<SEC-DOCUMENT>0001558370-20-008997.txt : 20200803
<SEC-HEADER>0001558370-20-008997.hdr.sgml : 20200803
<ACCEPTANCE-DATETIME>20200803175008
ACCESSION NUMBER:		0001558370-20-008997
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20200803
DATE AS OF CHANGE:		20200803
EFFECTIVENESS DATE:		20200803

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOUTH STATE Corp
		CENTRAL INDEX KEY:			0000764038
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				570799315
		STATE OF INCORPORATION:			SC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-240317
		FILM NUMBER:		201070389

	BUSINESS ADDRESS:	
		STREET 1:		520 GERVAIS STREET
		CITY:			COLUMBIA
		STATE:			SC
		ZIP:			29201
		BUSINESS PHONE:		803-231-3452

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1030
		CITY:			COLUMBIA
		STATE:			SC
		ZIP:			29201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST FINANCIAL HOLDINGS, INC.
		DATE OF NAME CHANGE:	20130729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCBT FINANCIAL CORP
		DATE OF NAME CHANGE:	20040227

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST NATIONAL CORP /SC/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tmb-20200803xs8.htm
<DESCRIPTION>S-8
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.7.0.58--><!--Created on: 8/3/2020 07:48:22 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">As filed with the Securities and Exchange Commission on August 3, 2020</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Registration No.&#160;333-</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;text-align:right;text-indent:0pt;border-bottom:1px solid #000000;border-top:3.0pt solid #000000;margin:0pt;"><font style="font-size:1pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:4pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-size:16pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-size:16pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">WASHINGTON, D.C. 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-size:16pt;font-weight:bold;">FORM&#160;S-8</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-size:16pt;font-weight:bold;">SOUTH STATE CORPORATION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(Exact name of registrant as specified in its charter)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr style="height:1pt;"><td style="vertical-align:top;width:49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:2.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:48.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:top;width:49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">South Carolina</b></p></td><td style="vertical-align:top;width:2.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;&#160;&#160;&#160;</p></td><td style="vertical-align:top;width:48.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">57-0799315</b></p></td></tr><tr><td style="vertical-align:top;width:49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:3pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:3pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:48.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:3pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(State or other jurisdiction of<br>incorporation or organization)</p></td><td style="vertical-align:top;width:2.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:1pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:48.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(I.R.S. Employer Identification No.)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:4pt;margin:0pt;"><font style="font-size:4pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">1101 First Street South, Suite&#160;202</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Winter Haven, Florida 33880</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(Address of Principal Executive Offices) (Zip Code)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">South State Deferred Income Plan</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(Full title of the plan)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:8.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">John C. Corbett</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Chief Executive Officer</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">South State Corporation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">1101 First Street South, Suite&#160;202</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Winter Haven, Florida 33880</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(Name and address of agent for service)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(863) 293-4710</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;">(Telephone number, including area code, of agent for service)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:8.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &quot;emerging growth company&quot; in Rule&#160;12b-2 of the Exchange Act.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:80%;" align="center"><tr><td style="vertical-align:top;width:33.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;">Large accelerated filer</p></td><td style="vertical-align:bottom;width:20.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;"><font style="font-family:'Times New 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;">Smaller reporting company</p></td><td style="vertical-align:top;width:15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;"><font style="font-family:'Times New Roman';">&#9723;</font></p></td></tr><tr style="height:13.05pt;"><td style="vertical-align:top;width:33.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:20.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:30.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;">Emerging growth company</p></td><td style="vertical-align:top;width:15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;"><font style="font-family:'Times New Roman';">&#9723;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;7(a)(2)(B)&#160;of the Securities Act.<font style="display:inline-block;width:28.09pt;"></font><font style="font-family:'Times New Roman';">&#9723;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:4pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">CALCULATION OF REGISTRATION FEE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><font style="font-size:5pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:99.98%;" align="center"><tr style="height:1pt;"><td style="vertical-align:middle;width:33.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:12.05%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:2.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:16.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:1.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:16.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:1.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New 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style="vertical-align:middle;width:1.86%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:1pt 0pt 1pt 0pt;">&#160;&#160;&#160;</p></td><td style="vertical-align:middle;width:12.05%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:1pt 0pt 1pt 0pt;"><b style="font-weight:bold;">Amount&#160;to&#160;be<br>registered</b><sup style="font-size:6pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:middle;width:2.77%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:1pt 0pt 1pt 0pt;">&#160;&#160;&#160;</p></td><td style="vertical-align:middle;width:16.62%;border-bottom:1px solid #000000;border-top:1px solid 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style="background-color:#cceeff;vertical-align:bottom;width:1.86%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:2pt 0pt 2pt 0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:12.05%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:2pt 0pt 2pt 0pt;">$22,000,000</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:2.77%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:2pt 0pt 2pt 0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:16.62%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:2pt 0pt 2pt 0pt;">100%</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:1.84%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:2pt 0pt 2pt 0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:16.66%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:2pt 0pt 2pt 0pt;">$22,000,000<sup style="font-size:6pt;vertical-align:top;">(2)</sup></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:1.84%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:2pt 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style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:16.66%;border-bottom:3.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:1pt 0pt 1pt 0pt;">$22,000,000<sup style="font-size:6pt;vertical-align:top;">(3)</sup></p></td><td style="vertical-align:bottom;width:1.84%;border-bottom:3.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:1pt 0pt 1pt 0pt;"><font style="font-size:8pt;margin-bottom:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:12.95%;border-bottom:3.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:1pt 0pt 1pt 0pt;"><sup style="font-size:6pt;vertical-align:top;">(2)</sup><font style="margin-bottom:12pt;vertical-align:top;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:4pt;margin:0pt;"><font style="font-size:4pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;text-align:left;">The Deferred Compensation Obligations are unsecured obligations of to pay up to $22,000,000 of deferred compensation from time to time in the future in accordance with the terms of the South State Deferred Income Plan, as amended, which may be paid in shares of common stock of the registrant. The amount of common shares of the registrant registered and the proposed maximum aggregate offering price of such shares of common stock assume that all Deferred Compensation Obligations are allocated to deemed investments in shares of such common stock, at a deemed per share price calculated as set forth in note (3)&#160;below, and ultimately paid to plan participants in the form of shares of common stock. In addition to such shares, pursuant to Rule&#160;416(a)&#160;under the Securities Act, this Registration Statement covers an undetermined number of shares of common stock of the registrant that may become issuable to prevent dilution from stock splits, stock dividends or similar transactions with respect to the shares registered hereunder.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;text-align:left;">Estimated solely for the purpose of calculating the amount of the registration fee, in accordance with Rule 457(h)&#160;and Rule 457(o) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). As contemplated by 239.03 of the staff of the Division of Corporation Finance Compliance and Disclosure Interpretations of the Securities Act Sections, the registration fee is based on the amount of deferred compensation being registered.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman';font-size:8pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;text-align:left;">Estimated in accordance with Rule&#160;457(c)&#160;and Rule&#160;457(h)&#160;under the Securities Act, based on the average of the high and low prices for South State Corporation&#8217;s common stock on The NASDAQ Global Select Market on July 28, 2020, which date is within five business&#160;days prior to filing this Registration Statement, solely for the purpose of determining the number of shares of common stock to be registered based on the amount of Deferred Compensation Obligations registered and the amount of the registration fee.</font></td></tr></table><div style="margin-top:6pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;border-bottom:3.0pt solid #000000;border-top:1px solid #000000;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:2pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times New Roman','Times','serif';line-height:0pt;margin:0pt;"><font style="font-size:0pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">PART&#160;I</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The document(s)&#160;containing the information specified in Part&#160;I will be sent or given to Plan participants as specified by Rule&#160;428(b)(1)&#160;of the Securities Act. Such documents need not be filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule&#160;424 of the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item&#160;3 of Part&#160;II hereof, taken together, constitute a prospectus that meets the requirements of Section&#160;10(a)&#160;of the Securities Act.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">PART&#160;II</p><p style="font-family:'Times New Roman','Times','serif';font-size:3pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">ITEM&#160;3.</b>&#160;<b style="font-size:10pt;font-weight:bold;">INCORPORATION OF DOCUMENTS BY REFERENCE.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The following documents filed with the Commission by the Company are hereby incorporated in this Registration Statement by reference:</p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">The Company&#8217;s Annual Report on Form&#160;10-K for the&#160;year ended December&#160;31, 2019 filed with the Commission on </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000155837020001131/ssb-20191231x10ka6f6de.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">February&#160;21, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, as amended by Amendment No.&#160;1 to the Company&#8217;s Annual Report on Form&#160;10-K/A filed with the Commission on </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000155837020002156/ssb-20191231x10ka06697.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">March&#160;6, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">;</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">2.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">The Company&#8217;s Quarterly Report on Form&#160;10-Q for the period ended March&#160;31, 2020 filed with the Commission on </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000155837020004989/ssb-20200504x10q.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;4, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">;</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">3.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">The Company&#8217;s Current Reports on Form&#160;8-K or Form&#160;8-K/A filed with the Commission on </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920006920/tm205893-2_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">January&#160;27, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920008157/tm205893-6_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">January&#160;29, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920052626/tm2017960-1_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">April&#160;29, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920057510/tm2018796-1_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;6, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920058968/tm2018796d2_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;11, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920059690/tm2018796d4_8ka.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;11, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920062911/tm2019844-3_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;18, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920064822/tm2019844d5_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;21, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920065310/tm2019844d6_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">May&#160;22, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000155837020007251/ssb-20200603x8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">June&#160;3, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, and </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/764038/000110465920070646/tm2021778-1_8k.