Document:

2008 Management Equity Incentive Plan

 Exhibit 10.1 
 MINE SAFETY APPLIANCES COMPANY 
 2008 MANAGEMENT EQUITY INCENTIVE PLAN 
 SECTION 1. PURPOSE. 
 The purpose of the 2008
Management Equity Incentive Plan of Mine Safety Appliances Company (the “Plan”) is to benefit the Company’s shareholders by encouraging high levels of performance by individuals whose performance is a key element in achieving the
Company’s continued success by rewarding the creation of shareholder value, and to enable the Company to recruit, reward, retain and motivate employees to work as a team to achieve the Company’s goals. 
 SECTION 2. DEFINITIONS IN LAST SECTION. 
 For purposes
of the Plan, capitalized terms, unless defined where the respective term first appears in this Plan, shall have the meanings given in the last Section hereof. 
 SECTION 3. ELIGIBILITY. 
 Employees are eligible to receive Awards under the Plan; provided however Awards may be granted
only to Employees who are designated as Participants from time to time by the Committee. The Committee shall determine which Employees shall be Participants, the types of Awards to be made to Participants and the terms, conditions and limitations
applicable to the Awards. 
 SECTION 4. AWARDS. 
 Awards may include, but are not limited to, those described in this Section 4. The Committee may grant Awards singly, in tandem or in combination with other Awards, as the Committee may in its sole discretion determine; provided that
Non-Qualified Stock Options may not be granted in tandem with Incentive Stock Options. Subject to the other provisions of this Plan, Awards may also be granted in combination or in tandem with, in replacement of, or as alternatives to, grants or
rights under this Plan and any other employee benefit or compensation plan of the Company. 
 4.1 Stock Options 
 A Stock Option is a right to purchase a specified number of Shares at a specified price during such specified time as the Committee shall determine.

  

	 	(a)	Options granted may be either of a type that complies with the requirements of incentive stock options as defined in Section 422 of the Code (“Incentive Stock
Options”) or of a type that does not comply with such requirements (“Non-Qualified Stock Options”). The requirements imposed by the Code and the regulations thereunder for qualification as an Incentive Stock Option, whether or not
specified in this Plan, shall be deemed incorporated within any Award Agreement pertaining to an Incentive Stock Option. 

	 	(b)	The exercise price per Share of any Stock Option shall be no less than the Fair Market Value per Share subject to the option on the date the Stock Option is granted, except that in
the case of an Incentive Stock Option granted to an Employee who, immediately prior to such grant, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any subsidiary (a
“Ten Percent Employee”), the exercise price per Share shall not be less than one hundred ten percent (110%) of such Fair Market Value per Share on the date the Incentive Stock Option is granted. For purposes of this
Section 4.1(b), an individual (i) shall be considered as owning not only shares of stock owned individually but also all shares of stock that are at the time owned, directly or indirectly, by or for the spouse, ancestors, lineal
descendants and brothers and sisters (whether by the whole or half blood) of such individual and (ii) shall be considered as owning proportionately any shares owned, directly or indirectly, by or for any corporation, partnership, estate or
trust in which such individual is a shareholder, partner or beneficiary. 

  

	 	(c)	The term of any Stock Option which is intended to be an Incentive Stock Option shall not be greater than ten years from its date of grant, except that in the case of a Ten Percent
Employee, such term shall not be greater than five years. 

  

	 	(d)	A Stock Option may be exercised, in whole or in part, by giving written notice of exercise to the Company, specifying the number of Shares to be purchased, and the Stock Option may
be subject to performance conditions and other terms as the Committee may determine from time to time, consistent with the Plan. 

  

	 	(e)	At the discretion of, and in accordance with the rules established by the Committee, the exercise price of the Stock Option may be paid (i) by one or any combination of the
following: in cash or the tender of Stock already owned by the Participant for more than six months (or such other period of time as the Committee deems appropriate) having a Fair Market Value on the date of exercise equal to the option price for
the shares being purchased or (ii) by providing cash forwarded through a broker or other agent-sponsored exercise or financing program or (iii) through such other means the Committee determines are consistent with the Plan’s purpose
and applicable law. No fractional Shares will be issued or accepted. 

  

	 	(f)	 Notwithstanding any other provision contained in the Plan or in any Award Agreement, but subject to the possible exercise of the Committee’s discretion
contemplated in the last sentence of this Section 4.1(f), the aggregate Fair Market Value on the date of grant, of the Shares with respect to which Incentive Stock Options are exercisable for the first time by an Employee during any calendar
year under all plans of the corporation employing such Employee, any parent or subsidiary corporation of such corporation and any predecessor corporation of any such corporation shall not exceed $100,000, or such other or successor limit 

  

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imposed by the Code. If the date on which one or more of such Incentive Stock Options could first be exercised would be accelerated pursuant to any provision
of the Plan or any Award Agreement, and the acceleration of such exercise date would result in a violation of the restriction set forth in the preceding sentence, then, notwithstanding any such provision, but subject to the provisions of the next
succeeding sentence, the exercise dates of such Incentive Stock Options shall be accelerated only to the date or dates, if any, that do not result in a violation of such restriction and, in such event, the exercise dates of the Incentive Stock
Options with the lowest option prices shall be accelerated to the earliest such dates. The Committee may, in its discretion, authorize the acceleration of the exercise date of one or more Incentive Stock Options even if such acceleration would
violate the $100,000 restriction set forth in the first sentence of this paragraph and even if such Incentive Stock Options are thereby converted in whole or in part to Non-Qualified Stock Options. 

  

	 	(g)	Unless otherwise provided in an Award Agreement, if the recipient of a Stock Option ceases to be an Employee of the Company and its Subsidiaries for any reason, any outstanding
Stock Options held by the optionee shall be exercisable according to the following provisions and shall otherwise terminate: 

  

	 	(i)	If an optionee ceases to be an Employee for any reason other than resignation without the consent of the Company, termination for cause, Retirement, Disability or death, any then
outstanding Stock Option held by such optionee which is exercisable by the optionee immediately prior to termination shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within one year after the date
the optionee terminates employment, whichever is the shorter period; 

  

	 	(ii)	If the optionee is terminated for cause, any outstanding Stock Option held by the optionee, whether or not exercisable immediately prior to termination, shall terminate as of the
date of resignation or termination; 

  

	 	(iii)	If an optionee resigns without the consent of the Company, any then outstanding Stock Option held by such optionee which is exercisable by the optionee immediately prior to
termination shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within thirty days after the date the optionee terminates employment, whichever is the shorter period; 

  

	 	(iv)	If an optionee terminates employment by reason of Retirement, any then outstanding Stock Option held by the optionee at the time of Retirement (whether or not exercisable by the
optionee prior to Retirement) shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within five years after the date the optionee terminates employment, whichever is the shorter period;

  

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	 	(v)	If an optionee terminates employment by reason of Disability, any then outstanding Stock Option held by the Optionee at the time of termination of employment (whether or not
exercisable by the optionee prior to termination of employment) shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within five years after the date the optionee terminates employment, whichever is
the shorter period; 

  

	 	(vi)	Following the death of an optionee during employment with the Company or a Subsidiary, any outstanding Stock Option held by the optionee at the time of death (whether or not
exercisable by the optionee immediately prior to death) shall be exercisable by the person entitled to do so under the Will of the optionee, or, if the optionee shall fail to make testamentary disposition of the Stock Option or shall die intestate,
by the legal representative of the optionee at any time prior to the expiration date of such Stock Option or within five years after the date of death, whichever is the shorter period; and 

  

	 	(vii)	Following the death of an optionee after ceasing to be an Employee and during a period when a Stock Option is exercisable, any outstanding Stock Option held by the optionee at the
time of death shall be exercisable by such person entitled to do so under the Will of the optionee or by such legal representative (but only to the extent the Stock Option was exercisable by the optionee immediately prior to the death of the
optionee) within five years after the date of death, but not later than the expiration date of such Stock Option. 

 4.2 Stock Appreciation
Rights 
 A Stock Appreciation Right is a right to receive, upon surrender of the right, an amount payable in cash and/or Shares under
such terms and conditions as the Committee shall determine. 
  

	 	(a)	A Stock Appreciation Right may be granted in tandem with part or all of (or in addition to, or completely independent of) a Stock Option or any other Award under this Plan. A Stock
Appreciation Right issued in tandem with a Stock Option may only be granted at the time of grant of the related Stock Option. 

  

	 	(b)	The amount payable in cash and/or Shares with respect to each right shall be equal in value to a percentage (including up to 100%) of the amount by which the Fair Market Value per
Share on the exercise date exceeds the Fair Market Value per Share on the date of grant of the Stock Appreciation Right. The applicable percentage shall be established by the Committee. The Award Agreement may state whether the amount payable is to
be paid wholly in cash, wholly in Shares or partly in each; if the Award Agreement does not so state the manner of payment, the Committee shall determine such manner of payment at the time of payment. The amount payable in Shares, if any, is
determined with reference to the Fair Market Value per Share on the date of exercise. 

  

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	 	(c)	Stock Appreciation Rights issued in tandem with Stock Options shall be exercisable only to the extent that the Stock Options to which they relate are exercisable. Upon exercise of
the tandem Stock Appreciation Right, and to the extent of such exercise, the Participant’s underlying Stock Option shall automatically terminate. Similarly, upon the exercise of the tandem Stock Option, and to the extent of such exercise, the
Participant’s related Stock Appreciation Right shall automatically terminate. 

