Document:

EX-10.4

 Exhibit 10.4 

BANCPLUS CORPORATION 

CHANGE IN CONTROL AGREEMENT 

This Change in Control Agreement (“Agreement”) is dated as of the 1st day of January, 2018, as approved by the Compensation
Committee on September 29, 2017 and subsequently approved by the Board of Directors by and between BancPlus Corporation, a Mississippi corporation (including its subsidiaries, the “Company”), and Max S. Yates (the
“Employee”). 
 1.    Purpose. The Company considers it essential to the best interests of its
stockholders to promote and preserve the continuous employment of key management personnel. The Board of Directors of the Company (the “Board”) recognizes that, as is the case with many corporations, the possibility of a Change in
Control (as defined in Section 2 hereof) exists and that such possibility, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the
Company and its stockholders. Therefore, the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of members of the Company’s key management, including the Employee,
to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. Nothing in this Agreement shall be construed as creating an express or implied contract of
employment and, except as otherwise agreed in writing between the Employee and the Company, the Employee shall not have any right to be retained in the employ of the Company. 

2.    Change in Control. A “Change in Control” shall be deemed to have occurred upon the occurrence
of any one of the following events: any transaction or series of transactions pursuant to which any person(s) or entity(ies) in the aggregate acquire(s) (i) capital stock of the Company possessing over 50% of the voting power (other than voting
rights accruing only in the event of a default, breach or event of noncompliance) or the power to elect a majority of the Board (whether by merger, consolidation, reorganization, combination, sale or transfer of the Company’s capital stock,
shareholder or voting agreement, proxy, power of attorney or otherwise) or (ii) over 50% of the Company’s assets determined on a consolidated basis. In no event will a public offering under the Securities Act of 1933 be considered a Change
in Control. For the avoidance of doubt, the determination of whether a transaction constitutes a Change in Control within the meaning of this Agreement shall be determined by the Board, acting in its sole discretion. 

3.    Terminating Event.

A “Terminating Event” shall mean any of the events provided in Section 3(a) or 3(b): 

(a)    Termination by the Company. Termination by the Company of the employment of the Employee with the
Company for any reason other than for Cause, or due to the Employer’s death or Disability.
 For purposes of this Agreement,
“Cause” shall mean, as determined by the Board in good faith; (a) “cause” as defined in any employment agreement or consulting agreement between the Employee and the Company, or, (b) if the Employee is not a party to an

  
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employment agreement or consulting agreement in which “cause” is defined, then (i) the conviction of, or plea of nolo contendere to, a felony or other crime involving moral
turpitude, the misappropriation of funds or other material property of the Company the attempt to willfully obtain any personal profit from any transaction in which the Company has an interest which is adverse to the interests of the Company or any
other act of fraud or embezzlement against the Company, or any of its customers or suppliers, (ii) reporting to work under the influence of alcohol or drugs or repeatedly using alcohol or illegal drugs or abusing legal drugs, whether or not at
the workplace, in such a fashion as could reasonably be expected to cause the Company material harm, (iii) substantial and repeated failure to perform duties as reasonably directed by the Company in writing, (iv) any intentional act or
intentional omission aiding or abetting a competitor, supplier or customer of the Company to the material disadvantage or detriment of the Company , or (v) any breach of fiduciary duty, gross negligence or willful misconduct with respect to the
Company which (if capable of cure) is not cured to the Company’s reasonable satisfaction within ten (10) days after written notice thereof to the Employee. 

For purposes hereof, “Disability” shall mean the Employee’s incapacity due, to physical or mental illness as a result of which,
the Employee shall have been absent from his duties to the Company on a full-time basis for 180 calendar days in the aggregate in any 12-month period. 

(b)    Termination by the Employee for Good Reason. Termination by the Employee of the Employee’s
employment with the Company for Good Reason. For purposes of this Agreement, “Good Reason” shall exist upon the occurrence, without the Employee’s consent, of any one or more of the following circumstances: 

(i) Any material reduction of the Employee’s annual base salary, provided that any reduction that is a part of a general
reduction in the base compensation of Employees of the same grade level that occurs prior to the date of the Change in Control shall not be “Good Reason”; 

(ii) Any action or inaction by the Company that constitutes a material breach by the Company of any applicable plan, program or
agreement under which the Employee provides services; 
 (iii) The material reduction or material adverse modification of the
Employee’s title, position or responsibilities, such that the Employee’s title, position or responsibilities are inconsistent with those in effect prior to the reduction or modification; or 

(iv) Any requirement that the Employee relocate his principal place of employment by more than a fifty (50)-mile radius from
its location and such relocation results in a material increase in the Employee’s customary daily commute. 
 Notwithstanding the
foregoing, any of the circumstances described above in Section 3(b)(i), (ii), (iii) or (iv) may not serve as a basis for resignation for “Good Reason” by the Employee unless (a) the Employee has provided written notice to
the Company that such circumstance exists within ninety (90) days of the initial existence of such circumstance and the 

  
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Company has failed to cure such circumstance within thirty (30) days following such notice; and (b) the Employee termination of employment due to such circumstance occurs within the two
(2) year period following the initial existence of such circumstance. 
 4.    Change in Control
Payment. In the event a Terminating Event occurs in connection with, related to or within the six-month period before or the 12-month period following the
effective date of a Change in Control and provided the Employee enters into and complies with a separation and release agreement in accordance with Section 4(d) below, the following shall occur: 

(a)    the Company shall pay to the Employee an amount equal to (i) two times the Employee’s annual base
salary in effect immediately prior to the Change in Control plus (ii) two times the Average Bonus, payable in a single lump-sum payment on the Date of Termination, subject to the provisions of
Section 4(d) and 7(a). For purposes of this provision, the “Average Bonus” is determined as the average annual bonus earned under the annual incentive plan in which the Employee participates immediately prior to the Date of
Termination and paid by the Company to the Employee for performance in the three fiscal years preceding the Date of Termination (excluding any special or one-time bonuses or any amounts not attributable to the
applicable annual incentive plan). If the Employee did not receive a bonus (or received a prorated bonus) in any of those three preceding fiscal years due to the Employee commencing employment with the Company, the applicable period of employment
(i.e. the other one or two years of bonuses) shall be used to calculate the average. If the Employee is terminated prior to having been paid any bonus with respect to a fiscal year, then the Employee’s Average Bonus will be calculated with
respect to such fiscal year based on the Employee’s target bonus under the Employee’s Annual Incentive Plan (or any successor annual bonus program) or other applicable annual incentive plan in which the Employee participates immediately
prior to the Date of Termination; and 
 (b)    if the Employee was participating in the Company’s group health
plan immediately prior to the Date of Termination and elects continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) then the Company shall pay to the Employee a monthly cash payment for 12 months
or the Employee’s COBRA health continuation period, whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the Employee if the Employee had remained
employed by the Company; and 
 (c)    a pro rata annual bonus for the fiscal year in which the Date of Termination
occurs, based on the Company’s actual performance, which pro rata bonus, if any, shall be paid to the Employee at such time as bonuses are paid to other similarly situated employees of the Company. In no event, however, shall such bonus be paid
to the Employee later than 90 days following the close of the taxable year in which the Date of Termination occurs, subject to Section 7(a). 

(d)    The Change in Control payments and benefits under this Section are expressly conditioned on (i) the Employee
timely executing and returning a general release of all claims arising out of his employment with, and termination of employment from, the Company in a form provided by the Company (the “General Release”) and (ii) the revocation
period 

  
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specified in such General Release expiring no later than sixty (60) days after the date on which the Employee’s employment terminated (or prior to the end of such shorter period
specified in such General Release) and without the Employee exercising his right of revocation as set forth in the General Release. The Change in Control payments and benefits hereunder shall be paid on the Company’s next regular payroll date
following the effective date of the General Release, or, if the number of days for execution of the General Release and any revocation period thereunder spans two calendar years, the Company’s next regular payroll period following the later of
the effective date of the General Release or the first business day of the second calendar year. 
 5.    Death;
Disability; Cause.    In the event Employee’s employment is terminated, at any time whether before or following a Change in Control, for Cause or due to Employee’s death, Disability or voluntary resignation without
Good Reason, Employee shall not be entitled to any payments under Section 4 or to any benefits under this Agreement and this Agreement shall be terminated. 

6.    Additional Limitation. 

(a)    Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation,
payment or distribution by the Company to or for the benefit of the Employee, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of
the Code and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum
of all of the Aggregate Payments shall be $1.00 less than the amount at which the Employee becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would result in the Employee
receiving a higher After Tax Amount (as defined below) than the Employee would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following order, in each case, in
reverse chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (1) cash payments not subject to Section 409A
of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits. 

(b)    For purposes of this Section 6, the “After Tax Amount” means the amount of the Aggregate Payments
less all federal, state, and local income, excise and employment taxes imposed on the Employee as a result of the Employee’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Employee shall be deemed
to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of
individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. 

(c)    The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 6(a)
shall be made by a nationally or regionally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed 

  
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supporting calculations both to the Company and the Employee within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company
or the Employee. Any determination by the Accounting Firm shall be binding upon the Company and the Employee. 