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">June&#160;8, 2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;"> (other than those portions of the documents deemed not to be filed); and</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">4.</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">The description of the Company&#8217;s common stock, par value $2.50 per share, contained in the Amendment No.&#160;1 to the Registration Statement on Form&#160;S-4 filed on </font><a href="https://www.sec.gov/Archives/edgar/data/764038/000104746920002366/a2241187zs-4a.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">April&#160;16,&#160;2020</font></a><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">, including any amendment or report filed for the purpose of updating such description.</font></td></tr></table><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">All documents filed by the Company pursuant to Section&#160;13(a), 13(c), 14 or 15(d)&#160;of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) subsequent to the date of this Registration Statement (other than any such documents or portions thereof that are furnished under Item&#160;2.02 or Item&#160;7.01 of a Current Report on Form&#160;8-K, unless otherwise indicated therein, including any exhibits included with such Items), prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Any statement contained in this Registration Statement or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained or incorporated by reference herein or in any subsequently filed document which is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">EXPERTS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The consolidated financial statements of South State Corporation as of December&#160;31, 2019 and 2018, and for each of the&#160;years in the three-year period ended December&#160;31, 2019, and the effectiveness of internal control over financial reporting as of December&#160;31, 2019, incorporated in this Registration Statement by reference to the Annual Report on Form&#160;10-K for the&#160;year ended December&#160;31, 2019 have been so incorporated in reliance upon the reports of Dixon Hughes Goodman LLP, and upon the authority of said firm as experts in auditing and accounting.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:3pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">ITEM&#160;4.</b>&#160;<b style="font-size:10pt;font-weight:bold;">DESCRIPTION OF SECURITIES.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Deferred Compensation Obligations being registered represent unsecured obligations (the &#8220;Obligations&#8221;) of South State Corporation (&#8220;we,&#8221; &#8220;our,&#8221; &#8220;us,&#8221; &#8220;South State&#8221; or the &#8220;Company&#8221;) and its wholly-owned subsidiaries that are participating employers, including South State Bank, National Association (the &#8220;Bank&#8221;), to make future payments to applicable participants in the South State Deferred Income Plan (as amended, the &#8220;Plan&#8221;), which may be paid in shares of our common stock, in such amounts and at such times as specified by the terms of the Plan. The Plan is a non-qualified and unfunded defined contribution retirement plan. Executive officers and certain other management or highly compensated employees are eligible to participate in the Plan. A participant may make an annual election to defer between 5% and 80% of the participant&#8217;s eligible compensation for the immediately following&#160;year under the Plan, and a participant may be permitted to defer the receipt of settlement of amounts owed under restricted stock units issued under our equity incentive plans. In addition, participating subsidiary employers may, but are not required to, make matching contributions equal to a portion of a participant&#8217;s compensation deferred under the Plan or discretionary contributions to the Plan. Contributions are credited to bookkeeping accounts on behalf of Plan participants. A participant&#8217;s account earns deemed returns on the participant&#8217;s notional account balances based on deemed investments in hypothetical investment funds selected by the participant from a list of hypothetical funds made available, which may include, but not be limited to, hypothetical shares of our common stock (and deemed dividend reinvestments therein). To the extent that a portion of a participant&#8217;s notional account is deemed to be invested in hypothetical shares of Company common stock, a participant cannot thereafter select a different hypothetical investment fund on which such portion of the participant&#8217;s notional account will earn returns.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Participants are fully vested in their account balances attributable to their elective compensation deferral contributions. Participants may be fully vested immediately with respect to, or vesting may be subject to conditions determined in connection with, any matching or discretionary contributions. A participant&#8217;s vested account balance will be distributed to the participant in a single lump sum following the first to occur of the participant&#8217;s death, disability, separation from service or a change in control, subject to potential participant elections, if made in accordance with the terms of the Plan and applicable federal income tax provisions applicable to non-qualified deferred compensation, with respect to in-service distributions, installment distributions with respect to retirement, and opting out of change in control distributions. If payment is triggered by death, disability, separation from service or a change in control, it will be made within thirty&#160;days following the separation from service (or on the six&#160;month anniversary of the separation from service if the participant is a Section&#160;409A &#8220;specified employee&#8221; on the date of separation from service, and subject to any validly made election with respect to installment distributions with respect to retirement or opting out of a change in control event distribution). Payment will be made in the form of shares of our common stock to the extent the participant&#8217;s notional account is deemed to be invested in hypothetical Company common stock; otherwise payment will be made in cash.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">There is no trading market for the Obligations. Neither the participant nor his or her beneficiary has any right to sell, alienate, assign, transfer or otherwise convey the right to receive any payments under the Plan or any interest in the Plan, which payments and interest are expressly non-assignable and non-transferable. The interests of each participant under the Plan are not subject to claims of the participant&#8217;s creditors.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Obligations are unsecured general obligations of ours, ranking equally with our other unsecured and unsubordinated indebtedness, to make future distributions of our common stock to participants in accordance with the terms of the Plan, and are unsecured general obligations, ranking equally with other unsecured and unsubordinated indebtedness, of participating employers to make future distributions of cash or our common stock to participants in accordance with the terms of the Plan. Obligations are unsecured and subject to the risks of insolvency of the Company and participating subsidiary employers. A &#8220;rabbi trust&#8221; has been established to hold, invest and reinvest deferrals and contributions under the Plan. However, the rabbi trust assets will remain subject to the claims of the creditors of the Company and a participating subsidiary employer in the event of bankruptcy or insolvency.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Obligations are not convertible into any other security, other than shares of our common stock upon a distribution pursuant to the terms of the Plan in the form of shares of our common stock to the extent the participant&#8217;s notional account is deemed to be invested in hypothetical Company common stock. We reserve the right to amend, merge, consolidate or terminate the Plan at any time or from time to time, except that no such action may, without the consent of the affected participant, affect any of the participant&#8217;s rights with respect to the amount then credited to the participant&#8217;s account.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The description of the terms and conditions of the Obligations in this Item&#160;4 is qualified by reference to the form of Plan, which is filed as Exhibit&#160;4.4 to this Registration Statement and incorporated herein by reference.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As set forth in Item&#160;3 above, the description of the Company&#8217;s common stock, par value $2.50 per share, is incorporated by reference into this Registration Statement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:3pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">ITEM&#160;5.</b>&#160;<b style="font-size:10pt;font-weight:bold;">INTERESTS OF NAMED EXPERTS AND COUNSEL.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:3pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">ITEM&#160;6.</b>&#160;<b style="font-size:10pt;font-weight:bold;">INDEMNIFICATION OF DIRECTORS AND OFFICERS.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Section&#160;33-2-102 of the South Carolina Business Corporation Act of 1988, as amended (the &#8220;SCBCA&#8221;) permits a South Carolina corporation to include in its articles of incorporation a provision eliminating or limiting the personal liability of its directors to the corporation and its shareholders for monetary damages for breach of fiduciary duty as a director, except: (1)&#160;for any breach of the director&#8217;s duty of loyalty to the corporation or its shareholders, (2)&#160;for acts or omissions not in good faith or which involve gross negligence, intentional misconduct or a knowing violation of law, (3)&#160;as imposed for any unlawful distributions as set forth in Section&#160;33-8-330 of the SCBCA or (4)&#160;for any transaction from which the director derived an improper personal benefit. South State&#8217;s articles of incorporation contain such a provision, thereby limiting the liability of its directors to the maximum extent permitted by South Carolina law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Section&#160;33-8-510 of the SCBCA permits a South Carolina corporation to indemnify an individual who is made a party to any proceeding because he or she is or was a director against liability incurred in the proceeding if he or she: (1)&#160;conducted himself or herself in good faith, (2)&#160;reasonably believed that his or her conduct was in the corporation&#8217;s best interest or, if he or she was not acting in his or her official capacity, that such conduct was at least not opposed to the corporation&#8217;s best interest and (3)&#160;in the case of a criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful. The SCBCA provides that where a director is a defendant in a proceeding by or in the right of the corporation, the director may not be indemnified if he or she is adjudged liable to the corporation. The SCBCA also provides that a director may not be indemnified in respect of any proceeding alleging improper personal benefit in which he or she was adjudged liable on the grounds that personal benefit was improperly received by such director. Under Section&#160;33-8-540 of the SCBCA, a director found liable in a proceeding by or in the right of the corporation or in a proceeding alleging improper personal benefit may petition a court to nevertheless order indemnification of reasonable expenses if the court determines that the director is fairly and reasonably entitled to indemnification in view of all the relevant circumstances.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Section&#160;33-8-520 of the SCBCA provides that, unless limited by the articles of incorporation of a South Carolina corporation, a director who is wholly successful on the merits or otherwise in defense of any proceeding to which such director was a party because such director is or was a director of the corporation must be indemnified against reasonable expenses. Section&#160;33-8-530 of the SCBCA provides that a South Carolina corporation may advance reasonable expenses to a director upon the corporation&#8217;s receipt of (1)&#160;a written affirmation by the director of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification by the corporation and (2)&#160;a written undertaking, executed by the director or on his or her behalf, to repay the amount paid or reimbursed by the corporation if it is ultimately determined that the standard of conduct was not met, so long as a determination is made by the corporation that indemnification is proper under Section&#160;33-8-530 of the SCBCA.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Section&#160;33-8-560 of the SCBCA provides that unless a corporation&#8217;s articles of incorporation provide otherwise: (1)&#160;an officer of the corporation who is not a director is entitled to mandatory indemnification under Section&#160;33-8-520, and is entitled to apply for court-ordered indemnification under Section&#160;33-8-540, in each case to the same extent as a director; (2)&#160;the corporation may indemnify and advance expenses to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and (3)&#160;a corporation also may indemnify and advance expenses to an officer, employee or agent who is not a director to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors or contract.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">South State&#8217;s bylaws provide for the indemnification of any current and former directors and officers to the fullest extent authorized by law against (a)&#160;reasonable expenses, including attorneys&#8217; fees, incurred by him or her in connection with any threatened, pending or completed civil, criminal, administrative, investigative or arbitrative action, suit or proceeding (and any appeal therein), whether or not brought by or on behalf of South State, seeking to hold him </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">or her liable by reason of the fact that he or she is or was acting in such capacity, and (b)&#160;reasonable payments made by him or her in satisfaction of any judgment, money decree, fine (including an excise tax assessed with respect to an employee benefit plan), penalty or settlement for which he or she may have become liable in any such action, suit or proceeding. South State&#8217;s bylaws further provide that the foregoing right to indemnification shall include the right to be paid by South State the reasonable expenses (including attorney&#8217;s fees) incurred in defending any such action, suit or proceeding in advance of its final disposition; provided, however, that, if required by law, an advancement of expenses incurred by a claimant shall be made only if: (a)&#160;the claimant furnishes South State with a written affirmation of his or her good faith belief that he or she met the standard of conduct required by law; and (b)&#160;the claimant furnishes South Sate with a written undertaking, executed personally on his or her behalf, to repay the advance if it is ultimately determined that he or she did not meet the standard of conduct.