Document:

Supplemental Executive Retirement Plan

 Exhibit 10.1 

SUPPLEMENTAL EXECUTIVE 

RETIREMENT PLAN 

FOR 

GEORGE G. GLEASON, II 

BANK OF THE OZARKS 

Little Rock, Arkansas 

Effective May 4, 2010 

 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

This Supplemental Executive Retirement Plan (the “Plan”) is effective as of the
4th day of May, 2010 by and between BANK OF THE OZARKS
(the “Bank”), an Arkansas state chartered commercial bank, and George G. Gleason, II, hereinafter referred to as “Executive”. This Plan is intended to comply with Internal Revenue Code (“Code”) Section 409A and any
regulatory or other guidance issued under such Section. Any reference herein to the “Company” shall mean BANK OF THE OZARKS, INC. The Company shall be a signatory to this Plan for the sole purpose of acknowledging and consenting to the
Plan and the Bank’s performance hereunder. 
 W I T N E S S E T H: 

WHEREAS, Executive is employed by the Bank as its Chairman and Chief Executive Officer and also fills the same positions with the
Company, for which the Company periodically reimburses the Bank for a portion of Executive’s total compensation and benefit costs based on the estimated allocation of Executive’s time devoted to performance of Bank and Company duties; and

 WHEREAS, the Bank recognizes the valuable services heretofore performed for it by the Executive and wishes to
encourage his continued employment and to provide him with additional incentive to achieve corporate objectives; and 

WHEREAS, the Bank intends this Plan to be considered an unfunded arrangement, maintained primarily to provide supplemental
retirement income for its Executive, a member of a select group of management or highly compensated employees of the Bank, for tax purposes and for purposes of the Employee Retirement Income Security Act of 1974, as amended; and 

WHEREAS, the Bank has adopted this Supplemental Executive Retirement Plan which controls all issues relating to Supplemental
Retirement Benefits as described herein. 
 NOW, THEREFORE, in consideration of the premises and of the mutual promises
herein contained, the Bank and Executive agree as follows: 
 SECTION I 

DEFINITIONS 

When used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:

  

	1.1	“Accrued Benefit” means that portion of the Supplemental Retirement Benefit which is expensed and accrued by the Bank under generally accepted accounting
principles (GAAP). 

  

	1.2	“Act” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

 

	1.3	“Administrator” means the Compensation Committee of the Board. 

  

	1.4	“Bank” means Bank of the Ozarks and any successor thereto. 

  

	1.5	 “Beneficiary” means the person or persons (and their heirs) designated by Executive pursuant to Section IV as the Beneficiary to whom the
deceased Executive’s benefits are payable. If no 

  

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Beneficiary is so designated, then Executive’s Spouse, if living, will be deemed the Beneficiary. If no Beneficiary is so designated and Executive’s Spouse is not living, then the
Children will be deemed the Beneficiaries and will take on a per stirpes basis. If no Beneficiary is so designated and Executive’s Spouse is not living and there are no living Children, then the Estate of Executive will be deemed the
Beneficiary. 

  

	1.6	“Board” means the Board of Directors of the Bank, unless specifically noted otherwise. 

 

	1.7	“Cause” shall mean the willful engaging by Executive in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Bank or the
Company. For purposes of this provision, no act or failure to act, on the part of Executive, shall be considered “willful” unless it is done, or omitted to be done, by Executive in bad faith or without reasonable belief that
Executive’s action or omission was in the best interests of the Bank and the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice of counsel for the Bank
shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Bank and the Company. The cessation of employment of Executive shall not be deemed to be for Cause unless and until there
shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the entire membership of the Board (excluding from this vote and the number of members of the entire membership, the
Executive and any relatives of the Executive) at a meeting of such Board called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before such Board),
finding that, in the good faith opinion of such Board, Executive is guilty of the conduct described above, and specifying the particulars thereof in detail. 

 

	1.8	“Change in Control” of the Bank or the Company shall mean (1) a change in ownership of the Bank or the Company under paragraph (i) below, or
(2) a change in effective control of the Bank or the Company under paragraph (ii) below, or (3) a change in the ownership of a substantial portion of the assets of the Bank or the Company under paragraph (iii) below:

  

	 	(i)	Change in the ownership of the Bank or the Company. A change in the ownership of the Bank or the Company shall occur on the date that any one person, or more
than one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than 50% of the total
fair market value or total voting power of the stock of such corporation. 

  

	 	(ii)	Change in the effective control of the Bank or the Company. A change in the effective control of the Bank or the Company shall occur on the date that either
(A) any one person, or more than one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
person or persons) ownership of stock of the Bank or the Company possessing 30% or more of the total voting power of the stock of the Bank or the Company; or (B) a majority of members of the Bank’s or the Company’s Board of Directors
is replaced during any 12-month period by Directors whose appointment or election is not endorsed by a majority of the members of the corporation’s Board of Directors prior to the date of the appointment or election, provided that this
subsection (B) is inapplicable where a majority shareholder of the corporation for which board members are replaced is another corporation. 

