Document:

EX-10.1

 Exhibit 10.1 

NATIONAL COMMERCE CORPORATION 

2011 EQUITY INCENTIVE PLAN 

(As Amended and Restated on July 17, 2014) 
  

	1.	Establishment, Purpose and Types of Awards 

 National Commerce Corporation, a
Delaware corporation (the “Company”), has established the NATIONAL COMMERCE CORPORATION 2011 EQUITY INCENTIVE PLAN (the “Plan”). The purpose of the Plan is to promote the long-term growth and
profitability of the Company by (i) providing key people with incentives to improve shareholder value and to contribute to the growth and financial success of the Company through their future services and (ii) enabling the Company to
attract, retain and reward the best-available persons. 
 The Plan permits the granting of stock options (including incentive stock options
qualifying under Code section 422 and nonstatutory stock options), stock appreciation rights, restricted or unrestricted stock awards, phantom stock, performance awards, other stock-based awards or any combination of the foregoing. 

 

	2.	Definitions 

 Under the Plan, except where the context otherwise indicates, the following
definitions apply: 
 (a) “Administrator” means the Board or the committee(s) or officer(s) appointed by the Board
that have authority to administer the Plan as provided in Section 3 hereof. 
 (b) “Affiliate” means any
entity, whether now or hereafter existing, that controls, is controlled by or is under common control with the Company (including, but not limited to, joint ventures, limited liability companies and partnerships). For this purpose,
“control” shall mean ownership of 50% or more of the total combined voting power or value of all classes of stock or interests of the entity. 

(c) “Award” means any stock option, stock appreciation right, stock award, phantom stock award, performance award or
other stock-based award. 
 (d) “Board” means the Board of Directors of the Company. 

(e) “Change in Control” means: (i) the acquisition (other than from the Company) in one or more transactions by
any Person, as defined in this Section 2(e), of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended) of 50% or more of (A) the then outstanding shares of the
securities of the Company, or (B) the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors (the “Company Voting Stock”); (ii) the closing of
a sale or other conveyance of all or substantially all of the assets of the Company; or (iii) the effective time of any merger, share exchange, consolidation or other business combination involving the Company, if, immediately after such
transaction, persons who hold a majority of the outstanding voting securities entitled to vote generally in the election of directors of the surviving entity (or the entity owning 100% of such surviving entity) are not persons who, immediately prior
to such transaction, held the Company Voting Stock; provided, however, that a Change in Control shall not include (x) any 

 
consolidation or merger effected exclusively to change the domicile of the Company or (y) any transaction or series of transactions principally for bona fide equity financing purposes in
which cash is received by the Company or indebtedness of the Company is cancelled or converted or a combination thereof; provided, further, that for purposes of any Award or subplan that constitutes a “nonqualified deferred
compensation plan,” within the meaning of Code section 409A, the Administrator, in its discretion, may specify a different definition of Change in Control in order to comply with the provisions of Code section 409A. 

For purposes of this Section 2(e), a “Person” means any individual, entity or group within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended, other than: employee benefit plans sponsored or maintained by the Company and by entities controlled by the Company or an underwriter of the Common Stock in a
registered public offering. 
 (f) “Code” means the Internal Revenue Code of 1986, as amended, and any regulations
promulgated thereunder. 
 (g) “Common Stock” means shares of common stock of the Company, par value of $1.00 per
share. 
 (h) “Fair Market Value” means, with respect to a share of the Company’s Common Stock for any purpose
on a particular date, the value determined by the Administrator in good faith in accordance with Code section 409A (such that any Award granted hereunder will not be considered deferred compensation subject to Code section 409A) and, for purposes of
granting incentive stock options, in accordance with Code section 422. However, if the Common Stock is registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended, and listed for trading on a national exchange or
market, “Fair Market Value” means, as applicable, (i) either the closing price or the average of the high and low sale price on the relevant date, as determined in the Administrator’s discretion, quoted on the New
York Stock Exchange, the American Stock Exchange, the Nasdaq Global Select Market or the Nasdaq Global Market; (ii) the last sale price on the relevant date quoted on the Nasdaq Capital Market; (iii) the average of the high bid and low
asked prices on the relevant date quoted on the Nasdaq OTC Bulletin Board Service or by the National Quotation Bureau, Inc. or a comparable service as determined in the Administrator’s discretion; or (iv) if the Common Stock is not quoted
by any of the above, the average of the closing bid and asked prices on the relevant date furnished by a professional market maker for the Common Stock, or by such other source, selected by the Administrator. If no public trading of the Common Stock
occurs on the relevant date but the shares are so listed, then Fair Market Value shall be determined as of the next preceding date on which trading of the Common Stock does occur. For all purposes under the Plan, the term “relevant
date” as used in this Section 2(h) means either the date as of which Fair Market Value is to be determined or the next preceding date on which public trading of the Common Stock occurs, as determined in the Administrator’s
discretion. 
 (i) “Grant Agreement” means a written document memorializing the terms and conditions of an Award
granted pursuant to the Plan, which shall incorporate the terms of the Plan. 
  

	3.	Administration 

 (a) Administration of the Plan. The Plan shall be administered by
the Board or by such committee or committees as may be appointed by the Board from time to time. To the extent allowed by applicable state law, the Board by resolution may authorize an officer or officers to grant Awards (other than Stock Awards) to
other officers and employees of the Company and its Affiliates, and, to the extent of such authorization, such officer or officers shall be the Administrator. 

  
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 (b) Powers of the Administrator. The Administrator shall have all the powers vested in it
by the terms of the Plan, such powers to include authority, in its sole and absolute discretion, to grant Awards under the Plan, prescribe Grant Agreements evidencing such Awards and establish programs for granting Awards. 

Subject to limitations that may from time to time apply under banking laws and regulations, including restrictions on “golden parachute
payments” in 12 CFR Part 359, the Administrator shall have full power and authority to take all other actions necessary to carry out the purpose and intent of the Plan, including, but not limited to, the authority to: (i) determine the
eligible persons to whom, and the time or times at which, Awards shall be granted; (ii) determine the types of Awards to be granted; (iii) determine the number of shares to be covered by or used for reference purposes for each Award;
(iv) impose such terms, limitations, restrictions and conditions upon any such Award as the Administrator shall deem appropriate; (v) modify, amend, extend or renew outstanding Awards, or accept the surrender of outstanding Awards and
substitute new Awards (provided, however, that, except as provided in Section 6 or 7(d) of the Plan, any modification that would materially adversely affect any outstanding Award shall not be made without the consent of the holder
and that, with respect to Awards subject to Code section 409A, any modifications shall conform to the requirements of Code section 409A and any guidance and regulations issued thereunder); (vi) accelerate or otherwise change the time in which
an Award may be exercised or becomes payable and to waive or accelerate the lapse, in whole or in part, of any restriction or condition with respect to such Award, including, but not limited to, any restriction or condition with respect to the
vesting or exercisability of an Award following termination of any grantee’s employment or other relationship with the Company (provided, however, that, with respect to Awards subject to Code section 409A, any acceleration shall
conform to the requirements of Code section 409A and any guidance and regulations issued thereunder); (vii) establish objectives and conditions, if any, for earning Awards and determining whether Awards will be paid with respect to a
performance period; and (viii) for any purpose, including, but not limited to, qualifying for preferred tax treatment under foreign tax laws or otherwise complying with the regulatory requirements of local or foreign jurisdictions, to
establish, amend, modify, administer or terminate sub-plans, and prescribe, amend and rescind rules and regulations relating to such sub-plans. 

The Administrator shall have full power and authority, in its sole and absolute discretion, to administer, construe and interpret the Plan,
Grant Agreements and all other documents relevant to the Plan and Awards issued thereunder, to establish, amend, rescind and interpret such rules, regulations, agreements, guidelines and instruments for the administration of the Plan and for the
conduct of its business as the Administrator deems necessary or advisable, and to correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent the Administrator shall deem it
desirable to carry it into effect. 
 (c) Non-Uniform Determinations. The Administrator’s determinations under the Plan
(including, without limitation, determinations of the persons to receive Awards, the form, amount and timing of such Awards, the terms and provisions of such Awards and the Grant Agreements evidencing such Awards) need not be uniform and may be made
by the Administrator selectively among persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons are similarly situated. 