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">South State&#8217;s bylaws provide that South State may, to the extent authorized from time to time by South State&#8217;s board of directors, grant rights of indemnification and to the advancement of expenses to any employee or agent of South State consistent with the other provisions of South State&#8217;s bylaws concerning the indemnification of South State directors and officers. South State&#8217;s bylaws provide that South State may maintain insurance, at its expense, to protect itself and any director, officer, employee or agent of South State or another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not South State would have the power to indemnify such person against such expense, liability or loss under applicable law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The foregoing is only a general summary of certain aspects of South Carolina law and South State&#8217;s articles of incorporation and bylaws dealing with indemnification of directors and officers, and does not purport to be complete. It is qualified in its entirety by reference to the detailed provisions of those Sections of the SCBCA referenced above and the South State&#8217;s articles of incorporation and bylaws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:3pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">ITEM&#160;7.</b>&#160;<b style="font-size:10pt;font-weight:bold;">EXEMPTION FROM REGISTRATION CLAIMED.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">ITEM&#160;8. EXHIBITS.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The list of exhibits is set forth under &#8220;Exhibit&#160;Index&#8221; at the end of this Registration Statement and is incorporated herein by reference.</p><p style="font-family:'Times New Roman','Times','serif';font-size:3pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">ITEM&#160;9.</b>&#160;<b style="font-size:10pt;font-weight:bold;">UNDERTAKINGS.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">1.&#160;&#160;&#160;The undersigned registrant hereby undertakes:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;">(a)&#160;&#160;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:108pt;margin:0pt 0pt 12pt 0pt;">(i)&#160;&#160;&#160;To include any prospectus required by Section&#160;10(a)(3)&#160;of the Securities Act of 1933;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:108pt;margin:0pt 0pt 12pt 0pt;">(ii)&#160;&#160;&#160;To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule&#160;424(b)&#160;if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective Registration Statement;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:108pt;margin:0pt 0pt 12pt 0pt;">(iii)&#160;&#160;&#160;To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><i style="font-style:italic;">provided, however</i>, that paragraphs (1)(a)(i)&#160;and (1)(a)(ii)&#160;do not apply if the Registration Statement is on Form&#160;S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">with or furnished to the SEC by the registrant pursuant to Section&#160;13 or 15(d)&#160;of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;">(b)&#160;&#160;That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial&#160;<i style="font-style:italic;">bona fide</i>&#160;offering thereof.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;">(c)&#160;&#160;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">2.&#160;&#160;&#160;The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;s annual report pursuant to Section&#160;13(a)&#160;or 15(d)&#160;of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section&#160;15(d)&#160;of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial&#160;<i style="font-style:italic;">bona fide</i>&#160;offering thereof.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">3.&#160;&#160;&#160;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">EXHIBIT&#160;INDEX</p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;" align="center"><tr><td style="vertical-align:bottom;width:6.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">Exhibit</b><br><b style="font-weight:bold;">Number</b></p></td><td style="vertical-align:bottom;width:2.47%;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;&#160;&#160;&#160;</b></p></td><td style="vertical-align:bottom;width:90.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Description</b></p></td></tr><tr><td style="vertical-align:top;width:6.79%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.1</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="https://www.sec.gov/Archives/edgar/data/764038/000110465914074397/a14-23092_1ex3d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Amended and Restated Articles of Incorporation of South State Corporation, filed October&#160;24, 2014 (incorporated by reference to Exhibit&#160;3.1 to the Registrant&#8217;s Current Report on Form&#160;8-K filed on October&#160;28, 2014)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.2</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="https://www.sec.gov/Archives/edgar/data/764038/000110465917064063/a17-24438_1ex3d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Articles of Amendment to the Amended and Restated Articles of Incorporation of South State Corporation, dated October&#160;25, 2017 (incorporated by reference to Exhibit&#160;3.1 to the Registrant&#8217;s Current Report on Form&#160;8</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">&#8209;</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">K filed on October&#160;26, 2017)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.3</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="https://www.sec.gov/Archives/edgar/data/764038/000110465920070646/tm2021778d1_ex3-1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Articles of Amendment to the Amended and Restated Articles of Incorporation of South State Corporation, dated June&#160;2, 2020 (incorporated by reference to Exhibit&#160;3.1 to the Registrant&#8217;s Current Report on Form&#160;8</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">&#8209;</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">K filed on June&#160;8, 2020)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.4</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="https://www.sec.gov/Archives/edgar/data/764038/000110465920070646/tm2021778d1_ex3-2.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Amended and Restated Bylaws of South State Corporation, dated June&#160;7, 2020 (incorporated by reference to Exhibit&#160;3.2 to South State Corporation&#8217;s Current Report on Form&#160;8-K, filed on June&#160;8, 2020)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4.1</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="https://www.sec.gov/Archives/edgar/data/764038/000104746915001398/a2223162zex-4_1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Specimen of South State Corporation Common Stock Certificate (incorporated by reference as Exhibit&#160;4.1 to South State Corporation&#8217;s Annual Report on Form&#160;10-K filed on February&#160;27, 2015)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4.2</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Articles of Incorporation (included as Exhibits, <a href="https://www.sec.gov/Archives/edgar/data/764038/000110465914074397/a14-23092_1ex3d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">3.1</font></a>, <a href="https://www.sec.gov/Archives/edgar/data/764038/000110465917064063/a17-24438_1ex3d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">3.2</font></a>, and <a href="https://www.sec.gov/Archives/edgar/data/764038/000110465920070646/tm2021778d1_ex3-1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">3.3</font></a>)</p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4.3</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bylaws (included as Exhibit&#160;<a href="https://www.sec.gov/Archives/edgar/data/764038/000110465920070646/tm2021778d1_ex3-2.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">3.4</font></a>)</p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4.4</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="tmb-20200803xex4d4.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Form&#160;of South State Deferred Income Plan (as amended and restated)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5.1</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="tmb-20200803xex5d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Opinion of V. Nicole Comer, Senior Vice President and Deputy General Counsel to South State Corporation, as to the validity of the shares to be issued.</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">23.1</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="tmb-20200803xex23d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Consent of Dixon Hughes Goodman LLP</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">23.2</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="tmb-20200803xex5d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Consent of V. Nicole Comer (included in Exhibit&#160;5.1)</font></a></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:6.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">24.1</p></td><td style="vertical-align:top;width:2.47%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:90.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a href="#Signatures"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Power of Attorney (contained on the signature pages&#160;of this Registration Statement)</font></a></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><a name="Signatures"></a>SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">The Registrant:</b> Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&#160;S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Columbia, South Carolina, on August 3, 2020.</p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;" align="center"><tr style="height:1pt;"><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:46.02%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">SOUTH STATE CORPORATION</b></p></td></tr><tr><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">&#160;</b>(Registrant)</p></td></tr><tr><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:46.02%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td style="vertical-align:top;width:46.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ John C. Corbett</i></p></td></tr><tr><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:46.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Name: John C. Corbett</p></td></tr><tr><td style="vertical-align:top;width:50.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:46.02%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Title: Chief Executive Officer</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">KNOW ALL PERSONS BY THESE PRESENTS that each person whose signature appears below hereby constitutes and appoints John C. Corbett and William E. Matthews, and each of them singly, his or her true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this Registration Statement (any of which amendments may make such changes and additions to this Registration Statement as such attorneys-in-fact may deem necessary or appropriate) and to file the same, with all exhibits thereto, and any other documents that may be required in connection therewith, granting unto said attorneys-in-fact and agents full power and authority to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registration Statement has been signed below by the following persons in the capacities set forth below and on August 3, 2020:</p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:95%;" align="center"><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Signature</b></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">&#160;&#160;&#160;&#160;</b></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Title</b></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ John C. Corbett</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Executive Officer and Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">John C. Corbett</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">(Principal Executive Officer)</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ William E. Matthews, V</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Financial Officer</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">William E. Matthews, V</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">(Principal Financial Officer)</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Sara G. Arana</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Accounting Officer</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Sara G. Arana</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">(Principal Accounting Officer)</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Robert R. Hill, Jr.</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chairman of the Board of Directors</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Robert R. Hill,&#160;Jr.</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Charles W. McPherson</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Lead Independent Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Charles W. McPherson</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Jean E. Davis</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Jean E. Davis</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Martin B. Davis</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Martin B. Davis</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Robert H. Demere, Jr.</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Robert H. Demere,&#160;Jr.</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Cynthia A. Hartley</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Cynthia A. Hartley</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:95%;" align="center"><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ John H. Holcomb, III</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">John H. Holcomb, III</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Robert R. Horger</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Robert R. Horger</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Ernest S. Pinner</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Ernest S. Pinner</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ John C. Pollok</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">John C. Pollok</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ William Knox Pou, Jr.</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">William Knox Pou,&#160;Jr.</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ G. Ruffner Page, Jr.</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">G. Ruffner Page,&#160;Jr.</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ David G. Salyers</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">David G. Salyers</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Joshua A. Snively</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Joshua A. Snively</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">/s/ Kevin P. Walker</i></p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td rowspan="2" style="vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Director</p></td></tr><tr><td style="vertical-align:middle;width:48.91%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Kevin P. Walker</p></td><td style="vertical-align:middle;width:2.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="display:none;vertical-align:middle;width:48.92%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border-width:0;"></body></html>
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<DESCRIPTION>EX-4.4
