Document:

Restated VBA Executives' Non-Qualified Deferred Compensation Plan for C&F

 Exhibit 10.4 
 VIRGINIA BANKERS ASSOCIATION 
 MODEL NON-QUALIFIED DEFERRED COMPENSATION PLAN 
 FOR EXECUTIVES 
 (As Restated
Effective January 1, 2008) 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	 Page

		  	ARTICLE I	  	
		  	Definition of Terms	  	
			
	 1.1
	  	Act	  	1
	 1.2
	  	Administrator	  	1
	 1.3
	  	Adoption Agreement	  	1
	 1.4
	  	Affiliate	  	1
	 1.5
	  	Beneficiary	  	2
	 1.6
	  	Benefit Commencement Date	  	2
	 1.7
	  	Board	  	2
	 1.8
	  	Change in Control	  	2
	 1.9
	  	Code	  	2
	 1.10
	  	Compensation	  	2
	 1.11
	  	Deferral Account or Deferral Accounts	  	2
	 1.11(a)
	  	Employee Deferral Account	  	2
	 1.11(b)
	  	Employer Deferral Account	  	2
	 1.11(c)
	  	Predecessor Plan Account	  	3
	 1.12
	  	Deferral Benefit	  	3
	 1.13
	  	Deferred Compensation Election	  	3
	 1.14
	  	Deferral Contributions	  	3
	 1.15
	  	Effective Date	  	3
	 1.16
	  	Eligible Employee	  	3
	 1.17
	  	Employee	  	3
	 1.18
	  	Employer	  	3
	 1.19
	  	Fund	  	4
	 1.20
	  	Participant	  	4
	 1.21
	  	Plan	  	4
	 1.22
	  	Plan Sponsor	  	4
	 1.23
	  	Plan Year	  	4
	 1.24
	  	Rabbi Trust	  	4
	 1.25
	  	Restated Plan	  	4
	 1.26
	  	Separation from Service	  	4
	 1.27
	  	Termination of Employment	  	4
	 1.28
	  	Trustee	  	4
	 1.29
	  	Valuation Date	  	5
	 1.30
	  	VBA Plan	  	5
			
		  	ARTICLE II	  	
		  	Eligibility and Participation	  	
			
	 2.1
	  	Eligibility	  	5
	 2.2
	  	Notice and Election Regarding Active Participation	  	5
	 2.3
	  	Deferred Compensation Election	  	6
	 2.4
	  	Automatic Cancellation of Deferred Compensation Election upon Receipt of Hardship Withdrawal	  	8

					
	 2.5
	  	Cancellation of Election upon Occurrence of Disability	  	8
	 2.6
	  	Length of Participation	  	9
	 2.7
	  	Termination of Active Participation	  	9
			
		  	ARTICLE III	  	
		  	Determination of Deferral Benefits	  	
			
	 3.1
	  	Deferral Benefit	  	9
	 3.2
	  	Deferral Account	  	9
	 3.3
	  	Contributions by Participants	  	10
	 3.4
	  	Employer Contribution Allocations	  	10
	 3.5
	  	Subtractions from Deferral Account	  	10
	 3.6
	  	Crediting of Deemed Earnings to Deferral Account	  	10
	 3.7
	  	Expenses Charged to Accounts	  	11
	 3.8
	  	Equitable Adjustment in Case of Error Omission	  	11
	 3.9
	  	Statement of Benefits	  	11
			
		  	ARTICLE IV	  	
		  	Vesting	  	
			
	 4.1
	  	Vesting in Employee Deferral Account and Predecessor Plan Account	  	11
	 4.2
	  	Vesting in Employer Non-Elective Deferral Account	  	11
	 4.3
	  	Vesting in Employer Matching Deferral Account	  	12
	 4.4
	  	Forfeiture of Benefits	  	12
	 4.5
	  	No Restoration of Forfeited Benefits	  	13
			
		  	ARTICLE V	  	
		  	Beneficiary Designation and Death Benefit	  	
			
	 5.1
	  	Death after Benefit Commencement	  	13
	 5.2
	  	Death before Benefit Commencement	  	13
	 5.3
	  	Beneficiary Designation	  	13
			
		  	ARTICLE VI	  	
		  	Retirement Dates	  	
			
	 6.1
	  	Normal Retirement Date	  	14
	 6.2
	  	Delayed Retirement Date	  	14
	 6.3
	  	Early Retirement Date	  	14
	 6.4
	  	Disability Retirement Date	  	14
	 6.5
	  	Use of Retirement Date Definitions	  	14
			
		  	ARTICLE VII	  	
		  	Time and Form of Payment	  	
			
	 7.1
	  	Time of Payment of Deferral Benefit	  	15
	 7.2
	  	Form of Payment of Deferral Benefit	  	15
	 7.3
	  	Permissible Changes to Benefit Commencement Date and/or Form of Payment	  	15

  

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	 7.4
	  	Transition Election Changes	  	16
	 7.5
	  	Lump Sum Payments and Periodic Installments	  	16
	 7.6
	  	Permissible Cash-Out by Lump Sum Payment	  	16
	 7.7
	  	Benefit Determination and Payment Procedure	  	17
	 7.8
	  	Payments to Minors and Incompetents	  	18
	 7.9
	  	Distribution of Benefit When Distributee Cannot Be Located	  	18
	 7.10
	  	Claims Procedure	  	18
			
		  	ARTICLE VIII	  	
		  	Withdrawals	  	
			
	 8.1
	  	Hardship Withdrawals	  	22
	 8.2
	  	No Other Withdrawals Permitted	  	23
			
		  	ARTICLE VII	  	
		  	Funding	  	
			
	 9.1
	  	Funding	  	23
	 9.2
	  	Use of Rabbi Trust Permitted	  	23
	 9.3
	  	Fund Divisions	  	23
	 9.4
	  	Participant Investment Directions	  	24
			
		  	ARTICLE IX	  	
		  	Plan Administrator	  	
			
	 10.1
	  	Appointment of Plan Administrator	  	24
	 10.2
	  	Plan Sponsor as Plan Administrator	  	24
	 10.3
	  	Procedures if a Committee	  	24
	 10.4
	  	Action by Majority Vote if a Committee	  	25
	 10.5
	  	Appointment of Successors	  	25
	 10.6
	  	Duties and Responsibilities of Plan Administrator	  	25
	 10.7
	  	Power and Authority	  	25
	 10.8
	  	Availability of Records	  	25
	 10.9
	  	No Action with Respect to Own Benefit	  	25
			
		  	ARTICLE Xi	  	
		  	Amendment and Termination of Plan	  	
			
	 11.1
	  	Amendment or Termination of the Plan	  	26
	 11.2
	  	Effect of Employer Merger, Consolidation or Liquidation	  	26
			
		  	ARTICLE XII	  	
		  	Participation by Additional Employers	  	
			
	 12.1
	  	Adoption by Additional Employers	  	26
	 12.2
	  	Termination Events with Respect to Employers Other Than the Plan Sponsor	  	26

  

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		  	ARTICLE XII	  	
		  	Miscellaneous	  	
			
	 13.1
	  	Nonassignability	  	27
	 13.2
	  	Right to Require Information and Reliance Thereon	  	27
	 13.3
	  	Notices and Elections	  	27
	 13.4
	  	Delegation of Authority	  	27
	 13.5
	  	Service of Process	  	28
	 13.6
	  	Governing Law	  	28
	 13.7
	  	Binding Effect	  	28
	 13.8
	  	Severability	  	28
	 13.9
	  	No Effect on Employment Agreement	  	28
	 13.10
	  	Gender and Number	  	28
	 13.11
	  	Titles and Captions	  	28
	 13.12
	  	Construction	  	28
	 13.13
	  	Nonqualified Deferred Compensation Plan Omnibus Provision	  	28
	 13.14
	  	Distributions in the Event of Income Inclusion	  	29

  

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 Exhibit 10.4 
 VIRGINIA BANKERS ASSOCIATION 
 MODEL NON-QUALIFIED DEFERRED COMPENSATION PLAN 
 FOR EXECUTIVES 
 (As Restated
Effective January 1, 2008) 
 An Employer desiring to adopt the Plan should complete the necessary information in the Adoption
Agreement. The Virginia Bankers Association cannot guarantee that any Plan adopted by an Employer will be deemed to satisfy, or will actually satisfy, the requirements of the Internal Revenue Code or ERISA applicable to non-qualified
“top-hat” deferred compensation plans. Employers considering the use of the Plan must recognize that neither the Virginia Bankers Association nor its employees or representatives can give any legal advice as to the acceptability or
application of the Plan in any particular situation, and that Employers should consult their own attorney for such advice. The establishment, operation, and the related tax consequences of the adoption and maintenance of a non-qualified
“top-hat” deferred compensation plan are the responsibilities of the Employer and its own legal counsel. 
 Any plan restatement
using the form of this Model Non-Qualified Deferred Compensation Plan affects amounts that were deferred or that became vested on or after January 1, 2005. The terms of this document are effective January 1, 2008. The plan has operated in
good faith compliance with the requirements of Code Section 409A between January 1, 2005 and December 31, 2007. Unless otherwise elected by the Employer in Option 3(b)(2)(C), all amounts deferred and vested prior to January 1,
2005 remain subject to the terms of the plan document as effective December 31, 2004. 
 The form of this Model Non-Qualified Deferred
Compensation Plan has been designed to be an unfunded, deferred compensation plan for a select group of management or highly compensated employees as described in Sections 201(2), 301(a)(3) and 401(a)(1) of the Act. The Plan is also intended to
satisfy the requirements of Section 409A of the Code and the guidance issued thereunder and all provisions of the Plan shall be interpreted in a manner to satisfy such requirements. 
 ARTICLE I 
 Definition of Terms 
 The following words and terms as used in this Plan shall have the meaning set forth below, unless a different meaning is clearly required by the context:

 1.1 “Act”: The Employee Retirement Income Security Act of 1974, as the same may be amended from time to time, or the
corresponding sections of any subsequent legislation which replaces it, and, to the extent not inconsistent therewith, the regulations issued thereunder. 
 1.2 “Administrator”: The Plan Administrator named and serving in accordance with ARTICLE X hereof, and any successor or additional Administrator appointed and serving in accordance herewith, all as
selected in Option 2(b) of the Adoption Agreement or as appointed, resigned or removed by separate instrument attached thereto. 
 1.3
“Adoption Agreement”: The adoption agreement, and any amendment thereto, which sets forth certain elections and representations of the Employer and by execution of which the Employer adopts the Plan. 
 1.4 “Affiliate”: The Employer and each of the following business entities or other organizations (whether or not incorporated) which
during the relevant period is treated (but only for the portion of the period so treated and for the purpose and to the extent required to be so treated) together with the Employer as a single employer pursuant to the following sections of the Code
(as modified where applicable by Section 415(h) of the Code): 
 (i) Any corporation which is a member of a controlled
group of corporations (as defined in Section 414(b) of the Code) which includes the Employer, 

 (ii) Any trade or business (whether or not incorporated) which is under common control
(as defined in Section 414(c) of the Code) with the Employer, 
 1.5 “Beneficiary”: The person or persons designated by
a Participant or otherwise entitled pursuant to ARTICLE VII to receive benefits under the Plan attributable to such Participant after the death of such Participant. 
 1.6 “Benefit Commencement Date”: The date or dates designated or provided for in Option 8 of the Adoption Agreement. If earlier than any Benefit Commencement Date designated or elected, a
Participant’s Benefit Commencement Date shall be the date such Participant is determined to be Disabled as that term is defined in subparagraph 6.4(b). 
 1.7 “Board”: The present and any succeeding Board of Directors of the Plan Sponsor, unless such term is used with respect to a particular Employer and its Employees or Participants, in which event it
shall mean the present and any succeeding Board of Directors of that Employer. 
 1.8 “Change in Control”: A change in the
ownership of the Plan Sponsor as defined in Treasury Regulation Section 1.409A-3(i)(5) or its successor or as otherwise defined as a special provision in the Option 3(b)(2)(C) of the Adoption Agreement. 
 1.9 “Code”: 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. 
 1.10
“Compensation”: A Participant’s (i) annual base salary as more specifically designated by the Employer in Option 4(a) of the Adoption Agreement (referred to as “Salary”) and (ii) bonuses and incentive pay as
more specifically designated by the Employer in Option 4(a) of the Adoption Agreement (collectively referred to as “Bonus”) including that portion of such compensation which is electively deferred under this Plan or any other plan of the
Corporation such as a 401(k) plan for such Plan Year or reduced pursuant to a salary reduction election permitted under Section 125 of the Code, but excluding any such compensation deferred from a prior period, expense reimbursement and
allowances and benefits not normally paid in cash to the Participant. 
 1.11 “Deferral Account” or “Deferral
Accounts”: The unfunded, bookkeeping account(s) maintained on the books of the Employer for a Participant which reflects his interest in amounts attributable to Deferral Contributions under the Plan made by or on behalf of the Participant
and the earnings attributable thereto consisting of the following: 
 1.11(a) “Employee Deferral Account”: The account or
accounts of a Participant under the Plan attributable to his Employee Deferral Contributions to the Plan and the earnings attributable thereto. A separate subdivision of each account shall be maintained for each Plan Year. 
 1.11(b) “Employer Deferral Account”: The account or accounts of a Participant under the Plan attributable to Employer Non-Elective
Contributions and Employer Matching Contributions made by the Employer on the Participant’s behalf consisting of his Employer Non-Elective Deferral Account and his Employer Matching Deferral Account as follows: 
 (i) “Employer Non-Elective Deferral Account”: The Participant’s account in the Fund attributable to the Employer
Non-Elective Deferral Contributions made pursuant to Option 5 of the Adoption Agreement and Paragraph 3.4 of the Plan on his 

  

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behalf and the earnings attributable thereto. If applicable, a subdivision of the Employer Non-Elective Deferral Account shall be maintained to reflect the
Employer Contributions and the earnings attributable thereto until such time as the account becomes fully vested. 
 (ii)
“Employer Matching Deferral Account”: The Participant’s account in the Fund attributable to the Employer Matching Deferral Contributions made pursuant to Option 5 of the Adoption Agreement and Paragraph 3.4 of the Plan on his
behalf and the earnings attributable thereto. If applicable, a subdivision of the Employer Matching Deferral Account shall be maintained to reflect the Employer Contributions and the earnings attributable thereto until such time as the account
becomes fully vested. 
 1.11(c) “Predecessor Plan Account”: The account or accounts of a Participant attributable to any
elective or non-elective deferral of remuneration by or on behalf of the Participant under any “top-hat” deferred compensation plan previously maintained by the Employer that is merged into or transferred to the Plan. 
 1.11(d) Each Deferral Account shall be divided into subdivisions reflecting deferral amounts and the earnings attributable thereto for each separate Plan
Year. 
 1.11(e) For purposes of this restatement of the Plan, unless elected by the Plan Sponsor in Option 3(b)(2)(C) of the Adoption
Agreement, Deferral Accounts do not include accounts under the Plan attributable to amounts deferred and vested before January 1, 2005. Such accounts are considered grandfathered and are subject to the rules of Plan as in effective
December 31, 2004. 
 1.12 “Deferral Benefit”: The sum of the vested balances of Participant’s Deferral Accounts
under the Plan as of the most recent Valuation Date (or as otherwise provided herein). 
 1.13 “Deferred Compensation
Election”: The election made by the Participant pursuant to paragraph 2.3 of the Plan. 
 1.14 “Deferral
Contributions”: That portion of a Participant’s Compensation which is deferred under the Plan and/or the non-elective deferrals of remuneration made by the Employer under the Plan on the Participant’s behalf. 
 1.15 “Effective Date”: 
 1.15(a) The “Effective Date of the Plan” with respect to each Employer shall be that date or dates specified in Option 3(a) (or in Option 1(f), in the case of an adopting Employer) of the Adoption Agreement. 
 1.15(b) The “Effective Date of the Restatement of the Plan” with respect to each Employer shall be that date or dates specified in
Option 3(b) of the Adoption Agreement. 
 1.16 “Eligible Employee”: Any Employee included within the definition of Eligible
Employee as specified in Option 4(b) of the Adoption Agreement; provided, however, in order to be an Eligible Employee the Employee must be in the “highly compensated group”. The term “highly compensated group” means a select
group of management or highly compensated employees as described and used in Sections 201(2), 301(a)(3), 401(a)(1) of the Act. 
 1.17
“Employee”: Any individual employed in the service of the Employer as a common law employee of the Employer. 
 1.18
“Employer”: The Plan Sponsor and those Employers all Affiliates, named in Option 1(f) of the Adoption Agreement adopting the Plan, collectively, unless the context indicates otherwise. 
  