  

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	 	(iii)	Change in the ownership of a substantial portion of the Bank’s or the Company’s assets. A change in the ownership of a substantial portion of the Bank’s
or the Company’s assets shall occur on the date that any one person, or more than one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(vii)(C)), acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or persons) assets from the Bank or the Company that have a total gross fair market value equal to more than 40% of the total gross fair market value of all of the assets of the Bank or the
Company immediately prior to such acquisition. For this purpose, gross fair market value means the value of the assets of the corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with
such assets. 

  

	 	(iv)	For all purposes hereunder, the definition of Change in Control shall be construed to be consistent with the requirements of Treasury Regulation
Section 1.409A-3(i)(5), except to the extent that such regulations are superseded by subsequent guidance. 

  

	1.9	“Children” means, and refers collectively to, Amy Denise Baden, Eric Daniel Merriman, George G. Gleason, III (a.k.a. Tripp Gleason), and Peter Ross Gleason.
If any of such Children are deceased at the time payments are due the Children under this Plan, then Children shall also include the issue of any such deceased Children who will take on a per stirpes basis. 

 

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

  

	1.11	“Company” means Bank of the Ozarks, Inc. and any successor thereto. 

 

	1.12	“Effective Date” of this Plan shall be May 4, 2010. 

  

	1.13	“Estate” means the estate of Executive. 

  

	1.14	“Executive” means George G. Gleason, II. 

  

	1.15	“Good Reason” means the initial existence of one or more of the following conditions (to which the Executive has not consented): 

 

	 	(a)	a diminution in the Executive’s base compensation; 

  

	 	(b)	a diminution in the Executive’s authority, duties, or responsibilities; 

 

	 	(c)	a diminution in the authority, duties, or responsibilities of the supervisor to whom the Executive is required to report, including a requirement that an Executive
report to a corporate officer or employee instead of reporting directly to the board of directors of a corporation; 

  

	 	(d)	a diminution in the budget over which the Executive retains authority; 

  

	 	(e)	a change in the geographic location at which the Executive must perform the services; or 

 

	 	(f)	any other action or inaction that constitutes a breach by the Bank or the Company of any employment or other agreement under which the Executive provides services to
the Bank or the Company. 

  

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	1.16	“Interest Factor,” unless specifically designated otherwise in this Subsection or in another place in this Plan, means monthly compounding or discounting, as
applicable, at a six percent (6%) annual rate. For purposes of determining present value in the event of a Change in Control, the Interest Factor shall mean 120% of the semiannual applicable federal rate (AFR) as determined under Code
Section 1274(d). 

  

	1.17	“Normal Retirement Date” means the birthday on which Executive attains age seventy (70). 

 

	1.18	“Plan Year” shall mean the calendar year. 

  

	1.19	“Post Voluntary Separation Accrued Benefit” means the Accrued Benefit determined at Executive’s Separation from Service, which is increased by the
Interest Factor until Executive’s Normal Retirement Date (such annually increased amount shall become the “Accrued Benefit”). The Accrued Benefit shall be annuitized upon the Normal Retirement Date (notwithstanding that the Executive
has a Separation of Service prior to that date) using the Interest Factor and payable in one hundred eighty (180) equal monthly installments commencing thirty (30) days following Normal Retirement Date. 

 

	1.20	“Post Normal Retirement Date Supplemental Retirement Benefit” means the Supplemental Retirement Benefit adjusted for continued employment of the Executive
after Normal Retirement Date. The adjustment shall be made by increasing the Accrued Benefit at Normal Retirement Date by the Interest Factor until the date of Executive’s Separation from Service (such increased amount shall become the
“Accrued Benefit”). The Accrued Benefit shall be annuitized upon Separation from Service using the Interest Factor and shall be payable in one hundred eighty (180) equal monthly installments commencing thirty (30) days following
the Executive’s Separation from Service after Normal Retirement Date. 

  

	1.21	“Separation from Service” means Executive’s retirement or other termination of employment with the Bank and the Company within the meaning of Code
Section 409A. No Separation from Service shall be deemed to occur due to military leave, sick leave or other bona fide leave of absence if the period of such leave does not exceed six months or, if longer, so long as Executive’s
right to reemployment is provided by law or contract. If the leave exceeds six months and Executive’s right to reemployment is not provided by law or by contract, then Executive shall have a Separation from Service on the first date immediately
following such six-month period. 

 A Separation from Service shall occur upon the date the Bank and Executive
reasonably anticipate that no further services would be performed after such date or that the level of bona fide services the Executive would perform after such date (whether as an employee or as an independent contractor) would permanently decrease
to an amount less than fifty percent (50%) of the average level of bona fide services performed over the immediately preceding thirty-six (36) months. 
  

