Document:

Logitech Inc. Deferred Compensation Plan effective January 1, 2009

 Exhibit 10.1 
 LOGITECH INC. 
 DEFERRED COMPENSATION PLAN 
 Effective January 1, 2009 

 TABLE OF CONTENTS 
  

					
	 ARTICLE 1
	  	 DEFINITIONS
	  	1
			
	 ARTICLE 2
	  	 SELECTION, ENROLLMENT, ELIGIBILITY
	  	4
	 2.1
	  	 Selection by Committee
	  	4
	 2.2
	  	 Enrollment and Eligibility Requirements; Commencement of Participation
	  	4
			
	 ARTICLE 3
	  	 DEFERRAL COMMITMENTS/COMPANY CONTRIBUTION AMOUNTS/ COMPANY MATCHING AMOUNTS/ VESTING/CREDITING/TAXES
	  	5
	 3.1
	  	 Annual Deferral Amount
	  	5
	 3.2
	  	 Maximum Deferral
	  	5
	 3.3
	  	 Election to Defer; Effect of Election Form
	  	6
	 3.4
	  	 Withholding and Crediting of Annual Deferral Amounts
	  	6
	 3.5
	  	 Company Matching Amount
	  	6
	 3.6
	  	 Discretionary Company Contribution Amount
	  	6
	 3.7
	  	 Crediting of Amounts after Benefit Distribution
	  	7
	 3.8
	  	 Vesting
	  	7
	 3.9
	  	 Crediting/Debiting of Account Balances
	  	7
	 3.10
	  	 FICA and Other Taxes
	  	8
			
	 ARTICLE 4
	  	 SCHEDULE DISTRIBUTION; UNFORESEEABLE EMERGENCIES
	  	8
	 4.1
	  	 Scheduled Distribution
	  	8
	 4.2
	  	 Postponing Scheduled Distributions
	  	9
	 4.3
	  	 Other Benefits Take Precedence Over Scheduled Distributions
	  	9
	 4.4
	  	 Unforeseeable Emergencies
	  	9
			
	 ARTICLE 5
	  	 TERMINATION BENEFIT
	  	10
	 5.1
	  	 Termination Benefit
	  	10
	 5.2
	  	 Payment of Termination Benefit
	  	10
			
	 ARTICLE 6
	  	 DISABILITY BENEFIT
	  	11
	 6.1
	  	 Disability Benefit
	  	11
	 6.2
	  	 Payment of Disability Benefit
	  	11
			
	 ARTICLE 7
	  	 DEATH BENEFIT
	  	11
	 7.1
	  	 Death Benefit
	  	11
	 7.2
	  	 Payment of Death Benefit
	  	11
			
	 ARTICLE 8
	  	 BENEFICIARY DESIGNATION
	  	11
	 8.1
	  	 Beneficiary
	  	11
	 8.2
	  	 Beneficiary Designation; Change; Spousal Consent
	  	12
	 8.3
	  	 Acknowledgment
	  	12
	 8.4
	  	 No Beneficiary Designation
	  	12
	 8.5
	  	 Doubt as to Beneficiary
	  	12
	 8.6
	  	 Discharge of Obligations
	  	12
			
	 ARTICLE 9
	  	 LEAVE OF ABSENCE
	  	12
	 9.1
	  	 Paid Leave of Absence
	  	12
	 9.2
	  	 Unpaid Leave of Absence
	  	12
	 9.3
	  	 Leaves Resulting in Separation From Service
	  	13
			
	 ARTICLE 10
	  	 TERMINATION OF PLAN, AMENDMENT OR MODIFICATION
	  	13
	 10.1
	  	 Termination of Plan
	  	13
	 10.2
	  	 Amendment
	  	13
	 10.3
	  	 Effect of Payment
	  	13

  

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	 ARTICLE 11
	  	 ADMINISTRATION
	  	13
	 11.1
	  	 Duties
	  	13
	 11.2
	  	 Agents
	  	13
	 11.3
	  	 Binding Effect of Decisions
	  	14
	 11.4
	  	 Indemnity of Committee
	  	14
	 11.5
	  	 Employer Information
	  	14
			
	 ARTICLE 12
	  	 OTHER BENEFITS AND AGREEMENTS
	  	14
	 12.1
	  	 Coordination with Other Benefits
	  	14
			
	 ARTICLE 13
	  	 CLAIMS PROCEDURES
	  	14
	 13.1
	  	 Presentation of Claim
	  	14
	 13.2
	  	 Notification of Decision
	  	14
	 13.3
	  	 Review of a Denied Claim
	  	15
	 13.4
	  	 Decision on Review
	  	15
	 13.5
	  	 Legal Action
	  	16
			
	 ARTICLE 14
	  	 MISCELLANEOUS
	  	16
	 14.1
	  	 Status of Plan
	  	16
	 14.2
	  	 Unsecured General Creditor
	  	16
	 14.3
	  	 Employer’s Liability
	  	16
	 14.4
	  	 Nonassignability
	  	16
	 14.5
	  	 Not a Contract of Employment
	  	17
	 14.6
	  	 Furnishing Information
	  	17
	 14.7
	  	 Terms
	  	17
	 14.8
	  	 Captions
	  	17
	 14.9
	  	 Governing Law
	  	17
	 14.10
	  	 Notice
	  	17
	 14.11
	  	 Successors
	  	17
	 14.12
	  	 Spouse’s Interest
	  	17
	 14.13
	  	 Validity
	  	18
	 14.14
	  	 Incompetent
	  	18
	 14.15
	  	 Court Order
	  	18
	 14.16
	  	 Distribution in the Event of Income Inclusion under Code Section 409A
	  	18
	 14.17
	  	 Deduction Limitation on Benefit Payments
	  	18

  

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 LOGITECH INC. 
 DEFERRED COMPENSATION PLAN 
 Effective January 1, 2009 
 Purpose  
 The purpose of this
Logitech Inc. Deferred Compensation Plan is to provide specified benefits to a select group of management or highly compensated Employees who contribute materially to the continued growth, development and future business success of Logitech Inc., a
California corporation, and its subsidiaries, if any, that participate in this Plan. This Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. This Plan is intended to comply with all applicable law, including Code
Section 409A, and shall be operated and interpreted in accordance with this intention. 
 This Plan is effective as of January 1,
2009, for the Plan Year January 1, 2009 to December 31, 2009, and for subsequent Plan Years, until terminated. 
 ARTICLE 1 

 Definitions  
 For purposes of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings: 
 1.1 “Account Balance” shall mean, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance and (ii) the Company Contributions Account balance. The
Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan. 
 1.2 “Annual Deferral Amount” shall mean that portion of a Participant’s Base Salary, Bonus and Commissions that a Participant defers in accordance
with Article 3 for any one Plan Year. 
 1.3 “Base Salary” shall mean the annual cash compensation relating to services performed
during any calendar year, excluding distributions from nonqualified deferred compensation plans, Bonuses, Commissions, overtime, fringe benefits, stock options and other equity awards, relocation expenses, incentive payments, non-monetary awards,
and automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Salary shall be calculated before reduction for compensation
voluntarily deferred or contributed by the Participant pursuant to all qualified or nonqualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125,
132, 402(e)(3), 402(h), or 403(b) pursuant to plans or arrangements established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that had there been no such plan, the amount would have
been payable in cash to the Employee. Notwithstanding anything in this Plan to the contrary, “Base Salary” shall not include any amount paid pursuant to a disability plan or pursuant to a disability insurance policy. 
 1.4 “Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 8, that are entitled to
receive benefits under this Plan upon the death of a Participant. 
  

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 1.5 “Beneficiary Designation Form” shall mean the form, which may be in electronic format, that a
Participant completes to designate one or more Beneficiaries in accordance with such procedures established by the Company. 
 1.6 “Benefit
Distribution Date” shall mean the date that the distribution of all or a portion of a Participant’s vested Account Balance becomes payable under the Plan. A Participant’s Benefit Distribution Date shall be determined based on the
event giving rise to the distribution as more fully described in Articles 4 through 7. 
 1.7 “Board” shall mean the board of directors
of the Company. 
 1.8 “Bonus” shall mean any compensation, earned and payable to a Participant under any incentive pay program other than
those programs designated by the Company as ineligible for deferral under the Plan. 
 1.9 “Claimant” shall have the meaning set forth in
Section 13.1. 
 1.10 “Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to time. The definition of
“Code” shall also include related guidance, rules and regulations issued by the U.S. Department of the Treasury and Internal Revenue Service thereunder. 
 1.11 “Commissions” shall mean pay other than Base Pay or Bonuses which is designated as commission payments under an Employer’s payroll systems. 
 1.12 “Committee” shall mean the Company’s 401(k) Plan Administration Committee. 
 1.13
“Company” shall mean Logitech Inc., a California corporation, and any successor to all or substantially all of the Company’s assets or business. 
 1.14 “Company Contributions Account” shall mean (i) the sum of all of a Participant’s Company Matching Amounts, plus (ii) the sum of all Discretionary Company Contributions, plus
(iii) amounts credited or debited to the Participant’s Company Contributions Account in accordance with this Plan, less (iv) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the
Participant’s Company Contributions Account. 
 1.15 “Company Matching Amount” shall mean, for any one Plan Year, the amount determined
in accordance with Section 3.5. 
 1.16 “Controlled Group” means each Employer and each other entity that is included in the definition
of “service recipient” set forth in the regulations under Section 409A of the Code. 
 1.17 “Death Benefit” shall mean the
benefit set forth in Article 7. 
 1.18 “Deferral Account” shall mean (i) the sum of all of a Participant’s Annual Deferral
Amounts, plus (ii) amounts credited or debited to the Participant’s Deferral Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his
or her Deferral Account. 
 1.19 “Disability” or “Disabled” shall have the meaning set forth in Code Section 409A.

