Common use of Compliance with ERISA and the Code Clause in Contracts

Compliance with ERISA and the Code. The Plan is established and maintained for the benefit of Directors of the Company and is not intended for the benefit of any Employee in his capacity as such Employee and, therefore, it is intended that the Plan is exempt from the provisions of Title I of ERISA. The Plan is not intended to qualify under Section 401(a) of the Code. This Plan is intended to comply with Section 409A of the Code and all regulations and other guidance issued hereunder.

Compliance with ERISA and the Code. The Plan is established and maintained for the benefit of Directors of the Company Bank of Ruston and its subsidiaries and is not intended for the benefit of any Employee in his capacity as such Employee and, therefore, it is intended that the Plan is exempt from the provisions of Title I of ERISA. The Plan is not intended to qualify under Section 401(a) of the Code. This Plan is intended to comply with Section 409A of the Code and all regulations and other guidance issued hereunder.