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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.7.0.58--><!--Created on: 8/3/2020 07:48:12 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 30pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 4.4</b></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">SOUTH STATE DEFERRED INCOME PLAN</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">AMENDED AND RESTATED AS OF ________ ___, 2020</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">(A Plan of Nonqualified Deferred Compensation)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;text-decoration:underline;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">TABLE OF CONTENTS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE I INTRODUCTION</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">1</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">1.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Name. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">1</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">1.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Purpose. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">1</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">1.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Interpretation. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">1</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE II DEFINITIONS</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">2</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Generally. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Account. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Annual</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Forms</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Balance. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.5.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Bank. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.6.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Bank Merger. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.7.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Board of Directors or Board</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr style="height:12.15pt;"><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.8.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Cause. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.9.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Change in Control. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.10.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Claimant. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.11.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Code</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> or I.R.C. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.12.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Compensation</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.13.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Compensation Committee</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.14.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Company Stock Fund</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.15.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Contributions</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.16.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Deemed</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Earnings. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.17.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Deemed</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Crediting Options. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.18.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Deemed</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Crediting Option Election Form. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.19.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Deferral</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Election Form. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.20.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Delayed</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Distribution Date. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.21.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Designated</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Beneficiary. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.22.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Designated Beneficiary Form</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.23.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Disability</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.24.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Discretionary</font><font style="font-size:12pt;text-decoration-color:#ffffff;"> Contribution. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.25.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Distribution Election Form</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.26.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Effective Date. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.27.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Eligible Employee</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.28.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Employee</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.29.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Employer</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.30.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">ERISA</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.31.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">In-Service Distributions</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.32.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Leave of Absence</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.33.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Matching Contribution</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.34.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Matching Contribution Account</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.35.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Original Distribution Date</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">i</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.36.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Participant</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.37.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Participant Deferral</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.38.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Participant Deferral Account</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.39.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Performance-Based Compensation</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.40.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Performance-Based Restricted Stock Units or PRSUs. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.41.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Plan Administration Committee</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.42.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Plan Year</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.43.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Pre-Merger or Post-Merger Account. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.44.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Retirement</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.45.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">RSUs</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.46.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Separation from Service</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.47.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">South State Bank Predecessor</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.48.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Specified Employee</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.49.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Stock Incentive Plan. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.50.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Stock Unit. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.51.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Subsequent Election</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.52.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Time-Based Restricted Stock Units or TRSUs. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.53.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">TRSU or PRSU Account</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.54.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Unforeseeable Emergency</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.55.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Valuation Date</font><font style="font-size:12pt;text-decoration-color:#ffffff;">. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.56.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Vesting Date. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">2.57.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Year of Service. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE III ELIGIBILITY &amp; PARTICIPATION</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">9</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Eligibility Requirements. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">3.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Participation. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE IV ELECTIONS, DEFERRALS &amp;MATCHING CONTRIBUTIONS</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">9</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Participant Election to Defer Compensation. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">New Participants. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Irrevocable Elections. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Matching Contributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4.5.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Discretionary Contributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">11</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">4.6.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Deferral of Restricted Stock Units. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">11</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE V ACCOUNTS &amp; ACCOUNT CREDITING</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">12</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Establishment of a Participant&#8217;s Account. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">12</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Deemed Crediting Options. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">13</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Allocation of Account Among Deemed Crediting Options. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">14</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Valuation and Risk of Decrease in Value. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">15</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">5.5.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Limited Function of Compensation Committee and Plan Administration Committee. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">15</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE VI VESTING</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">15</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Vesting of Participant Deferrals. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">15</font></p></td></tr></table></div></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">ii</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Vesting of Matching Contributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">15</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Vesting of Discretionary Contributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">16</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">6.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Forfeitures. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">17</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE VII DISTRIBUTIONS</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">17</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Distributions Generally. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">17</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Automatic Distributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">17</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Elective Distributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">18</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Timing and Method of Payment for Elective Distributions. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">19</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.5.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Distributions to a Specified Employee. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">20</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.6.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Distributions Resulting from Unforeseeable Emergency. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">20</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">7.7.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Distributions of Small Accounts. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">21</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE VIII ADMINISTRATION &amp; CLAIMS PROCEDURE</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">21</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Duties of the Bank and the Company. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">21</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">The Plan Administration Committee. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">21</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Plan Administration Committee&#8217;s Powers and Duties to Enforce Plan. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">21</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Organization of the Plan Administration Committee. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">22</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.5.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Limitation of Liability. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">22</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.6.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Reliance on Records and Reports. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">23</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.7.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Costs of the Plan. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">23</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.8.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Claims Procedure. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">23</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">8.9.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Litigation. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">24</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE IX AMENDMENT, TERMINATION &amp;REORGANIZATION</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">24</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Amendment. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">24</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Amendment Required By Law. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">24</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Termination. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">24</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">9.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Consolidation/Merger. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">24</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:94.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE X GENERAL PROVISIONS</b></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">25</b></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration:underline;text-decoration-color:#ffffff;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.1.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Applicable Law. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">25</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.2.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Benefits Not Transferable or Assignable. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">25</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.3.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Not an Employment Contract. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">26</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.4.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Notices. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">26</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.5.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Severability. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">26</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.6.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Participant is General Creditor with No Rights to Assets. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">27</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.7.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">No Trust Relationship Created. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">27</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.8.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Limitations on Liability of the Employer. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">28</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.9.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Agreement Between Employer and Participant Only. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">28</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.10.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Independence of Benefits. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">28</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.11.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Unclaimed Property</font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">28</font></p></td></tr><tr><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">10.12.</font></p></td><td style="vertical-align:top;width:88.34%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">Required Tax Withholding and Reporting. </font></p></td><td style="vertical-align:top;width:5.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;text-decoration-color:#ffffff;">28</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">iii</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">PREAMBLE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, the South State Deferred Income Plan (as amended, the &#8220;Plan&#8221;) was originally adopted effective January 1, 2004, and was amended in 2005, 2010, 2018 and effective as of the effective time (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">SSB/CSFL Merger Effective Date</u><font style="font-size:12pt;">&#8221;) of the merger (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">SSB/CSFL Merger</u><font style="font-size:12pt;">&#8221;) of CenterState Bank Corporation (&#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">CenterState</u><font style="font-size:12pt;">&#8221;) with and into South State Corporation, a South Carolina Corporation (together with its corporate successors and assigns, the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Company</u><font style="font-size:12pt;">&#8221;) on June 7, 2020; and</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, following the completion of the SSB/CSFL Merger, South State Bank Predecessor (as defined in Article II) merged (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Bank Merger</u><font style="font-size:12pt;">&#8221;) with and into CenterState Bank, N.A. (&#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">CenterState Bank</u><font style="font-size:12pt;">&#8221;), a national banking association and wholly-owned bank subsidiary of CenterState, with CenterState Bank as the surviving bank, and the surviving bank adopted the name South State Bank, National Association (together with its corporate successors and assigns, the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Bank</u><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, the Bank reserved the right pursuant to Section 9.1 of the Plan to amend the Plan by resolution of the Bank to the extent permitted under the Code or ERISA; and</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, it is it is in the best interest of the Bank to amend and revise the Plan to enhance certain provisions for the Plan Participants and to provide for the Company to also be a sponsor of the Plan;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">NOW, THEREFORE</b><font style="font-size:12pt;">, the Bank and the Company hereby further amend and restate the Plan, effective as of [____________] (the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Effective Date</u><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE I</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">INTRODUCTION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">1.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Name</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The name of the Plan is the South State Deferred Income Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">1.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Purpose</b><font style="font-size:12pt;">. &#160;The purpose of the Plan is to offer Participants the opportunity to voluntarily defer current Compensation for retirement income and other significant future financial needs for themselves, their families and other dependents, and to provide the Employer, if appropriate, a vehicle to address limitations on its contributions under any tax-qualified defined contribution plan. The Plan is intended to be a nonqualified &#8220;top-hat&#8221; plan; that is, an unfunded plan of deferred compensation maintained for a select group of management or highly compensated employees pursuant to Sections 201(2), 301(a)(3), and 401(a)(l) of ERISA, and an unfunded plan of deferred compensation under the Code.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">1.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Interpretation</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Throughout the Plan, certain words and phrases have meanings, which are specifically defined for purposes of the Plan. These words and phrases can be identified in that the first letter of the word or words in the phrase is capitalized. The definitions of these words and phrases are set forth in Article II and elsewhere in the Plan document. Wherever appropriate, pronouns of any gender shall be deemed synonymous, as shall singular and plural pronouns. Headings of Articles, Sections and paragraphs are for convenience or reference only, and are not to be considered in the construction or interpretation of the Plan. The Plan shall be interpreted and administered to give effect to its purpose in Section 1.2 and to</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">1</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">qualify as a nonqualified, unfunded plan of deferred compensation. The Plan is intended to comply in form and operation with the requirements of Section 409A of the Code and shall be construed and administered accordingly at all times. &#160;Any written agreement, direction, instruction, other similar writing or other material that is to be prescribed, delivered or filed pursuant to this Plan may be in electronic form. &#160;The words &#8220;include,&#8221; &#8220;includes&#8221; and &#8220;including&#8221; shall be deemed to be followed by the phrase &#8220;without limitation.&#8221;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE II</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">DEFINITIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Generally</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Certain words and phrases are defined when first used in later paragraphs of the Plan. Unless the context clearly indicates otherwise, the following words and phrases when used in the Plan shall have the following respective meanings:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Account</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Account&#8221; shall mean the interest of a Participant in the Plan as represented by the bookkeeping entries kept by the Employer for each Participant. Each Participant&#8217;s interest may be divided into one or more separate accounts or sub-accounts, including the Participant Deferral Account and the Matching Contribution Account, and may be bifurcated into one or more sub-accounts, including for any Pre-Merger Account and any Post-Merger Account interest, all of which reflect not only the Contributions into the Plan, but also gains and losses, and income and expenses allocated thereto, as well as distributions or any other withdrawals. The value of these accounts or sub-accounts shall be determined as of an applicable Valuation Date. The existence of an account, sub-account or bookkeeping entries for a Participant (or his Designated Beneficiary) does not create, suggest or imply that a Participant, Designated Beneficiary, or other person claiming through them under the Plan, has a beneficial interest in any asset of the Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Annual</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Forms</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Annual Forms&#8221; shall mean the Deferral Election Form and Distribution Election Form.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Balance</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Balance&#8221; shall mean the total of Contributions and Deemed Earnings credited to a Participant&#8217;s Account under Article V, as adjusted for distributions or other withdrawals in accordance with the terms of the Plan and the standard bookkeeping rules established by the Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.5.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Bank</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Bank&#8221; shall have the meaning set forth in the Preamble.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.6.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Bank Merger</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Bank Merger&#8221; shall have the meaning set forth in the Preamble.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.7.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Board of Directors or Board</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Board of Directors&#8221; or &#8220;Board&#8221; shall mean the Board of Directors of the Company.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.8.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Cause</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Cause&#8221; means termination of employment for gross misconduct or gross negligence such as acts or omissions constituting dishonesty, intentional breach of fiduciary obligation or intentional wrongdoing, in each case resulting in substantial harm to the business or property, or conviction of a criminal violation involving fraud or dishonesty.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">2</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.9.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Change in Control</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Change in Control&#8221; shall mean a change in the ownership or effective control of the Employer, or in the ownership of a substantial portion of the assets of the Employer, as provided in and interpreted and applied in accordance with the Treasury Regulations issued pursuant to Section 409A of the I.R.C.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.10.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Claimant</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Claimant&#8221; shall mean a Participant, Designated Beneficiary or any person who believes that he is being denied a benefit to which he is entitled under the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.11.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Code</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> or I.R.C.</b><font style="font-size:12pt;"> &#160;&#8220;Code&#8221; or &#8220;I.R.C.&#8221; shall mean the Internal Revenue Code of 1986 as amended, and the Treasury Regulations thereto, as amended from time to time.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.12.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Compensation</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Compensation&#8221; shall mean the base or regular cash salary payable to an Employee by the Employer, as well as cash incentives or bonuses payable to an Employee by the Employer, and cash commissions payable to an Employee by the Employer, including any such amounts which are not includible in the Participant&#8217;s gross income under Sections 125, 401(k), 402(h) or 403(b) of the I.R.C., and, if and to the extent permitted by the Compensation Committee, RSUs.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.13.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Compensation Committee</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;">&#8220;Compensation Committee&#8221; shall mean the compensation committee of the Board of Directors of the Company.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.14.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Company Stock Fund</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;">&#8220;Company Stock Fund&#8221; shall mean a Deemed Crediting Option, if approved by the Compensation Committee, consisting of Common Stock, par value $2.50 per share (&#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Company Stock</u><font style="font-size:12pt;">&#8221;), of the Company and administered in accordance with such rules regarding reinvestment of dividends and treatment of fractional shares as set forth in this Plan or as the Compensation Committee shall otherwise approve.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.15.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Contributions</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Contributions&#8221; shall mean the total of Participant Deferrals, Discretionary Contributions and Matching Contributions pursuant to Article IV.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.16.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Deemed</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Earnings</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Deemed Earnings&#8221; shall mean the gains and losses (realized and unrealized), and income and expenses credited or debited to Contributions based upon the Deemed Crediting Options in a Participant&#8217;s Account as of any Valuation Date.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.17.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Deemed</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Crediting Options</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Deemed Crediting Options&#8221; shall mean the options made available to Plan Participants by the Employer for the purposes of determining the proper crediting of gains and losses, and income and expenses to each Participant&#8217;s Account, subject to procedures and requirements established by the Plan Administration Committee. A Participant may reallocate his Account among such Deemed Crediting Options periodically at such frequency and upon such terms as the Plan Administration Committee may determine from time to time, in accordance with the terms of this Plan. &#160;Notwithstanding the foregoing or anything to the contrary in this Plan, if the Compensation Committee establishes a Deemed Crediting Option under which all or a portion of the amounts credited to a Participant&#8217;s Account may be deemed to be invested in a Company Stock Fund, (a) the Compensation Committee may (i) limit the Participants (including by specifying a group or class of Participants) that are permitted to have all or a portion of their Account deemed to be invested in a Company Stock Fund, and (ii) limit the amount or portion of an Account that a Participant (or group or class of Participants) may elect to allocate or re-allocate to a deemed investment in a Company Stock</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">3</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Fund with respect to a Participant&#8217;s Account, and (b) any amounts that are, or portion of an Account that is, deemed to be invested in a Company Stock Fund must remain deemed to be invested in the Company Stock Fund.