  

	 	(d)	Notwithstanding any other provision of this Plan to the contrary, with respect to a Stock Appreciation Right granted in connection with an Incentive Stock Option: (i) the Stock
Appreciation Right will expire no later than the expiration of the underlying Incentive Stock Option; (ii) the value of the payout with respect to the Stock Appreciation Right may be for no more than one hundred percent (100%) of the
difference between the exercise price of the underlying Incentive Stock Option and the Fair Market Value of the Shares subject to the underlying Incentive Stock Option at the time the Stock Appreciation Right is exercised; and (iii) the Stock
Appreciation Right may be exercised only when the Fair Market Value of the Shares subject to the Incentive Stock Option exceeds the per Share exercise price of the Incentive Stock Option. 

  

	 	(e)	Unless otherwise provided in an Award Agreement, the post-termination of employment provisions of Section 4.1(g) shall also apply to stock appreciation rights.

 4.3 Restricted Stock 
  

	 	(a)	Restricted Stock is Stock that is issued to a Participant and is subject to such terms, conditions and restrictions as the Committee deems appropriate, which may include, but are
not limited to, restrictions upon the sale, assignment, transfer or other disposition of the Restricted Stock and the requirement of forfeiture of the Restricted Stock upon termination of employment under certain specified conditions and/or the
failure to achieve performance conditions. The restriction period applicable to Restricted Stock shall, in the case of a time-based restriction, be not less than three years, with no more frequent than ratable vesting over such period or, in the
case of a performance-based restriction period, be not less than one year. The Committee may provide for the lapse of any such term or condition or waive any term or condition based on such factors or criteria as the Committee may determine. Subject
to the restrictions stated in this Section 4.3 and in the applicable Award Agreement, the Participant shall have, with respect to Awards of Restricted Stock, all of the rights of a shareholder of the Company, including the right to vote the
Restricted Stock and the right to receive any cash dividends on such Stock. Unless otherwise determined by the Committee, dividends or other distributions on Restricted Stock which are paid in Shares or other securities or property shall be held
subject to the same terms, conditions and restrictions as the Restricted Stock on which they are paid. 

  

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	 	(b)	Unless otherwise provided in an Award Agreement, if the recipient of Restricted Stock ceases to be an Employee of the Company and its Subsidiaries for any reason, any outstanding
shares of Restricted Stock held by the awardee shall vest or be forfeited according to the following provisions: 

  

	 	(i)	If an awardee ceases to be an Employee by reason of Retirement, any shares of Restricted Stock held by the awardee at the time of Retirement shall immediately vest;

  

	 	(ii)	If an awardee ceases to be an Employee by reason of Disability, any shares of Restricted Stock held by the awardee at the time of termination of employment shall immediately vest;

  

	 	(iii)	If an awardee ceases to be an Employee by reason of death, any shares of Restricted Stock held by the awardee at the time of termination of employment shall immediately vest; and

  

	 	(iv)	If an awardee ceases to be an Employee for any reason other than Retirement, Disability or death, any shares of Restricted Stock held by the awardee at the time of termination of
employment shall be immediately forfeited. 

 4.4 Performance Awards 
  

	 	(a)	Performance Awards may be granted under this Plan from time to time based on such terms and conditions as the Committee deems appropriate; provided that such Awards shall not be
inconsistent with the terms and purposes of this Plan. Performance Awards are Awards the payment or vesting of which is contingent upon the achievement of specified levels of performance under specified Performance Criteria during a specified
Performance Period by the Company, a subsidiary or subsidiaries, any branch, department, business unit or other portion thereof or the Participant individually, and/or upon a comparison of such performance with the performance of a peer group of
corporations, prior Performance Periods or other measure selected or defined by the Committee at the time the Performance Award is granted. Performance Awards may be in the form of performance units, performance shares, performance-based options
pursuant to Section 4.1 and such other forms of Performance Awards as the Committee shall determine. The maximum amount that may be paid under all Performance Awards under the Plan to any one Participant during a calendar year shall in no event
exceed $5,000,000, in the case of Performance Awards paid in cash or property (other than Shares) and 100,000 Shares, in the case of Performance Awards paid in Shares. In the case of multi-year Performance Periods, the amount which is earned in any
one calendar year is the amount paid for the Performance Period divided by the number of calendar years in the period. In applying this limit, the amount of cash and the number of Shares earned by a Participant shall be measured as of the close of
the applicable calendar year which ends the Performance Period, regardless of the fact that certification by the Committee and actual payment to the Participant may occur in a subsequent calendar year or years. 

  

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	 	(b)	Following completion of the applicable Performance Period, and prior to any payment of a Performance Award to the Participant, the Committee shall determine in accordance with the
terms of the Performance Award and shall certify in writing whether the applicable performance goal or goals were achieved, or the level of such achievement, and the amount, if any, earned by the Participant based upon such performance. For this
purpose, approved minutes of the meeting of the Committee at which certification is made shall be sufficient to satisfy the requirement of a written certification. Performance Awards are not intended to provide for the deferral of compensation, such
that, unless a deferred election or arrangement is otherwise offered consistent with Section 409A of the Code, payment of Performance Awards shall be paid within two and one-half months following the end of the calendar year in which vesting
occurs or such other time period if and to the extent as may be required to avoid characterization of such Awards as deferred compensation. 

  

	 	(c)	Unless otherwise provided in an Award Agreement, the following provisions shall apply if the recipient of a Performance Award ceases to be an Employee of the Company and its
Subsidiaries for any reason prior to payment of the Performance Award: 

  

	 	(i)	If an awardee ceases to be an Employee by reason of Retirement, the Employee will be entitled to a pro-rata portion of the Performance Award based upon the number of whole and
partial months of employment during the Performance Period, contingent upon achievement of the performance goals and subject to any Negative Discretion retained by the Committee; 

  

	 	(ii)	If an awardee ceases to be an Employee by reason of Disability, the Employee will be entitled to a pro-rata portion of the Performance Award based upon the number of whole and
partial months of employment during the Performance Period, contingent upon achievement of the performance goals and subject to any Negative Discretion retained by the Committee; 

  

	 	(iii)	If an awardee ceases to be an Employee by reason of death, the Employee will be entitled to a pro-rata portion of the Performance Award based upon the number of whole and partial
months of employment during the Performance Period, contingent upon achievement of the performance goals and subject to any Negative Discretion retained by the Committee; and 

  

	 	(iv)	If an awardee ceases to be an Employee for any reason other than Retirement, Disability or death, any Performance Award shall be immediately forfeited. 

  

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 4.5 Other Awards 
 The Committee may from time to time grant Stock, other Stock-based and non-Stock-based Awards under the Plan (singly, in tandem or in combination with other Awards), including without limitation those Awards pursuant
to which Shares are or may in the future be acquired, Awards denominated in Stock units, securities convertible into Stock, phantom securities, dividend equivalents and cash. The Committee shall determine the terms and conditions of such other
Stock, Stock-based and non-Stock-based Awards, provided that such Awards shall not be inconsistent with the terms and purposes of this Plan. Other Awards are not intended to provide for the deferral of compensation, such that payment of other Awards
shall be paid within two and one-half months following the end of the calendar year in which vesting occurs or such other time period if and to the extent as may be required to avoid characterization of such Awards as deferred compensation.

 SECTION 5. AWARD AGREEMENTS. 
 Each
Award under this Plan shall be evidenced by an Award Agreement setting forth the number of Shares or other securities, Stock Appreciation Rights, or units subject to the Award, if any, and such other terms and conditions applicable to the Award as
are determined by the Committee consistent with the Plan, including without limitation, the ability to vary particular Award Agreement terms as provided in the Plan. 
  

	 	(a)	Award Agreements shall include the following terms: 

  

	 	(i)	Non-assignability: A provision that the relevant Award shall not be assigned, pledged or otherwise transferred except by will or by the laws of descent and distribution and that
during the lifetime of a Participant, the Award shall be exercised only by such Participant or by the Participant’s guardian or legal representative; provided, however, that, in the Committee’s discretion, and except in the case of
Incentive Stock Options, an Award Agreement may expressly provide for specifically limited transferability. 

  

	 	(ii)	Termination of Employment: A provision describing the treatment of an Award in the event of the Retirement, Disability, death or other termination of a Participant’s employment
with the Company, including but not limited to terms relating to the vesting, time for exercise, forfeiture or cancellation of an Award in such circumstances. 

  

	 	(iii)	Rights as Shareholder: A provision that a Participant shall have no rights as a shareholder with respect to any securities covered by an Award until the date the Participant becomes
the holder of record. Except as provided in Section 8 hereof, no adjustment shall be made for dividends or other rights, unless the Award Agreement specifically requires such adjustment, in which case, grants of dividend equivalents or similar
rights shall not be considered to be a grant of any other shareholder right. 

  

	 	(iv)	 Withholding: A provision requiring the withholding of applicable taxes required by law from all amounts paid in satisfaction of an Award to a 

  

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Participant. In the case of an Award paid in cash, the withholding obligation shall be satisfied by withholding the applicable amount and paying the net
amount in cash to the Participant. In the case of Awards paid in Shares or other securities of the Company, (i) a Participant may satisfy the withholding obligation by paying the amount of any taxes in cash, (ii) with the approval of the
Committee (or, in the case of deduction, by the unilateral action of the Committee), Shares or other securities may be deducted by the Company from the payment or delivered to the Company by the Participant to satisfy the obligation in full or in
part as long as such withholding or delivery of Shares or other securities does not violate any applicable laws, rules or regulations of federal, state or local authorities. The number of Shares or other securities to be deducted or delivered shall
be determined by reference to the Fair Market Value of such Shares or securities on the applicable date. 