 1.20 “Disability Benefit” shall mean the benefit set forth in Article 6. 
  

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 1.21 “Discretionary Company Contribution Amount” shall mean, for any one Plan Year, the amount
determined in accordance with Section 3.6. 
 1.22 “Effective Date” shall mean January 1, 2009. 
 1.23 “Election Form” shall mean the form, which may be in electronic format, that a Participant completes in accordance with such procedures established
by the Company. 
 1.24 “Employee” shall mean a person who is an employee of any Employer. 
 1.25 “Employer(s)” shall mean the Company and/or any of its subsidiaries (now in existence or hereafter formed or acquired) that have been selected by
the Committee to participate in the Plan and have adopted the Plan as a participating Employer. 
 1.26 “ERISA” shall mean the Employee
Retirement Income Security Act of 1974, as it may be amended from time to time. 
 1.27 “401(k) Plan” shall mean, with respect to an
Employer, a plan qualified under Code Section 401(a) that contains a cash or deferral arrangement described in Code Section 401(k), adopted by the Employer, as it may be amended from time to time, or any successor thereto. 
 1.28 “Installment Method” shall be an installment payment over the number of years selected by the Participant in accordance with this Plan. Such
amounts shall be paid in quarterly, semi-annual or annual payments (over a period not to exceed ten (10) years). The amount of each installment shall be calculated by dividing the amount then subject to the installment payment by the number of
installments then remaining to be made. The amount subject to installment payments that has not yet been paid shall continue to be credited/debited with additional amounts in accordance with Section 3.9. For purposes of this Plan, the right to
receive benefit payments in installment payments shall be treated as the entitlement to a single payment. 
 1.29 “Participant” shall mean
any Employee who is on the United States payroll of an Employer and (i) who is selected to participate in the Plan, (ii) who submits an executed Plan Agreement and Election Form, and (iii) whose Plan Agreement has not terminated.

 1.30 “Plan” shall mean the Logitech Inc. Deferred Compensation Plan, which shall be evidenced by this instrument and by each Plan
Agreement, as they may be amended from time to time. 
 1.31 “Plan Agreement” shall mean a written agreement, as may be amended from time to
time, which is entered into by and between an Employer and a Participant. Each Plan Agreement executed by a Participant and the Participant’s Employer shall provide for the entire benefit to which such Participant is entitled under the Plan;
should there be more than one Plan Agreement, the Plan Agreement bearing the latest date of acceptance by the Employer shall supersede all previous Plan Agreements in their entirety and shall govern such entitlement. The terms of any Plan Agreement
may be different for any Participant, and any Plan Agreement may provide additional benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan; provided, however, that any such additional benefits or benefit
limitations must be agreed to by both the Employer and the Participant. 
 1.32 “Plan Year” shall mean a period beginning on January 1
of each calendar year and continuing through December 31 of such calendar year. 
  

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 1.33 “Scheduled Distribution” shall mean the distribution set forth in Section 4.1. 
 1.34 “Termination Benefit” shall mean the benefit set forth in Article 5 which shall be paid following a Participant’s Termination of
Employment. 
 1.35 “Termination of Employment” shall mean a “separation from service” with all members of the Controlled Group,
voluntarily or involuntarily, for any reason other than Disability or death, as determined in accordance with Code Section 409A. 
 1.36
“Unforeseeable Emergency” shall mean a severe financial hardship of the Participant or his or her Beneficiary resulting from (i) an illness or accident of the Participant or Beneficiary, the Participant’s or
Beneficiary’s spouse, or the Participant’s or Beneficiary’s dependent (as defined in Code Section 152(a)), (ii) a loss of the Participant’s or Beneficiary’s property due to casualty, or (iii) such other
similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant or the Participant’s Beneficiary. 
 ARTICLE 2 
 Selection, Enrollment, Eligibility  
 2.1 Selection by Committee. Participation in the Plan shall be limited to a select group of management or highly compensated Employees. From that group,
the Committee shall select, in its sole discretion, those individuals who may actually participate in this Plan. 
 2.2 Enrollment and Eligibility
Requirements; Commencement of Participation. As a condition to participation, except as provided in Sections 2.2(b) and 2.2(c) below, each selected Employee who is eligible to participate in the Plan effective as of the first day of a Plan
Year shall complete a Plan Agreement and an Election Form, prior to the first day of such Plan Year, or such other earlier deadline as may be established by the Committee in its sole discretion. 
 (a) Each selected Employee who is eligible to participate in the Plan shall commence participation in the Plan on the date that the Employee has met all
enrollment requirements set forth in this Plan and required by the Committee, including completing all required documents within the specified time period(s). 
 (b) A newly hired Employee who is selected to participate in the Plan who first becomes a Participant after the beginning of a Plan Year must complete a Plan Agreement and an Election Form within thirty (30) days
after he or she first becomes eligible to participate in the Plan, or within such other earlier deadline as may be established by the Company, in its sole discretion, in order to participate for that Plan Year. In such event, such person’s
participation in this Plan shall not commence earlier than the date determined by the Committee pursuant to Section 2.2(a) and such person shall not be permitted to defer under this Plan any portion of his or her Base Salary or Commissions that
are paid with respect to services performed prior to his or her participation commencement date, except to the extent permissible under Code Section 409A. Section 3.2(b) shall apply to Bonuses for performance periods that commence within
the first Plan Year in which such person is eligible to participate. 
 (c) A newly eligible Employee who is selected to participate in the
Plan as a result of a promotion, or other change in employment status resulting in the individual first being eligible to participate in the Plan after the beginning of a Plan Year, must complete a Plan Agreement and an Election Form within thirty
(30) days after he or she first becomes eligible to participate in the Plan, or within such other earlier deadline as may be established by the Company, in its sole discretion, in order to 

  

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participate for that Plan Year. In such event, such person’s participation in this Plan shall not commence earlier than the date determined by the
Company pursuant to Section 2.2(a) and such person shall not be permitted to defer under this Plan any portion of his or her Base Salary or Commissions that are paid with respect to services performed prior to his or her participation
commencement date, except to the extent permissible under Code Section 409A. Section 3.2(b) shall apply to Bonuses for performance periods that commence within the first Plan Year in which such person is eligible to participate.

 (d) If an Employee fails to meet all requirements contained in this Section 2.2 within the period(s) required, that Employee shall
not be eligible to participate in the Plan during such Plan Year. 
 ARTICLE 3 
 Deferral Commitments/Company Contribution Amounts/  
 Company
Matching Amounts/ Vesting/Crediting/Taxes 
 3.1 Annual Deferral Amount. For each Plan Year, a Participant may elect to defer as his or
her Annual Deferral Amount, Base Salary, Bonus and/or Commissions pursuant to such rules as may be established by the Committee in accordance with Code Section 409A. Such Annual Deferral Amount may be subject to a minimum deferral amount
established by the Committee. 
 3.2 Maximum Deferral. 
 (a) Annual Deferral Amount. For each Plan Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Base Salary, Bonus and/or Commissions, pursuant to such rules as may be established
by the Committee, up to the following maximum percentages for each deferral elected: 
  

				
	 Deferral
	  	Maximum Percentage	 
	 Base Salary
	  	80	%
	 Bonus
	  	90	%
	 Commissions
	  	90	%

 However, no election shall be effective to reduce the compensation paid to a Participant for a Plan Year to an
amount that is less than the amount necessary to pay applicable employment taxes (e.g., FICA, hospital insurance, SDI) payable with respect to amounts deferred under this Plan, amounts necessary to satisfy any other benefit plan withholding
obligations, any resulting income taxes payable with respect to compensation that cannot be so deferred, and any amounts necessary to satisfy any wage garnishment or similar type obligations. 
 (b) Short Plan Year. Notwithstanding the provisions of paragraph (a) above, if a Participant first becomes a Participant after the
first day of a Plan Year, the maximum Annual Deferral Amount shall be limited to the amount of compensation not yet earned by the Participant as of the date the Participant submits a Plan Agreement and Election Form, except to the extent permissible
under Code Section 409A. Solely to the extent required under Code Section 409A, with respect to a Bonus that is earned based upon the fiscal year of the Company or another specified performance period, the deferral election of a
Participant who first becomes a Participant after the first day of a Plan Year will apply to the portion of such Bonus that is equal to (i) the total amount of such Bonus for the performance period, multiplied by (ii) a fraction, the
numerator of which is the number of days remaining in the performance period after the Participant’s deferral election is made, and the denominator of which is the total number of days in the performance period. 
  