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 1.19 “Fund”: 
 1.19(a) If a trust fund is established and maintained for the Plan, that trust fund, which shall consist of the Fund divisions described in paragraph 9.3.
Notwithstanding the foregoing, any reference to the Fund is intended only for purposes of providing a measurement of benefits and account balances under the Plan and is not intended to segregate assets or identify assets that may or must be used to
satisfy benefit liabilities under the Plan. 
 1.19(b) If a trust fund is not established and maintained for the Plan pursuant to a Trust
Agreement, that separate bookkeeping account maintained by the Plan Sponsor to make deemed investments of contributions to the Plan, which shall consist of the Fund divisions described in paragraph 9.3. 
 1.20 “Participant”: An Eligible Employee or other person qualified to participate in the Plan for so long as he is considered a
Participant as provided in ARTICLE II hereof. 
 1.21 “Plan”: This Agreement, including the Appendices hereto, as contained
herein or duly amended all as adopted by the Employer through the Adoption Agreement. 
 1.22 “Plan Sponsor”: The Employer
named in Option 1(a) of the Adoption Agreement. 
 1.23 “Plan Year”: The twelve consecutive month period commencing upon the
first day of January of each year provided, however in the event that this is a Restated Plan which was maintained previously on the basis of a different Plan Year, the prior Plan Year and short Plan Year needed to effect the Plan Year change shall
be as set forth in Option 4(c) of the Adoption Agreement. 
 1.24 “Rabbi Trust”: A trust fund described in paragraph 9.2 and
established or maintained for the Plan. 
 1.25 “Restated Plan”: The Plan, if it is indicated in Option 3(b) of the Adoption
Agreement that the Plan is adopted as an amendment or restatement of a “top-hat” deferred compensation plan previously maintained by the Employer. 
 1.26 “Separation from Service”: The death, retirement or other Termination of Employment with the Employer and Affiliates (whether or not the Affiliate is an adopting Employer) for reasons other than
Disability as defined in subparagraph 6.4(b). For purposes hereof the employment relationship is treated as continuing intact while the individual is on military leave, sick leave or other bona fide leave of absence if the period of leave does not
exceed six (6) months, so long as the individual’s right to reemployment is provided either by statute or by contract. If the period exceeds six (6) months and the individual’s right to reemployment is not provided by contract or
statute, then the employment relationship is deemed to terminate on the first date immediately following such six-month period. 
 1.27
“Termination of Employment”: Facts and circumstances indicating a date beyond which the Employer does not intend for the Employee to provide more than insignificant services for the Employer (regardless of whether provided as an
Employee or as an independent contractor) and Affiliates (whether or not the Affiliate is a participating Employer). For purposes hereof, whether any services are more than insignificant will be determined in accordance with the provisions of
Section 409A of the Code. With respect to a Participant who provides services for the Employer both as an Employee and a member of the Board, to the extent permitted in Section 409A of the Code, services as a member of the Board shall not
be taken into account in determining whether a Participant has experienced a Separation from Service under this Plan. 
 1.28
“Trustee”: The person(s) serving from time to time as trustee of the Fund pursuant to any Rabbi Trust. 
  

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 1.29 “Valuation Date”: Each business day (based on the days the underlying investment
funds are valued and transactions are effectuated in the applicable financial markets) of the Plan Year (which Valuation Date is sometimes referred to as a “daily” Valuation Date), or such other dates as the Administrator may designate
from time to time. 
 1.30 “VBA Plan”: The Virginia Bankers Association Master Defined Contribution Plan and Trust.

 ARTICLE II 
 Eligibility and Participation 
 2.1 Eligibility. Each Eligible Employee shall be eligible to
participate in the Plan effective as provided for in Option 4(d) of the Adoption Agreement. 
 2.2 Notice and Election Regarding Active
Participation.  
 2.2(a) The Administrator shall give notice of eligibility to each Eligible Employee who is anticipated to be
eligible to make Deferral Contributions to the Plan within a reasonable period of time prior to the effective date of eligibility for coverage as described in paragraph 2.1. 
 2.2(b) With respect to the Plan Year in which the Effective Date or the effective date of coverage as described in Option 4(d) of the Adoption Agreement
occurs (“first year of eligibility”), in order to make Employee Deferral Contributions with respect to such Plan Year, an Eligible Employee who is a newly Eligible Employee must file a Deferred Compensation Election with the Administrator
within 30 days of such Effective Date or effective date of coverage. The Deferred Compensation Election shall be effective to defer Compensation for services performed in pay periods after the pay period in which it is filed. For this purpose:

 (i) Compensation based on a performance period (such as an annual bonus) is deemed earned ratably throughout the period for
which earned. 
 (ii) An Eligible Employee’s first year of eligibility is the year in which he first becomes eligible to
participate in any account balance type deferred compensation plan within the meanings of Section 409A of the Code maintained by the Employer or any Affiliate. 
 (iii) If all amounts owed the Eligible Employee from all account balance plans maintained by the Plan Sponsor and its Affiliates subject
to Section 409A of the Code have been paid to the Eligible Employee and if the Eligible Employee has become ineligible to accrue further benefits, then if he thereafter becomes an Eligible Employee, the year in which he again becomes an
Eligible Employee may be treated as his first year of eligibility. 
 (iv) If a Participant is not an Eligible Employee for at
least twenty-four (24) consecutive months, then if he thereafter becomes an Eligible Employee, the year in which he again becomes an Eligible Employee may be treated as his first year of eligibility. 
 2.2(c) With respect to Plan Years beginning on or after the first year of eligibility as described in subparagraph 2.2(b), in order to make Employee
Deferral Contributions of Salary with respect to such a Plan Year, an Eligible Employee must file a Deferred Compensation Election with the Administrator prior the annual filing deadline established by the Administrator, which deadline must be in
the calendar year immediately preceding the year in which the Salary relates. The Deferred Compensation Election for Salary shall be effective as of the first day of the Plan Year in which the services that give rise to the Salary to be deferred are
rendered. 
  

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 2.2(d) With respect to Plan Years beginning on or after the first year of eligibility as described in
subparagraph 2.2(b), in order to make Employee Deferral Contributions of Bonus with respect to the Plan Year , an Eligible Employee must file a Deferred Compensation Election with the Administrator prior to the annual filing deadline established by
the Administrator, which deadline must be in the calendar year or, if different and permitted by the Administrator (as evidenced by the applicable Deferred Contribution Election form) where the Bonus is earned on the basis of the Plan Sponsor’s
fiscal year, the Plan Sponsor’s fiscal year immediately preceding the applicable year in which the period to which the Bonus relates commences. 
 2.2(e) Notwithstanding subparagraph 2.2(d), if elected in Option 4(e) of the Adoption Agreement, the Administrator may permit a Deferred Contribution Election relating to a Bonus which is Performance-Based
Compensation (within the meaning of Code Section 409A(a)(4)(B)(iii)) based on services performed over a period of at least twelve (12) consecutive months to be made prior to the annual filing deadline established by the Administrator,
which deadline must be not later than six (6) months prior to the end of the period for which the Bonus is earned so long as the Eligible Employee has been continuously employed by the Employer from the later of the date the performance
criteria are established or the performance period begins through the date of the election. For this purpose, performance-based compensation must be based on pre-established organizational or individual performance criteria for which the outcome is
substantially uncertain at the time of establishment, that are established in writing no later than ninety (90) days after the beginning of the period of service to which the Bonus and performance relate and that are not substantially certain
to be met at the time the criteria are established as more specifically defined in Treas. Reg. 1.409A-1(e). 
 2.3 Deferred
Compensation Election. 
 2.3(a) Subject to the restrictions and conditions hereinafter provided, an Eligible Employee shall be
entitled to elect to defer, as an Employee Deferral Contribution with respect to a Plan Year, an amount of his Compensation which is specified by and in accordance with his direction in his Deferred Compensation Election for such Plan Year. Any such
election must be filed with the Administrator at the time required under paragraph 2.2. 
 2.3(b) Deferred Compensation Elections shall be
subject to the following rules: 
 (i) A separate Deferred Compensation Election must be filed for each Plan Year; 

(ii) Each Deferred Compensation Election must specify the following: 
 (A) The amount or percentage of the Employee Deferral Contribution for the applicable period; 
 (B) The Compensation from which the Employee Deferral Contribution shall be withheld, if appropriate; 
 (C) If Option 8(a)(2) of the Adoption Agreement is selected, the Benefit Commencement Date, which date (I) may be one of the dates
permitted in Option 8(a)(2) of the Adoption Agreement, and (II) shall be irrevocable; 
 (D) If Option 8(b)(2) of the Adoption
Agreement is selected, the form of payment and if periodic installments are elected, the duration and frequency of the installments which (I) shall be the same for all Employee Deferral Contributions made and Deferral Benefits payable with
respect to a Plan Year, and (II) shall be irrevocable; 
  

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 (E) If permitted in Option 8(a)(2)(A)(vi), whether the Benefit Commencement Date to be
applicable to the Deferral Account related to the Plan Year shall be upon a Change in Control, if a Change in Control occurs prior to the Benefit Commencement Date otherwise elected; 
 (F) The Plan Year to which it relates; and 
 (G) Such other information as the Administrator may require. 
 (iii) A Participant shall have
no unilateral right to change or terminate his Deferred Contribution Election for a year once the election filing deadline has passed. 
 (iv) The Benefit Commencement Date and form of payment election made in the Deferred Compensation Election for any Plan Year shall apply to each subdivision of the Employer Deferral Account for the same Plan Year.

 2.3(c) Each Employee Deferral Contribution is intended to be an elective salary reduction amount which shall be deducted from a
Participant’s Compensation otherwise payable to him for a Plan Year by way of Salary or Bonus. Unless otherwise approved by the Administrator: 
 (i) Employee Deferral Contribution of Salary shall be withheld from annual salary on a pro rata basis throughout the Plan Year (or remainder of the Plan Year, in the case of an Employee who first becomes a Participant
during the Plan Year as of a date other than the first day of the Plan Year, in the case of the Plan Year which contains the Effective Date of the Plan which is a date other than the first day of a Plan Year) to which the Employee Deferral
Contributions of Salary relate; and 
 (ii) Unless otherwise specifically stated in the Deferred Compensation Election filed
by the Participant, Employee Deferral Contributions of Bonus shall be withheld on a first dollar basis from the Bonus before any part is paid to the Participant. However, the Deferred Compensation Election filed by the Participant may, if permitted
by the Administrator, provide that the Employee Deferral Contribution of Bonus be withheld after a threshold level of Bonus has been paid to the Participant in cash. 
 2.3(d) Notwithstanding any provision of the Plan to the contrary, if the Employer has indicated in Option 3(c) of the Adoption Agreement that this Plan is intended to be paired with a qualified deferred compensation
plan indicated in Option 3(c) of the Adoption Agreement, then the Employee Deferral Contribution and the associated Employer Matching Contribution for a Plan Year of a Participant who is also a participant in such qualified plan shall be transferred
to the qualified deferred compensation plan by the Employer no later than March 15 following the Plan Year, subject to the following provisions: 
 (i) The election to participate in a paired arrangement must be made in the Deferred Compensation Election for the Plan Year and shall be irrevocable. 
 (ii) The amount of the Employee Deferral Contribution transferred shall not exceed the lesser of the limit with respect to elective
deferrals under Section 402(g)(1)(A), (B) and (C) imposed on the qualified deferred compensation plan or amount of the elective deferral permitted after applicable of the actual deferral percentage limitation or any other applicable
limitation in such qualified plan. 
 (iii) The amount of the Employer Matching Deferral Contribution transferred shall not
exceed the lesser of the limit with respect to elective deferrals under Section 402(g)(1)(A), (B) and (C) imposed on the qualified deferred compensation plan or the amount of the matching contributions permitted after applicable of
the actual contribution percentage limitation or any other applicable limitation in such qualified plan. 
  

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 2.3(e) Employment taxes required to be withheld on an Employee Deferral shall be withheld from
Compensation that is not being deferred in a manner determined by the Employer. However, if necessary the Administrator may reduce the Employee Deferral Contribution as needed to comply with applicable employment tax withholding requirements.

 2.4 Automatic Cancellation of Deferred Compensation Election upon Receipt of Hardship Withdrawal. 
 2.4(a) A Participant’s Deferred Compensation Election in effect at the time of an unforeseen emergency withdrawal from the Plan shall be cancelled
(rather than postponed or delayed) prospectively so that no further deferrals from his Salary or Bonus shall be made during the remainder of the Plan Year in which the withdrawal occurred. 
 2.4(b) A Participant’s Deferred Compensation Election in effect at the time of a 401(k) hardship withdrawal shall be cancelled (rather than
postponed or delayed) prospectively so that no further deferrals from his Salary or Bonus shall be made during the remainder of the Plan Year in which the withdrawal occurred. Any Deferred Compensation Election for the succeeding Plan Year shall not
be effective until the 401(k) required cancellation period ends. 
 2.4(c) The Participant whose Deferred Compensation Election is cancelled
pursuant to this paragraph must file a new Deferral Election in order to commence or recommence making deferrals under the Plan from his Salary or Bonuses. 
 2.4(d) For purposes hereof, the following terms have the following meanings: 
 (i) A
“401(k) hardship withdrawal” is a hardship withdrawal from the any 401(k) Plan which requires a suspension of employee contributions and elective deferrals as a result of receipt of the hardship withdrawal in order to satisfy the
regulations under Code Section 401(k). 
 (ii) The “401(k) required cancellation period” means a six month
period (or other stated period in the applicable 401(k) plan) during which employee contributions and elective deferrals must be suspended as a result of receipt of a 401(k) hardship withdrawal in order to satisfy the regulations under Code
Section 401(k). 
 (iii) A “401(k) Plan” means the any other deferred compensation plan intended to meet the
requirements of Code Section 401(k) and maintained by the Employer or any other business entity or other organization (whether or not incorporated) which during the relevant period is treated (but only for the portion of the period so treated
and for the purpose and to the extent required to be so treated) as a single employer with the Employer or any affiliate under Code Section 414(b), (c), (m) or (o). 
 2.5 Cancellation of Election upon Occurrence of Disability. 
 2.5(a) If elected in Option 4(f) of the Adoption Agreement, a Participant’s Deferred
Compensation Election in effect at the time of the commencement of a Disability as defined in this paragraph shall be cancelled (rather than postponed or delayed) prospectively so that no further deferrals from his Salary or Bonus shall be made
during the remainder of the Plan Year provided such cancellation occurs by the later of the end of the Participant’s taxable year or the fifteenth (15th) day of the third (3rd) month following the date the Participant incurs the Disability. 
 2.5(b) For purposes hereof, Disability shall mean any medically determinable physical or mental impairment which results in the Participant’s
inability to perform the duties of his position or any substantially similar position and can be expected to result in death or to last for a continuous period of not less than six (6) months. The determination of disability shall be made by
the Administrator, on the advice of one or more physicians appointed and approved by the Employer, and the Administrator shall have the right to require further medical examinations from time to time to determine whether there has been any change in
the Participant’s physical condition. 
  

