First Amendment to C&F Financial Corporation Executive Deferred Compensation Plan (2018)
This amendment, effective January 1, 2018, modifies the C&F Financial Corporation Executive Deferred Compensation Plan. It clarifies that if a participant who has started receiving periodic installment payments dies, any remaining unpaid installments will be paid to the participant's beneficiary over the originally scheduled period. The amendment is adopted by C&F Financial Corporation, signed by its SVP & CFO.
EXHIBIT 10.4.1
FIRST AMENDMENT TO
C&F FINANCIAL CORPORATION
EXECUTIVE DEFERRED COMPENSATION PLAN
(As Restated Effective January 1, 2018)
Pursuant to subparagraph 14.1(b), the Administrator hereby adopts the following amendment to the Virginia Bankers Association Model Non-Qualified Deferred Compensation Plan for Executives) (the companion document to the Adoption Agreement for the Executive Deferred Compensation Plan for C&F Financial Corporation):
1.A new subparagraph 9.4(d) is added to the Plan to clarify payment rules if death occurs after commencement of periodic installment, to read as follows effective as of January 1, 2018:
9.4(d)In the event that a Participant who has begun to receive periodic installment payments dies, the amounts of any periodic installments remaining unpaid shall be paid to his Beneficiary over the remaining term certain for such installments.
This First Amendment is adopted by the Plan Sponsor as Administrator on this 1st day of January, 2018.
________________________________________
Plan Sponsor
By: Jason E. Long (SEAL)
Its SVP & CFO
- 1 -