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 3.3 Election to Defer; Effect of Election Form. 
 (a) Initial Plan Year. In connection with a Participant’s commencement of participation in the Plan, the Participant shall make an
irrevocable deferral election for the Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Company deems necessary or desirable under the Plan. For these elections to be valid, the Election
Form must be completed by the Participant, in accordance with Section 2.2 above. 
 (b) General Timing Rule for Deferral Elections in Subsequent Plan Years. For each succeeding Plan Year, a Participant may elect to defer Base Salary, Bonus and Commissions, and make such other elections as the Committee deems
necessary or desirable under the Plan by timely completing a new Election Form, in accordance with the Company’s rules and procedures, before December 31st preceding the Plan Year in which such compensation is earned, or before such other deadline established in accordance with the requirements of Code Section 409A. In the case of Bonuses, a deferral election shall
only apply to Bonuses paid for performance periods commencing within the Plan Year to which such deferral election applies. Any deferral election(s) made in accordance with this Section 3.3(b) shall be irrevocable; provided, however, that if
the Company permits Participants to make deferral elections for “Performance-Based Compensation” (as defined in paragraph (c) below) by the deadline(s) described above, it may, in its sole discretion, and in accordance with Code
Section 409A, permit a Participant to subsequently change his or her deferral election for such compensation by submitting an Election Form no later than the deadline established by the Company pursuant to Section 3.3(c) below. 

(c) Performance-Based Compensation. Notwithstanding the provisions of paragraph (a) and (b) above, with respect to Bonus compensation that
also qualifies as “Performance-Based Compensation,” the Company may, in its sole discretion, permit an irrevocable deferral election pertaining to such Performance-Based Compensation to be made by timely delivering an Election Form to the
Company, in accordance with its rules and procedures, no later than six (6) months before the end of the performance service period and in accordance with Code Section 409A. For this purpose, “Performance-Based Compensation”
shall be compensation, the payment or amount of which is contingent on pre-established organizational or individual performance criteria, which satisfies the requirements of Code Section 409A. 
 3.4 Withholding and Crediting of Annual Deferral Amounts. For each Plan Year, the Base Salary portion of the Annual Deferral Amount shall be withheld from
each regularly scheduled Base Salary payroll in equal amounts, as adjusted from time to time for increases and decreases in Base Salary. The Bonus and Commissions portion of the Annual Deferral Amount shall be withheld at the time the Bonus and
Commissions would be paid to the Participant, whether or not this occurs during the Plan Year itself. Annual Deferral Amounts shall be credited to a Participant’s Deferral Account. 
 3.5 Company Matching Amount. A Participant’s Company Matching Amount (if any) for any Plan Year shall be an amount determined by the Committee, in its sole discretion, based on the amount of
deferrals to this Plan and credited to a Participant. The amount (if any) credited to a Participant under this Plan for any Plan Year may be smaller or larger than the amount credited to any other Participant. 
 3.6 Discretionary Company Contribution Amount. A Participant’s Discretionary Company Contribution Amount (if any) for any Plan Year shall be an amount
determined by the Committee, in its sole discretion and credited to a Participant. The amount (if any) credited to a Participant under this Plan for any Plan Year may be smaller or larger than the amount credited to any other Participant.

  

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 3.7 Crediting of Amounts after Benefit Distribution. Subject to the requirements of Section 409A of
the Code and notwithstanding any provision in this Plan to the contrary, should the complete distribution of a Participant’s vested Account Balance occur prior to the date on which any portion of (i) the Annual Deferral Amount that a
Participant has elected to defer in accordance with Section 3.3, (ii) the Company Matching Amount (if any) or (iii) the Discretionary Company Contribution Amount (if any), would otherwise be credited to the Participant’s Account
Balance, such amounts shall not be credited to the Participant’s Account Balance, but shall be paid to the Participant. 
 3.8 Vesting. A
Participant shall at all times be 100% vested in his or her Account Balance unless otherwise specified in the Participant’s Plan Agreement, employment agreement or any other agreement entered into between the Participant and his or her
Employer, or specified at the time the Committee determines to make a Company Matching Amount or a Discretionary Company Contribution Amount pursuant to Sections 3.5 and 3.6. 
 3.9 Crediting/Debiting of Account Balances. In accordance with, and subject to, the rules and procedures that are established from time to time by the Committee, amounts shall be credited or debited to a
Participant’s Account Balance in accordance with the following rules: 
 (a) Measurement Funds. The Participant may elect
one or more of the measurement funds selected by the Committee, (the “Measurement Funds”) for the purpose of crediting or debiting additional amounts to his or her Account Balance. As necessary, the Committee may, in its sole
discretion, discontinue, substitute or add a Measurement Fund. 
 (b) Election of Measurement Funds. A Participant, in
connection with his or her initial deferral election in accordance with Section 3.3(a) above, shall elect, on the Election Form, one or more Measurement Fund(s) (as described in Section 3.9(a) above) to be used to determine the amounts to
be credited or debited to his or her Account Balance. If a Participant does not elect any of the Measurement Funds as described in the previous sentence, the Participant’s Account Balance shall be allocated into the Measurement Fund(s), as
determined by the Committee, in its sole discretion. The Participant may (but is not required to) elect, by completing an Election Form in accordance with such rules and procedures established by the Committee, to add or delete one or more
Measurement Fund(s) to be used to determine the amounts to be credited or debited to his or her Account Balance, or to change the portion of his or her Account Balance allocated to each previously or newly elected Measurement Fund. If an election is
made in accordance with the previous sentence, it shall apply as of the first business day deemed reasonably practicable by the Committee, in its sole discretion, and shall continue thereafter for each subsequent day in which the Participant
participates in the Plan, unless changed in accordance with the previous sentence. Notwithstanding the foregoing, the Committee, in its sole discretion, may impose limitations on the frequency with which one or more of the Measurement Funds elected
in accordance with this Section may be added or deleted by such Participant; furthermore, the Committee, in its sole discretion, may impose limitations on the frequency with which the Participant may change the portion of his or her Account Balance
allocated to each previously or newly elected Measurement Fund. 
 (c) Proportionate Allocation. In making any election
described in Section 3.9(b) above, the Participant shall specify on the Election Form, in increments of one percent (1%), the percentage of his or her Account Balance or Measurement Fund, as applicable, to be allocated/reallocated. 

(d) Crediting or Debiting Method. The performance of each Measurement Fund (either positive or negative) will be determined on a daily
basis based on the manner in which such Participant’s Account Balance has been hypothetically allocated among the Measurement Funds by the Participant. 
  

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 (e) No Actual Investment. Notwithstanding any other provision of this Plan that may be
interpreted to the contrary, the Measurement Funds are to be used for measurement purposes only, and a Participant’s election of any such Measurement Fund, the allocation of his or her Account Balance thereto, the calculation of additional
amounts and the crediting or debiting of such amounts to a Participant’s Account Balance shall not be considered or construed in any manner as an actual investment of his or her Account Balance in any such Measurement Fund. In the event
that the Company in its own discretion decides to invest funds in any or all of the investments on which the Measurement Funds are based, no Participant shall have any rights in or to such investments themselves. Without limiting the foregoing, a
Participant’s Account Balance shall at all times be a bookkeeping entry only and shall not represent any investment made on his or her behalf by the Company; the Participant shall at all times remain an unsecured creditor of the Company.

 3.10 FICA and Other Taxes. 
 (a) Annual Deferrals, Company Matching Amounts and Discretionary Company Contribution Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant or the amount of any Company Matching
Amount or Company Discretionary Contribution Amount credited to a Participant’s Company Contributions Account becomes vested, the Participant’s Employer(s) shall withhold from that portion of the Participant’s Base Salary, Bonus
and/or Commissions, that is not being deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment taxes on such Annual Deferral Amount, Company Matching Amount and Discretionary Company Contribution
Amount. If necessary, the Participant’s Annual Deferral Amount or the Participant’s Company Contributions Account, as applicable, may be reduced to pay such taxes (and associated income tax withholdings) in accordance with Code
Section 409A. 
 (b) Distributions. The Participant’s Employer(s) shall withhold from any payments made to a
Participant under this Plan (including payments, if any, made pursuant to Section 14.16) all federal, state and local income, employment and other taxes required to be withheld by the Employer(s) in connection with such payments, in amounts and
in a manner to be determined in the sole discretion of the Employer(s). 
 (c) Income Inclusion Under Code Section 409A.
In the event that any portion of a Participant’s Account is required to be included in income by the Participant prior to receipt of any distribution under this Plan resulting from a violation of the requirements of Code Section 409A, the
Participant’s Employer shall withhold from such Participant all federal, state and local income, employment and other taxes required to be withheld by the Employer in connection with such income inclusion in amounts and in a manner determined
in the sole discretion of the Employer. 
 ARTICLE 4 
 Scheduled Distribution; Unforeseeable Emergencies  
 4.1 Scheduled Distribution. At the same
time that a Participant makes each election to defer an Annual Deferral Amount, the Participant may elect to receive a Scheduled Distribution, in the form of a lump sum payment, from the Plan with respect to all or a portion of the Annual Deferral
Amount. The Scheduled Distribution shall be a lump sum payment in an amount that is equal to the portion of the Annual Deferral Amount the Participant elected to have distributed as a Scheduled Distribution, plus amounts credited or debited in the
manner provided in Section 3.9 above on that amount, calculated as of 