	1.22	 “Specified Employee” means, in the event the Bank, the Company or any corporate parent is or becomes publicly traded, a “Key
Employee” as such term is defined in Code Section 416(i) without regard to paragraph 5 thereof. Notwithstanding anything to the contrary herein, in the event the Executive is a Specified Employee at the time of his Separation from Service,
no benefits shall be paid until the earlier of the Executive’s date of death or six (6) months following such Separation of Service and payment shall commence within thirty (30) days following such applicable date. If monthly
installments are deferred pursuant to the preceding sentence, any monthly installment which could have otherwise been paid notwithstanding the preceding sentence prior to the deferred commencement date, shall be accumulated and paid with the first
monthly installment paid after such 

  

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deferral. Whether and the extent to which a person is a Specified Employee shall be determined on the “Specified Employee Determination Date” which shall be December 31 of each
calendar year and shall be applicable commencing on the following April 1, in accordance with the rules set forth in the Treasury Regulations under Code Section 409A. 

 

	1.23	“Spouse” means the individual to whom Executive is legally married at the time of Executive’s death, provided, however, that the term “Spouse”
shall not refer to an individual to whom Executive is legally married at the time of death if Executive and such individual have entered into a formal separation agreement (provided that such separation agreement does not provide otherwise or state
that such individual is entitled to a portion of the benefit hereunder) or initiated divorce proceedings. 

  

	1.24	“Supplemental Retirement Benefit” means an amount equal to $32,196.67 per month payable in one hundred eighty (180) equal monthly installments commencing
thirty (30) days following Normal Retirement Date. 

  

	1.25	“Survivor’s Benefit” means an amount equal to $32,196.67 per month payable in one hundred eighty (180) equal monthly installments commencing thirty
(30) days following the date of the Executive’s death. 

 SECTION II 

ESTABLISHMENT OF RABBI TRUST 
  

	2.1	The Bank intends to establish a rabbi trust into which the Bank intends to contribute assets which shall be held therein, subject to the claims of the Bank’s
creditors in the event of the Bank’s “Insolvency” as defined in the agreement which establishes such rabbi trust. It is the intention of the Bank to make contributions to the rabbi trust to provide the Bank with a source of funds to
assist it in meeting the liabilities of this Plan. 

 SECTION III 

BENEFITS 
  

	3.1	Service to or After Normal Retirement Date. If Executive Separates from Service on his Normal Retirement Date, Executive shall be entitled to the commencement of
the Supplemental Retirement Benefit. If Executive Separates from Service after his Normal Retirement Date, Executive shall be entitled to the commencement of the Post Normal Retirement Date Supplemental Retirement Benefit. 

 

	3.2	Voluntary or Involuntary Separation from Service Prior to Normal Retirement Date. If Executive has a voluntary or involuntary Separation from Service prior to
Normal Retirement Date, Executive shall be entitled to receive the amount specified here: 

  

	 	(a)	Involuntary Separation. Executive shall be entitled to the Supplemental Retirement Benefit and commencement will be deferred to Normal Retirement Date
notwithstanding that the Executive has a Separation of Service prior to that date. Executive shall be deemed to have an involuntary Separation from Service if Executive has a voluntary Separation from Service for Good Reason.

  

	 	(b)	Voluntary Separation. Executive shall be entitled to the Post Voluntary Separation Accrued Benefit. Executive shall be deemed to have an voluntary Separation
from Service if Executive has an involuntary Separation from Service for Cause. 

  

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	3.3	Death Benefits. 

  

	 	(a)	Death After Commencement. In the event Executive dies at any time after the commencement of the payment of one hundred eighty (180) equal monthly
installments, but prior to completion of all one hundred eighty (180) payments, the Bank shall continue to pay to Executive’s Beneficiary the monthly installments in the same amount the Executive would have received for the remainder of
the unpaid one hundred eighty (180) equal monthly installments. 

  

	 	(b)	Death Prior to Separation from Service. If Executive dies prior to Separation from Service but while employed at the Bank, Executive’s Beneficiary shall be
entitled to the Survivor’s Benefit. 

  

	 	(c)	Death After Separation from Service and Prior to Commencement. If Executive dies following Separation from Service but prior to the commencement of benefit
payments to Executive, Executive’s Beneficiary shall be entitled to the payment of the amount otherwise payable to Executive under the applicable Subsection of this Section III, commencing within thirty (30) days of Executive’s death
and payable in one hundred eighty (180) equal monthly installments. 

  

	3.4	Benefit Payable Following a Change in Control. 

  

	 	(a)	If a Change in Control occurs, and within twenty-four (24) months thereafter, the Executive has an involuntary Separation from Service or a voluntary Separation
from Service for Good Reason, the Executive shall be entitled to receive a lump sum payment equal to the present value of Executive’s Supplemental Retirement Benefit at Executive’s Normal Retirement Date, or if such Separation from Service
occurs after Executive’s Normal Retirement Date, the present value of Executive’s Adjusted Supplemental Retirement Benefit at Executive’s then current age. For purposes of determining present value, the Interest Factor applicable to a
Change in Control shall apply. Such lump sum payment shall be paid within ninety (90) days of the Separation from Service, or if Executive is a Specified Employee at the time of his Separation from Service, within ninety (90) days
following the earlier of the date of the Executive’s death or six (6) months following the date of the Executive’s Separation from Service. 

