (under Code section 414(c)) or any other entity required to be aggregated with the Employer pursuant to Code section 414(o), service will be credited for any employment with such groups during the time the Employer is a member of the
applicable group. Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to Qualified Military Service will be provided in accordance with Section 414(u) of the Code. 

  
 7 

 “Spouse” means the individual (of the same or opposite sex), if any, to whom a
Participant is lawfully married under the laws of any state or county on the date benefit payments to the Participant are to begin, or on the date of the Participant’s death, if earlier. A former Spouse shall be treated as the Spouse or
surviving Spouse to the extent provided under a qualified domestic relations order as described in Section 414(p) of the Code. 

“Stock” means common stock issued by the Employer (or by a corporation which is a member of the same controlled group) that
is readily tradable on an established securities market. If there is no common stock which meets the requirements above, the term “Stock” shall mean common stock issued by the employer (or by a corporation which is a member of the same
controlled group) having a combination of voting power and dividend rights equal to or in excess of (A) that class of common stock of the employer (or of any other such corporation) having the greatest voting power, and (B) that class of
common stock of the employer (or of any other such corporation) having the greatest dividend rights. The term Employer Securities will include fractional shares unless the context clearly indicates otherwise. 

For the purposes of the foregoing, Stock is “readily tradable on an established securities market” if the Stock is (a) traded
on a national securities exchange that is registered under section 6 of the Securities Exchange Act of 1934; (b) traded on a foreign national securities exchange that is officially recognized, sanctioned, or supervised by a governmental
authority and where the security is deemed by the Securities and Exchange Commission (SEC) as having a ready market under SEC Rule 15c3-1 (17 CFR 240.15c3-1); or (c) included on the FTSE Group All-World Index. 

“Stock Fund Account” The portion of a Participant’s Account that reflects such Participant’s interest in Stock held
under the Plan as described in Section 8.3 of the Plan. 
 “Stock Obligation” means an indebtedness arising from any
extension of credit to the Plan or the Trust which satisfies the requirements set forth in Section 6.3 and which was obtained for any or all of the following purposes: 
  

	 	(i)	to acquire qualifying Employer securities as defined in Treasury Regulations Section 54.4975-12; 

  

	 	(ii)	to repay such Stock Obligation; or 

  

	 	(iii)	to repay a prior exempt loan. 

 “Trust” or “Trust Fund” means the
trust fund created under this Plan. 
 “Trust Agreement” means the agreement between the Company and the Trustee concerning
the Trust Fund. If any assets of the Trust Fund are held in a co-mingled trust fund with assets of other qualified retirement plans, “Trust Agreement” shall be deemed to include the trust agreement governing that co-mingled trust fund.
With respect to the allocation of investment responsibility for the assets of the Trust Fund, the provisions of Section 2 of the Trust Agreement are incorporated herein by reference. 

  
 8 

 “Trustee” means one or more corporate persons or individuals selected from time
to time by the Company to serve as trustee or co-trustees of the Trust Fund. The Company and/or the individual (non-corporate) Trustees may select one or more corporate directed Trustees to hold plan assets, process voting of Stock, and to undertake
such other nondiscretionary tasks as may be assigned by the Committee, individual Trustees or the Company, subject to the provisions of the Trust Agreement. 

“Unallocated Stock Fund” means that portion of the Stock Fund consisting of the Plan’s holding of Stock which has been
acquired in exchange for one or more Stock Obligations and which has not yet been allocated to the Participant’s Accounts in accordance with Section 4.2. 

“Valuation Date” means, for so long as there is an established securities market for the Stock (as determined under Notice 2011-19), each business day. If at any time there shall be no generally-recognized market for the Stock, then “Valuation Date” shall mean the last day of the Plan Year and each other date as of
which the Committee shall determine the investment experience of the Investment Fund and adjust the Participants’ Accounts accordingly. 

“Valuation Period” means the period following a Valuation Date and ending with the next Valuation Date. 

“Vesting Year” means a unit of Service credited to a Participant pursuant to Section 9.2 for purposes of determining his
vested interest in his Account. 
  

	Section 3.	Eligibility for Participation. 

 3.1 Initial Eligibility. An Eligible
Employee shall enter the Plan as of the Entry Date coincident with or next following the last day of the Eligible Employee’s first Eligibility Year and attainment of age 21. Notwithstanding the foregoing, for the initial Plan Year only,
“Eligible Employee” means an Employee, other than an Employee identified in Section 3.4, who has met the Plan’s minimum age and service requirements, including the completion of the Employee’s first 12-month Eligibility
Year, as of the Plan’s Effective Date. 
 3.2 Eligibility Year. “Eligibility Year” means an applicable
eligibility period (as defined below) during which the Eligible Employee has completed 1,000 Hours of Service for the Employer. For this purpose: 

(i) an Eligible Employee’s first “eligibility period” is the 12-consecutive month period beginning on the first
day on which he has an Hour of Service; and 
 (ii) his subsequent eligibility periods will be 12-consecutive month periods
beginning on each January 1 after that first day of Service. 
 3.3 Terminated Employees. No Employee shall have any
interest or rights under this Plan if he is never in active Service with an Employer on or after the Effective Date. 

  
 9 

 3.4 Certain Employees Ineligible. 

3.4-1 No Employee shall participate in the Plan while his Service is covered by a collective bargaining agreement between an
Employer and the Employee’s collective bargaining representative if (i) retirement benefits have been the subject of good faith bargaining between the Employer and the representative and (ii) the collective bargaining agreement does
not provide for the Employee’s participation in the Plan. 
 3.4-2 The following shall not be eligible to participate in
the Plan: 
 (i) Interns. 

(ii) Leased Employees. 

(iii) Individuals not reflected on the Employer’s payroll, even if the individual is determined to be an Employee. 

(iv) Employees who are nonresident aliens with no earned income (within the meaning of Code Section 911(d)(2)) from the
Employer which constitutes income from sources within the United States (within the meaning of Code Section 861(a)(3)). 

3.4-3 Notwithstanding Section 3.1, an Employee may make a voluntary one-time irrevocable election not to participate in
the Plan. The election not to participate must be communicated to the Employer in accordance with such procedures as may be established by the Employer from time to time, but no later than the Employee’s Entry Date after meeting the
requirements under Section 3.1. 
 3.5 Participation and Reparticipation. Subject to satisfaction of the foregoing
requirements, an Eligible Employee shall participate in the Plan during each period of his Service from the date on which he first becomes eligible until his termination. For this purpose, an Eligible Employee who returns before five
(5) consecutive one year Breaks in Service who previously satisfied the initial eligibility requirements or who returns after five (5) consecutive one year Breaks in Service with a vested Account balance in the Plan shall re-enter the Plan
as of the date of his return to Service with an Employer. 
 3.6 Treatment of Qualified Military Service. Notwithstanding any
provision of this Plan to the contrary, contributions, benefits, and service credit with respect to Qualified Military Service will be provided in accordance with Code Section 414(u). 

 

	Section 4.	Contributions and Credits. 

 4.1 Discretionary Contributions. 

4.1-1 The Employer may from time to time contribute, with respect to a Plan Year, such amounts as it may determine from time to
time. The Employer shall have no obligation to contribute any amount under this Plan except as so determined in its sole discretion. The Employer’s contributions and available forfeitures for a Plan Year shall be credited as of the last day of
the year to the Accounts of the Active Participants in the manner set forth in Section 8.1-2. 
 4.1-2 Upon a
Participant’s reemployment after performing Qualified Military Service, the Employer shall make an additional contribution on behalf of such Participant that would have been made on his or her behalf during the Plan Year or Years corresponding
to the Participant’s Qualified Military Service. 

  
 10 

 4.2 Contributions for Stock Obligations. If the Trustee, upon instructions from the
Committee, incurs any Stock Obligation upon the purchase of Stock, the Employer may contribute for each Plan Year an amount sufficient to cover all payments of principal and interest as they come due under the terms of the Stock Obligation. If there
is more than one Stock Obligation, the Employer shall designate the one to which any contribution is to be applied. Investment earnings realized on Employer contributions and any dividends paid by the Employer on Stock held in the Unallocated Stock
Fund, shall be applied to the Stock Obligation related to that Stock, subject to Section 7.2. 
 In each Plan Year in which Employer
contributions, earnings on contributions, or dividends on Stock in the Unallocated Stock Fund are used as payments under a Stock Obligation, a certain number of shares of the Stock acquired with that Stock Obligation that are then held in the
Unallocated Stock Fund shall be released for allocation among the Participants. The number of shares released shall bear the same ratio to the total number of those shares then held in the Unallocated Stock Fund (prior to the release) as
(i) the principal and interest payments made on the Stock Obligation in the current Plan Year bears to (ii) the sum of (i) above, and the remaining principal and interest payments required (or projected to be required on the basis of
the interest rate in effect at the end of the Plan Year) to satisfy the Stock Obligation. 
 At the direction of the Committee, the current
and projected payments of interest under a Stock Obligation may be ignored in calculating the number of shares to be released in each year if (i) the Stock Obligation provides for annual payments of principal and interest at a cumulative rate
that is not less rapid at any time than level annual payments of such amounts for 10 years, (ii) the interest included in any payment is ignored only to the extent that it would be determined to be interest under standard loan amortization
tables, and (iii) the term of the Stock Obligation, by reason of renewal, extension, or refinancing, has not exceeded 10 years from the original acquisition of the Stock. 

4.3 Conditions as to Contributions. Employers’ contributions shall in all events be subject to the limitations set forth in
Section 5. Contributions may be made in the form of cash, or securities and other property to the extent permissible under ERISA, including Stock, and shall be held by the Trustee in accordance with the Trust Agreement. In addition to the
provisions of Section 13.2 for the return of an Employer’s contributions in connection with a failure of the Plan to qualify initially under the Code, any amount contributed by an Employer due to a good faith mistake of fact, or based upon
a good faith but erroneous determination of its deductibility under Section 404 of the Code, shall be returned to the Employer within one year after the date on which the contribution was originally made, or within one year after its
nondeductibility has been finally determined. However, the amount to be returned shall be 

  
 11 

 
reduced to take account of any adverse investment experience within the Trust Fund in order that the balance credited to each Participant’s Account is not less that it would have been if the
contribution had never been made. 
 4.4 Rollover Contributions. This Plan shall not accept a direct rollover or rollover
contribution of an “eligible rollover distribution” as such term is defined in Section 10.9-1 of the Plan. 
  

	Section 5.	Limitations on Contributions and Allocations. 

 5.1 Limitation on Annual
Additions. Notwithstanding anything herein to the contrary, allocation of Employer contributions for any Plan Year shall be subject to the following: 

5.1-1 The annual additions during any Plan Year to any Participant’s Account under this and any other defined contribution
plans maintained by the Employer or an affiliate (within the purview of Section 414(b), (c) and (m) and Section 415(h) of the Code, which affiliate shall be deemed the Employer for this purpose) shall not exceed the lesser of
$53,000 (or such other dollar amount which results from cost-of-living adjustments under Section 415(d) of the Code after 2015) (the “dollar limitation”) or 100 percent of the Participant’s 415 Compensation for such limitation
year (the “percentage limitation”). In the event Stock is released from the Unallocated Stock Fund and allocated to a Participant’s account for a particular Plan Year, the Employer may determine for such year that an annual addition
shall be calculated on the basis of the fair market value of the Stock so released and allocated (such fair market value to be based on the valuation as of the Valuation Date immediately preceding the Plan Year in respect of which the release and
allocation are made) if the annual addition, as so calculated, is lower than the annual addition calculated on the basis of Employer contributions. The percentage limitation shall not apply to any contribution for medical benefits after severance
from employment (within the meaning of Section 401(h) or Section 419A(f)(2) of the Code) which is otherwise treated as an annual addition. Notwithstanding the foregoing, For purposes of this Section 5.1-2, for a Participant who is
permanently and totally disabled (as defined in Code section 22(e)(3)), 415 Compensation is the compensation such Participant would have received for the Limitation Year if the Participant had been paid at the rate of compensation paid immediately
before becoming permanently and totally disabled. 
 If, as a result of the allocation of forfeitures, a reasonable error in estimating a
Participant’s annual compensation, a reasonable error in determining the amount of elective deferrals (within the meaning of Code Section 402(g)(3)) that may be made with respect to any individual under the limits of Code Section 415,
or under other limited facts and circumstances that the Commissioner of the Internal Revenue Service finds justify the availability of the rules set forth in this paragraph, the annual additions under the terms of the Plan for a particular
Participant would cause the limitations of Code Section 415 applicable to that Participant for the limitation year to be exceeded, the Plan may only correct such excess in accordance with the Employee Plans Compliance Resolution System (EPCRS)
as set forth in Revenue Procedure 2013-12 or any subsequent guidance. 

  
 12 

 5.1-2 For purposes of this Section 5.1, the “annual addition” to a
Participant’s Accounts means the sum of (i) Employer contributions, (ii) Employee contributions, if any, and (iii) forfeitures. For these purposes, annual additions to a defined contribution plan shall not include the allocation
of the excess amounts remaining in the Unallocated Stock Fund subsequent to a sale of stock from such fund in accordance with a transaction described in Section 8.1 of the Plan. Notwithstanding the foregoing, “annual additions” shall
not include a restorative payment in accordance with Treasury Regulation Section 1.415(c)-1(b)(2)(ii)(C) that is made to restore losses to the Plan resulting from actions by a fiduciary for which there is a reasonable risk of liability for
breach of fiduciary duty under ERISA or other applicable federal and state law. 
 5.1-3 Notwithstanding the foregoing, if no
more than one-third of the Employer contributions to the Plan for a year which are deductible under Section 404(a)(9) of the Code are allocated to Highly Compensated Employees (within the meaning of Section 414(q) of the Internal Revenue
Code), the limitations imposed herein shall not apply to: 
 (i) forfeitures of Employer securities (within the meaning of
Section 409 of the Code) under the Plan if such securities were acquired with the proceeds of a loan described in Section 404(a)(9)(A) of the Code); or 

(ii) Employer contributions to the Plan which are deductible under Section 404(a)(9)(B) and charged against a
Participant’s Account. 
 5.1-4 If the Employer contributes amounts, on behalf of Eligible Employees covered by this
Plan, to other “defined contribution plans” as defined in Section 3(34) of ERISA, the limitation on annual additions provided in this Section shall be applied to annual additions in the aggregate to this Plan and to such other plans.
Reduction of annual additions, where required, shall be accomplished first by reductions under such other plan pursuant to the directions of the named fiduciary for administration of such other plans or under priorities, if any, established under
the terms of such other plans and then by allocating any remaining excess for this Plan in the manner and priority set out above with respect to this Plan. 

5.1-5 A “limitation year” shall mean each 12 consecutive month period ending on December 31. 