  

 - 8 - 

 
the close of business on or around the date on which the Scheduled Distribution becomes payable. Subject to the other terms and conditions of this Plan, the
Benefit Distribution Date for each Scheduled Distribution elected shall be January 31 of the Plan Year designated by the Participant. The Plan Year designated by the Participant must be at least two (2) Plan Years after the end of the Plan
Year to which the Participant’s deferral election described in Section 3.3 relates, unless otherwise provided on an Election Form approved by the Committee in its sole discretion. By way of example, if a Scheduled Distribution is elected
for Annual Deferral Amounts that are earned in the Plan Year commencing January 1, 2009, the earliest Scheduled Distribution Date that may be designated by a Participant would be January 31, 2012. In connection with any Company Matching
Amount or Discretionary Company Contribution made with respect to any Plan Year, any election made by a Participant pursuant to this Section should also apply to these amounts. Notwithstanding the foregoing sentence, the Committee may establish
other procedures, consistent with Code Section 409A, for distribution elections pertaining to Company Matching Amounts and Discretionary Company Contribution Amounts. 
 4.2 Postponing Scheduled Distributions. A Participant may elect to postpone a Scheduled Distribution described in Section 4.1 above, and have such amount paid out on an allowable alternative
distribution date designated by the Participant in accordance with this Section 4.2. In order to make this election, the Participant must complete a new Scheduled Distribution Election Form in accordance with such rules and procedures as the
Company may establish and in accordance with the following criteria: 
 (a) Such Scheduled Distribution Election Form must be completed at
least twelve (12) months prior to the Participant’s previously designated Scheduled Distribution Date; 
 (b) The new Scheduled
Distribution Date selected by the Participant must be at least five (5) years after the previously designated Scheduled Distribution Date; and 
 (c) The election of the new Scheduled Distribution Date shall have no effect until at least twelve (12) months after the date on which the election is made. 
 4.3 Other Benefits Take Precedence Over Scheduled Distributions. Should a Benefit Distribution Date occur that triggers a benefit under Articles 5, 6 or 7, any amount that is subject to a Scheduled
Distribution election under Section 4.1 shall not be paid in accordance with Section 4.1, but shall be paid in accordance with the other applicable Article. Notwithstanding the foregoing, this Section 4.3 shall be interpreted in a
manner that is consistent with Code Section 409A. 
 4.4 Unforeseeable Emergencies. 
 (a) If the Participant experiences an Unforeseeable Emergency, the Participant may petition the Committee to receive a partial or full payout from the
Plan, subject to the provisions set forth below. 
 (b) The payout, if any, from the Plan shall not exceed the lesser of (i) the
Participant’s vested Account Balance, calculated as of the close of business on or around the date on which the amount becomes payable, or (ii) the amount necessary to satisfy the Unforeseeable Emergency, plus amounts necessary to pay
Federal, state, or local income taxes or penalties reasonably anticipated as a result of the distribution. Notwithstanding the foregoing, a Participant may not receive a payout from the Plan to the extent that the Unforeseeable Emergency would not
be consistent with Code Section 409A. 
 (c) If a Participant’s petition for payout from the Plan is approved, the
Participant’s Benefit Distribution Date shall occur within thirty (30) days after the beginning of the calendar quarter following the date of such approval (or at such later time permitted under Code Section 409A) and all of the
Participant’s existing deferral elections under the Plan shall be terminated as of the date of such approval. The Participant thereafter may make new deferral elections pursuant to Section 3.3(b). 
  

 - 9 - 

 (d) In addition, a Participant’s deferral elections under this Plan shall be terminated to the
extent the Committee determines, in its sole discretion, that termination of such Participant’s deferral elections is required pursuant to Treas. Reg. §1.401(k)-1(d)(3) for the Participant to obtain a hardship distribution from an
Employer’s 401(k) Plan. If the Committee determines, in its sole discretion, that a termination of the Participant’s deferrals is required in accordance with the preceding sentence, the Participant’s deferrals shall be terminated
following the date on which such determination is made. 
 ARTICLE 5 
 Termination Benefit  
 5.1 Termination Benefit. A Participant who incurs a
Termination of Employment shall receive, as a Termination Benefit of his or her entire vested Account Balance calculated as of the close of business on or around the Participant’s Benefit Distribution Date(s), in accordance with the provisions
set forth in Section 5.2. 
 5.2 Payment of Termination Benefit. 
 (a) At the same time that a Participant makes each election to defer an Annual Deferral Amount, the Participant may elect to receive the Termination
Benefit in a lump sum or pursuant to an Installment Method of up to ten (10) years. The Participant shall elect a Benefit Distribution Date consistent with Section 5.2(b). In connection with any Company Matching Amount or Discretionary
Company Contribution made with respect to any Plan Year, any election made by a Participant pursuant to this Section 5.2 shall also apply to these amounts. Notwithstanding the foregoing sentence, the Committee may establish other procedures,
consistent with Code Section 409A, for distribution elections pertaining to Company Matching Amounts and Discretionary Company Contribution Amounts. If a Participant does not make any election with respect to the payment of the Termination
Benefit, then such Participant shall be deemed to have elected to receive the Termination Benefit in a lump sum on the Benefit Distribution Date described in Section 5.2(b)(i). 
 (b) The following Benefit Distribution Dates may be selected by a Participant at the time he or she makes the Participant’s election described in
Section 5.2(a): 
 (i) Within thirty (30) days after the beginning of the calendar quarter that is at least six
(6) months after the Participant’s Termination of Employment; or 
 (ii) Within thirty (30) days after the
beginning of the calendar quarter that is at least twelve (12) months after the Participant’s Termination of Employment. 
 (c)
Notwithstanding anything in this Section 5.2 to the contrary, if the Participant’s vested Account Balance on the date of his or her Termination of Employment is less than $25,000, then the distribution elections described in Sections
5.2(a) through 5.2(c) above shall be disregarded and the Participant’s entire vested Account Balance shall be paid in a lump sum distribution on the Benefit Distribution Date described in Section 5.2(b)(i), above. 
  

 - 10 - 

 ARTICLE 6 
 Disability Benefit 
 6.1 Disability Benefit. Upon a Participant’s Disability, the
Participant shall receive a Disability Benefit which shall be equal to the Participant’s entire vested Account Balance, calculated as of the Participant’s Benefit Distribution Date. 
 6.2 Payment of Disability Benefit. 
 (a) A
Participant, in connection with his or her commencement of participation in the Plan (or more frequently as the Company may prescribe), shall elect on an Election Form to receive the Disability Benefit in a lump sum or pursuant to an Installment
Method of up to ten (10) years in accordance with such rules and procedures as the Company may establish. If a Participant does not make any election with respect to the payment of the Disability Benefit, then such Participant shall be deemed
to have elected to receive the Disability Benefit in a lump sum. For this purpose, a Participant’s Benefit Distribution Date shall be within thirty (30) days, after the beginning of the calendar quarter following the Participant’s
Disability. 
 (b) A Participant may change the form of payment of the Disability Benefit by completing an Election Form in accordance with
such rules and procedures established by the Company provided that the election to modify the Disability Benefit shall have no effect until at least twelve (12) months after the date on which the election is made. All provisions relating to
changing the Disability Benefit election under this Section 6.2 shall be interpreted in a manner that is consistent with Code Section 409A. 
 (c) The lump sum payment shall be made, or installment payments shall commence on the Participant’s Benefit Distribution Date (or such later time permitted under Code Section 409A). 
 (d) Notwithstanding anything in this Article to the contrary, if a Participant’s vested Account Balance is less than $25,000 on the date the
Participant is determined to be Disabled, then the Participant shall receive payment of his or her entire vested Account Balance within thirty (30) days after the beginning of the calendar quarter following the Participant’s Disability.

 ARTICLE 7 
 Death
Benefit 
 7.1 Death Benefit. The Participant’s Beneficiary(ies) shall receive a Death Benefit upon the Participant’s death
which will be equal to the Participant’s entire vested Account Balance, calculated as of the close of business as of the Participant’s Benefit Distribution Date, which, for this purpose, shall be within thirty (30) days following the
beginning of the second calendar quarter following the Participant’s death. 
 7.2 Payment of Death Benefit. The Death Benefit shall be
paid to the Participant’s Beneficiary(ies) in a lump sum payment on the Participant’s Benefit Distribution Date (or such later time permitted under Code Section 409A). 
 ARTICLE 8 
 Beneficiary Designation 
 8.1 Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary(ies) (both primary as well as contingent) to
receive any benefits payable under the Plan to a beneficiary upon the death of a Participant under such rules as shall be established by the Company. The Beneficiary designated under this Plan may be the same as or different from the Beneficiary
designation under any other plan of an Employer in which the Participant participates. 
  