  

	 	(b)	If a Change in Control shall occur after commencement of payment of one hundred eighty (180) equal monthly installments to either the Executive or the Beneficiary,
then, as the case may be, the Executive shall be entitled to receive a lump sum payment equal to the present value of the remaining monthly installments otherwise due the Executive and the Beneficiary shall be entitled to receive a lump sum payment
equal to the present value of the remaining monthly installments otherwise due the Beneficiary. For purposes of determining present value, the Interest Factor applicable to a Change in Control shall apply. Such lump sum payment shall be paid within
ninety (90) days of the date of the Change in Control. 

  

	 	(c)	 Notwithstanding any provision in this Plan to the contrary, in the event the Bank determines that part or all of the lump sum payment to or for the
benefit of the Executive pursuant to this Section 3.4 constitutes a “parachute payment” under Code Section 280G(b)(2), then, if the aggregate present value of such parachute payment, singularly or together with the aggregate
present value of any consideration, compensation or benefits to be paid to or for the benefit of 

  

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the Executive under any other plan, arrangement or agreement which constitute “parachute payments” (collectively, the “Parachute Amount”) exceeds 2.99 times the
Executive’s “base amount” under Code Section 280G(b)(3) (the “Base Amount”), the amounts constituting “parachute payments” which would otherwise be payable to or for the benefit of the Executive under this
Plan shall be reduced to the extent necessary so that the Parachute Amount is equal to 2.99 times the Executive’s Base Amount. 

  

	3.5	Additional Death Benefit—Burial Expense. In addition to the above-described death benefits, upon Executive’s death, Executive’s Beneficiary shall
be entitled to receive a one-time lump sum death benefit in the amount of Ten Thousand Dollars ($10,000.00). This benefit shall be provided specifically for the purpose of providing payment for burial and/or funeral expenses of Executive. Such death
benefit shall be payable within thirty (30) days of Executive’s death. Executive’s Beneficiary shall not be entitled to such benefit if Executive is terminated for Cause prior to death. 

 

	3.6	Single Payment. For purposes of Code Section 409A, the payments due hereunder shall be deemed a single payment. 

SECTION IV 

BENEFICIARY DESIGNATION 
  

	4.1	Executive shall make a designation of Beneficiaries by submitting to the Administrator, in substantially the form attached as Exhibit A, a written designation of
Beneficiaries. Any Beneficiary designation shall become effective only when receipt thereof is acknowledged in writing by the Administrator. 

SECTION V 

EXECUTIVE’S RIGHT TO ASSETS: 

ALIENABILITY AND ASSIGNMENT PROHIBITION 
  

	5.1	At no time shall Executive be deemed to have any lien, right, title or interest in or to any specific investment or asset of the Bank or the Company. The rights of
Executive, any Beneficiary, or any other person claiming through Executive under this Plan, shall be solely those of an unsecured general creditor of the Bank and the Company. Executive, the Beneficiary, or any other person claiming through
Executive, shall only have the right to receive from the Bank and the Company those payments so specified under this Plan. Neither Executive nor any Beneficiary under this Plan shall have any power or right to transfer, assign, anticipate,
hypothecate, mortgage, commute, modify or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance owed by
Executive or his Beneficiary, nor be transferable by operation of law in the event of bankruptcy, insolvency or otherwise. 

  

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 SECTION VI 

ACT PROVISIONS 
  

	6.1	Named Fiduciary and Administrator. The Compensation Committee of the Board shall be the Named Fiduciary and Administrator of this Plan. The Administrator shall
have the exclusive and discretionary power to determine eligibility for benefits, to decide any disputes arising under the Plan, to interpret the terms of the Plan, and the responsibility for the management, control and administration of the Plan as
established herein. The Administrator may delegate to others certain aspects of the management and operational responsibilities of the Plan, including the employment of advisors and the delegation of ministerial duties to qualified individuals.

  

	6.2	Claims Procedure and Arbitration. In the event that the Executive (or to his Beneficiary in the case of Executive’s death) believes he or she is entitled to
receive a benefit or a different benefit then the one determined by the Administrator, then a written claim must be made to the Administrator. The Administrator shall either grant or deny such claim within 90 days after receipt of such written
notice of claim (or within such other period as may mutually be agreed to by the person and the Administrator), unless special circumstances require an extension of time of up to an additional 90 days for processing the claim and appropriate notice
of such extension is given; provided, however, that any delay on the part of the Administrator in arriving at a decision shall not adversely affect benefits payable under a granted claim. 