  

	 	(b)	Award Agreements may include such other terms as are necessary and appropriate to effect an Award to the Participant, including but not limited to (i) the term of the Award,
(ii) vesting provisions, (iii) deferrals, (iv) any requirements for continued employment with the Company, (v) any other restrictions or conditions (including performance requirements) on the Award and the method by which
restrictions or conditions lapse, (vi) the effect upon the Award of a Change in Control, (vii) the price, amount or value of Awards, (viii) such Participant’s permitted transferees, if any, (ix) all Shares issued or issuable
to such Participant in connection with an Award in the event of such Participant’s termination of employment, and (x) any other terms and conditions which the Committee shall deem necessary and desirable. 

 SECTION 6. SHARES OF STOCK SUBJECT TO THE PLAN. 
  

	 	(a)	Subject to the adjustment provisions of Section 8 hereof, the maximum aggregate number of Shares which may be granted pursuant to the Plan is 1,800,000 Shares, all of which may
be issued as Incentive Stock Options. 

  

	 	(b)	Any Shares which are subject to any unexercised or undistributed portion of any terminated, expired, exchanged or forfeited Award (or Awards settled in cash in lieu of Shares) shall
become available for grant pursuant to new Awards. If the exercise price of an Award is paid by delivering to the Company Shares previously owned by the Participant or if Shares are delivered or withheld for purposes of satisfying a tax withholding
obligation, the number of Shares covered by the Award equal to the number of Shares so delivered or withheld shall, however, be counted against the number of Shares granted and shall not again be available for Awards under the Plan.

  

	 	(c)	The Committee may make such additional rules for determining the number of Shares granted under the Plan as it deems necessary or appropriate. 

  

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	 	(d)	The Stock which may be issued pursuant to an Award under the Plan may be treasury Stock or authorized but unissued Stock or Stock acquired, subsequently or in anticipation of the
transaction, in the open market or otherwise to satisfy the requirements of the Plan, or any combination of such Stock. 

  

	 	(e)	Subject to the adjustment provisions of Section 8 hereof, the maximum aggregate number of Shares available for grants of Stock Options or Stock Appreciation Rights to any one
Participant under the Plan shall not exceed 150,000 Shares per calendar year. The limitation in the preceding sentence shall be interpreted and applied in a manner consistent with Section 162(m) of the Code. 

 SECTION 7. ADMINISTRATION. 
  

	 	(a)	The Plan and all Awards granted pursuant thereto shall be administered by the Committee so that, insofar as is possible and practicable, transactions with respect to Awards under
the Plan shall be exempt from Section 16(b) of the Exchange Act. A majority of the members of the Committee shall constitute a quorum. The vote of a majority of a quorum (or the unanimous consent in writing of the members of the Committee)
shall constitute action by the Committee. 

  

	 	(b)	The Committee shall periodically determine the Participants in the Plan and the nature, amount, pricing, timing, and other terms of Awards to be made to such individuals.

  

	 	(c)	The Committee shall have the power to interpret and administer the Plan. All questions of interpretation with respect to the Plan, the number of Shares or other securities, Stock
Appreciation Rights, or units granted, and the terms of any Award Agreements shall be determined by the Committee, and its determination shall be final and conclusive upon all parties in interest. In the event of any conflict between an Award
Agreement and the Plan, the terms of the Plan shall govern. 

  

	 	(d)	The Committee may delegate to the officers or employees of the Company the authority to execute and deliver such instruments and documents, to do all such ministerial acts and
things, and to take all such other ministerial steps deemed necessary, advisable or convenient for the effective administration of the Plan in accordance with its terms and purpose. 

  

	 	(e)	Notwithstanding the foregoing provisions of this Section 7, no power given the Committee herein shall be used after a Change in Control to affect detrimentally the rights of
any Participant with respect to any Awards hereunder which are outstanding immediately prior to the Change in Control. 

  

	 	(f)	Notwithstanding any other provision of the Plan, the Committee may determine that an Award shall be forfeited and/or shall be repaid to the Company if the Participant engages in
misconduct or violation of any Company policy, including without limitation the terms of any Company recoupment policy, or similar policy. 

  

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 SECTION 8. EQUITABLE ADJUSTMENTS. 
 If a dividend or other distribution shall be declared upon the Common Stock payable in shares of the Common Stock, the number of shares of Common Stock then subject to any outstanding Options, Stock Appreciation
Rights, Performance Awards or other Awards, the number of shares of Common Stock which may be issued under the Plan but are not then subject to outstanding Options, Stock Appreciation Rights, Performance Awards or other Awards and the maximum number
of shares as to which Options, Stock Appreciation Rights or Performance Awards may be granted and as to which shares may be awarded under Sections 4.4 and 6(e), shall be adjusted by adding thereto the number of shares of Common Stock which
would have been distributable thereon if such shares had been outstanding on the date fixed for determining the shareholders entitled to receive such stock dividend or distribution. Shares of Common Stock so distributed with respect to any
Restricted Stock held in escrow shall also be held by the Company in escrow and shall be subject to the same restrictions as are applicable to the Restricted Stock on which they were distributed. 
 If the outstanding shares of Common Stock shall be changed into or exchangeable for a different number or kind of shares of stock or other securities of
the Company or another corporation, or cash or other property, whether through reorganization, reclassification, recapitalization, stock split-up, combination of shares, merger or consolidation, then there shall be substituted for each share of
Common Stock subject to any then outstanding Option, Stock Appreciation Right, Performance Award or Other Award, and for each share of Common Stock which may be issued under the Plan but which is not then subject to any outstanding Option, Stock
Appreciation Right, Performance Award or Other Award, the number and kind of shares of stock or other securities (and in the case of outstanding Options, Stock Appreciation Rights, Performance Awards or other Awards, the cash or other property) into
which each outstanding share of the Common Stock shall be so changed or for which each such share shall be exchangeable. Unless otherwise determined by the Committee in its discretion, any such stock or securities, as well as any cash or other
property, into or for which any Restricted Stock held in escrow shall be changed or exchangeable in any such transaction shall also be held by the Company in escrow and shall be subject to the same restrictions as are applicable to the Restricted
Stock in respect of which such stock, securities, cash or other property was issued or distributed. 
 In case of any adjustment or
substitution as provided for in this Section 8, the aggregate option price for all Shares subject to each then outstanding Option, Stock Appreciation Right, Performance Award or Other Award, prior to such adjustment or substitution shall be the
aggregate option price for all shares of stock or other securities (including any fraction), cash or other property to which such Shares shall have been adjusted or which shall have been substituted for such Shares. Any new option price per share or
other unit shall be carried to at least three decimal places with the last decimal place rounded upwards to the nearest whole number. 
  

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 If the outstanding shares of the Common Stock shall be changed in value by reason of any spin-off,
split-off or split-up, or dividend in partial liquidation, dividend in property other than cash, or extraordinary distribution to shareholders of the Common Stock, (a) the Committee shall make any adjustments to any then outstanding Option,
Stock Appreciation Right, Performance Award or Other Award, which it determines are equitably required to prevent dilution or enlargement of the rights of optionees and awardees which would otherwise result from any such transaction, and
(b) unless otherwise determined by the Committee in its discretion, any stock, securities, cash or other property distributed with respect to any Restricted Stock held in escrow or for which any Restricted Stock held in escrow shall be
exchanged in any such transaction shall also be held by the Company in escrow and shall be subject to the same restrictions as are applicable to the Restricted Stock in respect of which such stock, securities, cash or other property was distributed
or exchanged. 
 No adjustment or substitution provided for in this Section 8 shall require the Company to issue or sell a fraction of a
Share or other security. Accordingly, all fractional Shares or other securities which result from any such adjustment or substitution shall be eliminated and not carried forward to any subsequent adjustment or substitution. Owners of Restricted
Stock held in escrow shall be treated in the same manner as owners of Common Stock not held in escrow with respect to fractional Shares created by an adjustment or substitution of Shares, except that, unless otherwise determined by the Committee in
its discretion, any cash or other property paid in lieu of a fractional Share shall be subject to restrictions similar to those applicable to the Restricted Stock exchanged therefor. In the event of any other change in or conversion of the Common
Stock, the Committee may in its discretion adjust the outstanding Awards and other amounts provided in the Plan in order to prevent the dilution or enlargement of rights of Participants. 
 SECTION 9. CHANGE IN CONTROL. 
 Notwithstanding any other provision of the Plan to the contrary, and
unless the applicable Award Agreement shall otherwise provide, immediately prior to any Change in Control of the Company, (i) all Stock Options and freestanding Stock Appreciation Rights which are then outstanding hereunder shall become fully
vested and exercisable, (ii) all restrictions with respect to Shares of Restricted Stock which are then outstanding hereunder shall lapse, and such Shares shall be fully vested and nonforfeitable, and (iii) with respect to all Performance
Awards which are then outstanding hereunder, all uncompleted Performance Periods shall terminate, the target level of performance set forth with respect to each Performance Criterion under such Performance Awards shall be deemed to have been
attained and a pro rata portion (based on the ratio of (i) the number of full and partial months which have elapsed from the beginning of the Performance Period through the Change in Control to (ii) the number of months originally
contained in the Performance Period) of each such Performance Award shall become vested and the remainder of each such Performance Award shall be forfeited. 
 SECTION 10. RIGHTS OF EMPLOYEES. 
  

	 	(a)	Status as an eligible Employee shall not be construed as a commitment that any Award will be made under the Plan to such eligible Employee or to eligible Employees generally.

  

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	 	(b)	Nothing contained in the Plan (or in any other documents related to this Plan or to any Award) shall confer upon any Employee or Participant any right to continue in the employ of
the Company or any of its subsidiaries or constitute any contract or limit in any way the right of the Company or any subsidiary to change such person’s compensation or other benefits or to terminate the employment of such person with or
without cause. 