  
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 (d) Limited Liability. To the maximum extent permitted by law, no member of the
Administrator shall be liable for any action taken or decision made in good faith relating to the Plan or any Award thereunder. 
 (e)
Indemnification. To the maximum extent permitted by law and by the Company’s charter and bylaws, the members of the Administrator shall be indemnified by the Company in respect of all their activities under the Plan. 

(f) Effect of Administrator’s Decision. All actions taken and decisions and determinations made by the Administrator on all
matters relating to the Plan pursuant to the powers vested in it hereunder shall be in the Administrator’s sole and absolute discretion and shall be conclusive and binding on all parties concerned, including the Company, its shareholders, any
participants in the Plan and any other employee, consultant or director of the Company, and their respective successors in interest. 
  

	4.	Shares Available for the Plan 

 Subject to adjustments as provided in and
Section 7(d) of the Plan, the shares of Common Stock that may be issued with respect to Awards granted under the Plan shall not exceed an aggregate of 500,000 shares of Common Stock.1 The
Company shall reserve such number of shares of Common Stock for Awards under the Plan, subject to adjustments as provided in Section 7(d) of the Plan. If any Award, or portion of an Award, under the Plan expires or terminates unexercised,
becomes unexercisable, is settled in cash without delivery of shares of Common Stock or is forfeited or otherwise terminated, surrendered or canceled as to any shares, or if any shares of Common Stock are repurchased by or surrendered to the Company
in connection with any Award (whether or not such surrendered shares were acquired pursuant to any Award), or if any shares are withheld by the Company, the shares subject to such Award and the repurchased, surrendered and withheld shares shall
thereafter be available for further Awards under the Plan; provided, however, that any such shares that are surrendered to or repurchased or withheld by the Company in connection with any Award or that are otherwise forfeited
after issuance shall not be available for purchase pursuant to incentive stock options intended to qualify under Code section 422. 
  

	5.	Participation 

 Participation in the Plan shall be open to all employees, officers and
directors of, and other individuals providing bona fide services to or for, the Company, or of any Affiliate of the Company, as may be selected by the Administrator from time to time. The Administrator may also grant Awards to individuals in
connection with hiring, retention or otherwise, prior to the date on which the individual first performs services for the Company or an Affiliate, provided that such Awards shall not become vested or exercisable, and no shares shall be issued to
such individual, prior to the date the individual first commences performance of such services. 
  

	1 	For the sake of clarity, the reference to 500,000 shares assumes the completion of the 1-for-2 reverse stock split proposed for approval at the Company’s annual shareholder meeting to be held on or around
October 25, 2011. If for any reason such reverse stock split is not approved or consummated, then the reference shall automatically be revised to 1,000,000 shares rather than 500,000 shares. 

  
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	6.	Awards 

 The Administrator, in its sole discretion, establishes the terms of all Awards
granted under the Plan. Awards may be granted individually or in tandem with other types of Awards, concurrently with or with respect to outstanding Awards. All Awards are subject to the terms and conditions provided in the Grant Agreement. The
Administrator may permit or require a recipient of an Award to defer such individual’s receipt of the payment of cash or the delivery of Common Stock that would otherwise be due to such individual by virtue of the issuance of, exercise of,
payment of or lapse or waiver of restrictions respecting any Award. If any such payment deferral is required or permitted, the Administrator shall, in its sole discretion, establish rules and procedures for such payment deferrals, which such rules
and procedures shall comply with Code section 409A. 
 (a) Stock Options. The Administrator may from time to time grant to eligible
participants Awards of incentive stock options as that term is defined in Code section 422 or nonstatutory stock options. Options must have an exercise price at least equal to Fair Market Value as of the date of grant. Notwithstanding anything
in this Plan or any Grant Agreement to the contrary, the following additional requirements shall apply to all incentive stock options: 
  

	 	(i)	No stock option shall be an incentive stock option unless so designated by the Administrator at the time of grant or in the Grant Agreement evidencing such stock option; 

 

	 	(ii)	Awards of incentive stock options shall be limited to employees of the Company or of any current or hereafter existing “parent corporation” or “subsidiary corporation,” as defined in
Code sections 424(e) and (f), respectively, of the Company and any other individuals who are eligible to receive incentive stock options under the provisions of Code section 422; 

 

	 	(iii)	Pursuant to Code section 422(d), the aggregate fair market value (determined as of the grant date) of shares of Common Stock with respect to which an incentive stock option first becomes exercisable by an individual in
any calendar year under the Plan or any other plan of the Company (and its parent and subsidiary corporations, within the meaning of Code section 424(e) and (f), as may exist from time to time) may not exceed $100,000 or such other amount as may be
permitted from time to time under Code section 422. To the extent that such aggregate fair market value exceeds $100,000 or other applicable amount in any calendar year, such portion of the incentive stock option will be treated as a nonstatutory
stock option with respect to the amount of aggregate Fair Market Value thereof that exceeds the Code section 422(d) limit. For this purpose, incentive stock options will be taken into account in the order in which they were granted. In such case,
the Company may designate the shares of Common Stock that are to be treated as stock acquired pursuant to the exercise of the incentive stock option and the shares of Common Stock that are to be treated as stock acquired pursuant to the nonstatutory
stock Option by issuing separate certificates for such shares and identifying the certificates as such in the stock transfer records of the Company; and 

  
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	 	(iv)	If an individual owns, directly or indirectly through attribution, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any of its subsidiaries (within the
meaning of Code section 424(f)) on the grant date, then with respect to each grant of an incentive stock option to such individual: (A) the exercise price may not exceed 110% of the Fair Market Value of the Common Stock on the grant date, and
(B) the incentive stock option is not exercisable after the last business day prior to the fifth anniversary (rather than the tenth anniversary) of the date on which such incentive stock option is granted. 

(b) Stock Appreciation Rights. The Administrator may from time to time grant to eligible participants Awards of Stock Appreciation
Rights (“SAR”). A SAR entitles the grantee to receive, subject to the provisions of the Plan and the Grant Agreement, a payment having an aggregate value equal to the product of (i) the excess of (A) the Fair Market
Value on the exercise date of one share of Common Stock over (B) the base price per share specified in the Grant Agreement, times (ii) the number of shares specified by the SAR, or portion thereof, that is exercised. The base price per
share specified in the Grant Agreement shall not be less than the Fair Market Value on the grant date. Payment by the Company of the amount receivable upon any exercise of an SAR may be made by the delivery of Common Stock or cash, or any
combination of Common Stock and cash, as determined in the sole discretion of the Administrator. If upon settlement of the exercise of a SAR a grantee is to receive a portion of such payment in shares of Common Stock, the number of shares shall be
determined by dividing such portion by the Fair Market Value of a share of Common Stock on the exercise date. No fractional shares shall be used for such payment, and the Administrator shall determine whether cash shall be given in lieu of such
fractional shares or whether such fractional shares shall be eliminated. 
 (c) Stock Awards. The Administrator may from time to time
grant restricted or unrestricted stock Awards to eligible participants in such amounts, on such terms and conditions and for any lawful consideration as the Administrator may determine. The consideration for a stock Award may be in the form of
services provided, or may be paid in Common Stock, in cash or in a combination of Common Stock and cash, as determined in the sole discretion of the Administrator. 