Any person who makes a claim that is denied shall have the right to appeal the denial of his claim to the Administrator for a full review
at any time within 60 days after the claimant receives written notice of such denial. The final decision of the Administrator shall be made not later than 60 days after its receipt from the claimant of a request for review, unless special
circumstances, such as the need to hold a hearing, require an extension of time for processing, in which case a decision shall be made as soon as possible but not later than 120 days after receipt of a request for review. Such decision shall be made
in writing and shall be final and binding on the claimant. 
 If claimants continue to dispute the benefit denial based upon
completed performance of this Plan or the meaning and effect of the terms and conditions thereof, it shall be settled by arbitration administered by the American Arbitration Association (“AAA”) under its Commercial Arbitration Rules, and
judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. 
 SECTION VII

 MISCELLANEOUS 
  

	7.1	No Effect on Employment Rights. Nothing contained herein will confer upon Executive the right to be retained in the service of the Bank or the Company nor limit
the right of the Bank or the Company to discharge or otherwise deal with Executive without regard to the existence of the Plan. 

  

	7.2	State Law. The Plan is established under, and will be construed according to, the laws of the State of Arkansas, to the extent such laws are not preempted by the
Act and valid regulations published thereunder. 

  

	7.3	 Severability and Interpretation of Provisions. In the event that any of the provisions of this Plan or portion hereof are held to be inoperative
or invalid by any court of competent jurisdiction, or in the 

  

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event that any provision is found to violate Code Section 409A and would subject Executive to additional taxes and interest on the amounts deferred hereunder, or in the event that any
legislation adopted by any governmental body having jurisdiction over the Bank or the Company would be retroactively applied to invalidate this Plan or any provision hereof or cause the benefits hereunder to be taxable, then: (1) insofar as is
reasonable, effect will be given to the intent manifested in the provisions held invalid or inoperative, and (2) the validity and enforceability of the remaining provisions will not be affected thereby. In the event that the intent of any
provision shall need to be construed in a manner to avoid taxability, such construction shall be made by the Administrator in a manner that would manifest to the maximum extent possible the original meaning of such provisions.

  

	7.4	Incapacity of Recipient. In the event Executive is declared incompetent and a conservator or other person legally charged with the care of his person or Estate
is appointed, any benefits under the Plan to which such Executive is entitled shall be paid to such conservator or other person legally charged with the care of his person or Estate. 

 

	7.5	Unclaimed Benefit. Executive shall keep the Bank informed of his or her current address and the current address of his Beneficiaries. If the location of
Executive is not made known to the Bank, the Bank shall delay payment of Executive’s benefit payment(s) until the location of Executive is made known to the Bank; however, the Bank shall only be obligated to hold such benefit payment(s) for
Executive until the expiration of five (5) years. Upon expiration of the five (5) year period, the Bank may discharge its obligation by payment to Executive’s Beneficiary. If the location of Executive’s Beneficiary is not known
to the Bank, Executive and his Beneficiary(ies) shall thereupon forfeit any rights to the balance, if any, of any benefits provided for such Executive and/or Beneficiary under this Plan. 

 

	7.6	Limitations on Liability. Notwithstanding any of the preceding provisions of the Plan, no individual acting as an employee or agent of the Bank or the Company,
or as a member of the Board of the Bank or the Company shall be personally liable to Executive or any other person for any claim, loss, liability or expense incurred in connection with the Plan. 

 

	7.7	Gender. Whenever in this Plan words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter gender,
whenever they should so apply. 

  

	7.8	Effect on Other Corporate Benefit Plans. Nothing contained in this Plan shall affect the right of Executive to participate in or be covered by any qualified or
nonqualified pension, profit sharing, group, bonus or other supplemental compensation or fringe benefit agreement constituting a part of the Bank’s or Company’s existing or future compensation structure. 

 

	7.9	Suicide. Contemporaneous with and in conjunction with the establishment of this Plan, the Bank has purchased three (3) life insurance polices on the life of
the Executive. Should the Executive’s death result from suicide, whether sane or insane, such that the incontestability clause in such policies reduces or eliminates payment under one or more of such policies and the Bank cannot recover the
full amount of its premiums paid towards such policies, then the maximum benefit payable to Executive’s Beneficiary will be the greater of: (i) the excess of the policy proceeds received by the Bank over the full amount of the Bank’s
premiums paid towards such policies, and (ii) Executive’s Accrued Benefit at the time of his death. 

  

	7.10	Inurement. This Plan shall be binding upon and shall inure to the benefit of the Bank, the Company, their successors and assigns, and Executive, his successors,
heirs, executors, administrators, and Beneficiaries. 