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 2.6 Length of Participation. Each Eligible Employee shall automatically become a
Participant in the Plan upon his timely filing a Deferred Compensation Election or other election to participate and remain a Participant as long as he is entitled to future benefits under the terms of the Plan. 
 2.7 Termination of Active Participation. Subject to compliance with Section 409A of the Code and paragraphs 2.4 or 2.5, a Participant
who is an active Participant for an applicable contribution election period (that is, the calendar year generally or the period for which Bonuses are determined, as applicable) shall cease to be an active Participant for the applicable year or
period, as the case may be, if and when he ceases to be an Eligible Employee during the applicable year or period, in which case he may not again become an active Participant until a subsequent calendar year or period for which Bonuses are
determined, as applicable. A leave of absence (whether paid or unpaid) which does not result in a Separation from Service shall not be considered cessation of status as an Eligible Employee for this purpose. 
 ARTICLE III 
 Determination of
Deferral Benefits 
 3.1 Deferral Benefit. For purposes hereof, a Participant’s Deferral Benefit shall be the sum
of the vested balances in his Employee Deferral Account and, if applicable, his Employer Deferral Account and his Predecessor Plan Account at the time in question. 
 3.2 Deferral Account. 
 3.2(a) The Employer shall establish and maintain on its books Deferral
Accounts (and appropriate subdivisions thereof) for each Participant to reflect the Participant’s benefits under the Plan. 
 3.2(b) The
balance in the Employee Deferral Account of a Participant shall consist of his Employee Deferral Contributions made to the Plan pursuant to paragraph 3.3, subtractions pursuant to paragraph 3.5, and deemed earnings or losses thereon determined
pursuant to paragraph 3.6. 
 3.2(c) The balance in the Employer Non-Elective Deferral Account of a Participant shall consist of Employer
Non-Elective Contributions, if any, made to the Plan on the Participant’s behalf pursuant to paragraph 3.4, subtractions pursuant to paragraph 3.5, and deemed earnings or losses thereon determined pursuant to paragraph 3.6. 
 3.2(d) The balance in the Employer Matching Deferral Account of a Participant shall consist of Employer Matching Contributions, if any, made to the Plan
on the Participant’s behalf pursuant to paragraph 3.4, subtractions pursuant to paragraph 3.5, and deemed earnings or losses thereon determined pursuant to paragraph 3.6. 
 3.2(e) The balance in the Predecessor Plan Account of a Participant shall consist of balances transferred to the Plan on the Participant’s behalf,
subtractions pursuant to paragraph 3.5, and deemed earnings or losses thereon determined pursuant to paragraph 3.6. 
 3.2(f) Unless
otherwise elected in Option 3(b)(2)(C) of the Adoption Agreement, the Employer shall segregate the Deferral Accounts of its Participants attributable to contributions that are vested as of December 31, 2004 from the Deferral Accounts of its
Participants attributable contributions that are not vested as of December 31, 2004 and contributions made on and after January 1, 2005. The terms of the Plan in effect on and after January 1, 2005 shall only apply to contributions
not vested as of December 31, 2004 and to contributions made on and after January 1, 2005. 
  

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 3.3 Contributions by Participants. 
 3.3(a) An active Participant shall elect to make Employee Deferral Contributions from his Compensation equal to that portion of his Compensation as is
permitted to be contributed and as is specified by him in his Deferred Compensation Election. 
 3.3(b) Each Employee Deferral Contribution
is intended to be an elective salary reduction contribution which shall be withheld from a Participant’s Compensation otherwise payable to him for the applicable contribution election period. 
 3.3(c) Employee Deferral Contributions made by a Participant shall be credited to his Employee Deferral Account as of the date an amount equal to each
Employee Deferral Contribution is credited on the accounting records of the Plan as directed by the Administrator, which date shall be no later than the end of the calendar month following the month the Compensation from which such contribution is
deducted would otherwise have been paid to him and may be as soon as the date as of which the amount is otherwise payable to the Participant. 
 3.4 Employer Contribution Allocations. 
 3.4(a) If elected in Option 5(a)(2) of the Adoption Agreement, the Employer
Non-Elective Deferral Contributions for each Plan Year shall be allocated to the Employer Non-Elective Deferral Accounts of Participants described in Option 5(a)(2) of the Adoption Agreement in the manner and as of the date set forth in Option
5(a)(2) of the Adoption Agreement. 
 3.4(b) If elected in Option 5(a)(3) of the Adoption Agreement, the Employer Matching Deferral
Contributions for each Plan Year shall be allocated to the Employer Matching Deferral Accounts of Participants described in Option 5(a)(3) of the Adoption Agreement in the manner and as of the date set forth in Option 5(a)(3) of the Adoption
Agreement. 
 3.4(c) Notwithstanding anything to the contrary herein, each Deferral Contribution of the Employer is not intended to be an
actual contribution by the Employer, but rather is only a bookkeeping amount credited for benefit determination purposes under the Plan. 
 3.4(d) The Employer may from time to time make a discretionary contribution to the Plan on behalf of one or a group of Participants. At the time the contribution is made the Employer will specify how such amounts are allocated among the
Participants accounts and the timing of such allocation. 
 3.4(e) Employment taxes required to be withheld on an Employer Deferral
Contributions shall be withheld from Compensation that is not being deferred in a manner determined by the Employer. However, if necessary the Administrator may reduce the Employer Deferral Contribution as needed to comply with applicable employment
tax withholding requirements. 
 3.5 Subtractions from Deferral Account. All distributions (including any withheld income or
other taxes) and withdrawals shall be subtracted from a Participant’s Deferral Account and the applicable subdivision thereof when made. All Plan and Fund administrative expenses charged to a Participant’s Deferral Account shall be
subtracted as directed by the Administrator. 
 3.6 Crediting of Deemed Earnings to Deferral Account. 
 3.6(a) As of each Valuation Date, there shall be credited to each Participant’s Deferral Account an amount representing deemed earnings or loss on
the “valuation balance” of each such account in accordance with procedures adopted for the Plan by the Administrator from time to time. 
  

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 3.6(b) Such deemed earnings or loss shall be determined as follows: 
 (i) For periods during which a Fund is maintained and Plan benefits may be paid therefrom because the Plan Sponsor or any other Employer
is not insolvent, such earnings or loss shall be based on the net investment rate of return or loss of the Fund division(s) in which the Participant’s Deferral Benefit under the Plan is considered invested for the period, determined separately
for each Fund division and the portion of the Participant’s Deferred Benefit considered invested in each such Fund division, based on the Participant’s applicable or deemed investment directions pursuant to paragraph 9.4. The net
investment rate of return or loss means earnings or loss (including valuation changes and charges for expenses) for the period of the Fund compared to the aggregate valuation balances sharing in those earnings or loss. 
 (ii) For periods during which the Fund is not maintained or Plan benefits may not be paid therefrom because the Plan Sponsor or any other
Employer is insolvent, such earnings or loss shall be based on an annual rate determined for each Plan Year and equal to the 1 year U.S. Treasury Rate as of the December 31 immediately preceding the Plan Year. 
 3.6(c) Notwithstanding the other provisions of this ARTICLE III, whenever the Plan accounting is based on daily Valuation Dates, the valuation
adjustments to Participants’ accounts shall be effected on such basis and subject to such rules and procedures as the Administrator may determine to reflect daily accounting. 
 3.7 Expenses Charged to Accounts. Notwithstanding any other provision of the Plan to the contrary, expenses incurred in the administration
of the Plan and the Rabbi Trust may be charged to Deferral Accounts on either a pro rata basis or a per capita basis, and/or may be charged to the Deferral Account of the affected Participant(s) and Beneficiary(ies) (which term is intended to
include any alternate payee(s)) on a usage basis (rather than to all Deferral Accounts), as directed by the Administrator. Without limiting the foregoing, some or all of the reasonable expenses attendant to the determinations needed with respect to
and making of withdrawals, the calculation of benefits payable under different Plan distribution options and the distribution of Plan benefits may be charged directly to the Deferral Account of the affected Participant and Beneficiary, and different
rules (i.e., pro rata, per capita, or direct charge to Deferral Accounts) may apply to different groupings of Participants and Beneficiaries. 
 3.8 Equitable Adjustment in Case of Error or Omission. Where an error or omission is discovered in the Deferral Account of a Participant, the Administrator shall be authorized to make such equitable adjustment as the
Administrator deems appropriate. 
 3.9 Statement of Benefits. Within a reasonable time after the end of each calendar quarter
and at the date a Participant’s Deferral Benefit or Death Benefit becomes payable under the Plan, the Administrator shall provide to each Participant (or, if deceased, to his Beneficiary) a statement of the benefit under the Plan. 

ARTICLE IV 
 Vesting 

 4.1 Vesting in Employee Deferral Account and Predecessor Plan Account. A Participant’s rights to the balance in his
Employee Deferral Account and, unless provided otherwise in Option 3(b)(2)(C) of the Adoption Agreement, in his Predecessor Plan Account shall be fully vested and nonforfeitable at all times, and his Separation from Service shall not diminish the
amount payable to the Participant or his Beneficiary. 
 4.2 Vesting in Employer Non-Elective Deferral Account. A Participant
shall have a vested interest in a percentage of his Employer Non-Elective Deferral Account determined in accordance with the vesting provisions selected by the Employer in Option 6(a)(1) of the Adoption Agreement. 
  

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 4.3 Vesting in Employer Matching Deferral Account. A Participant shall have a vested
interest in a percentage of his Employer Matching Deferral Account determined in accordance with the vesting provisions selected by the Employer in Option 6(a)(2) of the Adoption Agreement. 
 4.4 Forfeiture of Benefits. 
 4.4(a) Notwithstanding any contrary provision hereof, the Employer Deferral Account of a Participant shall be forfeited upon the occurrence of any the following events (as defined in subparagraph 4.4(b)): 
 (i) The Participant’s termination of employment with the Employer for “cause”; 
 (ii) The Participant’s entering into “competition”, or his making an “unauthorized disclosure of confidential
information”, after his termination of or retirement from employment of the Employer, in which case all payments to or with respect to the Participant shall cease and all payments made to the Participant or his Beneficiary under the Plan since
the occurrence of such event of forfeiture shall be returned to the Employer (provided however, forfeiture shall not occur upon a Participant’s entering into competition following a Change in Control); or 
 (iii) The discovery after the Participant’s termination of or retirement from employment of the Employer or death, of
“cause” for his termination or of his “unauthorized disclosure of confidential information” prior to his termination, retirement or death before termination or retirement, in which case all payments under the Plan to or with
respect to the Participant shall cease and all payments previously made to the Participant or his Beneficiary under the Plan shall be returned to the Employer. 
 All determinations hereunder shall be made by the Administrator. 
 4.4(b) For purposes of this paragraph: 
 (i) “Cause” means the willful gross misconduct of the Participant which is materially injurious to the Employer or any
Affiliate, including but not limited to the Participant’s knowingly or intentionally providing the Employer with materially false reports concerning the Participant’s business interests or employment-related activities, making materially
false representations relied on by the Employer in furnishing information to shareholders and the Securities Exchange Commission, willfully concealing unauthorized material conflicts of interest in the discharge of duties owed by the Participant to
the Employer, willfully causing a serious violation by the Employer of state or federal laws, theft or misappropriation the assets of the Employer, or conviction of a felony (excluding traffic violations and similar misdemeanors). 
 (ii) “Competition” means engaging by the Participant, without the written consent of the Board or a person authorized thereby,
in a business as a more than one percent (1%) stockholder, an officer, a director, an employee, a partner, an agent, a consultant, or any other individual or representative capacity (unless the Participant’s duties, responsibilities, and
activities, including supervisory activities, for or on behalf of such business, are not related in any way to such “competitive activity”) if it involves: 
 (A) Engaging in, or entering into services or providing advice pertaining to, any line of business that the Employer or any Affiliate
actively conducts or develops in competition with the Employer or any Affiliate in the same geographic area (generally, within a one hundred (100) mile radius of the Employer’s principal place of business) as such line of business is then
conducted, or 
 (B) Employing or soliciting for employment any employees of the Employer or any Affiliate. 
  

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 (iii) “Unauthorized disclosure of confidential information” means the
disclosure by the Participant, without the written consent of the Board or a person authorized thereby, to any person other than as required by law or court order, or other than to an authorized employee of the Employer or an Affiliate, or to a
person to whom disclosure is necessary or appropriate in connection with the performance by the Participant of his duties as an employee or director of the Employer or an Affiliate (including, but not limited to, disclosure to the Employer’s or
an Affiliate’s outside counsel, accountants or bankers of financial data properly requested by such persons and approved by an authorized officer of the Employer), any confidential information of the Employer or any Affiliate with respect to
any of the products, services, customers, suppliers, marketing techniques, methods or future plans of the Employer or any Affiliate; provided, however, that: 
 (A) Confidential information shall not include any information known generally to the public (other than as a result of unauthorized
disclosure by the Participant) or any information of a type not otherwise considered confidential by persons engaged in the same business or a business similar to that conducted by the Employer or any Affiliate; and 
 (B) The Participant shall be allowed to disclose confidential information to his attorney solely for the purpose of ascertaining whether
such information is confidential within the intent of the Plan, but only so long as the Participant both discloses to his attorney the provisions of this paragraph and agrees not to waive the attorney client privilege with respect thereto.

 4.5 No Restoration of Forfeited Benefits. There shall be no restoration of forfeited benefits. 
 ARTICLE V 
 Beneficiary
Designation and Death Benefit 
 5.1 Death after Benefit Commencement. Upon the death of a Participant after his
benefit becomes payable in periodic installments, the amounts of any periodic installments remaining unpaid shall be paid to his Beneficiary over the remaining term certain for such installments. 
 5.2 Death before Benefit Commencement. If a Participant dies before his vested Deferral Benefit has begun to be paid to him, his vested
Deferral Benefit under the Plan shall be paid to his Beneficiary at the time and in the manner described in ARTICLE VII. 
 5.3
Beneficiary Designation. 
 5.3(a) Each Participant shall be entitled to designate a Beneficiary hereunder by filing a
designation in writing with the Administrator on the form provided for such purpose. Any Beneficiary designation made hereunder shall be effective only if signed and dated by the Participant and delivered to the Administrator prior to the time of
the Participant’s death. Any Beneficiary designation hereunder shall remain effective until changed or revoked hereunder. 
 5.3(b) Any
Beneficiary designation may include multiple, contingent or successive Beneficiaries and may specify the proportionate distribution to each Beneficiary. 
 5.3(c) A Beneficiary designation may be changed by the Participant at any time, or from time to time, by filing a new designation in writing with the Administrator. 
  

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 5.3(d) If a Participant dies without having designated a Beneficiary, or if the Beneficiary so designated
has predeceased the Participant or cannot be located by the Administrator, then the Participant’s spouse or, if none, the executor or the administrator of his estate shall be deemed to be his Beneficiary. 
 5.3(e) If a Beneficiary of the Participant shall survive the Participant but shall die before the Participant’s entire benefit under the Plan has
been distributed, then, absent any other provision by the Participant, the unpaid balance thereof shall be distributed to the such other beneficiary named by the deceased Beneficiary to receive his interest or, if none, to the estate of the deceased
Beneficiary. If multiple beneficiaries are designated, absent any other provision by the Participant, those named or the survivor of them shall share equally in any amounts payable hereunder. 
 ARTICLE VI 
 Retirement Dates 
 6.1 Normal Retirement Date. The Normal Retirement Date of a Participant as designated by the Employer in Option 7(a) of the Adoption
Agreement. 
 6.2 Delayed Retirement Date. A Participant who continues in the active employment of the Employer beyond his
Normal Retirement Date shall continue to participate in the Plan, and his Delayed Retirement Date shall be the first day of the calendar month coinciding with or next following the date of his Termination of Employment with the Employer. 

6.3 Early Retirement Date. If elected in Option 7(b) of the Adoption Agreement, a Participant who has satisfied the age and service
requirements selected by the Employer in Option 7(b) of the Adoption Agreement, may retire from the employment of the Employer prior to his Normal Retirement Date and his Early Retirement Date shall be the first day of the calendar month coinciding
with or next following the date of such retirement. 
 6.4 Disability Retirement Date. 
 6.4(a) If elected in Option 7(c) of the Adoption Agreement, a Participant who, while an Eligible Employee, is totally and permanently disabled, as
hereinafter determined, and who has satisfied the age and service requirements selected by the Employer in Option 7(c) of the Adoption Agreement, may retire from the employment of the Employer prior to his Normal Retirement Date and his Disability
Retirement Date shall be the first day of the calendar month coinciding with or next following the date as of which he is determined to be totally and permanently disabled. 
 6.4(b) A Participant shall be totally and permanently disabled upon the Participant’s inability to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months. The determination of total and permanent
disability shall be made by the Administrator, on the advice of one or more physicians appointed and approved by the Employer, and the Administrator shall have the right to require further medical examinations from time to time to determine whether
there has been any change in the Participant’s physical condition. A Participant shall be deemed Disabled if determined to be totally disabled by the Social Security Administration. 
 6.5 Use of Retirement Date Definitions. Retirement Date definitions, other than Normal Retirement Date are set forth in the Plan for the
sole purpose of defining Participants entitled to share in Employer Contributions if elected in Option 5(a)(2)(B) or 5(a)(3)(B) of the Adoption Agreement. 
  