5.2 Effect of Limitations. The Committee shall take whatever action may be necessary from time to time to assure compliance with
the limitations set forth in Section 5.1. Specifically, the Committee shall see that each Employer restricts its contributions for any Plan Year to an amount which, taking into account the amount of available forfeitures, may be completely
allocated to the Participants consistent with those limitations. Where the limitations would otherwise be exceeded by any Participant, further allocations to the Participant shall be curtailed to the extent necessary to satisfy the limitations.
Where an excessive amount is 

  
 13 

 
contributed on account of a mistake as to one or more Participants’ compensation, or there is an amount of forfeitures which may not be credited in the Plan Year in which it becomes
available, the amount shall be corrected in accordance with Section 5.1-2 of the Plan. If it is determined at any time that the Committee and/or Trustee has erred in accepting and allocating any contributions or forfeitures under this Plan, or
in allocating net gain or loss pursuant to Section 8, then the Committee, in a uniform and nondiscriminatory manner, shall determine the manner in which such error shall be corrected and shall promptly advise the Trustee in writing of such
error and of the method for correcting such error. The Accounts of any or all Participants may be revised, if necessary, in order to correct such error. 

5.3 Limitations as to Certain Participants. Aside from the limitations set forth in Section 5.1, if the Plan acquires any
Stock in a transaction as to which a selling shareholder or the estate of a deceased shareholder is claiming the benefit of Section 1042 of the Code, the Committee shall see that none of such Stock, and no other assets in lieu of such Stock,
are allocated to the Accounts of certain Participants in order to comply with Section 409(n) of the Code. This restriction shall apply at all times to a Participant who owns (taking into account the attribution rules under Section 318(a)
of the Code, without regard to the exception for employee plan trusts in Section 318(a)(2)(B)(i)) more than 25 percent of any class of stock of a corporation which issued the Stock acquired by the Plan, or another corporation within the same
controlled group, as defined in Section 409(l)(4) of the Code (any such class of stock hereafter called a “Related Class”). For this purpose, a Participant who owns more than 25 percent of any Related Class at any time within the one
year preceding the Plan’s purchase of the Stock shall be subject to the restriction as to all allocations of the Stock, but any other Participant shall be subject to the restriction only as to allocations which occur at a time when he owns more
than 25 percent of any Related Class. 
 Further, this restriction shall apply to the selling shareholder claiming the benefit of
Section 1042 and any other Participant who is related to such a shareholder within the meaning of Section 267(b) of the Code, during the period beginning on the date of sale and ending on the later of (1) the date that is ten years
after the date of sale, or (2) the date of the Plan allocation attributable to the final payment of acquisition indebtedness incurred in connection with the sale. 

This restriction shall not apply to any Participant who is a lineal descendant of a selling shareholder if the aggregate amounts allocated
under the Plan for the benefit of all such descendants do not exceed five percent of the Stock acquired from the shareholder. 
 5.4
Erroneous Allocations. No Participant shall be entitled to any annual additions or other allocations to his Account in excess of those permitted under Section 5. If it is determined at any time that the Plan Administrator and/or
Trustee have erred in accepting and allocating any contributions or forfeitures under this Plan, or in allocating investment adjustments, or in excluding or including any person as a Participant, then the Plan Administrator, in a uniform and
nondiscriminatory manner, shall determine the manner in which such error shall be corrected, after taking into consideration Sections 3.6 and 3.7 and any revenue procedure or other notice published by the Internal Revenue Service regarding
permissible correction methods, if applicable, and shall promptly advise the Trustee in writing of such error and of the method for correcting such error. The Accounts of any or all Participants may be revised, if necessary, in order to correct such
error. 

  
 14 

	Section 6.	Trust Fund and Its Investment. 

 6.1 Creation of Trust Fund. All amounts
received under the Plan from Employers and investments shall be held as the Trust Fund pursuant to the terms of this Plan and of the Trust Agreement between the Company and the Trustee. The benefits described in this Plan shall be payable only from
the assets of the Trust Fund, and none of the Company, any other Employer, its board of directors or trustees, its stockholders, its officers, its employees, the Committee, and the Trustee shall be liable for payment of any benefit under this Plan
except from the Trust Fund. 
 6.2 Stock Fund and Investment Fund. The Trust Fund held by the Trustee shall be divided into
the Stock Fund, consisting entirely of Stock, and the Investment Fund, consisting of all assets of the Trust other than Stock. The Trustee shall have no investment responsibility for the Stock Fund, but shall accept any Employer contributions made
in the form of Stock, and shall acquire, sell, exchange, distribute, and otherwise deal with and dispose of Stock in accordance with the instructions of the Committee. The Trustee shall have full responsibility for the investment of the Investment
Fund, except to the extent such responsibility may be delegated from time to time to one or more investment managers pursuant to Section 2.3 of the Trust Agreement, or to the extent the Committee directs the Trustee to purchase Stock with the
assets in the Investment Fund. 
 6.3 Acquisition of Stock. From time to time the Company or the Committee may, in its sole
discretion, direct the Trustee to acquire Stock from the issuing Employer or from shareholders, including shareholders who are or have been Employees, Participants, or fiduciaries with respect to the Plan. The Trustee shall cause the Plan to pay for
such Stock no more than its fair market value, which shall be determined conclusively by the Committee pursuant to Section 12.4. The Company or the Committee may direct the Trustee to finance the acquisition of Stock by incurring or assuming
indebtedness to the seller or another party, which indebtedness shall be called a “Stock Obligation.” The term “Stock Obligation” shall refer to a loan made to the Plan by a disqualified person within the meaning of
Section 4975(e)(2) of the Code, or a loan to the Plan which is guaranteed by a disqualified person. A Stock Obligation includes a direct loan of cash, a purchase-money transaction, and an assumption of an obligation of a tax-qualified employee
stock ownership plan under Section 4975(e)(7) of the Code (“ESOP”). For these purposes, the term “guarantee” shall include an unsecured guarantee and the use of assets of a disqualified person as collateral for a loan, even
though the use of assets may not be a guarantee under applicable state law. An amendment of a Stock Obligation in order to qualify as an “exempt loan” is not a refinancing of the Stock Obligation or the making of another Stock Obligation.
The term “exempt loan” refers to a loan that is primarily for the benefit of the Plan participants and their beneficiaries and that satisfies the provisions of this paragraph. A “non-exempt loan” fails to satisfy this paragraph.
Any Stock Obligation shall be subject to the following conditions and limitations: 
 6.3-1 The loan shall be primarily for
the benefit of Participants and their Beneficiaries. 
 6.3-2 A Stock Obligation shall be for a specific term, shall not be
payable on demand except in the event of default, and shall bear a reasonable rate of interest. 

  
 15 

 6.3-3 A Stock Obligation may, but need not, be secured by a collateral pledge of
either the Stock acquired in exchange for the Stock Obligation, or the Stock previously pledged in connection with a prior Stock Obligation which is being repaid with the proceeds of the current Stock Obligation. No other assets of the Plan and
Trust may be used as collateral for a Stock Obligation, and no creditor under a Stock Obligation shall have any right or recourse to any Plan and Trust assets other than Stock remaining subject to a collateral pledge. 

6.3-4 Any pledge of Stock to secure a Stock Obligation must provide for the release of pledged Stock in connection with
payments on the Stock obligations in the ratio prescribed in Section 4.2. 
 6.3-5 Repayments of principal and interest
on any Stock Obligation shall be made by the Trustee only from Employer cash contributions designated for such payments, from earnings on such contributions, and from cash dividends received on Stock, in the last case, however, subject to the
further requirements of Section 7.2. The payment on the Stock Obligation during the Plan Year must not exceed an amount equal to the sum of contributions and earnings received during such year or prior to such year, less such payments in prior
years. Notwithstanding the foregoing, the Trustee may prepay a Stock Obligation in whole or in part to the extent provided under the terms of the Stock Obligation. Such contributions and earnings must be accounted for separately in the books and
accounts of the Plan until the Stock Obligation is fully repaid. 
 6.3-6 In the event of default of a Stock Obligation, the
value of Plan assets transferred in satisfaction of the Stock Obligation must not exceed the amount of the default. If the lender is a disqualified person within the meaning of Section 4975 of the Code, a Stock Obligation must provide for a
transfer of Plan assets upon default only upon and to the extent of the failure of the Plan to meet the payment schedule of said Stock Obligation. For purposes of this paragraph, the making of a guarantee does not make a person a lender. 

6.3-7 Proceeds from the Stock Obligation cannot be used to purchase key person life insurance. 

6.4 Participants’ Option to Diversify. The Committee shall provide for a procedure under which each Participant may, during
the qualified election period, elect to “diversify” a portion of the Stock allocated to his Account, as provided in Section 401(a)(28)(B) of the Code. An election to diversify must be made on the prescribed form and filed with the
Committee within the period specified herein. For each of the first five (5) Plan Years in the qualified election period, the Participant may elect to diversify an amount which does not exceed a total of 25% of the number of shares allocated to
his Account since the inception of the Plan, less all shares with respect to which an election under this Section has already been made. For the last year of the qualified election period, the Participant may elect to have up to 50 percent of the
value of his Account committed to other investments, less all shares with respect to which an election under this Section has already been made. The term “qualified election period” shall mean the six (6) Plan Year period beginning
with the first Plan Year in which a Participant has both attained age 55 and completed 10 years of Service. A Participant’s election to diversify his 

  
 16 

 
Account may be made within each year of the qualified election period and shall continue for the 90-day period immediately following the last day of each year in the qualified election period.
Once a Participant makes such election, the Plan must complete diversification in accordance with such election within 90 days after the end of the period during which the election could be made for the Plan Year. In the discretion of the Committee,
the Plan may satisfy the diversification requirement by any of the following methods: 
 6.4-1 The Plan may offer the
Participant at least three other distinct investment options, if available under the Plan. The other investment options shall be designed to satisfy the requirements of Regulations under Section 404(c) of the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”). 
 6.4-2 The Plan may transfer the portion of the Participant’s Account
subject to the diversification election to another qualified defined contribution plan of the Employer that offers at least three investment options satisfying the requirements of the Regulations under Section 404(c) of ERISA, such as the
Heritage Bank 401(k) Plan. 
 6.5 Post-Service Investments. If any part of a
Participant’s Account is retained in the Trust after his Service ends, his Accounts will continue to be treated as described in Section 8. However, unless the Participant was an Active Participant during a portion of the Plan Year at
issue, such Accounts shall not be credited with any additional contributions. To the extent that sufficient liquid assets are held by the Trust (i.e., other than Stock), the Committee shall diversify the Accounts of terminated Participants
and invest such amounts in Trust assets other than Stock. Any diversification or investment of a terminated Participant’s Accounts made pursuant to this Section 6.5 shall be made under the following method: 

6.5-1 Transfer and Exchange. The Committee shall annually execute an exchange between terminated Participants’ Stock held
in the terminated Participants’ Stock Fund Account and cash or other Trust assets held in one or more Active Participants’ Accounts, but only if the aggregate fair market value of the Stock held in the terminated Participants’ Stock
Fund Account exceeds $5,000, but only to the extent that cash or other liquid assets are held in Active Participants’ Investment Fund Accounts. The value of the Stock shall be determined based on the most recent fair market value of the Stock
as of last applicable Valuation Date. Stock subject to the exchange shall be credited evenly to the Active Participants’ Investment Fund Accounts, and cash or other assets shall be debited pro rata from each of the Active Participants’
Investment Fund Accounts, based on the fair market value of such Accounts on of the date of the transfer; however, no exchanges shall occur with respect to any Stock that has been diversified in part or in whole in accordance with Sections
401(a)(28)(B) or 401(a)(35) of the Code, as applicable. 
  

	Section 7.	Voting Rights and Dividends on Stock. 

 7.1 Voting and Tendering of Stock.

 7.1-1 The Trustee generally shall vote all shares of Stock held under the Plan in accordance with the written instructions
of the Committee. However, if any Employer 

  
 17 

 
has a registration-type class of securities within the meaning of Section 409(e)(4) of the Code, or if a matter submitted to the holders of the Stock involves a merger, consolidation,
recapitalization, reclassification, liquidation, dissolution, or sale of substantially all assets of an entity, then (i) the shares of Stock which have been allocated to Participants’ Accounts shall be voted by the Trustee in accordance
with the Participants’ written instructions, and (ii) the Trustee shall vote any unallocated Stock, allocated Stock for which it has received no voting instructions, and Stock for which Participants vote to “abstain,” in the same
proportions as it votes the allocated Stock for which it has received instructions from Participants. In the event no shares of Stock have been allocated to Participants’ Accounts at the time Stock is to be voted and any exempt loan which may
be outstanding is not in default, each Participant shall be deemed to have one share of Stock allocated to his or her Account, for the sole purpose of providing the Trustee with voting instructions. 

Notwithstanding any provision hereunder to the contrary, all unallocated shares of Stock must be voted by the Trustee in a manner determined by
the Trustee to be for the exclusive benefit of the Participants and Beneficiaries. Whenever such voting rights are to be exercised, the Employers shall provide the Trustee, in a timely manner, with the same notices and other materials as are
provided to other holders of the Stock, which the Trustee shall distribute to the Participants. The Participants shall be provided with adequate opportunity to deliver their instructions to the Trustee regarding the voting of Stock allocated to
their Accounts. The instructions of the Participants’ with respect to the voting of allocated shares hereunder shall be confidential. 

7.1-2 In the event of a tender offer, Stock shall be tendered by the Trustee in the same manner as set forth above in
Section 7.1-1 with respect to the voting of Stock. Notwithstanding any provision hereunder to the contrary, Stock must be tendered by the Trustee in a manner determined by the Trustee to be for the exclusive benefit of the Participants and
Beneficiaries. 
 7.2 Application of Dividends. 

7.2-1 Stock Dividends. Stock dividends that are received by the Trustee in the form of additional Stock shall be
retained in the Stock Fund, and shall be allocated among the Participants’ Accounts and the Unallocated Stock Fund in accordance with their holdings of the Stock on which the dividends are paid. 

