Document:

Unassociated Document

    
      
        

      

      Exhibit
10-a

      

      

      EXECUTIVE DEFERRAL
PLAN

      

      

      OF

      

      

      TRUSTMARK NATIONAL BANK,
JACKSON, MISSISSIPPI

      

      

      As
Restated Effective as of December 31, 2007

      (Group
2)

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      EXECUTIVE DEFERRAL
PLAN

      

      OF

      

      TRUSTMARK NATIONAL BANK,
JACKSON, MISSISSIPPI

      

      As
Restated Effective as of December 31, 2007

      (Group
2)

      

      

      PURPOSE
AND EFFECTIVE DATE

      

      The
purpose of the Executive Deferral Plan of Trustmark National Bank, Jackson,
Mississippi is to provide specified benefits to a select group of
management and highly compensated Employees who contribute materially to the
continued growth, development and future business success of Trustmark National Bank, Jackson,
Mississippi.  It is the intention of Trustmark National Bank, Jackson,
Mississippi that this program and the individual plans established
hereunder be administered as unfunded benefit plans established and maintained
for a select group of management or highly compensated Employees.  The
effective date of this Plan is January 1, 1994.  This Plan was
last restated effective January 1, 1996.  This Plan is further
amended and restated as of December 31, 2007 in order to comply, where
applicable, with the requirements of Code Section 409A (as defined
below).

      

      ARTICLE I

      

      DEFINITIONS AND
CONSTRUCTION

      

      
        	
                1.1

              	
                Definitions.  For
      purposes of this Plan, the following phrases or terms shall have the
      indicated meanings unless otherwise clearly apparent from the
      context:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                "Actuarially
      Reduced" shall mean the present value of Participant's Retirement
      Benefit as set forth in Item 3(a) of his or her Plan Agreement at the
      time of Participant's Early Retirement Date (or other applicable time)
      using a discount rate equal to the Aa Corporate Bond Rate as published by
      Moody's Investors Services, Inc. or its successor as of the date of Early
      Retirement (or other applicable
date).

              

      

      

      
        	
                 
      

              	
                (b)

              	
                "Bank" shall
      mean Trustmark National
      Bank, Jackson, Mississippi and any Subsidiary that duly adopts the
      Plan as provided in Article XIV hereof.  Where the context
      dictates, the term "Bank" as used herein refers to the particular Bank
      that has entered into a Plan Agreement with a particular
      Participant.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                "Beneficiary"
      shall mean the person, persons or estate of a Participant, entitled to
      receive any benefits subsequent to the death of a Participant under a Plan
      Agreement entered into in accordance with the terms of this
      Plan.

              

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (d)

              	
                "Beneficiary
      Designation" shall mean the form of written agreement, attached
      hereto as Annex II, by which the Participant names the Beneficiary(ies) of
      the Plan.

              

      

      

      
        	
                 
      

              	
                (e)

              	
                "Board of
      Directors" shall mean the Board of Directors of Trustmark National Bank,
      Jackson, Mississippi unless otherwise indicated or the context
      otherwise requires.

              

      

      

      
        	
                 
      

              	
                (f)

              	
                "Code" shall
      mean the Internal Revenue Code of 1986, as the same may be amended from
      time to time, or the corresponding Section of any subsequent Internal
      Revenue Code, and, to the extent not inconsistent therewith, regulations
      issued thereunder.

              

      

      

      
        	
                 
      

              	
                (g)

              	
                "Committee"
      shall mean the Human Resources Committee of the Board of Directors of the
      Holding Company (or any successor committee thereto) or any other
      committee appointed by the Board of Directors of the Bank in lieu thereof
      to manage and administer the Plan and individual Plan Agreements in
      accordance with the provisions of Article XII
  hereof.

              

      

      

      
        	
                 
      

              	
                (h)

              	
                "Covered Salary"
      shall mean the amount specified in Item 1 of the Plan Agreement that
      is used as a basis for computation of Participant's Death and Retirement
      Benefits pursuant to the terms and conditions of the
  Plan.

              

      

      

      
        	
                 
      

              	
                (i)

              	
                "Death Benefit"
      shall mean the benefit provided under Article III of the
      Plan.

              

      

      

      
        	
                 
      

              	
                (j)

              	
                "Disability" or
      "Disabled" shall mean that a Participant is disabled as provided in
      Section 3.8.

              

      

      

      
        	
                 
      

              	
                (k)

              	
                "Early Retirement
      Date" shall be the first day of the month next following the date
      of a Participant's Retirement prior to his or her Normal Retirement Date
      and following the month in which the Participant attains his or her
      fifty-fifth (55th) birthday and has completed five (5) full years of
      continuous employment as an Employee of the Bank commencing on the date of
      his or her commencement of participation in the
  Plan.

              

      

      

      
        	
                 
      

              	
                (l)

              	
                "Election to
      Participate" shall mean the form of written agreement that will be
      executed and entered into between a Participant and the Bank specifying
      the amount of annual compensation to be deferred immediately following the
      date of execution of said "Election to Participate" and continuing
      thereafter under the terms of the
Plan.

              

      

      

      
        	
                 
      

              	
                (m)

              	
                "Employee" shall
      mean any person who is in the full time employment of the Bank or a
      Subsidiary, as determined by the personnel rules and practices of the Bank
      or the Subsidiary.

              

      

      

      
        	
                 
      

              	
                (n)

              	
                “Employer(s)”
      shall be defined as follows:

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (1)

              	
                Except
      as otherwise provided in part (2) below, the term “Employer” shall mean
      the Bank and/or any Subsidiary (now in existence or hereafter formed or
      acquired) that duly adopts the Plan as provided in Article XIV
      hereof.

              

      

      

      
        	
                 
      

              	
                (2)

              	
                For
      the purpose of determining whether a Participant has experienced a
      Separation from Service, the term “Employer” shall
  mean:

              

      

      

      
        	
                 
      

              	
                (A)

              	
                The
      entity for which the Participant performs services and with respect to
      which the legally binding right to compensation deferred or contributed
      under this Plan arises; and

              

      

      

      
        	
                 
      

              	
                (B)

              	
                All
      other entities with which the entity described above would be aggregated
      and treated as a single employer under Code Section 414(b)
      (controlled group of corporations) and Code Section 414(c) (a group
      of trades or businesses, whether or not incorporated, under common
      control), as applicable.  In order to identify the group of
      entities described in the preceding sentence, the Committee shall use an
      ownership threshold of at least eighty percent (80%) when applying, the
      applicable provisions of (i) Code Section 1563 for determining a
      controlled group of corporations under Code Section 414(b), and (ii)
      Treas. Reg. §1.414(c)-2 for determining the trades or businesses that are
      under common control under Code
  Section 414(c).

              

      

      

      
        	
                 
      

              	
                (o)

              	
                “ERISA” shall
      mean the Employee Retirement Income Security Act of 1974, as it may be
      amended from time to time, and, to the extent not inconsistent therewith,
      regulations issued thereunder.

              

      

      

      
        	
                 
      

              	
                (p)

              	
                "Holding
      Company" shall mean Trustmark
  Corporation.

              

      

      

      
        	
                 
      

              	
                (q)

              	
                "Just Cause"
      shall mean theft, fraud, embezzlement or willful misconduct causing
      significant property damage to the Bank, the Holding Company or any
      Subsidiary or personal injury to another
  employee.

              

      

      

      
        	
                 
      

              	
                (r)

              	
                "Normal Retirement
      Date" shall be the first day of the month following the month in
      which the Participant attains his or her sixty-fifth (65th)
      birthday.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (s)

              	
                "Participant"
      shall mean an Employee who is selected and elects to participate in the
      Plan through the execution of a Plan Agreement in accordance with the
      provisions of Article II.

              

      

      

      
        	
                 
      

              	
                (t)

              	
                "Plan" shall
      mean the Executive Deferral Plan of Trustmark National Bank,
      Jackson, Mississippi as amended from time to
  time.

              

      

      

      
        	
                 
      

              	
                (u)

              	
                "Plan Agreement"
      shall mean the form of written agreement, attached hereto as Annex I,
      which is entered into from time to time by and between the Bank and an
      Employee selected to become a Participant as a condition to participation
      in the Plan.  Each Plan Agreement executed by a Participant
      shall provide for the entire benefit to which such Participant is entitled
      under the Plan, and the Plan Agreement bearing the latest date shall
      govern such entitlement.

              

      

      

      
        	
                 
      

              	
                (v)

              	
                "Retirement" and
      "Retire"
      shall mean severance of employment with the Bank at or after the
      attainment of his or her Normal Retirement Date (sometimes referred to as
      “Normal Retirement”) or, if earlier, at or after attainment of his or her
      Early Retirement Date (sometimes referred to as “Early Retirement”), in
      either case where Just Cause does not
exist.

              

      

      

      
        	
                 
      

              	
                (w)

              	
                "Retirement
      Benefit" shall mean the benefit provided under Article IV of
      the Plan.

              

      

      

      
        	
                 
      

              	
                (x)

              	
                “Separation from
      Service” or “Separate from
      Service” shall mean a termination of services provided by a
      Participant to his or her Employer, whether voluntarily or involuntarily,
      other than by reason of death or Disability, as determined by the
      Committee in accordance with Treas. Reg. §1.409A-1(h).  In
      determining whether a Participant has experienced a Separation from
      Service, the following provisions shall
apply:

              

      

      
        	
                 
      

              	 

      

      
        	
                 
      

              	
                (1)

              	
                For
      a Participant who provides services to an Employer as an employee, except
      as otherwise provided in part (3) below, a Separation from Service shall
      occur when such Participant has experienced a termination of employment
      with such Employer.  A Participant shall be considered to have
      experienced a termination of employment when the facts and circumstances
      indicate that the Participant and his or her Employer reasonably
      anticipate that either (i) no further services will be performed for the
      Employer after a certain date, or (ii) that the level of bona fide
      services the Participant will perform for the Employer after such date
      (whether as an employee or as an independent contractor) will permanently
      decrease to less than fifty percent (50%) of the average level of bona
      fide services performed by such Participant (whether as an Employee or an
      independent contractor) over the immediately preceding thirty-six (36)
      month period (or the full period of services to the Employer if the
      Participant has been providing services to the Employer less than
      thirty-six (36) months).

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                If
      a Participant is on military leave, sick leave, or other bona fide leave
      of absence, the employment relationship between the Participant and the
      Employer shall be treated as continuing intact, provided that the period
      of such leave does not exceed 6 months, or if longer, so long as the
      Participant retains a right to reemployment with the Employer under an
      applicable statute or by contract.  If the period of a military
      leave, sick leave, or other bona fide leave of absence exceeds 6 months
      and the Participant does not retain a right to reemployment under an
      applicable statute or by contract, the employment relationship shall be
      considered to be terminated for purposes of this Plan as of the first day
      immediately following the end of such 6-month period.  In
      applying the provisions of this paragraph, a leave of absence shall be
      considered a bona fide leave of absence only if there is a reasonable
      expectation that the Participant will return to perform services for the
      Employer.

              

      

      

      
        	
                 
      

              	
                (2)

              	
                For
      a Participant who provides services to an Employer as an independent
      contractor, except as otherwise provided in part (3) below, a Separation
      from Service shall occur upon the expiration of the contract (or in the
      case of more than one contract, all contracts) under which services are
      performed for such Employer, provided that the expiration of such
      contract(s) is determined by the Committee to constitute a good-faith and
      complete termination of the contractual relationship between the
      Participant and such Employer.

              

      

      

      
        	
                 
      

              	
                (3)

              	
                For
      a Participant who provides services to an Employer as both an employee and
      an independent contractor, a Separation from
      Service generally shall not occur until the Participant has ceased
      providing services for such Employer as both as an employee and as an
      independent contractor, as determined in accordance with the provisions
      set forth in parts (1) and (2) above, respectively.  Similarly,
      if a Participant either (i) ceases providing services for an Employer as
      an independent contractor and begins providing services for such Employer
      as an employee, or (ii) ceases providing services for an Employer as an
      employee and begins providing services for such Employer as an independent
      contractor, the Participant will not be considered to have experienced a
      Separation from Service until the Participant has ceased providing
      services for such Employer in both capacities, as determined in accordance
      with the applicable provisions set forth in parts (1) and (2) above. 

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                Notwithstanding
      the foregoing provisions in this part (3), if a Participant provides
      services for an Employer as both an employee and as a member of the board
      of directors (a “Director”), to the extent permitted by Treas. Reg.
      §1.409A-1(h)(5) the services provided by such Participant as a Director
      shall not be taken into account in determining whether the Participant has
      experienced a Separation from Service as an employee, and the services
      provided by such Participant as an employee shall not be taken into
      account in determining whether the Participant has experienced a
      Separation from Service as a Director.

              

      

      

      
        	
                 
      

              	
                (y)

              	
                "Subsidiary"
      shall mean any business organization in which Trustmark National Bank,
      Jackson, Mississippi, directly or indirectly, owns an interest,
      excluding ownership interests Trustmark National Bank,
      Jackson, Mississippi may hold in their fiduciary capacities as
      trustee or otherwise, and any other business organization that the Board
      of Directors designates as a Subsidiary for purposes of this Plan,
      provided in each such case the business organization would be aggregated
      and treated as a single employer with Trustmark National Bank,
      Jackson, Mississippi under Code Section 414(b) (controlled
      group of corporations) and Code Section 414(c) (a group of trades or
      businesses, whether or not incorporated, under common control), as
      applicable.  In order to identify the group of entities
      described in the preceding sentence, the Committee shall use an ownership
      threshold of at least eighty percent (80%) when applying, the applicable
      provisions of (1) Code Section 1563 for determining a controlled
      group of corporations under Code Section 414(b), and (2) Treas. Reg.
      §1.414(c)-2 for determining the trades or businesses that are under common
      control under Code
Section 414(c).

              

      

      

      
        	
                1.2

              	
                Construction.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                The
      masculine gender when used herein shall be deemed to include the feminine
      gender, and the singular may include the plural unless the context clearly
      indicates to the contrary.  The words "hereof", "herein,"
      "hereunder", and other similar compounds of the word "here" shall mean and
      refer to the entire Plan and not to any particular provision or
      section.  Whenever the words "Article" or "Section" are used in
      this Plan, or a cross-reference to an "Article" or "Section" is made, the
      Article or Section referred to shall be an Article or
      Section of this Plan unless otherwise
  specified.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (b)

              	
                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).  Except with respect to Plan benefits not subject to
      Code Section 409A, the Plan shall be administered and interpreted
      (i) to the extent possible in a manner consistent with the intent
      described in the preceding sentence, and (ii) in accordance with Code
      Section 409A and related Treasury
guidance.

              

      

      

      
        	
                1.3

              	
                Applicability of Code
      Section 409A.  It is intended that if no part of a
      Participant’s Retirement Benefit is earned or becomes vested after
      December 31, 2004 and there is no material modification with respect
      to such benefit which would cause it to become subject to Code
      Section 409A, then neither this Plan restatement nor Code
      Section 409A shall apply to such Participant’s Plan benefits, and the
      payment of such Participant’s Plan benefits shall be governed by the terms
      of the Plan as in effect on December 31,
  2004.