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 ARTICLE VII 
 Time and Form of Payment 
 7.1 Time of Payment of Deferral Benefit. 

7.1(a) A Participant’s Deferral Benefit, if any, shall become payable to the Participant, if then alive, on his Benefit Commencement Date.

 7.1(b) In the event of the Participant’s death before his Benefit Commencement Date, the Participant’s Deferral Benefit shall
become payable to the Beneficiary on the first day of the calendar quarter following the date of the Participant’s death. 
 7.1(c) If
Option 8(a)(1) of the Adoption Agreement is selected, the Benefit Commencement date shall be the first day of the calendar quarter next following the date selected in Option 8(a)(1) of the Adoption Agreement. 
 7.1(d) If Option 8(a)(2) of the Adoption Agreement is selected, the Participant may select the Benefit Commencement Date within the guidelines set forth
in Option 8(a)(2) of the Adoption Agreement. The Benefit Commencement Date for any subdivision of the Employer Deferral Account related to a Plan Year shall be the same as that provided for or elected under the Plan for the subdivision of a
Participant’s Employee Deferral Account related to the same Plan Year. 
 7.2 Form of Payment of Deferral Benefit.

 7.2(a) If Option 8(b)(1) of the Adoption Agreement is selected, a Participant shall be paid the Deferral Benefit, if any, to which he is
entitled, commencing at the applicable time provided in paragraph 7.1, in the form selected by the Employer in Option 8(b)(1) of the Adoption Agreement and, if applicable, over a period selected by the Employer in Option 8(b)(1) of the Adoption
Agreement. 
 7.2(b) If Option 8(b)(2) of the Adoption Agreement is selected, a Participant shall be paid the Deferral Benefit, if any, to
which he is entitled, commencing at the applicable time provided in paragraph 7.1, in the form selected by the Participant within the guidelines set forth in Option 8(b)(2) of the Adoption Agreement. 
 7.2(c) If Option 8(c)(1) of the Adoption Agreement is selected, in the event of the Participant’s death before his Benefit Commencement Date, the
Beneficiary shall be paid the Deferral Benefit, if any, to which he is entitled, commencing at the applicable time provided in paragraph 7.1, in the form selected by the Employer in Option 8(c)(1) of the Adoption Agreement and, if applicable, over a
period selected by the Employer in Option 8(c)(1) of the Adoption Agreement. 
 7.2(d) If Option 8(c)(2) of the Adoption Agreement is
selected, in the event of the Participant’s death before his Benefit Commencement Date, the Beneficiary shall be paid the Deferral Benefit, if any, to which he is entitled, commencing at the applicable time provided in paragraph 7.1, in the
form selected by the Participant within the guidelines set forth in Option 8(c)(2) of the Adoption Agreement. 
 7.3 Permissible
Changes to Benefit Commencement Date and/or Form of Payment. Any election of a Benefit Commencement Date applicable to a subdivision of a Deferral Account or a form of payment applicable to a subdivision of a Deferral Account may be changed
only if the election to change: (a) is not effective until at least twelve (12) months after the date filed, (b) delays the Benefit Commencement Date for at least 5 years, and (c) is filed at least twelve (12) months before
benefits would otherwise commence. For purposes of changes to the time or form of payment, in the event a Participant elects to receive payment of his benefit in periodic installments, the installment payment as a whole will be treated as a single
payment. 
  

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 7.4 Transition Election Changes. If permitted by the Plan Sponsor in Option 11 of the
Adoption Agreement, prior to December 31, 2007, a Participant who made a Deferral Election for the Plan Year 2005, 2006 and/or 2007 may elect a new Benefit Commencement Date and/or a different form of payment applicable to a subdivision of his
Deferral Account related to any or all of such Plan Years in accordance with the following provisions: 
 7.4(a) No such change may accelerate
payments into the 2007 Plan Year that were not otherwise scheduled to be made during such year. 
 7.4(b) No such change may delay payment
into a later Plan Year that were otherwise scheduled to be paid during the 2007 Plan Year. 
 7.4(c) A separate change election may be made
for the subdivision of his Deferral Account related to each of the Plan Years or one change election shall be applicable to the subdivisions of his Deferral Account related to all three Plan Years, as selected by the Plan Sponsor in Option 11(a)(2).

 7.4(d) The Benefit Commencement Date and the form of payment that may be elected shall be one that is permitted under the provisions of
this restatement of the Plan. 
 7.4(e) If a Participant does not file an election to change the Benefit Commencement Date and/or the form of
payment, then the provisions of the original deferral election shall govern the time and form of payment, subject to clause (i) of subparagraph 7.6(c). 
 7.5 Lump Sum Payments and Periodic Installments. 
 7.5(a) If a lump sum payment is permitted
under the Plan, the amount of a lump sum payment to or with respect to a Participant shall be determined by reference to the Deferral Benefit as of the last Valuation Date (or other time of valuation hereunder) immediately preceding the date of
payment. 
 7.5(b) If periodic installment payments are permitted under the Plan, the amount of each periodic installment payment shall be
the lesser of: 
 (i) The quotient obtained by dividing (A) the amount of such Participant’s vested Deferral Account
held in the applicable subdivision, determined as though a lump sum payment were being made as of the last Valuation Date of the calendar quarter preceding the date of payment of such installment, by (B) the number of installment payments then
remaining to be made; or 
 (ii) The amount of such vested Deferral Benefit at such time. 
 7.5(c) In the event that a Participant who has begun to receive periodic installment payments again becomes an Employee of the Employer, his periodic
installments shall continue regardless of his return to employment with the Employer. 
 7.6 Permissible Cash-Out by Lump Sum Payment. Notwithstanding the time and form of benefit payment provisions of paragraphs 7.1 and 7.2, a Participant’s vested Deferral Benefit may be cashed-out in a lump sum payment in
an amount equal to the vested balance in the Participant’s Deferral Accounts if (i) the payment will constitute a payout of the Participant’s entire interest in this Plan and all similar arrangements that would constitute a
nonqualified deferred compensation plan under Treasury Regulation 1.409A-1(c); (ii) the payment is made on or before the later of December 31 of the calendar year in which the Participant’s Separation from Service occurs, or the
fifteenth (15th) day of the third (3rd)
month following the Participant’s Separation from Service; and (iii) the payment of the entire vested Deferral Benefit is not over the limit set forth in Code Section 402(g) applicable to the Plan Year in which the cash-out occurs.

  

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 7.7 Benefit Determination and Payment Procedure. 
 7.7(a) The Administrator shall make all determinations concerning eligibility for benefits under the Plan, the time or terms of payment, and the form or
manner of payment to the Participant or the Participant’s Beneficiary, in the event of the death of the Participant. The Administrator shall promptly notify the Employer and, where payments are to be made from a Rabbi Trust, the trustee thereof
of each such determination that benefit payments are due and provide to the Employer and, where applicable, such trustee all other information necessary to allow the Employer or such trustee, as the case may be, to carry out said determination,
whereupon the Employer or such trustee, as the case may be, shall pay such benefits in accordance with the Administrator’s determination. 
 7.7(b) Benefit payments shall normally be made from the Fund to such payee(s), in such amounts, at such times and in such manner as the Administrator shall from time to time direct; provided, however, that the Employer may advance any
payment due subject to a right of reimbursement from the Fund. The payor may reserve such reasonable amount as it shall deem necessary, based upon information provided by the Administrator upon which the payor may rely, to pay any income or other
taxes attributable to the payment or required to be withheld from the payment. If any payment is returned unclaimed, the payor shall notify the Administrator and shall dispose of the payment as the Administrator shall direct. 
 7.7(c) Notwithstanding the foregoing provisions of this paragraph: 
 (i) Payment to a Participant shall be delayed as required by Section 409A of the Code in the case of a Participant who, with respect
to the Employer, is a “specified employee” of a corporation any stock of which is publicly traded on an established securities market or otherwise as provided in Section 409A(2)(B)(i) of the Code. For this purpose, specified employees
shall be identified on the date and the identification shall be effective as provided in Option 4(g)(1) of the Adoption Agreement. The delayed payment requirement will be applied as provide in Option 4(g)(2). 
 (ii) Payment may be delayed for a reasonable period in the event the payment is not administratively practical due to events beyond the
recipient’s control such as where the recipient is not competent to receive the benefit payment, there is a dispute as to amount due or the proper recipient of such benefit payment, additional time is needed to calculate the payment, or the
payment would jeopardize the solvency of the Employer. 
 (iii) Payment shall be delayed in the following circumstances:

 (A) Where the Administrator reasonably anticipates that a delay in payment is necessary to comply with Federal securities
laws or other applicable laws; or 
 (B) Where the Administrator reasonably determines that a delay is permissible for other
events or conditions under applicable published guidance of the Internal Revenue Service for Section 409A of the Code; 
 provided that
any payment delayed by operation of this clause (iii) will be made at the earliest date at which the Administrator reasonably anticipates that the payment will not be limited or will cease to be so delayed. 
 7.7(d) Notwithstanding any other provision of the Plan, the Administrator shall delay any benefit payment (including any withdrawal pursuant to ARTICLE
VIII) if in the Administrator’s judgment the payment would not be deductible under Section 162(m) of the Code and the delay will permit the deductibility of the payment, in which case the delayed payment shall be made as soon as it is
possible to do so within the deduction limits of Section 162(m) of the Code but in no event later then the end of the Plan Sponsor’s fiscal year in which the Employer or the Administrator reasonably anticipates, or should reasonable
anticipate, that the payment would be deductible or, any earlier time required under Section 409A of the Code. 
  

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 7.7(e) The Employer or Trustee may deduct from payments under the Plan any federal, state or local
withholding or other taxes or charges that it is required to deduct under applicable law. 
 7.8 Payments to Minors and
Incompetents. If a Participant or Beneficiary entitled to receive any benefits hereunder is a minor or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, or is deemed so by the Administrator,
benefits will be paid to such person as the Administrator may designate for the benefit of such Participant or Beneficiary. Such payments shall be considered a payment to such Participant or Beneficiary and shall, to the extent made, be deemed a
complete discharge of any liability for such payments under the Plan. 
 7.9 Distribution of Benefit When Distributee Cannot Be
Located. The Administrator shall make all reasonable attempts to determine the whereabouts of a Participant entitled to benefits under the Plan, including the mailing by certified mail of a notice to the last known address shown on the
Employer’s or the Administrator’s records. If the Administrator is unable to locate such a Participant entitled to benefits hereunder, the Employer will issue a payment in the appropriate amount and in the name of the Participant, and the
Employer will retain such benefit payment on behalf of the Participant, subject to any applicable statute of escheats. 
 7.10 Claims
Procedure. 
 7.10(a) A Participant or Beneficiary (the “claimant”) shall have the right to request any benefit under the
Plan by filing a written claim for any such benefit with the Administrator on a form provided or approved by the Administrator for such purpose. The Administrator (or a claims fiduciary appointed by the Administrator) shall give such claim due
consideration and shall either approve or deny it in whole or in part. The following procedure shall apply: 
 (i) The
Administrator (or a claims fiduciary appointed by the Administrator) may schedule and hold a hearing. 
 (ii) If the claim is
not a Disability Benefit Claim, within ninety (90) days following receipt of such claim by the Administrator, notice of any approval or denial thereof, in whole or in part, shall be delivered to the claimant or his duly authorized
representative or such notice of denial shall be sent by mail (postage prepaid) to the claimant or his duly authorized representative at the address shown on the claim form or such individual’s last known address. The aforesaid ninety
(90) day response period may be extended to one hundred eighty (180) days after receipt of the claimant’s claim if special circumstances exist and if written notice of the extension to one hundred eighty (180) days indicating the
special circumstances involved and the date by which a decision is expected to be made is furnished to the claimant or his duly authorized representative within ninety (90) days after receipt of the claimant’s claim. 
 (iii) If the claim is a Disability Benefit Claim, within forty-five (45) days following receipt of such claim by the Administrator,
notice of any approval or denial thereof, in whole or in part, shall be delivered to the claimant or his duly authorized representative or such notice of denial shall be sent by mail to the claimant or his duly authorized representative at the
address shown on the claim form or such individual’s last known address. The aforesaid forty-five (45) day response period may be extended to seventy-five (75) days after receipt of the claimant’s claim if it is determined that
such an extension is necessary due to matters beyond the control of the Plan and if written notice of the extension to seventy-five (75) days indicating the circumstances involved and the date by which a decision is expected to be made is
furnished to the claimant or his duly authorized representative within forty-five (45) days after receipt of the claimant’s claim. Thereafter, the aforesaid seventy-five (75) day response period may be extended to one hundred five
(105) days after receipt of the claimant’s claim if it is determined that such an extension is necessary due to matters beyond the control of the Plan and if written notice of the extension to one 

  

 - 18 - 

 
hundred five (105) days indicating the circumstances involved and the date by which a decision is expected to be made is furnished to the claimant or
his duly authorized representative within seventy-five (75) days after receipt of the claimant’s claim. In the event of any such extension, the notice of extension shall specifically explain, to the extent applicable, the standards on
which entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim, and the additional information needed to resolve those issues, and the claimant shall be afforded at least forty-five (45) days within which to
provide any specified information which is to be provided by the claimant. 
 (iv) Any notice of denial shall be written in a
manner calculated to be understood by the claimant and shall: 
 (A) Set forth a specific reason or reasons for the denial,

 (B) Make reference to the specific provisions of the Plan document or other relevant documents, records or information on
which the denial is based, 
 (C) Describe any additional material or information necessary for the claimant to perfect the
claim and explain why such material or information is necessary, 
 (D) Explain the Plan’s claim review procedures,
including the time limits applicable to such procedures (which are generally contained in subparagraph 7.10(b)), and provide a statement of the claimant’s right to bring a civil action in state or federal court under Section 502(a) of the
Act following an adverse determination on review of the claim denial, 
 (E) In the case of a Disability Benefit Claim, if an
internal rule, guideline, protocol, or other similar criterion was relied upon in making the adverse determination, either provide the specific rule, guideline, protocol or other similar criterion, or provide a statement that such a rule, guideline,
protocol or other similar criterion was relied upon in making the adverse determination and that a copy of such rule, guideline, protocol or other criterion will be provided free of charge to the claimant or his duly authorized representative upon
request in writing, and 
 (F) In the case of a Disability Benefit Claim, if the adverse benefit determination is based on a
medical necessity or experimental treatment or similar exclusion or limit, either provide an explanation of the scientific or clinical judgment for the determination, applying the terms of the Plan to the claimant’s medical circumstances, or
provide a statement that such explanation will be provided free of charge upon request in writing. 
 7.10(b) A Participant or Beneficiary
whose claim filed pursuant to subparagraph 7.10(a) has been denied, in whole or in part, may, within sixty (60) days (or one hundred eighty (180) days in the case of a Disability Benefit Claim) following receipt of notice of such denial,
make written application to the Administrator for a review of such claim, which application shall be filed with the Administrator. For purposes of such review, the following procedure shall apply: 
 (i) The Administrator (or a claims fiduciary appointed by the Administrator) may schedule and hold a hearing. 
 (ii) The claimant or his duly authorized representative shall be provided the opportunity to submit written comments, documents, records,
and other information relating to the claim for benefits. 
 (iii) The claimant or his duly authorized representative shall be
provided, upon request in writing and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to such claim and may submit to the Administrator written comments, documents, records, and other
information relating to such claim. 
  