7.    Section 409A. 

(a)    Anything in this Agreement to the contrary notwithstanding, if at the time of the Employee’s “separation
from service” within the meaning of Section 409A of the Code, the Company determines that the Employee is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or
benefit that the Employee becomes entitled to under this Agreement on account of the Employee’s separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to
Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one
day after the Employee’s separation from service, or (B) the Employee’s death.
 (b)    The parties
intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be
read in such a manner so that all payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with
Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. No such amendment shall have the effect of accelerating or deferring any
payment or benefit hereunder, except as may be permitted under Section 409A of the Code. 
 (c)    All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by the Employee during the time periods set forth in this Agreement. All
reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement
in any other taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

(d)    To the extent that any payment or benefit described in this Agreement constitutes
“non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Employee’s termination of employment, then such
payments or benefits shall be payable only upon the Employee’s “separation from service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in
Treasury Regulation Section 1.409A-1(h). 

  
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 (e)    The Company makes no representation or warranty and shall have no
liability to the Employee or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.

 8.    Non-Competition; Nondisclosure of Confidential Information; Non-Hire of Company Employees; Non-Interference. 
 (a)    Non-Competition. To further preserve the rights of the Company pursuant to the nondisclosure covenant discussed below, and for the consideration promised by the Company under this
Agreement, during Executive’s employment with the Company and for a period of six (6) months thereafter (such six (6) month period, the “Non-Compete Period”), regardless of the reason
for termination of employment, Executive will not, directly or indirectly, as an owner, director, principal, agent, officer, employee, partner, consultant, servant, or otherwise, carry on, operate, manage, control, or become involved in any manner
with any business, operation, corporation, partnership, association, agency, or other person or entity which is in the same business as the Company in any location in which the Company, or any subsidiary or affiliate of the Company, operates or has
plans or has projected to operate during Executive’s employment with the Company, including any area within a 50-mile radius of any such location (a “Competing Business”). The foregoing shall
not prohibit Executive from owning up to 5.0% of the outstanding stock of any publicly held company. Notwithstanding the foregoing, after Executive’s employment with the Company has terminated, upon receiving written permission by the Board,
Executive shall be permitted to engage in such competing activities that would otherwise be prohibited by this covenant if such activities are determined in the sole discretion of the Board in good faith to be immaterial to the operations of the
Company, or any subsidiary or affiliate of the Company, in the location in question. The Company and Executive agree that the restrictions contained in this noncompetition covenant are reasonable in scope and duration and are necessary to protect
the Company’s business interests and Confidential Information. If any provision of this noncompetition covenant as applied to any party or to any circumstance is adjudged by a court or arbitrator to be invalid or unenforceable, the same will in
no way affect any other circumstance or the validity or enforceability of this Agreement. If any such provision, or any part thereof, is held to be unenforceable because of the scope, duration, or geographic area covered thereby, the parties agree
that the court or arbitrator making such determination shall have the power to reduce the scope and/or duration and/or geographic area of such provision, and/or to delete specific words or phrases, and in its reduced form, such provision shall then
be enforceable and shall be, enforced. The parties agree and acknowledge that the breach of this noncompetition covenant may cause irreparable damage to the Company, and upon breach of any provision of this noncompetition covenant, the Company shall
be entitled to injunctive relief, specific performance, or other equitable relief (without the necessity of posting a bond); provided, however, that this shall in no way limit any other remedies which the Company may have (including, without
limitation, the right to seek monetary damages). Should Executive violate the provisions of this noncompetition covenant, then in addition to all other rights and remedies available to the Company at law or in equity, the duration of this covenant
shall automatically be extended for the period of time from which Executive began such violation until he permanently ceases such violation. 

  
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 (b)    Nondisclosure of Confidential Information. During the course of
Executive’s employment with the Company, the Company will provide Executive with access to certain confidential information, trade secrets, and other matters which are of a confidential or proprietary nature, including but not limited to the
Company’s customer lists, pricing information, production and cost data, compensation and fee information, strategic business plans, budgets, financial statements, and other information the Company treats as confidential or proprietary
(collectively the “Confidential Information”). The Company provides on an ongoing basis such Confidential Information as the Company deems necessary or desirable to aid Executive in the performance of his duties. Executive understands and
acknowledges that such Confidential Information is confidential and proprietary, and agrees not to use or disclose such Confidential Information to anyone outside the Company except to the extent that (a) Executive deems such disclosure or use
reasonably necessary or appropriate in connection with performing his duties on behalf of the Company; (b) Executive is required by order of a court of competent jurisdiction (by subpoena or similar process) to disclose or discuss any
Confidential Information, provided that in such case, Executive shall promptly inform the Company of such event, shall cooperate with the Company in attempting to obtain a protective order or to otherwise restrict such disclosure, and shall only
disclose Confidential Information to the minimum extent necessary to comply with any such court order. Confidential Information shall no longer be deemed confidential or proprietary at such time as it becomes generally known to and available for use
in the industries in which the Company does business, other than as a result of any action or inaction by Executive. Executive further agrees that he will not during employment and/or at any time thereafter use such Confidential Information in
competing, directly or indirectly, with the Company. At such time as Executive shall cease to be employed by the Company or any other time as requested by the Company, Executive will immediately turn over to the Company all Confidential Information,
including papers, documents, writings, electronically stored information, other property, and all copies of them, provided to or created by him during the course of his employment with the Company, except for any of Executive’s personal
employment-related documents or agreements, equity plan documents or any tax-related documentation. This nondisclosure covenant is binding on Executive, as well as his heirs, successors, and legal
representatives, and will survive the termination of this Agreement for any reason. 

(c)    Non-Hire of Company Employees;
Non-Interference with Customers and Others. To further preserve the rights of the Company pursuant to the nondisclosure covenant discussed above, and for the consideration promised by the Company under this
Agreement, during the term of Executive’s employment with the Company and for a period of twenty-four (24) months thereafter, regardless of the reason for termination of employment, Executive will not, directly or indirectly, (i) hire
any current or prospective employee of the Company, or any subsidiary or affiliate of the Company (including, without limitation, any current or prospective employee of the Company within the 6-month period
preceding Executive’s last day of employment with the Company or within the 12-month period of this covenant) who worked, works, and with respect to whom Executive had any role, direct or indirect, in
recruiting on behalf of the Company or who was, or would have been, a direct report of Executive in his position at the Company; (ii) solicit or encourage any such employee to terminate their employment with the Company, or any subsidiary or
affiliate of the Company; (iii) solicit or encourage any such employee to accept employment with any business, operation, corporation, partnership, association, agency, or other person or entity with which Executive may be

  
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associated; or (iv) for the benefit of any Competing Business (as defined above, provided that for purposes of this paragraph, without respect to any geographic limitations on scope that
might otherwise apply to such definition for other purposes within this Agreement), compete for, solicit, divert, or take away, or attempt to divert or take away current or prospective customers (including, without limitation, any customer with whom
the Company, or any subsidiary or affiliate of the Company, (a) has an existing agreement or business relationship; (b) has had an agreement or business relationship within the six-month period
preceding Executive’s last day of employment with the Company; or (c) has been included as a prospect in its applicable pipeline) of the Company, or any subsidiary or affiliate of the Company. 

9.    Term. This Agreement shall take effect on the date first set forth above and shall continue in effect
until December 31, 2019. Thereafter, this Agreement shall automatically renew annually, effective January 1 of each year, for successive one-year terms unless either party shall notify the other of
its intent not to renew by providing written notice to that effect to the other party no later than October 31st preceding the renewal date. Notwithstanding the preceding, this Agreement shall
terminate upon the earlier of (a) the termination of the Employee’s employment for any reason prior to a Change in Control, (b) the termination of the Employee’s employment with the Company after a Change in Control for any
reason other than the occurrence of a Terminating Event, or (c) the date which is [twelve] months after a Change in Control if the Employee is still employed by the Company. 

10.    Withholding. All payments made by the Company to the Employee under this Agreement shall be net of any
federal, state and/or local taxes or other amounts required to be withheld by the Company under applicable law. 

11.    Notice and Date of Termination. 

(a)    Notice of Termination. After a Change in Control and during the term of this Agreement, any purported
termination of the Employee’s employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with this Section 10. For purposes of this
Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific provision in this Agreement relied upon in granting or denying benefits hereunder.

(b)        Date of Termination. “Date of Termination” shall mean: (i) if
the Employee’s employment is terminated on account of Employee’s Disability or by the Company with or without Cause, the date on which Notice of Termination is given; (ii) if the Employee’s employment is terminated by the
Employee without Good Reason, 30 days after the date on which a Notice of Termination is given, and (iii) if the Employee’s employment is terminated by the Employee with Good Reason, the date on which a Notice of Termination is given after
the end of the cure period provided in Section 3(b). Notwithstanding the foregoing, in the event that the Employee gives a Notice of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such
acceleration shall not result in a termination by the Company for purposes of this Agreement. 
 12.    No
Mitigation. The Company agrees that, if the Employee’s employment by the Company is terminated during the term of this Agreement, the Employee is not required to seek 

  
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other employment or to attempt in any way to reduce any amounts payable to the Employee by the Company pursuant to Section 4 hereof. Further, the amount of any payment provided for in
this Agreement shall not be reduced by any compensation earned by the Employee as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Employee to the Company or otherwise. 