              

      

      

      ARTICLE II

      

      ELIGIBILITY AND
PARTICIPATION

      

      
        	
                2.1

              	
                Eligibilityand
      Participation.  Participation in the Plan shall be frozen
      as of December 31, 2007, at which time it is anticipated that there
      will be only one Participant in the Plan.  An Employee shall, as
      a condition precedent to participation herein, complete and return to the
      Committee a duly executed Plan Agreement and Election to Participate
      electing to participate herein and agreeing to the terms and conditions
      thereof, and by the execution thereof such Participant shall have agreed
      that all amounts deferred thereby shall be irrevocably deferred and that
      in lieu thereof the Participant shall be entitled solely to the benefits
      provided under this Plan.  Any amendment thereto which affects
      the amounts contributed by the Participant to the Plan shall be completed
      and returned to the Committee at the time specified thereby, which must be
      prior to December 31st of the calendar year preceding the calendar
      year to which the amendment relates.  Such Plan Agreement shall
      contain such further conditions as may be established and are determined
      in the sole discretion of the
Committee.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE III

      

      DEATH
BENEFIT

      

      
        	
                3.1

              	
                Amount and Payment of
      Death Benefit.  If a Participant dies before Retirement
      and before his or her Retirement Benefit commences to be paid pursuant to
      Section 4.1(b) and the Plan is in effect at that time, the Bank will
      pay or cause to be paid a Death Benefit to such Participant's
      Beneficiary.  The said Death Benefit shall be (i) one
      hundred percent (100%) of the Participant's Covered Salary as set forth in
      the Plan Agreement paid monthly for the next twelve (12) months after such
      death and (ii) seventy five percent (75%) of said Participant's
      Covered Salary paid monthly for the next one hundred and eight (108)
      months or until the Participant would have been age sixty-five (65),
      whichever is later.  Such payments shall commence effective the
      first day of the month following the date of
  death.

              

      

      

      
        	
                 
      

              	
                Notwithstanding
      the immediately preceding paragraph of this Section 3.1, the Bank
      will pay or cause to be paid the Death Benefit specified therein only
      if:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                At
      the time of the Participant's death prior to attaining his or her Normal
      Retirement Date:

              

      

      

      
        	
                 
      

              	
                (i)

              	
                Such
      Participant was an Employee and had not Retired, or was Disabled or on an
      authorized leave of absence, his or her Retirement Benefit has not
      commenced to be paid pursuant to Section 4.1(b) and all deferrals and
      payments required to be made by such Participant under Sections 3.2
      et. seq. have been
      made, or

              

      

      

      
        	
                 
      

              	
                (ii)

              	
                Such
      required deferrals or payments were waived pursuant to Section 3.5
      because of such Participant's
Disability;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Participant's Plan Agreement had been kept in force throughout the period
      commencing on the date of such Plan Agreement and ending on the date of
      his or her death;

              

      

      

      
        	
                 
      

              	
                (c)

              	
                The
      Participant's death was due to causes other than suicide within two (2)
      years of the date of his or her original Plan Agreement or within two (2)
      years of the date of any amendment to his or her Plan Agreement or any
      subsequent Plan Agreement resulting from additional benefits granted
      because of an increase in the Participant's Covered Salary; but the
      Participant's suicide shall relieve the Bank only of its obligation to pay
      that portion of the Death Benefit that was granted within two (2) years
      prior to the date of such suicide;

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      Participant's death is determined not to be from a bodily or mental cause
      or causes, information about which was withheld, or knowingly concealed,
      or falsely provided by the Participant when requested by the Bank to
      furnish evidence of good health upon the Participant's enrolling in the
      Plan or upon an application for an increase in benefits because of an
      increase in Participant's Covered Salary;
and

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (e)

              	
                Proof
      of death in such form as determined acceptable by the Committee is
      furnished.

              

      

      

      
        	
                3.2

              	
                Amount of Participant
      Deferral and Payments.  In consideration for the Death
      Benefit selected in Participant's Plan Agreement, each Participant shall
      defer an amount of his or her compensation in such amounts and at such
      times as shall be determined by the Committee and as specified in his or
      her Election to Participate, and the Committee may change the amount of
      such deferral prospectively on a calendar year by calendar year basis,
      provided that any change is made prior to the beginning of the calendar
      year for which it is effective.  If a Participant is authorized
      to take a leave of absence from his or her employment or, subject to the
      provisions of Section 3.5, is Disabled, the Participant shall be required
      to make payments to the Bank in accordance with Article III in order
      to maintain his or her Plan Agreement in force.  A Participant's
      obligation to defer an amount of his or her compensation in accordance
      with this Article III or to make the payments required by this
      Article III shall be stated in his or her Plan Agreement and Election
      to Participate and shall continue during the term of his or her Plan
      Agreement or until the earlier of such Participant's death or attainment
      of his or her Normal Retirement Date.  A Participant shall have
      the right, prospectively on a calendar year by calendar year basis, to
      increase or decrease the amount of his or her deferral initially selected
      by him by amending his or her Plan Agreement and Election to Participate
      in accordance with the rules adopted by the Committee for this purpose,
      provided that any change is agreed to prior to the beginning of the
      calendar year for which it is
effective.

              

      

      

      
        	
                3.3

              	
                Time and Manner of
      Deferring or Making Payments.  A Participant shall, in
      his or her Plan Agreement and Election to Participate, authorize the
      Employer to defer an amount of such Participant's compensation equal to
      the amount specified pursuant to Section 3.2.  A Participant who
      is on authorized leave of absence or is Disabled and who is required to
      make the payments required in this Article III shall make such
      payments at such time and in such manner as the Committee shall provide;
      provided, however, that the Participant shall not continue to make such
      payments during any period in which a portion of his or her compensation
      is being deferred or such payments have been waived pursuant to Section
      3.5.

              

      

      

      
        	
                3.4

              	
                Participant Deferrals
      and Payments - Use and Forfeitability.  The amount of
      each Participant's compensation deferred pursuant to Sections 3.2 and 3.3
      shall be and remain solely the property of the Bank and the amount
      collected by the Bank pursuant to Sections 3.2 and 3.3 from each
      Participant who is on an authorized leave of absence or disabled shall be
      and become solely the property of the Bank, and a Participant shall have
      no right thereto, nor shall the Bank be obligated to use such amounts in
      any specific manner.  Except as provided in Article IV, if a
      Participant's death occurs under circumstances other than those specified
      in Section 3.1, no benefit shall be payable hereunder or under his or her
      Plan Agreement to his or her Beneficiary or any other person or entity on
      his or her behalf, and any payments made by such Participant under
      Sections 3.2 and 3.3 shall be
forfeited.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                3.5

              	
                Waiver of Participant
      Deferral or Payments.  If a Participant becomes Disabled
      before attaining his or her Normal Retirement Date, if such Disability
      continues for more than three (3) months, and if the Disability benefit
      specified in Item 4 of the Participant's Plan Agreement is in effect,
      such Participant shall not be required to defer a portion of his or her
      compensation pursuant to Sections 3.2 and 3.3 or make the payments
      provided for in Sections 3.2 and 3.3, commencing with the fourth (4th)
      month following the date of such Disability and continuing thereafter for
      as long as such Disability
continues.

              

      

      

      
        	
                3.6

              	
                Required Payments and
      Leave of Absence.  If a Participant is authorized by the
      Bank for any reason, including military, medical or other, to take a leave
      of absence, such Participant shall be required to make payments in order
      to maintain his or her Plan Agreement in force (first out of his or her
      compensation during such leave of absence and, if his of her compensation
      is insufficient, from his or her personal assets).  Such
      required payments shall be an amount equal to the amount of the
      Participant's compensation that is to be deferred under the terms of his
      or her Plan Agreement and Election to Participate.  A
      Participant required to make payments under this Section 3.6 shall
      continue making such required payments until the earlier of (i) the
      date he or she returns to his or her duties following the leave of
      absence, (ii) the date such payments are waived pursuant to Section
      3.5, or (iii) the effective date that he or she enters into a new
      Plan Agreement and Election to Participate.  If a Participant's
      payments are waived pursuant to Section 3.5 and subsequently the
      Participant returns to his or her duties, he or she shall be required to
      resume deferring his or her compensation, in the amount specified
      above.

              

      

      

      
        	
                3.7

              	
                Failure to Make
      Required Payments.  Failure to make payments required by
      Section 3.6 shall cause Participant's Plan Agreement to terminate
      without the necessity of any notice from either party to the
      other.  From and after such termination, except as provided in
      Section 4.6 hereof, neither party shall have any further obligation to the
      other party under this Plan or such Plan
  Agreement.

              

      

      

      
        	
                3.8

              	
                Disability.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                If
      a Participant becomes Disabled before attaining his or her Normal
      Retirement Date and subsequently dies before Retirement and before his or
      her Retirement Benefit commences to be paid pursuant to
      Section 4.1(b) and while the waiver described in Section 3.5 is in
      effect, the Death Benefit provided in this Article III shall be
      paid.  If a Participant Retires while the waiver described in
      Section 3.5 after becoming Disabled or attains his or her Normal
      Retirement Date or commences to be paid pursuant to Section 4.1(b),
      the Retirement Benefit provided in Article IV shall be
      paid.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                For
      purposes hereof, either Disability and Disabled means unable to engage in
      any substantial gainful activity (1) by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than twelve (12) months, or (2) by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than twelve (12) months, where the Participant is receiving income
      replacement benefits for a period of not less than 3 months under an
      accident and health plan covering employees of the Participant’s
      Employer.  For purposes of this Plan, a Participant shall be
      deemed Disabled if determined to be totally disabled by the Social
      Security Administration.  A Participant shall also be deemed
      Disabled if determined to be disabled in accordance with the applicable
      disability insurance program of such Participant’s Employer, provided that
      the definition of “disability” applied under such disability insurance
      program complies with the requirements
hereof.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                Notwithstanding
      the foregoing, a Participant will not be considered Disabled
      unless:

              

      

      

      
        	
                 
      

              	
                (1)

              	
                such
      Disability was not either intentionally self-inflicted or caused by
      illegal or criminal acts of the
Participant;

              

      

      

      
        	
                 
      

              	
                (2)

              	
                the
      Participant was an Employee at the time he or she became Disabled (or was
      then on an authorized Leave of Absence) and had made all payments required
      hereunder; and

              

      

      

      
        	
                 
      

              	
                (3)

              	
                the
      Participant's Plan Agreement has been kept in force until the time of such
      Disability; and

              

      

      

      
        	
                 
      

              	
                (4)

              	
                the
      Committee has approved the waiver of such fee and such waiver is so noted
      in the Participant's Plan
Agreement.

              

      

      

      
        	
                 
      

              	
                The
      determination of what constitutes a Disability or being Disabled and the
      cessation of being Disabled for purposes of this Section 3.8 shall be
      made by the Committee, in its sole and absolute discretion, and such
      determination shall be conclusive.

              

      

      

      ARTICLE IV

      

      RETIREMENT
BENEFIT

      

      
        	
                4.1

              	
                Payment at Normal
      Retirement Date.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Subject
      to Section 4.1(b) and Section 4.7, if a Participant has remained
      an Employee until his or her Normal Retirement Date and shall then Retire,
      and if the Plan and his or her Plan Agreement have been kept in force, the
      Bank shall pay or cause to be paid to such Participant, as a Retirement
      Benefit (herein so called), the amount per month specified in his or her
      Plan Agreement as a Retirement Benefit.  Payment of such monthly
      amount shall commence on the Participant's Normal Retirement Date and
      shall continue for the life of the Participant.  If such
      Participant shall die before receiving one hundred and twenty (120)
      monthly payments, the Retirement Benefit will be continued to the
      Participant's Beneficiary as set forth in the Beneficiary Designation
      until an aggregate of one hundred and twenty (120) monthly payments has
      been paid to the Participant and his or her
  Beneficiary.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (b)

              	
                This
      Section 4.1(b) shall apply, effective January 1, 2008,
      notwithstanding any other provisions of the Plan other than
      Section 4.7(b).  In lieu of payment pursuant to the other
      applicable provisions of this Article IV, if (1) any portion of
      a Participant’s Retirement Benefit is earned or becomes vested after
      December 31, 2004 and is thus subject to Code Section 409A,
      (2) such a Participant has remained an Employee until his or her
      Normal Retirement Date (or, if later, until December 31, 2007), and
      (3) the Plan and such Participant’s Plan Agreement have been kept in
      force until such time, the Retirement Benefit of such a Participant shall
      commence to be paid on the Participant's Normal Retirement Date (or if
      later, on January 1, 2008) and shall continue for the life of the
      Participant.  The amount of such monthly payment shall be the
      amount per month specified in the Participant's Plan Agreement on the
      Participant's Normal Retirement Date (increased where applicable for
      interest at the rate of four percent (4%), or such other rate as the
      Committee may determine from time to time, per annum, compounded annually,
      to the Participant's Normal Retirement Date (or if later, to
      January 1, 2008).  If such Participant shall die before
      receiving one hundred and twenty (120) monthly payments, the Retirement
      Benefit will be continued to the Participant's Beneficiary as set forth in
      the Beneficiary Designation until an aggregate of one hundred and twenty
      (120) monthly payments has been paid to the Participant and his or her
      Beneficiary.  Notwithstanding any other provisions of the Plan,
      in the event a Participant commences to receive his or her Retirement
      Benefit pursuant to this Section 4.1(b), there shall be no further
      accrual of, or any increase to, the Participant’s Retirement Benefit under
      the Plan after the Participant’s Normal Retirement Date (or, if later,
      December 31, 2007) unless the Committee provides for the same in a
      Participant’s Plan Agreement (in which case any additional accrual for a
      year shall commence to be paid on the next anniversary date of the
      Participant’s Normal Retirement Date and shall be payable for the
      Participant’s life, but there shall be no extension of the one hundred and
      twenty (120) monthly payment period for Retirement
    Benefits).

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                4.2

              	
                Early
      Retirement.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Subject
      to Section 4.7, if a Participant has remained an Employee until his
      or her Early Retirement Date and shall then Retire, and if the Plan and
      his or her Plan Agreement have been kept in force, the Bank shall pay or
      cause to be paid to such Participant an Early Retirement Benefit
      commencing as of the Participant's Early Retirement Date.  In
      such event, the Participant's monthly Early Retirement Benefit shall be
      the Retirement Benefit set forth in his or her Plan Agreement Actuarially
      Reduced to the Participant's Early Retirement Date.  The said
      reduced monthly amount, payable for life shall be the only benefit to
      which such Participant is entitled.  If Participant shall die
      before receiving one hundred and twenty (120) installments after
      commencement of the Early Retirement Benefit, said amount will be
      continued to Participant's Beneficiary as set forth in the Beneficiary
      Designation until a total of one hundred and twenty (120) installments
      have been paid to the Participant and his or her
    Beneficiary.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                A
      Participant, in connection with his or her commencement of participation
      in the Plan (or, if later, by December 31, 2008) and consistent with
      the payment election rules of Code Section 409A (including that the
      election does not cause amounts otherwise to be paid in the calendar year
      of election to be deferred to a later calendar year and does not cause
      amounts otherwise to be paid later than the calendar year of election to
      be paid in the calendar year of election), may irrevocably elect in his or
      her Plan Agreement (or in a supplement thereto) to decline to receive his
      or her Retirement Benefit as an Early Retirement Benefit, in which event
      his or her Retirement Benefit shall be paid at his or her Normal
      Retirement Date pursuant to Section 4.1 (subject to acceleration in
      the event of the Participant’s death after Retiring on Early Retirement)
      and shall not commence to the Participant upon or in connection with his
      or her Early Retirement.

              

      

      

      
        	
                 
      

              	
                If
      such a Participant dies before attainment of his or her Normal Retirement
      Date, the monthly amount will be paid to Participant's Beneficiary as set
      forth in Participant's Beneficiary Designation for one hundred and twenty
      (120) months.  Such payments shall commence effective the first
      day of the month following the date of death, provided that the
      commencement may be delayed until the date on which the Committee is
      provided with proof that is satisfactory to the Committee of the
      Participant’s death.

              

      

      

      
        	
                4.3

              	
                Post Retirement Death
      Benefit.  If a Participant dies after Retirement or
      commencement of his or her Retirement Benefit pursuant to
      Section 4.1(b), but before the applicable Retirement Benefit is paid
      in full, the unpaid Retirement Benefit payments to which such Participant
      is entitled shall continue and be paid to that Participant's
      Beneficiary.  Such payments shall be made in accordance with the
      payment schedule to that Participant pursuant to Section 4.1 or 4.2 of the
      Plan.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                4.4

              	
                Exclusivity of Post
      Retirement Death Benefit.  No Death Benefit as defined in
      Article III shall be paid to the Beneficiary of a Participant who
      dies after Retirement or commencement of his or her Retirement Benefit
      pursuant to Section 4.1(b).