 - 11 - 

 8.2 Beneficiary Designation; Change; Spousal Consent. A Participant shall designate his or her Beneficiary
by completing the Beneficiary Designation Form, and returning it to the Company or its designated agent in accordance with such rules and procedures established by the Company. A Participant shall have the right to change a Beneficiary by completing
and otherwise complying with the terms of the Beneficiary Designation Form and the Company’s rules and procedures, as in effect from time to time. If the Participant names someone other than his or her spouse as a Beneficiary, the Company may,
in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Company, executed by such Participant’s spouse and returned to the Company or its designated agent. Upon the proper completion of a
new Beneficiary Designation Form, all Beneficiary designations previously filed shall be canceled and the Company shall be entitled to rely on the last Beneficiary Designation Form completed by the Participant in accordance with the applicable rules
and procedures adopted with respect to the filing of such forms prior to his or her death. 
 8.3 Acknowledgment. No designation or change in
designation of a Beneficiary shall be effective until completed and submitted in accordance with the rules and procedures established by the Company for this purpose. 
 8.4 No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 8.1, 8.2 and 8.3 above or, if all designated Beneficiaries predecease the Participant or die
prior to complete distribution of the Participant’s benefits, then the Participant’s designated Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no surviving spouse, the benefits remaining under the
Plan to be paid to a Beneficiary shall be payable to the executor or personal representative of the Participant’s estate. 
 8.5 Doubt as to
Beneficiary. If there is any doubt as to the proper Beneficiary to receive payments pursuant to this Plan, the Committee shall have the right, exercisable in its discretion, to cause the Participant’s Employer to withhold such payments
until this matter is resolved to the Committee’s satisfaction. 
 8.6 Discharge of Obligations. The payment of benefits under the Plan to
a Beneficiary shall fully and completely discharge all Employers and the Company from all further obligations under this Plan with respect to the Participant, and that Participant’s Plan Agreement shall terminate upon such full payment of
benefits. 
 ARTICLE 9 
 Leave of Absence 
 9.1 Paid Leave of Absence. If a Participant is authorized by the Participant’s Employer to take
a paid leave of absence from the employment of the Employer, and such leave of absence does not constitute a separation from service in accordance with Code Section 409A, (i) the Participant shall continue to be considered eligible for the
benefits provided in Articles 4, 5, 6 or 7 in accordance with the provisions of those Articles, and (ii) the Annual Deferral Amount shall continue to be withheld from his or her Base Salary, Bonuses and Commissions during such paid leave
of absence in accordance with Section 3.3. 
 9.2 Unpaid Leave of Absence. If a Participant is authorized by the Participant’s
Employer to take an unpaid leave of absence from the employment of the Employer for any reason, and such leave of absence does not constitute a separation from service in accordance with Code Section 409A, such Participant 

  

 - 12 - 

 
shall continue to be eligible for the benefits provided in Articles 4, 5, 6 or 7 in accordance with the provisions of those Articles. The Participant shall
continue his or her deferrals with respect to amounts earned prior to the commencement of the unpaid leave of absence. When the Participant returns to employment, the Participant’s deferrals with respect to amounts earned after his or her
return to active employment shall continue in accordance with the applicable election(s) submitted for that Plan Year. In addition, Participants who are on an unpaid leave may elect to defer an Annual Deferral Amount for the Plan Year following
his or her return to employment and for every Plan Year thereafter while a Participant in the Plan, provided such deferral elections are otherwise allowed and an Election Form is completed in accordance with the rules and procedures established for
each such election in accordance with Article 3 above. 
 9.3 Leaves Resulting in Separation From Service. In the event that a
Participant’s leave of absence from his or her Employer constitutes a separation from service in accordance with Code Section 409A, the Participant’s vested Account Balance shall be distributed to the Participant in accordance with
Article 5 or 6 of this Plan, as applicable. 
 ARTICLE 10 
 Termination of Plan, Amendment or Modification 
 10.1 Termination of Plan. Although each
Employer anticipates that it will continue the Plan for an indefinite period of time, there is no guarantee that any Employer will continue the Plan or will not terminate its participation in the Plan at any time in the future. Accordingly, each
Employer reserves the right to terminate its participation in the Plan. In addition, the Company retains the right to terminate the Plan at any time. In the event of the termination of an Employer’s participation in the Plan (or the
Company’s termination of the Plan as a whole), the termination shall occur in a manner consistent with the requirements of Code Section 409A. 
 10.2 Amendment. The Company may, at any time, amend or modify the Plan in whole or in part. 
 10.3 Effect of Payment.
The full payment of the Participant’s vested Account Balance under the Plan shall fully and completely discharge all Employers and the Company from all further obligations under this Plan with respect to the Participant and his or her
Beneficiaries, and that Participant’s Plan Agreement shall terminate upon such full payment of benefits. 
 ARTICLE 11 

Administration 
 11.1 Duties.
The Committee shall have the discretion and authority to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan, and (ii) decide or resolve any and all questions, including benefit
entitlement determinations (including but not limited to the Committee’s authority to determine whether a Participant qualifies for a distribution on account of Disability or an Unforeseeable Emergency) and interpretations of this Plan, as may
arise in connection with the Plan. When making a determination or calculation, the Committee shall be entitled to rely on information furnished by a Participant or the Company. The Committee may delegate some or all of its powers and authority under
this Plan. 
 11.2 Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such
administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel. 
  

 - 13 - 

 11.3 Binding Effect of Decisions. The decision or action of the Committee with respect to any question
arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan.

 11.4 Indemnity of Committee. To the maximum extent permitted by applicable law, each member of the Committee, and the Board, shall be
indemnified and held harmless by the Company against and from (i) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to
which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan, and (ii) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval,
or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she
undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Articles of
Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold them harmless. 
 11.5 Employer Information. To enable the Committee to perform its functions, the Company and each Employer shall supply full and timely information on all matters relating to the Plan, the Participants and their Beneficiaries,
the Account Balances of the Participants, the compensation of its Participants, the date and circumstances of the Disability, death or Termination of Employment of its Participants, and such other pertinent information as may be reasonably required.

 ARTICLE 12 
 Other
Benefits and Agreements 
 12.1 Coordination with Other Benefits. The benefits provided for a Participant and Participant’s
Beneficiary under the Plan are in addition to any other benefits available to such Participant under any other plan or program for employees of the Participant’s Employer. The Plan shall supplement and shall not supersede, modify or amend any
other such plan or program except as may otherwise be expressly provided. 
 ARTICLE 13 
 Claims Procedures 
 13.1 Presentation of
Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to below as a “Claimant”) may deliver to the Company a written claim for a determination with respect to the amounts
distributable to such Claimant from the Plan. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination
desired by the Claimant. 
 13.2 Notification of Decision. The Company shall consider a Claimant’s claim within a reasonable time, but no
later than ninety (90) days after receiving the claim. If the Committee determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be furnished to the Claimant prior to the
termination of the initial ninety (90) day period. In no event shall such extension exceed a period of ninety (90) days from the end of the initial period. The extension notice shall indicate the special circumstances requiring an
extension of time and the date by which the Company expects to render the benefit determination. The Company shall notify the Claimant in writing: 
 (a) that the Claimant’s requested determination has been made, and that the claim has been allowed in full; or 
  

 - 14 - 

 (b) that the Company has reached a conclusion contrary, in whole or in part, to the Claimant’s
requested determination, and such notice must set forth in a manner calculated to be understood by the Claimant: 
 (i) the
specific reason(s) for the denial of the claim, or any part of it; 
 (ii) specific reference(s) to pertinent provisions of
the Plan upon which such denial was based; 
 (iii) a description of any additional material or information necessary for the
Claimant to perfect the claim, and an explanation of why such material or information is necessary; 
 (iv) an explanation of
the claim review procedure set forth in Section 13.3 below; and 
 (v) a statement of the Claimant’s right to bring
a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 
 13.3 Review of a Denied Claim. On or
before sixty (60) days after receiving a notice from the Company that a claim has been denied, in whole or in part, a Claimant (or the Claimant’s duly authorized representative) may file with the Committee a written request for a review of
the denial of the claim. The Claimant (or the Claimant’s duly authorized representative): 
 (a) may, upon request and free of charge,
have reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claim for benefits; 
 (b) may submit written comments or other documents; and/or 
 (c) may request a hearing, which the Company,
in its sole discretion, may grant. 
 13.4 Decision on Review. The Company shall render its decision on review promptly, and no later than
sixty (60) days after the Company receives the Claimant’s written request for a review of the denial of the claim. If the Company determines that special circumstances require an extension of time for processing the claim, written notice
of the extension shall be furnished to the Claimant prior to the termination of the initial sixty (60) day period. In no event shall such extension exceed a period of sixty (60) days from the end of the initial period. The extension notice
shall indicate the special circumstances requiring an extension of time and the date by which the Company expects to render the benefit determination. In rendering its decision, the Company shall take into account all comments, documents, records
and other information submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The decision must be written in a manner calculated to be understood
by the Claimant, and it must contain: 
 (a) specific reasons for the decision; 
  

