SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN JOINDER AGREEMENTSupplemental Executive Retirement Plan Joinder Agreement • August 7th, 2008 • Citizens Bancshares Corp /Ga/ • State commercial banks
I, ROBERT NESBITT, and CITIZENS TRUST BANK hereby agree that in exchange for good and valuable consideration, the value of which is hereby acknowledged, I shall participate in the Supplemental Executive Retirement Plan (“Plan”) established as of July 1, 2008, by CITIZENS TRUST BANK, as such Plan may now exist or hereafter be modified, and do further agree to the terms and conditions thereof. Capitalized terms not defined herein shall have the same meaning as set forth in the Plan.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN JOINDER AGREEMENTSupplemental Executive Retirement Plan Joinder Agreement • August 7th, 2008 • Citizens Bancshares Corp /Ga/ • State commercial banks
I, CYNTHIA N. DAY, and CITIZENS TRUST BANK hereby agree that in exchange for termination of my Life Insurance Endorsement Method Split Dollar Plan Agreement (“Split Dollar Agreement”), and for other 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 July 1, 2008 by CITIZENS TRUST BANK, as such Plan may now exist or hereafter be modified, and do further agree to the terms and conditions thereof. I acknowledge and agree that this Plan supersedes and replaces my Executive Supplemental Retirement Plan Agreement (the “Indexed Retirement Plan”) in which I previously participated. Capitalized terms not defined herein shall have the same meaning as set forth in the Plan.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN JOINDER AGREEMENTSupplemental Executive Retirement Plan Joinder Agreement • August 7th, 2008 • Citizens Bancshares Corp /Ga/ • State commercial banks
I, SAMUEL J. COX, and CITIZENS TRUST BANK hereby agree that in exchange for termination of my Life Insurance Endorsement Method Split Dollar Plan Agreement (“Split Dollar Agreement”), and for other good and valuable consideration, the value of which is hereby acknowledged,
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN CITIZENS TRUST BANK Effective July 1, 2008Supplemental Executive Retirement Plan • August 7th, 2008 • Citizens Bancshares Corp /Ga/ • State commercial banks
This Supplemental Executive Retirement Plan (the “Plan”) is effective as of July 1, 2008. This Plan formalizes the agreements by and between CITIZENS TRUST BANK (the “Bank”), a bank organized and existing under the laws of the State of Georgia, and certain 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 Joinder Agreement (“Joinder Agreement”) in a form provided by the Bank. This Plan replaces the individual Executive Supplemental Retirement Plan Agreements and Executive Indexed Salary Continuation Plan Agreements between the Bank (or First Southern Bank, which merged into the Bank) and Executives. The Plan is intended to comply with Internal Revenue Code (“Code”) Section 409A and any regulatory or other guidance issued under such Section. Any reference herein to the “Company” shall mean CITIZENS BANCSHARES C
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN JOINDER AGREEMENTSupplemental Executive Retirement Plan Joinder Agreement • August 7th, 2008 • Citizens Bancshares Corp /Ga/ • State commercial banks
I, JAMES E. YOUNG, and CITIZENS TRUST BANK hereby agree that in exchange for termination of my Life Insurance Endorsement Method Split Dollar Plan Agreement (“Split Dollar Agreement”), and for other 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 July 1, 2008, by CITIZENS TRUST BANK, as such Plan may now exist or hereafter be modified, and do further agree to the terms and conditions thereof. I acknowledge and agree that this Plan supersedes and replaces my Executive Supplemental Retirement Plan Agreement (the “Indexed Retirement Plan”) in which I previously participated. Capitalized terms not defined herein shall have the same meaning as set forth in the Plan.