7.2-2 Cash Dividends. The treatment of dividends paid in cash shall be determined after consideration to whether the
cash dividends are paid on Stock held in Participants’ Accounts or the Unallocated Stock Fund. 
 (i) On Stock in
Participants’ Accounts. (A) Employer Exercises Discretion. Dividends on Stock credited to Participants’ Accounts which are received by the Trustee in the form of cash shall, at the direction of the Employer paying the
dividends, either (I) be credited to the Accounts in accordance with Section 8.4(iii) and invested as part of the Investment Fund; (II) be distributed immediately to the Participants in proportion with the Participants’ Stock
Fund 

  
 18 

 
Account balance; (III) be distributed to the Participants within 90 days of the close of the Plan Year in which paid in proportion with the Participants’ Stock Fund Account balance; or
(IV) be used to make payments on the Stock Obligation. If dividends on Stock allocated to a Participant’s Account are used to repay the Stock Obligation, Stock with a fair market value equal to the dividends so used must be allocated to
such Participant’s Account in lieu of the dividends. 
 (B) Participant Exercises Discretion over Dividend. In
addition, in the sole discretion of the Employer, the Employer may grant Participants the right to elect: (I) to have cash dividends paid on shares of Stock credited to such Participants’ Stock Fund Accounts distributed to the Participant,
or (II) to leave the cash dividends allocated to the Participant’s Account in the Plan, to be credited to the Stock Fund Account and invested in shares of Stock. Dividends on which such election may be made will be fully vested in the
Participant (even if not otherwise vested, absent the ability to make such election). Accordingly, the Employer may choose to offer this election only to Participants who are fully vested in their Account. In the event the Employer elects to give
Participants the right to determine the treatment of such dividends, the Participant’s election shall be made by filing with the Committee the appropriate written direction as provided by the Committee at such time and in accordance with such
procedures and limitations which the Committee may from time to time establish; provided, however, that the procedures established by the Committee shall provide a reasonable opportunity to change the election at least annually, may establish a
default election if a Participant fails to make an affirmative election within the time established for making elections, may provide that the election is applicable for the Plan Year and cannot be revoked with respect to such Plan Year, shall
otherwise be implemented in a manner such that the dividends paid or reinvested will constitute “applicable dividends” which may be deducted under Code Section 404(k), and are in accordance with applicable guidance issued or to be
issued by the Secretary of the Treasury. If the Employer elects to give Participants the right to exercise the discretion in this Section 7.2-2(i)(B), the ability to make such election shall be available to the Participant with respect to
dividends paid for the entire Plan Year. 
 (ii) On Stock in the Unallocated Stock Fund. Dividends received on shares
of Stock held in the Unallocated Stock Fund shall be applied to the repayment of principal and interest then due on the Stock Obligation used to acquire such shares. If the amount of dividends exceeds the amount needed to repay such principal and
interest (including any prepayments of principal and interest deemed advisable by the Employer), then in the sole discretion of the Committee, the excess shall: (A) be allocated to Active Participants on a non-discriminatory basis, consistent
with Section 7.2-2(i) above, and in the discretion of the Committee, treated as a dividend described in such Section, or (B) be deemed to be general earnings of the Trust Fund and used for paying appropriate Plan or Trust related
expenditures for the Plan Year. Notwithstanding the foregoing, dividends paid on a share of Stock may not be used to make payments on a particular Stock Obligation unless the share was acquired with the proceeds of such loan or a refinancing of such
loan. 

  
 19 

	Section 8.	Adjustment to Accounts 

 8.1 ESOP Allocations. Amounts available for
allocation for a particular Plan Year will be divided into two categories. The first category relates to shares of Stock released from the Unallocated Stock Fund attributable to using cash dividends to make Stock Obligation payments. The second
category relates to contributions made by the Employer, shares of Stock released from the Unallocated Stock Fund on the basis of Employer contributions (or on the basis of the complete repayment of the Stock Obligation through the sale or other
disposition of Stock in the Unallocated Stock Fund) and amounts forfeited from Stock Fund Accounts pursuant to Section 9.5. 

8.1-1 Shares of Stock attributable to the first category will be allocated to the Stock Fund Accounts of eligible Participants
as follows: 
 (i) first, if dividends paid on shares of Stock held in Participants’ Stock Fund Accounts are used to
make payments on a Stock Obligation, there shall be allocated to each such account a number of shares of Stock released from the Unallocated Stock Fund with a fair market value (determined as of the Valuation Date coincident with or immediately
preceding the loan payment date) that at least equals the amount of dividends so used; 
 (ii) second, if necessary, any
remaining shares of Stock shall be applied to reinstate amounts forfeited from Stock Fund Accounts of former employees who are entitled to a reinstatement under Section 9.5; and 

(iii) finally, any remaining shares of Stock shall be allocated as a general investment gain in proportion to the number of
shares held in the Active Participants’ Stock Fund Accounts as of the last Valuation Date of the Plan Year for which they are allocated in the same manner as described in Section 7.2-2(i). 

8.1-2 Shares of Stock or cash attributable to the second category (i.e., Employer contributions, Stock released from the
Unallocated Stock Fund on the basis of Employer contributions, and amounts forfeited) will be allocated to the Stock Fund Accounts or Investment Fund Accounts, as the case may be, pro rata, in proportion to the Plan Compensation of each Active
Participant that was earned by such Participant during the period of the Plan Year in which such person participated in the Plan compared to total Plan Compensation for all Active Participants. 

8.1-3 Shares of Stock or cash attributable to contributions made under Section 4.1-2 shall be allocated specifically to
the Participants on whose behalf such contributions were made. 
 8.2 Charges to Accounts. When a Valuation Date occurs, any
distributions made to or on behalf of any Participant or Beneficiary since the last preceding Valuation Date shall be charged to the proper Accounts maintained for that Participant or Beneficiary. 

  
 20 

 8.3 Stock Fund Account. Subject to the provisions of Sections 5 and 8.1, as of
the last day of each Plan Year, the Trustee shall credit to each Participant’s Stock Fund Account: (i) the Participant’s allocable share of Stock purchased by the Trustee or contributed by the Employer to the Trust Fund for that year;
(ii) the Participant’s allocable share of the Stock that is released from the Unallocated Stock Fund for that year; (iii) the Participant’s allocable share of any forfeitures of Stock arising under the Plan during that year; and
(iv) any stock dividends declared and paid during that year on Stock credited to the Participant’s Stock Fund Account. If, in any Plan Year during which an outstanding Stock Obligation exists, the Employer directs the Trustee to sell or
otherwise dispose of a number of shares of Stock in the Unallocated Stock Fund sufficient to repay, in its entirety, the Stock Obligations, and following such repayment, there remains Stock or other assets in the Unallocated Stock Fund, such Stock
or other assets shall be allocated as of the last day of the Plan Year in which the repayment occurred as earnings of the Plan to Active Participants, in proportion to the number of shares held in Active Participants’ Stock Fund Accounts. 

8.4 Investment Fund Account. Subject to the provisions of Sections 5 and 8.1 as of the last day of each Plan Year, the Trustee
shall credit to each Participant’s Investment Fund Account: (i) the Participant’s allocable share of any contribution for that year made by the Employer in cash or in property other than Stock that is not used by the Trustee to
purchase Employer Stock or to make payments due under a Stock Obligation; (ii) the Participant’s allocable share of any forfeitures from the Investment Fund Accounts of other Participants arising under the Plan during that year;
(iii) any cash dividends paid during that year on Stock credited to the Participant’s Stock Fund Account, other than dividends which are paid directly to the Participant and other than dividends which are used to repay Stock Obligation;
and (iv) the share of the net income or loss of the Trust Fund properly allocable to that Participant’s Investment Fund Account, as provided in Section 8.5. 

8.5 Adjustment to Value of Trust Fund. As of the last day of each Plan Year, the Trustee shall determine: (i) the net worth
of that portion of the Trust Fund which consists of properties other than Stock (the “Investment Fund”); and (ii) the increase or decrease in the net worth of the Investment Fund since the last day of the preceding Plan Year. The net
worth of the Investment Fund shall be the fair market value of all properties held by the Trustee under the Trust Agreement other than Stock, net of liabilities other than liabilities to Participants and their beneficiaries. The Trustee shall
allocate to the Investment Fund Account of each Participant that percentage of the increase or decrease in the net worth of the Investment Fund equal to the ratio which the balances credited to the Participant’s Investment Fund Account bear to
the total amount credited to all Participants’ Investment Fund Accounts. This allocation shall be made after application of Section 7.2, but before application of Sections 5.1, 8.1, and 8.4. 

8.6 Participant Statements. Each Participant shall receive, at least annually, a statement of his or her Account and the vested
percentage thereof. 
  

	Section 9.	Vesting of Participants’ Interests. 

 9.1 Vesting in Accounts A
Participant’s vested interest in his Account shall be based on his Vesting Years in accordance with the following table, subject to this Section 9: 
  

					
	 Vesting Years
	  	Percentage of
Interest Vested	 
	 Fewer than 1
	  	 	0	% 
	 1 but fewer than 2
	  	 	0	% 
	 2 but fewer than 3
	  	 	20	% 
	 3 but fewer than 4
	  	 	40	% 
	 4 but fewer than 5
	  	 	60	% 
	 5 but fewer than 6
	  	 	80	% 
	 6 or more
	  	 	100	% 

  
 21 

 9.2 Computation of Vesting Years. For purposes of this Plan, a “Vesting
Year” means generally a Plan Year in which an Eligible Employee has performed at least 1,000 Hours of Service, beginning with the first Plan Year in which the Eligible Employee has completed an Hour of Service with the Employer, and including
Service with other Employers as provided in the definition of “Service.” Notwithstanding the above, an Eligible Employee who was employed with the Employer prior to the Effective Date shall receive full credit for vesting purposes for each
calendar year, up to 6 years of continuous employment with the Employer in which such Eligible Employee completed 1,000 Hours of Service (such years shall also be referred to as “Vesting Years”). However, a Participant’s Vesting Years
shall be computed subject to the following conditions and qualifications: 
 9.2-1 A Participant’s Vesting Years shall
include any Service prior to the date on which an Employee attains age 18. 
 9.2-2 To the extent applicable, a
Participant’s vested interest in his Account accumulated before five (5) consecutive one year Breaks in Service shall be determined without regard to any Service after such five consecutive Breaks in Service. Further, if a Participant has
five (5) consecutive one year Breaks in Service before his interest in his Account has become vested to some extent, pre-Break in Service years of Service shall not be required to be taken into account for purposes of determining his post-Break
in Service vested percentage. 
 9.2-3 To the extent applicable, in the case of a Participant who has five (5) or more
consecutive one year Breaks in Service, the Participant’s pre-Break in Service will count in vesting of the Employer-derived post-Break in Service accrued benefit only if either: 

(i) such Participant has any nonforfeitable interest in the accrued benefit attributable to Employer contributions at the time
of severance from employment; or 
 (ii) upon returning to Service the number of consecutive one year Breaks in Service is
less than the number of years of Service. 

  
 22 

 9.2-4 Notwithstanding any provision of the Plan to the contrary, calculation of
service for determining Vesting Years with respect to Qualified Military Service will be provided in accordance with Section 414(u) of the Code. 

9.2-5 To the extent applicable, if any amendment changes the vesting schedule, including an automatic change to or from a
top-heavy vesting schedule, any Participant with three (3) or more Vesting Years may, by filing a written request with the Employer, elect to have his vested percentage computed under the vesting schedule in effect prior to the amendment. The
election period must begin no later than the later of sixty (60) days after the amendment is adopted, the amendment becomes effective, or the Participant is issued written notice of the amendment by the Employer or the Committee. 

9.3 Full Vesting Upon Certain Events. 

9.3-1 Notwithstanding Section 9.1, a Participant’s interest in his Account shall fully vest on the Participant’s
Normal Retirement Date. The Participant’s interest in his or her Account shall also fully vest in the event that his Service is terminated by Disability or by death. Participants who die while performing Qualified Military Service shall be
deemed to be fully vested, in accordance with the Heroes Earnings Assistance and Relief Tax Act of 2008 (“HEART”). 

9.3-2 The Participant’s interest in his Account shall also fully vest in the event of a “Change in Control.” For
these purposes, “Change in Control” shall mean: (i) a change in control of the Company, of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities
Exchange Act of 1934, as amended (“Exchange Act”) or any successor thereto, whether or not any security of the Company is registered under Exchange Act; provided that, without limitation, such a Change in Control shall be deemed to have
occurred if any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, or securities of the
Company representing more than 50% of the combined voting power of the Company then outstanding securities; (ii) during any period of two consecutive years, individuals (the “Continuing Directors”) who at the beginning of such period
constitute the Board of Directors (the “Existing Board”) of the Company cease for any reason to constitute at least two-thirds thereof, provided that any individual whose election or nomination for election as a member of the Existing
Board was approved by a vote of at least two-thirds of the Continuing Directors then in office shall be considered a Continuing Director unless his or her initial assumption of office occurs as a result of an actual or threatened contest with
respect to the election or removal of directors or other actual or threatened solicitation of proxies by or on behalf of someone other than a Continuing Director; (iii) the acquisition of ownership, holding or power to vote more than 50% of the
voting stock of the Bank by any person other than the Company; (iv) the Company or the Bank transfers substantially all of its assets to another corporation or entity which is not an affiliate of the Company or the Bank; (v) the Company or
the Bank is merged or consolidated with another corporation or entity and, as a result of such merger or consolidation, less than sixty percent (60%) of the combined voting power in the surviving or resulting

  
 23 

 
corporation is owned by the former shareholders of the Company or the Bank; or (vi) a change in the ownership of the Company or the Bank, a change in the effective control of the Company or
the Bank or a change in the ownership of a substantial portion of the assets of the Company or the Bank, in each case as provided under Section 409A of the Code and the regulations thereunder. In no event, however, shall a Change in
Control be deemed to have occurred as a result of any acquisition of securities or assets of the Company, the Bank or a subsidiary of either of them, by the Company, the Bank, any subsidiary of either of them, or by any employee benefit plan
maintained by any of them. For purposes of this Section 11(b), the term “person” shall include the meaning assigned to it under Sections 13(d)(3) or 14(d)(2) of the Exchange Act. 

9.3-3 Upon a Change in Control described in Section 9.3-2, the Plan shall be terminated and the Plan Administrator shall
direct the Trustee to sell a sufficient amount of Stock from the Unallocated Stock Fund to repay any outstanding Stock Obligation in full. The proceeds of such sale shall be used to repay such Stock Obligation. After repayment of the Stock
Obligation, all remaining shares in the Unallocated Stock Fund (or the proceeds thereof, if applicable) shall be deemed to be earnings and shall be allocated in accordance with the requirements of Section 8.3. 

9.4 Full Vesting Upon Plan Termination. Notwithstanding Section 9.1, a Participant’s interest in his Account shall
fully vest upon termination of this Plan or upon the permanent and complete discontinuance of contributions by his Employer. In the event of a partial termination, the interest of each affected Participant shall fully vest with respect to that part
of the Plan which is terminated. A partial termination of the Plan shall be determined by the Internal Revenue Service Commissioner based on the facts and circumstances of the particular case in accordance with Code Section 411(d)(3) and the
Treasury Regulations issued thereunder. 
 9.5 Forfeiture, Repayment, and Restoral. If a Participant’s Service terminates
before his interest in his Account is fully vested, that portion which has not vested shall be forfeited after a one-year Break in Service. If a Participant’s Service terminates prior to having any portion of his Account become vested, such
Participant shall be deemed to have received a distribution of his vested interest immediately upon his termination of Service. If a Participant who has suffered a forfeiture of the nonvested portion of his Account returns to Service before he has
five (5) consecutive one-year Breaks in Service, the nonvested portion shall be restored, provided that, if the Participant had received a distribution of his vested Account balance, the entire amount distributed shall be repaid prior to such
restoral. The Participant may repay such amount at any time within five years after he has returned to Service. The amount repaid shall be credited to his Account at the time it is repaid; an additional amount equal to that portion of his Account
which was previously forfeited shall be restored to his Account at the same time from other Employees’ forfeitures and, if such forfeitures are insufficient, then from amounts allocated in accordance with Section 8.1-1(ii), and if
insufficient, then from a special contribution by his Employer for that year. A Participant who was deemed to have received a distribution of his vested interest in the Plan shall have his Account restored as of the first day on which he performs an
Hour of Service after his return. 
 In addition, if a Participant did not receive a distribution of his vested Account balance but his
non-vested Account balance was forfeited after a one-year Break in Service, such 

  
 24 

 
nonvested Account balance shall be restored if the Plan terminates before the Participant has a five-year Break in Service. If the Participant did not receive a distribution of his vested Account
balance, any forfeiture restored shall include earnings that would have been credited to the Account but for the forfeiture. 
 9.6
Accounting for Forfeitures. If a portion of a Participant’s Account is forfeited, Stock allocated to said Participant’s Account shall be forfeited only after other assets are forfeited. If interests in more than one class of
Stock have been allocated to a Participant’s Account, the Participant must be treated as forfeiting the same proportion of each class of Stock. A forfeiture shall be charged to the Participant’s Account as of the first day of the first
Valuation Period in which the forfeiture becomes certain pursuant to Section 9.5. Except as otherwise provided in that Section, a forfeiture shall be added to the contributions of the terminated Participant’s Employer which are to be
credited to other Participants pursuant to Section 4.1 as of the last day of the Plan Year in which the forfeiture becomes certain. Amounts forfeited shall be used to restore forfeitures as provided under Section 9.5, reduce Employer
contributions (or reallocate as Employer contributions) or to pay Plan expenses. 
 9.7 Vesting and Nonforfeitability. A
Participant’s interest in his Account which has become vested shall not be forfeited for any reason. 
  

