EVANS NATIONAL BANK
DEFERRED COMPENSATION PLAN FOR OFFICERS AND DIRECTORS
The purpose of the Evans National Bank Deferred Compensation Plan for Officers and Directors (hereinafter
referred to as the "Plan") is to provide funds at termination of service for Officers and Directors (and their
beneficiaries). It is intended that the Plan will aid in retaining and attracting Officers and Directors of exceptional
For the purpose of this Plan, the following words and phrases shall have the meanings indicated, unless the
context clearly indicates otherwise:
"Affiliate" means Evans Bancorp, Inc. and any wholly owned subsidiary of Evans Bancorp, Inc. (other than the
Bank) or the Bank.
"Bank" means Evans National Bank, Angola, New York.
"Beneficiary" means the person, persons or entity designated by the Participant, or as provided in Article VII, to
receive any benefits payable under the Plan.
"Board" means the Board of Directors of the Bank.
"Compensation" means, in the case of an Officer, base cash compensation only, and, in the case of a Director,
cash retainers and meeting fees.
"Declared Rate" means, with respect to any Plan Year, one (1) percentage point over the prime rate as published
in the Wall Street Journal. The Board shall establish the Declared Rate effective as of January 1 of each Plan
Year, except that the rate shall be determined as of the Plan effective date for the first Plan Year. Such Declared
Rate, once established, shall be used for all interest determinations during such Plan Year. The formula used to
establish the Declared Rate may be amended by a resolution of the Board on a prospective basis.
"Deferral Benefit" means the benefit payable to a Participant or his Beneficiary on his death or termination of
service as an Officer or Director.
"Deferred Benefit Account" means the account maintained on the books of the Bank for each Participant
pursuant to Article V. A Participant's Deferred Benef