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 (iv) The Administrator (or a claims fiduciary appointed by the Administrator) shall make
a full and fair review of any denial of a claim for benefits, which shall include: 
 (A) Taking into account all comments,
documents, records, and other information submitted by the claimant or his duly authorized representative relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination, and

 (B) In the case of a Disability Benefit Claim: 
 (I) Providing for a review that does not afford deference to the initial claim denial and that is conducted by an appropriate named
fiduciary of the Plan who is neither the individual who made the claim denial that is the subject of the review, nor the subordinate of such individual, 
 (II) In making its decision on a review of any claim denial that is based in whole or in part on a medical judgment, including determinations with regard to whether a particular treatment, drug, or other item is
experimental, investigational, or not medically necessary or appropriate, consulting with a health care professional who has appropriate training and experience in the field of medicine involved in the medical judgment, 
 (III) Providing to the claimant or his authorized representative, either upon request in writing and free of charge or automatically, the
identification of medical or vocational experts whose advice was obtained on behalf of the Plan in connection with the claim denial that is the subject of the review, without regard to whether the advice was relied upon in making the benefit
determination, and 
 (IV) Ensuring that the health care professional engaged for purposes of a consultation under clause
(iv)(B)(II) of this subparagraph shall be an individual who is neither an individual who was consulted in connection with the claim denial that is the subject of the review, nor the subordinate of any such individual. 
 (v) If the claim is not a Disability Benefit Claim, the decision on review shall be issued promptly, but no later than sixty
(60) days after receipt by the Administrator of the claimant’s request for review, or one hundred twenty (120) days after such receipt if a hearing is to be held or if other special circumstances exist and if written notice of the
extension to one hundred twenty (120) days indicating the special circumstances involved and the date by which a decision is expected to be made on review is furnished to the claimant or his duly authorized representative within sixty
(60) days after the receipt of the claimant’s request for a review. 
 (vi) If the claim is a Disability Benefit
Claim, the decision on review shall be issued promptly, but no later than forty-five (45) days after receipt by the Administrator of the claimant’s request for review, or ninety (90) days after such receipt if a hearing is to be held
or if other special circumstances exist and if written notice of the extension to ninety (90) days indicating the special circumstances involved and the date by which a decision is expected to be made on review is furnished to the claimant or
his duly authorized representative within forty-five (45) days after the receipt of the claimant’s request for a review. 
 (vii) The decision on review shall be in writing, shall be delivered or mailed by the Administrator to the claimant or his duly authorized representative in the manner prescribed in subparagraph 7.10(a) for notices of approval or denial of
claims, shall be written in a manner calculated to be understood by the claimant and shall in the case of an adverse determination: 
 (A) Include the specific reason or reasons for the adverse determination, 
  

 - 20 - 

 (B) Make reference to the specific provisions of the Plan on which the adverse
determination is based, 
 (C) Include a statement that the claimant is entitled to receive, upon request in writing and free
of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits, 
 (D) Include a statement of the claimant’s right to bring a civil action in state or federal court under Section 502(a) of the Act following the adverse determination on review, 
 (E) In the case of a Disability Benefit Claim, if an internal rule, guideline, protocol, or other similar criterion was relied upon in
making the adverse determination, either provide the specific rule, guideline, protocol or other similar criterion, or provide a statement that such a rule, guideline, protocol or other similar criterion was relied upon in making the adverse
determination and that a copy of such rule, guideline, protocol or other criterion will be provided free of charge to the claimant or his duly authorized representative upon request in writing, 
 (F) In the case of a Disability Benefit Claim, if the adverse benefit determination is based on a medical necessity or experimental
treatment or similar exclusion or limit, either provide an explanation of the scientific or clinical judgment for the determination, applying the terms of the Plan to the claimant’s medical circumstances, or provide a statement that such
explanation will be provided free of charge upon request in writing, and 
 (G) In the case of a Disability Benefit Claim,
provide the following statement (if applicable and appropriate): “You and your plan may have other voluntary alternative dispute resolution options, such as mediation. One way to find out what may be available is to contact your local U.S.
Department of Labor Office and your State insurance regulatory agency.” 
 The Administrator’s decision made in good faith shall be final.

 7.10(c) The period of time within which a benefit determination initially or on review is required to be made shall begin at the time the
claim or request for review is filed in accordance with the procedures of the Plan, without regard to whether all the information necessary to make a benefit determination accompanies the filing. In the event that a period of time is extended as
permitted pursuant to this paragraph due to the failure of a claimant or his duly authorized representative to submit information necessary to decide a claim or review, the period for making the benefit determination shall be tolled from the date on
which the notification of the extension is sent to the claimant or his duly authorized representative until the date on which the claimant or his duly authorized representative responds to the request for additional information. 
 7.10(d) For purposes of the Plan’s claims procedure: 
 (i) A “Disability Benefit Claim” is a claim for a Plan benefit whose availability is conditioned on a determination of disability and where the Plan’s claim’s adjudicator must make a determination
of disability in order to decide the claim. A claim is not a Disability Benefit Claim where the determination of disability is made by a party (other than the Plan’s claim’s adjudicator or other fiduciary) outside the Plan for purposes
other than making a benefit determination under the Plan (such as a determination of disability by the Social Security Administration or under the Employer’s long term disability plan). 
  

 - 21 - 

 (ii) A document, record, or other information shall be considered “relevant” to
a claimant’s claim if such document, record, or other information (A) was relied upon in making the benefit determination, (B) was submitted, considered, or generated in the course of making the benefit determination, without regard
to whether such document, record, or other information was relied upon in making the benefit determination, (C) demonstrates compliance with the administrative processes and safeguards required in making the benefit determination, or
(D) in the case of a Disability Benefit Claim, constitutes a statement of policy or guidance with respect to the Plan concerning the denied treatment option or benefit for the claimant’s diagnosis, without regard to whether such advice or
statement was relied upon in making the benefit determination. 
 7.10(e) The Administrator may establish reasonable procedures for
determining whether a person has been authorized to act on behalf of a claimant. 
 ARTICLE VIII 
 Withdrawals 
 8.1 Hardship
Withdrawals. 
 8.1(a) If permitted in Option 9 of the Adoption Agreement, in the event of any Unforeseeable Emergency and upon
written request of the Participant (or, if subsequent to his death, his Beneficiary), the Administrator in its sole discretion may direct the payment in one lump sum to the Participant or his Beneficiary of all or any portion of the
Participant’s vested Deferral Benefit which the Administrator determines is necessary to alleviate the financial need related to the Unforeseeable Emergency. For purposes hereof: 
 (i) An “Unforeseeable Emergency” means an unforeseeable emergency as defined in Section 409A of the Code and generally
means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Section 152 of
the Code, without regard to Section 152(b)(1), (b)(2), and (d)(1)(B)) thereof); loss of the Participant’s or the Participant’s Beneficiary’s property due to casualty (including the need to rebuild a home following damage to a
home not otherwise covered by insurance, for example, not as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant or Beneficiary.

 (ii) The existence of an Unforeseeable Emergency shall be determined by the Administrator on the basis of the facts and
circumstances of each case. 
 (iii) Distributions because of an Unforeseeable Emergency must be limited to the amount
reasonably necessary to satisfy the need (which may include amounts necessary to pay any Federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the distribution), taking in to account the potential that the
need is or may be relieved through reimbursement or compensation by insurance or otherwise, by liquidation of the Participant’s, to the extent the liquidation of such assets would not cause an Unforeseeable Emergency, or by cessation of
deferrals under the Plan (if the Plan provides for cancellation of a deferral election upon a payment due to an Unforeseeable Emergency). The determination of amounts reasonably necessary to satisfy the need is not required to take into account any
additional compensation that, due to the Unforeseeable Emergency, is available under another nonqualified deferred compensation plan but has not actually been paid, or that is available, due to the Unforeseeable Emergency, under another plan that
would provide for deferred compensation except due to the application of the effective date provisions of Section 409A of the Code. 
  

 - 22 - 

 (iv) Examples of what may be considered an Unforeseeable Emergency include the imminent
foreclosure of or eviction from the Participant’s or Participant’s Beneficiary’s primary residence, the need to pay for medical expenses, including non-refundable deductibles, as well as for the costs of prescription drug medication,
the need to pay for the funeral expenses of the Participant’s spouse, Beneficiary, or the Participant’s dependent (as defined in Section 152 of the Code, without regard to Section 152(b)(1), (b)(2), and (d)(1)(B)) thereof).

 (v) Except as otherwise provided in clause (iii) of this subparagraph, the purchase of a home and the payment of
college tuition are not Unforeseeable Emergencies. 
 8.2 No Other Withdrawals Permitted. No withdrawals or other distributions
shall be permitted except as provided in ARTICLE VII or paragraph 8.1. 
 ARTICLE IX 
 Funding 
 9.1
Funding. 
 9.1(a) The undertaking to pay benefits hereunder shall be an unfunded obligation payable solely from the general
assets of the Employer and subject to the claims of the Employer’s creditors. The Deferral Accounts shall be maintained as book reserve accounts solely for accounting purposes. 
 9.1(b) Except as provided in the Rabbi Trust established as permitted in paragraph 9.2, nothing contained in the Plan and no action taken pursuant to the
provisions of the Plan shall create or be construed to create a trust of any kind or a fiduciary relationship between the Employer and the Participant or his Beneficiary or any other person. To the extent that any person acquires a right to receive
payments from the Employer under the Plan, such rights shall be no greater than the right of any unsecured general creditor of the Employer. 
 9.1(c) Where more than one Employer participates in the Plan, the funding and payment provisions hereof shall apply separately to each such Employer. 
 9.1(d) The Plan Sponsor may in its discretion make the payment of any or all benefits under the Plan in lieu of payment by one or more Employer. Where the Plan Sponsor makes payments on behalf of other Employers, the
Plan Sponsor may require contributions by participating Employers to the Plan Sponsor at such times (whether before, at or after the time of payment), in such amounts and or such basis as it may from time to time determine in order to defray the
cost of benefits and administration of the Plan. 
 9.2 Use of Rabbi Trust Permitted. Notwithstanding any provision herein to
the contrary, the Plan Sponsor may in its sole discretion elect to establish and fund a Rabbi Trust for the purpose of providing benefits under the Plan. 
 9.3 Fund Divisions. 
 9.3(a) It is contemplated that the Fund will be considered to be held in
divisions (sometimes referred to as “divisions of the Fund”, “Fund divisions” or “investments funds” herein) as hereinafter provided, and each Participant’s Deferral Benefit shall be subdivided to reflect its
deemed interest in each Fund division. 
 9.3(b) The Administrator shall establish from time to time the Fund divisions which shall be
maintained in the Fund. 
  

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 9.3(c) If the Plan Sponsor permits investment in a Company Stock Fund, the availability, restrictions,
limitations and special rules relating to such investment shall be established by the Plan Sponsor from time to time and communicated to Participants and to the Administrator. 
 9.4 Participant Investment Directions. The Deferral Benefit of a Participant in the Plan shall be divided or allocated to reflect the
amount of each such Participant’s deemed interest in each Fund division as hereinafter provided for the purpose of determining the earnings or loss to be credited to his account, but any such direction shall not give the Participant any right,
title or interest in any specific asset or assets of the Fund. 
 9.4(a) If and to the extent permitted in Option 10(a) of the Adoption
Agreement, upon becoming a Participant without a contribution investment direction in force, a Participant may direct that future contributions and Deferral Account balances shall be invested in the funds available for directed investment as
selected in Option 10(b) of the Adoption Agreement by filing an “investment direction” with the Administrator in accordance with the procedures established by the Administrator. The Administrator (or its designee) generally will process
investment directions on a current basis after received, but shall not be obligated to process any investment directions on a retroactive basis. 
 9.4(b) If or to the extent a Participant (or if deceased, his Beneficiary) has no investment direction in effect, his Deferral Accounts shall be invested in the default fund designated by the Administrator from time to time. 
 9.4(c) The Administrator may, on a uniform and non-discriminatory basis from time to time, set or change the advance notice requirement for effecting
investment directions, may limit the number of investment direction changes made in a Plan Year, may limit investment directions, if any, which can be made by telephone, electronically or through the internet, may impose blackout periods for
changes, may temporarily or permanently suspend the offering of an investment fund, and generally may change any of the investment direction procedures or options from time to time and at any time. 
 ARTICLE X 
 Plan Administrator

 10.1 Appointment of Plan Administrator. The Plan Sponsor may appoint one or more persons to serve as the Plan
Administrator (the “Administrator”) for the purpose of carrying out the duties specifically imposed on the Administrator by the Plan and the Code. In the event more than one person is appointed, the persons shall form a committee for the
purpose of functioning as the Administrator of the Plan. The person or committeemen serving as Administrator shall serve for indefinite terms at the pleasure of the Plan Sponsor, and may, by thirty (30) days prior written notice to the Plan
Sponsor, terminate such appointment. The Plan Sponsor shall inform the Trustee of any such appointment or termination, and the Trustee may assume that any person appointed continues in office until notified of any change. 
 10.2 Plan Sponsor as Plan Administrator. In the event that no Administrator is appointed or in office pursuant to paragraph 10.1, the Plan
Sponsor shall be the Administrator. 
 10.3 Procedure if a Committee. If the Administrator is a committee, it shall appoint
from its members a Chairman and a Secretary. The Secretary shall keep records as may be necessary of the acts and resolutions of such committee and be prepared to furnish reports thereof to the Plan Sponsor and the Trustee. Except as otherwise
provided, all instruments executed on behalf of such committee may be executed by its Chairman or Secretary, and the Trustee may assume that such committee, its Chairman or Secretary are the persons who were last designated as such to them in
writing by the Plan Sponsor or its Chairman or Secretary. 
  

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 10.4 Action by Majority Vote if a Committee. If the Administrator is a committee, its
action in all matters, questions and decisions shall be determined by a majority vote of its members qualified to act thereon. They may meet informally or take any action without the necessity of meeting as a group. 
 10.5 Appointment of Successors. Upon the death, resignation or removal of a person serving as, or on a committee which is, the
Administrator, the Employer may, but need not, appoint a successor. 
 10.6 Duties and Responsibilities of Plan Administrator.
The Administrator shall have the following duties and responsibilities under the Plan: 
 10.6(a) The Administrator shall be responsible for
the fulfillment of all relevant reporting and disclosure requirements set forth in the Plan, the Code and the Act, the distribution thereof to Participants and their Beneficiaries and the filing thereof with the appropriate governmental officials
and agencies. 
 10.6(b) The Administrator shall maintain and retain necessary records respecting its administration of the Plan and matters
upon which disclosure is required under the Plan, the Code and the Act. 
 10.6(c) The Administrator shall make any elections for the Plan
required to be made by it under the Plan, the Code and the Act. 
 10.6(d) The Administrator is empowered to settle claims against the Plan
and to make such equitable adjustments in a Participant’s or Beneficiary’s rights or entitlements under the Plan as it deems appropriate in the event an error or omission is discovered or claimed in the operation or administration of the
Plan. 
 10.6(e) The Administrator may construe the Plan, correct defects, supply omissions or reconcile inconsistencies to the extent
necessary to effectuate the Plan and such action shall be conclusive. 
 10.7 Power and Authority. 
 10.7(a) The Administrator is hereby vested with all the power and authority necessary in order to carry out its duties and responsibilities in connection
with the administration of the Plan imposed hereunder. For such purpose, the Administrator shall have the power to adopt rules and regulations consistent with the terms of the Plan. 
 10.7(b) The Administrator shall exercise its power and authority in its discretion. It is intended that a court review of the Administrator’s
exercise of its power and authority with respect to matters relating to claims for benefits by, and to eligibility for participation in and benefits of, Participants and Beneficiaries shall be made only on an arbitrary and capricious standard.

 10.8 Availability of Records. The Employer and the Trustee shall, at the request of the Administrator, make available
necessary records or other information they possess which may be required by the Administrator in order to carry out its duties hereunder. 
 10.9 No Action with Respect to Own Benefit. No Administrator who is a Participant shall take any part as the Administrator in any discretionary action in connection with his participation as an individual. Such action shall be
taken by the remaining Administrator, if any, or otherwise by the Plan Sponsor. 
  

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 ARTICLE XI 
 Amendment and Termination of Plan 
 11.1 Amendment or Termination of the Plan.