(d) Phantom Stock. The Administrator may from time to time grant Awards to eligible participants denominated in stock-equivalent units
(“phantom stock”) in such amounts and on such terms and conditions as it shall determine. Phantom stock units granted to a participant shall be credited to a bookkeeping reserve account solely for accounting purposes and
shall not require a segregation of any of the Company’s assets. An Award of phantom stock may be settled in Common Stock, in cash or in a combination of Common Stock and cash, as determined in the sole discretion of the Administrator. Except as
otherwise provided in the applicable Grant Agreement, the grantee shall not have the rights of a shareholder with respect to any shares of Common Stock represented by a phantom stock unit solely as a result of the grant of a phantom stock unit to
the grantee. 
 (e) Performance Awards. The Administrator may, in its discretion, grant performance awards that become payable on
account of attainment of one or more performance goals established by the Administrator. Performance awards may be paid by the delivery of Common Stock or cash, or any combination of Common Stock and cash, as determined in the sole discretion of the
Administrator. Performance goals established by the Administrator may be based on the Company’s or an Affiliate’s operating income or one or more other business criteria selected by the Administrator that apply to an individual or group of
individuals, a business unit or the Company or an Affiliate as a whole, over such performance period as the Administrator may designate. 

  
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 (f) Other Stock-Based Awards. The Administrator may from time to time grant other
stock-based awards to eligible participants in such amounts, on such terms and conditions and for any lawful consideration as the Administrator may determine. Other stock-based awards may be denominated in cash, in Common Stock or other securities,
in stock-equivalent units, in stock appreciation units, in securities or debentures convertible into Common Stock or in any combination of the foregoing and may be paid in Common Stock or other securities, in cash or in a combination of Common Stock
or other securities and cash, all as determined in the sole discretion of the Administrator. 
  

	7.	Miscellaneous 

 (a) Withholding of Taxes. Grantees and holders of Awards shall pay
to the Company or its Affiliate, or make provision satisfactory to the Administrator for payment of, any taxes required to be withheld in respect of Awards under the Plan no later than the date of the event creating the tax liability. The Company or
its Affiliate may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to the grantee or holder of an Award. In the event that payment to the Company or its Affiliate of such tax obligations is
made in shares of Common Stock, such shares shall be valued at Fair Market Value on the applicable date for such purposes and shall not exceed in amount the minimum statutory tax withholding obligation. 

(b) Loans. To the extent otherwise permitted by law, the Company or its Affiliate may make or guarantee loans to grantees to assist
grantees in exercising Awards and satisfying any withholding tax obligations. 
 (c) Transferability. Except as otherwise determined
by the Administrator, and in any event in the case of an incentive stock option or a stock appreciation right granted with respect to an incentive stock option, no Award granted under the Plan shall be transferable by a grantee otherwise than by
will or the laws of descent and distribution. Unless otherwise determined by the Administrator in accord with the provisions of the immediately preceding sentence, an Award may be exercised during the lifetime of the grantee, only by the grantee or,
during the period the grantee is under a legal disability, by the grantee’s guardian or legal representative. 
 (d) Adjustments for
Corporate Transactions and Other Events. 
 (i) Stock Dividend, Stock Split and Reverse Stock Split. In the event of a
stock dividend of, or stock split or reverse stock split affecting, the Common Stock, (A) the maximum number of shares of such Common Stock as to which Awards may be granted under the Plan, as provided in Section 4 of the Plan, and
(B) the number of shares covered by and the exercise price and other terms of outstanding Awards, shall, without further action of the Board, be adjusted to reflect such event unless the Board determines, at the time at which it approves such
stock dividend, stock split or reverse stock split, that no such adjustment shall be made. The Administrator may make adjustments, in its discretion, to address the treatment of fractional shares and fractional cents that arise with respect to
outstanding Awards as a result of the stock dividend, stock split or reverse stock split. 

  
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 (ii) Non-Change in Control Transactions. Except with respect to the transactions set forth
in Section 7(d)(i), in the event of any change affecting the Common Stock, the Company or its capitalization, by reason of a spin-off, split-up, dividend, recapitalization, merger, consolidation or share exchange, other than any such change
that is part of a transaction resulting in a Change in Control of the Company, the Administrator, in its discretion and without the consent of the holders of the Awards, may make (A) appropriate adjustments to the maximum number and kind of
shares reserved for issuance or with respect to which Awards may be granted under the Plan, as provided in Section 4 of the Plan; and (B) any adjustments in outstanding Awards, including, but not limited to, modifying the number, kind and
price of securities subject to Awards. 
 (iii) Change in Control Transactions. In the event of any transaction resulting in a Change
in Control of the Company, outstanding stock options and other Awards that are payable in or convertible into Common Stock under the Plan will terminate upon the effective time of such Change in Control unless provision is made in connection with
the transaction for the continuation or assumption of such Awards by, or for the substitution of the equivalent awards of, the surviving or successor entity or a parent thereof. In the event of such termination, the holders of stock options and
other Awards under the Plan will be permitted, immediately before the Change in Control, to exercise or convert all portions of such stock options or other Awards under the Plan that are then exercisable or convertible or that become exercisable or
convertible upon or prior to the effective time of the Change in Control. Notwithstanding any other provision of the Plan to the contrary, in the event of a Change in Control, the Administrator may, in its sole discretion, take such actions as it
deems appropriate in connection with such Change in Control to provide for the acceleration of the exercisability of any or all outstanding stock options or other Awards, subject to compliance with Section 409A of the Code and any applicable
banking laws and regulations. There will be no automatic acceleration of the exercisability of any or all outstanding stock options or other Awards upon a Change in Control unless otherwise determined by the Administrator. If, immediately before the
Change in Control, no stock of the Company is readily tradeable on an established securities market or otherwise, and the vesting of an Award or Awards pursuant to this Section 7(d)(iii) would be treated as a “parachute payment” (as
defined in section 280G of the Code), then such Award or Awards shall not vest unless the requirements of the shareholder approval exemption of section 280G(b)(5) of the Code have been satisfied with respect to such Award or Awards. 

(iv) Unusual or Nonrecurring Events. The Administrator is authorized to make, in its discretion and without the consent of holders of
Awards, adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events affecting the Company, or the financial statements of the Company or any Affiliate, or of changes in applicable
laws, regulations or accounting principles, whenever the Administrator determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan.

 (v) Adjustments to Awards. Any adjustments under this Section 7(d) shall conform to the requirements of any and all
applicable banking laws and regulations and of Code section 409A and any guidance and regulations issued thereunder. 
 (e) Substitution
of Awards in Mergers and Acquisitions. Awards may be granted under the Plan from time to time in substitution for awards held by employees, officers, consultants or directors of entities who become or are about to become employees, officers,
consultants or directors of the Company or an Affiliate as the result of a merger or consolidation of the employing entity with 

  
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the Company or an Affiliate, or the acquisition by the Company or an Affiliate of the assets or stock of the employing entity. The terms and conditions of any substitute Awards so granted may
vary from the terms and conditions set forth herein to the extent that the Administrator deems appropriate at the time of grant to conform the substitute Awards to the provisions of the awards for which they are substituted. 

(f) Other Agreements. As a condition precedent to the grant of any Award under the Plan, the exercise pursuant to such an Award or to
the delivery of certificates for shares issued pursuant to any Award, the Administrator may require the grantee or the grantee’s successor or permitted transferee, as the case may be, to become a party to a stock restriction agreement,
stockolders’ agreement, voting trust agreement, voting agreement, right of first refusal agreement, co-sale agreement, lock-up agreement or other agreements regarding the Common Stock of the Company in such form(s) as the Administrator may
determine from time to time in its sole discretion. 
 (g) Termination, Amendment and Modification of the Plan. The Board may
terminate, amend or modify the Plan or any portion thereof at any time. Except as otherwise determined by the Board, termination of the Plan shall not affect the Administrator’s ability to exercise the powers granted to it hereunder with
respect to Awards granted under the Plan prior to the date of such termination. 
 (h) Non-Guarantee of Employment or Service.
Nothing in the Plan or in any Grant Agreement thereunder shall confer any right on an individual to continue in the service of the Company or shall interfere in any way with the right of the Company to terminate such service at any time with or
without cause or notice and whether or not such termination results in (i) the failure of any Award to vest; (ii) the forfeiture of any unvested or vested portion of any Award; and/or (iii) any other adverse effect on the
individual’s interests under the Plan. 
 (i) Compliance with Securities Laws; Listing and Registration. If at any time the
Administrator determines that the delivery of Common Stock under the Plan is or may be unlawful under the laws of any applicable jurisdiction, or Federal, state or foreign securities laws, the right to exercise an Award or receive shares of Common
Stock pursuant to an Award shall be suspended until the Administrator determines that such delivery is lawful. The Company shall have no obligation to effect any registration or qualification of the Common Stock under Federal, state or foreign laws.