 SECTION 11. COMPLIANCE WITH APPLICABLE LEGAL REQUIREMENTS. 
 Awards shall be subject to the requirement that if at any time the Committee shall determine, in its discretion, that the listing, registration or
qualification of the Shares subject to the Awards upon any securities exchange or under any state or federal securities or other law or regulation, or the consent or approval of any governmental regulatory body, is necessary or desirable as a
condition to or in connection with the granting of the Awards or the issuance or purchase of Shares thereunder, no Awards may be granted or exercised, in whole or in part, unless such listing, registration, qualification, consent or approval shall
have been effected or obtained free of any conditions not acceptable to the Committee. The holders of such Awards will supply the Company with such certificates, representations and information as the Company shall request and shall otherwise
cooperate with the Company in obtaining such listing, registration, qualification, consent or approval. 
 SECTION 12. AMENDMENT AND TERMINATION. 

 The Board may at any time amend, suspend or terminate the Plan. The Committee may at any time alter or amend any or all Award Agreements
under the Plan to the extent permitted by law. However, no such action by the Board or by the Committee shall impair the rights of Participants under outstanding Awards without the consent of the Participants affected thereby. Further, the Board
shall not amend the Plan without the approval of the Company’s shareholders to the extent such approval is required by law, agreement or the rules of any exchange upon which the Stock shall be listed. Except as provided in Section 8 of the
Plan, the purchase price of any outstanding Stock Option, Stock Appreciation Right or other purchase right may not be reduced, whether through amendment, cancellation or replacement in exchange with another Stock Option, Stock Appreciation Right,
other Award or cash payment, unless such action or reduction is approved by the shareholders of the Company. 
 SECTION 13. UNFUNDED PLAN. 

The Plan shall be unfunded. Neither the Company nor the Board shall be required to segregate any assets that may at any time be represented by Awards
made pursuant to the Plan. Neither the Company, the Committee, nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. 
 SECTION 14. LIMITS OF LIABILITY. 
  

	 	(a)	Any liability of the Company to any Participant with respect to an Award shall be based solely upon contractual obligations created by the Plan and the Award Agreement.

  

 - 13 - 

	 	(b)	Neither the Company nor any member of the Board or of the Committee, nor any other person participating in any determination of any question under the Plan, or in the
interpretation, administration or application of the Plan, shall have any liability to any party for any action taken or not taken, in good faith under the Plan. 

 SECTION 15. EFFECTIVE DATE AND DURATION OF THE PLAN. 
 The Plan shall become effective (the
“Effective Date”) upon the approval of a majority of the votes cast at a duly held meeting of shareholders at which a quorum representing a majority of the outstanding voting stock of the Corporation is, either in person or by proxy,
present and voting, within twelve (12) months after the date the Plan is initially adopted by the Board, contingent upon shareholder approval thereof. Subject to obtaining such approval, the Committee shall have authority to grant Awards
hereunder from the Effective Date until the tenth (10th) anniversary of the Effective Date, subject to the ability of the Board to terminate the Plan as provided in Section 12 hereof. Absent additional shareholder approval, no Performance
Award may be granted under the Plan subsequent to the time required for re-approval under the regulations issued pursuant to Code Section 162(m). 
 SECTION 16. FOREIGN PLAN REQUIREMENTS. 
 To the extent the Committee deems it necessary, appropriate or desirable to comply
with foreign law or practices and to further the purpose of the Plan, the Committee may, without amending this Plan, establish special rules and/or sub-plans applicable to awards granted to Participants who are foreign nationals, are employed
outside the United States, or both, and may grant awards to such Participants in accordance with those rules. In the event that the payment amount is calculated in a foreign currency, the payment amount will be converted to U.S. dollars using the
prevailing exchange rate published in The Wall Street Journal (or in such other reliable publication as the Committee, in its discretion, may determine to rely on) on the relevant date. 
 SECTION 17. DEFINITIONS. 
 For purposes of the Plan,
the following terms, as used herein, shall have the respective meanings specified: 
  

	 	(a)	Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act. 

  

	 	(b)	“Award” or “Awards” means an award granted pursuant to Section 4 hereof. 

  

	 	(c)	“Award Agreement” means an agreement described in Section 5 hereof entered into between the Company and a Participant, setting forth the terms, conditions and any
limitations applicable to the Award granted to the Participant. 

  

	 	(d)	“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act. 

  

 - 14 - 

	 	(e)	“Beneficiary” means a person or persons designated by a Participant (if the terms of the relevant Award Agreement permit such a designation) to receive, in the event of
death, any unpaid portion of an Award held by the Participant. Any Participant so permitted by an Award Agreement may, subject to such limitations as may be prescribed by the Committee, designate one or more persons primarily or contingently as
beneficiaries in writing upon forms supplied by and delivered to the Company, and may revoke such designations in writing. If a Participant having a right to designate a beneficiary under an Award Agreement fails effectively to designate a
beneficiary, then the Award will be paid in the following order of priority: 

  

	 	(I)	Surviving spouse; 

  

	 	(II)	Surviving children in equal shares; or 

  

	 	(III)	To the estate of the Participant. 

  

	 	(f)	“Board” means the Board of Directors of the Company as it may be comprised from time to time. 

  

	 	(g)	A “Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs of this Section 17(g) shall have occurred:

  

	 	(I)	any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities
acquired directly from the Company or its Affiliates) representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner in
connection with a transaction described in clause (i) of paragraph (III) below; or 

  

	 	(II)	the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on February 28, 2008, constitute the Board and
any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company)
whose appointment or election by the Board or nomination for election by the Company’s shareholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors on
February 28, 2008 or whose appointment, election or nomination for election was previously so approved or recommended; or 

  

	 	(III)	 there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation, other than (i) a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger 

  

 - 15 - 

	 	 
or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent
thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any subsidiary of the Company, at least fifty-one percent (51%) of the combined voting power of
the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar
transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding securities;
or 

  

	 	(IV)	the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company
of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least fifty-one percent (51%) of the combined voting power of
the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. 

 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or
series of integrated transactions immediately following which the record holders of the Stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in an entity
which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 
  

	 	(h)	“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute. References to specified provisions of the Code shall also include
any successor provisions. 

  

	 	(i)	“Committee” means a committee of the Board appointed to administer the Plan (which committee may also be the Compensation Committee of the Board). The Committee shall be
composed of two or more directors as appointed from time to time to serve by the Board; provided however, that any member of the Committee participating in the taking of any action under the Plan shall qualify as (1) an “outside
director” as then defined under Section 162(m) of the Code or any successor provision and (2) a “non-employee director” as then defined under Rule 16b-3 or any successor rule 

  

	 	(j)	“Company” means Mine Safety Appliances Company, a Pennsylvania corporation, or any successor corporation (except that Company shall not mean any successor corporation
thereto in determining under Section 17(g) hereof whether or not any Change in Control of the Company has occurred). 

  

 - 16 - 

	 	(k)	“Disability” shall mean the inability, in the opinion of the Committee, of a Participant, because of an injury or sickness, to work at a reasonable occupation which is
available with the Company or at any gainful occupation to which the Participant is or may become fitted, except that in the case of Incentive Stock Options, Disability shall mean permanent and total disability as defined in Section 422(e)(3)
of the Code and, in the case of any deferred compensation, Disability shall be as defined in Section 409A of the Code. 

  

	 	(l)	“Employee” means any individual who is an employee of the Company or any Participating Subsidiary. 

  

	 	(m)	“Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time, or any successor statute. 

  

	 	(n)	“Fair Market Value” of a Share, unless otherwise provided in the applicable Award Agreement, means: 

  

	 	(I)	If the Stock is admitted to trading on one or more national securities exchanges, such as the New York Stock Exchange or the NASDAQ Stock Exchange, 

  

	 	(A)	the closing price per Share as reported on the reporting system selected by the Committee on the relevant date; or 

  

	 	(B)	in the absence of reported sales on that date, the closing price per Share on the next day for which there is a reported sale; or 

  

	 	(II)	If the Stock is not admitted to trading on any national securities exchange, but is admitted to quotation on NASDAQ as an “over the counter” traded security, the average
of the highest bid and lowest asked prices per Share on the relevant date; or 

  

	 	(III)	If the preceding clauses (I) and (II) do not apply, the Fair Market Value determined by the Committee, using such criteria as it shall determine, in good faith and in its sole
discretion, to be appropriate for such valuation. 

  

	 	(o)	“Negative Discretion” means any discretion to reduce or eliminate the compensation or other economic benefit otherwise due upon attainment of a performance goal.

  

	 	(p)	“Participant” means an Employee who has been designated by the Committee to receive an Award Pursuant to this Plan. 

  

	 	(q)	“Participating Subsidiary” means a subsidiary of the Company, of which the Company beneficially owns (whether at the date of adoption of this Plan or at a later date),
directly or indirectly, more than 50% of the aggregate voting power of all outstanding classes and series of stock. 

  

 - 17 - 

	 	(r)	“Performance Award” means an Award which is granted pursuant to Section 4.4 hereof and is contingent upon the performance of all or a portion of the Company and/or
its subsidiaries and/or which is contingent upon the individual performance of the Participant to whom it is granted. 

  

	 	(s)	“Performance Criteria” means one or more preestablished, objective measures of performance during a Performance Period by the Company, a subsidiary or subsidiaries, any
department or other portion thereof or the Participant individually, selected by the Committee in its discretion to determine whether a Performance Award has been earned in whole or in part. Performance Criteria may be based on earnings per share,
return on equity, assets or investment, sales, gross profits, expenses, stock price, costs, net income, operating margin, revenue from operations, income from operations as a percent of capital employed, income from operations, cash flow, market
share, earnings (including EBITDA and EBIT), operating cash flow, operating cash flow as a percent of capital employed, economic value added, gross margin, workforce diversity, number of accounts, workers’ compensation claims, budgeted amounts,
turnover rate, inventory, inventory turns and/or obsolete inventory. Performance Criteria based on such performance measures may be based either on the level of performance of the Company, subsidiary or portion thereof under such measure for the
Performance Period and/or upon a comparison of such performance with the performance under such measure during a prior period or with the performance of a peer group of corporations selected or defined by the Committee at the time of making a
Performance Award. The Committee may in its discretion also determine to use other objective performance measures as Performance Criteria. 