 11.1(a) The Plan may be terminated at any time by the Board, subject to the restrictions imposed by and consistent with applicable
provisions of Section 409A of the Code. The Plan may be amended in whole or in part from time to time by the Board effective as of any date specified, subject to the restrictions imposed by and consistent with applicable provisions of
Section 409A of the Code. No amendment or termination shall operate to decrease a Participant’s vested Deferral Benefit as of the earlier of the date on which the amendment or termination is approved by the Board or the date on which an
instrument of amendment or termination is signed on behalf of the Plan Sponsor. No amendment shall increase the Trustee’s duties or obligations or decrease its compensation unless contained in an amendment of, or document expressly pertaining
to, the Rabbi Trust which includes the Trustee’s written consent or for which the Trustee’s written consent is separately obtained. Any such termination of or amendment to the Plan may provide for the acceleration of payment of benefits
under the Plan to one or more Participants or Beneficiaries. Any such termination of or amendment to the Plan shall be in writing and shall be adopted pursuant to action by the Board (including pursuant to any standing authorization for any officer,
director or committee to adopt amendments) in accordance with its applicable procedures, including where applicable by majority vote or consent in writing. 
 11.1(b) In addition, and as an alternative, to amendment of the Plan by action of the Board, but subject to the limitations on amendment contained in subparagraph 11.1(a), the Administrator shall be and is hereby
authorized to adopt on behalf of the Board and to execute any technical amendment or amendments to the Plan which in the opinion of counsel for the Plan Sponsor are required by law and are deemed advisable by the Administrator and to so adopt and
execute any other discretionary amendment or amendments to the Plan which are deemed advisable by the Administrator so long as any such amendments do not, in view of the Administrator, materially affect the eligibility, vesting or benefit accrual or
allocation provisions of the Plan. 
 11.1(c) Termination of the Plan shall mean termination of active participation by Participants, but
shall not mean immediate payment of all vested Deferral Benefits unless the Plan Sponsor so directs, subject to the restrictions imposed by and consistent with applicable provisions of Section 409A of the Code. On termination of the Plan, the
Board of the Plan Sponsor may provide for the acceleration of payment of the vested Deferral Benefits of all affected Participants on such basis as it may direct. 
 11.2 Effect of Employer Merger, Consolidation or Liquidation. Notwithstanding the foregoing provisions of this ARTICLE XI, the merger or liquidation of any Employer into any other Employer or the
consolidation of two (2) or more of the Employers shall not cause the Plan to terminate with respect to the merging, liquidating or consolidating Employers, provided that the Plan has been adopted or is continued by and has not terminated with
respect to the surviving or continuing Employer. 
 ARTICLE XII 
 Participation by Additional Employers 
 12.1 Adoption by Additional
Employers. Any Affiliate of the Plan Sponsor may adopt the Plan with the consent of the Board of the Plan Sponsor and approval by its Board. 
 12.2 Termination Events with Respect to Employers Other Than the Plan Sponsor. 
 12.2(a) The
Plan shall terminate with respect to any Employer other than the Plan Sponsor, and such Employer shall automatically cease to be a participating Employer in the Plan, upon the happening of any of the following events, subject to the restrictions
imposed by and consistent with applicable provisions of Section 409A of the Code: 
 (i) The Employer’s ceasing to
be an Affiliate. 
  

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 (ii) Action by the Board or Chief Executive Officer of the Plan Sponsor terminating an
Employer’s participation in the Plan and specifying the date of such termination. Notice of such termination shall be delivered to the Administrator and the former participating Employer. 
 12.2(b) Termination of the Plan with respect to any Employer shall mean termination of active participation of the Participants employed by such
Employer, but shall not mean immediate payment of all vested Deferral Benefits with respect to the Employees of such Employer unless the Plan Sponsor so directs consistent with applicable provisions of Section 409A of the Code. On termination
of the Plan with respect to any Employer, the Administrator may provide for the acceleration of payment of the vested Deferral Benefits of all affected Participants of that former participating Employer on such basis as it may direct. 
 ARTICLE XIII 
 Miscellaneous

 13.1 Nonassignability. The interests of each Participant under the Plan are not subject to claims of the
Participant’s creditors; and neither the Participant, nor his Beneficiary, shall have any right to sell, assign, transfer or otherwise convey the right to receive any payments hereunder or any interest under the Plan, which payments and
interest are expressly declared to be nonassignable and nontransferable. 
 13.2 Right to Require Information and Reliance
Thereon. The Employer and Administrator shall have the right to require any Participant, Beneficiary or other person receiving benefit payments to provide it with such information, in writing, and in such form as it may deem necessary to the
administration of the Plan and may rely thereon in carrying out its duties hereunder. Any payment to or on behalf of a Participant or Beneficiary in accordance with the provisions of the Plan in good faith reliance upon any such written information
provided by a Participant or any other person to whom such payment is made shall be in full satisfaction of all claims by such Participant and his Beneficiary; and any payment to or on behalf of a Beneficiary in accordance with the provision so the
Plan in good faith reliance upon any such written information provided by such Beneficiary or any other person to whom such payment is made shall be in full satisfaction of all claims by such Beneficiary. 
 13.3 Notices and Elections. 
 13.3(a) Except as provided in subparagraph 13.3(b), all notices required to be given in writing and all elections, consents, applications and the like required to be made in writing, under any provision of the Plan, shall be invalid unless
made on such forms as may be provided or approved by the Administrator and, in the case of a notice, election, consent or application by a Participant or Beneficiary, unless executed by the Participant or Beneficiary giving such notice or making
such election, consent or application. 
 13.3(b) Subject to limitations under applicable provisions of the Code or the Act, the
Administrator is authorized in its discretion to accept other means for receipt of effective notices, elections, consents, applications and/or other forms or communications by Participants and/or Beneficiaries, including but not limited to
electronic transmissions through interactive on-line transmissions, e-mail, voice mail, recorded messages on electronic telephone systems, and other permissible methods, on such basis and for such purposes as it determines from time to time.

 13.4 Delegation of Authority. Whenever the Plan Sponsor or any other Employer is permitted or required to perform any act,
such act may be performed by its President or Chief Executive Officer or other person duly authorized by its President or Chief Executive Officer or the Board of the Employer. 
  

 - 27 - 

 13.5 Service of Process. The Administrator shall be the agent for service of process on the
Plan. 
 13.6 Governing Law. The Plan shall be construed, enforced and administered in accordance with the laws of the
Commonwealth of Virginia, and any federal law which preempts the same. 
 13.7 Binding Effect. The Plan shall be binding upon
and inure to the benefit of the Employer, its successors and assigns, and the Participant and his heirs, executors, administrators and legal representatives. 
 13.8 Severability. If any provision of the Plan should for any reason be declared invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall nevertheless remain in full
force and effect. 
 13.9 No Effect on Employment Agreement. The Plan shall not be considered or construed to modify, amend or
supersede any employment or other agreement between the Employer and the Participant heretofore or hereafter entered into unless so specifically provided. 
 13.10 Gender and Number. In the construction of the Plan, the masculine shall include the feminine or neuter and the singular shall include the plural and vice-versa in all cases where such meanings
would be appropriate. 
 13.11 Titles and Captions. Titles and captions and headings herein have been inserted for convenience
of reference only and are to be ignored in any construction of the provisions hereof. 
 13.12 Construction. The Plan and Fund
are intended to be construed as a “plan which is unfunded and is maintained by the employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees,” within the meaning
of Sections 201(2), 301(a)(3), and 401(a)(1) of the Act, as amended, and shall be interpreted and administered accordingly. Likewise, the Plan is also intended to comply with Section 409A of the Code and shall be interpreted and administered
accordingly. 
 13.13 Nonqualified Deferred Compensation Plan Omnibus Provision. 
 13.13(a) It is intended that any compensation, benefits or other remuneration which is provided pursuant to or in connection with the Plan which is
considered to be nonqualified deferred compensation subject to Code Section 409A shall be provided and paid in a manner, and at such time and in such form, as complies with the applicable requirements of Section 409A of the Code to avoid a
plan failure described in Section 409A(a)(1) of the Code, including without limitation, deferring payment until the occurrence of a specified payment event described in Section 409A(a)(2) of the Code and to avoid the unfavorable tax
consequences provided therein for non-compliance, and that, notwithstanding any other provision thereof or document pertaining to any such compensation, benefit or other remuneration subject to the provisions of Section 409A of the Code, each
provision of any plan, program or arrangement (including without limitation the Plan) relating to the provision of such compensation, benefit or other remuneration to or with respect to the Eligible Employee, shall be so construed and interpreted.

 13.13(b) It is specifically intended that all elections, consents and modifications thereto under the Plan will comply with the
requirements of Section 409A of the Code (including any transition or grandfather rules thereunder). The Administrator is authorized to adopt rules or regulations deemed necessary or appropriate in connection therewith to anticipate and/or
comply the requirements of Section 409A of the Code (including any transition or grandfather rules thereunder). 
 13.13(c) It is also
intended that if any compensation, benefits or other remuneration which is provided pursuant to or in connection with the Plan is considered to be nonqualified deferred compensation subject to Section 409A of the Code but for being earned and
vested as of December 31, 2004, then no material modification of the Plan after October 3, 2004 shall apply to such Plan benefits which are earned and vested as of December 31, 2004 unless such modification expressly so provides.

  

 - 28 - 

 13.14 Distributions in the Event of Income Inclusion. If any portion of a
Participant’s Deferral Account under the Plan is required to be included in income by the Participant prior to receipt due to a failure of the Plan to comply with the requirements of Section 409A of the Code, the Administrator may
determine that such Participant shall receive a distribution from the Plan in an amount equal to the lesser of (i) the portion of the Deferral Account required to be included in income as a result of such failure or (ii) the unpaid vested
Deferral Account. 
 August 28, 2007 
  

 - 29 -Agreement for the Restated VBA Executives' Non-Qualified Deferred Compensation

 EXHIBIT 10.4.1 
 VIRGINIA BANKERS ASSOCIATION 
 MODEL NON-QUALIFIED DEFERRED COMPENSATION PLAN 
 FOR EXECUTIVES 
 (As Restated
Effective January 1, 2008) 
 ADOPTION AGREEMENT 
 If the Employer completing this document has any questions about the adoption of the Plan, the provisions of the Plan, its representative should
contact Bette J. Albert, C.L.U. at the Virginia Bankers Association Benefits Corporation, 4490 Cox Road, Glen Allen, VA 23060-3341 - telephone number (804) 643-7469 during business hours. 
 Each Employer named below hereby adopts the Plan through this Adoption Agreement (the “Adoption Agreement”), to be effective as of the date(s)
specified below, and elects the following specifications and provides the following information relating thereto: 
 In completing this
Adoption Agreement, if additional space is required insert additional sheets. 
 Adoption Agreement Contents 
  

					
	 	  	 	  	Page
	 Option 1
	  	Employer(s) Adopting Plan Named in Paragraph 1.18 of the Plan	  	1
	 Option 2
	  	General Plan Information	  	2
	 Option 3
	  	Status of Plan and Effective Date(s)	  	2
	 Option 4
	  	Definitions and Other Optional Provisions	  	3
	 Option 5
	  	Employer Contributions and Allocations	  	8
	 Option 6
	  	Vesting	  	11
	 Option 7
	  	Retirement Dates	  	12
	 Option 8
	  	Time and Form of Benefit Payments	  	13
	 Option 9
	  	Hardship Withdrawals	  	17
	 Option 10
	  	Participant Deemed Investment Direction	  	17
	 Option 11
	  	409A Transition Elections	  	18

  

															
	1.	  	EMPLOYER(S) ADOPTING PLAN NAMED IN PARAGRAPH 1.18 OF THE PLAN.	 	
						
		  	(a)	  	 Name of Plan Sponsor:
 C&F Financial
Corporation
	  	(b)	  	 Plan Sponsor’s telephone Number:
 ( 804 ) 843-2360
	 	
						
		  	(c)	  	 Address of Plan Sponsor :
 Post Office Box
391
 West Point, VA 23181
	  	 (d)
  
  
 (e)
	  	 Plan Sponsor’s EIN:
 54-1680165

 
 Plan Sponsor’s Tax Year End:
 12/31
	 	
				
		  	(f)	  	Information of Other Participating Employers Adopting the Plan:	 	
						
		  		  	x	  	(1)	  	All Affiliate are automatically Participating Employers in the Plan except for the following:	 	
						
		  		  		  		  	  
	 	
						
		  		  		  		  	  
	 	.
						
		  		  	  ̈
	  	(2)	  	Participating Employer are listed individually on the attachment captioned List of Participating Employers, which shall be updated as needed from time to time.	 	

													
	2.	  	GENERAL PLAN INFORMATION.
			
		  	(a)	  	 Name of Plan:
  
 VBA Executive’s Deferred Compensation Plan for C&F Financial Corporation

			
		  	(b)	  	Name, Address and EIN of Plan Administrator(s): [If other than Plan Sponsor, appointment must be by resolution]
		
	3.	  	STATUS OF PLAN AND EFFECTIVE DATE(S).
			
		  	(a)	  	Effective Date of Plan: The Effective Date of the Plan is January 1, 1998.
			
		  	(b)	  	Plan Status. The adoption of the Plan through this Adoption Agreement is:
					
		  		  	 ̈	  	(1)	  	Initial Establishment. The initial adoption and establishment of the Plan.
					
		  		  	x	  	(2)	  	Restated Plan. An amendment and restatement of the Plan (a Restated Plan).
						
		  		  		  		  	(A)	  	Effective Date of this Restatement. The Effective Date of this Restatement of the Plan is January 1, 2008.
						
		  		  		  		  	(B)	  	Prior Plan. The Plan was last maintained under document dated February 28, 2005 and was known as the VBA Executive’s Deferred compensation Plan for C&F Financial
Corporation.
						
		  		  		  		  	(C)	  	Transitional or Special Provisions:
							
		  		  		  		  		  	 ̈	  	Election NOT to Grandfather Pre-January 1, 2005 Vested Balances. If this Option is elected, all Deferral Accounts shall be subject to the rules set forth in the post December 31, 2004
restatement.
							
		  		  		  		  		  		  	If the Option is not elected, the Deferral Accounts attributable to transfers from predecessor plans prior to December 31, 2004 and contributions that are vested as of December 31, 2004 shall be
segregated from the Deferral Accounts attributable to contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005. The terms of the Plan in effect on and after January 1, 2005 shall
only apply to transfers and contributions that are not vested as of December 31, 2004 and to contributions and transfers made on and after January 1, 2005.
						
		  		  		  		  		  	[Enter any other transitional or special provisions relating to any Predecessor Plan Account and the Plan as restated]
						
		  		  		  		  		  	Effective January 1, 2006, any Employer may, in its discretion, elect to contribute for all of any of its employees participating in the Plan or under any contribution feature
(i.e., Employer Matching Contributions, Excess Profit Sharing Employer Non-Elective Contributions and SERP Employer Non-Elective Contributions), less than the amount otherwise called for under the other provisions of the Adoption Agreement and/or to
make Employer Matching Contributions at a different rate than otherwise called for under the other provisions of the Adoption Agreement.

  

 - 2 - 

													
	 ̈	  	(c)	  	If elected, this Plan is intended to be paired with a qualified cash or deferred arrangement as described in subparagraph 2.3(d) of the Plan Document?

											
			
		  		  	 If Elected – Name of qualified cash or deferred arrangement plan
                                        
                                       
 

													
		
	4.	  	DEFINITIONS AND OTHER OPTIONAL PROVISIONS.
				
		  	(a)	  	 Compensation
 Paragraph 1.10
	  	Compensation is used throughout the basic plan document for different purposes. The following specific rules apply.
						
		  		  		  		  	(1)	  	General Definition. The Compensation definition in paragraph 1.10 of the basic plan document is modified as follows:
						
		  		  		  		  	(A)	  	Salary. Base salary and base wages subject to the following modifications or limitations:
						
		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

						
		  		  		  		  		  	[Consider whether to fix the date for determining Salary. Consider whether to revise to exclude reductions for 401(k) and cafeteria plan contributions. Other revisions may be
desired.]
						
		  		  		  		  	(B)	  	Discretionary or Other Bonus. All discretionary or other Bonuses unless otherwise provided:
						
		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

		  		  		  		  		  	  

						
		  		  		  		  		  	[List excluded bonus or incentive programs. The Plan Sponsor may elect a Special Deferral Election Period for Performance-Based Compensation. ]
						
		  		  		  		  	(2)	  	Specific Definitions. When used with respect to each type of contribution under the Plan, Compensation shall include:
							
		  		  		  		  		  	(A)	 	Employee Deferral Contributions. [Check all that apply]
							
		  		  		  		  		  	x	 	 (a)    Salary.