 The Company may require that a grantee, as a condition to exercise of an Award, and as a condition to the delivery of any share
certificate, make such written representations (including representations to the effect that such person will not dispose of the Common Stock so acquired in violation of Federal, state or foreign securities laws) and furnish such information as may,
in the opinion of counsel for the Company, be appropriate to permit the Company to issue the Common Stock in compliance with applicable Federal, state or foreign securities laws. The stock certificates for any shares of Common Stock issued pursuant
to the Plan may bear a legend restricting transferability of the shares of Common Stock unless such shares are registered or an exemption from registration is available under the Securities Act of 1933, as amended, and applicable state or foreign
securities laws. 
 (j) No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or
separate fund of any kind or a fiduciary relationship between the Company and a grantee or any other person. To the extent that any grantee or other person acquires a right to receive payments from the Company pursuant to an Award, such right shall
be no greater than the right of any unsecured general creditor of the Company. 

  
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 (k) Governing Law. The validity, construction and effect of the Plan, of Grant Agreements
entered into pursuant to the Plan and of any rules, regulations, determinations or decisions made by the Administrator relating to the Plan or such Grant Agreements, and the rights of any and all persons having or claiming to have any interest
therein or thereunder, shall be determined exclusively in accordance with applicable federal laws and the laws of the State of Alabama, without regard to its conflict of laws principles. 

(l) Effective Date; Termination Date. The Plan is effective on October 25, 2011, subject to any required regulatory approvals and
approval of the shareholders of the Company. If the shareholders of the Company fail to approve the Plan within twelve (12) months of the date on which the Board adopted the Plan, then the Plan shall be null and void, and any Award granted
hereunder shall be canceled. No Award shall be granted under the Plan after the close of business on the day immediately preceding the tenth anniversary of the effective date of the Plan, or, if earlier, the tenth anniversary of the date the Plan is
approved by the shareholders. Subject to other applicable provisions of the Plan, all Awards made under the Plan prior to such termination of the Plan shall remain in effect until such Awards have been satisfied or terminated in accordance with the
Plan and the terms of such Awards. 
 (m) Code Section 409A. The Awards granted herein are intended to be exempt from or
otherwise comply with Code section 409A. To the extent an Award is subject to Code section 409A, the terms and conditions of the Award shall comply with Code section 409A and any guidance and regulations issued thereunder and shall be
interpreted, operated and administered accordingly. Notwithstanding any provision of the Plan or a Grant Agreement to the contrary, the Company reserves the right to amend any Award as the Company deems necessary or desirable to avoid the imposition
of taxes or penalties under Code section 409A. In any case, a recipient shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on such recipient in connection with an Award (including any taxes and
penalties under Code section 409A), and neither the Company nor any of its Affiliates shall be liable for any such taxes or penalties or have any obligation to indemnify or otherwise hold such recipient harmless from any or all such taxes or
penalties. 

  
 10EX-10.2

 Exhibit 10.2 

NATIONAL COMMERCE CORPORATION 

DEFERRAL OF COMPENSATION PLAN 

(Effective February 28, 2012) 

 TABLE OF CONTENTS 
  

							
	 ARTICLE I
	 	    PURPOSE AND ADOPTION OF PLAN	  	 	1	  
		
	 1.1         Adoption
	  	 	1	  
	 1.2         Purpose
	  	 	1	  
			
	 ARTICLE II
	 	    DEFINITIONS	  	 	1	  
			
	 ARTICLE III
	 	    ELIGIBILITY AND PARTICIPATION	  	 	4	  
		
	 3.1         Participation.
	  	 	4	  
	 3.2         Modification of Eligibility Criteria.
	  	 	4	  
	 3.3         Discontinuance of Participation Upon a Separation from
Service.
	  	 	4	  
			
	 ARTICLE IV
	 	    ELECTION FOR DEFERRAL OF PAYMENT	  	 	4	  
		
	 4.1         Participant Deferrals.
	  	 	4	  
	 4.2         Account.
	  	 	4	  
	 4.3         Timing and Effect of Deferral Election.
	  	 	5	  
	 4.4         Cancellation of Deferral Election.
	  	 	6	  
	 4.5         Distribution Election - Form and Timing of Payments.
	  	 	6	  
			
	 ARTICLE V
	 	    CREDITING AND DEBITING OF ACCOUNTS	  	 	6	  
		
	 5.1         Interest Credit.
	  	 	6	  
	 5.2         Debits.
	  	 	6	  
	 5.3         Reports.
	  	 	7	  
			
	 ARTICLE VI
	 	    DISTRIBUTION OF ACCOUNTS	  	 	7	  
		
	 6.1         General Distribution Provision.
	  	 	7	  
	 6.2         Separation from Service.
	  	 	7	  
	 6.3         Death.
	  	 	7	  
	 6.4         Unforseeable Emergency Distribution.
	  	 	7	  
	 6.5         Change in Control.
	  	 	7	  
	 6.6         Installment Payments.
	  	 	7	  
	 6.7         Distribution to Specified Employee.
	  	 	8	  
	 6.8         Domestic Relations Order
	  	 	8	  
			
	 ARTICLE VII
	 	    ADMINISTRATION OF PLAN	  	 	8	  
		
	 7.1         Authority of Administrator.
	  	 	8	  
	 7.2         Expense Reimbursement
	  	 	8	  
	 7.3         Duties
	  	 	8	  
	 7.4         Claim for Benefits
	  	 	9	  
			
	 ARTICLE VIII
	 	    MISCELLANEOUS PROVISIONS	  	 	10	  
		
	 8.1         Benefits Not Assignable.
	  	 	10	  
	 8.2         General Assets/Unfunded Plan.
	  	 	10	  

  
 i 

							
	 8.3         Amendment and Termination of the Plan.
	  	 	10	  
	 8.4         No Effect on Other Benefits.
	  	 	11	  
	 8.5         Tax Withholding.
	  	 	11	  
	 8.6         Indebtedness.
	  	 	11	  
	 8.7         No Contract of Service Employment or Service.
	  	 	11	  
	 8.8         Notice.
	  	 	11	  
	 8.9         Governing Law.
	  	 	11	  
	 8.10       Binding Effect.
	  	 	11	  
	 8.11       Aggregation of Employers
	  	 	11	  
	 8.12       Beneficiary Designation.
	  	 	12	  
	 8.13       Section 409A
	  	 	12	  

  
 ii 

 NATIONAL COMMERCE CORPORATION 

DEFERRAL OF COMPENSATION PLAN 

ARTICLE I 
 PURPOSE AND
ADOPTION OF PLAN 
 1.1 Adoption. National Commerce Corporation, an Alabama corporation (the “Company”), hereby
establishes, effective as of February 28, 2012 (“Effective Date”), the National Commerce Corporation Deferral of Compensation Plan (the “Plan”). 

1.2 Purpose. The Plan is designed to permit Eligible Individuals who contribute materially to the continued growth, development and
future business success of the Company to elect to defer payment of certain forms of Deferrable Compensation. The Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. The Plan is intended to comply with the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended. Further, the Plan is intended to be a non-qualified “top-hat” plan of deferred compensation, as described under ERISA Sections 201(2), 301(a)(3) and 401(a)(1). 

ARTICLE II 
 DEFINITIONS

 For purposes of the Plan, the following terms shall have the following meanings unless a different meaning is plainly required by the
context: 
 2.1 “Account” shall mean the account established and maintained by the Company for bookkeeping purposes to
reflect the interest of a Participant or his or her Beneficiary in the Plan and may consist of subaccounts for different types of Deferrable Compensation deferred by the Participant. An Account 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 Beneficiary under this Plan. 

