THIRD AMENDMENT TO PHANTOM STOCK APPRECIATION RIGHTS PLAN OF FIRST NATIONAL BANK OF NASSAU COUNTYPhantom Stock Appreciation Rights Plan • March 17th, 2009 • Coastal Banking Co Inc • National commercial banks
Upon mutual consent and for valuable consideration hereby recognized, the individual signing below (the “Participant”) and CBC National Bank (formerly known as and currently doing business as First National Bank of Nassau County) (the “Bank”) hereby agree to amend the Phantom Stock Appreciation Rights Plan for First National Bank of Nassau County (the “Plan”) to bring the Plan into compliance with 26 USC § 409A, including the transition rules under IRS Notice 2007-86. The language below is effective January 1, 2009. Capitalized terms shall have the meanings ascribed to them in the Plan, unless context clearly indicates otherwise.