  

	 	(t)	“Performance Period” means an accounting period of the Company or a subsidiary of not less than one year, as determined by the Committee in its discretion.

  

	 	(u)	 “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that
such term shall not include (i) the Company or any of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily
holding securities pursuant to an offering of such securities, (iv) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of Stock of the Company or (v) any
individual or entity (including the trustees (in such capacity) of any such entity which is a trust) which is directly or indirectly, the Beneficial Owner of securities of the Company representing five percent (5%) or more of the combined
voting power of the Company’s then outstanding securities immediately before the Effective Date or any Affiliate of any such individual or entity, including, for purposes of this Section 17(t), any of the following: (A) any trust
(including the trustees thereof in such capacity) 

  

 - 18 - 

	 	 
established by or for the benefit of any such individual; (B) any charitable foundation (whether a trust or a corporation, including the trustees or
directors thereof in such capacity) established by any such individual; (C) any spouse of any such individual; (D) the ancestors (and spouses) and lineal descendants (and spouses) of such individual and such spouse; (E) the brothers
and sisters (whether by the whole or half blood or by adoption) of either such individual or such spouse; or (F) the lineal descendants (and their spouses) of such brothers and sisters. 

  

	 	(v)	“Restricted Stock” means Shares which have certain restrictions attached to the ownership thereof, which may be issued under Section 4.3. 

  

	 	(w)	“Retirement” means a Participant’s termination of employment occurring (a) on or after attainment of age 55 and the Participant is credited with at least fifteen
years of employment with the Company and its affiliates; (b) on or after attainment of age 60 and the Participant is credited with at least ten years of employment with the Company and its affiliates; or (c) on or after attainment of age
65 and the Participant is credited with at least five years of employment with the Company and its affiliates. 

  

	 	(x)	“Share” means a share of Stock. 

  

	 	(y)	“Stock” means the Common Stock, without par value, of the Company, or, in the event that the outstanding Common Stock is hereafter changed into, or exchanged for,
different stock or securities, such other stock or securities. 

  

	 	(z)	“Stock Appreciation Right” means a right, the value of which is determined relative to the appreciation in value of Shares, which may be issued under Section 4.2.

  

	 	(aa)	“Stock Option” means a right to purchase Shares granted pursuant to Section 4.1 and includes Incentive Stock Options and Non-Qualified Stock Options as defined in
Section 4.1. 

  

 - 19 -Touchmark Bancshares, Inc. 2008 Stock Incentive Plan

 Exhibit 10.1 
 TOUCHMARK BANCSHARES, INC. 
 2008 STOCK INCENTIVE PLAN 
 ARTICLE 1 
 GENERAL 

1.1 Purpose. The Touchmark Bancshares, Inc. 2008 Stock Incentive Plan (the “Plan”) has been established by Touchmark Bancshares, Inc., a Georgia
corporation (the “Company”), to (a) attract and retain high caliber employees and directors; (b) motivate Participants, by means of appropriate incentives, to achieve long-range goals; (c) provide incentive compensation
opportunities that are competitive with those of other similar companies; and (d) further align Participants’ interests with those of the Company’s other shareholders through compensation that is based on the Company’s common
stock; and thereby promote the long-term financial interest of the Company and its affiliates, including the growth in value of the Company’s equity and enhancement of long-term shareholder return. 
 1.2 Participation. Subject to the terms and conditions of the Plan, the Committee shall determine and designate, from time to time, from among the Eligible
Persons, those persons who will be granted one or more Awards under the Plan, and thereby become Participants in the Plan. In the discretion of the Committee, a Participant may be granted any Award permitted under the provisions of the Plan, and
more than one Award may be granted to a Participant. Awards may be granted as alternatives to or replacement of Awards outstanding under the Plan or any other plan or arrangement of the Company or a Related Company (including a plan or arrangement
of a business or entity, all or a portion of which is acquired by the Company or a Related Company). 
 1.3 Definitions. For purposes of the Plan, the
terms listed below shall be defined as follows: 
  

	 	(a)	Award shall mean any award or benefit granted to any Participant under the Plan, including the grant of Options and Restricted Stock Awards. 

  

	 	(b)	Award Agreement shall mean an agreement entered into by the Company and the applicable Participant, setting forth the terms and provisions applicable to the Award.

  

	 	(c)	Board shall mean the Board of Directors of the Company. 

  

	 	(d)	Change in Control shall mean the happening of any of the following: 

 (i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 50% or more of either (a) the then-outstanding shares of Stock of the Company (the “Outstanding Company Stock”) or (b) the combined voting power of the then-outstanding voting securities of
the Company entitled to vote generally in the 

 
election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following
acquisitions shall not constitute a Change of Control: (x) any acquisition by the Company, (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the
Company, or, (z) any acquisition by any corporation pursuant to a transaction which complies with clauses (a), (b) and (c) of subsection (iii) of this Section 1.3(d); or 
 (ii) The individuals who, as of the date this Plan is approved by the Board, are members of the Board (the “Incumbent Board”), cease for any
reason to constitute at least a majority of the Board; provided, however, that, if the election, or nomination for election by the Company’s stockholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board,
such new director shall, for purposes of this Plan, be considered and defined as a member of the Incumbent Board; and provided further, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed
office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other
than the Board (a “Proxy Contest”), including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or 
 (iii) Consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets of another corporation
(a “Business Combination”), in each case, unless, following such Business Combination, (a) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Stock and
Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 25% of, respectively, the then-outstanding shares of common stock and the combined voting power of the
then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such
transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the
Outstanding Company Stock and Outstanding Company Voting Securities, as the case may be, (b) no Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 25% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities
of such 

  

 1 

 
corporation except to the extent that such ownership existed prior to the Business Combination, and (c) at least a majority of the members of the board
of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

 (iv) Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 
  

	 	(e)	Code means the Internal Revenue Code of 1986. 

  

	 	(f)	Committee shall mean the committee of the Board described in Section 2.1. 

  

	 	(g)	Disability shall mean total and permanent disability as provided in the long-term disability plan or policy maintained or, if applicable, most recently maintained, by the
Company or its affiliates for the Participant. If no long-term disability plan or policy was ever maintained on behalf of the Participant or, if the determination of Disability relates to an Incentive Stock Option, Disability shall mean the
condition described in Code Section 22(e)(3). In the event of a dispute, the determination of Disability shall be made by the Board and shall be supported by advice of a physician competent in the area to which such Disability relates.

  

	 	(h)	Effective Date shall have the meaning set forth in Section 5.1. 

  

	 	(i)	Eligible Person shall mean any employee or director of the Company or its affiliates. 

  

	 	(j)	Exchange Act shall mean the Securities Exchange Act of 1934. 

  

	 	(k)	Exercise Price shall mean the exercise price per share of Stock as determined under Article 3. 

  

	 	(l)	Fair Market Value shall mean: 

 (i) If the Stock is
actively traded on any national securities exchange, the closing price at which sales of Stock shall have been sold on the most recent trading date immediately prior to the date of determination, as reported by any such exchange selected by the
Committee on which the shares of Stock are then traded; or 
 (ii) If the shares of Stock are not actively traded on any such exchange, the
average of the closing high bid and low asked prices for the shares of Stock on the over-the-counter market on the most recent trading date within a reasonable period prior to the determination date as determined by the Committee and reported by
such system; or 
  

 2 

 (iii) If there are no bid and asked prices within a reasonable period or if the shares of Stock are not
traded on the over-the-counter market, the fair market value of a share of Stock as determined in good faith by the Committee taking into account such relevant facts and circumstances deemed by the Committee to be material to the value of the Stock
in the hands of the Participant, which may include opinions or reports prepared by independent experts; provided that, for purposes of granting Awards other than Incentive Stock Options, Fair Market Value of a share of Stock may be determined by the
Committee by reference to the average market value determined over a period certain or as of specified dates, to a tender offer price for the shares of Stock (if settlement of an award is triggered by such an event) or to any other reasonable
measure of fair market value. 
 Notwithstanding the above, Fair Market Value of a share of Stock shall be determined in accordance with all
applicable laws, including in the case of Incentive Stock Options the valuation principles described in Code Section 422 and in all cases in accordance with Code Section 409A. 
  

	 	(m)	Incentive Stock Option or ISO shall have the meaning set forth in Section 3.1. 

  

	 	(n)	Non-Qualified Stock Option shall have the meaning set forth in Section 3.1. 

  

	 	(o)	Option shall have the meaning set forth in Section 3.1. 

  

	 	(p)	Participant shall mean an Eligible Person who has been selected by the Committee, in accordance with the powers granted to it under Section 2.2, to participate in the
Plan and has an Award currently outstanding under the Plan. 

  

	 	(q)	Period(s) of Restriction shall mean the period(s) during which the transfer of shares of Stock subject to a Restricted Stock Award is limited in some way (based on the
passage of time, the achievement of performance goals, or upon the occurrence of other events as determined by the Committee, at its discretion) or the shares are subject to a substantial risk of forfeiture, pursuant to the terms of the Plan or the
applicable Award Agreement. 

  

	 	(r)	Related Company shall mean any company during any period in which it is a “parent corporation” (as that term is defined in Code Section 424(e)) with respect to
the Company or a “subsidiary corporation” (as that term is defined in Code Section 424(f)) with respect to the Company. 

  

	 	(s)	Restricted Stock Award shall mean an award of shares of Stock which are subject to one or more Periods of Restriction as described in Article 4. 

