SEC Contract Filing

Filing Date: 2019-07-31

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d782566dex102.htm
<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFERRED COMPENSATION PLAN </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOR SENIOR MANAGEMENT EMPLOYEES OF RED RIVER BANCSHARES, INC. AND SUBSIDIARIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Amended and Restated effective July&nbsp;30, 2019) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, Red River Bancshares, Inc. previously adopted the Deferred Compensation Plan for Directors and Senior Management Employees of Red
River Bancshares, Inc. and Subsidiaries (Amended and Restated effective January&nbsp;1, 2007) (the&nbsp;&#147;Combined Plan&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, in order to facilitate the termination of participation by <FONT STYLE="white-space:nowrap">non-employee</FONT> directors in the
Combined Plan, it is desirable to establish two separate deferred compensation plans, one for <FONT STYLE="white-space:nowrap">non-employee</FONT> directors, and a second plan for senior management employees; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the plan for senior management employees is intended to continue with substantially the same terms and provisions as the Combined
Plan, including the &#147;grandfathering&#148; of subaccounts established for contributions made on or before January&nbsp;1, 2005, so that such subaccounts are not subject to the requirements of Section&nbsp;409A of the Internal Revenue Code of
1986, as amended (the &#147;Code&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, Red River Bancshares, Inc. hereby amends and restates the Combined Plan as the
Senior Management Compensation Plan for Directors of Red River Bancshares, Inc. and Subsidiaries (Amended and Restated effective January&nbsp;1, 2019). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1. ESTABLISHMENT AND PURPOSE. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Establishment</U>. Red River Bancshares, Inc. hereby amends and restates, effective January&nbsp;1, 2019, a
deferred compensation plan for senior management employees, as set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Purpose</U>. The purpose
of this deferred compensation plan is to provide a means to allow senior management employees to defer a portion of their salary and/or bonuses. This Plan 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. The Plan is to be interpreted to the fullest extent to comply with Code section 409A as added by the American Jobs Creation Act of 2004 and any regulations or guidance
thereunder, and including any amendments thereto. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2. DEFINITIONS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>. Whenever used in the Plan, the following terms shall have the meaning set forth below unless
otherwise provided: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>&#147;Account&#148;</U> means the recordkeeping account which is
maintained in the name of the Participant to account for any contributions and Credited Earnings which may be credited to his Account from time to time. The Account shall consist of the <FONT STYLE="white-space:nowrap">pre-2005</FONT> account and
the post-2004 account. Contributions attributable to services performed in 2004 and before, and Credited Earnings thereon, shall be credited to the <FONT STYLE="white-space:nowrap">pre-2005</FONT> Account. Contributions attributable to services
performed in 2005 and thereafter, and Credited Earnings thereon, shall be credited to the post-2004 Account. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>&#147;Beneficiary&#148;</U> means the person
or persons designated by the Participant under the Plan to receive the Participant&#146;s benefit under the Plan in the event of his death. If no Beneficiary is named, the Participant&#146;s spouse shall be the Beneficiary. If the Participant is not
survived by a spouse and no Beneficiary is named, the Participant&#146;s estate shall be the Beneficiary. </P>
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