0001829576-22-000009 Sample Contracts

CARTER BANKSHARES, INC. FORM OF PERFORMANCE UNIT AGREEMENT
Performance Unit Agreement • March 2nd, 2022 • Carter Bankshares, Inc. • National commercial banks • Virginia

This Performance Unit Agreement (this “Agreement”) is entered into and effective as of <<AWARD DATE>> (the “Award Date”) pursuant to Article XI of the Carter Bankshares, Inc. Amended and Restated 2018 Omnibus Equity Incentive Plan (the “Plan”), and evidences the grant of performance units and the terms, conditions and restrictions pertaining thereto (the “Award”) to <<NAME>> (the “Participant”).

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CARTER BANKSHARES, INC. FORM OF TIME-BASED RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • March 2nd, 2022 • 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”).

CARTER BANKSHARES, INC. FORM OF TIME-BASED RESTRICTED STOCK AGREEMENT Granted «Award Date»
Restricted Stock Agreement • March 2nd, 2022 • 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”).

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