	Section 10.	Payment of Benefits 

 10.1 Benefits for Participants. For a Participant
whose Service ends for any reason, distribution will be made to or for the benefit of the Participant or, in the case of the Participant’s death, his Beneficiary, by payment in a lump sum or installments, in accordance with Section 10.2.
Prior to any such distribution, any Participant entitled to a distribution will receive a form upon which the Participant can elect the form and manner of such distribution (e.g., whether to receive the distribution directly or transfer such
distribution to an individual retirement account or other tax-qualified plan), a special tax notice regarding the consequences of such distribution, and, if applicable, that the Participant has the right not to consent to a distribution at such
time. If a Participant so desires, he may direct how his benefits are to be paid to his Beneficiary. Notice to the Participant with regard to having the right to elect the manner in which his vested Account balance will be distributed to him may be
given up to 180 days before the first day of the first period for which an amount is payable. If a deceased Participant did not file a direction with the Committee, the Participant’s benefits shall be distributed to his Beneficiary in a lump
sum. 
 Notwithstanding any provision to the contrary, if the value of a Participant’s vested Account balance at the time of any
distribution does not exceed $1,000, then such Participant’s vested Account shall be distributed, without regard to whether the Participant consents, in a lump sum within 60 days after the end of the Plan Year in which employment terminates. If
the value of a Participant’s vested Account balance is in excess of $5,000, then his benefits shall not be paid prior to his Normal Retirement Date unless he elects an early payment date in a written election filed with the Committee. A
Participant may modify such an election at any time, provided any new benefit payment date is at least 30 days after a modified election is delivered to the Committee. Failure of a Participant to consent to a distribution prior to his Normal
Retirement Date shall be deemed to be an election to defer commencement of payment of any 

  
 25 

 
benefit under this section. Notwithstanding the foregoing, unless a Participant elects to receive a distribution, the Plan administrator shall transfer accounts of $1,000 or more, but not
exceeding $5,000, in a direct rollover to an individual retirement account designated by the Plan Administrator in accordance with Code Section 401(a)(31)(B) and the Treasury Regulations thereunder. All distributions of $5,000 or less that are
made pursuant to this Section without the Participant’s consent shall be made in cash. 
 10.2 Time for Distribution.

 10.2-1 A Participant’s Account will be distributed following his termination of Service, but only at the time and in
the manner determined by the Committee. The Committee shall establish a nondiscriminatory written distribution policy which satisfies the requirements of this Section 10, and such policy may be modified by the Committee from time to time in a
nondiscriminatory manner. 
 The following alternative modes of distribution may be selected by the Committee (after
considering the liquid assets of the Company and the Trust): 
 (i) Distribution of a Participant’s Account in a single
lump sum; 
 (ii) Distribution of a Participant’s Account in substantially equal annual or more frequent installments
over a period not exceeding five (5) years (provided that the period over which installments may be distributed may be extended an additional year (up to an additional five years) for each $1,070,000 or fraction thereof by which his Account
exceeds $1,070,000 (as adjusted after 2015 for increases in the cost of living pursuant to Code Section 409(o)(2)); or 

(iii) Any combination of the foregoing. 

10.2-2 If the Participant and, if applicable, with the consent of the Participant’s spouse, elects the distribution of the
Participant’s Account balance in the Plan, distribution shall commence no later than (i) one year after the close of the Plan Year in which the Participant severs employment by reason of attainment of Normal Retirement Age under the Plan,
Disability, or death, or (ii) the sixth Plan Year following the Plan Year in which the Participant otherwise severs employment, unless the participant elects a later date. Clause (ii) shall not apply if the Participant is reemployed by the
Employer before distribution is required to begin. Furthermore, the preceding sentence shall not apply to the extent that a Participant’s Account consist of Stock that was acquired pursuant to a Stock Obligation, if the Committee elects to
defer distribution of the portion of the Participants’ Accounts that is attributable to such Stock until the Plan Year following the Plan Year in which the Stock Obligation has been fully repaid. 

10.2-3 Unless the Participant elects otherwise, the distribution of the balance of a Participant’s Account shall commence
not later than the 60th day after the latest of the close of the Plan Year in which: 
 (i) the Participant attains the age
of 65; 

  
 26 

 (ii) occurs the tenth anniversary of the year in which the Participant commenced
participation in the Plan; or 
 (iii) the Participant terminates his Service with the Employer. 

10.2-4 Minimum Distribution Requirements. 

(i) Time and Manner of Distribution: 

(A) Required Beginning Date. The Participant’s entire interest will be distributed, or begin to be distributed, to the
Participant no later than the Participant’s Required Beginning Date. 
 (B) Death of Participant before Distributions
Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows: 

(I) if the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, then, distributions to
the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70 1/2, if
later. 
 (II) if the Participant’s surviving spouse is not the Participant’s sole Designated Beneficiary, then,
distributions to the Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. 

(III) if there is no Designated Beneficiary as of September 30 of the year following the year of the Participant’s
death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 

(IV) if the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary and the surviving spouse
dies after the Participant but before distributions to the surviving spouse begin, this Section 10.2-4 (i)(B), other than Section 10.2-4 (i)(B)(I), will apply if the surviving spouse were the Participant. 

For purposes of this Section 10.2-4 (i)(B) and Section 10.2-4 (iii), unless Section 10.2-4 (i)(B)(IV) applies,
distributions are considered to begin on the Participant’s Required Beginning Date. If Section 10.2-4 (i)(B)(IV) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under
Section 10.2-4 (i)(B)(I). 
 (C) Forms of Distribution. Unless the Participant’s interest is distributed in a lump
sum on or before the Required Beginning Date, as of the first distribution calendar year distributions will be made in accordance with Sections 10.2-4 (ii) and Section 10.2-4 (iii). 

  
 27 

 (ii) Required Minimum Distributions During Participant’s Lifetime. 

(A) Amount of Required Minimum Distribution for Each Distribution Calendar Year. During the Participant’s lifetime, the
minimum amount that will be distributed for each Distribution Calendar Year is the lesser of: 
 (I) the quotient obtained
by dividing the Participant’s Account Balance by the distribution period in the Uniform Lifetime Table (as set forth in Section 1.401(a)(9)-9 of the Treasury Regulations), using the Participant’s age as of the Participant’s
birthday in the Distribution Calendar Year; or 
 (II) if the Participant’s sole Designated Beneficiary for the
Distribution Calendar Year is the Participant’s spouse, the quotient obtained by dividing the Participant’s Account Balance by the number in the Joint and Last Survivor Table set forth in Section 1.401(a)(9)-9 of the Treasury
Regulations, using the Participant’s and spouse’s ages as of the Participant’s and spouse’s birthdays in the Distribution Calendar Year. 

(B) Lifetime Required Minimum Distributions Continue through Year of Participant’s Death. Required minimum distributions
will be determined under this Section 10.2-4 beginning with the first Distribution Calendar Year and up to and including the Distribution Calendar Year that includes the Participant’s date of death. 

(iii) Required Minimum Distributions After Participant’s Death. 

(A) Death On or After Date Distributions Begin. 

(I) Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there
is a Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Account Balance by the longer of
the remaining Life Expectancy of the Participant or the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as follows: 

The Participant’s remaining Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each
subsequent year. If the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, the remaining Life Expectancy of the surviving spouse is calculated for each Distribution Calendar Year after the year of the
Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For Distribution Calendar Years after the year of the surviving spouse’s death, the remaining Life Expectancy of the

  
 28 

 
surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar
year. 
 If the Participant’s surviving spouse is not the Participant’s sole Designated Beneficiary, the Designated
Beneficiary’s remaining Life Expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year. 

(II) No Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is no Designated
Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained
by dividing the Participant’s Account Balance by the Participant’s remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. 

(B) Death before Date Distributions Begin. 

(I) Participant Survived by Designated Beneficiary. If the Participant dies before the date distributions begin and there is a
Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Account Balance by the remaining Life
Expectancy of the Participant’s Designated Beneficiary, determined as provided in Section 10.2-4 (iii)(A). 

(II) No Designated Beneficiary. If the Participant dies before the date distributions begin and there is no Designated
Beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of
the Participant’s death. 
 (III) Death of Surviving Spouse Before Distributions to Surviving Spouse Are Required to
Begin. If the Participant dies before the date distributions begin, the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, and the surviving spouse dies before distributions are required to begin to the
surviving spouse under Section 10.2-4 (i)(B)(I), this Section 10.2-4 (iii)(B) will apply as if the surviving spouse were the Participant. 

(iv) Definitions. 

(A) “Designated Beneficiary.” The individual who is designated as the Beneficiary under the Plan and is the
Designated Beneficiary under Section 401(a)(9) of the Code and Section 1.401(a)(9)-4, Q&A-1 of the Treasury Regulations. 

  
 29 

 (B) “Distribution Calendar Year.” A calendar year for which a minimum
distribution is required. For distributions beginning before the Participant’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains the Participant’s required beginning
date. For distributions beginning after the Participant’s death, the first Distribution Calendar Year is the calendar year in which distributions are required to begin under Section 10.2-4(i)(B). The required minimum distribution for the
Participant’s first Distribution Calendar Year will be made on or before the Participant’s required beginning date. The required minimum distribution for other Distribution Calendar Years, including the required minimum distribution for
the Distribution Calendar Year in which the Participant’s required beginning date occurs, will be made on or before December 31 of that Distribution Calendar Year. 

(C) “Life Expectancy.” Life Expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of
the Treasury Regulations. 
 (D) “Participant’s Account Balance.” The Account balance as of the last Valuation
Date in the calendar year immediately preceding the Distribution Calendar Year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the Account balance as of dates in the valuation
calendar year after the Valuation Date and decreased by distributions made in the valuation calendar year after the Valuation Date. The Account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan
either in the valuation calendar year or in the Distribution Calendar Year if distributed or transferred in the valuation calendar year. 

(E) “Required Beginning Date.” The Required Beginning Date shall be, with respect to a 5-percent owner (as defined in
Code Section 416), not later than April 1 of the calendar year next following the calendar year in which the Participant attains age 70 1/2, and (2) with respect to all other Participants, the Required Beginning Date shall be not
later than April 1 of the calendar year following the calendar year in which the Participant attains age 70 1/2, or, if later, the year in which the Participant retires. 

10.3 Marital Status. The Committee, the Plan, the Trustee, and the Employers shall be fully protected and discharged from any
liability to the extent of any benefit payments made as a result of the Committee’s good faith and reasonable reliance upon information obtained from a Participant and his Employer as to his marital status. 

10.4 Delay in Benefit Determination. If the Committee is unable to determine the benefits payable to a Participant or
Beneficiary on or before the latest date prescribed for payment pursuant to Section 10.1 or 10.2, the benefits shall in any event be paid within 60 days after they can first be determined, with whatever makeup payments may be appropriate in
view of the delay. 

  
 30 

 10.5 Accounting for Benefit Payments. Any benefit payment shall be charged to the
Participant’s Account as of the first day of the Valuation Period in which the payment is made. 
 10.6 Options to Receive
Stock. Unless ownership of virtually all Stock is restricted to active Employees and qualified retirement plans for the benefit of Employees pursuant to the certificates of incorporation or by-laws of the Employers issuing Stock, a
terminated Participant or the Beneficiary of a deceased Participant may instruct the Committee to distribute the Participant’s entire vested interest in his Account in the form of Stock. In that event, the Committee shall apply the
Participant’s vested interest in the Investment Fund to purchase sufficient Stock from the Stock Fund or from any owner of Stock to make the required distribution. In all other cases, other than as specifically set forth in Section 10.1,
the Participant’s vested interest in the Stock Fund shall be distributed in shares of Stock, and his vested interest in the Investment Fund shall be distributed in cash. If Stock acquired with the proceeds of a Stock Obligation available for
distribution consists of more than one class of Stock, the Participant (or Beneficiary, if applicable) must receive substantially the same proportion of each such class. 

Any Participant who receives Stock pursuant to Section 10.1, and any person who has received Stock from the Plan or from such a
Participant by reason of the Participant’s death or incompetence, by reason of divorce or separation from the Participant, or by reason of a rollover contribution described in Section 402(c)(5) of the Code, shall have the right to require
the Employer which issued the Stock to purchase the Stock for its current fair market value (hereinafter referred to as the “put right”). The put right shall be exercisable by written notice to the Committee during the first 60 days after
the Stock is distributed by the Plan, and, if not exercised in that period, during the first 60 days in the following Plan Year after the Committee has communicated to the Participant its determination as to the Stock’s current fair market
value. However, the put right shall not apply to the extent that the Stock, at the time the put right would otherwise be exercisable, is “readily tradable on an established securities market” (as defined under Section 2). Similarly,
the put option shall not apply with respect to the portion of a Participant’s Account that the Employee elected to have reinvested under Code Section 401(a)(28)(B). If the put right is exercised, the Trustee may, if so directed by the
Committee in its sole discretion, assume the Employer’s rights and obligations with respect to purchasing the Stock. Notwithstanding anything herein to the contrary, in the case of a plan established by a bank (as defined in Code
Section 581), the put option shall not apply if prohibited by a federal or state law, and Participants are entitled to elect their benefits be distributed in cash. 

The Employer or the Trustee, as the case may be, may elect to pay for the Stock in equal periodic installments, not less frequently than
annually, over a period beginning not later than 30 days after the exercise of the put right and not exceeding five years, with adequate security and interest at a reasonable rate on the unpaid balance, all such terms to be set forth in a promissory
note delivered to the seller with normal terms as to acceleration upon any uncured default. 
 Nothing contained herein shall be deemed to
obligate any Employer to register any Stock under any federal or state securities law or to create or maintain a public market to facilitate the transfer or disposition of any Stock. The put right described herein may only be exercised by a person
described in the second preceding paragraph, and may not be transferred with any Stock 

  
 31 

 
to any other person. As to all Stock purchased by the Plan in exchange for any Stock Obligation, the put right shall be nonterminable. The put right for Stock acquired through a Stock Obligation
shall continue with respect to such Stock after the Stock Obligation is repaid or the Plan ceases to be an employee stock ownership plan. 

