Amendment to C&F Financial Corporation Non-Qualified Deferred Compensation Plan for Executives (2019)
C&F Financial Corporation has amended its Non-Qualified Deferred Compensation Plan for Executives, originally based on the Virginia Bankers Association Model Plan. Effective November 1, 2018, the amendment revises how installment payments from participants' deferral accounts are calculated and deletes certain plan provisions. The amendment was formally adopted on January 22, 2019, and signed by the company's Senior Vice President and Chief Financial Officer.
EXHIBIT 10.4.2
C&F FINANCIAL CORPORATION
NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR EXECUTIVES
(As Restated Effective January 1, 2017)
AMENDMENT
C&F Financial Corporation (the “Plan Sponsor”) has adopted the Virginia Bankers Association Model Non Qualified Deferred Compensation Plan for Executives (the “Plan”). Pursuant to paragraph 14.1 of the Plan, the Plan Sponsor hereby adopts the following administrative and compliance amendments to the Plan:
| 1. | Effective November 1, 2018, subparagraph 9.4(b)(1) of the Plan is amended to read as follows: |
“(i)The quotient obtained by dividing (A) the amount of such Participant’s vested Deferral Account held in the applicable subdivision, determined as though a lump-sum payment were being made as of the last Valuation Date preceding the date of payment of such installment, by (B) the number of installment payments then remaining to be made; or”
| 2. | Effective November 1,2018, subparagraph 3.4(b) is deleted and marked “[RESERVED!” and subparagraph, 3.4(d). including all subsections thereof, is deleted. |
IN WITNESS WHEREOF, this amendment is hereby adopted on this 22 day of January, 2019.
Jason E. Long
C&F Financial Corporation
ByJason E. Long
Its SVP & CFO