  

	 	(t)	Stock shall mean shares of $0.01 par value voting common stock of the Company. 

  

 3 

	 	(u)	Ten Percent Shareholder shall mean a person who owns (after taking into account the attribution rules of Code Section 424(d)) more than (10%) of the total combined
voting power of all classes of stock of the Company or a Related Company. 

  

	 	(v)	Termination of Service shall mean the termination of the Participant’s service relationship, whether employment or otherwise, with the Company and its affiliates,
regardless of the fact that severance or similar payments are made to the Participant for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability or retirement. The Committee shall, in its
absolute discretion, but in compliance with applicable law, determine all matters and questions relating to Termination of Service, including, but not by way of limitation, the question of whether a leave of absence constitutes a Termination of
Service. 

 ARTICLE 2 
 COMMITTEE 
 2.1 Administration. The authority to control and manage the operation and administration of the Plan shall be vested in a
Committee selected by the Board, which Committee shall consist of three or more members of the Board. In selecting the Committee, the Board shall consider (i) the benefits under Rule 16b-3 of the Exchange Act of having a Committee composed of
either the entire Board or a Committee of three or more “non-employee directors” as that term is defined in Rule 16b-3 as then in effect under the Exchange Act, and (ii) the benefits under Section 162(m) of the Code of having a
Committee composed of three or more “outside directors” (as that term is defined in the Code) for certain grants of Awards to highly compensated executives. Each member of the Committee shall serve at the discretion of the Board and the
Board may from time to time remove members or add members to the Committee. Vacancies on the Committee shall be filled by the Board. If the Board chooses not to or fails to select the Committee as provided above, the Board shall serve as the
Committee. The Committee shall select one of its members as Chairman and shall hold meetings at the times and in the places as it may deem advisable. Acts approved by a majority of the Committee in a meeting at which a quorum is present, or acts
reduced to or approved in writing by a majority of the members of the Committee, shall be the valid acts of the Committee; provided, however, that with respect to any action by the Committee in granting an Award to any Participant under the Plan,
such action must be approved by the majority vote of the members of the Board in a meeting where quorum is present. 
 2.2 Powers of Committee. Except
as limited by applicable law or by the Articles of Incorporation or Bylaws of the Company, and subject to the provisions of the Plan, the Committee shall have full power to select persons who shall participate in the Plan; determine the sizes and
types of Awards; determine the terms and conditions of Awards in a manner consistent with the Plan; construe and interpret the Plan and any Award Agreement or other instrument entered into under the Plan; establish, amend, or waive rules and
regulations for the Plan’s administration; and (subject to the provisions of Article 6 and Code Section 409A) amend the terms and conditions of any outstanding Award. Further, the Committee shall make all other determinations and
interpretations which 

  

 4 

 
may be necessary or advisable for the administration of the Plan. The Committee’s determinations under the Plan need not be uniform and may be made by
it selectively among Eligible Persons and Participants (whether or not such persons are similarly situated). As permitted by law, the Committee may delegate, from time to time, its authority with respect to the Plan, administration of the Plan and
the making of Awards, to one or more persons, including the authority described above. 
 2.3 Action. If a member of the Committee is a Participant,
he or she shall not participate in any decision which solely affects his or her own Awards under the Plan. All determinations and decisions made by the Committee pursuant to the provisions of the Plan and all related orders and regulations of the
Board shall be final, conclusive and binding on all persons, including the Company, Related Companies, and their affiliates and shareholders, and Eligible Persons, Participants, and their estates and beneficiaries. 
 2.4 Compensation, Indemnity and Liability. The Committee shall serve as such without bond and without compensation for services hereunder. All expenses of the
Plan and the Committee shall be paid by the Company. No member of the Committee shall be liable for any act or omission of any other member of the Committee, nor for any act or omission on his or her own part, except his or her own gross negligence
or willful misconduct. The Company shall indemnify and hold harmless the Committee and each member of the Committee, if any, against any and all expenses and liabilities, including reasonable legal fees and expenses, arising out of his or her
membership on the Committee, excepting only expenses and liabilities arising out of his or her own gross negligence or willful misconduct. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which
such persons may be entitled under the Company’s Articles of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
 2.5 Information to be Furnished to Committee. The Company and its affiliates shall furnish the Committee with such data and information as may be required for it
to discharge its duties hereunder. The records of the Company and its affiliates as to an Eligible Person or Participant’s employment or performance of services, Termination of Service, leave of absence, reemployment and compensation shall be
conclusive on all persons unless determined by the Committee to be manifestly incorrect. Participants and other persons entitled to benefits under the Plan must, as a condition to the receipt or settlement of any Award, furnish the Committee such
evidence, data or information as the Committee determines is necessary to carry out the terms of the Plan. 
 ARTICLE 3 
 STOCK OPTIONS 
 3.1 Options. The grant of an
option (an “Option”) entitles the Participant to purchase the number of shares of Stock designated in the applicable Award Agreement at an Exercise Price established by the Committee. At the time the Option is granted, the Committee shall
determine whether the Option is to be an Incentive Stock Option or a Non-Qualified Stock Option, and clearly identify this status in the applicable Award Agreement. An “Incentive Stock Option” or “ISO” is an Option that is
intended to qualify as, and that satisfies the requirements applicable to, an “incentive stock option” described in Code Section 422(b). A “Non-Qualified Stock Option” or “NSO” is an Option that is not intended to
be, or does not qualify as, an “incentive stock option” as that term is described in Code Section 422(b). 
  

 5 

 3.2 Special Requirements for ISOs. Incentive Stock Options may only be granted to an Eligible Person who is an
employee of the Company or a Related Company. To the extent that the aggregate Fair Market Value (determined at time of grant) of the shares of Stock subject to ISOs granted to a Participant under the Plan and under any other stock option plan
adopted by the Company or a Related Company that first become exercisable in any calendar year exceeds $100,000, such options in excess of $100,000 shall be treated as Non-Qualified Stock Options, regardless of any contrary provision in the Plan or
Award Agreement. 
 3.3 Exercise Price. Subject to adjustment as provided in the Plan, the “Exercise Price” of each Option shall be
established by the Committee or shall be determined by a method established by the Committee at the time the Option is granted, and shall be set forth in the applicable Award Agreement. Notwithstanding any provision to the contrary in this Plan or
any Award Agreement, the Exercise Price shall never be less than 100% (or, in the case of an ISO granted to a Ten Percent Shareholder, 110%) of the Fair Market Value of a share of Stock as of the date on which the Option is granted. 
 3.4 Vesting and Exercise. 
  

	 	(a)	An Option shall vest and become exercisable in accordance with such terms and conditions and during such periods as specified in the applicable Award Agreement, but the Award
Agreement with respect to each Option shall provide that such Option shall not be exercisable after ten years from the date of grant of the Option; provided, however, that if no contrary terms are set forth in the Award Agreement, one-third of the
Option shall vest on each of the first, second and third anniversaries of the date such Option is granted, and the Option shall vest in full immediately upon a Termination of Service in connection with a Change in Control or due to the death or
Disability of the Participant. Any vesting provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options granted under the Plan, and may reflect distinctions based on the reasons for the Termination of
Service. 

  

	 	(b)	 Upon a Participant’s Termination of Service, the portion of the Option which has not vested and become exercisable as of such termination date shall be
forfeited and the shares returned to the Company and the vested portion of the Option shall remain exercisable for three months following a Termination of Service due to reasons other than death or Disability or for one year following a Termination
of Service due to death or Disability; provided, however, in the event of a Termination of Service due to the Participant’s retirement from active employment with the Company (or a Related Company) under the Company’s retirement plan or
policy, the vested portion of the Option at the date of the Participant’s retirement shall remain exercisable during the periods specified in the applicable Award Agreement subject to compliance with Code Section 409A. For purposes of this
Section, a Termination of Service shall not be deemed to have occurred if the 

  

 6 

	 	 
Participant is employed by another corporation (or a parent or subsidiary corporation of such other corporation) which has assumed the Incentive Stock Option
in a transaction to which Code Section 424(a) is applicable. 

  

	 	(c)	To the extent permitted by applicable law, including, but not limited to Code Section 409A, the Committee may accelerate the vesting and/or exercise provisions with respect to
any Option at any time in whole or in part based on performance and/or such other factors as the Committee may determine in its sole discretion; provided, however, that the Committee may not accelerate the vesting of any Option prior to the third
anniversary of the operations of Touchmark National Bank (the “Bank”), the Company’s wholly owned subsidiary. 

  

	 	(d)	Notwithstanding any contrary provision in the Plan or the applicable Award Agreement, in no event shall the exercise period of an ISO extend beyond the deadlines set forth in
Subsection 3.4(b) above or expire more than ten (10) (or, in the case of a Ten Percent Shareholder, five (5)) years after the date such ISO is granted. 

  

	 	(e)	Notwithstanding any other provision of this Plan or any Award Agreement to the contrary, if the Office of the Comptroller of the Currency or the Federal Deposit Insurance
Corporation determines that (i) the capital of the Bank has fallen below the minimum requirements contained in 12 CFR 3 or below a higher requirement; or (ii) the existence of outstanding Options impairs the Company’s ability to raise
capital, such agency may direct the Company to require each Participant to exercise or forfeit all or some of the Option. All Options granted under this Plan are subject to the terms of any such directive. 