              

      

      

      
        	
                4.5

              	
                Accrual of Retirement
      Benefit.  A Participant who ceases to be an Employee
      before completion of one (1) full year of participation in the Plan,
      except as a result of death, Retirement, or Disability, or as a result of
      Just Cause at any time shall not be entitled to any benefits hereunder and
      the Bank shall have no obligation hereunder to such
      Participant.

              

      

      

      
        	
                4.6

              	
                Deferred Termination
      Benefit.  A Participant who ceases to be an Employee
      after the completion of one (1) full year of participation in the Plan and
      for reasons other than Retirement or Just Cause shall receive a portion of
      his or her monthly Retirement Benefit upon the earlier of (i) the
      Participant's death or (ii) attainment of his or her Normal Retirement
      Date.  Said portion shall be the monthly amount of the
      Retirement Benefit set forth in the Participant's Plan Agreement
      multiplied by a fraction, not to exceed one (1), the numerator of which is
      the number of whole years said Employee was a Participant in the Plan and
      the denominator of which is fifteen (15).  The resulting reduced
      monthly amount shall be the only benefit to which such Participant is
      entitled.  Subject to Section 4.7, the reduced monthly
      amount will be payable for life, if Participant so survives, commencing at
      the Participant's Normal Retirement Date.  If such Participant
      shall die before receiving one hundred and twenty (120) monthly payments,
      the reduced amount will be continued to the Participant's Beneficiary as
      set forth in the Beneficiary Designation until an aggregate of one hundred
      and twenty (120) monthly payments has been paid to the Participant and his
      or her Beneficiary.

              

      

      

      
        	
                 
      

              	
                If
      such a Participant dies before attainment of his or her Normal Retirement
      Date, the reduced monthly amount will be paid to Participant's Beneficiary
      as set forth in Participant's Beneficiary Designation for one hundred and
      twenty (120) months.  Such payments shall commence effective the
      first day of the month following the date of death, provided that the
      commencement may be delayed until the date on which the Committee is
      provided with proof that is satisfactory to the Committee of the
      Participant’s death.  No Death Benefit as defined in
      Article III shall be paid to the Beneficiary of such a Participant
      who dies before attainment of his or her Normal Retirement
      Date.

              

      

      

      
        	
                4.7

              	
                Deferral of Payment
      Commencement to Comply with Code Section 409A or to Avoid
      Non-Deductibility under Code Section
  162(m).

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Notwithstanding
      any other provisions of the Plan, if a Participant becomes entitled to be
      paid his or her Retirement Benefit which is considered to be nonqualified
      deferred compensation for purposes of, and which is subject to, Code
      Section 409A (taking into account all applicable exclusions and
      exemptions thereunder) by reason of his or her Retirement or other
      Separation from Service (which term does not include separation by reason
      of death or Disability), the following shall
      apply:  (1) such Participant shall not commence to be paid
      his or her Retirement Benefit until he or she is considered to have a
      Separation from Service; and (2) where payment commences on account
      of the Participant’s Separation from Service, commencement of payment of
      his or her Retirement Benefit shall be delayed until six (6) months after
      such Separation from Service or, if earlier, the Participant’s death (the
      “409A Deferral Period”).  In the event payments are delayed by
      clause (2) of the preceding sentence, the payments otherwise due to be
      made in installments or periodically during the 409A Deferral Period shall
      be accumulated and paid in a lump sum as soon as the 409A Deferral Period
      ends (together with interest thereon based on the interest rate used to
      determine an Actuarially Reduced payment as of the date of his or her
      Separation from Service), and the balance of the payments shall thereafter
      be made as otherwise scheduled.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (b)

              	
                If
      the Bank’s deduction with respect to any distribution from this Plan to a
      Participant would be limited or eliminated by application of Code Section
      162(m), then to the extent permitted by Treas. Reg. §1.409A-2(b)(7)(i),
      payment shall be delayed as deemed necessary to ensure that the entire
      amount of any distribution from this Plan to the Participant is
      deductible.  Any amounts for which distribution is delayed
      pursuant to this provision shall continue to be credited with interest
      thereon based on the interest rate used to determine an Actuarially
      Reduced payment.  The delayed amounts (and any interest 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 Bank 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 the event that such date is determined to be after a
      Participant’s Separation from Service, then the payment to the Participant
      will be considered made on account of a Separation from Service and must
      comply with the six (6) month delay in payment required by Section 4.7(a)
      following such Participant’s Separation from
  Service.

              

      

      

      ARTICLE V

      

      BENEFICIARY

      

      A
Participant shall designate his or her Beneficiary to receive benefits under the
Plan and his or her Plan Agreement by completing the Beneficiary
Designation.  If more than one Beneficiary is named, the shares and/or
precedence of each Beneficiary shall be indicated.  A Participant
shall have the right to change the Beneficiary by submitting to the Committee a
new Beneficiary Designation.  The Beneficiary Designation must be
approved in writing by the Bank; however, upon the Bank's acknowledgment of
approval, the effective date of the Beneficiary Designation shall be the date it
was executed by the Participant.  If the Bank has any doubt as to the
proper Beneficiary to receive payments hereunder, it shall have the right to
withhold such payments until the matter is finally adjudicated.  Any
payment made by the Bank in good faith and in accordance with the provisions of
this Plan and a Participant's Plan Agreement and Beneficiary Designation shall
fully discharge the Bank from all further obligations with respect to such
payment.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE VI

      

      SOURCE OF
BENEFITS

      

      
        	
                6.1

              	
                Benefits Payable from
      General Assets.  Amounts payable hereunder shall be paid
      exclusively from the general assets of the Bank, and no person entitled to
      payment hereunder shall have any claim, right, security interest, or other
      interest in any fund, trust, account, or other asset of the Bank that may
      be looked to for such payment.  The Bank's liability for the
      payment of benefits hereunder shall be evidenced only by this Plan and
      each Plan Agreement entered into between the Bank and a
      Participant.

              

      

      

      
        	
                6.2

              	
                Investments to
      Facilitate Payment of Benefits.  Although the Bank is not
      obligated to invest in any specific asset or fund in order to provide the
      means for the payment of any liabilities under this Plan, the Bank may
      elect to do so and, in such event, no Participant shall have any interest
      whatever in such asset or fund.  As a condition precedent to the
      Bank's obligation to provide any benefits, including incremental increases
      in benefits, under this Plan, the Participant shall, if so requested by
      the Bank, provide evidence of insurability at standard and other rates, in
      such amounts, and with such insurance carrier or carriers as the Bank may
      require, including the results and reports of previous Bank and other
      insurance carrier physical examinations, taking such additional physical
      examinations as the Bank may request, and taking any other action that the
      Bank may request, and shall consent to the Bank’s acquisition of insurance
      on his or her life.  If a Participant is requested to and does
      not or cannot provide evidence of insurability as specified in the
      immediately preceding sentence, then the Bank shall have no further
      obligation to such Participant under this Plan, and such Participant's
      Plan Agreement shall terminate, except as to benefits previously
      granted.  Notwithstanding the foregoing, if a Participant cannot
      provide evidence of insurability at standard rates or for the amounts
      initially contemplated in connection with his or her participation in the
      Plan, the Bank may, at its discretion, permit the Participant to
      participate herein for such benefits and upon such deferral of his or her
      compensation as the Bank may, in its sole discretion, deem appropriate in
      a manner which is not violative of Code Section 409A and is set out
      in his or her Plan Agreement.

              

      

      

      
        	
                 
      

              	
                The
      Participant also understands and agrees that his or her participation, in
      any way, in the acquisition of any such insurance policy or any other
      general asset by the Bank shall not constitute a representation to the
      Participant, his or her Beneficiary, or any person claiming through the
      Participant that any of them has a special or beneficial interest in such
      general asset.

              

      

      

      
        	
                6.3

              	
                Bank
      Obligation.  The Bank shall have no obligation of any
      nature whatsoever to a Participant under this Plan or a Participant's Plan
      Agreement, except otherwise expressly provided herein and in such Plan
      Agreement.

              

      

      

      
        	
                6.4

              	
                Withholding of
      Information, Etc.  If, in connection with a Participant's
      enrolling in or applying for incremental benefit increases under the Plan,
      the Bank requests the Participant to furnish evidence of insurability, the
      Participant dies, and it is determined that the Participant withheld,
      knowingly concealed, or knowingly provided false information about the
      bodily or mental condition or conditions that caused the Participant's
      death, the Bank shall have no obligation to provide the benefits
      contracted for on the basis of such withholding, concealment, or false
      information.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE VII

      

      TERMINATION OF
EMPLOYMENT

      

      Neither
this Plan nor a Participant's Plan Agreement, either singly or collectively, in
any way obligate the Bank to continue the employment of a Participant with the
Bank nor does either limit the right of the Bank at any time and for any reason
to terminate the Participant's employment.  Termination of a
Participant's employment with the Bank for any reason, whether by action of the
Bank, shall immediately terminate his or her participation in this Plan and his
or her Plan Agreement, and all further obligations of either party thereunder,
except as may be provided in Section 4.6.  In no event shall this
Plan or a Plan Agreement, either singly or collectively, by their terms or
implications constitute an employment contract of any nature whatsoever between
the Bank and a Participant.

      

       

      ARTICLE VIII

      

      TERMINATION OF
PARTICIPATION

      

      
        	
                8.1

              	
                Termination of
      Participation - General.  A Participant reserves the
      right to terminate his or her participation in this Plan and his or her
      Plan Agreement at his or her election at any time by giving the Committee
      written notice of such termination not less than thirty (30) days prior to
      an anniversary date of the date of execution of his or her Plan
      Agreement.  A Participant's termination shall be effective as
      soon as administratively convenient after such anniversary
      date.  If a Participant terminates his or her participation in
      the Plan, such participation termination must not be violative of Code
      Section 409A and, in the case of a Participant who has agreed to a
      deferral of compensation pursuant to the Plan, must be effected as of the
      beginning of a calendar year, or as of a specified date is a calendar
      year, following the calendar year in which the Participant delivers
      written notice of his or her participation termination to the
      Committee.

              

      

      

      
        	
                8.2

              	
                Rights After
      Termination of Participation.  Participants who elect to
      terminate participation in the Plan after one (1) full year of
      participation but before eligibility for Retirement will be entitled to
      the same benefits as a Participant who ceases to be an Employee as
      described in Section 4.6.  Such Participants will not be
      entitled to a Death Benefit under
  Article III.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE IX

      

      TERMINATIONS, AMENDMENTS,
MODIFICATION OR

      

      SUPPLEMENT OF
PLAN

      

      
        	
                9.1

              	
                Termination Amendment,
      Etc.  The Bank reserves the right to terminate, amend,
      modify or supplement this Plan, wholly or partially, and from time to
      time, at any time.  The Bank likewise reserves the right to
      terminate, amend, modify, or supplement any Plan Agreement, wholly or
      partially, from time to time.  Such right to terminate, amend,
      modify, or supplement this Plan or any Plan Agreement shall be exercised
      for the Bank by the Committee; provided, however,
  that:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Except
      as deemed appropriate to comply with Code Section 409A, no action to
      terminate this Plan or a Plan Agreement shall be taken except upon written
      notice to each Participant to be affected thereby, which notice shall be
      given not less than thirty (30) days prior to such action;
    and

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Committee shall take no action to terminate this Plan or a Plan Agreement
      with respect to a Participant or his or her Beneficiary after the payment
      of any benefit has commenced in accordance with Article III or
      Article IV but has not been
completed.

              

      

      

      
        	 	
                Notwithstanding
      the foregoing, the Bank may not provide for acceleration in payment of any
      Plan benefit subject to Code Section 409A upon termination of the
      Plan, or for termination of any compensation deferral by a Participant
      pursuant to the Plan in connection with the termination of the Plan,
      unless it does so subject to and in accordance with any rules established
      by it deemed necessary to comply with the applicable requirements and
      limitations of Code Section 409A and Treas. Reg.
      §1.409A-3(j)(4)(ix).

              

      

      

      
        	
                9.2

              	
                Rights and Obligations
      Upon Termination.  Upon the termination of this Plan or
      any Plan Agreements, by either the Committee or a Participant in
      accordance with the provisions for such termination, neither this Plan nor
      the Plan Agreement shall be of any further force and effect, and no party
      shall have any further obligation under either this Plan or any Plan
      Agreement so terminated except as may be provided for in Section 4.6,
      Section 9.3, or the provisions of this
    Article IX.

              

      

      

      
        	
                9.3

              	
                Revocation.  In
      the event Participant is discharged for Just Cause at any time, his or her
      Plan Agreement shall be terminated and considered null and void with
      neither the Participant nor Participant's Beneficiary having any claim or
      right against Bank under this Plan or the Participant’s Plan Agreement
      thereafter.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE X

      

      OTHER BENEFITS AND
AGREEMENTS

      

      The
benefits provided for a Participant and his or her Beneficiary hereunder and
under such Participant's Plan Agreement are in addition to any other benefits
available to such Participant under any other program or plan of the Bank for
its Employees, and, except as may otherwise be expressly provided for, this Plan
and Plan Agreements entered into hereunder shall supplement and shall not
supersede, modify, or amend any other program or plan of the Bank or a
Participant.  Moreover, benefits under this Plan and Plan Agreements
entered into hereunder shall not be considered compensation for the purpose of
computing deferrals or benefits under any plan maintained by the Bank that is
qualified under Code Section 401(a).

      

      ARTICLE XI

      

      RESTRICTIONS ON ALIENATION
OF BENEFITS

      

      No right
or benefit under this Plan or a Plan Agreement shall be subject to anticipation,
alienation, sale, assignment, pledge, encumbrance, or charge, and any attempt to
anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall
be void.  No right or benefit hereunder or under any Plan Agreement
shall in any manner be liable for or subject to the debts, contracts,
liabilities, or torts of the person entitled to such benefit.  If any
Participant or Beneficiary under this Plan or a Plan Agreement should become
bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber, or
charge any right to a benefit hereunder or under any Plan Agreement, then such
right or benefit shall, in the discretion of the Committee, terminate, and, in
such event, the Committee shall hold or apply the same or any part thereof for
the benefit of such Participant or Beneficiary, his or her spouse, children, or
other dependents, or any of them, in such manner and in such portion as the
Committee, in its sole and absolute discretion, may deem proper.

      

      ARTICLE XII

      

      ADMINISTRATION OF THIS
PLAN

      

      
        	
              	
                12.1

              	
                Appointment of
      Committee.  The general administration of this Plan, and
      any Plan Agreements executed hereunder, as well as construction and
      interpretation thereof, shall be vested in the Committee, the number and
      members of which shall be designated and appointed from time to time by,
      and shall serve at the pleasure of, the Board of Directors.  Any
      such member of the Committee may resign by notice in writing filed with
      the secretary of the Committee.  Vacancies shall be filled
      promptly by the Board of Directors but any vacancies remaining unfilled
      for ninety days may be filled by a majority vote of the remaining members
      of the Committee.  Each person appointed a member of the
      Committee shall signify his or her acceptance by filing a written
      acceptance with the secretary of the
Committee.

              

      

      

      
        	
              	
                12.2

              	
                Committee
      Officials.  The Board of Directors shall designate one of
      the members of the Committee as chairman and shall appoint a secretary who
      need not be a member of the Committee.  The secretary shall keep
      minutes of the Committee's proceedings and all data, records and documents
      relating to the Committee's administration of this Plan and any Plan
      Agreements executed hereunder.  The Committee may appoint from
      its number such subcommittees with such powers as the Committee shall
      determine and may authorize one or more of its members or any agent to
      execute or deliver any instrument or make any payment on behalf of the
      Committee.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
              	
                12.3

              	
                Committee
      Action.  All resolutions or other actions taken by the
      Committee shall be by the vote of a majority of those members present at a
      meeting at which a majority of the members are present, or in writing by
      all the members at the time in office if they act without a
      meeting.