2.2 “Administrator” shall mean the Board or the committee(s) or officer(s) appointed by the Board that have authority to
administer the Plan as provided in Article VII hereof. 
 2.3 “Affiliate” shall mean any entity, whether now or hereafter
existing, which controls, is controlled by, or is under common control with, the Company. For this purpose, “control” means ownership of 50% or more of the total combined voting power or value of all classes of stock or interests of the
entity. 
 2.4 “Alternate Payee” shall be as defined in Section 6.8. 

2.5 “Average Daily Balance” shall be as defined in Section 5.1. 

2.6 “Beneficiary” shall mean any person, estate, trust, or organization designated by a Participant pursuant to
Section 8.12, on a form provided by the Administrator for this purpose, to receive the Participant’s remaining Account balance under this Plan in the event of the Participant’s death prior to receiving complete payment of his or her
Account. 
 2.7 “Board” shall mean the board of directors of the Company. 

2.8 “Change in Control” shall mean (i) a change of ownership of the Company as defined in Regulation
§ 1.409A-3(i)(5)(v), (ii) a change in effective control of the Company as defined in Regulation § 1.409A-3(i)(5)(vi), or (iii) a the change in ownership of a substantial portion of the assets of the Company as defined in
Regulation § 1.409A-3(i)(5)(vii). 

  
 Page 1 of 13 

 2.9 “Claimant” shall be as defined in Section 7.6(a)(1). 

2.10 “Code” shall mean the Internal Revenue Code of 1986, as amended, including any successor statute. 

2.11 “Common Stock” shall mean shares of common stock of the Company, par value of $1.00 per share. 

2.12 “Company” shall be as defined in Section 1.1, yet including any successor to substantially all of its business
and/or assets which becomes bound by the terms and provisions of this Plan by agreement or operation of law. 
 2.13 “Deferrable
Compensation” shall mean, as designated by the Board from time to time, any form of compensation to be paid by the Company or one of its Affiliates to an Eligible Individual which may include, but is not limited to, (i) grants made
under the Company’s Equity Incentive Plan, or any subplan thereof, (ii) regular bonuses, (iii) incentive bonuses, and (iv) with respect to Eligible Directors, directors’ fees, but shall exclude salary or such other
regular wages paid to Employees. 
 2.14 “Deferral Election” shall mean the Participant’s written election to defer
all or a portion of his or her Deferrable Compensation pursuant to Articles III and IV below. 
 2.15 “Director” shall mean
each member of the Board as well as each member of the board of directors of any Affiliate. 
 2.16 “DRO” shall be as
defined in Section 6.8. 
 2.17 “Effective Date” shall be as defined in Section 1.1. 

2.18 “Eligible Director” shall mean a Director whom the Board designates as eligible to participate in this Plan. 

2.19 “Eligible Employee” shall mean an Employee whom the Board (i) determines is a member of a “select group of
management or highly compensated employee” under ERISA Section 201(2), and (ii) designates as eligible to participate in this Plan. 

2.20 “Eligible Individual” shall mean any Eligible Director or Eligible Employee. 

2.21 “Employee” shall mean any person who is currently employed by the Company or any Affiliate of the Company. 

2.22 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

2.23 “Fair Market Value” shall mean, with respect to a share of Common Stock (or a Common Stock equivalent, as applicable)
for any purpose on a particular date, the value determined by the Administrator in good faith in accordance with Section 409A. 

However, if the Common Stock is registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended, and listed
for trading on a national exchange or market, “Fair Market 

  
 Page 2 of 13 

 
Value” shall mean, as applicable, (i) either the closing price or the average of the high and low sale price on the relevant date, as determined in the Administrator’s discretion,
quoted on the New York Stock Exchange, the American Stock Exchange, the Nasdaq Global Select Market or the Nasdaq Global Market, (ii) the last sale price on the relevant date quoted on the Nasdaq Capital Market, (iii) the average of the
high bid and low asked prices on the relevant date quoted on the Nasdaq OTC Bulletin Board Service or by the National Quotation Bureau, Inc. or a comparable service as determined in the Administrator’s discretion, or (iv) if the Common
Stock is not quoted by any of the above, the average of the closing bid and asked prices on the relevant date furnished by a professional market maker for the Common Stock, or by such other source, selected by the Administrator. If no public trading
of the Common Stock occurs on the relevant date but the shares are so listed, then Fair Market Value shall be determined as of the next preceding date on which trading of the Common Stock does occur. 

For all purposes under the Plan, the term “relevant date” as used in this Section 2.23 means either the date as of which Fair
Market Value is to be determined or the next preceding date on which public trading of the Common Stock occurs, as determined in the Administrator’s discretion. 

2.24 “Participant” shall mean an Eligible Individual who participates, or participated, in this Plan and has an Account
balance. Unless otherwise indicated, references to a Participant also shall include a former Participant who no longer actively participates in the Plan, but has an Account balance. 

2.25 “Performance-Based Compensation” shall generally mean compensation the amount of which, or the entitlement to which, is
contingent on the satisfaction of preestablished organizational or individual performance criteria relating to a performance period of at least twelve (12) consecutive months, as more specifically defined in Regulation § 1.409A-1(e).
Organizational or individual performance criteria are considered preestablished if established in writing by not later than ninety (90) days after the commencement of the period of service to which the criteria relate, provided that the outcome
is substantially uncertain at the time the criteria are established. 
 2.26 “Plan” shall mean this National Commerce
Corporation Deferral of Compensation Plan, as amended from time to time. 
 2.27 “Plan Year” shall mean the twelve
(12) month period commencing January 1 and ending on the following December 31, except however the initial Plan Year shall be a short Plan Year commencing on February 28 and ending on the following December 31. 

2.28 “Regulation” shall mean a regulation established under the Code of Federal Regulations, as may be amended from time to
time. 
 2.29 “Section 409A” shall mean Code Section 409A and the Regulations or other authoritative guidance
promulgated thereunder. 
 2.30 “Separation from Service” shall mean a Participant’s Separation from Service within
the meaning of Regulation § 1.409A-1(h), excluding separation due to death. 
 2.31 “Specified Employee” shall
mean, as set forth in Regulation § 1.409A-1(i), an employee of a company, any stock of which is publicly traded on an established securities market or otherwise, who, at anytime during the twelve (12) month period ending on
December 31 of the Plan Year, is a key employee, as currently defined in Code Section 416(i)(1)(A)(i), (ii) or (iii) (without regard to Code Section 416(i)(5)) to mean, (i) an officer of the company having annual
compensation greater than one-hundred sixty-five thousand dollars ($165,000) for 2012 (as adjusted under Code Section 416(i)(1)); (ii) a five-percent (5%) owner of the company; or (iii) a one-percent (1%) owner of the
company having an 

  
 Page 3 of 13 

 
annual compensation from the company of more than one-hundred and fifty-thousand dollars ($150,000). Any such employee shall be treated as a Specified Employee for the twelve (12) month
period commencing the following April 1. A Specified Employee also shall be determined in accordance with Regulation § 1.409A-1(i)(6) and any Specified Employee policy that may be adopted by the Company. 

2.32 “Trust” shall be as defined in Section 8.2. 

2.33 “Unforeseeable Emergency” shall mean (i) a severe financial hardship to the Participant resulting from an illness
or accident of the Participant, the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to Section 152(b)(1), (b)(2), and (d)(1)(B)),
(ii) loss of the Participant’s property due to casualty, or (iii) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, determined in accordance with
Regulation § 1.409A-3(i)(3). 
 ARTICLE III 

ELIGIBILITY AND PARTICIPATION 

3.1 Participation. Any Eligible Individual may elect to become a Participant by executing a Deferral Election on a form provided by the
Administrator, pursuant to which he or she elects to defer Deferrable Compensation in accordance with Article IV below. 
 3.2
Modification of Eligibility Criteria. Subject to any Section 409A limitations, the Board may modify the eligibility requirements and rescind the eligibility of any Eligible Individual or Participant if necessary to insure that the Plan,
with respect to Eligible Employees, is maintained primarily for the purpose of providing deferred compensation to a select group of management or highly compensated employees under ERISA. 

