SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN PARTICIPATION AGREEMENTSupplemental Executive Retirement Plan • March 21st, 2019 • First National Corp /Va/ • State commercial banks
I, DENNIS DYSART, and First Bank hereby agree, for good and valuable consideration, the value of which is hereby acknowledged, that I shall participate in the Supplemental Executive Retirement Plan (“Plan”) established as of March 1, 2019, by First Bank, as such Plan may now exist or hereafter be modified, and do further agree to the terms and conditions thereof. I understand that I must execute this Supplemental Executive Retirement Plan Participation Agreement (“Participation Agreement”) as well as notify the Administrator of such execution in order to participate in the Plan. I acknowledge that I have been given a copy of the Plan document along with this Participation Agreement. The provisions of the Plan are incorporated herein by reference. In the event of an inconsistency between the terms of this Participation Agreement and the Plan, the terms of the Plan shall control, except to the extent that the Plan provides that the Participation Agreement shall control.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN PARTICIPATION AGREEMENTSupplemental Executive Retirement Plan • March 21st, 2019 • First National Corp /Va/ • State commercial banks
I, SCOTT HARVARD, and First Bank hereby agree, for good and valuable consideration, the value of which is hereby acknowledged, that I shall participate in the Supplemental Executive Retirement Plan (“Plan”) established as of March 1, 2019, by First Bank, as such Plan may now exist or hereafter be modified, and do further agree to the terms and conditions thereof. I understand that I must execute this Supplemental Executive Retirement Plan Participation Agreement (“Participation Agreement”) as well as notify the Administrator of such execution in order to participate in the Plan. I acknowledge that I have been given a copy of the Plan document along with this Participation Agreement. The provisions of the Plan are incorporated herein by reference. In the event of an inconsistency between the terms of this Participation Agreement and the Plan, the terms of the Plan shall control, except to the extent that the Plan provides that the Participation Agreement shall control.
FIRST BANK SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN Effective March 1, 2019Supplemental Executive Retirement Plan • March 21st, 2019 • First National Corp /Va/ • State commercial banks
This Supplemental Executive Retirement Plan (the “Plan”) is effective as of the 1st day of March, 2019. This Plan formalizes the agreements by and between First Bank (the “Bank”), a state chartered commercial bank with its principal place of business in Strasburg, Virginia, and one or more key employees, hereinafter referred to as “Executive(s)”, who have been selected and approved by the Bank to participate in this Plan and who have evidenced their participation by execution of a Supplemental Executive Retirement Plan Participation Agreement (“Participation Agreement”) in a form provided by the Bank. This Plan is intended to comply with Internal Revenue Code (“Code”) Section 409A and any regulatory or other guidance issued under such Section and all sections of the Plan shall be construed in a manner consistent with such intent.