10.7 Restrictions on Disposition of Stock. Except in the case of Stock which is “readily tradable on an established
securities market” (as defined under Section 2), a Participant who receives Stock pursuant to Section 10.1, and any person who has received Stock from the Plan or from such a Participant by reason of the Participant’s death or
incompetence, by reason of divorce or separation from the Participant, or by reason of a rollover contribution described in Section 402(c)(5) of the Code, shall, prior to any sale or other transfer of the Stock to any other person, first offer
the Stock to the issuing Employer and to the Plan at the greater of (i) its current fair market value, or (ii) the purchase price offered in good faith by an independent third party purchaser. This restriction shall apply to any transfer,
whether voluntary, involuntary, or by operation of law, and whether for consideration or gratuitous. Either the Employer or the Trustee may accept the offer within 14 days after it is delivered. Any Stock distributed by the Plan shall bear a
conspicuous legend describing the right of first refusal under this Section 10.7, as well as any other restrictions upon the transfer of the Stock imposed by federal and state securities laws and regulations. The Company may require that a
Participant entitled to a distribution of Stock execute an appropriate stock transfer agreement (evidencing the right of first refusal) prior to receiving a certificate for Stock. 

10.8 Continuing Loan Provisions; Creations of Protections and Rights. Except as otherwise provided in Sections 10.6 and 10.7 and
this Section, no shares of Employer Stock held or distributed by the Trustee may be subject to a put, call or other option, or buy-sell arrangement. The provisions of this Section shall continue to be applicable to such Stock even if the Plan ceases
to be an employee stock ownership plan under Section 4975(e)(7) of the Code. 
 10.9 Direct Rollover of Eligible
Distribution. A Participant or distributee may elect, at the time and in the manner prescribed by the Trustee or the Committee, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified
by the Participant or distributee in a direct rollover. 
 10.9-1 An “eligible rollover” is any distribution that
does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the
Participant and the Participant’s Beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under Code Section 401(a)(9); any hardship distribution described in
Section 401(k)(2)(B)(i)(IV) of the Code; and the portion of any distribution that is not included in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). A portion of a
distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an individual
retirement account or annuity described in Section 408(a) or (b) of the Code, or to a qualified defined contribution plan described in Section 401(a) or 403(a) of the Code that agrees to separately accounting for the portion of such
distribution which is includible in gross income and the portion of such distribution which is not so includible. 

  
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 10.9-2 An “eligible retirement plan” is an individual retirement
account described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b), a deemed individual retirement account described in Code Section 408(q), an annuity plan described in Code
Section 403(a), a Roth individual retirement account in accordance with Code Section 408A(e), or a qualified trust described in Code Section 401(a), that accepts the distributee’s eligible rollover distribution. An eligible
retirement plan shall also include an annuity contract described in Section 403(b) of the Code and an eligible plan under Section 457(b) of the Code which is maintained by a state, or any agency or instrumentality of a state or political
subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan. 

10.9-3 A “direct rollover” is a payment by the Plan to the eligible retirement plan specified by the distributee.

 10.9-4 The term “distributee” shall refer to a deceased Participant’s Spouse or a Participant’s former
Spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p), and shall include non-spouse Beneficiaries pursuant to Code Section 402(c)(11). In the case of a non-spouse Beneficiary who
has been designated by the Participant or who has otherwise been identified as his beneficiary, a direct rollover may be made only to an individual retirement account or annuity described in Code Sections 408(a) or (b) (“IRA”) that is
established on behalf of the designated beneficiary and that will be treated as an inherited IRA pursuant to the provisions of Code Sections 402(c)(11). 

10.9-5 The Administrator shall provide Participants or other distributes of eligible rollover distributions with a written
notice designed to comply with the requirements of Code Section 402(f). Such notice shall be provided within a reasonable period of time before making an eligible rollover distribution. Such notice may be provided up to 180 days before the
first day of the first period for which an amount is payable. 
 10.10 Waiver of 30-Day Period After Notice of Distribution.
If a distribution is one to which Sections 401(a)(11) and 417 of the Code do not apply, such distribution may commence less than 30 days after the notice required under Treasury Regulations Section 1.411(a)-11(c) is given, provided that: 

(i) the Trustee or Committee, as applicable, clearly informs the Participant that the Participant has a right to a period of at
least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular option); and 

(ii) the Participant, after receiving the notice, affirmatively elects a distribution. 

  
 33 

	Section 11.	Rules Governing Benefit Claims and Review of Appeals. 

 11.1 Claim for
Benefits. Any Participant or Beneficiary who qualifies for the payment of benefits shall file a claim for his benefits with the Committee on a form provided by the Committee. The claim, including any election of an alternative benefit form,
shall be filed at least 30 days before the date on which the benefits are to begin. If a Participant or Beneficiary fails to file a claim by the day before the date on which benefits become payable, he shall be presumed to have filed a claim for
payment for the Participant’s benefits in the standard form prescribed by Sections 10.1 or 10.2. 
 11.2 Notification by
Committee. Within 90 days (45 days if the claim relates to a disability determination) after receiving a claim for benefits (or within 180 days (75 days if the claim relates to a disability determination), if special circumstances require an
extension of time and written notice of the extension is given to the Participant or Beneficiary within the initial period after receiving the claim for benefits), the Committee shall notify the Participant or Beneficiary whether the claim has been
approved or denied. If the Committee denies a claim in any respect, the Committee shall set forth in a written notice to the Participant or Beneficiary: 

(i) each specific reason for the denial; 

(ii) specific references to the pertinent Plan provisions on which the denial is based; 

(iii) a description of any additional material or information which could be submitted by the Participant or Beneficiary to
support his claim, with an explanation of the relevance of such information; and 
 (iv) an explanation of the claims review
procedures set forth in Section 11.3. 
 11.3 Claims Review Procedure. Within 60 days (180th day if the claim relates to
a disability determination) after a Participant or Beneficiary receives notice from the Committee that his claim for benefits has been denied in any respect, he may file with the Committee a written notice of appeal setting forth his reasons for
disputing the Committee’s determination. In connection with his appeal the Participant or Beneficiary or his representative may inspect or purchase copies of pertinent documents and records to the extent not inconsistent with other
Participants’ and Beneficiaries’ rights of privacy. Within 60 days (45 days if the claim relates to a disability determination) after receiving a notice of appeal from a prior determination (or within 120 days (90 days if the claim relates
to a disability determination), if special circumstances require an extension of time and written notice of the extension is given to the Participant or Beneficiary and his representative within the initial period after receiving the notice of
appeal), the Committee shall furnish to the Participant or Beneficiary and his representative, if any, a written statement of the Committee’s final decision with respect to his claim, including the reasons for such decision and the particular
Plan provisions upon which it is based. 

  
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 11.4 Determinations of Disability. If the claim relates to a disability
determination, determinations of the Plan Administrator shall include the information required under applicable United States Department of Labor regulations. 
  

	Section 12.	The Committee and its Functions. 

 12.1 Authority of Committee. The
Committee shall be the “plan administrator” within the meaning of ERISA and shall have exclusive responsibility and authority to control and manage the operation and administration of the Plan, including the interpretation and application
of its provisions, except to the extent such responsibility and authority are otherwise specifically (i) allocated to the Company, the Bank, the Employers, or the Trustee under the Plan and Trust Agreement; (ii) delegated in writing to
other persons by the Company, the Bank, the Employers, the Committee, or the Trustee; or (iii) allocated to other parties by operation of law. The Committee shall have exclusive responsibility regarding decisions concerning the payment of
benefits under the Plan. The Committee shall have no investment responsibility with respect to the Investment Fund except to the extent, if any, specifically provided in the Trust Agreement. In the discharge of its duties, the Committee may employ
accountants, actuaries, legal counsel, and other agents (who also may be employed by an Employer or the Trustee in the same or some other capacity) and may pay their reasonable expenses and compensation. 

12.2 Identity of Committee. The Committee shall consist of three or more individuals selected by the Company or its
designee. Any individual, including a director, trustee, shareholder, officer, or Employee of an Employer, shall be eligible to serve as a member of the Committee. The Company shall have the power to remove any individual serving on the Committee at
any time without cause upon 10 days written notice, and any individual may resign from the Committee at any time upon 10 days written notice to the Company. The Company shall notify the Trustee of any change in membership of the Committee. 

12.3 Duties of Committee. The Committee shall keep whatever records may be necessary to implement the Plan and shall furnish
whatever reports may be required from time to time by the Bank. The Committee shall furnish to the Trustee whatever information may be necessary to properly administer the Trust. The Committee shall see to the filing with the appropriate government
agencies of all reports and returns required of the Plan under ERISA and other laws. Further, the Committee shall have exclusive responsibility and authority with respect to the Plan’s holdings of Stock and shall direct the Trustee in all
respects regarding the purchase, retention, sale, exchange, and pledge of Stock and the creation and satisfaction of Stock Obligations. The Committee shall at all times act consistently with the Company’s long-term intention that the Plan, as
an employee stock ownership plan, be invested primarily in Stock. Subject to the direction of the board as to the application of Employer contributions to Stock Obligations, and subject to the provisions of Sections 6.4 and 10.6 as to
Participants’ rights under certain circumstances to have their Accounts invested in Stock or in assets other than Stock, the Committee shall determine in its sole discretion the extent to which assets of the Trust shall be used to repay Stock
Obligations, to purchase Stock, or to invest in other assets to be selected by the Trustee or an investment manager. No provision of the Plan relating to the allocation or vesting of any interests in the Stock Fund or the Investment Fund shall
restrict the Committee from changing any holdings of the Trust, whether the changes involve an increase or a decrease in the Stock or other assets credited to Participants’ Accounts. In determining the proper extent

  
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of the Trust’s investment in Stock, the Committee shall be authorized to employ investment counsel, legal counsel, appraisers, and other agents and to pay their reasonable expenses and
compensation. 
 12.4 Valuation of Stock. If the valuation of any Stock is not established by reported trading on an
established securities market (as determined under Notice 2011-19), the valuation of such Stock shall be determined by an independent appraiser. For purposes of the preceding sentence, the term “independent appraiser” means any appraiser
meeting requirements similar to the requirements of the regulations prescribed under Section 170(a)(1) of the Code. 
 12.5
Compliance with ERISA. The Committee shall perform all acts necessary to comply with ERISA. Each individual member or employee of the Committee shall discharge his duties in good faith and in accordance with the applicable requirements
of ERISA. 
 12.6 Action by Committee. All actions of the Committee shall be governed by the affirmative vote of a number of
members which is a majority of the total number of members currently appointed, including vacancies. 
 12.7 Execution of
Documents. Any instrument executed by the Committee shall be signed by any member of the Committee. 
 12.8 Adoption of
Rules. The Committee shall adopt such rules and regulations of uniform applicability as it deems necessary or appropriate for the proper administration and interpretation of the Plan. 

12.9 Responsibilities to Participants. The Committee shall determine which Employees qualify to enter the Plan. The Committee
shall furnish to each Eligible Employee whatever summary plan descriptions, summary annual reports, and other notices and information may be required under ERISA. The Committee also shall determine when a Participant or his Beneficiary qualifies for
the payment of benefits under the Plan. The Committee shall furnish to each such Participant or Beneficiary whatever information is required under ERISA (or is otherwise appropriate) to enable the Participant or Beneficiary to make whatever
elections may be available pursuant to Sections 6 and 10, and the Committee shall provide for the payment of benefits in the proper form and amount from the assets of the Trust Fund. The Committee may decide in its sole discretion to permit
modifications of elections and to defer or accelerate benefits to the extent consistent with applicable law and the best interests of the individuals concerned. 

12.10 Alternative Payees in Event of Incapacity. If the Committee finds at any time that an individual qualifying for benefits
under this Plan is a minor or is incompetent, the Committee may direct the benefits to be paid, in the case of a minor, to his parents, his legal guardian, or a custodian for him under the Uniform Gifts to Minors Act, or, in the case of an
incompetent, to his spouse, or his legal guardian, the payments to be used for the individual’s benefit. The Committee and the Trustee shall not be obligated to inquire as to the actual use of the funds by the person receiving them under this
Section 12.10, and any such payment shall completely discharge the obligations of the Plan, the Trustee, the Committee, and the Employers to the extent of the payment. 

  
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 12.11 Indemnification by Employers. Except as separately agreed in writing, the
Committee, and any member or employee of the Committee, shall be indemnified and held harmless by the Employer, jointly and severally, to the fullest extent permitted by ERISA, and subject to and conditioned upon compliance with 12 C.F.R.
Section 545.121, to the extent applicable, against any and all costs, damages, expenses, and liabilities reasonably incurred by or imposed upon it or him in connection with any claim made against it or him or in which it or he may be involved
by reason of its or his being, or having been, the Committee, or a member or employee of the Committee, to the extent such amounts are not paid by insurance. 

12.12 Nonparticipation by Interested Member. Any member of the Committee who also is a Participant in the Plan shall take no
part in any determination specifically relating to his own participation or benefits, unless his abstention would leave the Committee incapable of acting on the matter. 
  

	Section 13.	Adoption, Amendment, or Termination of the Plan. 

 13.1 Adoption of Plan by Other
Employers. With the consent of the Bank, any entity may become a participating Employer under the Plan by (i) taking such action as shall be necessary to adopt the Plan; (ii) becoming a party to the Trust Agreement establishing the
Trust Fund; and (iii) executing and delivering such instruments and taking such other action as may be necessary or desirable to put the Plan into effect with respect to the entity’s Employees. 

13.2 Plan Adoption Subject to Qualification. Notwithstanding any other provision of the Plan, the adoption of the Plan and the
execution of the Trust Agreement are conditioned upon their being determined initially by the Internal Revenue Service to meet the qualification requirements of Code Section 401(a), so that the Employers may deduct currently for federal income
tax purposes their contributions to the Trust and so that the Participants may exclude the contributions from their gross income and recognize income only when they receive benefits. In the event that this Plan is held by the Internal Revenue
Service not to qualify initially under Code Section 401(a), the Plan may be amended retroactively to the earliest date permitted by U.S. Treasury Regulations in order to secure qualification under Code Section 401(a). If this Plan is held
by the Internal Revenue Service not to qualify initially under Code Section 401(a) either as originally adopted or as amended, each Employer’s contributions to the Trust under this Plan (including any earnings thereon) shall be returned to
it and this Plan shall be terminated. In the event that this Plan is amended after its initial qualification and the Plan as amended is held by the Internal Revenue Service not to qualify under Code Section 401(a), the amendment may be modified
retroactively to the earliest date permitted by U.S. Treasury Regulations in order to secure approval of the amendment under Code Section 401(a). 

13.3 Right to Amend or Terminate. The Company intends to continue this Plan as a permanent program. However, each participating
Employer separately reserves the right to suspend, supersede, or terminate the Plan at any time and for any reason, as it applies to that Employer’s Employees, and the Company reserves the right to amend, suspend, supersede, merge, consolidate,
or terminate the Plan at any time and for any reason, as it applies to the Employees of each Employer. No amendment, suspension, supersession, merger, consolidation, or termination of the Plan shall (i) reduce any Participant’s or
Beneficiary’s proportionate interest in the Trust Fund; (ii) reduce or restrict, either directly or indirectly, the benefit provided 

  
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any Participant prior to the amendment; or (iii) divert any portion of the Trust Fund to purposes other than the exclusive benefit of the Participants and their Beneficiaries prior to the
satisfaction of all liabilities under the Plan. Moreover, there shall not be any transfer of assets to a successor plan or merger or consolidation with another plan unless, in the event of the termination of the successor plan or the surviving plan
immediately following such transfer, merger, or consolidation, each participant or beneficiary would be entitled to a benefit equal to or greater than the benefit he would have been entitled to if the plan in which he was previously a participant or
beneficiary had terminated immediately prior to such transfer, merger, or consolidation. Following a termination of this Plan by the Company, the Trustee shall continue to administer the Trust and pay benefits in accordance with the Plan as amended
from time to time and the Committee’s instructions. 
  