 - 15 - 

 (b) specific reference(s) to the pertinent Plan provisions upon which the decision was based; 

(c) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of, all documents, records
and other information relevant (as defined in applicable ERISA regulations) to the Claimant’s claim for benefits; and 
 (d) a statement
of the Claimant’s right to bring a civil action under ERISA Section 502(a). 
 13.5 Legal Action. A Claimant’s compliance with
the foregoing provisions of this Article 13 is a mandatory prerequisite to a Claimant’s right to commence any legal action with respect to any claim for benefits under this Plan. 
 ARTICLE 14 
 Miscellaneous 
 14.1 Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that “is unfunded and
is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be
administered and interpreted (i) in a manner consistent with that intent, and (ii) in accordance with Code Section 409A. 
 14.2
Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of an Employer. For purposes of the payment of
benefits under this Plan, any and all of an Employer’s assets shall be, and remain, the general, unpledged unrestricted assets of the Employer. An Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured
promise to pay money in the future. 
 14.3 Employer’s Liability. An Employer’s liability for the payment of benefits shall be
defined only by the Plan and the Plan Agreement, as entered into between the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan except as expressly provided in the Plan and his or her Plan Agreement.

 14.4 Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge,
anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be,
unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a
Participant or any other person, be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise.
Notwithstanding anything in this Plan to the contrary, the Company may establish procedures for the payment of all or a portion of a Participant’s Account balance pursuant to a domestic relations order which would otherwise qualify a
“qualified domestic relations order” under Code Section 414(p) if this Plan were qualified under Code Section 401(a). 
  

 - 16 - 

 14.5 Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute
a contract of employment between any Employer and the Participant. Such employment is hereby acknowledged to be “at-will”, meaning that it is not for any specified period of time and can be terminated by the Participant or his or her
Employer at any time, with or without advance notice, and for any or no particular reason or cause. Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of any Employer or to interfere with the right of
any Employer to discipline or discharge the Participant at any time. 
 14.6 Furnishing Information. A Participant or his or her Beneficiary
will cooperate with the Company, Employer and/or Committee (as applicable) by furnishing any and all information requested, and take such other actions as may be requested, in order to facilitate the administration of the Plan and the payments of
benefits hereunder. 
 14.7 Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were in the
feminine in all cases where they would so apply; and whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they
would so apply. 
 14.8 Captions. The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not
control or affect the meaning or construction of any of its provisions. 
 14.9 Governing Law. Subject to ERISA, the provisions of this Plan
shall be construed and interpreted according to the internal laws of the State of California without regard to its conflicts of laws principles. 
 14.10
Notice. Any notice or filing required or permitted under this Plan shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail or overnight delivery service, to the address below: 
  

			
	 Logitech Inc.

	 Attn:
	  	Logitech Inc. Deferred Compensation
		  	Plan Administrator
	 6505 Kaiser Drive

	 Fremont, CA 94555

 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, or
overnight delivery service as of the date shown on the postmark on the receipt for registration or certification. 
 Any notice or filing
required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail or overnight delivery service, to the last known address of the Participant. 
 14.11 Successors. The provisions of this Plan shall bind and inure to the benefit of the Participant’s Employer and its successors and assigns and the
Participant and the Participant’s designated Beneficiaries. 
 14.12 Spouse’s Interest. The interest in the benefits hereunder of a
spouse of a Participant who has predeceased the Participant shall automatically pass to the Participant and shall not be transferable by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass
under the laws of intestate succession. 
  

 - 17 - 

 14.13 Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said
illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 
 14.14 Incompetent. If the Company determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared incompetent or to
a person incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable
person. The Company may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 
 14.15
Court Order. The Company is authorized to comply with any court order in any action in which the Plan or the Company has been named as a party, including any action involving a determination of the rights or interests in a
Participant’s benefits under the Plan as set forth in such procedures as the Company may establish pursuant to Section 14.4. Notwithstanding the foregoing, the Company shall interpret this provision in a manner that is consistent with Code
Section 409A and other applicable tax law. 
 14.16 Distribution in the Event of Income Inclusion under Code Section 409A. If any
portion of a Participant’s Account Balance under this Plan is required to be included in income by the Participant prior to receipt due to a violation of the requirements of Code Section 409A, the Participant may petition the Company, as
applicable, for a distribution of that portion of his or her Account Balance that is required to be included in his or her income. Upon the grant of such a petition, which grant shall not be unreasonably withheld, the Participant’s Employer
shall distribute to the Participant immediately available funds in an amount equal to the portion of his or her Account Balance required to be included in income as a result of the failure of the Plan to meet the requirements of Code
Section 409A, which amount shall not exceed the Participant’s unpaid vested Account Balance under the Plan. Such a distribution shall affect and reduce the Participant’s benefits to be paid under this Plan. 
 14.17 Deduction Limitation on Benefit Payments. If an Employer reasonably anticipates that the Employer’s deduction with respect to any distribution
from this Plan would be limited or eliminated by application of Code Section 162(m), then to the extent deemed necessary by the Employer to ensure that the entire amount of any distribution from this Plan is deductible, the Employer may delay
payment of any amount that would otherwise be distributed from this Plan. Any amounts for which distribution is delayed pursuant to this Section 14.17 shall continue to be credited/debited with additional amounts in accordance with
Section 3.9 above. The delayed amounts (and any amounts credited thereon) shall be distributed to the Participant (or his or her Beneficiary in the event of the Participant’s death) at the earliest date the Employer reasonably anticipates
that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m). 
 IN WITNESS WHEREOF, the
Company has adopted this Plan document effective as of January 1, 2009. 
  

			
	Logitech Inc., a California corporation
		
	By:	 	/s/ Gerald Quindlen
	Name:	 	Gerald Quindlen
	Title:	 	President & CEO

  

 - 18 -Promissory Note

 Exhibit 10.9 
  

									
	LOAN NUMBER	 	LOAN NAME	 	ACCT. NUMBER	 	NOTE DATE	 	INITIALS
					
	51062315	 	Pinnacle Bankshares Corporation	 		 	12/29/08	 	SDL
					
	NOTE AMOUNT	 	INDEX (w/Margin)	 	RATE	 	MATURITY DATE	 	LOAN PURPOSE
					
	$5,000,000.00	 	Wall Street Journal Prime	 	5.0%	 	12/29/10	 	Commercial
					
		 		 	Creditor Use Only	 		 	

 PROMISSORY NOTE 
 (Commercial - Revolving Draw) 
  
 DATE AND PARTIES. The date of this Promissory Note (Note) is December 29, 2008. The parties and their addresses are: 
 LENDER: 
 COMMUNITY BANKERS’ BANK 
 2601 Promenade Parkway 
 Midlothian, Virginia
23113 
 Telephone: 804-794-5885 
 BORROWER: 
 PINNACLE BANKSHARES CORPORATION 
 a Virginia Corporation 
 622 Broad Street

 Altavista, VA 24517 
 CONFESSION OF
JUDGMENT. I appoint and authorize Matthew Cheek, 1021 East Cary Street, Richmond, VA 23218, attorneys in fact, to appear in the office of Williams Mullen 1021 East Cary Street, Richmond, VA 23218-1320, Virginia, to confess judgment against me,
in favor of you, if I default on this agreement. The confession of judgment may be without process and ONLY for any amount of PRINCIPAL and INTEREST due on this Note. 
 In this notice, “you” means the Borrower. IMPORTANT NOTICE: THIS INSTRUMENT CONTAINS A CONFESSION OF JUDGMENT WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS
YOU MAY HAVE AS A DEBTOR AND ALLOWS THE CREDITOR TO OBTAIN A JUDGMENT AGAINST YOU WITHOUT ANY FURTHER NOTICE. 
 1. DEFINITIONS. As used in
this Note, the terms have the following meanings: 
 A. Pronouns. The pronouns “I,” “me,” and “my” refer
to each Borrower signing this Note, individually and together. “You” and “Your” refer to the Lender. 
 B. Note.
Note refers to this document, and any extensions, renewals, modifications and substitutions of this Note. 
 C. Loan. Loan refers
to this transaction generally, including obligations and duties arising from the terms of all documents prepared or submitted for this transaction such as applications, security agreements, disclosures or notes, and this Note. 
 D. Loan Documents. Loan Documents refer to all the documents executed as a part of or in connection with the Loan. 
 E. Property. Property is any property, real, personal or intangible, that secures my performance of the obligations of this Loan. 
 F. Percent. Rates and rate change limitations are expressed as annualized percentages. 
 2. PROMISE TO PAY. For value received, I promise to pay you or your order, at your address, or at such other location as you may designate, amounts advanced from
time to time under the terms of this Note up to the maximum outstanding principal balance of $5,000,000.00 (Principal), plus interest from the date of disbursement, on the unpaid outstanding Principal balance until this Note is paid in full
and you have no further obligations to make advances to me under the Loan. 
 I may borrow up to the Principal amount more than one time. 
 3. ADVANCES. Advances under this Note are made according to the following terms and conditions. 
 A. Requests for Advances. My requests are a warranty that I am in compliance with all the Loan Documents. When required by you for a particular
method of advance, my requests for an advance must specify the requested amount and the date and be accompanied with any agreements, documents, and instruments that you require for the Loan. Any payment by you of any check, share draft or other
charge may, at your option, constitute an advance on the Loan to me. All advances will be made in United States dollars. I will indemnify you and hold you harmless for your reliance on any request for advances that you reasonably believe to be
genuine. To the extent permitted by law, I will indemnify you and hold you harmless when the person making any request represents that I authorized this person to request an advance even when this person is unauthorized or this person’s
signature is not genuine. 
 I or anyone I authorize to act on my behalf may request advances by the following methods. 
 (1) I make a request in person. 
 (2) I make a request by phone. 
  