              

      

      

      
        	
              	
                12.4

              	
                Committee Rules and
      Powers - General.  Subject to the provisions of this
      Plan, the Committee shall from time to time establish rules, forms, and
      procedures for the administration of this Plan, including Plan
      Agreements.  The Committee shall have the exclusive right to
      determine, among other matters, (i) Disability with respect to a
      Participant and (ii) the degree thereof, either or both determinations to
      be made on the basis of such medical and/or other evidence that the
      Committee, in its sole and absolute discretion, may
      require.  Such decisions, actions, and records of the Committee
      shall be conclusive and binding upon the Bank and all persons having or
      claiming to have any right or interest in or under this
    Plan.

              

      

      

      
        	
              	
                12.5

              	
                Reliance on
      Certificate, Etc.  The members of the Committee and the
      officers and directors of the Bank shall be entitled to rely on all
      certificates and reports made by any duly appointed accountants, and on
      all opinions given by any duly appointed legal counsel.  Such
      legal counsel may be counsel for the
Bank.

              

      

      

      
        	
              	
                12.6

              	
                Liability of
      Committee.  No member of the Committee shall be liable
      for any act or omission of any other member of the Committee, or for any
      act or omission on his or her own part, excepting only his or her own
      willful misconduct.  The Bank shall indemnify and save harmless
      each member of the Committee against any and all expenses and liabilities
      arising out of his or her membership on the Committee, excepting only
      expenses and liabilities arising out of his or her own willful
      misconduct.  Expenses against which a member of the Committee
      shall be indemnified hereunder shall include, without limitation, the
      amount of any settlement or judgment, costs, counsel fees, and related
      charges reasonably incurred in connection with a claim asserted, or a
      proceeding brought, or settlement thereof.  The foregoing right
      of indemnification shall be in addition to any other rights to which any
      such member may be entitled as a matter of
law.

              

      

      

      
        	
              	
                12.7

              	
                Determination of
      Benefits.  In addition to the powers hereinabove
      specified, the Committee shall have the power to compute and certify,
      under this Plan and any Plan Agreement, the amount and kind of benefits
      from time to time payable to Participants and their Beneficiaries, and to
      authorize all disbursements for such
purposes.

              

      

      

      
        	
              	
                12.8

              	
                Information to
      Committee.  To enable the Committee to perform its
      functions, the Bank shall supply full and timely information to the
      Committee on all matters relating to the compensation of all Participants,
      their retirement, death or other cause for termination of employment, and
      such other pertinent facts as the Committee may
  require.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
              	
                12.9

              	
                Manner and time of
      Payment of Benefits.  The Committee shall have the power,
      in its sole and absolute discretion, to change the manner and time of
      payment of benefits to be made to a Participant or his or her Beneficiary
      from that set forth in the Participant's Plan Agreement if requested to do
      so by such Participant or
Beneficiary.

              

      

      

      ARTICLE XIII

      

      NAMED FIDUCIARY AND CLAIMS
PROCEDURE

      

      
        	
              	
                13.1

              	
                Named
      Fiduciary.  The Named Fiduciary of the Plan for purposes
      of the claims procedure under this Plan is the Chief Financial Officer;
      provided, however, that if the claim relates to a Plan benefit of the
      Chief Financial Officer, the Named Fiduciary shall be the person or
      committee designated by the Bank.

              

      

      

      
        	
              	
                13.2

              	
                Right to Change Named
      Fiduciary.  The Bank shall have the right to change the
      Named Fiduciary created under this Plan.  The Bank shall also
      have the right to change the address and telephone number of the Named
      Fiduciary.  The Bank shall give the Participant written notice
      of any change of the Named Fiduciary, or any change in the address and
      telephone number of the Named
Fiduciary.

              

      

      

      
        	
              	
                13.3

              	
                Procedure for
      Claims.  Benefits shall be paid in accordance with the
      provisions of this Plan.  Any Participant or Beneficiary of a
      deceased Participant (such Participant or Beneficiary being referred to
      below as a “Claimant”) may deliver to the Named Fiduciary a written claim
      for a determination with respect to the amounts distributable to such
      Claimant from the Plan.  The written claim shall be mailed or
      delivered to the Named Fiduciary.  If such a claim relates to
      the contents of a notice received by the Claimant, the claim must be made
      within sixty (60) days after such notice was received by the
      Claimant.  All other claims must be made within one hundred and
      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.

              

      

      

      
        	
              	
                13.4

              	
                Notification of Denial
      of Claim.  The Named Fiduciary shall consider a
      Claimant's claim within a reasonable time, but no later than ninety (90)
      days after receiving the claim.  If the Named Fiduciary
      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 Named Fiduciary expects to
      render the benefit determination.  The Named Fiduciary 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

              

      

      

      
        	
                 
      

              	
                (b)

              	
                that
      the Named Fiduciary 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:

              

      

      

      
        	
                 
      

              	
                (1)

              	
                the
      specific reason(s) for the denial of the claim, or any part of
      it;

              

      

      

      
        	
                 
      

              	
                (2)

              	
                specific
      reference(s) to pertinent provisions of the Plan upon which such denial
      was based;

              

      

      

      
        	
                 
      

              	
                (3)

              	
                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;

              

      

      

      
        	
                 
      

              	
                (4)

              	
                an
      explanation of the claim review procedure set forth in Section 13.5
      below; and

              

      

      

      
        	
                 
      

              	
                (5)

              	
                a
      statement of the Claimant’s right to bring a civil action under ERISA
      Section 502(a) following an adverse benefit determination on
      review.

              

      

      

      
        	
              	
                13.5

              	
                Review of a Denied
      Claim.  On or before sixty (60) days after receiving a
      notice from the Named Fiduciary that a claim has been denied, in whole or
      in part, a Claimant (or the Claimant's duly authorized representative) may
      file with the Named Fiduciary 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 Named Fiduciary, in its sole discretion, may
      grant.

              

      

      

      
        	
              	
                13.6

              	
                Decision on
      Review.  The Named Fiduciary shall render its decision on
      review promptly, and no later than sixty (60) days after the Named
      Fiduciary receives the Claimant’s written request for a review of the
      denial of the claim.  If the Named Fiduciary 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 Named Fiduciary expects to
      render the benefit determination.  In rendering its decision,
      the Named Fiduciary 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;

              

      

      

      
        	
                 
      

              	
                (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).

              

      

      

      
        	
              	
                13.7

              	
                Legal
      Action.  A Claimant's compliance with the foregoing
      provisions of this Article XIII 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 XIV

      

      ADOPTION OF PLAN BY
SUBSIDIARY,

      

      AFFILIATED OR ASSOCIATED
COMPANIES

      

      Any
corporation that is a Subsidiary may, with the approval of the Board of
Directors, adopt this Plan and thereby come within the definition of Bank in
Article I hereof.

      

      ARTICLE XV

      

      MISCELLANEOUS

      

      
        	
              	
                15.1

              	
                Execution of Receipts
      and Releases.  Any payment to any Participant, a
      Participant's legal representative, or Beneficiary in accordance with the
      provisions of this Plan or Plan Agreement executed hereunder shall, to the
      extent thereof, be in full satisfaction of all claims hereunder against
      the Bank.  The Bank may require such Participant, legal
      representative, or Beneficiary, as a condition precedent to such payment,
      to execute a receipt and release therefore in such form as it may
      determine.

              

      

      

      
        	
              	
                15.2

              	
                No Guarantee of
      Interests.  Neither the Committee nor any of its members
      guarantees the payment of any amounts which may be or become due to any
      person or entity under this Plan or any Plan Agreement executed
      hereunder.  The liability of the Bank to make any payment under
      this Plan or any Plan Agreement executed hereunder is limited to the then
      available assets of the Bank.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
              	
                15.3

              	
                Bank
      Records.  Records of the Bank as to a Participant's
      employment, termination of employment and the reason therefor authorized
      leaves of absence, and compensation shall be conclusive on all persons and
      entities, unless determined to be
incorrect.

              

      

      

      
        	
              	
                15.4

              	
                Evidence.  Evidence
      required of anyone under this Plan and any Plan Agreement executed
      hereunder may be by certificate, affidavit, document, or other information
      which the person or entity acting on it considers pertinent and reliable,
      and signed, made, or presented by the proper party or
    parties.

              

      

      

      
        	
              	
                15.5

              	
                Notice.  Any
      notice which shall be or may be given under this Plan or a Plan Agreement
      executed hereunder shall be in writing and shall be mailed by United
      States mail, postage prepaid.  If notice is to be given to the
      Bank, such notice shall be addressed to the Bank
  at:

              

      

      

      Trustmark
National Bank, Jackson, Mississippi

      Box
291

      Jackson,
Mississippi  39205

      

      
        	
                 
      

              	
                marked
      to the attention of the Secretary, Administrative Committee, Executive
      Deferral Plan; or, if notice to a Participant, addressed to the address
      shown on such Participant's Plan
Agreement.

              

      

      

      
        	
              	
                15.6

              	
                Change of
      Address.  Any party may, from time to time, change the
      address to which notices shall be mailed by giving written notice of such
      new address.

              

      

      

      
        	
              	
                15.7

              	
                Effect of
      Provisions.  The provisions of this Plan and of any Plan
      Agreement executed hereunder shall be binding upon the Bank and its
      successors and assigns, and upon a Participant, his or her Beneficiary,
      assigns, heirs, executors, and
administrators.

              

      

      

      
        	
              	
                15.8

              	
                Headings.  The
      titles and headings of Articles and Sections are included for convenience
      of reference only and are not to be considered in the construction of the
      provisions hereof or any Plan Agreement executed
  hereunder.

              

      

      

      
        	
              	
                15.9

              	
                Governing
      Law.  All questions arising with respect to this Plan and
      any Plan Agreement executed hereunder shall be determined by reference to
      the laws of the State of Mississippi, as in effect at the time of their
      adoption and execution,
respectively.

              

      

      

      

      COMPLETE

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ANNEX
I

      EXECUTIVE
DEFERRAL PLAN

      

      OF

      

      TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

      

      PLAN
AGREEMENT

      

      

      I
acknowledge that, as an Employee of Trustmark National Bank, Jackson,
Mississippi, I have been offered an opportunity to participate in the
Executive Deferral Plan ("Plan"), as described in the attached document, in the
forthcoming year and that I have irrevocably elected one of the two alternatives
set forth as indicated by the space which I have checked:

      

      
        	
                 
      

              	____	
                To
      participate in the Plan, in which case I acknowledge and agree that my
      last Election to Participate remains in
effect.

              

      

      

      
        	
                 
      

              	____	
                Not
      to participate in the Plan.

              

      

      

      Participant's
Covered Salary and benefits under the Plan are agreed to be as
follows:

      

      
        	
                1.

              	
                Participant's Covered
      Salary:  $                          
      per month.

              

      

      

      
        	
                 
      

              	
                This
      represents  % of the
      Covered Salary made available for computation of Retirement and Death
      Benefits.

              

      

      

      
        	
                2.

              	
                Death Benefit (Article III
      of Plan):

              

      

      

      $               
per month for first twelve (12) months.

      

      $               
per month for next one hundred and eight (108) months or until Participant would
have attained his or her Normal Retirement Date, whichever is
later.

      

      
        	
                3.

              	
                Retirement Benefit
      (Article IV of Plan):

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Retirement
      at Normal Retirement Date: $                       
      per month for life.  If Participant shall die prior to receiving
      one hundred and twenty (120)  monthly payments, said amount
      shall be continued to Participant's Beneficiary in accordance with
      Beneficiary Designation until the balance of the one hundred and twenty
      (120) monthly payments has been
paid.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                Retirement
      before Normal Retirement Date:  Amounts to be determined and
      paid as specified by Section 4.2(a) of the Plan unless an
      election is made below to be paid at Participant’s Normal Retirement
      Date:

              

      

      

      
        	
                 
      

              	____	
                I
      elect that, if I retire on Early Retirement under the Plan, my Retirement
      Benefit will commence at my Normal Retirement Date (rather than 6 months
      after my Early Retirement Date as provided in Section 4.2(a) of the
      Plan) or, if earlier, after my death as provided in Section 4.2(b) of
      the Plan.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (c)

              	
                Termination
      Benefit:  Amounts to be determined and paid as specified by
      Section 4.6 of the Plan.

              

      

      

      
        	
                4.

              	
                Disability Waiver
      (Article III of Plan):  In the event of Disability
      (as defined in Section 1.1 of the Plan), Participant’s deferral shall
      be waived pursuant to Section 3.5 of the
Plan.

              

      

      

      
        	
                5.

              	
                Participant Contributions
      (Article III of Plan):  The Participant’s deferral
      from compensation with respect to the Death Benefit under Article III
      of the Plan is

              

      

      

      $               
per month.

      

      
        	
                 
      

              	
                The
      Participant hereby authorizes the Employer to reduce his or her
      compensation by the amount specified in the immediately preceding sentence
      (which he or she previously agreed to) and which he or she acknowledges
      and agrees shall remain in effect as of January 1, 2008 and shall
      continue thereafter until no longer required to do so pursuant to the
      applicable provisions of the Plan.

              

      

      

      
        	
                 
      

              	
                The
      Participant hereby agrees, in the event that the Participant is on an
      authorized leave of absence or Disabled (as defined in Section 1.1 of
      the Plan), to make payment to the Bank of said amounts as provided in the
      Plan.

              

      

      

      
        	
                 
      

              	
                I
      understand and further acknowledge that if I terminate the relationship
      with the above-named Bank or terminate participation in the Plan by
      terminating this Plan Agreement prior to my Retirement (as defined in
      Section 1.1 of the Plan) or commencement of my Retirement Benefit
      payment pursuant to Section 4.1(b) of the Plan, except as provided in
      Section 4.6 of the Plan, I will forfeit my right to receive any
      benefits under the Plan and that all payments that I have made under the
      Plan (in accordance with Article III thereof and Item 5 above)
      will be forfeited.

              

      

      

      
        	
                 
      

              	
                I
      further acknowledge that any rights I or any Beneficiary have shall be
      solely those of an unsecured-creditor of the Bank.  If the Bank
      shall purchase an insurance policy or any other asset in connection with
      the liabilities assumed by it hereunder, then, except as otherwise
      expressly provided, such policy or other assets shall not be deemed to be
      held under any trust for my benefit or the benefit of my Beneficiary or to
      be collateral security for the performance of the obligations of the Bank,
      but shall be, and remain, a general, unpledged, unrestricted asset of the
      Bank.

              

      

      

      
        	
                 
      

              	
                I
      further acknowledge that neither the Bank nor any of its subsidiaries,
      affiliated companies, officers, employees or agents has any responsibility
      whatsoever for any changes which I may make in other personal plans or
      programs as a result of my decision regarding the Plan and they are fully
      released to such extent, and I understand that the Plan and this Plan
      Agreement may be terminated at any time, in the sole discretion of the
      Bank, without any obligation of any nature whatsoever to the Bank, except
      a Participant shall have those rights provided for in Articles III, IV,
      VIII and IX of said Plan, to the extent such may be applicable to him or
      her at the time of such
termination.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, TRUSTMARK NATIONAL BANK, JACKSON, MISSISSIPPI has executed this
Plan Agreement as of  , 20 .

      

      

      
        	 
      	
                TRUSTMARK
      NATIONAL BANK, JACKSON, MISSISSIPPI

              
	 
      	 
      
	 
      	
                By

              	 
      
	 
      	 
      
	 
      	
                Title

              	 
      
	 
      	 
      
	 
      	 
      
	 
      	
                PARTICIPANT

              
	 
      	 
      
	 
      	 
      
	 
      	
                (Signature)

              
	 
      	 
      
	 
      	 
      
	 
      	
                (Type
      or print name)

              
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	
                (Address
      of Participant)

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ANNEX
II

      EXECUTIVE
DEFERRAL PLAN

      

      OF

      

      TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

      

      BENEFICIARY
DESIGNATION

      

      
        	
                 

              	 	 	 
	
                1.