	Section 14.	Miscellaneous Provisions. 

 14.1 Plan Creates No Employment Rights. Nothing
in this Plan shall be interpreted as giving any Employee the right to be retained as an Employee by an Employer, or as limiting or affecting the rights of an Employer to control its Employees or to terminate the Service of any Employee at any time
and for any reason, subject to any applicable employment or collective bargaining agreements. 
 14.2 Nonassignability of
Benefits. No assignment, pledge, or other anticipation of benefits from the Plan will be permitted or recognized by the Employer, the Committee, or the Trustee. Moreover, benefits from the Plan shall not be subject to attachment,
garnishment, or other legal process for debts or liabilities of any Participant or Beneficiary, to the extent permitted by law. This prohibition on assignment or alienation shall apply to any judgment, decree, or order (including approval of a
property settlement agreement) which relates to the provision of child support, alimony, or property rights to a present or former spouse, child or other dependent of a Participant pursuant to a state domestic relations or community property law,
unless the judgment, decree, or order is determined by the Committee to be a qualified domestic relations order within the meaning of Code Section 414(p), as more fully set forth in Section 14.12 hereof. 

14.3 Limited Liability. The liability of the Employer with respect to Participants under this Plan shall be limited to making
contributions to the Trust from time to time, in accordance with Section 4. 
 14.4 Treatment of Expenses. All expenses
incurred by the Committee and the Trustee in connection with administering this Plan and Trust Fund shall be paid by the Trustee from the Trust Fund to the extent the expenses have not been paid or assumed by the Employer or by the Trustee. The
Committee may determine that, and shall inform the Trustee when, reasonable expenses may be charged directly to the Account or Accounts of a Participant or group of Participants to whom or for whose benefit such expenses are allocable, subject to
the guidelines set forth in Field Assistance Bulletin 2003-03, to the extent not superseded, or any successor directive, guidance, or regulations issued by the Department of Labor. 

  
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 14.5 Number and Gender. Any use of the singular shall be interpreted to include the
plural, and the plural the singular. Any use of the masculine, feminine, or neuter shall be interpreted to include the masculine, feminine, or neuter, as the context shall require. 

14.6 Nondiversion of Assets. Except as provided in Sections 5.2 and 14.12, under no circumstances shall any portion of the
Trust Fund be diverted to or used for any purpose other than the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan. 

14.7 Separability of Provisions. If any provision of this Plan is held to be invalid or unenforceable, the other provisions of
the Plan shall not be affected but shall be applied as if the invalid or unenforceable provision had not been included in the Plan. 
 14.8
Service of Process. The agent for the service of process upon the Plan shall be the president of the Bank, or such other person as may be designated from time to time by the Bank. 

14.9 Governing State Law. This Plan shall be interpreted in accordance with the laws of the Commonwealth of Kentucky to the
extent those laws are not preempted by ERISA or other federal law. 
 14.10 Employer Contributions Conditioned on
Deductibility. Employer Contributions to the Plan are conditioned on deductibility under Code Section 404. In the event that the Internal Revenue Service shall determine that all or any portion of an Employer Contribution is not
deductible under that Section, the nondeductible portion shall be returned to the Employer within one year of the disallowance of the deduction. 

14.11 Unclaimed Accounts. If all or any portion of the distribution payable to a Participant or Beneficiary shall, for a period
of more than five years after such distribution becomes payable, remain unpaid because the Plan Administrator has been unable to ascertain the whereabouts of the Participant or Beneficiary after sending a registered letter, return receipt requested,
to the last known address of such Participant or Beneficiary, the amount so distributable shall be treated as a forfeiture under Article 6 hereof. Notwithstanding the foregoing, if a claim is subsequently made by the Participant or Beneficiary for
the forfeited benefit, such benefit shall be reinstated without any credit or deduction for earnings and losses. Amounts forfeited from a Participant’s Account under this Section shall be used to restore forfeitures, reduce Company
contributions (or reallocate as Company contributions) or to pay Plan expenses. 
 14.12 Qualified Domestic Relations Order.
If a domestic relations order is determined to be a Qualified Domestic Relations Order (“QDRO”), payment to the alternate payee will begin on or after the “earliest retirement age,” whether or not the plan participant has
actually retired on that date. For purposes of this Section 14.12, the term “earliest retirement age” is the date on which the Participant could receive a distribution from the Plan if the Participant separated from service from the
Employer. Further, to the extent provided under a “qualified domestic relations order,” a former Spouse of a Participant shall be treated as the Spouse or surviving Spouse for all purposes under the Plan. 

  
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 In the case of any domestic relations order received by the Plan: 

(i) The Employer or the Committee shall promptly notify the Participant and any other alternate payee of the receipt of such
order and the Plan’s procedures for determining the qualified status of domestic relations orders; and 
 (ii) Within a
reasonable period after receipt of such order, the Employer or the Committee shall determine whether such order is a qualified domestic relations order and notify the Participant and each alternate payee of such determination. The Employer or the
Committee shall establish reasonable procedures to determine the qualified status of domestic relations orders and to administer distributions under such qualified orders. 

14.13 Use of Electronic Media to Provide Notices and Make Participant Elections. Pursuant to Treasury Regulations
Section 1.401(a)-21, the Plan may elect to use electronic media to provide notices required to be provided to Participants under the Plan and will accept elections from Participants communicated to the Plan using such electronic media. 

 

	Section 15.	Top-Heavy Provisions. 

 15.1 Top-Heavy Plan. This Plan is top-heavy if any
of the following conditions exist: 
 (i) If the top-heavy ratio for this Plan exceeds sixty percent (60%) and this Plan
is not part of any required aggregation group or permissive aggregation group; 
 (ii) If this Plan is a part of a required
aggregation group (but is not part of a permissive aggregation group) and the aggregate top-heavy ratio for the group of Plans exceeds sixty percent (60%); or 

(iii) If this Plan is a part of a required aggregation group and part of a permissive aggregation group and the aggregate
top-heavy ratio for the permissive aggregation group exceeds sixty percent (60%). 
 15.2 Definitions. In making this
determination, the Committee shall use the following definitions and principles: 
 15.2-1 The “Determination
Date,” with respect to the first Plan Year of any plan, means the last day of that Plan Year, and with respect to each subsequent Plan Year, means the last day of the preceding Plan Year. If any other plan has a Determination Date which differs
from this Plan’s Determination Date, the top-heaviness of this Plan shall be determined on the basis of the other plan’s Determination Date falling within the same calendar years as this Plan’s Determination Date. 

15.2-2 A “Key Employee” means any employee or former employee (including any deceased employee) who at any time
during the plan year that includes the determination date was an officer of the employer having annual compensation greater 

  
 40 

 
than $160,000 (as adjusted under Section 416(i)(1) of the Code), a 5-percent owner of the employer, or a 1-percent owner of the employer having annual compensation of more than $160,000. For
this purpose, annual compensation means compensation within the meaning of Section 415(c)(3) of the Code. The determination of who is a key employee will be made in accordance with Section 416(i)(1) of the Code and the applicable
regulations and other guidance of general applicability issued thereunder. 
 15.2-3 A “Non-key Employee” means an
Employee who at any time during the five years ending on the top-heavy Determination Date for the Plan Year has received compensation from an Employer and who has never been a Key Employee, and the Beneficiary of any such Employee. 

15.2-4 A “required aggregation group” includes (a) each qualified Plan of the Employer in which at least one Key
Employee participates in the Plan Year containing the Determination Date and (b) any other qualified Plan of the Employer which enables a Plan described in (a) to meet the requirements of Code Sections 401(a)(4) or 410. For purposes of the
preceding sentence, a qualified Plan of the Employer includes a terminated Plan maintained by the Employer within the period ending on the Determination Date. In the case of a required aggregation group, each Plan in the group will be considered a
top-heavy Plan if the required aggregation group is a top-heavy group. No Plan in the required aggregation group will be considered a top-heavy Plan if the required aggregation group is not a top-heavy group. All Employers aggregated under Code
Sections 414(b), (c) or (m) or (o) (but only after the Code Section 414(o) regulations become effective) are considered a single Employer. 

15.2-5 A “permissive aggregation group” includes the required aggregation group of Plans plus any other qualified
Plan(s) of the Employer that are not required to be aggregated but which, when considered as a group with the required aggregation group, satisfy the requirements of Code Sections 401(a)(4) and 410 and are comparable to the Plans in the required
aggregation group. No Plan in the permissive aggregation group will be considered a top-heavy Plan if the permissive aggregation group is not a top-heavy group. Only a Plan that is part of the required aggregation group will be considered a
top-heavy Plan if the permissive aggregation group is top-heavy. 
 15.3 Top-Heavy Rules of Application. For purposes
of determining the value of Account balances and the present value of accrued benefits the following provisions shall apply: 

15.3-1 The value of Account balances and the present value of accrued benefits will be determined as of the most recent
Valuation Date that falls within or ends with the twelve (12) month period ending on the Determination Date. 
 15.3-2
For purposes of testing whether this Plan is top-heavy, the present value of an individual’s accrued benefits and an individual’s Account balances is counted only once each year. 

  
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 15.3-3 The Account balances and accrued benefits of a Participant who is not
presently a Key Employee but who was a Key Employee in a Plan Year beginning on or after January 1, 1984 will be disregarded. 

15.3-4 Employer contributions attributable to a salary reduction or similar arrangement will be taken into account. Employer
matching contributions also shall be taken into account for purposes of satisfying the minimum contribution requirements of Section 416(c)(2) of the Code and the Plan. 

15.3-5 When aggregating Plans, the value of Account balances and accrued benefits will be calculated with reference to the
Determination Dates that fall within the same calendar year. 
 15.3-6 The present values of accrued benefits and the amounts
of account balances of an employee as of the determination date shall be increased by the distributions made with respect to the employee under the plan and any plan aggregated with the plan under Section 416(g)(2) of the Code during the 1-year
period ending on the determination date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the plan under Section 416(g)(2)(A)(i) of the Code. In
the case of a distribution made for a reason other than severance from employment, death, or disability, this provision shall be applied by substituting “five (5) year period” for “one (1) year period.” 

15.3-7 Accrued benefits and Account balances of an individual shall not be taken into account for purposes of determining the
top-heavy ratios if the individual has performed no services for the Employer during the one (1) year period ending on the applicable Determination Date. Compensation for purposes of this subparagraph shall not include any payments made to an
individual by the Employer pursuant to a qualified or non-qualified deferred compensation plan. 
 15.3-8 The present value
of the accrued benefits or the amount of the Account balances of any Employee participating in this Plan shall not include any rollover contributions or other transfers voluntarily initiated by the Employee except as described below. If this Plan
transfers or rolls over funds to another Plan in a transaction voluntarily initiated by the Employee, then this Plan shall count the distribution for purposes of determining Account balances or the present value of accrued benefits. A transfer
incident to a merger or consolidation of two or more Plans of the Employer (including Plans of related Employers treated as a single Employer under Code Section 414), or a transfer or rollover between Plans of the Employer, shall not be
considered as voluntarily initiated by the Employee. 
 15.4 Minimum Contributions. For any Top-Heavy Year, each Employer
shall make a special contribution on behalf of each Participant to the extent that the total allocations to his Account pursuant to Section 4 is less than the lesser of: 

(i) three percent of his 415 Compensation for that year, or 

(ii) the highest ratio of such allocation to 415 Compensation received by any Key Employee for that year. For purposes of
the special contribution of this Section 15.4, a Key Employee’s 415 Compensation shall include amounts the Key Employee elected to defer under a qualified 401(k) arrangement. Such a special contribution shall be made on behalf of each
Participant who is employed by an Employer on the last day of the Plan Year, regardless of the number of his Hours of Service, and shall be allocated to his Account. 

  
 42 

 If the Employer maintains a qualified plan in addition to this Plan and more than one such plan
is determined to be Top-Heavy, a minimum contribution or a minimum benefit shall be provided in one of such other plans, including a plan that consists solely of a cash or deferred arrangement which meets the requirements of Section 401(k)(12)
of the Code and matching contributions with respect to which the requirements of Section 401(m)(11) of the Code are met. 
 15.5
Top-Heavy Provisions Control in Top-Heavy Plan. In the event this Plan becomes top-heavy and a conflict arises between the top-heavy provisions herein set forth and the remaining provisions set forth in this Plan, the top-heavy
provisions shall control. 

  
 43EX-10.2

 Exhibit 10.2 

HOPFED BANCORP, INC. 2015 

EMPLOYEE STOCK OWNERSHIP TRUST 

Effective as of January 1, 2015 

Dated February 27, 2015 

 HOPFED BANCORP, INC. 2015 

EMPLOYEE STOCK OWNERSHIP TRUST 

TABLE OF CONTENTS 
  

							
	 		 		Page	 
		
	 SECTION 1 NAME
		 	1	  
		
	 SECTION 2 MANAGEMENT AND CONTROL OF TRUST FUND ASSETS
		 	1	  
			
	 2.1
		 The Trust Fund.
		 	1	  
			
	 2.2
		 Payments From Trust Fund.
		 	2	  
			
	 2.3
		 Plan Administration.
		 	2	  
			
	 2.4
		 Exercise of Trustee’s Duties.
		 	3	  
			
	 2.5
		 General Powers.
		 	3	  
			
	 2.6
		 Responsibility of Trustee.
		 	7	  
			
	 2.7
		 Compensation and Expenses.
		 	7	  
			
	 2.8
		 Continuation of Powers Upon Trust Termination.
		 	7	  
			
	 2.9
		 No Reversion to Company.
		 	7	  
		
	 SECTION 3 PROVISIONS RELATED TO INVESTMENT IN COMPANY STOCK
		 	7	  
			
	 3.1
		 Purchase and Sale of Stock.
		 	7	  
			
	 3.2
		 Stock Dividends, Splits and Other Capital Reorganizations.
		 	8	  
			
	 3.3
		 Voting and Tender of Shares.
		 	8	  
			
	 3.4
		 Put Right.
		 	8	  
		
	 SECTION 4 ADDITIONAL EMPLOYERS
		 	9	  
		
	 SECTION 5 CHANGE OF TRUSTEE
		 	9	  
			
	 5.1
		 Resignation and Removal of Trustee.
		 	9	  
			
	 5.2
		 Duties of Resigning or Removed Trustee and of Successor Trustee.
		 	9	  
			
	 5.3
		 Filling Trustee Vacancy.
		 	10	  

							
	SECTION 6 AMENDMENT AND TERMINATION	  	10	 
			
	 6.1
	 	 Amendment.
	  	 	10	  
			
	 6.2
	 	 Termination.
	  	 	10	  
		
	 SECTION 7 MISCELLANEOUS
	  	 	11	  
			
	 7.1
	 	 Disagreement as to Acts.
	  	 	11	  
			
	 7.2
	 	 Persons Dealing with Trustee.
	  	 	11	  
			
	 7.3
	 	 Benefits May Not Be Assigned or Alienated.
	  	 	11	  
			
	 7.4
	 	 Evidence.
	  	 	11	  
			
	 7.5
	 	 Waiver of Notice.
	  	 	11	  
			
	 7.6
	 	 Counterparts.
	  	 	11	  
			
	 7.7
	 	 Governing Laws and Severability.
	  	 	11	  
			
	 7.8
	 	 Successors.
	  	 	12	  
			
	 7.9
	 	 Action.
	  	 	12	  
			
	 7.10
	 	 Conformance with Plan.
	  	 	12	  
			
	 7.11
	 	 Indemnification.
	  	 	12	  
			
	 7.12
	 	 Insurance.
	  	 	12	  
			
	 7.13
	 	 Headings.
	  	 	12	  
			
	 7.14
	 	 Multiple Trustees.
	  	 	13	  

  
 ii 

 EMPLOYEE STOCK OWNERSHIP TRUST 

THIS AGREEMENT, made this 27th day of February, 2015, effective as of the 1st day of January, 2015, by and among HopFed Bancorp, Inc., a Delaware corporation (the “Company”), which is the holding company for Heritage Bank USA, Inc., a Kentucky chartered commercial
bank, and John E. Peck, Billy C. Duvall, and Thomas I. Miller, and their successor successors and assigns in the trust hereby evidenced, as trustees (such individuals collectively being the “Trustee”). 