 3.5 Payment of Option Exercise Price. The full Exercise Price for shares of Stock purchased upon the exercise of any Option shall be paid at the time of such
exercise (except that, in the case of an exercise arrangement approved by the Committee and described in the applicable Award Agreement, payment may be made as soon as practicable after the exercise). The payment of the Exercise Price shall be made
in cash or in any other form or manner authorized by the Committee from time to time. 
 3.6 Settlement of Award. Shares of Stock shall be distributed
to the Participant at the time that the Option becomes exercisable and full payment of the Exercise Price has been received by the Company in the manner provided in Section 3.5. Any shares distributed under the Plan shall be subject to such
conditions, restrictions and contingencies as the Committee may establish in accordance with applicable law. At the time any Incentive Stock Option is exercised, the Committee shall be entitled to place a legend on the certificates representing the
shares of Stock purchased pursuant to the Option to clearly identify them as shares of Stock purchased upon exercise of an Incentive Stock Option. 
  

 7 

 ARTICLE 4 
 RESTRICTED STOCK AWARDS 
 4.1 Restricted Stock Awards. A Restricted Stock Award is a grant of shares of Stock
or of a right to receive shares of Stock (or their cash equivalent or a combination of both) in the future, subject to certain conditions, restrictions and contingencies as described in Section 4.2. 
 4.2 Parameters for Restricted Stock Awards. Each Restricted Stock Award shall be subject to such conditions, restrictions and contingencies, including continuous
service and/or the achievement of performance measures, as the Committee shall determine and specify in the applicable Award Agreement. The performance measures that may be used by the Committee for such Restricted Stock Awards shall be measured by
such criteria as the Committee may establish, consistent with any applicable requirements of Code Section 162(m). The Committee may designate a single goal criterion or multiple goal criteria for performance measurement purposes, with the
measurement based on absolute Company (or Related Company) or business unit performance and/or on performance as compared with that of other companies. The language regarding performance measures is intended to permit the Company to bring these
Restricted Stock Awards within the requirements of the general rule for the performance-based compensation exception to the $1 million limit on deductible compensation under Code Section 162(m), and shall be interpreted consistent with such
intent. If no contrary terms are set forth in the Award Agreement, Period(s) of Restriction shall lapse with respect to one-third of a Restricted Stock Award on each of the first, second and third anniversaries of the date such Restricted Stock
Award is granted, and restrictions shall lapse on the entire Restricted Stock Award immediately upon Termination of Service due to the death or Disability of the Participant. 
 4.3 Custody of Certificates. The Company shall have the right to retain in the Company’s possession the certificates representing shares of Stock subject to a Restricted Stock Award until such time as all
conditions and/or restrictions applicable to such Restricted Stock Award have been satisfied, provided that no such retention shall result in deferred compensation as defined by Code Section 409A. 
 4.4 Voting Rights. Except as otherwise provided by the Committee in an Award Agreement, during any Period of Restriction, Participants holding shares of Stock
subject to a Restricted Stock Award may exercise full voting rights with respect to those shares, whether or not such shares are in the custody of the Company. 
 4.5 Dividends and Other Distributions. During any Period of Restriction, Participants holding shares of Stock subject to a Restricted Stock Award may be credited with regular cash dividends paid with respect to the underlying shares
while they are so held, whether or not such shares are in the custody of the Company. The Committee may apply any restrictions to the dividends that the Committee deems appropriate provided that any such restriction does not result in “deferred
compensation” as defined by Code Section 409A. In the event that any dividend constitutes a “derivative security” or an “equity security” pursuant to Rule 16(a) under the Exchange Act, such dividend shall be subject to
a period of restriction equal to the remaining Period of Restriction of the shares of Stock subject to the Restricted Stock Award with respect to which the dividend is paid. 
  

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 4.6 Termination of Service. Each Award Agreement may set forth the extent to which the Participant shall have the
right, if any, to receive shares of Stock on which the Period of Restriction has not yet ended following the Participant’s Termination of Service. Such provision shall be determined in the sole discretion of the Committee, need not be uniform
among all shares of Stock issued pursuant to the Restricted Stock Award, and may reflect distinctions based on the reasons for the Termination of Service. If no contrary provisions are specified in the applicable Award Agreement, upon a
Participant’s Termination of Service for reasons other than death or Disability, all shares of Stock on which the Period of Restriction has not yet ended shall be forfeited and the shares returned to the Company. 
 ARTICLE 5 
 OPERATION AND
ADMINISTRATION 
 5.1 Effective Date. The Plan shall be effective as of March 19, 2008 (the “Effective Date”); provided, however,
that if the shareholders of the Company have not approved the Plan on or prior to the first anniversary of such effective date, then no Option issued under the Plan shall constitute an ISO and no Option may be exercised prior to such shareholder
approval if such Option is intended to be an ISO. The Plan shall be unlimited in duration and, in the event of Plan termination, shall remain in effect as long as any Awards under it are outstanding; provided, however, that, to the extent required
by the Code, no Incentive Stock Options may be granted under the Plan on a date that is more than ten (10) years from the date the Plan is adopted or, if earlier, the date the Plan is approved by shareholders. 
 5.2 Shares Subject to Plan. The maximum number of shares of Stock issuable under the Plan shall be as set forth below: 
  

	 	(a)	Subject to adjustment as set forth in this Section 5.2, the maximum number of shares of Stock available for issuance under the Plan as of the Effective Date shall be 191,000
shares of Stock. Any or all shares of Stock subject to the Plan may be issued in any combination of Incentive Stock Options, Non-Qualified Stock Options and Restricted Stock Awards. The Stock issuable under the Plan shall be shares of authorized but
unissued or reacquired Stock, including shares repurchased by the Company as treasury shares. Any fractional shares of Stock shall be forfeited and shall not be issued under the Plan. 

  

	 	(b)	 Any shares of Stock granted under the Plan that are forfeited because of the failure to meet an Award contingency or condition shall again be available for delivery
pursuant to new Awards granted under the Plan. To the extent any shares of Stock covered by an Award are not delivered to a Participant or beneficiary because the Award is forfeited or canceled, or the shares of Stock are not delivered because the
Award is settled in cash, such shares shall not be deemed to have been delivered for purposes of determining the maximum number of shares of Stock available for delivery under the Plan. If the Exercise Price of or tax withholding on any Option
granted under the Plan is satisfied by tendering shares of Stock 

  

 9 

	 	 
to the Company (by either actual delivery or by attestation), only the number of shares of Stock issued net of the shares of Stock tendered shall be deemed
delivered for purposes of determining the maximum number of shares of Stock available for delivery under the Plan. 

  

	 	(c)	The number of shares of Stock reserved for issuance under the Plan and the number of shares of Stock reserved for issuance upon the exercise or payment, as applicable, of each
outstanding Award, and the Exercise Price of each outstanding Option shall be proportionately adjusted for any increase or decrease in the number of issued shares of Stock resulting from any stock dividend, stock split, extraordinary cash dividend,
or any other increase or decrease in the number of shares of Stock outstanding effected without receipt of consideration by the Company. The conversion of any convertible securities of the Company shall not be treated as a transaction “without
receipt of consideration by the Company.” 

  

	 	(d)	In the event of any merger, consolidation, extraordinary dividend (including a spin-off), reorganization or other change in the corporate structure of the Company or its Stock or
tender offer for shares of Stock, the Committee, in its sole discretion, and subject to compliance with Code Section 409A, shall make such adjustments with respect to Awards and take such other action as it deems necessary, appropriate or
equitable to reflect, or in anticipation of, such merger, consolidation, extraordinary dividend (including a spin-off), reorganization, other change in corporate structure or tender offer, including, without limitation, the substitution of new
Awards or the substitution of the securities of any other person for the securities of the Company, the termination or adjustment of outstanding Awards, the acceleration of Awards or the removal of restrictions on outstanding Awards, all as may be
provided in the applicable Award Agreement or, if not expressly addressed therein, as the Committee subsequently may determine in the event of any such merger, consolidation, extraordinary dividend (including a spin-off), reorganization or other
change in the corporate structure of the Company or its Stock or tender offer for shares of Stock. 

  

	 	(e)	 The Committee may, at any time or from time to time, authorize the Company, with the consent of the respective affected Participants, to issue new Awards in
exchange for the surrender and cancellation of any or all outstanding Awards. The Committee may at any time (including in anticipation of an event described in Subsection 5.2(d) whereby Awards are to be substituted, assumed, or replaced by a
successor company), upon twenty (20) days prior written notice, buy from a Participant an Award previously granted with payment in cash, Stock (including shares of Stock subject to a Restricted Stock Award) or other consideration, based on such
terms and conditions as the Committee and the Participant shall agree; provided, however, notwithstanding the foregoing, the Committee shall have the right and authority without Participant approval to buy from the Participant all unexercised Awards
for the total Fair Market Value of such Awards (which in the 

  

 10 

	 	 
case of an Option, shall be determined by multiplying the number of then-vested and exercisable shares under the Option times the positive difference between
the Fair Market Value of a share and the Exercise Price provided in the applicable Award Agreement and, in the case of a Restricted Stock Award, shall be the Fair Market Value of Stock that has fully vested under the terms of the applicable
Restricted Stock Award, subject to any right of repurchase otherwise possessed by the Company). In no event may the Committee take any of the actions described in this Subsection 5.2(e), unless such action complies with applicable law, including,
but not limited to, Code Section 409A. 

  

	 	(f)	Subject to the overall limitation on the number of shares of Stock that may be delivered under the Plan, the Committee may use available shares of Stock as the form of payment for
compensation, grants or rights earned or due under any other compensation plans or arrangements of the Company or its affiliates, including the plans and arrangements of the Company or its affiliates acquiring another entity (or an interest in
another entity), and any such use shall reduce on a share-for-share basis the number of shares available for issuance under the Plan. 