					
	Pinnacle Bankshares Corporation	 	 	 	 
	Virginia Promissory Note	 		 	
	VA/4XCHUGHES00000000000111032122908N	 	©1996 Bankers Systems, Inc., St. Cloud, MN 

	 	Page 1

 (3) I make a request by mail. 
 B. Advance Limitations. In addition to any other Loan conditions, requests for, and access to, advances are subject to the following
limitations. 
 (1) Obligatory Advances. You will make all Loan advances subject to this Agreement’s terms and conditions.

 (2) Minimum Advance. Subject to the terms and conditions contained in this Note, advances will be made in the amount of $5000.00.

 (3) Maximum Frequency. Advances will be made no more frequently than Weekly. 
 (4) Cut-Off Time. Requests for an advance received before 3:00:00 pm EST will be made on any day that you are open for business, on the day for
which the advance is requested. 
 (5) Disbursement of Advances. On my fulfillment of this Note’s terms and conditions, you will
disburse the advance in any manner as you and I agree. 
 (6) Credit Limit. I understand that you will not ordinarily grant a request
for an advance that would cause the unpaid principal of my Loan to be greater than the Principal limit. You may, at your option, grant such a request without obligating yourselves to do so in the future. I will pay any over advances in addition to
my regularly scheduled payments. I will repay any over advance by repaying you in full within 10 days after the overdraft occurs. 
 (7) Records. Your records will be conclusive evidence as to the amount of advances, the Loan’s unpaid principal balances and the accrued interest. 
 4. INTEREST. Interest will accrue on the unpaid Principal balance of this Note at the rate of 5.0 percent (Interest Rate) until December 30, 2008, after which time it may change as described in the
Variable Rate subsection. 
 A. Post-Maturity Interest. After maturity or acceleration, interest will accrue on the unpaid Principal
balance of this Note at the Interest Rate in effect from time to time, until paid in full. 
 B. Maximum Interest Amount. Any amount
assessed or collected as interest under the terms of this Note will be limited to the maximum lawful amount of interest allowed by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful amount will be applied
first to the unpaid Principal balance. Any remainder will be refunded to me. 
 C. Statutory Authority. The amount assessed or
collected on this Note is authorized by the Virginia usury laws under Va. Code §§ 6.1-330.49 et. seq. 
 D. Accrual. Interest
accrues using an Actual/360 days counting method. 
 E. Variable Rate. The Interest Rate may change during the term of this
transaction. 
 (1) Index. Beginning with the first Change Date, the Interest Rate will be based on the following index: U.S. prime
rate is the base rate on corporate loans posted by at least 75% of the 30 largest U.S. banks. 
 The Current Index is the most recent index
figure available on each Change Date. You do not guaranty by selecting this Index, or the margin, that the Interest Rate on this Note will be the same rate you charge on any other loans or class of loans you make to me or other borrowers. If this
Index is no longer available, you will substitute a similar index. You will give me notice of your choice. 
 (2) Change Date. Each
date on which the Interest Rate may change is called a Change Date. The Interest Rate may change December 30, 2008 and daily thereafter. 
 (3) Calculation Of Change. On each Change Date you will calculate the Interest Rate, which will be the Current Index. The result of this calculation will be rounded to the nearest .001 percent. Subject to any limitations, this will
be the Interest Rate until the next Change Date. The new Interest Rate will become effective on each Change Date. The Interest Rate and other charges on this Note will never exceed the highest rate or charge allowed by law for this Note. 

(4) Limitations. The Interest Rate changes are subject to the following limitations: 
 (a) Lifetime. The Interest Rate will never be greater than 18.000 percent or less than 5.000 percent. 
 (5) Effect Of Variable Rate. A change in the Interest Rate will have the following effect on the payments: The amount of scheduled payments and the
amount of the final payment will change. 
 5. ADDITIONAL CHARGES. As additional consideration, I agree to pay, or have paid, these additional fees
and charges. 
 A. Nonrefundable Fees and Charges. The following fees are earned when collected and will not be refunded if I prepay
this Note before the scheduled maturity date. 
 Loan Origination. A(n) Loan Origination fee of $25,000.00 payable from separate funds
on or before today’s date. 
 6. REMEDIAL CHARGES. In addition to interest or other finance charges, I agree that I will pay these additional
fees based on my method and pattern of payment. Additional remedial charges may be described elsewhere in this Note. 
 A. Late Charge.
If a payment is more than 10 days late, I will be charged 5.000 percent of the Amount of Payment. I will pay this late charge promptly but only once for each late payment. 
 7. PAYMENT. I agree to pay this Note on demand, but if no demand is made, I agree to pay all accrued interest on the balance outstanding from time to time in
regular payments beginning January 29, 2009, then on the same day of each month thereafter. A final payment of the entire unpaid outstanding balance of Principal and interest will be due December 29, 2010. 
 Payments will be rounded to the nearest $.01. With the final payment I also agree to pay any additional fees or charges owing and the amount of any advances you have
made to others on my behalf. Payments scheduled to be paid on the 29th, 30th or 31st day of a month that contains no such day will, instead, be made on the last day of such month. 
 Interest payments will be applied first to any charges I owe other than late charges, then to accrued, but unpaid interest, then to late charges. Principal payments will be applied first to the outstanding Principal
balance, then to any late charges. If you and I agree to a different application of payments, we will describe our agreement on this Note. The actual amount of my final payment will depend on my payment record. 
 8. PREPAYMENT. I may prepay this Loan in full or in part at any time. Any partial prepayment will not excuse any later scheduled payments until I pay in full.

  

					
	Pinnacle Bankshares Corporation	 	 	 	 
	Virginia Promissory Note	 		 	
	VA/4XCHUGHES00000000000111032122908N	 	©1996 Bankers Systems, Inc., St. Cloud, MN 

	 	Page 2

 9. LOAN PURPOSE. The purpose of this Loan is working capital. 
 10. ADDITIONAL TERMS. This commitment shall renew annually provided no conditions of default exist and at the sole discretion of the Bank. A 0.50% fee shall be
paid at closing and each renewal period thereafter based on the total commitment. The maximum amount advanced to Borrower shall not exceed, at any time, the lower of the commitment or fifty percent (50.0%) of the book value of the collateral
pledged. 
 11. SECURITY. The Loan is secured by separate security instruments prepared together with this Note as follows: 
  

					
	 Document Name
	  	 Parties to Document
	  	 Date of Security Document

	 Assignment Of Investment Property/Securities - First
	  	Pinnacle Bankshares Corporation	  	December 29, 2008
	 National Bank of Altavista
	  		  	

 12. DEFAULT. I understand that you may demand payment anytime at your discretion. For example, you may
demand payment in full if any of the following occur: 
 A. Payments. I fail to make a payment in full when due. 
 B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor
relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy,
reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Note or any other obligations I have with you. 
 C. Business Termination. I merge, dissolve, reorganize, end my business or existence, or a partner or majority owner dies or is declared legally incompetent. 
 D. Failure to Perform. I fail to perform any condition or to keep any promise or covenant of this Note. 
 E. Other Documents. A default occurs under the terms of any other Loan Document. 
 F. Other Agreements. I am in default on any other debt or agreement I have with you. 
 G. Misrepresentation. I make any verbal or written statement or provide any financial information that is untrue, inaccurate, or conceals a
material fact at the time it is made or provided. 
 H. Judgment. I fail to satisfy or appeal any judgment against me. 
 I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority. 
 J. Name Change. I change my name or assume an additional name without notifying you before making such a change. 
 K. Property Transfer. I transfer all or a substantial part of my money or property. 
 L. Property Value. You determine in good faith that the value of the Property has declined or is impaired. 
 M. Material Change. Without first notifying you, there is a material change in my business, including ownership, management, and financial
conditions. 
 N. Insecurity. You determine in good faith that a material adverse change has occurred in my financial condition from
the conditions set forth in my most recent financial statement before the date of this Note or that the prospect for payment or performance of the Loan is impaired for any reason. 
 13. DUE ON SALE OR ENCUMBRANCE. You may, at your option, declare the entire balance of this Note to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance,
transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. 
 14. WAIVERS AND CONSENT. To the extent not prohibited by law, I waive protest, presentment for payment, demand, notice of acceleration, notice of intent to accelerate and notice of dishonor. 
 A. Additional Waivers By Borrower. In addition, I, and any party to this Note and Loan, to the extent permitted by law, consent to certain actions
you may take, and generally waive defenses that may be available based on these actions or based on the status of a party to this Note. 
 (1) You may renew or extend payments on this Note, regardless of the number of such renewals or extensions. 
 (2) You
may release any Borrower, endorser, guarantor, surety, accommodation maker or any other co-signer. 
 (3) You may release, substitute
or impair any Property securing this Note. 
 (4) You, or any institution participating in this Note, may invoke your right of set-off.

