DEFERRED COMPENSATION PLAN
FOR DIRECTORS OF RED RIVER BANCSHARES, INC. AND SUBSIDIARIES
(Amended and Restated effective July 30, 2019)
WHEREAS, Red River Bancshares, Inc. previously adopted the Deferred Compensation Plan for Directors and Senior Management Employees of Red River Bancshares, Inc. and Subsidiaries (Amended and Restated effective January 1, 2007) (the Combined Plan); and
WHEREAS, in order to facilitate the termination of participation by non-employee directors in the Combined Plan, it is desirable to establish two separate deferred compensation plans, one for non-employee directors, and a second plan for senior management employees;
NOW, THEREFORE, Red River Bancshares, Inc. hereby amends and restates the Combined Plan as the Deferred Compensation Plan for Directors of Red River Bancshares, Inc. and Subsidiaries (Amended and Restated effective January 1, 2019).
ARTICLE 1. ESTABLISHMENT AND PURPOSE.
1.1. Establishment. Red River Bancshares, Inc. hereby amends and restates, effective January 1, 2019, a deferred compensation plan for directors, as set forth herein.
1.2. Purpose. The purpose of this deferred compensation plan is to provide a means for the deferral by directors of Red River Bancshares, Inc. and its subsidiaries (the Corporation) of annual retainer fees and fees for attendance at meetings of the Board of Directors of the Corporation, committees of the Board of Directors of the Corporation. This Plan is unfunded and is maintained by the employer primarily for the purpose of providing deferred compensation to non-employees. The Plan is to be interpreted to the fullest extent to comply with Code Section 409A as added by the American Jobs Creation Act of 2004 and any regulations or guidance thereunder, and including any amendments thereto.