 5.3
Limitations on Awards. Notwithstanding any provision in the Plan to the contrary (but subject to adjustment as provided in Section 5.2), the maximum aggregate number of Shares subject to Awards granted under the Plan in any 12-month
period to any one Participant shall be 50,000, unless a greater amount is approved in advance by the Committee and the Board. 
 5.4 Tax Withholding.
The Company and/or its affiliates shall have the power and the right to deduct or withhold from amounts or property due hereunder or any other monies or property of the Participant held or payable by the Company or such affiliate, or require a
Participant (or his or her estate or beneficiary) to remit to the Company or such affiliate, an amount sufficient to satisfy federal, state, local, and any other applicable taxes (including any foreign taxes and the Participant’s FICA
obligation) required by law to be withheld with respect to any taxable event arising as a result of this Plan. With respect to withholding required upon the lapse of restrictions on a Restricted Stock Award, or upon any other taxable event arising
as a result of a Restricted Stock Award, a Participant may elect, subject to the approval of the Committee, to satisfy all or part of such withholding requirement by tendering to the Company shares of Stock owned by such Participant for at least six
months (or by having the Company retain shares of Stock then in the possession of the Company but held for the benefit of such Participant); provided that such shares are not then subject to any Period of Restriction. Such withholding requirement
shall be deemed satisfied to the extent of the then-current Fair Market Value of the shares so tendered to or retained by the Company. All such elections shall be irrevocable, made in writing, signed by the Participant and shall be subject to any
restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 
 5.5 Payments and Payment Shares. Awards may be settled
through cash payments, the delivery of shares of Stock, the granting of replacement Awards or any such combination thereof as the Committee shall determine. Any Award settlement may be subject to such conditions, restrictions and contingencies as
the Committee shall determine. 
  

 11 

 5.6 Legends. Each Award Agreement and each certificate representing Stock or other securities granted pursuant to
the Plan (including securities issuable pursuant to the terms of derivative securities) may bear a restrictive legend as the Company deems necessary or advisable under applicable law, including federal and state securities laws. 
 5.7 Non-alienation of Benefits. Prior to the end of the applicable Period of Restriction and or vesting and exercise of an Award, the Award shall not be
transferable or assignable except by will or by the applicable laws of descent and distribution and shall be exercisable, during the Participant’s lifetime, only by the Participant (or, in the event of the Disability of the Participant, by the
legal representative of the Participant). Any attempt to transfer or assign an Award in contravention of this Section shall be void. No Award shall, prior to receipt by the Participant and release of all restrictions or conditions thereon, be in any
manner liable for or subject to the debts, contracts, liabilities, engagements or torts of the Participant. 
 5.8 Beneficiary Designation. Each
Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under the Plan is to be paid in case of his or her death before he or she receives any or all of such
benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in writing with the Company during the
Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate. 
 5.9 Agreement With Company. At the time of an Award to a Participant, the Committee shall require the Participant to enter into an agreement with the Company (the “Award Agreement”) in a form
specified by the Committee, agreeing to the terms and conditions of the Plan, the Award and to such additional terms and conditions, not inconsistent with the Plan, as the Committee may, in its sole discretion, prescribe. 
 5.10 Limitation of Implied Rights. A Participant shall have only a contractual right to the fully vested and/or unrestricted, as the case may be, shares of Stock,
if any, or amounts, if any, issuable or payable to such Participant under the Plan, unsecured by any assets of the Company or its affiliates. Nothing contained in the Plan shall constitute a guarantee that the assets of such companies shall be
sufficient to pay any benefits to any person. Nothing in the Plan shall interfere with or limit in any way the right of the Company or any of its affiliates to terminate a Participant’s service at any time, nor confer upon a Participant any
right to continue in the service of the Company or any of its affiliates. For purposes of the Plan, a transfer of a Participant’s employment or service relationship between the Company and its affiliates, or among such affiliates, shall not be
deemed to be a Termination of Service. Upon such a transfer, the Committee may make such adjustment to outstanding Awards as it deems appropriate to reflect the changed reporting relationships. Participation in the Plan by any person shall be
determined by the Committee, and no person shall otherwise have the right to be selected to receive an Award, or, having been so selected, to be selected to receive a future Award. 
 5.11 Liquidation of the Company. In the event of the complete liquidation or dissolution of the Company, any Options which remain unexercised and any Restricted Stock Award on which restrictions have not yet
lapsed shall be deemed immediately and automatically canceled without any action on the part of the Company and without regard to or limitation by any other provision of the Plan. 
  

 12 

 5.12 Affiliate Obligations. Each affiliate of the Company shall be liable for payment of cash due under the Plan
with respect to any Participant to the extent that such benefits are attributable to the services rendered for that affiliate by the Participant. Any disputes relating to liability of an affiliate for cash payments shall be resolved by the
Committee. 
 ARTICLE 6 
 AMENDMENT AND TERMINATION 
 The Board may at any time and from time to time, alter, amend, suspend or terminate the Plan in
whole or in part; provided, however, that no amendment which requires shareholder approval in order for the Plan to continue to comply with Rule 16b-3 under the Exchange Act or any other applicable law shall be effective unless such amendment shall
be approved by the requisite vote of shareholders of the Company entitled to vote thereon. In addition, the Committee shall have the authority to cancel outstanding Awards and issue substitute Awards in replacement thereof. Notwithstanding the
above, no termination, amendment or modification of the Plan shall adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Participant holding such Award or otherwise be contrary to the
Company’s or any of its affiliates’ obligations under any employment or severance benefits agreement with the applicable Participant. 
 ARTICLE 7 
 RULES OF CONSTRUCTION AND MISCELLANEOUS 
 7.1 Rules of Construction. For all purposes of this Plan, except as otherwise expressly provided: 
  

	 	(a)	all accounting terms not otherwise defined herein shall have the meanings ascribed thereto under U.S. generally accepted accounting principles, 

  

	 	(b)	all references in this Plan to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of the
body of this Plan, with the exception of those references identifying Code Sections, 

  

	 	(c)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Plan as a whole and not to any particular Article, Section
or other subdivision, 

  

	 	(d)	whenever the words “include,” “includes” or “including” are used in this Plan, they shall be deemed to be followed by the words “without
limitation,” 

  

 13 

	 	(e)	a reference to any legislation or to any provision of any legislation shall include such legislation, as amended through the date hereof, and all subsequent amendments or
modification thereto or re-enactment thereof, any legislative provision substituted therefor and all regulations and statutory instruments issued thereunder or pursuant thereto, and 

  

	 	(f)	any masculine term also shall include the feminine; the plural shall include the singular; and the singular shall include the plural. 

 7.2 Compliance with Laws. All Incentive Stock Options to be granted under the Plan are intended to comply with Code Section 422, and all provisions of the
Plan and the applicable Award Agreement relating to an ISO shall be construed in such manner as to effectuate that intent. The Plan and all Awards granted hereunder shall comply at all times with all laws and regulations of any governmental
authority which may be applicable thereto (including Code Section 409A). Any provision of the Plan or any Award Agreement notwithstanding, the Participant shall not be entitled to receive the benefits of an Award and the Company shall not be
obligated to pay any benefits to a Participant, if such exercise, delivery, receipt or payment of benefits would constitute a violation by the Participant or the Company of any provision of any such law or regulation. Any reference herein to
“as permitted by applicable law” and “compliance with the requirements of Code Section 409A” or words of similar import shall include the mandate that the terms of the Plan or any Award, or administration of the Plan or any
Award, as the case may be, must be administered and interpreted in such a manner that no additional income tax is imposed on a Participant pursuant to Code Section 409A(1)(a); provided, however, that this provision shall not limit applications
of the $100,000 limit on ISOs set forth in Section 3.2 or any reclassification of an Option resulting therefrom. If additional guidance is issued under or modifications are made to Code Section 409A or any other law affecting the Awards
issued hereunder, notwithstanding any contrary provision in Article 6, the Committee shall take such actions (including amending the Plan or any Award Agreement) as it deems necessary, in its sole discretion, to ensure continued compliance
therewith. 
 7.3 Securities Law Compliance. With respect to an individual who is, on the relevant date, an officer, director or 10% beneficial owner
of any class of the Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, all as defined under Section 16 of the Exchange Act (an “Insider”), transactions under this Plan are intended to
comply with all applicable conditions or Rule 16b-3 under the Exchange Act. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable
by the Committee. To the extent that compensation to be received by an Insider for purposes of Code Section 162(m) as a result of the lapse of Period(s) of Restriction or other restriction on a Restricted Stock Award or vesting of any Award,
when added to all other compensation subject to the $1 million limitation on deductibility of compensation (the “Cap”) imposed by Code Section 162(m), would cause such Insider’s compensation to exceed the Cap for that year,
restrictions on the number of shares of Stock subject to a Restricted Stock Award will not lapse and vesting on Options shall not occur, and instead such restrictions on such Awards will continue, all or in part, until such time that the Committee
determines that they may lapse and the Company’s tax deduction (as limited by Code Section 162(m)) is preserved. 
  

 14 

 7.4 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the
illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 7.5 Unfunded Status of Plan. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant by the Company,
nothing set forth herein shall give any such Participant any rights that are greater than those of a general creditor of the Company. In its sole discretion, the Board or the Committee may authorize the creation of trusts or other arrangements to
meet the obligations created under the Plan to deliver Stock or a payment in lieu of or with respect to Awards hereunder, provided, however, that the existence of such trusts or other arrangements is consistent with the unfunded status of the Plan.

  

 15 

 7.6 Governing Law. To the extent not preempted by United States Federal law, the Plan, and all agreements
hereunder, shall be construed in accordance with and governed by the laws of the State of Georgia. 
 IN WITNESS WHEREOF, the Company has caused this Plan to be executed as of this 27th day of March, 2008. 

 

			
	TOUCHMARK BANCSHARES, INC.
		
	By:	 	 /s/ William R. Short

	Name:	 	William R. Short
	Title:	 	President and CEO

  

 16

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