  

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	7.11	Acceleration of Payments. Except as specifically permitted herein or in other sections of this Plan, no acceleration of the time or schedule of any payment may
be made hereunder. Notwithstanding the foregoing, payments may be accelerated hereunder by the Bank, in accordance with the provisions of Treasury Regulation Section 1.409A-3(j)(4) and any subsequent guidance issued by the United States
Treasury Department. Accordingly, payments may be accelerated, in accordance with requirements and conditions of the Treasury Regulations (or subsequent guidance) in the following circumstances: (i) as a result of certain domestic relations
orders; (ii) in compliance with ethics agreements with the Federal Government; (iii) in compliance with ethics laws or conflicts of interest laws; (iv) in limited cash-outs (but not in excess of the limit under Code Section
402(g)(1)(B)); (v) in the case of certain distributions to avoid a non-allocation year under Code Section 409(p); (vi) to apply certain offsets in satisfaction of a debt of Executive to the Bank or the Company; (vii) in satisfaction
of certain bona fide disputes between Executive and the Bank or the Company; or (viii) for any other purpose set forth in the Treasury Regulations and subsequent guidance. 	 

  

	7.12	Headings. Headings and sub-headings in this Plan are inserted for reference and convenience only and shall not be deemed a part of this Plan.

  

	7.13	12 U.S.C. § 1828(k). Any payments made to Executive pursuant to this Plan or otherwise are subject to and conditioned upon compliance with 12 U.S.C. §
1828(k) or any regulations promulgated thereunder. 

  

	7.14	Payment of Employment and Code Section 409A Taxes. Any distribution under this Plan shall be reduced by the amount of any taxes required to be withheld from
such distribution. This Plan shall permit the acceleration of the time or schedule of a payment to pay employment-related taxes as permitted under Treasury Regulation Section 1.409A-3(j) or to pay any taxes that may become due at any time that
the arrangement fails to meet the requirements of Code Section 409A and the regulations and other guidance promulgated thereunder. In the latter case, such payments shall not exceed the amount required to be included in income as the result of
the failure to comply with the requirements of Code Section 409A. 

 SECTION VIII 

AMENDMENT/TERMINATION 
  

	8.1	Amendment. This Plan shall not be amended or modified at any time, in whole or part, without the mutual written consent of Executive and the Bank, except to the
extent necessary to comply with applicable laws. 

  

	8.2	Termination of Plan. Subject to the requirements of Code Section 409A, in the event of complete termination of the Plan, the Plan shall cease to operate and
the Bank shall pay out all remaining benefits. Such complete termination of the Plan shall occur only under the following circumstances and conditions: 

  

	 	(i)	The Board may terminate the Plan within 12 months of a corporate dissolution taxed under Code Section 331, or with approval of a bankruptcy court pursuant to 11
U.S.C. §503(b)(1)(A), provided that the amounts deferred under the Plan (e.g., the Accrued Benefit) are included in Executive’s gross income in the latest of (i) the calendar year in which the Plan termination and liquidation occurs;
(ii) the first calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year in which the payment is administratively practicable. 

 

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	 	(ii)	The Board may terminate the Plan by Board action occurring within the 30 days preceding a Change in Control (but not following a Change in Control), provided that the
Plan shall only be treated as terminated if all substantially similar arrangements sponsored by the Bank and Company are terminated so that Executive and all participants under substantially similar arrangements are required to receive all amounts
of compensation deferred under the terminated arrangements within 12 months of the date of the termination of the arrangements. Following the termination of the Plan, the amount payable to Executive shall be the amount to which Executive is entitled
upon a Change in Control. 

 SECTION IX 

EXECUTION 
  

	9.1	This Plan sets forth the entire understanding of the parties hereto with respect to the transactions contemplated hereby, and any previous agreements or understandings
between the parties hereto regarding the subject matter hereof are merged into and superseded by this Plan. 

  

	9.2	This Plan shall be executed in duplicate, each copy of which, when so executed and delivered, shall be an original, but both copies shall together constitute one and
the same instrument. 

 [Signature Page Follows] 

 

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 IN WITNESS WHEREOF, the parties have caused this Plan to be executed on this
        day of             , 2010. 
  

							
	 ATTEST:             BANK OF THE OZARKS
	  		  		  	
				
	  
	  		  	By:	  	  

	Secretary	  		  		  	
				
		  		  	Title:	  	  

			
	 ATTEST:
	  		  	BANK OF THE OZARKS, INC.
				
	  
	  		  	By:	  	  

	 Secretary
	  		  		  	
				
		  		  	Title:	  	  

				
	EXECUTIVE	  		  		  	
				
	  
	  		  		  	
	George G. Gleason, II	  		  		  	

  

 12 

 Exhibit A 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

BENEFICIARY DESIGNATION 

For George G. Gleason, II 

Executive, under the terms of the Supplemental Executive Retirement Plan effective May     , 2010, hereby
designates the following Beneficiary to receive any guaranteed payments or death benefits under such Plan, following his death: 
 PRIMARY
BENEFICIARY: 
  
  

In the event the Primary Beneficiary set forth above has predeceased me, I designate the person set forth below as my Secondary Beneficiary. 

SECONDARY BENEFICIARY: 
  

 
 This Beneficiary Designation
hereby revokes any prior Beneficiary Designation which may have been in effect. Such Beneficiary Designation is revocable. 
  