              	
                Participant:

              	
                 

              	. 

      

      

      
        	
                2.

              	
                Scope:  This
      Beneficiary Designation applies to all benefits of the Plan to which the
      above-named Participant has the right to name the
    Beneficiary.

              

      

      

      
        	
                3.

              	
                COUNSEL:  THE
      DESIGNATION OF A BENEFICIARY OR BENEFICIARIES IN ITEMS 4, 5, AND 6 BELOW
      MAY HAVE SIGNIFICANT ESTATE AND GIFT TAX CONSEQUENCES TO THE
      PARTICIPANT.  ACCORDINGLY, THE PARTICIPANT SHOULD SEEK THE
      ADVICE OF PROFESSIONAL COUNSEL WHO IS FAMILIAR WITH THE ESTATE AND GIFT
      TAX ASPECTS OF NONQUALIFIED RETIREMENT AND SALARY CONTINUATION PLANS
      BEFORE COMPLETING THIS FORM.

              

      

      

      
        	
                4.

              	
                Identification
      of Beneficiaries:

              

      

      

      
        	
                A.

              	
                Primary
      Beneficiary:

              	 
      
	
                 
      

              	 
      
	 
      	 
      
	 
      	 
      
	
                B.

              	
                Secondary
      Beneficiary:

              	 
      
	 
      	
                 

              	 
      
	 
      	 
      

      

      

      
      

      
        	5.	Methods
      of Payment (Check One):
	
                 

              	 	 
	____	
                Alternative
      1.  Beneficiary shall mean the Primary Beneficiary if
      such Primary Beneficiary survives Participant, and shall mean the Primary
      Beneficiary's estate if such Primary Beneficiary survives Participant but
      thereafter dies.  The term Beneficiary shall mean the Secondary
      Beneficiary if the Primary Beneficiary fails to survive Participant, and
      shall mean the Secondary Beneficiary's estate when the Secondary
      Beneficiary thereafter dies.  If both the Primary and Secondary
      Beneficiaries fail to survive Participant, the term Beneficiary shall mean
      the Participant's estate.

              
	 	 	 
	____	
                Alternative
      2.  Beneficiary shall mean the Primary Beneficiary if
      such Primary Beneficiary survives Participant, and shall mean the
      Secondary Beneficiary if either the Primary Beneficiary fails to survive
      Participant or the Primary Beneficiary survives Participant but thereafter
      dies.  If both the Primary and Secondary Beneficiaries fail to
      survive Participant, the term Beneficiary shall mean the Participant's
      estate.

              
	 	 	 
	_____	Alternative 3.	 
      
	 
      	 	 
      
	 
      	 	 
      
	 
      	 	 
      

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                6.

              	
                Survivorship
      (Check One):

              

      

      

      
        	____	
                Alternative
      1.  For purposes of this Beneficiary Designation, no
      person shall be deemed to have survived the Participant if that person
      dies within thirty (30) days of the Participant's
  death.

              

      

      

      
        	____	
                Alternative
      2.  If the Participant and the Participant's spouse die
      under circumstances such that there is insufficient evidence to determine
      the order of their deaths or if the Participant's spouse outlives the
      Participant for any time whatsoever, the Participant's spouse shall be
      deemed to have survived the Participant.  For all other purposes
      of this Beneficiary Designation, no person shall be deemed to have
      survived the Participant if that person dies within thirty (30) days of
      the Participant's death.

              

      

      

      
        	
                7.

              	
                Duration:  This
      Beneficiary Designation is effective until the Participant files another
      such Designation with the Bank.  Any previous Beneficiary
      Designations are hereby revoked.

              

      

      

      
        	
                8.

              	
                Execution:

              

      

      

      
        	
                Date:

              	 
      	
                Participant:

              	 
      

      

      

      
        	
                Witness:

              	 
      	 
      

      

      

      
        	
                9.

              	
                Approval:  This
      Beneficiary Designation is acknowledged and approved this   day of
      _______________, 20  and
      shall be effective as of the date executed by the Participant
      above.

              

      

      

      

      

      
        	 
      	
                TRUSTMARK
      NATIONAL BANK, JACKSON, MISSISSIPPI

              
	 
      	 
      
	 
      	 
      
	 
      	
                By

              	 
      
	 
      	 
      
	 
      	
                TitleUnassociated Document

    
      

    

    Exhibit
10-e

    

    

    DIRECTORS'

    

    

    DEFERRED
FEE PLAN

    

    

    OF

    

    

    TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

    

    

    As
Restated Effective as of December 31, 2007

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    DIRECTORS'

    

    DEFERRED FEE
PLAN

    

    OF

    

    TRUSTMARK NATIONAL BANK,
JACKSON, MISSISSIPPI

    

    As
Restated Effective as of December 31, 2007

    

    

    PURPOSE
AND EFFECTIVE DATE

    

    The
purpose of the Directors' Deferred Fee Plan of Trustmark National Bank, Jackson,
Mississippi is to provide specified benefits to Directors who contribute
materially to the continued growth, development and future business success of
Trustmark National Bank,
Jackson, Mississippi.  It is the intention of Trustmark National Bank, Jackson,
Mississippi that this program and the individual plans established
hereunder be administered as unfunded welfare benefit plans established for
Directors of the Bank.  The effective date of this Plan is February
12, 1985; and this Plan was amended and restated as of February 12,
1986.  This Plan was last restated effective January 1,
1999.  This Plan is further amended and restated as of
December 31, 2007 in order to comply, where applicable, with the
requirements of Code Section 409A (as defined below).

    

    ARTICLE
I

    

    DEFINITIONS AND
CONSTRUCTION

    

    
      	
              1.1

            	
              Definitions.  For
      purposes of this Plan, the following phrases or terms shall have the
      indicated meanings unless otherwise clearly apparent from the
      context:

            

    

    

    
      	
               
      

            	
              (e)

            	
              "Bank" shall
      mean Trustmark National
      Bank, Jackson, Mississippi and any Subsidiary that duly adopts the
      Plan as provided in Article XIV hereof.  Where the context
      dictates, the term "Bank" as used herein refers to the particular Bank
      that has entered into a Plan Agreement with a particular
      Participant.

            

    

    

    
      	
               
      

            	
              (b)

            	
              "Beneficiary"
      shall mean the person, persons or estate of a Participant, entitled to
      receive any benefits subsequent to the death of a Participant under a Plan
      Agreement entered into in accordance with the terms of this
      Plan.

            

    

    

    
      	
               
      

            	
              (c)

            	
              "Beneficiary
      Designation" shall mean the form of written agreement, attached
      hereto as Annex II, by which the Participant names the Beneficiary(ies) of
      the Plan.

            

    

    

    
      	
               
      

            	
              (d)

            	
              "Benefit Level"
      shall mean that level of Benefits (Death and Retirement) which is made
      available by the Bank to the Participant for computation of Retirement and
      Death Benefits pursuant to the terms and conditions of the
      Plan.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (e)

            	
              "Board of
      Directors" shall mean the Board of Directors of Trustmark National Bank,
      Jackson, Mississippi unless otherwise indicated or the context
      otherwise requires.

            

    

    

    
      	
               
      

            	
              (f)

            	
              "Buyout" shall
      mean a transaction or series of related transactions by which the Bank or
      Holding Company is sold, either through the sale of a Controlling Interest
      in the Bank's or Holding Company’s voting stock or through the sale of
      substantially all of the Bank's or Holding Company’s assets, to a party
      not having a Controlling Interest in the Bank's or Holding Company’s
      voting stock.

            

    

    

    
      	
               
      

            	
              (g)

            	
              "Change in
      Control" shall mean a Buyout, Merger, or Substantial Change in
      Ownership.

            

    

    

    
      	
               
      

            	
              (h)

            	
              "Code" shall
      mean the Internal Revenue Code of 1986, as the same may be amended from
      time to time, or the corresponding Section of any subsequent Internal
      Revenue Code, and, to the extent not inconsistent therewith, regulations
      issued thereunder.

            

    

    

    
      	
               
      

            	
              (i)

            	
              "Committee"
      shall mean the Human Resources Committee of the Board of Directors of the
      Holding Company (or any successor committee thereto) or any other
      committee appointed by the Board of Directors of the Bank in lieu thereof
      to manage and administer the Plan and individual Plan Agreements in
      accordance with the provisions of Article XII
  hereof.

            

    

    

    
      	
               
      

            	
              (k)

            	
              "Controlling
      Interest" shall mean ownership, either directly or indirectly, of
      more than twenty percent (20%) of the Bank's or Holding Company’s voting
      stock.

            

    

    

    
      	
               
      

            	
              (l)

            	
              "Death Benefit"
      shall mean the benefit provided under Article III of the
      Plan.

            

    

    

    
      	
               
      

            	
              (l)

            	
              "Director" shall
      mean any person who is associated as a Director or Advisory Director with
      the Bank or one of its
Subsidiaries.

            

    

    

    
      	
               
      

            	
              (m)

            	
              "Disability" or
      "Disabled" shall mean that a Participant is disabled as provided in
      Section 3.8.

            

    

    

    
      	
               
      

            	
              (n)

            	
              "Election to
      Participate" shall mean the form of written agreement that will be
      executed and entered into between a Participant and the Bank specifying
      the amount of annual compensation to be deferred immediately following the
      date of execution of said "Election to Participate" and continuing
      thereafter under the terms of the
Plan.

            

    

    

    
      	
               
      

            	
              (o)

            	
              “Employer(s)”
      shall mean the Bank and/or any Subsidiary (now in existence or hereafter
      formed or acquired) that duly adopts the Plan as provided in
      Article XIV hereof.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (p)

            	
              “ERISA” shall
      mean the Employee Retirement Income Security Act of 1974, as it may be
      amended from time to time, and, to the extent not inconsistent therewith,
      regulations issued thereunder.

            

    

    

    
      	
               
      

            	
              (q)

            	
              "Holding
      Company" shall mean Trustmark
  Corporation.

            

    

    

    
      	
               
      

            	
              (r)

            	
              "Merger" shall
      mean a transaction or series of transactions wherein the Bank or Holding
      Company is combined with another business entity, and after which the
      persons or entities who had owned, either directly or indirectly, a
      Controlling Interest in the Bank's or Holding Company’s voting stock own
      less than a Controlling Interest in the voting stock of the combined
      entity.

            

    

    

    
      	
               
      

            	
              (s)

            	
              "Normal Retirement
      Date" shall be March 1 following Participant’s sixty-fifth
      (65th) birthday.

            

    

    

    
      	
               
      

            	
              (t)

            	
              "Participant"
      shall mean a Director who is selected and elects to participate in the
      Plan through the execution of a Plan Agreement in accordance with the
      provisions of Article II.

            

    

    

    
      	
               
      

            	
              (u)

            	
              "Participant's Benefit
      Level" shall mean that portion of the Benefit Level which the
      Participant chooses as a basis for computation of Death and Retirement
      Benefits pursuant to the terms and conditions of the
  Plan.

            

    

    

    
      	
               
      

            	
              (v)

            	
              "Plan" shall
      mean the Directors' Deferred Fee Plan of Trustmark National Bank,
      Jackson, Mississippi as amended from time to
  time.

            

    

    

    
      	
               
      

            	
              (w)

            	
              "Plan Agreement"
      shall mean the form of written agreement, attached hereto as Annex I,
      which is entered into from time to time by and between the Bank and a
      Director selected to become a Participant as a condition to participation
      in the Plan.  Each Plan Agreement executed by a Participant
      shall provide for the entire benefit to which such Participant is entitled
      under the Plan, and the Plan Agreement bearing the latest date shall
      govern such entitlement.

            

    

    

    
      	
               
      

            	
              (x)

            	
              "Retirement" and
      "Retire"
      shall mean severance of relationship with the Bank at or after the
      attainment of his or her Normal Retirement
Date.

            

    

    

    
      	
               
      

            	
              (y)

            	
              "Retirement
      Benefit" shall mean the benefit provided under Article IV of
      the Plan.

            

    

    

    
      	
               
      

            	
              (aa)

            	
              "Subsidiary"
      shall mean any business organization in which Trustmark National Bank,
      Jackson, Mississippi, directly or indirectly, owns an interest,
      excluding ownership interests Trustmark National Bank,
      Jackson, Mississippi may hold in their fiduciary capacities as
      trustee or otherwise, and any other business organization that the Board
      of Directors designates as a Subsidiary for purposes of this Plan,
      provided in each such case the business organization would be aggregated
      and treated as a single employer with Trustmark National Bank,
      Jackson, Mississippi under Code Section 414(b) (controlled
      group of corporations) and Code Section 414(c) (a group of trades or
      businesses, whether or not incorporated, under common control), as
      applicable.  In order to identify the group of entities
      described in the preceding sentence, the Committee shall use an ownership
      threshold of at least eighty percent (80%) when applying, the applicable
      provisions of (1) Code Section 1563 for determining a controlled
      group of corporations under Code Section 414(b), and (2) Treas. Reg.
      Sec.1.414(c)-2 for determining the trades or businesses that are under
      common control under Code
Section 414(c).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (bb)

            	
              "Substantial Change in
      Ownership" shall mean a transaction or series of transactions in
      which a Controlling Interest in the Bank or Holding Company is acquired by
      or for a person or business entity, either of which did not own, either
      directly or indirectly, a Controlling Interest in the Bank or Holding
      Company.  The above shall not apply to stock purchased by any
      tax-qualified employee stock ownership plan or other such type of benefit
      plan sponsored by the Bank or any company affiliated with the Bank or the
      Holding Company.

            

    

    

    
      	
              1.2

            	
              Construction.

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      masculine gender when used herein shall be deemed to include the feminine
      gender, and the singular may include the plural unless the context clearly
      indicates to the contrary.  The words "hereof", "herein,"
      "hereunder", and other similar compounds of the word "here" shall mean and
      refer to the entire Plan and not to any particular provision or
      section.  Whenever the words "Article" or "Section" are used in
      this Plan, or a cross-reference to an "Article" or "Section" is made, the
      Article or Section referred to shall be an Article or
      Section of this Plan unless otherwise
  specified.

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      Plan is intended to be a plan that is not qualified within the meaning of
      Code Section 401(a) and that “is unfunded.  It not intended
      to be covered by ERISA, but if it is considered to be covered by ERISA, it
      should be viewed as maintained 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).  Except with respect to Plan benefits
      not subject to Code Section 409A, the Plan shall be administered and
      interpreted (i) to the extent possible in a manner consistent with
      the intent described in the preceding sentence, and (ii) in
      accordance with Code Section 409A and related Treasury
      guidance.

            

    

    

    
      	
              1.3

            	
              Applicability of Code
      Section 409A.  It is
      intended that if no part of a Participant’s Retirement
      Benefit is earned or becomes vested after December 31, 2004 and there
      is no material modification with respect to such benefit which would cause
      it to become subject to Code Section 409A, then neither this Plan
      restatement nor Code Section 409A shall apply to such
      Participant’s Plan benefits, and the payment of such
      Participant’s Plan benefits shall be governed by the terms of
      the Plan as in effect on December 31,
  2004.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
II

    

    ELIGIBILITY AND
PARTICIPATION

    

    
      	
              2.1

            	
              Eligibility.  In
      order to be eligible for participation in the Plan, a Director must be
      selected by the Committee in the year preceding the year in which the
      Director is eligible to participate as hereinafter
      provided.  The Committee, in its sole and absolute discretion,
      shall determine eligibility for participation in accordance with the
      purposes of the Plan.