3.3 Discontinuance of Participation Upon a Separation from Service. In the event that a Participant experiences a Separation from
Service, he or she may no longer actively participate in this Plan even if such Participant remains employed by the Company, unless such Participant is participating in the Plan as an Eligible Director. 

ARTICLE IV 
 DEFERRALS

 4.1 Participant Deferrals. In accordance with Section 4.3 below, an Eligible Individual may elect to defer Deferrable
Compensation, with such deferred amount being credited to his or her Account under the Plan. In the event that an Eligible Individual elects to defer issuance or payment of Common Stock or Common Stock equivalents, the amount credited to the
Participant’s Account at the time of the deferral shall be an amount equal to the number of shares of Common Stock or Common Stock equivalents to otherwise be issued/paid to the Participant multiplied by the Fair Market Value of each such
share. Amounts credited to the Participant’s Account are always 100% vested. 
 Termination of participation in the Plan shall not
affect Deferrable Compensation previously deferred by a Participant under the Plan. 
 4.2 Account. An Account shall be established
for each Participant by the Company as of the effective date of such Participant’s initial Deferral Election. The Participant’s Account shall be credited, on a periodic basis as determined by the Administrator, with the Deferrable
Compensation that he or she has deferred under the Plan as well as with any debits or credits in accordance with Section 5.1. 

  
 Page 4 of 13 

 4.3 Timing and Effect of Deferral Election. 

(a) Deferral Election – General Rule. Except as otherwise set forth herein or as otherwise set forth in
Section 409A, an Eligible Individual must make a Deferral Election with respect to Deferrable Compensation no later than the first day of the month prior to the next succeeding Plan Year in which the services will be performed that give rise to
the Deferrable Compensation (or such later date as the Administrator may determine, not to be later than the last day of the month prior to such next succeeding Plan Year) and shall be effective as of the first day of such succeeding Plan Year. 

(b) First Year of Eligibility Deferral Election. Notwithstanding Section 4.3(a) above and subject to
Section 8.11, with respect to an Eligible Individual’s first year of eligibility under the Plan, an Eligible Individual may make a Deferral Election with respect to amounts not yet earned within thirty (30) days after the date
said Eligible Individual first became eligible to participate in the Plan. In the event a Deferral Election is made under this Section 4.3(b), but such Deferral Election is made after the beginning of a performance period (for example, a
Deferral Election pertaining to a current year annual bonus), the Deferral Election must apply only to the Deferrable Compensation paid for services performed after the Deferral Election. For this purpose, a Deferral Election will be deemed to apply
to Deferrable Compensation paid for services performed after the Deferral Election if it applies to no more than an amount equal to the total amount of the Deferrable Compensation for the performance period multiplied by the ratio of the number of
days remaining in the performance period after the Deferral Election over the total number of days in the performance period. 

(c) Initial Deferral Election with Respect to Performance-Based Compensation. Notwithstanding Section 4.3(a) above,
with respect to Performance-Based Compensation, an Eligible Individual may make an initial Deferral Election on or before the date that is six (6) months before the end of the performance period, provided that the Eligible Individual performs
services continuously from the later of (i) the beginning of the performance period or (ii) the date the performance criteria are established, through the date the Deferral Election is made, and provided further that in no event may such
Deferral Election be made after such Performance-Based Compensation has become readily ascertainable (determined in accordance with Regulation § 1.409A-2(a)(8)). 

(d) Permanency of Deferral Election. 

(1) Eligible Employees. Except as otherwise provided herein, once a Deferral Election is made by an Eligible Employee
for a particular award or bonus that is Deferrable Compensation, such Deferral Election (i) may not be changed, and (ii) shall apply only to the specific award or bonus deferred (and shall not apply to any similar award or bonus). 

(2) Eligible Directors. In the event that an Eligible Director defers Directors’ fees that are Deferrable
Compensation, such election shall remain in place for the Plan Year in which the services giving rise to the Deferrable Compensation are performed. Accordingly, a Deferral Election for Directors’ fees shall not run from one Plan Year to
another; rather, a new Deferral Election shall be made for each Plan Year’s Directors’ fees in accordance with Section 4.3(a) above (or Section 4.3(c) above, if applicable). In the event there is no such Deferral Election made
for a Plan Year, no fees will be deferred. 

  
 Page 5 of 13 

 4.4 Cancellation of Deferral Election. Notwithstanding any other provisions of the Plan to
the contrary, a Participant’s Deferral Election automatically shall be cancelled in the event that such cancellation is required pursuant to Regulation § 1.401(k)-1(d)(3) (e.g., if required when the Participant receives a hardship
distribution under a 401(k) plan). In the event of a cancellation of a Deferral Election under this Section 4.4, any subsequent Deferral Election hereunder shall not be eligible for deferral under Section 4.3(b) above (i.e., such
Deferral Election shall not be considered to be with respect to his or her first year of eligibility), but shall be eligible for deferral under Section 4.3(a) or as otherwise allowed under Section 409A. 

4.5 Distribution Election – Form and Timing of Payments. Except as otherwise provided, at the time of each Deferral
Election, the Participant shall elect the form of payment to be received and the timing of such payment on a form provided by the Administrator (which may be the same form as the Deferral Election form). All distributions shall be
made in cash. 
 (a) Form of Payment. Subject to Article VI and Section 8.3, the form of payment for Deferrable
Compensation subject to each Deferral Election must be either (i) a lump sum or (ii) substantially equal annual installments payable over a period not to exceed ten (10) years. In the event that a Participant fails to elect a form of
payment, distribution shall be made in a lump sum. Different forms of payment may be elected with respect to Deferral Elections for each award, bonus or fee deferred. 

(b) Timing of Payment. Subject to Article VI and Section 8.3, for Deferrable Compensation subject to each Deferral
Election, a Participant must select a specific date on which to be paid, or begin payments, as applicable. In the event that a Participant fails to elect a time of payment, distribution shall be made within thirty (30) days of the earlier of a
Change in Control or within thirty (30) days of the date of the Participant’s Separation from Service. Different times of payment may be elected with respect to Deferral Elections for each award, bonus or fee deferred. 

(c) Permanency of Distribution Election. Once a distribution election is made for a particular award, bonus or fee that
is Deferrable Compensation, such election (i) may not be changed, and (ii) only applies to the specific award, bonus or fee deferred (and shall not apply to any similar award, bonus, or fee). 

ARTICLE V 
 CREDITING AND
DEBITING OF ACCOUNTS 
 5.1 Interest Credit. Interest, at the rate described below, on the Average Daily Balance (computed as
described below) shall be credited to the Account of each Participant as of the last day of each calendar month until the total balance in the Participant’s Account has been paid out in accordance with the provisions of Article VI hereof. The
interest rate for each calendar month shall be the 30-Day London Interbank Offered Rate (LIBOR) plus 75 basis points for the last business day of the immediately preceding calendar month as published in The Wall Street Journal. The “Average
Daily Balance” shall be the quotient obtained by dividing the sum of the closing balance in the Account at the end of each calendar day in a calendar month by the number of days in such calendar month. 

5.2 Debits. Each Account shall be debited by the amount of any distribution made to the Participant or his or her Beneficiary pursuant
to this Plan. 

  
 Page 6 of 13 

 5.3 Reports. At the end of each Plan Year (or on a more frequent basis as determined by
the Administrator), a report may be issued to each Participant who has an Account setting forth the value of such Account. 
 ARTICLE VI

 DISTRIBUTION OF ACCOUNTS 

6.1 General Distribution Provision. Except as otherwise set forth herein, a Participant shall be paid or begin to be paid, as
applicable, the balance in his or her Account within thirty (30) days of the date elected by the Participant pursuant to Section 4.5. 