13.    Consent to Jurisdiction. The parties hereby consent to the jurisdiction of the courts of the State of
Mississippi and the United States District Court for the Southern District of Mississippi. Accordingly, with respect to any such court action, the Employee (a) submits to the personal jurisdiction of such courts; (b) consents to
service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process. 

14.    Integration; Protected Disclosures. This Agreement constitutes the entire agreement between the parties
with respect to the subject matter hereof and supersedes in all respects all prior agreements between the parties concerning such subject matter. For the avoidance of doubt, nothing in contained in this Agreement or otherwise shall limit the
Employee’s ability to communicate with any federal, state or local governmental agency or commission, including providing documents or other information, without notice to the Company.

15.    Successor to the Employee. This Agreement shall inure to the benefit of and be enforceable by the
Employee’s personal representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Employee’s death after a Terminating Event but prior to the completion by the Company of all payments due
him under this Agreement, the Company shall continue such payments to the Employee’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Employee fails to make such designation). 

16.    Enforceability. If any portion or provision of this Agreement (including, without limitation, any
portion or provision of any Section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in
circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

17.    Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the
waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation
or be deemed a waiver of any subsequent breach. 
 18.    Notices. Any notices, requests, demands and other
communications provided for by this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return receipt requested, to
the Employee at the last address the Employee has filed in writing with the Company, or to the Company at its main office, attention of the Board of Directors. 

  
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 19.    Amendment. This Agreement may be amended or modified
only by a written instrument signed by the Employee and by a duly authorized representative of the Company. 

20.    Effect on Other Plans. An election by the Employee to resign after a Change in Control under the
provisions of this Agreement shall not be deemed a voluntary termination of employment by the Employee for the purpose of interpreting the provisions of any of the Company’s benefit plans, programs or policies. Nothing in this Agreement
shall be construed to limit the rights of the Employee under the Company’s benefit plans, programs or policies except as otherwise provided in Section 6 hereof, and except that the Employee shall have no rights to any severance benefits
under any Company severance pay plan. In the event that the Employee is party to an employment agreement with the Company providing for change in control payments or benefits, the Employee may receive payment under this Agreement only and not
both.
 21.    Governing Law. This is a Mississippi contract and shall be construed under and be governed in
all respects by the laws of the State of Mississippi, without giving effect to the conflict of laws principles of such State. With respect to any disputes concerning federal law, such disputes shall be determined in accordance with the law as
it would be interpreted and applied by the United States Court of Appeals for the Fifth Circuit. 
 22.    Successor
to Company. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform
this Agreement to the same extent that the Company would be required to perform it if no succession had taken place. Failure of the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a
material breach of this Agreement. 
 23.    Gender Neutral. Wherever used herein, a pronoun in the
masculine gender shall be considered as including the feminine gender unless the context clearly indicates otherwise. 

24.    Counterparts. This Agreement may be executed in any number of counterparts, each of which when so
executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document.
 IN
WITNESS WHEREOF, the parties have executed this Agreement effective on the date and year first above written. 
  

							
	BANCPLUS CORPORATION	 		 		 	EMPLOYEE
				
	
By:                  
                                         
          
	 		 		 	                                     
                                
	
Name:                  
                                         
     
	 		 		 	Max S. Yates
	
Title:                  
                                         
       
	 		 		 	

  
 10EX-10.5

 Exhibit 10.5 

BANCPLUS CORPORATION 

2018 LONG-TERM INCENTIVE PLAN 

 BANCPLUS CORPORATION 

2018 LONG-TERM INCENTIVE PLAN 

Table of Contents 
  

							
			
		  		  	 	Page	 
		
	 ARTICLE I PURPOSE AND EFFECTIVE DATE
	  	 	1	 
			
	 1.1  
	  	 Purpose
	  	 	1	 
			
	 1.2  
	  	 Effective Date
	  	 	1	 
		
	 ARTICLE II DEFINITIONS
	  	 	1	 
			
	 2.1  
	  	 “Affiliate”
	  	 	1	 
			
	 2.2  
	  	 “Board”
	  	 	1	 
			
	 2.3  
	  	 “Cause”
	  	 	1	 
			
	 2.4  
	  	 “Change in Control”
	  	 	2	 
			
	 2.5  
	  	 “Code”
	  	 	2	 
			
	 2.6  
	  	 “Committee”
	  	 	2	 
			
	 2.7  
	  	 “Company”
	  	 	2	 
			
	 2.8  
	  	 “Disability”
	  	 	2	 
			
	 2.9  
	  	 “Dividend Equivalent Rights”
	  	 	2	 
			
	 2.10 
	  	 “Exchange Act”
	  	 	2	 
			
	 2.11 
	  	 “Fair Market Value”
	  	 	2	 
			
	 2.12 
	  	 “Incentive Stock Option”
	  	 	3	 
			
	 2.13 
	  	 “Option”
	  	 	3	 
			
	 2.14 
	  	 “Over 10% Owner”
	  	 	3	 
			
	 2.15 
	  	 “Non-Qualified Stock Option”
	  	 	3	 
			
	 2.16 
	  	 “Participant”
	  	 	3	 
			
	 2.17 
	  	 “Performance Unit Award”
	  	 	3	 
			
	 2.18 
	  	 “Plan”
	  	 	3	 
			
	 2.19 
	  	 “Reload Option”
	  	 	3	 
			
	 2.20 
	  	 “Restricted Stock Award”
	  	 	3	 
			
	 2.21 
	  	 “Restricted Stock Units”
	  	 	4	 
			
	 2.22 
	  	 “Retirement”
	  	 	4	 
			
	 2.23 
	  	 “Stock”
	  	 	4	 
			
	 2.24 
	  	 “Stock Appreciation Right”
	  	 	4	 
			
	 2.25 
	  	 “Stock Incentive Agreement”
	  	 	4	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 2.26 
	  	 “Stock Incentives”
	  	 	4	 
			
	 2.27 
	  	 “Termination of Employment”
	  	 	4	 
		
	 ARTICLE III ELIGIBILITY AND PARTICIPATION
	  	 	4	 
			
	 3.1  
	  	 Eligibility
	  	 	4	 
			
	 3.2  
	  	 Participation
	  	 	4	 
		
	 ARTICLE IV STOCK SUBJECT TO PLAN
	  	 	5	 
			
	 4.1  
	  	 Types of Shares
	  	 	5	 
			
	 4.2  
	  	 Aggregate Limit
	  	 	5	 
			
	 4.3  
	  	 Participant Limits
	  	 	5	 
		
	 ARTICLE V ADMINISTRATION
	  	 	5	 
			
	 5.1  
	  	 Action of the Committee
	  	 	5	 
			
	 5.2  
	  	 Duties and Powers of the Committee
	  	 	6	 
			
	 5.3  
	  	 Delegation
	  	 	6	 
			
	 5.4  
	  	 No Liability
	  	 	6	 
		
	 ARTICLE VI TERMS OF STOCK INCENTIVES
	  	 	6	 
			
	 6.1  
	  	 Terms and Conditions of All Stock Incentives
	  	 	6	 
			
	 6.2  
	  	 Terms and Conditions of Options
	  	 	8	 
			
	 6.3  
	  	 Terms and Conditions of Stock Appreciation Rights
	  	 	10	 
			
	 6.4  
	  	 Terms and Conditions of Restricted Stock Awards
	  	 	11	 
			
	 6.5  
	  	 Terms and Conditions of Dividend Equivalent Rights
	  	 	12	 
			
	 6.6  
	  	 Terms and Conditions of Performance Unit Awards
	  	 	13	 
			
	 6.7  
	  	 Terms and Conditions of Restricted Stock Units
	  	 	13	 
			
	 6.8  
	  	 Treatment of Awards Upon Termination of Employment
	  	 	14	 
			
	 6.9  
	  	 Deferred Compensation
	  	 	14	 
		
	 ARTICLE VII RESTRICTIONS ON STOCK
	  	 	15	 
			
	 7.1  
	  	 Escrow of Shares
	  	 	15	 
			
	 7.2  
	  	 Restrictions on Transfer
	  	 	15	 
		
	 ARTICLE VIII TERMINATION AND AMENDMENT
	  	 	15	 
			
	 8.1  
	  	 Termination and Amendment
	  	 	15	 
			
	 8.2  
	  	 Effect on Participants’ Rights
	  	 	15	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
		
	ARTICLE IX GENERAL PROVISIONS	  	 	16	 
			
	 9.1  
	  	 Withholding
	  	 	16	 
			
	 9.2  
	  	 Changes in Capitalization; Merger; Liquidation
	  	 	16	 
			
	 9.3  
	  	 Compliance with Code
	  	 	17	 
			
	 9.4  
	  	 Right to Terminate Employment or Service
	  	 	18	 
			
	 9.5  
	  	 Non-Alienation of Benefits
	  	 	18	 
			
	 9.6  
	  	 Restrictions on Delivery and Sale of Shares; Legends
	  	 	18	 
			
	 9.7  
	  	 Listing and Legal Compliance
	  	 	18	 
			
	 9.8  
	  	 Stockholder Approval
	  	 	18	 
			
	 9.9  
	  	 Choice of Law
	  	 	18	 
			
	 9.10 
	  	 Plan Binding on Successors
	  	 	19	 
			
	 9.11 
	  	 Singular, Plural; Gender
	  	 	19	 
			
	 9.12 
	  	 Headings, etc., No Part of Plan
	  	 	19	 

  
 -iii- 

 BANCPLUS CORPORATION 

2018 LONG-TERM INCENTIVE PLAN 

BANCPLUS CORPORATION (the “Company”) hereby establishes the BANCPLUS CORPORATION 2018 LONG-TERM INCENTIVE PLAN (the
“Plan”) for the benefit of eligible employees, officers and directors. 
 ARTICLE I 

PURPOSE AND EFFECTIVE DATE 

1.1    Purpose. The purpose of the Plan is to (a) provide incentives to certain officers, employees, and
directors of the Company and its Affiliates to stimulate their efforts toward the continued success of the Company and to operate and manage the business in a manner that will provide for the long-term growth and profitability of the Company;
(b) encourage stock ownership by certain officers, employees, and directors, by providing them with a means to acquire a proprietary interest in the Company, acquire shares of Stock, or to receive compensation which is based upon appreciation
in the value of Stock; and (c) provide a means of obtaining, rewarding and retaining officers, employees, and directors. 