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.18.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Deemed</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Crediting Option Election Form</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Deemed Crediting Option Election Form&#8221; shall mean a written agreement or instruction of a Participant in which the Deemed Crediting Option(s) are elected. A Deemed Crediting Option Election Form shall be in such form or forms as may be prescribed by the Plan Administration Committee, and shall be filed with the Employer according to procedures and at such times as established by the Plan Administration Committee. A Deemed Crediting Option Election Form with respect to Contributions credited to a Participant&#8217;s Account on or after the deemed effective date of such form is referred to as a &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Deferral Crediting Option Election Form</u><font style="font-size:12pt;">.&#8221; A Deemed Crediting Option Election Form with respect to a reallocation of existing amounts credited to a Participant&#8217;s Account is referred to as a &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Crediting Option Transfer Form</u><font style="font-size:12pt;">.&#8221;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.19.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Deferral</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Election Form</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Deferral Election Form&#8221; shall mean the written agreement or instruction of a Participant. The Deferral Election Form shall be in such form or forms as may be prescribed by the Plan Administration Committee, filed annually (or otherwise, to the extent permitted by this Plan) with the Employer, according to procedures and at such times as established by the Plan Administration Committee. Among other information the Plan Administration Committee may require of the Participant for proper administration of the Plan, such agreement shall establish the Participant&#8217;s election to defer Compensation for a Plan Year under the Plan and the amount of the deferral into the Plan for the Plan Year. Subject to Compensation Committee approval and permission under Sections 2.11 and 4.6(a) herein, Deferral Election Forms with respect to RSUs may be filed with the Employer, according to procedures and at such times as established by the Plan Administration Committee, in accordance with Section 4.6; and among other information the Plan Administration Committee may require of the Participant for proper administration of the Plan, such agreement shall establish the Participant&#8217;s election to defer any such RSUs under the Plan and the amount of the such deferral into the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.20.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Delayed</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Distribution Date</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Delayed Distribution Date&#8221; shall mean six (6) months and one (1) day following the distribution date otherwise specified under the Plan and set out in the Distribution Election Form, which is the Original Distribution Date.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.21.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Designated</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Beneficiary</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Designated Beneficiary&#8221; or &#8220;Beneficiary&#8221; shall mean the person, persons or trust specifically named to be a direct or contingent recipient of all or a portion of a Participant&#8217;s benefits under the Plan in the event of the Participant&#8217;s death prior to the distribution of his full Account Balance. Such designation of a recipient or recipients may be made and amended, at the Participant&#8217;s discretion, on the Designated Beneficiary Form and according to procedures established by the Plan Administration Committee. No beneficiary designation or change of Beneficiary shall become effective until received and acknowledged by the Employer. In the event a Participant does not have a beneficiary properly designated, or if the Employer cannot after reasonable effort locate the Designated Beneficiary, the beneficiary under the Plan shall be the Participant&#8217;s estate.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">4</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.22.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Designated Beneficiary Form</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Designated Beneficiary Form&#8221; shall mean the written agreement or instruction of a Participant in which the Participant elects the Designated Beneficiary. The Designated Beneficiary Form shall be in such form or forms as may be prescribed by the Plan Administration Committee, and filed with the Employer, according to procedures and at such times as established by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.23.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Disability</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Disability&#8221; shall mean that a Participant (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Participant&#8217;s Employer, or as otherwise defined by the Treasury Regulations issued pursuant to Section 409A of the I.R.C.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.24.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Discretionary</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;"> Contribution</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Discretionary Contribution&#8221; shall mean an amount credited to a Participant&#8217;s Account in accordance with Section 4.5.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.25.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Distribution Election Form</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Distribution Election Form&#8221; shall mean the written agreement or instruction of a Participant in which the Participant elects the manner in which distributions will be made from the Account. The Distribution Election Form shall be in such form or forms as may be prescribed by the Plan Administration Committee, filed annually (or otherwise, to the extent permitted by this Plan) with the Employer, according to procedures and at such times as established by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.26.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Effective Date</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Effective Date&#8221; of this amended and restated Plan shall have the meaning set forth in the Preamble.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.27.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Eligible Employee</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Eligible Employee&#8221; shall mean a person who (a) is (1) an Employee of the Employer; (2) subject to United States income tax laws; and (3) a member of a select group of management or a highly compensated employee of the Employer, and (b) is specified (including by specifying a group or class of Employees) by the Plan Administration Committee; provided that &#8220;Eligible Employee&#8221; includes any &#8220;officer&#8221; (as defined in Rule 16a-1 promulgated under the Securities Exchange Act of 1934, as amended (or any rule subsequently adopted to amend or replace the definition of such term)) with respect to the Company who is (i) an Employee of the Employer and (2) subject to United States income tax laws, unless the Compensation Committee determines that such officer shall not be deemed to be an Eligible Employee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.28.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Employee</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Employee&#8221; shall mean a full time common law employee of the Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.29.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Employer</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Employer&#8221; shall mean the Bank and any corporate successors and assigns, and its divisions, subsidiaries, and other entities (including the Company) that would be treated as part of a controlled group of organizations or under common control as those terms are defined for purposes of I.R.C. Section 414(b&amp;c), unless otherwise provided herein.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">5</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.30.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">ERISA</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;ERISA&#8221; shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.31.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">In-Service Distributions</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;In-Service Distributions&#8221; shall mean a distribution to a Participant prior to a Separation from Service.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.32.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Leave of Absence</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Leave of Absence&#8221; shall mean a period of time during which time a Participant shall not be an active Employee of the Employer, but the employment relationship is treated as continuing intact while the individual is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months, or if longer, so long as the individual retains a right to re-employment with the service recipient under an applicable statute or by contract. If the period of leave exceeds six (6) months and the individual does not retain a right to re-employment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six (6) month period. A leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Employee will return to perform services for the Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.33.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Matching Contribution</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Matching Contribution&#8221; shall mean an amount credited to a Participant&#8217;s Account in accordance with Section 4.4.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.34.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Matching Contribution Account</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Matching Contribution Account&#8221; shall mean that portion of a Participant&#8217;s Account established to record Matching Contributions on behalf of a Participant.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.35.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Original Distribution Date</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Original Distribution Date&#8221; shall mean the date of distribution as provided for under the Plan and as set out in a Distribution Election Form.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.36.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Participant</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Participant&#8221; shall mean an Eligible Employee who participates in the Plan under Article III; a former Eligible Employee who has participated in the Plan and continues to be entitled to a benefit (in the form of an undistributed Account Balance) under the Plan, and any former Eligible Employee who has participated in the Plan under Article III and has not yet exceeded any Leave of Absence.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.37.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Participant Deferral</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Participant Deferral&#8221; shall mean voluntary Participant deferral amounts, which could have been received currently but for the election to defer and are credited to an Account for later distribution, subject to the terms of the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.38.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Participant Deferral Account</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Participant Deferral Account&#8221; shall mean that portion of a Participant&#8217;s Account established to record Participant Deferrals on behalf of a Participant.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.39.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Performance-Based Compensation</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Performance-Based Compensation&#8221; shall mean compensation that is (i) variable and contingent on the satisfaction of pre-established organizational or individual performance criteria; (ii) not readily ascertainable at the time; and (iii) based on services performed over a period of at least twelve (12) months, and qualifies as performance-based compensation within the meaning of Treasury Regulation Section 1.409A-1(e).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">6</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.40.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Performance-Based Restricted Stock Units or PRSUs.</b><font style="font-size:12pt;"> &#160;&#8220;Performance-Based Restricted Stock Units&#8221; or &#8220;PRSUs&#8221; shall mean RSUs that have specific performance criteria that must be met in order to vest and qualify as Performance-Based Compensation. Any RSUs that do not qualify as Performance-Based Compensation shall be deemed to be TRSUs for purposes of this Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.41.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Plan Administration Committee</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Plan Administration Committee&#8221; shall have the meaning set forth in Section 8.2</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.42.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Plan Year</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Plan Year&#8221; shall mean the twelve (12) consecutive month period constituting a calendar year, beginning on January 1 and ending on December 31. However, in any partial year of the Plan that does not begin on January 1, &#8220;Plan Year&#8221; shall also mean the remaining partial year ending on December 31. If the Plan is terminated, such Plan Year shall begin on January 1 and end on the date of termination.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.43.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Pre-Merger or Post-Merger Account</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Post-Merger Account&#8221; shall mean that portion of a Participant&#8217;s Account established to record Participant Deferrals, Discretionary Contributions and Matching Contributions on behalf of a Participant, and Deemed Earnings in respect thereof, after the effective time of a merger or similar transaction, if and as deemed by the Plan Administration Committee to be necessary or desirable in connection with the administration and maintenance of the Plan. &#160;&#8220;Pre-Merger Account&#8221; shall mean that portion of a Participant&#8217;s Account established to record Participant Deferrals, Discretionary Contributions and Matching Contributions on behalf of a Participant prior the effective time of a merger or similar transaction, if and as deemed by the Plan Administration Committee to be necessary or desirable in connection with the administration and maintenance of the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.44.