					
	DATE:                     
        , 20        .	 		  	EXECUTIVE
			
	  
	 		  	  

	(WITNESS)	 		  	George G. Gleason, II
			
	  
	 		  	
	(WITNESS)	 		  	

  

 13Executive Life Insurance Agreement - Gleason

 Exhibit 10.2 

EXECUTIVE LIFE INSURANCE AGREEMENT 

FOR 

GEORGE G. GLEASON, II 

BANK OF THE OZARKS 

Little Rock, Arkansas 

Effective May 4, 2010 

 EXECUTIVE LIFE INSURANCE AGREEMENT 

This Executive Life Insurance Agreement (the “Agreement) is effective as of the 4th day of May, 2010 by and between BANK OF THE
OZARKS (the “Bank”), an Arkansas state chartered commercial bank, and George G. Gleason, II, (the “Executive”). BANK OF THE OZARKS, INC. (the “Company”), an Arkansas corporation, is a signatory to this Agreement for the
purpose of acknowledging and consenting to the Agreement, the Bank’s performance hereunder, and the Company’s obligation to reimburse the Bank for the bonus payments made pursuant hereto. 

WITNESSETH: 

WHEREAS, the Executive is employed by the Bank as its Chairman and Chief Executive Officer and also fills the same positions with
the Company, for which the Company periodically reimburses the Bank for a portion of the Executive’s total compensation and benefit costs based on the estimated allocation of the Executive’s time devoted to performance of Bank and Company
duties; 
 WHEREAS, the Bank and the Company recognize the valuable services heretofore performed for them by the
Executive and wish to encourage his continued employment and to provide him with additional incentive to achieve corporate objectives; 

WHEREAS, Company desires to help ensure that the shareholders of the Company will not be adversely affected by price fluctuations
in the Company’s stock which might result if the Executive’s estate or the estate of his spouse were to liquidate its ownership in the Company in order to pay estate taxes following the death of both Executive and his spouse, either
pre-retirement or post-retirement; and 
 WHEREAS, the Bank will provide Executive with annual bonuses pursuant to this
Agreement, which bonuses Executive intends to use to fund premiums on insurance policies which will provide liquidity to the estates of the Executive or his spouse so the need for liquidation of their ownership in the Company will be reduced or
eliminated; 
 WHEREAS, the Company shall reimburse the Bank for the cost of the bonus payments made pursuant hereto; and

 WHEREAS, the Bank has adopted this Executive Life Insurance Agreement which controls all issues relating to the bonus
payments described herein. 
 NOW, THEREFORE, in consideration of the premises and of the mutual promises herein
contained, the Bank, the Company and the Executive agree as follows: 
 SECTION I 

DEFINITIONS 

When used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:

  

	1.1	“Agreement” means this Executive Life Insurance Agreement. 

 

 1 

	1.2	“Annual Bonus” means the sum of the Net After Tax Bonus for the applicable year plus the Tax Gross Up for the applicable year. 

 

	1.3	“Bank” means Bank of the Ozarks and any successor thereto. 

  

	1.4	“Board” means the Board of Directors of the Bank. 

  

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

  

	1.6	“Company” means Bank of the Ozarks, Inc. and any successor thereto. 

 

	1.7	“Effective Date” of this Agreement shall be May 4, 2010. 

  

	1.8	“Net After Tax Bonus” means an amount equal to $216,682. 

  

	1.9	“Tax Gross Up” means an amount equal to the employment and income taxes attributable to a gross bonus amount required to realize the Net After-Tax Bonus after
deducting applicable employment and income taxes. The Tax Gross Up will be determined by using the actual employment tax rates then applicable on such amount and the marginal individual tax rates for state and federal income taxes in effect for the
Executive’s tax year which includes the date of payment of the Annual Bonus and assuming that the Executive’s income for the tax year equals his income for the immediately preceding tax year. 

SECTION II 

BONUSES 
  

	2.1	 Annual Bonuses. In order to carry out the purpose of this Agreement, the Bank has agreed to pay the Executive a bonus amount equal to the Annual
Bonus beginning on or about May 4th, 2010 and on or about
May 4th of the following calendar years, but no later
than ninety (90) days from each May 4th, until
the earlier of (i) a total of fourteen (14) annual payments of the Annual Bonus have been made, or (ii) the Executive’s termination of employment with both the Bank and the Company for any reason, including death.

  

	2.2	Evidence of Insurance. The Executive shall provide the Personnel and Compensation Committees of the Bank and the Company with such documentation as such
committees may, from time to time, reasonably require to document (i) the use of such Net After Tax Bonus amounts for the purpose of paying such insurance premiums and (ii) the amount and status of such insurance policies.