1.2    Effective Date. The Plan shall become effective as of January 1, 2018 (the “Effective Date”),
subject to the approval of the Company’s stockholders. 
 ARTICLE II 

DEFINITIONS 

2.1    “Affiliate” means any entity, including a subsidiary, that directly or through one or more
intermediaries controls, is controlled by, or is under common control with the Company, and with which the Company would be deemed a single employer under the provisions of Code Section 414(b) or 414(c). 

2.2    “Board” means the board of directors of the Company. 

2.3    “Cause” means: 

(i)    Participant’s commission of an act of fraud, embezzlement or other act of dishonesty that would reflect
adversely on the integrity, character, or reputation of the Company or an Affiliate, or that would cause harm to customer relations, operations, or business; 

(ii)    Participant’s breach of a fiduciary duty owed to the Company or an Affiliate; 

(iii)    Participant’s unauthorized disclosure or use of confidential information or trade secrets; 

(iv)    Participant’s conviction of a felony or conviction of a misdemeanor which materially impairs
Participant’s ability substantially to perform his duties; or 

  
 1 

 (v)    Participant’s neglect or misconduct in the performance of
duties and responsibilities, which is not cured within ten (10) days after the Company or an Affiliate gives Participant written notice of such neglect or misconduct. 

2.4    “Change in Control” means a change in ownership or effective control of the Company, or a change
in the ownership of a substantial portion of the assets of the Company as defined for purposes of Code Section 409A in the rulings, regulations and other guidance issued thereunder as currently in effect and as may hereafter from time to time
be amended. 
 2.5    “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 2.6    “Committee” means the committee appointed by the Board to administer the Plan, as more fully
described in Article V. 
 2.7    “Company” means BancPlus Corporation, a Mississippi corporation. 

2.8    “Disability” has the same meaning as provided in the long-term disability plan or policy
maintained or, if applicable, most recently maintained, by the Company or, if applicable, any Affiliate of the Company 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 means that condition described in Code Section 22(e)(3), as amended from time to time. Notwithstanding the preceding, however, with respect to any Stock Incentive
under the Plan that provides for a deferral of compensation subject to the provisions of Code Section 409A, Disability means the Participant is, by reason of any medically determinable physical or mental impairment which can be expected to
result in death or to last for a continuous period of not less than twelve (12) months, either (i) unable to engage in any substantial gainful activity or (ii) receiving income replacement benefits for a period of not less than three
(3) months under an accident and health plan covering employees of the Company. In the event of a dispute, the determination of Disability will be made by the Committee and will be supported by advice of a physician competent in the area to
which such Disability relates. 
 2.9    “Dividend Equivalent Rights” means certain rights to receive
cash payments as described in Section 6.5. 
 2.10    “Exchange Act” means the Securities Exchange
Act of 1934, as amended from time to time. 
 2.11    “Fair Market Value” refers to the determination
of the value of a share of Stock as of a date, determined as follows: 
 (a)    if the shares of Stock
are actively traded on any national securities exchange or any nationally recognized quotation or market system (including, without limitation Nasdaq), Fair Market Value shall mean the closing price of the Stock on such date or, if such exchange was
not open for trading on such date, on the trading day immediately preceding such date, as reported by any such exchange or system selected by the Committee on which the shares of Stock were then traded; 

  
 2 

 (b)    if the shares of Stock are not actively traded on
any such exchange or system, Fair Market Value shall mean the average of the closing high bid and low asked prices of the Stock on the over-the-counter market on such day, or in the absence of closing bids on such day, the closing bids on the next
preceding day on which there were bids; or 
 (c)    if the shares of Stock are not actively traded or
reported on any exchange or system or over-the-counter markets, Fair Market Value shall mean the fair market value of a share of Stock as determined by the Committee taking into account such facts and circumstances deemed to be material by the
Committee to the value of the Stock in the hands of the Participant, including but not limited to opinions of independent experts, the price at which recent sales have been made, the book value of the Stock and the Company’s current and future
earnings. 
 Notwithstanding the foregoing, for purposes of granting Non-Qualified Stock Options or Stock Appreciation Rights or any other award which
provides for the deferral of compensation subject to Code Section 409A, Fair Market Value of the Stock shall be determined in accordance with the requirements of Code Section 409A and the rulings, treasury regulations and other guidance
issued thereunder as currently in effect or as may subsequently be amended from time to time; and for purposes of granting Incentive Stock Options, Fair Market Value of the Stock shall be determined in accordance with the requirements of Code
Section 422. 
 2.12    “Incentive Stock Option” means an incentive stock option under Code
Section 422 and any regulations promulgated thereunder. 
 2.13    “Option” means a Non-Qualified Stock
Option or an Incentive Stock Option granted pursuant to Section 6.2 hereof. 
 2.14    “Over 10%
Owner” means an individual who, at the time an Incentive Stock Option is granted to such individual, owns Stock possessing more than 10% of the total combined voting power of the Company or one of its Subsidiaries, determined by applying
the attribution rules of Code Section 424(d). 
 2.15    “Non-Qualified Stock Option” means an
option to purchase Stock which is granted under the Plan and that is not an Incentive Stock Option. 

2.16    “Participant” means an individual who receives an award of a Stock Incentive hereunder. 

2.17    “Performance Unit Award” refers to a performance unit award as described in Section 6.6.

 2.18    “Plan” means the BancPlus Corporation 2018 Long-Term Incentive Plan as established under the
provisions hereof. 
 2.19    “Reload Option” means an Option awarded pursuant to Section 6.2(i)
hereof. 
 2.20    “Restricted Stock Award” means an award of Stock subject to restrictions determined
by the Committee as described in Section 6.4. 

  
 3 

 2.21    “Restricted Stock Units” refers to an award
under the Plan as described in Section 6.7. 
 2.22    “Retirement” means a Participant’s
Termination of Employment after attaining age sixty-five (65) for any reason other than due to death, Disability or an involuntary termination for Cause. 

2.23    “Stock” means the Company’s One Dollar ($1.00) par value common stock. 

2.24    “Stock Appreciation Right” means a stock appreciation right as described in Section 6.3.

 2.25    “Stock Incentive Agreement” means an agreement between the Company and a Participant or
other documentation evidencing an award of a Stock Incentive under the Plan. 
 2.26    “Stock
Incentives” means, collectively, Dividend Equivalent Rights, Incentive Stock Options, Non-Qualified Stock Options, Performance Unit Awards, Restricted Stock Awards, Restricted Stock Units and Stock Appreciation Rights. 

2.27    “Termination of Employment” means the termination of the employment or other service relationship
between a Participant and the Company and its Affiliates, regardless of whether 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 will, in its absolute discretion, determine the effect of all matters and questions relating to a Termination of Employment as it affects a Stock Incentive, including, but not by way of limitation, the
question of whether a leave of absence constitutes a Termination of Employment; provided, however, with respect to any Stock Incentive that provides for a deferral of compensation subject to the provisions of Code Section 409A, a leave of
absence shall only constitute a Termination of Service to the extent and at such time as such leave of absence would be deemed to constitute a separation from service for purposes of Code Section 409A in the rulings, treasury regulation and other
guidance issued thereunder as currently in effect or as may subsequently be amended from time to time. 
 ARTICLE III  

ELIGIBILITY AND PARTICIPATION 

3.1    Eligibility. Any employee, officer, or director of the Company or an Affiliate who is selected by the
Committee is eligible to receive a Stock Incentive under this Plan; provided, however an Incentive Stock Option may only be granted to an employee of the Company or an Affiliate. 

3.2    Participation. As a condition precedent to participation in the Plan, the employee, officer, or director
selected by the Committee shall enter into a Stock Incentive Agreement with the Company agreeing to the terms and conditions of the Plan and the Stock Incentive awarded. 

  
 4 

 ARTICLE IV 

STOCK SUBJECT TO PLAN 

4.1    Types of Shares. The Stock subject to the provisions of this Plan shall either be shares of authorized but
unissued Stock, shares of Stock held as treasury stock or previously issued shares of Stock reacquired by the Company, including shares purchased on the open market. 