WITNESSETH THAT: 

WHEREAS, the Company has established an employee stock ownership plan (as described in Section 4975(e)(7) of the Internal Revenue Code of
1986, as it may be amended from time to time (the “Code”), which is known as the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “Plan”); 

WHEREAS, the Plan was established for the exclusive benefit of eligible employees of the Company and those of any Employer (as defined in
Section 4) that adopts the Plan and becomes a party to this Trust Agreement as provided in Section 4 (the Company and the Employers that are parties hereto are sometimes referred to below collectively as the “Employers” and
individually as an “Employer”); 
 NOW THEREFORE, pursuant to the authority delegated to the undersigned officers of the Company
by resolution of its Board of Directors (the “Board”), IT IS AGREED, by and between the parties hereto, that the trust provisions contained herein shall constitute the agreement between the Company and the Trustee in connection with the
Plan; and 
 IT IS FURTHER AGREED, that the Trustee hereby accepts appointment as such under this Trust Agreement, effective as of
January 1, 2015; 
 IT IS FURTHER AGREED, by and between the parties hereto as follows: 

SECTION 1  
 NAME

 This Trust Agreement and Trust hereby evidenced shall be known as the “HopFed Bancorp, Inc. 2015 Employee Stock Ownership
Trust.” Any term used in this Trust Agreement which is defined in the Plan shall have the meaning set forth in the Plan. 
 SECTION 2
 
 MANAGEMENT AND CONTROL OF TRUST FUND ASSETS 
  

	2.1	The Trust Fund. 

 The “Trust Fund” at any date means all property of every kind
then held by the Trustee pursuant to this Trust Agreement. The Trustee may manage, administer and invest any contributions made by the several Employers under the Plan as one Trust Fund. If, for any reason, it becomes necessary to determine the
portion of the Trust Fund allocable to employees and former employees of any Employer as of any date, the Administrator (as defined in Section 2.3) shall specify such date as an accounting date, and after all adjustments required under the Plan
as of that accounting date have been made, the portion of the Trust Fund attributable to such 

  
 1 

 
employees and former employees shall be determined and shall consist of an amount equal to the aggregate of the account balances of employees and former employees of that Employer plus an amount
equal to any allocable contributions made by that Employer since the close of the immediately preceding Plan Year. 
  

	2.2	Payments From Trust Fund. 

  

	 	(a)	The Trustee shall, from time to time, on the written authority of the Administrator, make payments out of the Trust Fund to such persons, in such manner, in such amounts, and for such purposes as may be specified in
such authority. Each such written authority shall be accompanied by a certification that such amounts are for the payment of benefits under the Plan or for the payment of expenses of administering the Plan. The Trustee shall not be responsible in
any way with respect to the application of such payments or for the adequacy of the Trust Fund to meet and discharge any and all liabilities under the Plan. 

  

	 	(b)	All payments of benefits under the Plan shall be made exclusively from the assets of the trust fund as they may be constituted at the time or times of payment and no person shall be entitled to look to any other source
for such payments. 

  

	 	(c)	In the event that any distribution or payment directed by the Administrator shall be mailed by the Trustee to the person specified in such direction at the latest address of such person on file with the Administrator
and shall be returned to the Trustee because such person cannot be located at such address, the Trustee shall properly notify the Administrator of such return. Upon the expiration of ninety (90) days after such notification, such direction
shall become void and unless and until further direction by the Administrator is received by the Trustee with respect to such distribution or payment, the Trustee shall thereafter continue to administer the Trust as if such direction had not been
made by the Administrator. The Trustee shall not be obligated to search for or ascertain the whereabouts of any such person. 

  

	 	(d)	Where distribution is directed to be made in Stock, the Administrator or the Trustee shall cause the Company to issue an appropriate stock certificate (if applicable) to the person entitled thereto, to be delivered to
such person by the Administrator; provided that the Administrator and the Trustee (as directed by the Administrator) shall comply with the provisions of the Plan relating to the repurchase of Stock by the Company or by the Trust to the extent
applicable. Any portion of a Participant’s account balance to be distributed in cash shall be paid by the Trustee furnishing its check directly to the Participant (or Beneficiary) or to the Administrator for delivery to the Participant (or
Beneficiary). 

  

	2.3	Plan Administration. 

 In accordance with the Plan, the Plan shall be administered by a
committee of two or more persons (the “Administrator”), the members of which shall be certified to the Trustee by the Company. In accordance with the Plan, if no Administrator has been appointed by the Company, the Trustee shall serve as
the Administrator. The Administrator may authorize one or more individuals to sign all communications between the Administrator and Trustee and shall at all times keep the Trustee advised of the names of the members of the Administrator, the

  
 2 

 
individuals authorized to sign on behalf of the Administrator, and provide specimen signatures thereof. With the Trustee’s prior written consent, the Administrator may authorize the Trustee
to act, without specific directions or other directions or instructions from the Administrator, on any matter or class of matters respect to which directions or instructions from the Administrator are called for hereunder. The Trustee shall be fully
protected in relying on any communication sent by any authorized person and shall not be required to verify the accuracy or validity of any signature unless the Trustee has reasonable grounds to doubt the authenticity of any signature. If the
Trustee requests any directions hereunder with respect to a matter that is not within the Trustee’s sole discretion and does not receive them, the Trustee shall act or refrain from acting, as it may determine, with no liability for such action
or inaction. If at any time the persons serving as the Administrator and the person(s) serving as the Trustee are identical, then there shall be no need for written instructions from the Administrator to the Trustee, and all actions taken by the
Trustee shall be deemed to have been properly authorized by the Administrator. 
  

	2.4	Exercise of Trustee’s Duties. 

 The Trustee shall discharge its duties hereunder
solely in the interest of the Participants and their Beneficiaries, as such terms are described in the Plan, and: 
 (a) for the exclusive
purpose of: 
  

	 	(i)	providing benefits to Participants and Beneficiaries, and 

  

	 	(ii)	defraying reasonable expenses of administering the Plan; 

 (b) with the care, skill, prudence,
and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims; 

(c) in accordance with the documents and instruments governing the Plan unless, in the good faith judgment of the Trustee, the documents and
instruments are not consistent with the provisions of the Employment Retirement Income Security Act of 1974, as amended (“ERISA”); and 

(d) in a manner that does not constitute a non-exempt prohibited transaction under section 4975 of the Code or sections 406 or 407 of ERISA.

  

	2.5	General Powers. 

 Subject to the provisions of Sections 2.4 and 3, with respect to the
Trust Fund, the Trustee shall have the following powers, rights and duties in addition to those provided elsewhere in this Trust Agreement or by law: 
  

	 	(a)	To receive and to hold all contributions paid to it under the Plan; provided, however, that the Trustee shall have no duty to require any contributions to be made to it, or to determine that the contributions received
by it comply with the provisions of the Plan or with any resolution of the Board providing therefor. 

  
 3 

	 	(b)	To retain in cash (pending investment, reinvestment or the distribution of dividends) such reasonable amount as maybe required for the proper administration of the Trust and to invest such cash as provided herein.

  

	 	(c)	As directed by the Administrator, to make distributions from the Trust Fund to such persons or trusts, in such manner, at such times and in such forms as directed without inquiring as to whether a payee is entitled to
the payment, or as to whether a payment is proper, and without liability for a payment made in good faith without actual notice or knowledge of the changed condition or status of the payee. If any payment of benefits directed to be made from the
Trust Fund by the Trustee is not claimed, the Trustee shall notify the Administrator of that fact promptly. The Administrator shall make a diligent effort to ascertain the whereabouts of the payee or distributee of benefits returned unclaimed. The
Trustee shall dispose of such payments as the Administrator shall direct. The Trustee shall have no obligation to search for or ascertain the whereabouts of any payee or distributee of benefits from the Trust Fund. 

 

	 	(d)	As directed by the Administrator to vote or exercise other rights with respect to any “Stock” (as defined in the Plan) in the Trust Fund at its discretion, except to the extent provided in the Plan, and to
vote or exercise other rights with regard to any other stocks, bonds or other securities held in the Trust, or otherwise consent to or request any action on the part of the issuer in person, by proxy or power of attorney. 

 

	 	(e)	To contract or otherwise enter into transactions between the Trust and the Company or any Company shareholder or other person, for the purpose of acquiring, selling, or exchanging Stock and to retain in the Trust Fund
any Stock so acquired. 

  

	 	(f)	To compromise, contest, arbitrate, settle or abandon claims and demands by or against the Trust Fund. 

  

	 	(g)	To begin, maintain or defend any litigation necessary the investment, reinvestment and administration of the Trust. 

  

	 	(h)	To report to the Company as of the last day of each Plan be the same as the Trust’s fiscal year), as of any “Valuation Date” as defined in the Plan (or as soon thereafter as practicable), or at such other
times as may be required under the Plan, the then “Net Worth” of the Trust Fund, that is, the fair market value of all property held in the Trust Fund, reduced by any liabilities other than liabilities to Participants in the Plan and their
Beneficiaries, as determined by the Trustee. 

  

	 	(i)	 To furnish to the Company annual written account or accounts for such other periods as may be required under the Plan, showing the Net Worth of the
Trust Fund at the end of the period all investments, receipts, disbursements and other transactions made by the Trustee during such period and such other information as the Trustee may possess that the Administrator requires in order to comply with
the reporting and disclosure requirements of ERISA. The Trustee shall keep accurate accounts of all investments, earnings thereon, and all accounts, books and records related to such investments shall be open to inspection by any person

  
 4 

	 	
designated by the Company or the Administrator. All accounts of the Trustee shall be kept on an accrual basis. If, during the term of this Trust Agreement, the Department of Labor issues
regulations under ERISA regarding the valuation of securities or other assets for purposes of the reports required by ERISA the Trustee shall use such valuation methods for purposes of the accounts described by this subparagraph. If the
Administrator determines that there is no established securities market for the Stock (as determined under Notice 2011-19), all valuations of shares of Stock shall initially be made by an independent appraiser (as described in
Section 401(a)(28)(C) of the Code) (“Independent Appraiser”) retained by the Trustee, and reviewed and finalized by the Trustee, in accordance with Section 3(18)(B) of ERISA. The Company may approve such accounting by written
notice of approval delivered to the Trustee or by failure to express objection to such accounting in writing delivered to the Trustee within one hundred twenty (120) days from the date upon which the accounting was delivered to the Company.
Upon the receipt of a written approval of the accounting, or upon the passage of the period of time within which objection may be filed without written objections having been delivered to the Trustee, such accounting shall be deemed to be approved,
and the Trustee shall be released and discharged as to all items, matters and things set forth in such account, as fully as if such accounting had been settled and allowed by decree of a court of competent jurisdiction in an action or proceeding in
which the Trustee, the Company and all persons having or claiming to have any interest in the Trust Fund or under the Plan were parties. 

  

	 	(j)	As directed by the Administrator, to pay any income, excise, estate, inheritance or other tax, charge or assessment attributable to any benefit which it shall or may be required to payout of such benefit; and to require
before making any payment such release or other document from any taxing authority and such indemnity from the intended payee as the Trustee shall deem necessary for its protection. 

 

	 	(k)	To employ and to reasonably upon information and advice furnished by agents, attorneys, appraisers, accountants or other persons of its choice for such purposes as the Trustee considers necessary for the proper
administration of the Trust. 

  

	 	(l)	To assume, until advised to the contrary, that the Trust evidenced by this Agreement is qualified under Section 401(a) of the Code and is entitled to tax-exempt status under Section 501(a) thereof.

  

	 	(m)	To appoint as may be necessary and from time to time one or more custodians or corporate directed trustees to hold, but not invest or otherwise manage or control, some or all of the assets of the Trust, with the terms
and conditions of the holding of such assets governed by such separate agreements as may be entered into between the Trustees or Company and the custodian or directed corporate trustee, as applicable. 

 

	 	(n)	To appoint a directed corporate trustee and to delegate nondiscretionary powers to such directed trustee, including but not limited to the processing of voting of the Stock by participants, as directed by the
Administrator and in accordance with terms of the Plan and this Trust Agreement. Such directed trustee shall have no discretion with respect to voting or any other aspects of the administration of the Plan. 

  
 5 

	 	(o)	To invest and reinvest the assets of the Trust Fund in personal property of any kind, including, but not limited to bonds, notes, debentures, mortgages, equipment trust certificates, investment trust certificates,
guaranteed investment contracts, preferred or common stock, and registered investment companies. 

  

	 	(p)	To exercise any options, subscription rights and other privileges with respect to Trust assets. 

  

	 	(q)	To register ownership of any securities or other property held by it in its own name or in the name of a nominee, with or without the addition of words indicating that such securities are held in a fiduciary capacity,
and may hold any securities in bearer form, but the books and records of the Trustee shall at all times reflect that all such investments are part of the Trust. 

  

	 	(r)	To borrow such sum or sums from time to time as the Trustee considers necessary or desirable and in the best interest of the Trust Fund, and for that purpose to mortgage or pledge any part of the Trust Fund.

  

	 	(s)	To deposit securities with a clearing corporation as defined in Article 8 of the Uniform Commercial Code. The certificates representing securities, including those in bearer form, may be held in bulk form with, and may
be merged into, certificates of the same class of the same issuer which constitute assets of other accounts or owners, without certification as to the ownership attached. Utilization of a book-entry system may be made for the transfer or pledge of
securities held by the Trustee or by a clearing corporation. The Trustee shall at all times, however, maintain a separate and distinct record of the securities owned by the Trust. 