            

    

    

    
      	
              2.2

            	
              Participation.  After
      being selected by the Committee to participate in this Plan, a Director
      shall, as a condition precedent to participation herein, complete and
      return to the Committee a duly executed Plan Agreement and Election to
      Participate electing to participate herein and agreeing to the terms and
      conditions thereof, and by the execution of such Plan Agreement and
      Election to Participate a Participant shall agree that all amounts
      deferred thereby shall be irrevocably deferred and that in lieu thereof
      the Participant shall be entitled solely to the benefits provided under
      this Plan.  Such Plan Agreement shall be completed and returned
      to the committee at the time specified thereby, and should be subsequent
      to December 31st of the year preceding the year to which the Plan
      Agreement relates.

            

    

    

    ARTICLE
III

    

    DEATH
BENEFIT

    

    
      	
              3.1

            	
              Amount and Payment of
      Death Benefit.  If a Participant dies before Retirement,
      before his or her Retirement Benefit commences to be paid pursuant to
      Section 4.1(b) and the Plan is in effect at that time, the Bank will
      pay or cause to be paid a Death Benefit to such Participant's
      Beneficiary.  The said Death Benefit shall be one hundred
      percent (100%) of the Participant's Benefit Level as set forth in the Plan
      Agreement paid monthly for the next one hundred and twenty (120)
      months.  Such payments shall commence effective the first day of
      the month following the date of
death.

            

    

    

    Notwithstanding
the immediately preceding paragraph of this Section 3.1, the Bank will pay or
cause to be paid the Death Benefit specified therein only if:

    

    
      	
               
      

            	
              (a)

            	
              At
      the time of the Participant's death prior to attaining his or her Normal
      Retirement Date:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Such
      Participant was a Director and had not Retired, or was Disabled or on
      authorized leave of absence, his or her Retirement Benefit has not
      commenced to be paid pursuant to Section 4.1(b) and all deferrals and
      payments required to be made by such Participant under Sections 3.2 et.
      seq. have been made, or

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (ii)

            	
              Such
      required deferrals or payments were waived pursuant to Section 3.5 because
      of such Participant's Disability;

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      Participant's Plan Agreement had been kept in force throughout the period
      commencing on the date of such Plan Agreement and ending on the date of
      his or her death;

            

    

    

    
      	
               
      

            	
              (c)

            	
              The
      Participant's death was due to causes other than suicide within two (2)
      years of the date of his or her original Plan Agreement or within two (2)
      years of the date of any amendment to his or her Plan Agreement or any
      subsequent Plan Agreement resulting from additional benefits granted
      because of an increase in the Participant's Benefit Level; but the
      Participant's suicide shall relieve the Bank only of its obligation to pay
      that portion of the Death Benefit that was granted within two (2) years
      prior to the date of such suicide;

            

    

    

    
      	
               
      

            	
              (d)

            	
              The
      Participant's death is determined not to be from a bodily or mental cause
      or causes, information about which was withheld, or knowingly concealed,
      or falsely provided by the Participant when requested by the Bank to
      furnish evidence of good health upon the Participant's enrolling in the
      Plan or upon an application for an increase in benefits because of an
      increase in Participant's Benefit Level;
and

            

    

    

    
      	
               
      

            	
              (e)

            	
              Proof
      of death in such form as determined acceptable by the Committee is
      furnished.

            

    

    

    
      	
              3.2

            	
              Amount of Participant
      Deferral and Payments.  In consideration for the Death
      Benefit selected in Participant's Plan Agreement, each Participant shall
      defer an amount of his or her compensation in such amounts and at such
      times as shall be determined by the Committee and as specified in his or
      her Election to Participate, and the Committee may change the amount of
      such deferral prospectively on a calendar year by calendar year basis,
      provided that any change is made prior to the beginning of the calendar
      year for which it is effective.  If a Participant is authorized
      to take a leave of absence from his or her relationship or, subject to the
      provisions of Section 3.5, is Disabled, the Participant shall be required
      to make payments to the Bank in accordance with this Article III in
      order to maintain his or her Plan Agreement in force.  A
      Participant's obligation to defer an amount of his or her compensation in
      accordance with this Article III or to make the payments required by
      this Article III shall be stated in his or her Plan Agreement and
      Election to Participate, shall commence on the date his or her Plan
      Agreement becomes effective, and shall continue thereafter during the term
      of his or her Plan Agreement or until the earlier of such Participant's
      death or attainment of his or her Normal Retirement Date.  A
      Participant shall have the right, prospectively on a calendar year by
      calendar year basis, to increase or decrease the amount of his or her
      deferral initially selected by him by amending his or her Plan Agreement
      and Election to Participate in accordance with the rules adopted by the
      Committee for this purpose, provided that any change is agreed to prior to
      the beginning of the calendar year for which it is
    effective.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              3.3

            	
              Time and Manner of
      Deferring or Making Payments.  A Participant shall, in
      his or her Plan Agreement and Election to Participate, authorize the
      Employer to defer an amount of such Participant's compensation equal to
      the amount specified pursuant to Section 3.2.  A Participant who
      is on authorized leave of absence or is Disabled and who is required to
      make the payments required in this Article III shall make such
      payments at such time and in such manner as the Committee shall provide;
      provided, however, that the Participant shall not continue to make such
      payments during any period in which a portion of his or her compensation
      is being deferred or such payments have been waived pursuant to Section
      3.5.

            

    

    

    
      	
              3.4

            	
              Participant Deferrals
      and Payments - Use and Forfeitability.  The amount of
      each Participant's compensation deferred pursuant to Sections 3.2 and 3.3
      shall be and remain solely the property of the Bank and the amount
      collected by the Bank pursuant to Sections 3.2 and 3.3 from each
      Participant who is on an authorized leave of absence or Disabled shall be
      and become solely the property of the Bank, and a Participant shall have
      no right thereto, nor shall the Bank be obligated to use such amounts in
      any specific manner.  Except as provided in Article IV, if a
      Participant's death occurs under circumstances other than those specified
      in Section 3.1, no benefit shall be payable hereunder or under his or her
      Plan Agreement to his or her Beneficiary or any other person or entity on
      his or her behalf, and any payments made by such Participant under
      Sections 3.2 and 3.3 shall be
forfeited.

            

    

    

    
      	
              3.5

            	
              Waiver of Participant
      Deferral or Payments.  If a Participant becomes Disabled
      before attaining his or her Normal Retirement Date, the Disability
      continues for more than three (3) months, and the Disability benefit
      specified in Item 4 of the Participant's Plan Agreement is in effect,
      such Participant shall not be required to defer a portion of his or her
      compensation pursuant to Sections 3.2 and 3.3 or make the payments
      provided for in Sections 3.2 and 3.3, commencing with the fourth (4th)
      month following the date of such Disability and continuing thereafter for
      as long as such Disability
continues.

            

    

    

    
      	
              3.6

            	
              Required Payments and
      Leave of Absence.  If a Participant is authorized by the
      Bank for any reason, including military, medical or other, to take a leave
      of absence, such Participant shall be required to make payments in order
      to maintain his or her Plan Agreement in force (first out of his or her
      compensation during such leave of absence and, if his of her compensation
      is insufficient, from his or her personal assets).  Such
      required payments shall be an amount equal to the amount of the
      Participant's compensation that is to be deferred under the terms of his
      or her Plan Agreement and Election to Participate.  A
      Participant required to make payments under this Section 3.6 shall
      continue making such required payments until the earlier of (i) the
      date he or she returns to his or her duties following a leave of absence,
      (ii) the date such payments are waived pursuant to Section 3.5, or
      (iii) the effective date that he or she enters into a new Plan
      Agreement and Election to Participate.  If a Participant's
      payments are waived pursuant to Section 3.5 and subsequently the
      Participant returns to his or her duties, he or she shall be required to
      resume deferring his or her compensation, in the amount specified
      above.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              3.7

            	
              Failure to Make
      Required Payments.  Failure to make payments required by
      Section 3.6 shall cause Participant's Plan Agreement to terminate without
      the necessity of any notice from either party to the
      other.  From and after such termination, except as provided in
      Section 4.5 hereof, neither party shall have any further obligation to the
      other party under this Plan or such Plan
  Agreement.

            

    

    

    
      	
              3.8

            	
              Disability.

            

    

    

    
      	
               
      

            	
              (a)

            	
              If
      a Participant becomes Disabled before attaining his or her Normal
      Retirement Date and subsequently dies before Retirement and before his or
      her Retirement Benefit commences to be paid pursuant to
      Section 4.1(b) and while the waiver described in Section 3.5 is in
      effect, the Death Benefit provided in this Article III shall be
      paid.  If a Participant Retires while the waiver described in
      Section 3.5 after becoming Disabled or attains his or her Normal
      Retirement Date or commences to be paid pursuant to Section 4.1(b),
      the Retirement Benefit provided in Article IV shall be
      paid.

            

    

    

    
      	
               
      

            	
              (b)

            	
              For
      purposes hereof, either Disability and Disabled means unable to engage in
      any substantial gainful activity (1) by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than twelve (12) months, or (2) by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than twelve (12) months, where the Participant is receiving income
      replacement benefits for a period of not less than 3 months under an
      accident and health plan covering employees of the Participant’s
      Employer.  For purposes of this Plan, a Participant shall be
      deemed Disabled if determined to be totally disabled by the Social
      Security Administration.  A Participant shall also be deemed
      Disabled if determined to be disabled in accordance with the applicable
      disability insurance program of such Participant’s Employer, provided that
      the definition of “disability” applied under such disability insurance
      program complies with the requirements
hereof.

            

    

    

    Notwithstanding
the foregoing, a Participant will not be considered Disabled
unless:

    

    
      	
               
      

            	
              (1)

            	
              such
      Disability was not either intentionally self-inflicted or caused by
      illegal or criminal acts of the
Participant;

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Participant was a Director at the time he or she became Disabled (or was
      then on an authorized Leave of Absence) and had made all payments required
      hereunder;

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (3)

            	
              the
      Participant's Plan Agreement has been kept in force until the time of such
      Disability; and

            

    

    

    
      	
               
      

            	
              (4)

            	
              the
      Committee has approved the waiver of such fee and such waiver is so noted
      in the Participant's Plan
Agreement.

            

    

    

    The
determination of what constitutes a Disability or being Disabled and the
cessation of being Disabled for purposes of this Section 3.8 shall be made
by the Committee, in its sole and absolute discretion, and such determination
shall be conclusive.

    

    ARTICLE
IV

    

    RETIREMENT
BENEFIT

    

    
      	
              4.1

            	
              Payment at Normal
      Retirement Date.

            

    

    

    
      	
               
      

            	
              (a)

            	
              If
      a Participant has remained a Director until his or her Normal Retirement
      Date and shall then Retire, and if the Plan and his or her Plan Agreement
      have been kept in force, the Bank shall pay or cause to be paid to such
      Participant, as a Retirement Benefit (herein so called), the amount per
      month specified in his or her Plan Agreement as a Retirement
      Benefit.  Payment of such monthly amount shall commence on the
      Participant's Normal Retirement Date and shall continue for the life of
      the Participant.  If such Participant shall die before receiving
      three hundred (300) monthly payments, the Retirement Benefit will be
      continued to the Participant's Beneficiary as set forth in the Beneficiary
      Designation until an aggregate of three hundred (300) monthly payments has
      been paid to the Participant and his or her
  Beneficiary.

            

    

    

    
      	
               
      

            	
              (b)

            	
              This
      Section 4.1(b) shall apply, effective January 1,
      2008.  In lieu of payment pursuant to the other applicable
      provisions of this Article IV, if (1) any portion of a Participant’s Retirement
      Benefit is earned or becomes vested after December 31, 2004 and is
      thus subject to Code Section 409A, (2) such a Participant
      has remained a Director until his or her Normal Retirement Date (or, if
      later, until February 29, 2008), and (3) the Plan and such
      Participant’s Plan Agreement have been kept in force until such time, the
      Retirement Benefit of such a Participant shall commence to be paid on the
      Participant's Normal Retirement Date (or if later, on March 1, 2008)
      and shall continue for the life of the Participant.  The amount
      of such monthly payment shall be the amount per month specified in the
      Participant's Plan Agreement on the Participant's Normal Retirement Date
      (increased where applicable for interest at the rate of four percent (4%),
      or such other rate as the Committee may determine from time to time, per
      annum, compounded annually, to the Participant's Normal Retirement Date
      (or if later, to March 1, 2008).  If such Participant shall
      die before receiving three hundred (300) monthly payments, the Retirement
      Benefit will be continued to the Participant's Beneficiary as set forth in
      the Beneficiary Designation until an aggregate of three hundred (300)
      monthly payments has been paid to the Participant and his or her
      Beneficiary.  Notwithstanding any other provisions of the Plan,
      in the event a Participant commences to receive his or her Retirement
      Benefit pursuant to this Section 4.1(b), there shall be no further
      accrual of, or any increase to, the Participant’s Retirement Benefit under
      the Plan after the Participant’s Normal Retirement Date (or, if later,
      February 29, 2008).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              4.2

            	
              Post Retirement Death
      Benefit.  If a Participant dies after Retirement or
      commencement of his or her Retirement Benefit pursuant to
      Section 4.1(b) but before the applicable Retirement Benefit is paid
      in full, the unpaid Retirement Benefit payments to which such Participant
      is entitled shall continue and be paid to that Participant's
      Beneficiary.  Such payments shall be made in accordance with the
      payment schedule to that Participant pursuant to Section 4.1 of the
      Plan.

            

    

    

    
      	
              4.3

            	
              Exclusivity of Post
      Retirement Death Benefit.  No Death Benefit as defined in
      Article III shall be paid to the Beneficiary of a Participant who dies
      after Retirement or commencement of his or her Retirement Benefit pursuant
      to Section 4.1(b).

            

    

    

    
      	
              4.4

            	
              Accrual of Retirement
      Benefit.  A Participant who ceases to be a Director
      before completion of one (1) full year of participation in the Plan,
      except as a result of death, Retirement, or Disability, shall not be
      entitled to any benefits hereunder and the Bank shall have no obligation
      hereunder to such Participant.

            

    

    

    
      	
              4.5

            	
              Deferred Termination
      Benefit.  A Participant who ceases to be a Director after
      the completion of one (1) full year of participation in the Plan shall
      receive a portion of his or her monthly Retirement Benefit upon the
      earlier of (i) the Participant's death or (ii) attainment of his or her
      Normal Retirement Date.  Said portion shall be the monthly
      amount of the Retirement Benefit set forth in the Participant's Plan
      Agreement multiplied by a fraction, the numerator of which is the number
      of whole years said Director was a Participant in the Plan and the
      denominator of which is the number of whole years between such
      Participant's age at entry into the Plan and the Participant's age at his
      or her Normal Retirement Date.  If the Participant's benefits
      have been increased since the Participant's initial entry into this Plan,
      or successor or predecessor plans, the reduced monthly Retirement Benefit
      shall be determined by reducing each incremental benefit increase in
      accordance with the formula.  The resulting reduced monthly
      amount shall be the only benefit to which such Participant is
      entitled.  The reduced monthly amount will be payable for life
      at the attainment of the Participant's Normal Retirement Date and shall be
      continued to Participant's Beneficiary as set forth in the Beneficiary
      Designation until a total of three hundred (300) monthly payments
      including those paid to Participant have been made.  In the
      event the Participant dies before attaining his or her Normal Retirement
      Date, the reduced monthly amount will be payable to Participant's
      Beneficiary as set forth in the Beneficiary Designation.  Such
      payments shall commence at the attainment of what would have been the
      Participant's Normal Retirement Date and shall be payable for three
      hundred (300) months.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
V

    

    BENEFICIARY

    

    A
Participant shall designate his or her Beneficiary to receive benefits under the
Plan and his or her Plan Agreement by completing the Beneficiary
Designation.  If more than one Beneficiary is named, the shares and/or
precedence of each Beneficiary shall be indicated.  A Participant
shall have the right to change the Beneficiary by submitting to the Committee a
new Beneficiary Designation.  The Beneficiary Designation must be
approved in writing by the Bank; however, upon the Bank's acknowledgment of
approval, the effective date of the Beneficiary Designation shall be the date it
was executed by the Participant.  If the Bank has any doubt as to the
proper Beneficiary to receive payments hereunder, it shall have the right to
withhold such payments until the matter is finally adjudicated.  Any
payment made by the Bank in good faith and in accordance with the provisions of
this Plan and a Participant's Plan Agreement and Beneficiary Designation shall
fully discharge the Bank from all further obligations with respect to such
payment.