4.2    Aggregate Limit. Subject to adjustment in accordance with Section 9.2, two hundred fifty thousand
(250,000) shares of Stock are hereby reserved exclusively for issuance upon an award of or exercise or payment pursuant to Stock Incentives under the Plan, all or any of which may be pursuant to any one or more Stock Incentives, including
without limitation, Incentive Stock Options. The number of shares of Stock available for awards of Stock Incentives hereunder shall be reduced by the number of shares for which Stock Incentives are actually granted. The grant of a Performance Stock
Award shall be deemed to equal the maximum number of shares of Stock which may be issued under such award. The shares of Stock attributable to the nonvested, unpaid, unexercised, unconverted or otherwise unsettled portion of any Stock Incentive that
is forfeited or cancelled or that expires or terminates for any reason without becoming vested, paid, exercised, converted or otherwise settled in full shall not count against this aggregate limit and shall again become available for grants of Stock
Incentive awards under the Plan (unless the Participant received dividends or other economic benefits with respect to such shares of Stock, which dividends or other economic benefits are not forfeited, in which case such shares shall count against
this aggregate limit). 
 4.3    Participant Limits. In the case of Incentive Stock Options, the aggregate Fair
Market Value (determined as of the date an Incentive Stock Option is granted) of Stock with respect to which stock options intended to meet the requirements of Code Section 422 become exercisable for the first time by an individual during any
calendar year under all plans of the Company and its Affiliates may not exceed $100,000; provided further, that if the limitation is exceeded, the Incentive Stock Option(s) which cause the limitation to be exceeded will be treated as Non-Qualified
Stock Option(s). 
 ARTICLE V 

ADMINISTRATION 

5.1    Action of the Committee. The Plan shall be administered by a Committee. The Committee shall consist of such
members as the Board shall from time to time determine which members shall be appointed by and subject to removal by the Board. The Committee shall select one of its members as its Chairman and shall hold its meetings at such times and places as it
may determine. The Committee shall keep minutes of its meetings and shall make such rules and regulations for the conduct of its business as it may deem necessary. The Committee shall have the power to act by unanimous written consent in lieu of a
meeting, and to meet telephonically. A majority of the members of the Committee shall constitute a quorum, and any action taken by a majority at a meeting at which a quorum is present, or any action taken without a meeting evidenced by a writing
executed by all the members of the Committee, shall constitute the action of the Committee. In administering the Plan, the Committee’s actions and determinations shall be binding on all interested parties. 

  
 5 

 5.2    Duties and Powers of the Committee. The Committee shall
have the power to grant Stock Incentives in accordance with the provisions of the Plan and may grant Stock Incentives singly, in combination, or in tandem. Subject to the provisions of the Plan, the Committee shall have the sole discretion and
authority to determine those individuals to whom Stock Incentives will be granted, the number of shares of Stock subject to each Stock Incentive, such other matters as are specified herein, and any other terms and conditions of a Stock Incentive,
including, without limitation, any acceleration of vesting, exercise or payment and/or any other consequence under the Stock Incentive in the event of an occurrence of a Change in Control. 

Except as otherwise required by the Plan, the Committee shall have authority to interpret and construe the provisions of this Plan and the Stock Incentive
Agreements and make determinations pursuant to any Plan provision or Stock Incentive Agreement which shall be final and binding on all persons. To the extent not inconsistent with the provisions of the Plan or the Code and subject to the provisions
of Section 6.9 hereof, the Committee may give a Participant an election to surrender a Stock Incentive in exchange for the grant of a new Stock Incentive, and shall have the authority to amend or modify an outstanding Stock Incentive Agreement,
or to waive any provision thereof, provided that the Participant consents to such action. 
 5.3    Delegation.
The Committee may designate any officers of the Company who are not members of the Committee to carry out its responsibilities under such conditions or limitations as it may set, other than (i) its authority with regard to Stock Incentives
granted to an officer or director of the Company subject to the reporting requirements of Section 16 of the Exchange Act, if any, and (ii) its discretionary authority to select Participants, award Stock Incentives and determine the terms
and conditions of Stock Incentives and any amendments or modifications thereto. 
 5.4    No Liability. Neither
any member of the Board nor any member of the Committee shall be liable to any person for any act or determination made in good faith with respect to the Plan or any Stock Incentive granted hereunder. 

ARTICLE VI 
 TERMS OF
STOCK INCENTIVES 
 6.1    Terms and Conditions of All Stock Incentives. The following provisions shall
apply to all Stock Incentives awarded under the Plan: 
 (a)    Shares Subject to Grant. The
number of shares of Stock as to which a Stock Incentive may be granted will be determined by the Committee in its sole discretion, subject to the provisions of Section 4.2 as to the total number of shares available for grants under the Plan and
subject to the participant limits in Section 4.3. 
 (b)    Stock Incentive Agreement. Each
Stock Incentive will be evidenced by a Stock Incentive Agreement in such form and containing such terms, conditions and 

  
 6 

 
restrictions as the Committee may determine to be appropriate. Each Stock Incentive Agreement is subject to the terms of the Plan and any provisions contained in the Stock Incentive Agreement
that are inconsistent with the Plan are null and void. 
 (c)    Date of Grant. The date as of
which a Stock Incentive is granted will be the date on which (i) the Committee has approved the terms and conditions of the Stock Incentive and has determined the recipient of the Stock Incentive and the number of shares covered by the Stock
Incentive, and has taken all such other actions necessary to complete the grant of the Stock Incentive, and (ii) the Participant and Company have entered into and executed a Stock Incentive Agreement with respect to such award. 

(d)    Other Grants. Any Stock Incentive may be granted in connection with all or any portion of a
previously or contemporaneously granted Stock Incentive. Exercise or vesting of a Stock Incentive granted in connection with another Stock Incentive may result in a pro rata surrender or cancellation of any related Stock Incentive, as specified in
the applicable Stock Incentive Agreement. 
 (e)    Transfer and Exercise. Stock Incentives are
not transferable or assignable except by will or by the laws of descent and distribution and are 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; or in the event of death of the Participant, by the legal representative of the Participant’s estate or if no legal representative has been appointed, by the successor in interest determined under the
Participant’s will; except to the extent that the Committee may provide otherwise as to any Stock Incentives other than Incentive Stock Options. 

(f)    Modification. Subject to the provisions of Section 6.9, after the date of grant of a
Stock Incentive, the Committee may, in its sole discretion, modify the terms and conditions of a Stock Incentive, except to the extent that such modification would be inconsistent with other provisions of the Plan or the Code or would adversely
affect the rights of a Participant under the Stock Incentive (except as otherwise permitted under the Plan). 

(g)    Payment. Stock Incentives for which any payment is due from a Participant including, without
limitation, the exercise of an Option, may be made in any form or manner authorized by the Committee in the Stock Incentive Agreement or by amendment thereto, including, but not limited to: 

(i)    U.S. Dollars by cash, personal check, bank draft, wire transfer or money order payable to the
Company, by money transfer or direct account debits; 
 (ii)    delivery to the Company of a number of
shares of Stock, which have been owned by the Participant for at least six (6) months prior to the date of such delivery, having an aggregate Fair Market Value on the date of delivery of not less than the product of the Exercise Price
multiplied by the number of shares of Stock the Participant intends to purchase upon exercise of an Option or the total amount due under such other Stock Incentive; 

  
 7 

 (iii)    a cashless exercise; 

(iv)    if approved by the Committee, through a net exercise procedure; or 

(v)    any combination of the above forms and methods. 

(h)    Restrictive Covenants. Any Stock Incentive granted hereunder may be conditioned upon the
agreement of the Grantee to such restrictive covenants, including but not limited to, confidentiality, non-solicitation of customers and non-solicitation of employees, as the Committee, in its discretion, shall determine. Such restrictive covenants
shall apply during such period as the Grantee is employed by the Company and all Affiliates and for such period thereafter as the Committee shall determine. The restrictive covenants, if any, and the term or terms thereof shall be set forth in the
Stock Incentive Agreement. 
 6.2    Terms and Conditions of Options. At the time any Option is granted, the
Committee will determine whether the Option is to be an Incentive Stock Option described in Code Section 422 or a Non-Qualified Stock Option. Each Option granted under the Plan must be clearly identified as to its status as an Incentive Stock
Option or a Non-Qualified Stock Option and the Stock Incentive Agreement shall reflect such status. Options awarded under the Plan shall be subject to the following terms and conditions: 

(a)    Option Price. Subject to adjustment in accordance with Section 9.2 and the other
provisions of this Section 6.2, the exercise price (the “Exercise Price”) per share of Stock purchasable under any Option shall be determined by the Committee in its sole discretion and must be set forth in the applicable Stock
Incentive Agreement. In no event, however, may the Exercise Price be less than the Fair Market Value of the Stock subject to the Option on the date the Option is granted. Notwithstanding the preceding, with respect to each grant of an Incentive
Stock Option to a Participant who is an Over 10% Owner, the Exercise Price may not be less than 110% of the Fair Market Value of the Stock subject to the Option on the date the Option is granted. Except as provided in Section 9.2, without approval
of the Company’s stockholders, the Exercise Price of an Option may not be amended or modified after the grant of the Option, and an Option may not be surrendered in consideration of, or in exchange for, the grant of a new Option having an
Exercise Price below that of the Option that was surrendered. 
 (b)    Option Term. Subject to
the following sentence, the exercise period for each Option granted under the Plan shall be determined by the Committee in its sole discretion and specified in the Stock Incentive Agreement. Any Incentive Stock Option granted to a Participant who is
not an Over 10% Owner is not exercisable after the expiration of ten (10) years after the date the Option is granted. Any Incentive Stock Option granted to an Over 10% Owner is not exercisable after the expiration of five (5) years after
the date the Option is granted. The Committee may restrict the time of the exercise of any Options to specified periods as may be necessary to satisfy the requirements of Rule 16b-3 as promulgated under the Exchange Act. 