6.2 Separation from Service. Notwithstanding any Deferral Election by a Participant to be paid at a later date or in a different form,
a Participant shall be paid any outstanding Account balance in a lump sum within thirty (30) days of the date of his or her Separation from Service. 

6.3 Death. Notwithstanding any Deferral Election by a Participant to be paid at a later date or in a different form, upon the death of
a Participant prior to payment of his or her entire Account, the Account balance shall be paid in a lump sum to the Beneficiary of the Participant within ninety (90) days of the Participant’s death. 

6.4 Unforeseeable Emergency Distribution. In the event of an Unforeseeable Emergency, a Participant may make a written request to the
Administrator for the distribution of all or any portion of his or her Account. The Administrator shall consider the relevant facts and circumstances of each such case and shall have the right, in its sole discretion, if applicable, to allow such
distribution, or, if applicable, to direct a distribution of part of the amount requested or to refuse to allow any distribution. In no event shall the aggregate amount of the distribution exceed the lesser of either (i) the Participant’s
Account, or (ii) the amount determined by the Administrator to be reasonably necessary to satisfy the Participant’s Unforeseeable Emergency (which Unforeseeable Emergency may be considered to include any taxes due because of the
distribution occurring under this Section 6.4). A distribution may not be made under this Section 6.4 to the extent that an Unforeseeable Emergency is or may be relieved through reimbursement or compensation from insurance or otherwise, or
liquidation of the Participant’s assets, to the extent the liquidation of such assets would not cause severe financial hardship. A distribution may be made under this Section 6.4 only with the written consent of the Administrator and the
distribution shall be made within thirty (30) days of the date that the Administrator determines that an Unforeseeable Emergency has occurred and has determined the proper amount of the distribution. If a Participant is receiving installment
payments, he or she may still receive a distribution under this Section 6.4. 
 6.5 Change in Control. Notwithstanding any
Deferral Election by a Participant to be paid at a later date or in a different form, a Participant shall be paid any outstanding Account balance in a lump sum within thirty (30) days of the date of a Change in Control. 

6.6 Installment Payments. If a benefit is to be paid in installments pursuant to Section 4.5(a), the amount of each installment to
be paid during the calendar year in which payment begins shall be equal to (i) the total amount payable to the Participant as of his or her first payment date divided by (ii) the total number of installment payments to be made. As of each
anniversary date following the first payment date of each subsequent calendar year during the installment payment period, the amount of each installment to be paid during such calendar year shall be recalculated, and shall be equal to (i) the
remaining amount payable to the Participant as of such anniversary date divided by (ii) the number of installment payments remaining to be made during and after such subsequent calendar year. The final installment payment shall be equal to the
remaining amount payable to the Participant which was subject to the installment payment election. 

  
 Page 7 of 13 

 6.7 Distribution to Specified Employee. Notwithstanding any other provision of the Plan to
the contrary, to the extent that a Participant is a Specified Employee and the Participant’s Separation from Service is for any reason other than death, distributions may not be made before the date which is six (6) months after the date
of the Separation from Service. Payments to which the Participant would otherwise be entitled during such 6-month period shall be accumulated and paid in a lump sum on the first day of the seventh month after the date of his or her Separation from
Service. 
 6.8 Domestic Relations Order. Notwithstanding the foregoing or any provision of the Plan to the contrary, in the event
that a domestic relations order (“DRO”), as defined in Code Section 414(p)(1)(B), requires an acceleration of the time or schedule of a payment to an individual other than the Participant (“Alternate Payee”), the payment
shall be made to the Alternate Payee as soon as administratively practicable after the Administrator approves such DRO, to the extent permitted under Regulation § 1.409A-3(j)(4)(ii). In no event shall a DRO alter the time or form of payment
with respect to the Participant. The Alternate Payee shall be subject to withholding and liable for any taxes resulting from a distribution under this Section 6.8 in accordance with applicable law and Internal Revenue Service guidance. 

ARTICLE VII 

ADMINISTRATION OF PLAN 

7.1 Authority of Administrator. The Administrator shall administer the Plan in accordance with its terms and shall have all powers
necessary to carry out the provisions of the Plan more particularly set forth herein. It shall interpret the Plan and shall determine all questions arising in the administration, interpretation and application of the Plan. Any such determination by
it shall be conclusive and binding on all persons. It may adopt such rules and policies as it deems desirable for the conduct of its affairs. It may appoint such accountants, counsel, actuaries, specialists and other persons as it deems necessary or
desirable in connection with the administration of the Plan, and shall be the agent for the service of process. The Administrator shall not receive any compensation for its services. 

7.2 Expense Reimbursement. The Administrator shall be reimbursed by the Company for any reasonable expenses incurred by it in the
fulfillment of its duties. Such expenses shall include any expenses incident to its functioning, including, but not limited to, fees of accountants, counsel, actuaries, and other specialists, and other costs of administering the Plan. 

7.3 Duties. 

(a) The Administrator shall be responsible for the daily administration of the Plan. It may appoint other persons or entities
to perform any of its functions. The Administrator shall review the work and performance of each such appointee, and shall have the right to remove any such appointee from his or her position. 

(b) The Administrator shall maintain accurate and detailed records and accounts of Participants and of their rights under the
Plan and of all receipts, disbursements, transfers and other transactions concerning the Plan, which will include records of each Participant’s deferral and payment elections with respect to each deferred award, bonus and/or fees, each of which
may have a different timing and form of payment. Such accounts, books and records relating thereto shall be open at all reasonable times to inspection and audit by the Board and by persons designated thereby. 

(c) The Administrator shall take all steps necessary to ensure that the Plan complies with applicable law at all times. These
steps shall include such items as the preparation and filing 

  
 Page 8 of 13 

 
of all documents and forms required by any governmental agency; maintaining of adequate Participants’ records; withholding of applicable taxes and filing of all required tax forms and
returns; recording and transmission of all notices required to be given to Participants and their Beneficiaries; the receipt and dissemination, if required, of all reports and information received from the Company; and doing such other acts
necessary for the proper administration of the Plan. The Administrator shall keep a record of all of its proceedings and acts, and shall keep all such books of account, records and other data as may be necessary for proper administration of the
Plan. The Administrator shall notify the Company upon its request of any action taken by it, and when required, shall notify any other interested person or persons. 

7.4 Claims for Benefits. 

(a) Claims Procedure. 

(1) A claim for any benefit shall be made in writing to the Administrator. The Administrator may require the Claimant (the
filer of a claim is referred to as a “Claimant”) to furnish such information as may reasonably be needed to reach a decision regarding the claim. 

(2) To the extent that an adverse benefit determination (a denial) is made with respect to a claim, the Administrator shall
provide the Claimant with written notice of the adverse benefit determination that sets forth: (i) the specific reason(s) for the adverse determination, (ii) a reference to the Plan provisions on which the determination is based,
(iii) a description of any additional information necessary to perfect the claim and an explanation of why such information is necessary, and (iv) a description of the claims review procedure under Section 7.4(b) and the applicable
time limits, including a statement of the Claimant’s right to bring a civil action under ERISA Section 502 following an adverse benefit determination on review. 

(3) Written notice of a denial shall be provided to the Claimant not later than ninety (90) days after the Plan’s
receipt of the Claimant’s claim. If an extension of time for processing the claim is required due to special circumstances, the Administrator shall provide written notice of the extension to the Claimant prior to the termination of the initial
90-day period that indicates the special circumstances and the date by which the Administrator expects to render a decision. In no event shall such an extension exceed ninety (90) days from the end of the initial 90-day period. 

(4) The period of time within which a benefit determination is required to be made shall begin at the time a claim is filed,
without regard to whether all the information necessary to make a benefit determination accompanies the filing. 
 (b)
Claims Review Procedure. 
 (1) A Claimant may, within sixty (60) days following receipt of an initial adverse
benefit determination issued under Section 7.4(a), appeal in writing to the Administrator to request a review. The Administrator shall allow the Claimant the opportunity to submit written comments, documents, and records and shall take into
account all such information submitted by the Claimant, regardless of whether such information was considered in making the initial benefit determination. Upon request and free of charge, the Claimant shall be provided reasonable access to, and
copies of, all documents, records and other information relevant to the Claimant’s claim. 

