ADAMS NATIONAL BANK EMPLOYEE STOCK OWNERSHIP PLAN
WITH 401(k) PROVISIONS
(AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 1996)
Pursuant to the rights reserved in Section 9.1 of the Adams National Bank Employee Stock Ownership Plan with
401(k) Provisions, heretofore restated as of January 1, 1996, the Plan and Trust is hereby amended as follows,
effective as of January 1, 1997 except as otherwise set forth below:
Section 1.10 is amended to delete the third paragraph therein which states "For a Participant's initial year of
participation,...." and replace it with the following paragraph:
For the initial year of an Employee's participation, "Compensation" shall mean Compensation for the entire Plan
Year, not just Compensation for the portion of the Plan Year in which the Employee was a Participant.
Section 1.31 is amended to add the following language before the final paragraph:
"Highly Compensated Employee" means an Employee described in Code Section 414(q) and the Regulations
thereunder, and generally means an Employee who performs services for the Employer during the Plan Year, and
is in one of the following groups:
(a) Employees who at any time during the Plan Year or the preceding Year were "Five Percent Owners (5%)" as
defined in Section 1.37(c).
(b) Employees who during the preceding Plan Year had Compensation from the Employee in excess of Eighty
Thousand Dollars ($80,000). The Employer may elect to reduce the size of the Highly Compensated Employees
Group in this subparagraph (b) by limiting this group to only those Employees who had Compensation from the
Employer in excess of Eighty Thousand Dollars ($80,000) for the preceding Plan Year.
Section 4.2(k)(3) is amended to add the following language at the end of the paragraph:
Effective January 1, 1997, there will no longer be a required notice period for revocation of a salary deferral
reduction agreement. The revocation shall become