SUPPLEMENTAL DIRECTOR RETIREMENT PLAN CRESCENT BANK AND TRUST COMPANY Jasper, Georgia Effective September 1, 2007Supplemental Director Retirement Plan • March 20th, 2008 • Crescent Banking Co • State commercial banks
This Supplemental Director Retirement Plan (the “Plan”) is effective as of September 1, 2007. This Plan formalizes the agreements by and between CRESCENT BANK AND TRUST COMPANY (the “Bank”), a state chartered commercial bank, and certain directors, hereinafter referred to as “Director(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 Director Retirement Joinder Agreement (“Joinder Agreement”) in a form provided by the Bank. This Plan replaces the individual Director Supplemental Retirement Plan Agreements between the Bank and Directors and 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 CRESCENT BANKING COMPANY. The Company shall be a signatory to this Plan for the sole purpose of guaranteeing the Bank’s performance hereunder.