							
		  		  		  		  		  	x	 	 (b)    Bonuses.

							
		  		  		  		  		  	(B)	 	Employer Non-Elective Contributions. [Check all that apply]
							
		  		  		  		  		  	x	 	 (a)    Salary.

							
		  		  		  		  		  	x	 	 (b)    Bonuses.

  

 - 3 - 

													
		  		  		  		  		  	(C)	 	Employer Matching Contributions. [Check all that apply]
							
		  		  		  		  		  	x	 	 (a)    Salary.

							
		  		  		  		  		  	x	 	 (b)    Bonuses.

				
		  	(b)	  	 Eligible Employee
 Paragraph
1.16
	  	Eligible Employee shall mean only the following:
							
		  		  		  		  	x	  	(1)	 	Determination by Board – for Employee Deferral Contributions and any and all Employer Contributions. Any individual who is designated as an Eligible Employee by resolution of
the  ̈ Plan Sponsor’s x Employer’s Board of Directors. A copy of the resolution shall be attached to and incorporated by reference into the Plan. See Attachment.

							
		  		  		  		  	x	  	(2)	 	Determination by CEO – for Employee Deferral Contributions. Any individual who is designated in writing as an Eligible Employee by resolution of the  ̈ Plan Sponsor’s x Employer’s Chief Executive Officer. A copy of the Chief Executive Officer’s designation shall be attached to and incorporated by reference into the
Plan.
							
		  		  		  		  	 ̈	  	(3)	 	Determined by Classification or Grade. Any individual who is classified under the Employer’s personnel practices and policies as employed in the following grades or classifications:

							
		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

							
		  		  		  		  		  		 	[List executive classification to be included in plan coverage].
							
		  		  		  		  	 ̈	  	(4)	 	Determined by Position or Title. Any individual who is employed in the following positions with the Employer:
							
		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

							
		  		  		  		  		  		 	[List the executive positions to be included in plan coverage].
					
		  	(c)	  	 Plan Year
 Paragraph 1.23
	  		  	In the case of a Restated Plan which prior to the Effective Date of this Restatement was maintained on the basis of a Plan Year beginning on a date other than January 1, the Plan
Year shall begin on         ,          and ending on
                    ,          with the short Plan Year beginning on
                    ,          and ending on December 31,
        . Thereafter, the Plan Year shall be the 12 month period beginning each January 1.
					
		  	(d)	  	 Effective Date of Coverage
 Subparagraph
2.1
	  		  	The effective date of coverage for an Eligible Employee shall be [Check one]:
							
		  		  		  		  	 ̈	  	(1)	 	Immediately. The first day of the first payroll period beginning on or after the date the individual became an Eligible Employee.

  

 - 4 - 

													
		  		  		  		  	 ̈	  	(2)	 	Monthly. The first day of the first payroll period beginning on or after the first day of
                     [Complete with 1st 2
nd or other] month next following the date the individual became an Eligible Employee.
							
		  		  		  		  	 ̈	  	(2)	 	Semi-Annually. The first day of the Plan Year or the first day of the seventh month of the Plan Year on or next following the date the individual became an Eligible
Employee.
							
		  		  		  		  	x	  	(3)	 	Annually. The first day of the Plan Year on or next following the date the individual became an Eligible Employee.
					
		  		  		  		  	The Deferred Compensation Election filed for the Plan Year which contains the effective date of coverage as of a date other than the first day of a Plan Year shall be effective to
defer only Compensation for services performed in pay periods after the pay period in which it is filed. Compensation based on a performance period (such as an annual bonus) is deemed earned ratably throughout the period for which
earned.
					
	x	  	(e)	  	 Special Election Period for Performance Based Compensation
 Subparagraph 2.2(e)
	  		  	If this Option is elected, the Plan Sponsor may permit Eligible Employees to make Deferred Compensation Elections with respect to Performance-Based Compensation prior to the annual
filing deadline established by the Administrator which deadline shall be no later than six (6) months prior to the end of the period for which such Bonus is earned, provided such compensation has not become readily ascertainable or its payment
substantially certain as of the date of the Deferred Compensation Election.
					
		  		  		  		  	Otherwise, except in the case of commencement of participation pursuant to any available mid year election, all Deferred Compensation Elections for all Bonuses must be made prior to
the annual filing deadline established by the Administrator which deadline shall be no later than the end of the calendar your or, if different and permitted by the Administrator (as evidenced by the applicable Deferred Contribution Election form)
where the Bonus is earned on the basis of the Plan Sponsor’s fiscal year, the Plan Sponsor’s fiscal year immediately preceding the applicable year in which the period to which the Bonus relates commences.
					
		  		  		  		  	In order to be Performance-Based Compensation (i) the Bonus must be earned over a period of at least twelve (12) months (ii) the Bonus must be based on pre-established organizational
or individual performance criteria for which the outcome is substantially uncertain at the time of establishment, (iii) such criteria are established in writing no later than ninety (90) days after the beginning of the period of service to which the
Bonus and performance relate and (iv) such criteria are not substantially certain to be met at the time established. See more specific definition in Treas. Reg. 1.409A-1(e).
				
	x	  	(f)	  	 Cancellation of Deferred Compensation Election For Disability
 Paragraph 2.5
	  	If this Option is elected, the Plan Sponsor:
							
		  		  		  		  	 ̈	  	(1)	 	Mandatory Cancellation. Will cancel the Deferred Compensation Election of an Eligible Employee who experiences a Disability as defined in paragraph 2.5.

  

 - 5 - 

													
							
		  		  		  		  	x	  	(2)	 	Optional Cancellation. May permit an Eligible Employee who experiences a Disability as defined in paragraph 2.5 to cancel is Deferred Compensation Election.
						
		  		  		  		  		  	If the Option is not selected, no cancellation will be required or permitted upon the occurrence of a Disability.
					
		  	(g)	  	Rules Relating to “Specified Employee” Delay Subparagraph 7.7(c)	  		  	For purposes of applying the 6 month delay required by Section 409A of the Code in the case of a Participant who is a “ specified employee” (i.e., a “key
employee” of any corporation the stock of which is publicly traded on any established securities market or otherwise as provided in Section 409A(2)B)(i) of the Code):
						
		  		  		  		  	(1)	  	Specified Employee Identification Date. Specified employees shall be identified in the following manner: [Check one of the following and complete, if
applicable]
							
		  		  		  		  		  	 ̈	 	(A) Established By Board Action or Other Document of Plan Sponsor. The specified employee identification date and its effective date shall be established by the Plan Sponsor though the
document set forth below which may be an action of its Board or other written document that applies to all deferred compensation plans, programs or agreements of the Plan Sponsor and Affiliates. ________________________________
		  		  		  		  		  		 	  

		  		  		  		  		  		 	[Describe document establishing key employee identification date.]
							
		  		  		  		  		  	x	 	(B) Established Based on Default Dates in Regulations. The specified employee identification date shall be December 31 and effective for distributions due to be made during the 12 month
period beginning on or after the following April 1 as provided in Treas. Reg. 1.409A-1(i).
							
		  		  		  		  		  	 ̈	 	(C) Alternative Identification Date. The specified employee identification date shall be
                     (identification date) and effective for distributions due to be made during the 12 month period beginning on or after the
following                      [enter date not later than the first day of the 4th month following the identification date]
					
		  		  		  		  	The specified employee identification date must be the same date that applies to all deferred compensation plans, programs or agreements of the Plan
Sponsor and Affiliates.
						
		  		  		  		  	(2)	  	Compensation to be Used for Determining Specified Employees. Specified employees are “key employees” as defined in Section 416 of the Code are the 50 highest paid
officers (or if less, the greater of 3 or 10% of employees) with compensation in excess of $145,000 (for 2007) (as adjusted from time to time), 1% owners with compensation in excess of $150,000 or 5% owners. The definition of compensation for this
purpose shall be determined in the following manner: [Check one of the following and complete, if applicable]

  

 - 6 - 

													
							
		  		  		  		  		  	 ̈	 	(A) Established By Board Action or Other Document of Plan Sponsor. The compensation used to identify specified employees shall be established by the Plan Sponsor though the document set
forth below which may be an action of its Board or other written document that applies to all deferred compensation plans, programs or agreements of the Plan Sponsor and Affiliates. [Describe document establishing compensation
definition.]
							
		  		  		  		  		  	x	 	(B) Established Based on VBA Plan. The compensation used to identify specified employees shall be the Total Compensation definition elected under the VBA Plan
							
		  		  		  		  		  	 ̈	 	(C) Alternative Identification Date. The compensation used to determine specified employees shall be determined in the following
manner ___________________________________
		  		  		  		  		  		 	  

		  		  		  		  		  		 	[Describe the document establishing compensation definition or describe compensation based on an acceptable definition under Section 415 of the Code.]
						
		  		  		  		  	(3)	  	Payment Rules Following Required Delay Period. Upon the expiration of the required 6 month delay in payment to a key employee: [Check one of the following:]
							
		  		  		  		  		  	x	 	(A) Catch-Up Missed Payments. Payments to which a key employee would otherwise have been entitled during the 6 month delay will be accumulated and paid on the first day of the
7th month following the date of Separation from Service for reasons other than death.
							
		  		  		  		  		  	 ̈	 	(B) Each Payment Delayed. Each payment to which a key employee would otherwise have been entitled during the 6 month delay will be delayed for 6 months.
					
	x	  	(h)	  	 Rules Relating to Final Check of Year
	  		  	If this Option is elected, Compensation payable after the last day of the calendar year solely for services performed during the final payroll period which contains the last day of
the year will be treated as Compensation for services performed in the taxable year in which the payroll period began.
					
		  		  		  		  	Otherwise, Compensation payable after the last day of the calendar year solely for services performed during the final payroll period which contains the last day of the year will be
treated as Compensation for services performed in the subsequent taxable year in which the payment is made.
					
		  		  		  		  	Any amendment to this provision relating to the final check of the Participant’s taxable year may not be effective for 12 months from the date the amendment is adopted and
executed.

  

 - 7 - 

													
	5.	  	EMPLOYER CONTRIBUTIONS AND ALLOCATIONS.
					
		  	(a)	  	 Employer Contributions
 Paragraph 3.4
	  		  	The following contributions by the Employer are elected:
		  		  		  		  	 ̈	  	(1)	 	None. Employer contributions are not permitted.
							
		  		  		  		  	x	  	(2)	 	Employer Non-Elective Contribution.
							
		  		  		  		  		  	(A)	 	Amount. Each Employer shall make an Employer Non-Elective Contribution for each Plan Year in such amount, if any, which the Employer shall determine.
							
		  		  		  		  		  	x	 	 (i)     Flexible Formula - Such amount, if any, which the Board of Directors of the Employer shall
determine by resolution. - See Attachment.

							
		  		  		  		  		  	 ̈	 	 (ii)    Compensation Formula -         % [Insert percentage] of the
Compensation of all Participants for such Plan Year eligible to receive an allocation of the Employer Non-Elective Contribution for such Plan Year, plus any additional amount that the Board of Directors of the Employer shall determine by resolution.

							
		  		  		  		  		  	 ̈	 	 (iii)  Fixed Amount - $             [Insert amount], plus
any additional amount that the Board of Directors of the Employer shall determine by resolution.

							
		  		  		  		  		  	 ̈	 	 (iv)   Other - __________________________________________

		  		  		  		  		  		 	            

		  		  		  		  		  		 	            

		  		  		  		  		  		 	            

		  		  		  		  		  		 	            

							
		  		  		  		  		  	(B)	 	Participants Entitled to Share of Employer Non-Elective Contribution. The Employer Non-Elective Contribution shall be allocated in proportion to Compensation as defined in Option
4(a)(2)(B) of the Adoption Agreement for the Plan Year to the Employer Non-Elective Deferral Account of the Participants who [Select applicable provisions which shall apply conjunctively unless otherwise noted]:
							
		  		  		  		  		  	 ̈	 	 (i)     Are employed as Eligible Employees for at least
                     [Insert number of months] full calendar months in for such Plan Year.

							
		  		  		  		  		  	 ̈	 	 (ii)    Are Eligible Employees at any time during such Plan Year.

							
		  		  		  		  		  	 ̈	 	 (iii)  Are Eligible Employees on the last day of such Plan Year.

  

 - 8 - 

													
		  		  		  		  	 ̈	  	 (iv)   
	 	If they died while Eligible Employees or retired on their Disability, Early, Normal or Delayed Retirement Date while Eligible Employees during such Plan Year [Check one]:
							
		  		  		  		  		  	 ̈	 	 (a)    But only if they are employed as an Eligible Employee for at least
             [Insert number of months] full calendar months in such Plan Year.

							
		  		  		  		  		  	 ̈	 	 (b)    Regardless of the number of months employed during such Plan Year.

							
		  		  		  		  	x	  	(v)	 	Other - : See Attachment.
		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

						
		  		  		  	x	  	(3)	  	Employer Matching Contributions.
						
		  		  		  		  	(A)	  	Amount. Each Employer shall make an Employer Matching Contribution for each Plan Year in an amount, subject to the limitations provided in the Plan, equal to the following
percentage(s) of each Participant’s Deferral Contribution of Compensation as defined in Option 4(a)(2)(C) of the Adoption Agreement for such Plan Year [Check one]:
							
		  		  		  		  	 ̈	  	(i)	 	Straight Percentage -         % [Insert percentage] of his Compensation as defined in Option 4(a)(2)(C) of the Adoption Agreement
contributed to the Plan (up to a maximum of         % of such Compensation).
							
		  		  		  		  	 ̈	  	(ii)	 	Contribution Weighted Percentages -         % [Insert percentage] of the first         %
[Insert percentage] of his Compensation as defined in Option 4(a)(2)(C) of the Adoption Agreement contributed to the Plan and         % of his Compensation as defined in Option 4(a)(2(C) of the Adoption
Agreement contributed to the Plan (up to a maximum of         % of such Compensation).
							
		  		  		  		  	x	  	(iii)	 	Other - : See Attachment
		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

						
		  		  		  		  	(B)	  	Participants Entitled to Share of Employer Matching Contribution. The Employer Matching Contribution shall be allocated as described in Option 5(a)(3)(A) of the Adoption
Agreement for the Plan Year to the Employer Matching Deferral Account of the Participants who [Select applicable provisions which shall apply conjunctively unless otherwise noted]:

  

 - 9 - 

													
							
		  		  		  		  	 ̈	  	(i)	 	Are employed as an Eligible Employee for at least [Insert number of months] full calendar months in for such Plan Year.
							
		  		  		  		  	 ̈	  	(ii)	 	Are Eligible Employees at any time during such Plan Year.
							
		  		  		  		  	x	  	(iii)	 	Are Eligible Employees on the last day of such Plan Year.
							
		  		  		  		  	x	  	(iv)	 	If they died while an Eligible Employee or retired on his Disability, Early, Normal or Delayed Retirement Date while an Eligible Employee during such Plan Year [Check one]:
							
		  		  		  		  		  	 ̈	 	 (a)    But only if they are employed as an Eligible Employee for at least
         [Insert number of months] full calendar months in such Plan Year.

							
		  		  		  		  		  	x	 	 (b)    Regardless of the number of months employed during such Plan Year.