  
 8 

 (c)    Exercise of Option. An Option shall be
exercised by (i) delivery to the Company at its principal office of a written notice of exercise with respect to all or a specified number of shares of Stock subject to the Option and (ii) payment to the Company at that office of the full
amount of the Exercise Price. If requested by a Participant, an Option may be exercised with the involvement of a stockbroker in accordance with the federal margin rules set forth in Regulation T (in which case the certificates representing the
underlying shares of Stock will be delivered by the Company directly to the stockbroker). 
 Payment of the Exercise Price must be made at
the time that the Option or any part thereof is exercised, and no shares may be issued or delivered upon exercise of an Option until full payment has been made by the Participant. 

(d)    Special Conditions as to Incentive Stock Options. Incentive Stock Options may only be granted
to employees of the Company or any Affiliate. At the time any Incentive Stock Option granted under the Plan is exercised, the Company will be entitled to legend the certificates representing the shares of Stock purchased pursuant to the Option to
clearly identify them as representing the shares purchased upon the exercise of an Incentive Stock Option. An Incentive Stock Option may only be granted within ten (10) years from the earlier of (i) the date the Plan is adopted or
(ii) the date the Plan is approved by the Company’s stockholders. 
 (e)    No Rights as a
Stockholder. The holder of an Option, as such, has none of the rights of a stockholder of the Company. 

(f)    Conditions to the Exercise of an Option. Subject to Section 6.1(e) hereof, each Option
granted under the Plan shall be exercisable by whom, at such time or times, or upon the occurrence of such event or events, and in such amounts, as the Committee determines in its sole discretion and specifies in the Stock Incentive Agreement.
Subsequent to the grant of an Option and at any time before complete termination of such Option, the Committee may modify the terms of such Option to the extent not prohibited by or inconsistent with the other terms of the Plan, including, without
limitation, accelerating the time or times at which such Option may be exercised in whole or in part, including, without limitation, upon a Change in Control (subject to the provisions of Section 6.9, if applicable), and may permit the
Participant or any other designated person to exercise the Option, or any portion thereof, for all or part of the remaining Option term, notwithstanding any provision of the Stock Incentive Agreement to the contrary. In no event, however, shall any
such modification adversely effect the rights of a Participant under such Option (except as otherwise permitted by the Plan). 

(g)    Termination of Incentive Stock Option. With respect to an Incentive Stock Option, in the
event of Termination of Employment of a Participant, the Option or portion thereof held by the Participant which is unexercised will expire, terminate, and become unexercisable no later than the expiration of three (3) months after the date of
Termination of Employment; provided, however, that in the case of a holder whose Termination of Employment is due to death or Disability, up to one (1) year may be 

  
 9 

 
substituted for such three (3) month period; provided, further that such time limits may be exceeded by the Committee under the terms of the grant, in which case, the Incentive Stock Option
will be a Non-Qualified Option if it is exercised after the time limits that would otherwise apply. For purposes of this Subsection (h) Termination of Employment of the Participant will not be deemed to have occurred if the Participant is
employed by another corporation (or a parent or subsidiary corporation of such other corporation) which has assumed the Incentive Stock Option of the Participant in a transaction to which Code Section 424(a) is applicable. 

(h)    Special Provisions for Certain Substitute Options. Notwithstanding anything to the contrary
in this Section 6.2, any Option issued in substitution for an option previously issued by another entity, which substitution occurs in connection with a transaction to which Code Section 424(a) is applicable, may provide for an exercise price
computed in accordance with such Code Section and the regulations thereunder and may contain such other terms and conditions as the Committee may prescribe to cause such substitute Option to contain as nearly as possible the same terms and
conditions (including the applicable vesting and termination provisions) as those contained in the previously issued option being replaced thereby. 

(i)    Reload Options. The Committee may specify in a Stock Incentive Agreement granting an Option
(or may otherwise determine in its sole discretion) that a Reload Option shall be granted, without further action of the Committee, (i) to a Participant who exercises an Option (including a Reload Option) by surrendering shares of Stock in
payment of amounts specified in Section 6.2(c) and for the payment of withholding taxes pursuant to Section 9.1 hereof, (ii) for the same number of shares as are surrendered to pay such amounts, (iii) as of the date of such
payment and at an Exercise Price equal to the Fair Market Value of the Stock on such date, and (iv) otherwise on the same terms and conditions as the Option whose exercise has occasioned such payment, except as provided below and subject to
such other contingencies, conditions, or other terms as the Committee shall specify at the time such exercised Option is granted; provided, that the shares surrendered in payment as provided above must have been held by the Participant for at least
six months prior to such surrender. Unless provided otherwise in the Stock Incentive Agreement, a Reload Option may not be exercised by a Participant (i) prior to the end of a one-year period from the date that the Reload Option is granted, and
(ii) unless the Participant retains beneficial ownership of the shares of Stock issued to such Participant upon exercise of the Option which resulted in the granting of the Reload Option for a period of one year from the date of such exercise.

 6.3    Terms and Conditions of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan
shall entitle the Participant to receive the excess of (1) the Fair Market Value of a specified or determinable number of shares of the Stock at the time of payment or exercise over (2) a specified or determinable price which may not be
less than the Fair Market Value of the Stock on the date of grant. A Stock Appreciation Right granted in connection with another Stock Incentive may only be exercised to the extent that the related Stock Incentive has 

  
 10 

 not been exercised, paid or otherwise settled. Each Stock Appreciation Right shall be subject to the
following terms and conditions: 
 (a)    Settlement. Upon settlement of a Stock Appreciation
Right, the Company must pay to the Participant the appreciation in cash or shares of Stock (valued at the aggregate Fair Market Value on the date of payment or exercise) as provided in the Stock Incentive Agreement or, in the absence of such
provision, as the Committee may determine. 
 (b)    Conditions to Exercise. The Committee may
impose such conditions and restrictions on the exercise of a Stock Appreciation Right as it may deem appropriate. Each Stock Appreciation Right granted under the Plan shall be exercisable or payable at such time or times, or upon the occurrence of
such event or events, and in such amounts as the Committee specifies in the Stock Incentive Agreement; provided, however, that the time or times or event or events must meet the requirements of Code Section 409A and the rulings, regulations and
other guidance issued thereunder as currently in effect or as may subsequently be amended from time to time, including the provisions for delayed distribution to certain key employees (as defined in Code Section 416(i)), if applicable; and
provided further the Committee may restrict the time of exercise to specific periods as may be necessary to satisfy the requirements of Rule 16b-3 as promulgated under the Exchange Act. 

(c)    No Repricing. Except as provided in Section 9.2, without the approval of the
Company’s stockholders the price of a Stock Appreciation Right may not be amended or modified after the grant of the Stock Appreciation Right, and a Stock Appreciation Right may not be surrendered in consideration of, or in exchange for, the
grant of a new Stock Appreciation Right having a price below that of the Stock Appreciation Right that was surrendered. 

6.4    Terms and Conditions of Restricted Stock Awards. Each Restricted Stock Award shall be made in such number of
shares of Stock, upon such terms and conditions on such shares, subject to such vesting conditions, for such restricted period and with such dividend or voting rights during such restricted period as the Committee determines, and shall be set out in
the Stock Incentive Agreement with respect to such award. Restricted Stock Awards shall be subject to the following provisions: 

(a)    Consideration. The Committee may require a payment from the Participant in an amount no
greater than the aggregate Fair Market value of the shares of Stock awarded determined at the date of grant in exchange for the grant of a Restricted Stock Award or may grant a Restricted Stock Award without any consideration from the Participant
other than his service to or on behalf of the Company or its Affiliates. 
 (b)    Escrow of
Shares. The shares of Stock subject to a Restricted Stock Award will be issued in the Participant’s name and will bear evidence of the restrictions and/or conditions on such shares. During the restricted period, such shares shall be held in
escrow as provided in Section 7.1 hereof. 

  
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 (c)    Vesting. Each Restricted Stock Award will
be subject to a “substantial risk of forfeiture” within the meaning of Code Section 83 and shall vest over a restricted period based upon the passage of time or upon the achievement of performance goals or a combination of both as
determined by the Committee, and subject to Section 6.1(d). If vesting is based only on the passage of time, the restriction may be removed ratably over such restricted period, on an annual basis, as determined by the Committee. A Restricted Stock
Award may also, in the Committee’s discretion, provide for earlier termination of the restricted period in the event of the retirement, death or Disability of the Participant, or in the event of a Change in Control. 