 (5) You may enter into any sales, repurchases or participations of this Note to any person in any amounts and I waive notice of such
sales, repurchases or participations. 
 (6) I agree that any of us signing this Note as a Borrower is authorized to modify the terms
of this Note or any instrument securing, guarantying or relating to this Note. 
 B. No Waiver By Lender. Your course of dealing, or
your forbearance from, or delay in, the exercise of any of your rights, remedies, privileges or right to insist upon my strict performance of any provisions contained in this Note, or any other Loan Document, shall not be construed as a waiver by
you, unless any such waiver is in writing and is signed by you. 
 15. REMEDIES. After I default, you may at your option do any one or more of the
following. 
 A. Acceleration. You may make all or any part of the amount owing by the terms of this Note immediately due. 

B. Sources. You may use any and all remedies you have under state or federal law or in any Loan Document. 
 C. Insurance Benefits. You may make a claim for any and all insurance benefits or refunds that may be available on my default. 
  

					
	Pinnacle Bankshares Corporation	 	 	 	 
	Virginia Promissory Note	 		 	
	VA/4XCHUGHES00000000000111032122908N	 	©1996 Bankers Systems, Inc., St. Cloud, MN 

	 	Page 3

 D. Payments Made On My Behalf. Amounts advanced on my behalf will be immediately due and may be
added to the balance owing under the terms of this Note, and accrue interest at the highest post-maturity interest rate. 
 E. Termination.
You may terminate my right to obtain advances and may refuse to make any further extensions of credit. 
 F. Set-Off. You may use
the right of set-off. This means you may set-off any amount due and payable under the terms of this Note against any right I have to receive money from you. 
 My right to receive money from you includes any deposit or share account balance I have with you; any money owed to me on an item presented to you or in your possession for collection or exchange; and any repurchase
agreement or other non-deposit obligation. “Any amount due and payable under the terms of this Note” means the total amount to which you are entitled to demand payment under the terms of this Note at the time you set-off. 
 Subject to any other written contract, if my right to receive money from you is also owned by someone who has not agreed to pay this Note, your right of
set-off will apply to my interest in the obligation and to any other amounts I could withdraw on my sole request or endorsement. 
 Your right
of set-off does not apply to an account or other obligation where my rights arise only in a representative capacity. It also does not apply to any Individual Retirement Account or other tax-deferred retirement account. 
 You will not be liable for the dishonor of any check when the dishonor occurs because you set-off against any of my accounts. I agree to hold you harmless
from any such claims arising as a result of your exercise of your right of set-off. 
 G. Waiver. Except as otherwise required by law,
by choosing any one or more of these remedies you do not give up your right to use any other remedy. You do not waive a default if you choose not to use a remedy. By electing not to use any remedy, you do not waive your right to later consider the
event a default and to use any remedies if the default continues or occurs again. 
 16. COLLECTION EXPENSES AND ATTORNEYS’ FEES. On or after
Default, to the extent permitted by law, I agree to pay all expenses of collection, enforcement or protection of your rights and remedies under this Note or any other Loan Document. Expenses include (unless prohibited by law) reasonable
attorneys’ fees, court costs, and other legal expenses. These expenses are due and payable immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full at the highest interest rate in
effect as provided for in the terms of this Note. All fees and expenses will be secured by the Property I have granted to you, if any. In addition, to the extent permitted by the United States Bankruptcy Code, I agree to pay the reasonable
attorneys’ fees incurred by you to protect your rights and interests in connection with any bankruptcy proceedings initiated by or against me. 
 17. COMMISSIONS. I understand and agree that you (or your affiliate) will earn commissions or fees on any insurance products, and may earn such fees on other services that I buy through you or your affiliate. 
 18. WARRANTIES AND REPRESENTATIONS. I make to you the following warranties and representations which will continue as long as this Note is in effect:

 A. Power. I am duly organized, and validly existing and in good standing in all jurisdictions in which I operate. I have the
power and authority to enter into this transaction and to carry on my business or activity as it is now being conducted and, as applicable, am qualified to do so in each jurisdiction in which I operate. 
 B. Authority. The execution, delivery and performance of this Note and the obligation evidenced by this Note are within my powers, have been
duly authorized, have received all necessary governmental approval, will not violate any provision of law, or order of court or governmental agency, and will not violate any agreement to which I am a party or to which I am or any of my Property is
subject. 
 C. Name and Place of Business. Other than previously disclosed in writing to you I have not changed my name or
principal place of business within the last 10 years and have not used any other trade or fictitious name. Without your prior written consent, I do not and will not use any other name and will preserve my existing name, trade names and franchises.

 19. APPLICABLE LAW. This Note is governed by the laws of Virginia, the United States of America, and to the extent required, by the laws of
the jurisdiction where the Property is located, except to the extent such state laws are preempted by federal law. In the event of a dispute, the exclusive forum, venue and place of jurisdiction will be in Virginia, unless otherwise required by law.

 20. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. My obligation to pay the Loan is independent of the obligation of any other person who
has also agreed to pay it. You may sue me alone, or anyone else who is obligated on the Loan, or any number of us together, to collect the Loan. Extending the Loan or new obligations under the Loan, will not affect my duty under the Loan and I will
still be obligated to pay the Loan. This Note shall inure to the benefit of and be enforceable by you and your successors and assigns and shall be binding upon and enforceable against me and my personal representatives, successors, heirs and
assigns. 
 21. AMENDMENT, INTEGRATION AND SEVERABILITY. This Note may not be amended or modified by oral agreement. No amendment or
modification of this Note is effective unless made in writing and executed by you and me. This Note and the other Loan Documents are the complete and final expression of the agreement. If any provision of this Note is unenforceable, then the
unenforceable provision will be severed and the remaining provisions will still be enforceable. 
 22. INTERPRETATION. Whenever used, the
singular includes the plural and the plural includes the singular. The section headings are for convenience only and are not to be used to interpret or define the terms of this Note. 
 23. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate party’s
address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one Borrower will be deemed to be notice to all Borrowers. I will inform you in writing of any change in my name, address or other application
information. I will provide you any financial statement or information you request. All financial statements and information I give you will be correct and complete. I agree to sign, deliver, and file any additional documents or certifications that
you may consider necessary to perfect, continue, and preserve my obligations under this Loan and to confirm your lien status on any Property. Time is of the essence. 
 24. CREDIT INFORMATION. I agree to supply you with whatever information you reasonably feel you need to decide whether to continue this Loan. You will make requests for this information without undue
frequency, and will give me reasonable time in which to supply the information. 
 25. ERRORS AND OMISSIONS. I agree, if requested by you, to
fully cooperate in the correction, if necessary, in the reasonable discretion of you of any and all loan closing documents so that all documents accurately describe the loan between you and me. I agree to assume all costs including by way of
illustration and not limitation, actual expenses, legal fees and marketing losses for failing to reasonably comply with your requests within thirty (30) days. 
  

					
	Pinnacle Bankshares Corporation	 	 	 	 
	Virginia Promissory Note	 		 	
	VA/4XCHUGHES00000000000111032122908N	 	©1996 Bankers Systems, Inc., St. Cloud, MN 

	 	Page 4

 26. SIGNATURES. By signing under seal, I agree to the terms contained in this Note. I also acknowledge
receipt of a copy of this Note. 
 BORROWER: 
  

					
	Pinnacle Bankshares Corporation	    	
			
	By	 	 /s/
	    	Date                      (Seal)
		 	Robert H. Gilliam, President	    	

 ACKNOWLEDGMENT (REQUIRED FOR CONFESSION OF JUDGMENT): 
 (Business or Entity) 
 COMMONWEALTH OF
                                        ,
COUNTY (OR CITY) OF
                                        
ss. 
 This instrument was acknowledged before me this      day of
                ,              by Robert H. Gilliam - President of Pinnacle Bankshares
Corporation a Virginia corporation, on behalf of the corporation. 
  

					
	 My commission expires:
	  		  	
		  	 /s/
	  	
		  	(Notary Public)	  	

  

					
	Pinnacle Bankshares Corporation	 	 	 	 
	Virginia Promissory Note	 		 	
	VA/4XCHUGHES00000000000111032122908N	 	©1996 Bankers Systems, Inc., St. Cloud, MN 

	 	Page 5

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