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Retirement</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">With respect to any and all amounts credited to any Participant&#8217;s Account </font><font style="font-size:12pt;">related to the 2020 Plan Year or any earlier Plan Year (including any bonuses payable in 2021 in respect of service in 2020) and any SSB/CSFL Merger-Related Discretionary Contributions with respect to which the definition of &#8220;Retirement&#8221; under the Plan is applicable</font><font style="font-size:12pt;">, &#8220;Retirement&#8221; shall mean a Participant&#8217;s actual Separation from Service from the Employer having attained age sixty-five (65). &#160;With respect to any and all other amounts credited to any Participant&#8217;s Account, &#8220;Retirement&#8221; shall mean a Participant&#8217;s actual Separation from Service from the Employer after the later of ten (10) Years of Service and attainment of age fifty-five (55).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.45.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">RSUs</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> &#8220;RSUs&#8221; shall mean awards of restricted stock units and deferred share rights, granted under a Stock Incentive Plan, which are denominated in shares of Company Stock and that are to be settled, subject to the terms and conditions of the applicable RSU award agreement and Stock Incentive Plan, in an amount in shares of Company Stock, cash or a combination of both, based upon a specified number of shares of Company Stock or the fair market value thereof (such amount, expressed by reference to the applicable number of specified shares of Company Stock, &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">RSU Shares</u><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.46.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Separation from Service</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Separation from Service&#8221; shall mean a Participant&#8217;s separation from service as an Employee, other than for death or Disability. A transfer of</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">7</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">employment within and among the Employer and any member of a controlled group, as provided in Section 409A (d)(6) of the I.R.C., shall be deemed not to be a Separation from Service.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.47.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">South State Bank Predecessor</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;">&#8220;South State Bank Predecessor&#8221; shall mean, prior to the Bank Merger, South State Bank, a South Carolina state-chartered bank.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.48.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Specified Employee</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Specified Employee&#8221; shall mean any Participant who is a key employee (as defined in Section 416(i) of the I.R.C., without regard to section 416(i)(5) of the I.R.C.). The identification date for determining a &#8220;Specified Employee&#8221; shall be December 31 annually.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.49.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Stock Incentive Plan.</b><font style="font-size:12pt;"> &#160;&#8220;Stock Incentive Plan&#8221; shall mean the South State Corporation 2019 Omnibus Incentive Plan, as amended from time to time, or any other equity incentive plan of the Company pursuant to which TRSUs or PRSUs may be awarded to Participants.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.50.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Stock Unit.</b><font style="font-size:12pt;"> &#160;&#8220;Stock Unit&#8221; shall mean the bookkeeping measure used by the Company to measure a deemed investment in a share of Company Stock in a Participant&#8217;s Account (including with respect to TRSUs, PRSUs and any Company Stock Fund).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.51.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Subsequent Election</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Subsequent Election is an election as defined in Section 7.4(e).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.52.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Time-Based Restricted Stock Units or TRSUs.</b><font style="font-size:12pt;"> &#160;&#8220;Time-Based Restricted Stock Units&#8221; or &#8220;TRSUs&#8221; shall mean RSUs that are not &#160;PRSUs.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.53.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">TRSU or PRSU Account</b><font style="font-size:12pt;">. &#160;&#8220;TRSU or PRSU Account&#8221; shall mean the Account (including any sub-account(s) thereof) of a Participant with respect to which the Participant&#8217;s deferral of the receipt of RSU Shares pursuant to TRSUs or PRSUs have been credited pursuant to Sections 4.6(b) or 4.6(c), and Deemed Earnings with respect thereto.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.54.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Unforeseeable Emergency</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Unforeseeable Emergency&#8221; shall mean a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant&#8217;s spouse, or a dependent (as defined in Section 152 of the I.R.C., without regard to Sections 152(b)(1), (b)(2) and (d)(1)(B)) of the Participant, loss of the Participant&#8217;s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. Unforeseeable Emergency is limited to those types of situations contemplated by the Treasury Regulations issued pursuant to Section 409A of the I.R.C.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.55.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Valuation Date</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;Valuation Date&#8221; shall mean such date or dates, but not less than once per year as of the last day of the Plan Year, as established and amended from time to time by guidelines and procedures of the Plan Administration Committee in accordance with the terms and conditions of this Plan and otherwise in its sole and exclusive discretion .</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.56.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Vesting Date. </b><font style="font-size:12pt;"> &#8220;Vesting Date&#8221; shall mean the date or dates on which RSUs vest, which may be conditioned upon the continued service of the applicable Eligible Employee, the</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">8</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">attainment of performance criteria or the attainment of performance criteria and the continued service of the applicable Eligible Employee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">2.57.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Year of Service</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> &#8220;Year of Service&#8221; shall mean a calendar year during which a Participant performs at least one thousand (1,000) hours of service for the Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE III</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">ELIGIBILITY &amp; PARTICIPATION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">3.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Eligibility Requirements</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Only an Eligible Employee may become a Participant in the Plan and be eligible to make Participant Deferrals and to receive Matching Contributions, if any, and Employer Contributions, if any. For the avoidance of doubt, an Eligible Employee shall also become a Participant, with respect to a Discretionary Contribution, if the Employer credits a Discretionary Contribution to an Account with respect to such Eligible Employee. The Plan Administration Committee shall notify an Eligible Employee of his eligibility for a Plan Year in such form as it may determine most appropriate. Unless so notified each year for the succeeding year, a Participant shall not remain eligible.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">3.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Participation</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> An Eligible Employee shall become a Participant commencing as of the beginning of the next Plan Year upon meeting the following criteria:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(1)</font><font style="display:inline-block;width:22.01pt;"></font><font style="font-size:12pt;">Becoming an Eligible Employee and receiving notice of such status as provided in Section 3.1.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(2)</font><font style="display:inline-block;width:22.01pt;"></font><font style="font-size:12pt;">Completing the Annual Forms and timely filing such forms with, and subsequent acceptance by, the Employer, according to the terms and conditions established by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE IV</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">ELECTIONS, DEFERRALS &amp;MATCHING CONTRIBUTIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">4.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Participant Election to Defer Compensation</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">If a Participant has not recently become eligible to participate in the Plan, prior to December 31 or an earlier date set by the Plan Administration Committee, a Participant may elect to defer Compensation for services to be performed in the next following Plan Year by the execution and timely filing, and Employer&#8217;s acceptance of, the Annual Forms, according to such procedures as the Plan Administration Committee may prescribe from time to time. If a Participant has recently become eligible to participate in the Plan, Section 4.2 addresses the time for filing and effective time of the Annual Forms. Each such Annual Form shall be effective for the Plan Year to which the form pertains. To cover a situation in which the Participant dies while he is a Participant in the Plan, a Participant should file a Designated Beneficiary Form as soon as possible.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">Each Participant may elect annually to have his Compensation for the upcoming Plan Year reduced by a whole percentage that is not less than five percent (5%), and</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">9</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">up to eighty percent (80%), or by a specific dollar amount (in all cases, subject to a minimum value established by the Plan Administration Committee) by timely filing, and the acceptance by the Employer of, his Annual Forms detailing such deferral. The amount of this Participant Deferral shall be deferred into the Plan and credited to the Participant&#8217;s Account as provided in Article V.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><font style="font-size:12pt;">An election to defer Performance-Based Compensation may be made at such time and in such manner as the Plan Administration Committee may specify, but in any event the Deferral Election Form and the Distribution Election Form with respect to such Performance-Based Compensation must be filed on or before the date that is six (6) months before the end of the applicable performance period and otherwise in accordance with the applicable provisions of Section 409A of the I.RC.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(d)</font></font><font style="font-size:12pt;">Under the Annual Forms, a Participant shall indicate the amount of such Participant Deferral and designate and allocate such Participant Deferral in or among the elective distribution Account option(s).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(e)</font></font><font style="font-size:12pt;">Pursuant to transition rules provided by Treasury regulations issued pursuant to Section 409A of the I.R.C., prior to December 31, 2008, or such earlier date as the Plan Administration Committee may have determined, a Participant may have elected to change a prior election as to time or form of payment by filing &#8220;transition&#8221; Distribution Election Forms with the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">4.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">New Participants</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The initial Annual Forms of a new Participant with respect to Compensation shall be filed with the Employer on a date established by the Plan Administration Committee, but in any event not later than thirty (30) days following the date the Participant becomes eligible to participate in the Plan and such elections within the Annual Forms only apply and are effective with respect to services to be performed subsequent to the elections. Such initial Annual Forms shall be applicable to a Participant&#8217;s Compensation beginning with the first payroll in the month after such Form is filed and accepted by the Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">4.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Irrevocable Elections</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> An election in a Deferral Election Form, once made by a Participant, shall be irrevocable (subject to Section 4.6(c), with respect to PRSUs). The Plan Administration Committee, however, (a) shall cancel Participant Deferrals upon granting a Participant&#8217;s request for a distribution based upon an Unforeseeable Emergency, or as required by Treasury Regulation Section 1.401(k)-1(d)(3), and (b) may permit a Participant to revoke a Deferral Election Form with respect to Performance-Based Compensation no later than six (6) months before the end of the applicable performance period, in each case to the extent such action satisfies the requirements of Section 409A and applicable law (and subject to Section 4.6(c), with respect to PRSUs).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">4.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Matching Contributions</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Employer may, but shall not be required to, provide a deemed match, in such amounts as it may determine from time to time, for Participant Deferrals. Such Matching Contributions, if any, shall be credited to the Matching Contribution Account of the Participant&#8217;s Account and shall be subject to the vesting requirements set forth in Section 6.2.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">10</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">4.5.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Discretionary Contributions</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Employer may, but shall not be required to, provide an employer discretionary contribution, in such amounts as it may determine from time to time, for any Participant or all Participants. The amount of the contribution is completely discretionary, and the Employer may treat different Participants differently, i.e. the Employer is not under any duty to provide the same amount of contribution, if any, to any Participant. Such Discretionary Contributions, if any, shall be credited to the Discretionary Contribution Account of the Participant&#8217;s Account and shall be subject to the vesting requirements set forth in Section 6.3</font><font style="font-size:12pt;">. &#160;For the avoidance of doubt, an amount credited to a Participant&#8217;s Account pursuant to a non-elective arrangement, as provided in Treasury Regulation 1.409A-2(a)(2), shall be deemed to be a Discretionary Contribution.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">4.6.