(d)    Rights as Stockholder. During the restricted period, the Participant shall have no rights as
a stockholder with respect to the shares of Stock subject to such Restricted Stock Award, except such dividend and voting rights as may be provided under the Stock Incentive Agreement, if any. The Award Agreement may require, in the discretion of
the Committee, that the dividends and other distributions on the Stock subject to the grant be distributed outright to the Participant or, alternatively, that such dividends or other distributions be deferred and subject to the same vesting and
forfeiture restrictions as apply to the Stock; provided, however, with respect to a Restricted Stock Award the vesting of which is based on the achievement of Performance Goals, the dividends and other distributions on the Stock subject to the grant
shall in all cases be deferred and payment thereof contingent on the Participant’s vesting in the Stock with respect to which such dividends and other distributions are paid. Notwithstanding the preceding, the deferral and payment of dividends
and other distributions on the Stock subject to a Restricted Stock Award shall be made in accordance with the requirements of Code Section 409A and the rulings, regulations and other guidance issued thereunder as currently in effect or as may
subsequently be amended from time to time. 
 6.5    Terms and Conditions of Dividend Equivalent Rights. A
Dividend Equivalent Right entitles the Participant to receive payments from the Company in an amount determined by reference to any cash dividends paid on a specified number of shares of Stock to Company stockholders of record during the period such
rights are effective. The Committee may impose such restrictions and conditions on any Dividend Equivalent Right as the Committee in its discretion shall determine, including the date any such right shall terminate, and may reserve the right to
terminate, amend or suspend any such right at any time. Each Dividend Equivalent Right shall be subject to the following terms and conditions: 

(a)    Payment. Payment in respect of a Dividend Equivalent Right may be made by the Company in cash
or shares of Stock (valued at Fair Market Value as of the date payment is owed) as provided in the Stock Incentive Agreement or, in the absence of such provision, as the Committee may determine. 

(b)    Conditions to Payment. Each Dividend Equivalent Right granted under the Plan shall be payable
at such time or times, or upon the occurrence of such event or events, and in such amounts, as the Committee specifies in the applicable Stock Incentive Agreement; provided, however, to the extent such Dividend Equivalent Right provides for the
deferral of compensation subject to the provisions of Code Section 409A, such 

  
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time or times or event or events of payment shall meet the distribution requirements of Code Section 409A and the rulings, regulations and other guidance issued thereunder as currently in
effect or as subsequently may be amended from time to time, including the provisions for delayed distribution to certain key employees (as defined in Code Section 416(i)), if applicable; and provided further the Committee may restrict the time of
exercise to specific periods as may be necessary to satisfy the requirements of Rule 16b-3 as promulgated under the Exchange Act. 

6.6    Terms and Conditions of Performance Unit Awards. A Performance Unit Award shall entitle the Participant to
receive, at a specified future date, payment of an amount equal to all or a portion of the value of a specified or determinable number of units (stated in terms of a designated or determinable dollar amount per unit) granted by the Committee. At the
time of the grant, the Committee must determine the base value of each unit, the number of units subject to a Performance Unit Award, and the performance goals applicable to the determination of the ultimate payment value of the Performance Unit
Award. The Committee may provide for an alternate base value for each unit under certain specified conditions. Each Performance Unit Award shall be subject to the following terms and conditions: 

(a)    Payment. Payment in respect of Performance Unit Awards may be made by the Company in cash or
shares of Stock (valued at Fair Market Value as of the date payment is owed) as provided in the applicable Stock Incentive Agreement or, in the absence of such provision, as the Committee may determine. 

(b)    Conditions to Payment. Each Performance Unit Award granted under the Plan shall be payable at
such time or times, or upon the occurrence of such event or events, and in such amounts, as the Committee may specify in the applicable Stock Incentive Agreement; provided, however, to the extent such Performance Unit Award provides for the deferral
of compensation subject to the provisions of Code Section 409A, such time or times or event or events of payment shall meet the distribution requirements of Code Section 409A and the rulings, regulations and other guidance issued
thereunder as currently in effect or as subsequently may be amended from time to time, including the provisions for delayed distribution to certain key employees (as defined in Code Section 416(i)), if applicable; and provided further the Committee
may restrict the time of exercise to specific periods as may be necessary to satisfy the requirements of Rule 16b-3 as promulgated under the Exchange Act. 

6.7    Terms and Conditions of Restricted Stock Units. Restricted Stock Units shall entitle the Participant to
receive, at a specified future date or event, payment of an amount equal to all or a portion of the Fair Market Value of a specified number of shares of Stock at the end of a specified period. At the time of the grant, the Committee will determine
the factors which will govern the portion of the Restricted Stock Units so payable, including, at the discretion of the Committee, any performance criteria that must be satisfied as a condition to payment. Restricted Stock Unit awards containing
performance criteria may be designated as Performance Unit Awards. Restricted Stock Unit awards shall be subject to the following terms and conditions: 

(a)    Payment. Payment in respect of Restricted Stock Units may be made by the Company in cash or
shares of Stock (valued at Fair Market Value as of the date payment is owed) as provided in the applicable Stock Incentive Agreement or, in the absence of such provision, as the Committee may determine. 

  
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 (b)    Conditions to Payment. Each Restricted
Stock Unit granted under the Plan shall be payable at such time or times, or upon the occurrence of such event or events, and in such amounts, as the Committee may specify in the applicable Stock Incentive Agreement; provided, however, to the extent
such Restricted Stock Unit provides for the deferral of compensation subject to the provisions of Code Section 409A, such time or times or event or events of payment shall meet the distribution requirements of Code Section 409A and the
rulings, regulations and other guidance issued thereunder as currently in effect or as subsequently may be amended from time to time, including the provisions for delayed distribution to certain key employees (as defined in Code Section 416(i)), if
applicable; and provided further the Committee may restrict the time of exercise to specific periods as may be necessary to satisfy the requirements of Rule 16b-3 as promulgated under the Exchange Act. 

6.8    Treatment of Awards Upon Termination of Employment. Except as otherwise provided by Sections 6.2(g) and 6.9,
any award under this Plan to a Participant who has experienced a Termination of Employment or termination of some other service relationship with the Company and its Affiliates may be cancelled, accelerated, paid or continued, as provided in the
applicable Stock Incentive Agreement, or, as the Committee may otherwise determine to the extent not prohibited by or inconsistent with the provisions of the Plan. The portion of any award exercisable in the event of continuation or the amount of
any payment due under a continued award may be adjusted by the Committee to reflect the Participant’s period of service with the Company and/or an Affiliate from the date of grant through the date of the Participant’s Termination of
Employment or other service relationship or such other factors as the Committee determines are relevant to its decision to continue the award. 

6.9    Deferred Compensation. Notwithstanding the Committee’s discretion to determine the terms and conditions
of each Stock Incentive under the Plan, with respect to each Stock Incentive granted under the Plan which provides for the deferral of compensation subject to the provisions of Code Section 409A, such terms and conditions, including, without
limitation, the period or time of, or event or events triggering, exercise or payment of such Stock Incentive, shall comply with the provisions and requirements of Code Section 409A and the rulings, regulations and other guidance issued thereunder
as currently in effect or as may subsequently be amended from time to time. Any authority granted to the Committee under the Plan to amend, modify, cancel, accelerate, continue or change in any way the terms and conditions of or a Participant’s
rights under a Stock Incentive subsequent to the date such Stock Incentive is granted under the Plan, shall be applicable to Stock Incentives which provide for the deferral of compensation only if, and to the extent provided in and allowable under
Code Section 409A and such rulings, regulations and guidance thereunder without resulting in adverse tax consequences to the Participant. 

  
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 ARTICLE VII 

RESTRICTIONS ON STOCK 

7.1    Escrow of Shares. Any certificates representing the shares of Stock issued under the Plan will be issued in
the Participant’s name, but, if the applicable Stock Incentive Agreement so provides, the shares of Stock will be held by the Company or by a custodian designated by the Committee (the “Custodian”). Each applicable Stock Incentive
Agreement providing for the transfer of shares of Stock to a Custodian must appoint the Custodian as the attorney-in-fact for the Participant for the term specified in the applicable Stock Incentive Agreement, with full power and authority in the
Participant’s name, place and stead to transfer, assign and convey to the Company any shares of Stock held by the Custodian for such Participant, if the Participant forfeits the shares under the terms of the applicable Stock Incentive
Agreement. Alternatively, the Stock Incentive Agreement may provide for the Participant simultaneously with the execution of the Stock Incentive Agreement, to deliver to the Company or the Custodian holding the Stock a stock power as to such Stock,
endorsed in blank. During the period that the Company or Custodian holds the shares subject to this Section, the Participant shall be entitled to all rights, except as provided in the applicable Stock Incentive Agreement, applicable to shares of
Stock not so held. Any dividends declared on shares of Stock held by the Company or Custodian must, as provided in the applicable Stock Incentive Agreement, be paid directly to the Participant or, in the alternative, be retained by the Custodian or
by the Company until the expiration of the term specified in the applicable Stock Incentive Agreement and shall then be delivered, together with any proceeds, with the shares of Stock to the Participant or to the Company, as applicable. 

7.2    Restrictions on Transfer. The Participant does not have the right to make or permit to exist any disposition
of the shares of Stock issued pursuant to the Plan except as provided in the Plan or the applicable Stock Incentive Agreement. Any disposition of the shares of Stock issued under the Plan by the Participant not made in accordance with the Plan or
the applicable Stock Incentive Agreement will be void. The Company will not recognize, or have the duty to recognize, any disposition not made in accordance with the Plan and the applicable Stock Incentive Agreement, and the shares so transferred
will continue to be bound by the Plan and the applicable Stock Incentive Agreement. 
 ARTICLE VIII 

TERMINATION AND AMENDMENT 

8.1    Termination and Amendment. The Board at any time may amend or terminate the Plan without stockholder
approval; provided, however, that the Board shall obtain stockholder approval for any amendment to the Plan that increases the number of shares of Stock available under the Plan, materially expands the classes of individuals eligible to receive
Stock Incentives, materially expands the type of awards available for issuance under the Plan, or would otherwise require stockholder approval under the rules of any applicable exchange or under the Code. 