							
		  		  		  		  	 ̈	  	(v)	 	Other - : _______________________________________
		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	_____________________

  

 - 10 - 

													
	6.	  	VESTING.
					
		  	(a)	  	 Vesting Schedule
 Subparagraph 6.3(a)
	  		  	The following vesting schedule shall apply to the Employer Deferral Account of all Participants [Check one, and complete where applicable]:
							
		  		  		  		  	x	  		 	(1) Employer Non-Elective Deferral Account. The following vesting schedule shall apply to the Employer Non-Elective Deferral Account [Check one, and complete where
applicable]:
							
		  		  		  		  		  	x	 	(A) Apply Rules Described in Qualified Plan - For Employer Deferral Account Profit Sharing subaccount. A Participant is vested in his Employer Non-Elective Deferral Account under
the Plan in the same manner and applying the same rules applicable to employer profit sharing or other non-matching contributions under the following qualified retirement plan maintained by the Employer: 401(k) Plan (as defined in the attachment)

							
		  		  		  		  		  	 ̈	 	(B) Always 100% Vested. A Participant shall always have a non- forfeitable right to one hundred percent (100%) of his Employer Non-Elective Deferral Account
							
		  		  		  		  		  	x	 	(C) Other Applicable Rules. A Participant shall be vested in his Employer Non-Elective Deferral Account in accordance with the following rules: See Attachment for vesting in Employer
Deferral Account SERP subaccount.
		  		  		  		  		  		 	[Describe vesting provisions, including automatic vesting provisions, applicable schedule and rules for counting service.]
							
		  		  		  		  	x	  		 	(2) Employer Matching Deferral Account. The following vesting schedule shall apply to the Employer Matching Deferral Account [Check one, and complete where applicable]:
							
		  		  		  		  		  	x	 	(A) Apply Rules Described in Qualified Plan. A Participant is vested in his Employer Matching Deferral Account under the Plan in the same manner and applying the same rules applicable to
matching contributions made under the following qualified retirement plan maintained by the Employer: 401(k) Plan (as defined in the attachment)
							
		  		  		  		  		  	 ̈	 	(B) Always 100% Vested. A Participant shall always have a non- forfeitable right to one hundred percent (100%) of his Employer Matching Deferral Account
							
		  		  		  		  		  	 ̈	 	(C) Other Applicable Rules. A Participant shall be vested in his Employer Matching Deferral Account in accordance with the following rules:
_________________________________________
		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	  

		  		  		  		  		  		 	[Describe vesting provisions, including automatic vesting provisions, applicable schedule and rules for counting service.]

  

 - 11 - 

													
	7.	  	RETIREMENT DATES.
					
		  	(a)	  	 Normal Retirement Date
 Paragraph 6.3
	  		  	A Participant’s Normal Retirement Date shall be the day the Participant reaches age 65.
					
		  	(b)	  	 Early Retirement Date
 Paragraph 6.3
	  		  	[Select and complete applicable provision(s)]
							
		  		  		  		  	x	  	(1)	 	None.
							
		  		  		  		  	 ̈	  	(2)	 	No age requirement.
							
		  		  		  		  	 ̈	  	(3)	 	Age requirement of              years.
							
		  		  		  		  	 ̈	  	(5)	 	No service requirement.
							
		  		  		  		  	 ̈	  	(6)	 	Service requirement of              years of continuous full-time service with the Employer.
					
		  	(c)	  	 Disability Retirement Date
 Paragraph 6.4
	  		  	[Select and complete applicable provision(s)]
							
		  		  		  		  	x	  	(1)	 	No age requirement.
							
		  		  		  		  	 ̈	  	(2)	 	Age requirement of              years.
							
		  		  		  		  	x	  	(3)	 	No service requirement.
							
		  		  		  		  	 ̈	  	(4)	 	Service requirement of              years of continuous full-time service with the Employer.

  

 - 12 - 

													
	8.	  	TIME AND FORM OF BENEFIT PAYMENTS.
						
		  	(a)	  	 Benefit Commencement Date
 Paragraphs 1.6,
2.3(b) and 7.1
	  		  		 	The term Benefit Commencement Date shall mean the first day of calendar quarter coinciding with or next following the designated time or event; provided however, if the Participant is identified
as a “specified employee” of any corporation the stock of which is publicly traded on any established securities market or otherwise as provided in Section 409A(2)(B) of the Code as of the date on which his Separation from Service (for
reasons other than death) occurs and his payment is due based on such Separation form Service (for reasons other than death), his Benefit Commencement Date shall be delayed as required by Section 409A of the Code and Option 4(g) of the Adoption
Agreement.
							
		  		  		  		  	 ̈	  	(1)	 	Selected By Employer. The Employer selects the following time of payment:
							
		  		  		  		  		  	 ̈	 	(A) Normal Retirement Date. The later of the Participant’s Normal Retirement Date under the Plan or his Separation from Service (for reasons other than death).
							
		  		  		  		  		  	 ̈	 	(B) Separation from Service. The Participant’s Separation from Service with the Employer for whatever reason.
							
		  		  		  		  		  	 ̈	 	(C) Six Months Following Separation from Service. Six months following the Participant’s Separation from Service with the Employer (for reasons other than death).
							
		  		  		  		  	x	  	(2)	 	Selected By Participant. The date selected by the Participant in accordance with the following:
							
		  		  		  		  		  		 	 (A)   Participant’s Options. The Participant may elect that his Benefit Commencement Date be based on [Select
Option (vi) if Change of Control will be a permissible payment event]:

  

 - 13 - 

													
		  		  		  		  		  		 	 (i)     The later of his Normal Retirement Date under the Plan or his Separation from Service (for reasons other than
death).

							
		  		  		  		  		  		 	 (ii)     ̈ His Separation from Service with the Employer (for reasons other than death),
or x Six months following the Participant’s Separation from Service with the Employer (for reasons other than death). [Select one]

							
		  		  		  		  		  		 	 (iii)  A date certain stated clearly in his election form which shall be without regard to when his employment with the Employer
ends.

							
		  		  		  		  		  		 	 (iv)   The later of a date certain or  ̈ his Separation from Service (for reasons other than
death), or x Six months following the Participant’s Separation from Service with the Employer (for reasons other than death). [Select one].

							
		  		  		  		  		  		 	 (v)    The earlier of a date certain or  ̈ his Separation from Service (for reasons
other than death) or x Six months following the Participant’s Separation from Service with the Employer (for reasons other than death). [Select one].

							
		  		  		  		  		  		 	 x    (vi)    Change in Control. Upon a Change in Control as
defined in Paragraph 1.8 of the Plan.

							
		  		  		  		  		  		 	 (B)   Timing of Participant Election. The Participant shall elect the Benefit Commencement Date for the subdivision of
his Employee Deferral Account related to the compensation deferred by a specific Deferred Compensation Election at the time his Deferred Contribution Election is filed for such deferral. The Timing of Payment may be changed only in accordance with
the rule of Section 409A of the Code.

  

 - 14 - 

													
		  	(b)	  	 Form of Payment to Participant
 Paragraph
7.2
	  		  	The form of benefit payments available to the Participant shall be determined in accordance with the following rules:
							
		  		  		  		  	x	  	(1)	 	Selected By Employer. The Employer selects the following form of payment:
							
		  		  		  		  		  	x	 	(A) Lump Sum Payment. Deferral Benefits will be paid to the Participant in the form of a lump sum payment.
							
		  		  		  		  		  	 ̈	 	(B) Periodic Installments. Deferral Benefits will be paid to the Participant in the form of periodic installment payments made:
							
		  		  		  		  		  		 	 (i)     Frequency:

							
		  		  		  		  		  		 	 ̈    (a)    Monthly.
							
		  		  		  		  		  		 	 ̈    (b)    Annually.
							
		  		  		  		  		  		 	 (ii)    Duration. Over the following period:

							
		  		  		  		  		  		 	 ̈    (a)    Five (5) years.
							
		  		  		  		  		  		 	 ̈    (b)    Ten (10) years.
							
		  		  		  		  		  		 	 ̈    (c)    Fifteen (15) years.
							
		  		  		  		  		  		 	 ̈    (d)    Twenty (20) years.
							
		  		  		  		  	 ̈	  	(2)	 	Selected By Participant. The form of payment to be paid to the Participant shall be selected by the Participant in accordance with the following:
							
		  		  		  		  		  		 	 (A)   Participant’s Options. The Participant may elect from among the following forms of payment [Select options to
be available to Participants]:

							
		  		  		  		  		  		 	  ̈    (i)    Lump Sum Payment. Deferral Benefits may be paid
to the Participant only in the form of a lump sum payment.

							
		  		  		  		  		  		 	  ̈    (ii)    Periodic Installments. Deferral Benefits may be
paid to the Participant in the form of periodic installment payments made:

							
		  		  		  		  		  		 	 (a)    Frequency:

							
		  		  		  		  		  		 	 ̈    (I)    Monthly.
							
		  		  		  		  		  		 	 ̈    (II)    Annually.
							
		  		  		  		  		  		 	 (b)    Duration. Over the following period:

							
		  		  		  		  		  		 	 ̈    (I)    Five (5) years.

  

 - 15 - 

													
		  		  		  		  		  		 	 ̈    (II)     Ten (10) years.
							
		  		  		  		  		  		 	 ̈    (III)    Fifteen (15) years.
							
		  		  		  		  		  		 	 ̈    (IV)    Twenty (20) years.
							
		  		  		  		  		  	(B)	 	Timing of Participant Election. The Participant shall elect the form of payment subdivision of his Employee Deferral Account related to the compensation deferred by a specific Deferred
Compensation Election at the time his Deferred Contribution Election is filed for such deferral. The Timing of Payment may be changed only in accordance with the rule of Section 409A of the Code.
					
		  	(c)	  	 Form of Payment to Beneficiary
 Paragraph
7.2
	  		  	The form of benefit payments available to the Beneficiary shall be determined in accordance with the following rules:
							
		  		  		  		  	x	  	(1)	 	Selected By Employer. The Employer selects the following form of payment:
							
		  		  		  		  		  	x	 	(A) Lump Sum Payment. Deferral Benefits will be paid to the Beneficiary in the form of a lump sum payment.
							
		  		  		  		  		  	 ̈	 	(B) Periodic Installments. Deferral Benefits will be paid to the Beneficiary in the form of periodic installment payments made:
							
		  		  		  		  		  		 	 (i)     Frequency:

							
		  		  		  		  		  		 	 ̈    (a)    Monthly.
							
		  		  		  		  		  		 	 ̈    (b)    Annually.
							
		  		  		  		  		  		 	 (ii)    Duration. Over the following period:

							
		  		  		  		  		  		 	 ̈    (a)    Five (5) years.
							
		  		  		  		  		  		 	 ̈    (b)    Ten (10) years.
							
		  		  		  		  		  		 	 ̈    (c)    Fifteen (15) years.
							
		  		  		  		  		  		 	 ̈    (d)    Twenty (20) years.
							
		  		  		  		  	 ̈	  	(2)	 	Selected By Participant. The form of payment to the Beneficiary shall be selected by the Participant in accordance with the following:
							
		  		  		  		  		  		 	 (A)   Participant’s Options. The Participant may elect the form of payment to the Beneficiary from among the
following forms of payment [Select options to be available to Participants]:

							
		  		  		  		  		  		 	  ̈    (i)    Lump Sum Payment. Deferral Benefits may be paid
to the Beneficiary only in the form of a lump sum payment.

  

 - 16 - 

													
							
		  		  		  		  		  	 ̈	 	 (ii)    Periodic Installments. Deferral Benefits may be paid to the Beneficiary in the form of periodic installment
payments made:

							
		  		  		  		  		  		 	 (a)    Frequency:

							
		  		  		  		  		  		 	 ̈    (I)    Monthly.
							
		  		  		  		  		  		 	 ̈    (II)    Annually.
							
		  		  		  		  		  		 	 (b)    Duration. Over the following period:

							
		  		  		  		  		  		 	 ̈    (I)    Five (5) years.
							
		  		  		  		  		  		 	 ̈    (II)    Ten (10) years.
							
		  		  		  		  		  		 	 ̈    (III)    Fifteen (15) years.
							
		  		  		  		  		  		 	 ̈    (IV)    Twenty (20) years.
		
	9.	  	 HARDSHIP WITHDRAWALS.
 ARTICLE VIII

					
		  	(a)	  	Availability Generally	  		  	A Participant [Check one]:
							
		  		  		  		  	 ̈	  	(1)	 	Not Permitted. May not make a Hardship Withdrawals.
							
		  		  		  		  	x	  	(2)	 	Permitted. May make a Hardship Withdrawal as defined in for an Unforseeable Emergency as defined in Paragraph 8.1 of the Plan from the following accounts [Check one or
more]:
							
		  		  		  		  		  		 	x    (A)    Employee Deferral Account.
							
		  		  		  		  		  		 	x    (B)    Employer Matching Deferral Account.
							
		  		  		  		  		  		 	  ̈    (C)    Employer Non-Elective Deferral
Account.

							
		  		  		  		  		  		 	 ̈    (D)    Predecessor Plan Account.
		
	10.	  	 PARTICIPANT DEEMED INVESTMENT DIRECTION.
 Paragraph 9.4

					
		  	(a)	  	Availability Generally	  		  	A Participant [Check one]:
							
		  		  		  		  	 ̈	  	(1)	 	Not Permitted. May not make deemed investment directions.
							
		  		  		  		  	x	  	(2)	 	Permitted. May make deemed investment directions for the following accounts (“directable accounts”) [Check one or more]:

  

 - 17 - 

													
							
		  		  		  		  		  		 	x    (A)    Employee Deferral Account.
							
		  		  		  		  		  		 	x    (B)    Employer Matching Deferral Account.
							
		  		  		  		  		  		 	 x    (C)    Employer Non-Elective Deferral
Account.

							
		  		  		  		  		  		 	 ̈    (D)    Predecessor Plan Account.
					
		  	(b)	  	Permissible Investments	  		  	Unless the Plan Sponsor elects a different Option below the funds available for directed investment under the VBA Plan as adopted by the Plan Sponsor:
							
		  		  		  		  	 ̈	  	(1)	 	VBA Plan Plus Company Stock. In addition to the funds available under the VBA plan, a Company Stock Fund will also be available for directed investment.
							
		  		  		  		  	x	  	(2)	 	VBA Plan Without Company Stock. Regardless of whether a Company Stock Fund is available under the VBA plan, no Company Stock Fund will be available for directed
investment.
							
		  		  		  		  	 ̈	  	(3)	 	Company Stock Only. In lieu of the funds available under the VBA Plan, a Company Stock Fund will be the only fund available for directed investment.
		
	11.	  	 409A TRANSITION ELECTIONS.
 Paragraph
7.4

					
		  	(a)	  	Availability Generally	  		  	A Participant [Check one]:
							
		  		  		  		  	 ̈	  	(1)	 	Not Permitted. Shall not be permitted to change Deferred Compensation Elections made for the Plan Years 2005, 2006 and 2007 except as may otherwise be permitted in paragraph
7.3.
							
		  		  		  		  	x	  	(2)	 	Permitted. Shall be permitted to change Deferred Compensation Elections made for Plan Years 2005, 2006 and 2007 prior to December 31, 2007 as follows [Check one]:
							
		  		  		  		  		  		 	  ̈    (A)     A separate change election may be made for each Plan
Year.

							
		  		  		  		  		  		 	 x    (B)    Only one change election may be made which shall to
apply to all three Plan Years.

  

 - 18 - 

 IN WITNESS WHEREOF, each Employer, by its duly authorized representatives, has executed this instrument
this 18th day of December, 2007. 
  

									
	 	 	 	 	C&F Financial Corporation
		 		 	[Enter Name of Employer]
				
		 		 	By	 	 /s/ Robert L. Bryant

		 		 		 	Its	 	EVP and Chief Operating Officer
				
	[SEAL]	 		 		 	
				
	ATTEST:	 		 		 	
	  
	 		 		 	
	Its	 	  
	 		 		 	
			
		 		 	Citizens and Farmers Bank
		 		 	[Enter Name of Employer]
				
		 		 	By	 	 /s/ Robert L. Bryant

		 		 		 	Its	 	EVP and Chief Operating Officer
				
	[SEAL]	 		 		 	
				
	ATTEST:	 		 		 	
	  
	 		 		 	
	Its	 	  
	 		 		 	
			
		 		 	C&F Mortgage Corporation
		 		 	[Enter Name of Employer]
				
		 		 	By	 	 /s/ Mark A. Fox

		 		 		 	Its	 	EVP and Chief Operating Officer
				
	[SEAL]	 		 		 	
				
	ATTEST:	 		 		 	
	  
	 		 		 	
	Its	 	  
	 		 		 	
			
		 		 	C&F Finance Company
		 		 	[Enter Name of Employer]
				
		 		 	By	 	 /s/ Thomas F. Cherry

		 		 		 	Its	 	Chief Financial Officer
				
	[SEAL]	 		 		 	
				
	ATTEST:	 		 		 	
	  
	 		 		 	
	Its	 	  
	 		 		 	

  

 - 19 -

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