 SECTION III 

UNSECURED GENERAL CREDITOR 
  

	3.1	Unsecured General Creditor. The rights of the Executive, or any other person claiming through the Executive, shall be solely those of an unsecured general
creditor of the Bank and the Company in the same manner as any other creditor having a general claim for matured and unpaid compensation. At no time shall the Executive be deemed to have any lien, right, title or interest in or to any specific
investment or to any assets of the Bank or the Company. The Executive or any other person claiming through the Executive, shall only have the right to receive from the Bank those payments or amounts so specified under this Agreement.

  

 2 

 SECTION IV 

MISCELLANEOUS 
  

	4.1	No Effect on Employment Rights. Nothing contained herein will confer upon Executive the right to be retained in the service of the Bank or the Company nor limit
the right of the Bank or the Company to discharge or otherwise deal with Executive without regard to the existence of this Agreement. 

  

	4.2	State Law. The Agreement is established under, and will be construed according to, the laws of the State of Arkansas. 

 

	4.3	Severability. In the event that any of the provisions of this Agreement or portion hereof are held to be inoperative or invalid by any court of competent
jurisdiction, or in the event that any provision is found to violate Code Section 409A and would subject Executive to additional taxes and interest on the amounts deferred hereunder, or in the event that any legislation adopted by any
governmental body having jurisdiction over the Bank or the Company would be retroactively applied to invalidate this Agreement or any provision hereof or cause the benefits hereunder to be taxable, then: (i) insofar as is reasonable, effect
will be given to the intent manifested in the provisions held invalid or inoperative, and (ii) the validity and enforceability of the remaining provisions will not be affected thereby. In the event that the intent of any provision shall need to
be construed in a manner to avoid taxability, such construction shall be made by the Bank in a manner that would manifest to the maximum extent possible the original meaning of such provisions. 

 

	4.4	Limitations on Liability. Notwithstanding any of the preceding provisions of the Agreement, no individual acting as an employee or agent of the Bank or the
Company, or as a member of the Board of the Bank or the Board of Directors of the Company shall be personally liable to the Executive or any other person for any claim, loss, liability or expense incurred in connection with the Agreement.

  

	4.5	Gender. Whenever in this Agreement words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter
gender, whenever they should so apply. 

  

	4.6	Effect on Other Corporate Benefit Agreements. Nothing contained in this Agreement shall affect the right of the Executive to participate in or be covered by any
qualified or non-qualified pension, profit sharing, group, bonus or other supplemental compensation or fringe benefit agreement constituting a part of the Bank’s or Company’s existing or future compensation structure.

  

	4.7	Inurement. This Agreement shall be binding upon and shall inure to the benefit of the Bank, the Company, its successors and assigns, and the Executive, his
successors, heirs, executors, administrators, and beneficiaries. 

  

	4.8	Headings. Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed a part of this Agreement.

  

	4.9	 Compliance with Code §409A. Notwithstanding any provision of the Agreement to the contrary, in the event that the Board determines that any
amounts payable hereunder will be taxable to Executive 

  

 3 

	 	
under Code Section 409A and related Department of Treasury guidance prior to payment to Executive of such amount, the Board may (i) adopt such amendments to the Agreement and
appropriate policies and procedures, including amendments and policies with retroactive effect, that the Board determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Agreement and/or (b) take
such other actions as the Board determines necessary or appropriate to avoid the imposition of an additional tax under Code Section 409A. The Board shall implement the provisions of this Section 4.9 in good faith; provided, that neither
the Bank, the Company, the Board, nor any of the Bank’s or any of its subsidiaries’ or parents’ employees or representatives shall have any liability to any person with respect to this Section 4.9. 

SECTION V 

AMENDMENT/TERMINATION 
  

	5.1	Amendment or Termination. The Bank reserves the right to amend or terminate the Agreement when, with the mutual consent of the Executive it is decided that such
amendment or termination is advisable. Notwithstanding the above, after the final Annual Bonus is paid, this Agreement shall terminate. 

SECTION VI 

EXECUTION 
  

	6.1	This Agreement set forth the entire understanding of the parties hereto with respect to the transactions contemplated hereby, and any previous agreements or
understandings between the parties hereto regarding the subject matter hereof are merged into and superseded by this Agreement. 

  

	6.2	This Agreement shall be executed in duplicate, each copy of which, when so executed and delivered, shall be an original, but both copies shall together constitute one
and the same instrument. 

 [Signature Page Follows] 

 

 4 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on this
         day of             , 2010. 
  

							
	 ATTEST:
	  		 	BANK OF THE OZARKS
				
	  
	  		 	By:	  	  

	 Secretary
	  		 		  	
				
		  		 	Title:	  	  

			
	 ATTEST:
	  		 	BANK OF THE OZARKS, INC.
				
	  
	  		 	By:	  	  

	 Secretary
	  		 		  	
				
		  		 	Title:	  	  

				
	 .
	  		 		  	
				
	 EXECUTIVE
	  		 		  	
				
	  
	  		 		  	
	 George G. Gleason, II
	  		 		  	

  

 5

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