8.2    Effect on Participants’ Rights. No such termination or amendment, without the consent of the holder of
a Stock Incentive, may adversely affect the rights of the Participant under such Stock Incentive. With respect to any Stock Incentive which provides for the deferral 

  
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of compensation subject to the provisions of Code Section 409A, no termination or amendment of the Plan shall have the effect of accelerating the payment of any benefit or otherwise
violating any provision of Section 409A and the rulings, regulations and other guidance thereunder as currently in effect or as may subsequently be amended from time to time. 

ARTICLE IX 
 GENERAL
PROVISIONS 
 9.1    Withholding. The Company shall deduct from all cash payments under the Plan any
taxes required to be withheld by federal, state or local government. Whenever the Company proposes or is required to issue or transfer shares of Stock under the Plan or upon the vesting of any Restricted Stock Award, the Company has the right to
require the recipient to remit to the Company an amount sufficient to satisfy any federal, state and local tax withholding requirements, as a condition of and prior to the delivery of any certificate or certificates for such shares or the vesting of
such Restricted Stock Award. A Participant may pay the withholding obligation in cash, or, if and to the extent the applicable Stock Incentive Agreement so provides, a Participant may elect to have the number of shares of Stock he is to receive
reduced by, or tender back to the Company, the smallest number of whole shares of Stock which, when multiplied by the Fair Market Value of the shares of Stock determined as of the date such withholding is required is sufficient to satisfy federal,
state and local, if any, withholding obligations arising from the exercise or payment of a Stock Incentive. If the Participant does not otherwise settle the withholding obligation by the time payment is to be made under the terms of the Stock
Incentive, the amount required to satisfy the federal, state and local withholding taxes shall be withheld by a reduction in the number of shares of Stock to be distributed under the Stock Incentive Award. 

9.2    Changes in Capitalization; Merger; Liquidation. 

(a)    The aggregate number of shares of Stock reserved for the grant of awards of Stock Incentives, for
issuance upon the exercise or payment, as applicable, of each outstanding Stock Incentive and upon vesting of a Stock Incentive; the Exercise Price of each outstanding Option; and the specified number of shares of Stock to which each outstanding
Stock Incentive pertains shall be proportionately adjusted for any increase or decrease in the number of issued shares of Stock resulting from a stock split, stock dividend, combination or exchange of shares, exchange for other securities,
reclassification, reorganization, recapitalization or any other increase or decrease in the number of outstanding shares of Stock effected without consideration to the Company. 

(b)    In the event of a merger, consolidation, reorganization, extraordinary dividend, spin-off, sale of
substantially all of the Company’s assets, other change in capital structure of the Company, or tender offer for shares of Stock, the Committee may make such adjustments with respect to awards and take such other action as it deems necessary or
appropriate, including, without limitation, the substitution of new awards, or the adjustment of outstanding awards, the acceleration of awards, the removal of restrictions on outstanding awards, or the termination of outstanding awards in exchange
for the cash value determined in good faith by the Committee of the vested and/or 

  
 16 

 
unvested portion of the award, all as may be provided in the applicable Stock Incentive Agreement or, if not expressly addressed therein, as the Committee subsequently may determine in its sole
discretion. Any adjustment pursuant to this Section 9.2 may provide, in the Committee’s discretion, for the elimination without payment therefor of any fractional shares that might otherwise become subject to any Stock Incentive, but,
except as set forth in this Section, may not otherwise diminish the then value of the Stock Incentive. Notwithstanding the foregoing, the Committee shall not have any of the foregoing powers with respect to a Stock Incentive which provides for the
deferral of compensation subject to Code Section 409A except in the event of a Change in Control, in which event such powers shall be exercised in accordance with the provisions of such Code Section 409A and the rulings, regulations and
other guidance issued thereunder as now in effect or as subsequently may be amended so as not to result in adverse tax consequences to any Participant under the provisions thereof. 

(c)    The existence of the Plan and the Stock Incentives granted pursuant to the Plan shall not affect in
any way the right or power of the Company to make or authorize any adjustment, reclassification, reorganization or other change in its capital or business structure, any merger or consolidation of the Company, any issue of debt or equity securities
having preferences or priorities as to the Stock or the rights thereof, the dissolution or liquidation of the Company, any sale or transfer of all or any part of its business or assets, or any other corporate act or proceeding. 

9.3    Compliance with Code. 

(a)    All Incentive Stock Options to be granted hereunder are intended to comply with Code Section 422,
and all provisions of the Plan and all Incentive Stock Options granted hereunder must be construed in such manner as to effectuate that intent. 

(b)    All Stock Incentives awarded under the Plan which provide for the deferral of compensation subject
to the provisions of Code Section 409A are intended to comply, and to be operated and administered in all respects in compliance, with the provisions of that Section and the rulings, regulations and other guidance issued thereunder as currently
in effect or as may subsequently be amended, and all provisions of the Stock Incentive Awards and of the Plan applicable thereto must be construed in a manner to effectuate that intent. In the event any provisions hereof or of a Stock Incentive
Agreement is deemed to violate the requirements of Code Section 409A and such guidance issued thereunder, such provision shall be void and of no effect. In the event subsequent regulations, Internal Revenue Service rulings or other pronouncements or
guidance interpreting or implementing the provisions of Code Section 409A affect any provisions hereof and/or the Stock Incentive Agreements, the Plan and/or the Stock Incentive Agreements shall be amended, as necessary, to comply with such
regulation, ruling or other pronouncement or guidance; and, until adoption of any such amendment, the provisions hereof shall be construed and interpreted, to the extent possible, to comply with the applicable provisions of such regulation, ruling
or other pronouncement or guidance as amended. 

  
 17 

 9.4    Right to Terminate Employment or Service. Nothing in the
Plan or in any Stock Incentive Agreement confers upon any Participant the right to continue as an officer, employee or director of the Company or any of its Affiliates or affects the right of the Company or any of its Affiliates to terminate the
Participant’s employment or services at any time. 
 9.5    Non-Alienation of Benefits. Other than as
provided herein, no benefit under the Plan may be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge; and any attempt to do so shall be void. No such benefit may, prior to receipt by the
Participant, be in any manner liable for or subject to the debts, contracts, liabilities, engagements or torts of the Participant. 

9.6    Restrictions on Delivery and Sale of Shares; Legends. Each Stock Incentive is subject to the condition that
if at any time the Committee, in its discretion, shall determine that the listing, registration or qualification of the shares covered by such Stock Incentive upon any securities exchange or under any state or federal law is necessary or desirable
as a condition of or in connection with the granting of such Stock Incentive or the purchase or delivery of shares thereunder, the delivery of any or all shares pursuant to such Stock Incentive may be withheld unless and until such listing,
registration or qualification shall have been effected. If a registration statement is not in effect under the Securities Act of 1933 or any applicable state securities laws with respect to the shares of Stock purchasable or otherwise deliverable
under Stock Incentives then outstanding, the Committee may require, as a condition of exercise of any Option or as a condition to any other delivery of Stock pursuant to a Stock Incentive, that the Participant or other recipient of a Stock Incentive
represent, in writing, that the shares received pursuant to the Stock Incentive are being acquired for investment and not with a view to distribution and agree that the Shares will not be disposed of except pursuant to an effective registration
statement, unless the Company shall have received an opinion of counsel that such disposition is exempt from such requirement under the Securities Act of 1933 and any applicable state securities laws. The Company may include on certificates
representing shares delivered pursuant to a Stock Incentive such legends referring to the foregoing representations or restrictions or any other applicable restrictions on resale as the Company, in its discretion, shall deem appropriate. 

9.7    Listing and Legal Compliance. The Committee may suspend the exercise or payment of any Stock Incentive so
long as it determines that securities exchange listing or registration or qualification under any securities laws is required in connection therewith and has not been completed on terms acceptable to the Committee. 

9.8    Stockholder Approval. The Plan must be submitted to the stockholders of the Company for their approval
within twelve (12) months before or after the adoption of the Plan by the Board of the Company. If such approval is not obtained, any Stock Incentive granted hereunder will be void. 

9.9    Choice of Law. The laws of the State of Mississippi shall govern the Plan, to the extent not preempted by
federal law, without reference to the principles of conflict of laws. 

  
 18 

 9.10    Plan Binding on Successors. The Plan shall be binding
upon the successors and assigns of the Company. 
 9.11    Singular, Plural; Gender. Whenever used herein, nouns
in the singular shall include the plural, and the masculine pronoun shall include the feminine gender. 

9.12    Headings, etc., No Part of Plan. Headings of Articles and Sections hereof are inserted for convenience and
reference; they do not constitute part of the Plan. 
 IN WITNESS WHEREOF, the Company has executed this Plan this the 20th day of March, 2018. 
  

			
	BANCPLUS CORPORATION
		
	By:	 	 /s/ William A. Ray

	Title:	 	President & CEO

  
 19

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