EMPLOYMENT AGREEMENT (As Amended and Restated)Employment Agreement • March 12th, 2021 • Carter Bankshares, Inc. • National commercial banks • Virginia
THIS EMPLOYMENT AGREEMENT (this “Agreement”), originally dated as of June 15, 2017 and originally effective as of July 3, 2017 (“Original Effective Date”), is now dated and effective as of November 20, 2020 (the “Restatement Effective Date”), and is made by and between Carter Bankshares, Inc. (“Holding Company”), Carter Bank & Trust (“Bank”) (Holding Company and Bank, both individually and collectively, are referred to herein as “Employer”) and Matthew M. Speare (“Executive”).
CARTER BANKSHARES, INC. TIME-BASED RESTRICTED STOCK AGREEMENTTime-Based Restricted Stock Agreement • March 12th, 2021 • Carter Bankshares, Inc. • National commercial banks • Virginia
This Time-Based Restricted Stock Agreement (this “Agreement”) is entered into and effective as of <<AWARD DATE>> (the “Award Date”) pursuant to Article VII of the Carter Bankshares, Inc. Amended and Restated 2018 Omnibus Equity Incentive Plan (the “Plan”), and evidences the grant of Restricted Stock and the terms, conditions and restrictions pertaining thereto (the “Award”) to <<NAME>> (the “Participant”).
CHANGE OF CONTROL SEVERANCE AGREEMENT (As Amended and Restated)Change of Control Severance Agreement • March 12th, 2021 • Carter Bankshares, Inc. • National commercial banks • Virginia
THIS CHANGE OF CONTROL SEVERANCE AGREEMENT (the “Agreement”), originally dated and effective as of January 8, 2018, is effective this 20th day of November, 2020 (the “Effective Date”), by and between Carter Bankshares, Inc. (the “Holding Company”) and Carter Bank & Trust (the “Bank”) and Arthur Loran Adams (“Employee”).
CARTER BANKSHARES, INC. TIME-BASED RESTRICTED STOCK AGREEMENTTime-Based Restricted Stock Agreement • March 12th, 2021 • Carter Bankshares, Inc. • National commercial banks • Virginia
This Time-Based Restricted Stock Agreement (this “Agreement”) is entered into and effective as of <<AWARD DATE>> (the “Award Date”) pursuant to Article VII of the Carter Bankshares, Inc. Amended and Restated 2018 Omnibus Equity Incentive Plan (the “Plan”), and evidences the grant of Restricted Stock and the terms, conditions and restrictions pertaining thereto (the “Award”) to <<NAME>> (the “Participant”).
ContractNon-Qualified Deferred Compensation Plan • March 12th, 2021 • Carter Bankshares, Inc. • National commercial banks
Exhibit 10.11.1 NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR EXECUTIVES (As Restated Effective January 1, 2018) ADOPTION AGREEMENT (Updated Form January 1, 2020) This Adoption Agreement is the companion document that allows an employer to sponsor and adopt the Virginia Bankers Association Model Non-Qualified Deferred Compensation Plan for Executives (the “Plan”). 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 1Employer(s) Adopting Plan....1 Option 2General Plan Information ..1 Option 3Status of Plan and Effective Date(s) 2 Option 4Definitions and Other Optional Provisions 3 Option 5Employer Contributions ....8 Option 6Vesting 10 Option 7Retirem
ContractNon-Qualified Deferred Compensation Plan • March 12th, 2021 • Carter Bankshares, Inc. • National commercial banks
Exhibit 10.12.1 NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR DIRECTORS (As Restated Effective January 1, 2018) ADOPTION AGREEMENT (Updated Form January 1, 2020) This Adoption Agreement is the companion document that allows a corporation to sponsor and adopt the Virginia Bankers Association Model Non-Qualified Deferred Compensation Plan for Directors (the “Plan”). Each Corporation 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 1Corporation(s) Adopting Plan ...1 Option 2General Plan Information ..1 Option 3Status of Plan and Effective Date(s) .2 Option 4Definitions and Other Optional Provisions ...3 Option 5Time and Form of Payments .5 Option 6Hardship Withdra