 

	 	(t)	To participate in and use the Federal Book-Entry Account System, a service provided by the Federal Reserve Bank for its member banks for deposit of Treasury securities. 

 

	 	(u)	To perform any and all other acts which are necessary or appropriate for the proper management, investment and distribution of the Trust Fund. 

Notwithstanding anything to the contrary in this Section 2.5 or any other section of this Trust Agreement, the Trustee shall not: 

 

	 	(a)	Divert any part of the trust fund to any purpose other than for the exclusive benefit of Participants, former Participants, and Beneficiaries under the Plan. 

 

	 	(b)	Make an investment which would be in conflict with the “prohibited transactions” provisions of the Code as currently defined and as hereafter amended or with the provisions of ERISA as currently defined and as
hereafter amended, for which there is no exemption. 

  
 6 

	 	(c)	Participate knowingly in or knowingly undertake to conceal an act or omission of any Fiduciary to the Plan (as Fiduciary is defined in Section 3(21) of ERISA) knowing such act or omission is a breach.

  

	 	(d)	Conduct itself in the administration of its specific responsibilities hereunder which give rise to its status as a Fiduciary so as to enable another Fiduciary to commit a breach. 

 

	2.6	Responsibility of Trustee. 

 The Trustee shall not be responsible in any way for the
adequacy of the Trust Fund to meet and discharge any or all liabilities under the Plan or for the proper application of distributions made or other action taken upon the direction of the Administrator. The powers, duties and responsibilities of the
Trustee shall be limited to those set forth in this Trust Agreement, and nothing contained in the Plan, either expressly or by implication, shall be deemed to impose any additional powers, duties or responsibilities on the Trustee. 

 

	2.7	Compensation and Expenses. 

 The Trustee shall be entitled to reasonable compensation for
services, as agreed to between the Company and the Trustee from time to time in writing, and to reimbursement of all reasonable expenses incurred by it in the administration of the Trust. The Trustee is authorized to pay from the Trust Fund all
expenses of administering the Plan and Trust, including its compensation, compensation to any agents employed by the Trustee and any accounting, legal and valuation expenses, to the extent they are not paid directly by the Employers. The Trustee
shall be fully protected in making payments of administrative expenses pursuant to the written directions of the Administrator. 
  

	2.8	Continuation of Powers Upon Trust Termination. 

 Notwithstanding anything to the contrary
in this Agreement, upon termination of the Trust, the powers, rights and duties of the Trustee hereunder shall continue until all Trust Fund assets have been liquidated. 
  

	2.9	No Reversion to Company. 

 No part of the corpus or income of the Trust Fund shall revert
to any Employer or be used for, or diverted to, purposes other than for the exclusive benefit of Participants and other persons entitled to benefits under the Plan, except to the extent specifically provided in the Plan and permissible under the
Code and ERISA. 
 SECTION 3  

PROVISIONS RELATED TO INVESTMENT IN COMPANY STOCK 
  

	3.1	Purchase and Sale of Stock. 

 The Administrator shall have complete discretion to direct
the Trustee to purchase or sell Stock by the Trust. The Trustee is authorized, at the Administrator’s discretion, to purchase or sell Stock from or to the Company or from or to any other person, and such stock may be outstanding, newly issued
or treasury stock. All such purchases must be at a price not in excess 

  
 7 

 
of fair market value, as determined by the Administrator based on an independent appraisal when the Stock is not publicly traded. Pending investment of cash in Stock, such cash may be invested in
savings accounts, certificates of deposit, high-grade short-term securities, common or preferred stocks, bonds, or other investments, or may be held in cash. Such investments may include any collective investment trust that provides for the pooling
of assets of plans described in section 401(a) of the Code and exempt from tax under section 501(a) of the Code, the terms of which are incorporated herein by reference. 
  

	3.2	Stock Dividends, Splits and Other Capital Reorganizations. 

 Any Stock received by the
Trustee as a stock split or dividend or as a result of a reorganization or other recapitalization of the Company shall be allocated as of each Valuation Date under the Plan in proportion to the Stock to which it is attributable. 

 

	3.3	Voting and Tender of Shares. 

 The Trustee shall exercise all voting, tender, exchange
and other rights with respect to Stock held in the Trust Fund in accordance with the Administrator’s written instructions, except to the extent set forth in the Plan and otherwise consistent with its duties described in Section 2.4. 

 

	3.4	Put Right. 

 If the distribution of any portion of a Participant’s Account (as
defined in the Plan) invested in the Stock Fund (as defined in the Plan) is to be made in cash, or the Trustee expects to incur substantial Trustee expenses which will not be paid directly by the Employers, and the Trustee determines that the Trust
Fund has insufficient cash to make anticipated distributions or pay Trust expenses, the Trust shall have a “put right” on Stock it holds to the Company for the purpose of making such anticipated distributions and paying such expenses;
provided, however, that the Company shall not be obligated to make any payment under such put right if prohibited from doing so by law. The Trust shall have the put right regardless of whether the Stock is readily tradable on an established
securities market (as defined in the Plan), except that if the Stock is not readily tradable on an established securities market, the implementation of such a put right shall be pursuant to one or more of the following arrangements as the Trustee
shall determine. 
  

	 	(a)	The Trustee shall put Stock to the Company on a Valuation Date in amount sufficient to provide an amount as estimated in good faith to be sufficient to make anticipated distributions from the Trust for payment of
benefits or expenses until the next succeeding Valuation Date. 

  

	 	(b)	If permitted under applicable law, rulings and regulations, and not a prohibited transaction under section 4975(c) of the Code or sections 406 or 407 of ERISA, the Trustee, as directed by the Administrator in its
discretion, shall put Stock to the Company on a date other than a Valuation Date, and shall be paid therefor the fair market value of such Stock determined as of the next preceding Valuation Date. 

 

	 	(c)	 The Trustee, as directed by the Administrator, may cause a special valuation of the Stock to be made by an Independent Appraiser (as defined in
Section 2.5(i)) 

  
 8 

	 	
as of the date of the put right to the Company, or it may cause benefits to be distributed based on the value of a Participant’s accounts as of the Valuation Date next preceding the date for
which payment is requested. 

  

	 	(d)	The Trustee, as directed by the Administrator, may exercise a put right to the Company and cause the fair market value of such Stock to be paid by the Company pursuant to any other arrangement agreed upon by the
Trustee, as directed by the Administrator, to the extent permitted by applicable law, rulings and regulations. 

 SECTION 4
 
 ADDITIONAL EMPLOYERS 

Any Employer (as defined in the Plan) may become a party to this Trust Agreement by: 

(a) filing with the Company and the Trustee a certified copy of a resolution of its Board of Directors to that effect; and 

(b) filing with the Trustee a certified copy of a resolution of the Board of Directors of the Company consenting to such action. 

SECTION 5  
 CHANGE OF
TRUSTEE 
  

	5.1	Resignation and Removal of Trustee. 

 A Trustee may resign at any time by giving thirty
(30) days’ advance written notice to the Company and the Administrator. The Company may remove a Trustee by giving thirty (30) days’ advance written notice to the Trustee, subject to providing the removed Trustee with
satisfactory written evidence of the appointment of a successor Trustee and of the successor Trustee’s acceptance of the trusteeship (unless there are one or more Trustees remaining after such removal, in which case the remaining Trustees shall
be the Trustee and no such evidence shall be required) and subject to the Company’s commitments regarding the term of trust services to be provided by the Trustee pursuant to the engagement letter between the Company and Trustee. The above
provisions notwithstanding, the Company and Trustee may mutually agree to waive the 30-day notice requirements associated with a change of Trustee due to resignation or removal. 

 

	5.2	Duties of Resigning or Removed Trustee and of Successor Trustee. 

 If the Trustee resigns
or is removed, it shall promptly transfer and deliver the assets of the Trust Fund to the successor Trustee(s), and may reserve such amount to provide for the payment of all fees and expenses, or taxes then or thereafter chargeable against the Trust
Fund and properly payable out of the Trust Fund without violating applicable law, to the extent not previously paid by the Company. The Company shall be obligated to reimburse the Trust for any amount reserved by the Trustee. Within 120 days, the
resigned or removed Trustee shall furnish to the Company and the successor Trustee(s) an account of its administration of the Trust from the date of its last account. Each successor Trustee shall succeed to the title to the Trust Fund vested in his
predecessor without the signing or filing of any further instrument, but any resigning or removed Trustee shall execute all documents and do all acts necessary to vest such 

  
 9 

 
title or record in any successor Trustee. Each successor shall have all the powers, rights and duties conferred by this Trust Agreement as if originally named Trustee. No successor Trustee shall
be personally liable for any act or failure to act of a predecessor Trustee. With the approval of the Administrator, a successor Trustee may accept the account rendered and the property delivered to it by its predecessor Trustee as a full and
complete discharge to the predecessor Trustee without incurring any liability or responsibility for so doing. 
  

	5.3	Filling Trustee Vacancy. 

 The Company may fill a vacancy in the office of Trustee by a
writing filed with the person or entity appointed to fill the vacancy. 
 SECTION 6  

AMENDMENT AND TERMINATION 
  

	6.1	Amendment. 

 While the Employers expect and intend to continue the Trust, the Company
reserves the right to amend the Trust at any time pursuant to an action of the Company’s Board of Directors or its designee, except that no amendment shall change the rights, duties, liabilities, and indemnification of the Trustee under this
Trust Agreement without its prior written agreement, nor reduce a Participant’s benefits to less than the amount such Participant would be entitled to receive if such Participant had resigned from the employ of the Employers on the date of the
amendment. 
  

	6.2	Termination. 

 The Trust may be terminated as to all Employees on any date specified by
the Company. The Trust will terminate as to any Employer on the first to occur of the following: 
  

	 	(a)	the date it is terminated by that Employer; 

  

	 	(b)	the date such Employer’s contributions to the Trust are permanently and completely discontinued; 

  

	 	(c)	the date such Employer is judicially declared bankrupt under Chapter 7 of the U.S. Bankruptcy Code; or 

  

	 	(d)	the dissolution of the Employer. 

 The Trustee’s powers upon termination as described
above will continue until liquidation of the Trust Fund, or the portion thereof attributable to an Employer, as the case may be. Upon termination of this Trust the Trustee shall first reserve such reasonable amounts as it may deem necessary to
provide for the payment of any expenses or fees then or thereafter chargeable to the Trust Fund. Subject to such reserve, the balance of the Trust Fund shall be liquidated and distributed by the Trustee to or for the benefit of the Participants or
their beneficiaries, as directed by the Administrator after compliance with applicable requirements of ERISA, as amended from time to time, or other applicable law, accompanied by a certification that the disposition is in accordance with the terms
of the Plan and the Trustee need not question the propriety of such certification. The Company shall have full responsibility to see that such distribution is proper and within the terms of the Plan and this Trust. 

  
 10 

 SECTION 7  

MISCELLANEOUS 
  

	7.1	Disagreement as to Acts. 

 If there is a disagreement between the Trustee and anyone as
to any act or transaction reported in any accounting, the Trustee shall have the right to have its account settled by a court of competent jurisdiction. 
  

	7.2	Persons Dealing with Trustee. 

 No person dealing with the Trustee shall be required to
see to the application of any money paid or property delivered to the Trustee, or to determine whether or not the Trustee is acting pursuant to any authority granted to it under this Agreement or the Plan. 

 

	7.3	Benefits May Not Be Assigned or Alienated. 

 Except to the extent expressly permitted by
the Code or ERISA, the interests under the Plan and this Agreement of Participants and Beneficiaries are not subject to the claims of their creditors and may not be voluntarily or involuntarily assigned, alienated or encumbered. 

 

	7.4	Evidence. 

 Evidence required of anyone under this Agreement may be by certificate,
affidavit, document or other instrument which the person acting in reliance thereon considers pertinent and reliable, and signed, made or presented by the proper party. 
  

	7.5	Waiver of Notice. 

 Any notice required under this Agreement may be waived in writing by
the person entitled thereto. 
  

	7.6	Counterparts. 

 This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original and no other counterparts need be produced. 
  

	7.7	Governing Laws and Severability. 

 This Agreement shall be construed and administered
according to the laws of the Commonwealth of Kentucky to the extent that such laws are not preempted by the laws of the United States of America. If any provision of this Agreement is held illegal or invalid, the illegality or invalidity shall not
affect the remaining provisions of the Agreement, but shall be severable, and the Agreement shall be construed and enforced as if the illegal or invalid provision had never been inserted herein. 

  
 11 

	7.8	Successors. 

 This Agreement shall be binding on the Employers, and any successors
thereto by virtue of any merger, sale, dissolution, consolidation or reorganization, on the Trustee and its successor and on all persons entitled to benefits under the Plan and their respective heirs and legal representatives. 

 

	7.9	Action. 

 Any action required or permitted to be taken by the Company under this
Agreement shall be by resolution of its Board of Directors or by a person or persons authorized by its Board of Directors. The Trustee shall not recognize or take notice of any appointment of any representative of the Company or Administrator unless
and until the Company or the Administrator shall have notified the Trustee in writing of such appointment and the extent of such representative’s authority. The Trustee may assume that such appointment and authority continue in effect until it
receives written notice to the contrary from the Company or Administrator. Any action taken or omitted to be taken by the Trustee upon direction of any representative of the Company or Administrator in accordance with this Trust and within the scope
of the representative’s authority shall be as effective for all purposes hereof as if such action or nonaction had been authorized by the Company or Administrator. 
  

	7.10	Conformance with Plan. 

 To the extent the provisions of the Plan and this Trust
Agreement conflict, the provisions of this Trust Agreement shall govern. 
  

	7.11	Indemnification. 

 The Company shall indemnify and save harmless the Trustee and its
agents, employees, and advisors from and against any and all liability for actions taken by them in connection with the Trust, including all expenses reasonably incurred in their defense, except to the extent that such actions have been conclusively
determined to result from the gross negligence or willful misconduct of the Trustee or other indemnified person. 
  

	7.12	Insurance. 

 The Company or the Trustee may purchase insurance to secure themselves, the
Fund, or other fiduciaries against liability or losses occurring by reason of an act or omission of any fiduciary, provided that such insurance shall permit recourse by the insurer against the fiduciary in case of a breach of fiduciary duty. 

 

	7.13	Headings. 

 The headings of Sections of this Agreement are for convenience of reference
only and shall have no substantive effect on the provisions of this Agreement. 

  
 12 

	7.14	Multiple Trustees. 

 In the event that more than one person shall serve as co-trustees
hereunder, then the action of a majority of the co-trustees serving at any time shall be deemed to be the action of the Trustee. 
 IN
WITNESS WHEREOF, the Company and Trustee have caused these presents to be signed and their seals to be hereunto affixed and attested by their duly authorized officers all as of the day and year first above written. 

 

							
	WITNESSES:				TRUSTEES:
			
	  
				 /s/ John E. Peck

					John E. Peck, Trustee
	  
				
			
	  
				 /s/ Billy C. Duvall

					Billy C. Duvall, Trustee
	  
				
			
	  
				 /s/ Thomas I. Miller

					Thomas I. Miller, Trustee
	  
				
			
	  
				HOPFED BANCORP, INC.
			
	  
				 /s/ John E. Peck

					Name:		John E. Peck
					Title:		President/CEO

  
 13

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