    

    ARTICLE VI

    

    SOURCE OF
BENEFITS

    

    
      	
              6.1

            	
              Benefits Payable from
      General Assets.  Amounts payable hereunder shall be paid
      exclusively from the general assets of the Bank, and no person entitled to
      payment hereunder shall have any claim, right, security interest, or other
      interest in any fund, trust, account, or other asset of the Bank that may
      be looked to for such payment.  The Bank's liability for the
      payment of benefits hereunder shall be evidenced only by this Plan and
      each Plan Agreement entered into between the Bank and a
      Participant.

            

    

    

    
      	
              6.2

            	
              Investments to
      Facilitate Payment of Benefits.  Although the Bank is not
      obligated to invest in any specific asset or fund in order to provide the
      means for the payment of any liabilities under this Plan, the Bank may
      elect to do so and, in such event, no Participant shall have any interest
      whatever in such asset or fund.  As a condition precedent to the
      Bank's obligation to provide any benefits, including incremental increases
      in benefits, under this Plan, the Participant shall, if so requested by
      the Bank, provide evidence of insurability at standard and other rates, in
      such amounts, and with such insurance carrier or carriers as the Bank may
      require, including the results and reports of previous Bank and other
      insurance carrier physical examinations, taking such additional physical
      examinations as the Bank may request, and taking any other action that the
      Bank may request, and shall consent to the Bank’s acquisition of insurance
      on his or her life.  If a Participant is requested to and does
      not or cannot provide evidence of insurability as specified in the
      immediately preceding sentence, then the Bank shall have no further
      obligation to such Participant under this Plan, and such Participant's
      Plan Agreement shall terminate, except as to benefits previously
      granted.  Notwithstanding the foregoing, if a Participant cannot
      provide evidence of insurability at standard rates or for the amounts
      initially contemplated in connection with his or her participation in the
      Plan, the Bank may, at its discretion, permit the Participant to
      participate herein for such benefits and upon such deferral of his or her
      compensation as the Bank may, in its sole discretion, deem appropriate in
      a manner which is not violative of Code Section 409A and is set out
      in his or her Plan Agreement.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
Participant also understands and agrees that his or her participation, in any
way, in the acquisition of any such insurance policy or any other general asset
by the Bank shall not constitute a representation to the Participant, his or her
Beneficiary, or any person claiming through the Participant that any of them has
a special or beneficial interest in such general asset.

    

    
      	
              6.3

            	
              Bank
      Obligation.  The Bank shall have no obligation of any
      nature whatsoever to a Participant under this Plan or a Participant's Plan
      Agreement, except otherwise expressly provided herein and in such Plan
      Agreement.

            

    

    

    
      	
              6.4

            	
              Withholding of
      Information, Etc.  If, in connection with a Participant's
      enrolling in or applying for incremental benefit increases under the Plan,
      the Bank requests the Participant to furnish evidence of insurability, the
      Participant dies, and it is determined that the Participant withheld,
      knowingly concealed, or knowingly provided false information about the
      bodily or mental condition or conditions that caused the Participant's
      death, the Bank shall have no obligation to provide the benefits
      contracted for on the basis of such withholding, concealment, or false
      information.

            

    

    

    ARTICLE VII

    

    TERMINATION OF
RELATIONSHIP

    

    Neither
this Plan nor a Participant's Plan Agreement, either singly or collectively, in
any way obligate the Bank to continue the relationship of a Participant with the
Bank nor does either limit the right of the Bank at any time and for any reason
to terminate the Participant's relationship.  Termination of a
Participant's relationship with the Bank for any reason, whether by action of
the Bank, shall immediately terminate his or her participation in this Plan and
his or her Plan Agreement, and all further obligations of either party
thereunder, except as may be provided in Section 4.5 and/or Section
9.3.  In no event shall this Plan or a Plan Agreement, either singly
or collectively, by their terms or implications constitute an employment
contract of any nature whatsoever between the Bank and a
Participant.

    

     

    ARTICLE VIII

    

    TERMINATION OF
PARTICIPATION

    

    
      	
              8.1

            	
              Termination of
      Participation - General.  A Participant reserves the
      right to terminate his or her participation in this Plan and his or her
      Plan Agreement at his or her election at any time by giving the Committee
      written notice of such termination not less than thirty (30) days prior to
      an anniversary date of the date of execution of his or her Plan
      Agreement.  A Participant's termination shall be effective as
      soon as administratively convenient after such anniversary
      date.  If a Participant terminates his or her participation in
      the Plan, such participation termination must not be violative of Code
      Section 409A and, in the case of a Participant who has agreed to a
      deferral of compensation pursuant to the Plan, must be effected as of the
      beginning of a calendar year, or as of a specified date is a calendar
      year, following the calendar year in which the Participant delivers
      written notice of his or her participation termination to the
      Committee.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              8.2

            	
              Rights After
      Termination of Participation.  Participants who elect to
      terminate participation in the Plan after one (1) full year of
      participation but before eligibility for Retirement will be entitled to
      the same benefits as a Participant who ceases to be a Director as
      described in Section 4.5.  Such Participants will not be
      entitled to a Death Benefit under
  Article III.

            

    

    

    ARTICLE IX

    

    TERMINATIONS, AMENDMENTS,
MODIFICATION OR

    

    SUPPLEMENT OF
PLAN

    

    
      	
              9.1

            	
              Termination Amendment,
      Etc.  The Bank reserves the right to terminate, amend,
      modify or supplement this Plan, wholly or partially, and from time to
      time, at any time.  The Bank likewise reserves the right to
      terminate, amend, modify, or supplement any Plan Agreement, wholly or
      partially, from time to time.  Such right to terminate, amend,
      modify, or supplement this Plan or any Plan Agreement shall be exercised
      for the Bank by the Committee; provided, however,
  that:

            

    

    

    
      	
               
      

            	
              (a)

            	
              Except
      as deemed appropriate to comply with Code Section 409A, no action to
      terminate this Plan or a Plan Agreement shall be taken except upon written
      notice to each Participant to be affected thereby, which notice shall be
      given not less than thirty (30) days prior to such action;
    and

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      Committee shall take no action to terminate this Plan or a Plan Agreement
      with respect to a Participant or his or her Beneficiary after the payment
      of any benefit has commenced in accordance with Article III or
      Article IV but has not been
completed.

            

    

    

    Notwithstanding
the foregoing, the Bank may not provide for acceleration in payment of any Plan
benefit subject to Code Section 409A upon termination of the Plan, or for
termination of any compensation deferral by a Participant pursuant to the Plan
in connection with the termination of the Plan, unless it does so subject to and
in accordance with any rules established by it deemed necessary to comply with
the applicable requirements and limitations of Code Section 409A and Treas.
Reg. Sec.1.409A-3(j)(4)(ix).

    

    
      	
              9.2

            	
              Rights and Obligations
      Upon Termination.  Upon the termination of this Plan or
      any Plan Agreements, by either the Committee or a Participant in
      accordance with the provisions for such termination, neither this Plan nor
      the Plan Agreement shall be of any further force and effect, and no party
      shall have any further obligation under either this Plan or any Plan
      Agreement so terminated except as may be provided for in Section 4.5,
      Section 9.3, or the provisions of this
    Article IX.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              9.3

            	
              Rights and Obligations
      Upon Termination as Result of "Change in Control".  In
      the event the Bank or Holding Company should undergo a Change in Control
      to another corporation, firm or person and within three (3) years of such
      Change in Control such corporation, firm or person takes action to
      terminate this Plan or a Participant in the Plan, a Participant who is a
      Director at such time will, nevertheless, be entitled to a portion of his
      or her monthly Retirement Benefit upon the earlier of (i) the
      Participant's death or (ii) attainment of his or her Normal Retirement
      Date.  Said portion shall be the monthly amount of the
      Retirement Benefit set forth in the Participant's Plan Agreement
      multiplied by a fraction, not to exceed one (1), the numerator of which is
      the number of whole years said Director was a Participant in the Plan
      plus, in the case of a Participant who has not attained his or her Normal
      Retirement Date (or, if later, February 29, 2008), five (5)
      additional years and the denominator of which is the number of whole years
      between such Participant's age at entry into the Plan and the
      Participant's age at his or her Normal Retirement Date.  If the
      Participant's benefits have been increased since the Participant's initial
      entry into this Plan, or successor or predecessor plans, the reduced
      monthly Retirement Benefit shall be determined by reducing each
      incremental benefit increase in accordance with the
      formula.  The resulting reduced monthly amount shall be the only
      benefit to which such Participant is entitled.  The reduced
      monthly amount will be payable for life at the attainment of the
      Participant's Normal Retirement Date (subject to delay if required
      pursuant to Code Section 409A), and shall be continued to
      Participant's Beneficiary as set forth in the Beneficiary Designation
      until a total of three hundred (300) monthly payments including those paid
      to Participant have been made.  In the event the Participant
      dies before attaining his or her Normal Retirement Date, the reduced
      monthly amount will be payable to Participant's Beneficiary as set forth
      in the Beneficiary Designation.  Such payments shall commence at
      the attainment of what would have been the Participant's Normal Retirement
      Date and shall be payable for three hundred (300)
  months.

            

    

    

    ARTICLE X

    

    OTHER BENEFITS AND
AGREEMENTS

    

    The
benefits provided for a Participant and his or her Beneficiary hereunder and
under such Participant's Plan Agreement are in addition to any other benefits
available to such Participant under any other program or plan of the Bank for
its Directors, and, except as may otherwise be expressly provided for, this Plan
and Plan Agreements entered into hereunder shall supplement and shall not
supersede, modify, or amend any other program or plan of the Bank or a
Participant.  Moreover, benefits under this Plan and Plan Agreements
entered into hereunder shall not be considered compensation for the purpose of
computing deferrals or benefits under any plan maintained by the Bank that is
qualified under Code Section 401(a).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE XI

    

    RESTRICTIONS ON ALIENATION
OF BENEFITS

    

    No right
or benefit under this Plan or a Plan Agreement shall be subject to anticipation,
alienation, sale, assignment, pledge, encumbrance, or charge, and any attempt to
anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall
be void.  No right or benefit hereunder or under any Plan Agreement
shall in any manner be liable for or subject to the debts, contracts,
liabilities, or torts of the person entitled to such benefit.  If any
Participant or Beneficiary under this Plan or a Plan Agreement should become
bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber, or
charge any right to a benefit hereunder or under any Plan Agreement, then such
right or benefit shall, in the discretion of the Committee, terminate, and, in
such event, the Committee shall hold or apply the same or any part thereof for
the benefit of such Participant or Beneficiary, his or her spouse, children, or
other dependents, or any of them, in such manner and in such portion as the
Committee, in its sole and absolute discretion, may deem proper.

    

    ARTICLE XII

    

    ADMINISTRATION OF THIS
PLAN

    

    
      	
            	
              12.1

            	
              Appointment of
      Committee.  The general administration of this Plan, and
      any Plan Agreements executed hereunder, as well as construction and
      interpretation thereof, shall be vested in the Committee, the number and
      members of which shall be designated and appointed from time to time by,
      and shall serve at the pleasure of, the Board of Directors.  Any
      such member of the Committee may resign by notice in writing filed with
      the secretary of the Committee.  Vacancies shall be filled
      promptly by the Board of Directors but any vacancies remaining unfilled
      for ninety days may be filled by a majority vote of the remaining members
      of the Committee.  Each person appointed a member of the
      Committee shall signify his or her acceptance by filing a written
      acceptance with the secretary of the
Committee.

            

    

    

    
      	
            	
              12.2

            	
              Committee
      Officials.  The Board of Directors shall designate one of
      the members of the Committee as chairman and shall appoint a secretary who
      need not be a member of the Committee.  The secretary shall keep
      minutes of the Committee's proceedings and all data, records and documents
      relating to the Committee's administration of this Plan and any Plan
      Agreements executed hereunder.  The Committee may appoint from
      its number such subcommittees with such powers as the Committee shall
      determine and may authorize one or more of its members or any agent to
      execute or deliver any instrument or make any payment on behalf of the
      Committee.

            

    

    

    
      	
            	
              12.3

            	
              Committee
      Action.  All resolutions or other actions taken by the
      Committee shall be by the vote of a majority of those members present at a
      meeting at which a majority of the members are present, or in writing by
      all the members at the time in office if they act without a
      meeting.

            

    

    

    
      	
            	
              12.4

            	
              Committee Rules and
      Powers - General.  Subject to the provisions of this
      Plan, the Committee shall from time to time establish rules, forms, and
      procedures for the administration of this Plan, including Plan
      Agreements.  The Committee shall have the exclusive right to
      determine, among other matters, (i) Disability with respect to a
      Participant and (ii) the degree thereof, either or both determinations to
      be made on the basis of such medical and/or other evidence that the
      Committee, in its sole and absolute discretion, may
      require.  Such decisions, actions, and records of the Committee
      shall be conclusive and binding upon the Bank and all persons having or
      claiming to have any right or interest in or under this
    Plan.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	
              12.5

            	
              Reliance on
      Certificate, Etc.  The members of the Committee and the
      officers and directors of the Bank shall be entitled to rely on all
      certificates and reports made by any duly appointed accountants, and on
      all opinions given by any duly appointed legal counsel.  Such
      legal counsel may be counsel for the
Bank.

            

    

    

    
      	
            	
              12.6

            	
              Liability of
      Committee.  No member of the Committee shall be liable
      for any act or omission of any other member of the Committee, or for any
      act or omission on his or her own part, excepting only his or her own
      willful misconduct.  The Bank shall indemnify and save harmless
      each member of the Committee against any and all expenses and liabilities
      arising out of his or her membership on the Committee, excepting only
      expenses and liabilities arising out of his or her own willful
      misconduct.  Expenses against which a member of the Committee
      shall be indemnified hereunder shall include, without limitation, the
      amount of any settlement or judgment, costs, counsel fees, and related
      charges reasonably incurred in connection with a claim asserted, or a
      proceeding brought, or settlement thereof.  The foregoing right
      of indemnification shall be in addition to any other rights to which any
      such member may be entitled as a matter of
law.

            

    

    

    
      	
            	
              12.7

            	
              Determination of
      Benefits.  In addition to the powers hereinabove
      specified, the Committee shall have the power to compute and certify,
      under this Plan and any Plan Agreement, the amount and kind of benefits
      from time to time payable to Participants and their Beneficiaries, and to
      authorize all disbursements for such
purposes.

            

    

    

    
      	
            	
              12.8

            	
              Information to
      Committee.  To enable the Committee to perform its
      functions, the Bank shall supply full and timely information to the
      Committee on all matters relating to the compensation of all Participants,
      their retirement, death or other cause for termination of relationship,
      and such other pertinent facts as the Committee may
    require.

            

    

    

    
      	
            	
              12.9

            	
              Manner and time of
      Payment of Benefits.  The Committee shall have the power,
      in its sole and absolute discretion, to change the manner and time of
      payment of benefits to be made to a Participant or his or her Beneficiary
      from that set forth in the Participant's Plan Agreement if requested to do
      so by such Participant or
Beneficiary.

            

    

    

    ARTICLE XIII

    

    NAMED FIDUCIARY AND CLAIMS
PROCEDURE

    

    
      	
            	
              13.1

            	
              Named
      Fiduciary.  The Named Fiduciary of the Plan for purposes
      of the claims procedure under this Plan is the Chief Financial Officer;
      provided, however, that if the claim relates to a Plan benefit of the
      Chief Financial Officer, the Named Fiduciary shall be the person or
      committee designated by the
Bank.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	
              13.2

            	
              Right to Change Named
      Fiduciary.  The Bank shall have the right to change the
      Named Fiduciary created under this Plan.  The Bank shall also
      have the right to change the address and telephone number of the Named
      Fiduciary.  The Bank shall give the Participant written notice
      of any change of the Named Fiduciary, or any change in the address and
      telephone number of the Named
Fiduciary.