  
 Page 9 of 13 

 (2) The Administrator shall provide to the Claimant written notification of the
benefit determination on review that sets forth: (i) the specific reason(s) for the adverse determination, (ii) a reference to the specific Plan provisions on which the determination is based, (iii) 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 to the Claimant’s claim, and (iv) a statement of the Claimant’s right (other than a
Claimant that is a non-Employee Director) to bring a civil action under ERISA Section 502. 
 (3) Written notice of a
benefit determination on review shall be provided to the Claimant not later than sixty (60) days after the Plan’s receipt of the Claimant’s request for review of the adverse benefit determination. If special circumstances require an
extension of time for processing the claim, the Administrator shall provide written notice of the extension to the Claimant prior to the termination of the initial 60-day period that indicates the special circumstances requiring an extension of time
and the date by which the Administrator expects to render a decision. In no event shall an extension exceed a period of sixty (60) days from the end of the initial 60-day period. 

(4) The period of time within which a benefit determination on review is required to be made shall begin at the time an appeal
is filed without regard to whether all the information necessary to make a benefit determination on review accompanies the filing. However, in the event that a period of time is extended due to a Claimant’s failure to submit information
necessary to decide a claim, the period for making the benefit determination on review shall be tolled from the date on which the extension notice is sent to the Claimant until the date on which the Claimant responds to the request for additional
information. 
 ARTICLE VIII 

MISCELLANEOUS PROVISIONS 

8.1 Benefits Not Assignable. Neither the Participant, his or her Beneficiary, nor his or her legal representative shall have any rights
to commute, sell, assign, transfer, place a lien or other encumbrance upon, or otherwise convey the right to receive any payments hereunder, which payments and the rights thereto are expressly declared to be nonassignable and nontransferable. Any
attempt to assign, transfer or otherwise encumber the right to payments under this Plan shall be void and have no effect. 
 8.2 General
Assets/Unfunded Plan. The assets from which Participant’s benefits shall be paid shall at all times be subject to the claims of the creditors of the Company; and a Participant shall have no right, claim or interest to any specific assets.
The Company shall not be obligated to fund its liabilities under the Plan. Notwithstanding the foregoing, the Company may establish a grantor trust (“Trust”) or purchase investments to assist in meeting its obligations hereunder; provided,
however, that in no event shall any Participant have any interest in such Trust or investments other than as an unsecured general creditor of the Company. Further, the Company may purchase a life insurance policy on the life of any Participant in
the Plan, and such Participant shall cooperate with such purchase by undergoing a medical examination or taking such other action as may be necessary to put such insurance into effect. 

8.3 Amendment and Termination of the Plan. Subject to Section 8.13, the Plan may be amended, modified, or terminated by the Board
in its sole discretion at any time and from time to time; provided, however, that no such amendment, modification, or termination shall impair any rights to benefits under the Plan arising or existing prior to such amendment, modification, or
termination. 

  
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Notwithstanding the foregoing, the Board, in its sole discretion, may amend or modify the Plan as is necessary to comply with law, maintain the rights of the Plan as a “top hat” plan of
deferred compensation, as described under ERISA Sections 201(2), 301(a)(3) and 401(a)(1), or to preserve the favorable tax treatment of one or more Accounts under the Plan, each as determined in the sole discretion of the Board. Notwithstanding any
provisions of the Plan to the contrary, if the Board terminates the Plan, Accounts may be paid only if done so in accordance with Regulation § 1.409A-3(j)(4)(ix). Except as otherwise provided for herein or as allowed under
Section 409A, no payment of any Account may be accelerated or delayed. 
 8.4 No Effect on Other Benefits. It is expressly
understood and agreed that the payments made in accordance with the Plan are in addition to any other benefits or compensation to which a Participant may be entitled or for which he or she may be eligible, whether funded or unfunded, by reason of
his of her employment with or provisions of services to the Company or an Affiliate. 
 8.5 Tax Withholding. The Company shall deduct
from each payment under the Plan the amount of any tax (whether federal, state or local income taxes, Social Security taxes, Medicare or other taxes) required by any governmental authority to be withheld and paid by the Company to such governmental
authority for the account of the person entitled to such distribution. 
 8.6 Indebtedness. Anytime in which all or a portion of a
Participant’s Account becomes payable hereunder, such amount may be offset by the amount of any debt owed to the Company, so long as the debt is incurred in the ordinary course of the employment or service relationship, the entire amount of any
reduction in the Participant’s taxable year does not exceed $5,000, and the reduction is made at the same time and in the same amount as the debt otherwise would have been due and collected from the Company. 

8.7 No Contract of Employment or Service. No provision of this Plan shall be construed to affect in any manner the existing rights of
the Company to suspend, terminate, alter, and modify, whether or not for cause, the employment or service relationship of the Participant and the Company. 

8.8 Notice. Any notice, consent or demand required or permitted to be given under the provisions of this Plan shall be in writing, and
shall be signed by the party giving or making the same. If such notice, consent or demand is mailed, it shall be sent by United States certified mail, postage prepaid. The date of such mailing shall be deemed the date of notice, consent or demand.
With respect to a Participant, any notice, consent or demand shall be addressed to the Participant’s last known address as shown on the records of the Company. With respect to the Company, Administrator or the Board, any notice, consent or
demand shall be addressed to 5 Inverness Center Parkway, Birmingham, Alabama 35242. Any party may change the address to which notice is to be sent by giving notice of the change of address in the manner aforesaid. 

8.9 Governing Law. To the extent state law is not preempted by ERISA, this Plan, and all rights hereunder, shall be governed by and
construed in accordance with the laws of the State of Alabama, without regard to or application of the principles of conflicts of laws thereof. 

8.10 Binding Effect. This Plan shall be binding upon the Company, its assigns, and any successor which shall succeed to substantially
all of its assets and business through merger, consolidation or acquisition, as well as upon the Participants, their heirs and Beneficiaries. 

8.11 Aggregation of Employers/Plans. To the extent required under Section 409A, if the Company is a member of a controlled group
of corporations or a group of trades or businesses under common control (as described in Code Section 414(d) or (c)), all members of the group shall be treated as 

  
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a single company for purposes of determining whether a Separation from Service has occurred and for any other purpose under the Plan as required by Section 409A. Similarly, to the extent
required under Section 409A, this Plan shall be aggregated with other similar plans (e.g., for purposes of determining the applicability of the “First Year of Eligibility Election” rules under Section 4.3(b)). 

8.12 Beneficiary Designation. A Participant may designate a Beneficiary(ies) (which Beneficiary may be an entity other than a natural
person) to receive any payments that may be made following the Participant’s death. Such designation may be changed or canceled at any time without the consent of any such Beneficiary. Any such designation, change or cancellation must be made
on a form approved provided by the Administrator and shall not be effective until received by the Administrator. If no Beneficiary has been named, or the designated Beneficiary(ies) shall have predeceased the Participant, the Beneficiary shall be
the Participant’s spouse or, if no spouse survives the Participant, then the Participant’s estate. If the Participant designates more than one Beneficiary, the rights of such Beneficiaries shall be payable in equal shares, unless the
Participant has designated otherwise. 
 8.13 Section 409A. The Plan is intended to comply with Section 409A.
Notwithstanding any provision of this Plan to the contrary, the Company reserves the right to amend the Plan as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A. In any case, the
Participant (or his or her Beneficiary, as applicable) shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on the Participant or Beneficiary in connection with the Plan (including any taxes and
penalties under Section 409A), and neither the Company nor any of its Affiliates shall be liable for any such taxes or penalties or have any obligation to indemnify or otherwise hold anyone harmless from any or all such taxes or penalties. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Plan has been executed as of this 28th day of February 2012. 
  

			
	NATIONAL COMMERCE CORPORATION
		
	By:	 	         /s/ Richard Murray, IV

		
	Its:	 	         President and Chief Operating Officer

  
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