            

    

    

    
      	
            	
              13.3

            	
              Procedure for
      Claims.  Benefits shall be paid in accordance with the
      provisions of this Plan.  Any Participant or Beneficiary of a
      deceased Participant (such Participant or Beneficiary being referred to
      below as a “Claimant”) may deliver to the Named Fiduciary a written claim
      for a determination with respect to the amounts distributable to such
      Claimant from the Plan.  The written claim shall be mailed or
      delivered to the Named Fiduciary.  If such a claim relates to
      the contents of a notice received by the Claimant, the claim must be made
      within sixty (60) days after such notice was received by the
      Claimant.  All other claims must be made within one hundred and
      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.

            

    

    

    
      	
            	
              13.4

            	
              Notification of Denial
      of Claim.  The Named Fiduciary shall consider a
      Claimant's claim within a reasonable time, but no later than ninety (90)
      days after receiving the claim.  If the Named Fiduciary
      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 Named Fiduciary expects to
      render the benefit determination.  The Named Fiduciary 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

            

    

    

    
      	
               
      

            	
              (b)

            	
              that
      the Named Fiduciary 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:

            

    

    

    
      	
               
      

            	
              (1)

            	
              the
      specific reason(s) for the denial of the claim, or any part of
      it;

            

    

    

    
      	
               
      

            	
              (2)

            	
              specific
      reference(s) to pertinent provisions of the Plan upon which such denial
      was based;

            

    

    

    
      	
               
      

            	
              (3)

            	
              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; and

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (4)

            	
              an
      explanation of the claim review procedure set forth in Section 13.5
      below.

            

    

    

    
      	
            	
              13.5

            	
              Review of a Denied
      Claim.  On or before sixty (60) days after receiving a
      notice from the Named Fiduciary that a claim has been denied, in whole or
      in part, a Claimant (or the Claimant's duly authorized representative) may
      file with the Named Fiduciary 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 to the claim for
      benefits;

            

    

    

    
      	
               
      

            	
              (b)

            	
              may
      submit written comments or other documents;
  and/or

            

    

    

    
      	
               
      

            	
              (c)

            	
              may
      request a hearing, which the Named Fiduciary, in its sole discretion, may
      grant.

            

    

    

    
      	
            	
              13.6

            	
              Decision on
      Review.  The Named Fiduciary shall render its decision on
      review promptly, and no later than sixty (60) days after the Named
      Fiduciary receives the Claimant’s written request for a review of the
      denial of the claim.  If the Named Fiduciary 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 Named Fiduciary expects to
      render the benefit determination.  In rendering its decision,
      the Named Fiduciary 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;

            

    

    

    
      	
               
      

            	
              (b)

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

            

    

    

    
      	
               
      

            	
              (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 to the Claimant’s claim for
      benefits.

            

    

    

    
      	
            	
              13.7

            	
              Legal
      Action.  A Claimant's compliance with the foregoing
      provisions of this Article XIII 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 XIV

    

    ADOPTION OF PLAN BY
SUBSIDIARY,

    

    AFFILIATED OR ASSOCIATED
COMPANIES

    

    Any
corporation that is a Subsidiary may, with the approval of the Board of
Directors, adopt this Plan and thereby come within the definition of Bank in
Article I hereof.

    

    ARTICLE XV

    

    MISCELLANEOUS

    

    
      	
            	
              15.1

            	
              Execution of Receipts
      and Releases.  Any payment to any Participant, a
      Participant's legal representative, or Beneficiary in accordance with the
      provisions of this Plan or Plan Agreement executed hereunder shall, to the
      extent thereof, be in full satisfaction of all claims hereunder against
      the Bank.  The Bank may require such Participant, legal
      representative, or Beneficiary, as a condition precedent to such payment,
      to execute a receipt and release therefore in such form as it may
      determine.

            

    

    

    
      	
            	
              15.2

            	
              No Guarantee of
      Interests.  Neither the Committee nor any of its members
      guarantees the payment of any amounts which may be or become due to any
      person or entity under this Plan or any Plan Agreement executed
      hereunder.  The liability of the Bank to make any payment under
      this Plan or any Plan Agreement executed hereunder is limited to the then
      available assets of the Bank.

            

    

    

    
      	
            	
              15.3

            	
              Bank
      Records.  Records of the Bank as to a Participant's
      relationship, termination of relationship and the reason therefor
      authorized leaves of absence, and compensation shall be conclusive on all
      persons and entities, unless determined to be
  incorrect.

            

    

    

    
      	
            	
              15.4

            	
              Evidence.  Evidence
      required of anyone under this Plan and any Plan Agreement executed
      hereunder may be by certificate, affidavit, document, or other information
      which the person or entity acting on it considers pertinent and reliable,
      and signed, made, or presented by the proper party or
    parties.

            

    

    

    
      	
            	
              15.5

            	
              Notice.  Any
      notice which shall be or may be given under this Plan or a Plan Agreement
      executed hereunder shall be in writing and shall be mailed by United
      States mail, postage prepaid.  If notice is to be given to the
      Bank, such notice shall be addressed to the Bank
  at:

            

    

    

    Trustmark
National Bank, Jackson, Mississippi

    Box
291

    Jackson,
Mississippi  39205

    

    marked to
the attention of the Secretary, Administrative Committee, Directors’ Deferred
Fee Plan; or, if notice to a Participant, addressed to the address shown on such
Participant's Plan Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	
              15.6

            	
              Change of
      Address.  Any party may, from time to time, change the
      address to which notices shall be mailed by giving written notice of such
      new address.

            

    

    

    
      	
            	
              15.7

            	
              Effect of
      Provisions.  The provisions of this Plan and of any Plan
      Agreement executed hereunder shall be binding upon the Bank and its
      successors and assigns, and upon a Participant, his or her Beneficiary,
      assigns, heirs, executors, and
administrators.

            

    

    

    
      	
            	
              15.8

            	
              Headings.  The
      titles and headings of Articles and Sections are included for convenience
      of reference only and are not to be considered in the construction of the
      provisions hereof or any Plan Agreement executed
  hereunder.

            

    

    

    
      	
            	
              15.9

            	
              Governing
      Law.  All questions arising with respect to this Plan and
      any Plan Agreement executed hereunder shall be determined by reference to
      the laws of the State of Mississippi, as in effect at the time of their
      adoption and execution,
respectively.

            

    

    

    

    COMPLETE

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ANNEX
I

    DIRECTORS'

    

    DEFERRED
FEE PLAN

    

    OF

    

    TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

    

    

    I
acknowledge that, as a Director of Trustmark National Bank, Jackson,
Mississippi, I have been offered an opportunity to participate in the
Directors' Deferred Fee Plan ("Plan"), as described in the attached document, in
the forthcoming year and that I have irrevocably elected one of the two
alternatives set forth as indicated by the space which I have
checked:

    

    
      	
               
      

            	 _____	
              To
      participate in the Plan.

            

    

    

    
      	
               
      

            	 _____	
              Not
      to participate in the Plan.

            

    

    

    Participant's
Benefit Level, benefits, and payments to the cost of the Death Benefits under
the Plan are agreed to be as follows:

    

    
      	
              1.

            	
              Participant's Benefit
      Level:  $  per
      month.

            

    

    

    This
represents ____% of the Benefit Level made available for computation of
Retirement and Death Benefits.

    

    
      	
              2.

            	
              Death Benefit (Article III of
      Plan):

            

    

    

    $                             
per month for 120 months.

    

    
      	
              3.

            	
              Retirement Benefit (Article IV
      of Plan):

            

    

    

    
      	
               
      

            	
              (a)

            	
              Retirement
      at Normal Retirement Date: $  per
      month for life.  If Participant shall die prior to receiving
      three hundred (300) monthly payments, said amount shall be continued to
      Participant's Beneficiary in accordance with Beneficiary Designation until
      the balance of the three hundred (300) monthly payments has been
      paid.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Retirement
      after Normal Retirement Date:  Amounts to be determined and paid
      as specified by Section 4.1(b), if any, of the
  Plan.

            

    

    

    
      	
               
      

            	
              (c)

            	
              Termination
      Benefit:  Amounts to be determined and paid as specified by
      Section 4.5 and/or Section 9.3 of the
  Plan.

            

    

    

    
      	
              4.

            	
              Disability
      Benefit:  In the event of Disability (as defined in
      Section 1.1 of the Plan), Participant's deferral shall be waived
      pursuant to Section 3.5 of the
Plan.

            

    

    

    
      	
              5.

            	
              Participant Contributions
      (Article III of Plan):  The Participant’s deferral
      from compensation with respect to the Death Benefit under Article III
      of the Plan is

            

    

    

    $                      
per ___________.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
Participant hereby authorizes the Employer to reduce his or her compensation by
the amount specified in the immediately preceding sentence (which he or she
previously agreed to) and which he or she acknowledges and agrees shall remain
in effect as of __________________ and shall continue thereafter until no longer
required to do so pursuant to the applicable provisions of the
Plan.

    

    The
Participant hereby agrees, in the event that the Participant is on an authorized
leave of absence or Disabled (as defined in Section 1.1 of the Plan), to
make payment to the Bank of said amounts as provided in the Plan.

    

    I
understand and further acknowledge that if I terminate the relationship with the
above-named Bank or terminate participation in the Plan by terminating this Plan
Agreement prior to my Retirement (as defined in Section 1.1 of the Plan) or
commencement of my Retirement Benefit payment pursuant to Section 4.1(b) of
the Plan, except as provided in Section 4.5 and Section 9.3 of the Plan, I
will forfeit my right to receive any benefits under the Plan and that all
payments that I have made under the Plan (in accordance with Article III
thereof and Item 5 above) will be forfeited.

    

    I further
acknowledge that any rights I or any Beneficiary have shall be solely those of
an unsecured-creditor of the Bank.  If the Bank shall purchase an
insurance policy or any other asset in connection with the liabilities assumed
by it hereunder, then, except as otherwise expressly provided, such policy or
other assets shall not be deemed to be held under any trust for my benefit or
the benefit of my Beneficiary or to be collateral security for the performance
of the obligations of the Bank, but shall be, and remain, a general, unpledged,
unrestricted asset of the Bank.

    

    I further
acknowledge that neither the Bank nor any of its subsidiaries, affiliated
companies, officers, employees or agents has any responsibility whatsoever for
any changes which I may make in other personal plans or programs as a result of
my decision regarding the Plan and they are fully released to such extent, and I
understand that the Plan and this Plan Agreement may be terminated at any time,
in the sole discretion of the Bank, without any obligation of any nature
whatsoever to the Bank, except a Participant shall have those rights provided
for in Articles III, IV, VIII and IX of said Plan, to the extent such may be
applicable to him or her at the time of such termination.

    

    IN
WITNESS WHEREOF, TRUSTMARK NATIONAL BANK, JACKSON, MISSISSIPPI has executed this
Plan Agreement as of  , 20 .

    

    

    
      	 
      	
              TRUSTMARK
      NATIONAL BANK, JACKSON, MISSISSIPPI

            
	 
      	 
      	 
      
	 
      	
              By

            	 
      
	 
      	 
      	 
      
	 
      	
              Title

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              PARTICIPANT

            
	 
      	 
      	 
      
	 
      	 
      
	 
      	
              (Signature)

            
	 
      	 
      	 
      
	 
      	 
      
	 
      	
              (Type
      or print name)

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      
	 
      	
              (Address
      of Participant)

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ANNEX
II

    DIRECTORS'

    

    DEFERRED
FEE PLAN

    

    OF

    

    TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

    

    BENEFICIARY
DESIGNATION

    

    
      	
               

            	 	 
	
              1.

            	
              Participant:

            	
               

            

    

    

    
      	
              2.

            	
              Scope:  This
      Beneficiary Designation applies to all benefits of the Plan to which the
      above-named Participant has the right to name the
    Beneficiary.

            

    

    

    
      	
              3.

            	
              COUNSEL:  THE
      DESIGNATION OF A BENEFICIARY OR BENEFICIARIES IN ITEMS 4, 5, AND 6 BELOW
      MAY HAVE SIGNIFICANT ESTATE AND GIFT TAX CONSEQUENCES TO THE
      PARTICIPANT.  ACCORDINGLY, THE PARTICIPANT SHOULD SEEK THE
      ADVICE OF PROFESSIONAL COUNSEL WHO IS FAMILIAR WITH THE ESTATE AND GIFT
      TAX ASPECTS OF NONQUALIFIED RETIREMENT AND SALARY CONTINUATION PLANS
      BEFORE COMPLETING THIS FORM.

            

    

    

    
      	
              4.

            	
              Identification
      of Beneficiaries:

            

    

    

    
      	 
      	
              A.

            	
              Primary
      Beneficiary:

            	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
              B.

            	
              Secondary
      Beneficiary:

            	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      

    

    

    
      	
              5.

            	
              Methods
      of Payment (Check One):

            

    

    

    
      	
            	
              ____

            	
              Alternative
      1.  Beneficiary shall mean the Primary Beneficiary if
      such Primary Beneficiary survives Participant, and shall mean the Primary
      Beneficiary's estate if such Primary Beneficiary survives Participant but
      thereafter dies.  The term Beneficiary shall mean the Secondary
      Beneficiary if the Primary Beneficiary fails to survive Participant, and
      shall mean the Secondary Beneficiary's estate when the Secondary
      Beneficiary thereafter dies.  If both the Primary and Secondary
      Beneficiaries fail to survive Participant, the term Beneficiary shall mean
      the Participant's estate.

            

    

    

    
      	
            	
              ____

            	
              Alternative
      2.  Beneficiary shall mean the Primary Beneficiary if
      such Primary Beneficiary survives Participant, and shall mean the
      Secondary Beneficiary if either the Primary Beneficiary fails to survive
      Participant or the Primary Beneficiary survives Participant but thereafter
      dies.  If both the Primary and Secondary Beneficiaries fail to
      survive Participant, the term Beneficiary shall mean the Participant's
      estate.

            

    

     

    
      	
              

                
                  ____

                

              

            	Alternative 3.	
               

            

    

    
      	 
      	 
      
	 
      	 
      
	 
      	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    6.           Survivorship
(Check One):

    

    
      	
            	
              ____

            	
              Alternative
      1.  For purposes of this Beneficiary Designation, no
      person shall be deemed to have survived the Participant if that person
      dies within thirty (30) days of the Participant's
  death.

            

    

    

    
      	
            	
              ____

            	
              Alternative
      2.  If the Participant and the Participant's spouse die
      under circumstances such that there is insufficient evidence to determine
      the order of their deaths or if the Participant's spouse outlives the
      Participant for any time whatsoever, the Participant's spouse shall be
      deemed to have survived the Participant.  For all other purposes
      of this Beneficiary Designation, no person shall be deemed to have
      survived the Participant if that person dies within thirty (30) days of
      the Participant's death.

            

    

    

    
      	
              7.

            	
              Duration:  This
      Beneficiary Designation is effective until the Participant files another
      such Designation with the Bank.  Any previous Beneficiary
      Designations are hereby revoked.

            

    

    

    
      	
              8.

            	
              Execution:

            

    

    

    
      	
              Date:

            	 
      	
                Participant:

            	 
      
	 
      	 
      	 
      	 
      
	
              Witness:

            	 
      	 
      

    

    

    
      	
              9.

            	
              Approval:  This
      Beneficiary Designation is acknowledged and approved this                                                 
       day of ___________________, 20  and
      shall be effective as of the date executed by the Participant
      above.

            

    

    

    

    
      	 
      	
              TRUSTMARK
      NATIONAL BANK, JACKSON, MISSISSIPPI

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By

            	 
      
	 
      	 
      	 
      
	 
      	
              Title

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