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Deferral of Restricted Stock Units</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Eligibility</u><font style="font-size:12pt;">. The Compensation Committee (and only the Compensation Committee) may determine which Eligible Employees (which may be a group or class of Participants), if any, shall be eligible to elect to defer the receipt of RSU Shares resulting from awards of RSUs. The Compensation Committee may make such determination by establishing a minimum compensation level or job title for participation or by the use of such other criteria as deemed appropriate from time to time, and the Compensation Committee may establish limitations with respect to the deferral of the receipt of RSU Shares resulting from awards of RSUs. &#160;Unless otherwise provided by the Compensation Committee, only the receipt of RSU Shares resulting from awards of RSUs that are not subject to Section 409A of the Code (i.e., RSUs that are not considered &#8220;nonqualified deferred compensation&#8221; subject to Section 409A of the Code) may be eligible for deferral pursuant to the Plan. &#160;Any deferral pursuant to the Plan of the receipt of RSU Shares resulting from awards of RSUs that are subject to Section 409A of the Code (i.e., RSUs that are considered &#8220;nonqualified deferred compensation&#8221; subject to Section 409A of the Code) may only be made in compliance with the requirements of Section 409A of the Code. &#160;Unless otherwise determined by the Compensation Committee, any election made by a Participant to defer the receipt of RSU Shares resulting from an award of RSUs shall apply to 50% or 100% of the RSU Shares resulting from such award (net of any RSU Shares withheld in respect of applicable tax withholding obligations related to vesting).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Deferral Election of TRSUs</u><font style="font-size:12pt;">. An Eligible Employee who is eligible to elect to defer the receipt of RSU Shares resulting from awards of TRSUs in accordance with Section 4.6(a) may make an election to defer the receipt of RSU Shares resulting from awards of TRSUs by the execution and timely filing, and Employer&#8217;s acceptance of, an applicable Deferral Election Form at such time or times as may be established by the Plan Administration Committee and in accordance with the applicable provisions of Section 409A of the Code. On the Vesting Date for validly deferred TRSUs, the Participant&#8217;s TRSU Account will be credited with a number of Stock Units equal to the number of RSU Shares subject to the TRSUs with respect to which the deferral election was made that were payable absent the deferral election (net of any RSU Shares withheld in respect of applicable tax withholding obligations related to vesting). Any deferral election under this Section 4.6(b) shall be made on an applicable Deferral Election Form, and according to such procedures, as the Plan Administration Committee may prescribe from time to time.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">11</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Deferral Election of PRSUs</u><font style="font-size:12pt;">. An Eligible Employee who is eligible to elect to defer the receipt of RSU Shares resulting from awards of PRSUs in accordance with Section 4.6(a) may make an election to defer the receipt of RSU Shares resulting from awards of PRSUs by the execution and timely filing, and Employer&#8217;s acceptance of, an applicable Deferral Election Form at such time or times as may be established by the Plan Administration Committee and in accordance with the applicable provisions of Section 409A of the Code. If permitted by applicable law, Section 409A of the Code and the Compensation Committee, an Eligible Employee may modify the Participant&#8217;s deferral election for PRSUs up to six (6) months before the end of the performance period with respect to which the PRSUs relate. &#160;On the Vesting Date for validly deferred PRSUs, the Participant&#8217;s PRSU Account will be credited with a number of Stock Units equal to the number of RSU Shares subject to the PRSUs with respect to which the deferral election was made that were payable absent the deferral election (net of any RSU Shares withheld in respect of applicable tax withholding obligations related to vesting). &#160;Any deferral election under this Section 4.6(c) shall be made on an applicable Deferral Election Form, and according to such procedures, as the Plan Administration Committee may prescribe from time to time.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(d)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Payment of the RSU Account</u><font style="font-size:12pt;">. At the time an Eligible Employee elects to make the deferrals under Section 4.6(b) or Section 4.6(c), the Eligible Employee shall also elect, on an applicable Distribution Election Form, and according to such procedures, as the Plan Administration Committee may prescribe from time to time, the time and manner of payment with respect to such deferrals, which payment elections under this Section 4.6(d) shall be made in accordance with the provisions of Article VII. An Eligible Employee&#8217;s rights to change his payment election, if any, shall be determined in accordance with Article VII. &#160;The form of payment pursuant to a distribution with respect to a TRSU or PRSU Account shall be shares of Company Stock (except that any deemed investment in fractional shares of Company Stock shall be distributed in cash), and amounts credited to a TRSU or PRSU Account may not be reallocated to a different Deemed Crediting Option.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE V</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">ACCOUNTS &amp; ACCOUNT CREDITING</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">5.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Establishment of a Participant&#8217;s Account</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Bookkeeping Account</u><font style="font-size:12pt;">. The Plan Administration Committee shall cause a deemed bookkeeping Account and appropriate bifurcated or sub-accounts, based upon the elective distribution option(s) to be established and maintained in the name of each Participant, according to his Annual Forms for the Plan Year. This Account shall reflect the amount of Participant Deferrals, Matching Contributions (if any), Discretionary Contributions (if any), and Deemed Earnings credited on behalf of each Participant under the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Bookkeeping Activity</u><font style="font-size:12pt;">. Participant Deferrals shall be credited to a Participant&#8217;s Account on the date the Plan Administration Committee designates. Matching Contributions and Discretionary Contributions shall be credited to a Participant&#8217;s Account on the date the Plan Administration Committee designates. Deemed Earnings shall be credited or debited to each Participant&#8217;s Account, as well as any distributions, and other withdrawals under the Plan, as of any applicable Valuation Date.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">12</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">5.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Deemed Crediting Options</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">The Compensation Committee, and only the Compensation Committee, may approve and designate, in advance and in its sole and exclusive discretion, the establishment of any Company Stock Fund as a Deemed Crediting Option (and any substitution, elimination or other change with respect to any Company Stock Fund), any Participants (including by specifying a group or class of Participants) that may elect to have all or any portion of an Account deemed to be invested in a Company Stock Fund, and any Participants (including by specifying a group or class of Participants eligible to make such a deferral) that may elect to defer pursuant to this Plan the receipt of RSU Shares resulting from awards of RSUs. &#160;The Compensation Committee reserves the right, in its sole and exclusive discretion, by resolution or by amendment to this Plan, to substitute, eliminate and otherwise make changes with respect to any Company Stock Fund or other Stock Units (including with respect to the crediting of Stock Units to a Participant&#8217;s Account in connection with a reallocation of all or part of a Participant&#8217;s Account to the Company Stock Fund or a dividend on shares of Company Stock), in each case subject to and in compliance with applicable listing rules of The NASDAQ Stock Market (or applicable requirements of such other stock exchange on which Company Stock may then be listed). &#160;Subject to the foregoing, the Plan Administration Committee (i) shall designate Deemed Crediting Options, among which a Participant may allocate amounts credited to his Account, which are subject to Participant direction under the Plan, and (ii) reserves the right, in its sole and exclusive discretion, to substitute, eliminate and otherwise change the designated Deemed Crediting Options, as well as the right to establish (and to make changes with respect to) rules and procedures for the selection and offering of these Deemed Crediting Options.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">If a Participant&#39;s Account (including any TRSU or PRSU Account and any deemed investment in a Company Stock Fund) has been credited with Stock Units as of a dividend record date with respect to a cash dividend on shares of Company Stock, such Participant&#8217;s Account will be credited with additional Stock Units based on the weighted average price paid for all shares of Company Stock purchased by the Trustee (and deposited in the Rabbi Trust) with such dividends. If a Participant&#39;s Account (including any TRSU or PRSU Account and any deemed investment in a Company Stock Fund) has been credited with Stock Units as of a dividend record date with respect to a dividend of Company Stock to be paid on the Company Stock, an amount determined at a per share rate equivalent to such dividend shall be credited to the Participant&#8217;s Account as of the payment date for such dividend, and such amount shall be deemed to be reinvested in the Company Stock Fund. &#160;In the event of (i) a merger, consolidation, statutory share exchange, stock rights offering, liquidation, or similar event affecting the Company or the Company Stock, or a (ii) dividend paid in a form other than cash or Company Stock, stock split, reverse stock split, reorganization, share combination or recapitalization or similar event affecting the capital structure of the Company, the Compensation Committee shall make such substitutions or adjustments to the number Stock Units, if any, credited to a Participant&#39;s Account and the shares of Company Stock, other securities or other consideration that a Participant shall receive upon a distribution from this Plan in respect of the Stock Units credited to the Participant&#39;s Account, as the Compensation Committee deems appropriate and equitable to comport with the terms of this Plan and/or to otherwise reflect the number and kind of shares of Company Stock, other securities or other consideration that holders of Company Stock would receive by reason of such event.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">13</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">5.3.</b></font><b style="font-size:12pt;font-weight:bold;">Allocation of Account Among Deemed Crediting Options.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Deemed Crediting Options for Deferrals</u><font style="font-size:12pt;">. Each Participant shall elect (subject to the terms and conditions, including any limitations and requirements, of this Plan) the manner in which ongoing or future deferrals credited to the Participant&#8217;s Account shall be divided among the Deemed Crediting Options by giving allocation instructions in a Deferral Crediting Option Election Form supplied by and filed with the Plan Administration Committee, or by such other procedure, including electronic communications, as the Plan Administration Committee may prescribe. A Participant&#8217;s election shall specify the percentage of such deferrals &#160;(in 1% increments, unless otherwise permitted by the Plan Administration Committee) to be deemed to be invested in any Deemed Crediting Option. Such election shall remain in effect until a revised Deferral Crediting Option Election Form is filed with the Plan Administration Committee and deemed effective, at which time the prior Deferral Crediting Option Election Form shall cease to apply (and the revised Deferral Crediting Option Election Form shall be effective with respect to Participant Deferrals credited to a Participant&#8217;s Account on or after such deemed effective date). &#160;Participant Deferrals of Compensation may not be initially allocated to the Company Stock Fund (if any), unless the Compensation Committee has expressly approved the Company Stock Fund as an initial Deemed Crediting Option for Participant Deferrals. &#160; Participant Deferrals credited to a Participant&#8217;s Account shall be deemed to be invested in accordance with the most recent Deferral Crediting Option Election Form in effect or as otherwise determined in accordance with the terms and conditions, including any limitations and requirements, of this Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Transfers of Account Balances to Other Deemed Crediting Options</u><font style="font-size:12pt;">. &#160;A Participant may reallocate all or a portion of the Participant&#8217;s then existing Account (subject to the terms and conditions, including any limitations and requirements, of this Plan) between or among the designated Deemed Crediting Options pursuant to (and according to percentages or other instructions specified in) a Crediting Option Transfer Form supplied by and filed with the Plan Administration Committee, or by such other procedure as the Plan Administration Committee may prescribe. &#160;Notwithstanding anything to the contrary in this Plan, any amounts that are deemed to be invested in Company Stock (including any TRSU or PRSU Account and any deemed investment in a Company Stock Fund) must remain invested therein and may not be reallocated thereafter by a Participant to a different Deemed Crediting Option. &#160;With respect to any Participant&#8217;s reallocation of all or a portion of the Participant&#8217;s then existing Account to a Company Stock Fund, if applicable, the Participant&#8217;s Account will be credited with a number of Stock Units based on the price(s) paid for all shares of Company Stock purchased by the Trustee and deposited in the Rabbi Trust in response to the Participant&#8217;s Crediting Option Transfer Form.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Ineffective Deemed Crediting Option Election Form</u><font style="font-size:12pt;">. &#160;If the Plan Administration Committee receives a Deemed Crediting Option Election Form which is unclear, incomplete or improper (as determined by the Plan Administration Committee, in its sole discretion), then such form will be deemed not to be effective (and, with respect to a Deferral Crediting Option Election Form, the Deferral Crediting Option Election Form then in effect shall remain in effect until the subsequent instruction is clarified, completed or otherwise made acceptable to the Plan Administration Committee). If a Participant fails to elect a Deemed Crediting Option or Options in an initial Deferral Crediting Option Election Form (or if a previously elected Deemed Crediting Option ceases to be a Deemed Crediting Option), the</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">14</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Participant&#39;s Account (to the extent not credited based on a then-effective Deemed Crediting Option Election Form) shall be automatically allocated into the lowest risk Deemed Crediting Option (other than the Company Stock Fund), as determined by the Plan Administration Committee, in its sole discretion. &#160;Thereafter, there shall be no obligation whatsoever on the part of the Employer, the Compensation Committee, Plan Administration Committee or any person or entity to automatically or otherwise reallocate to any other Deemed Crediting Option(s).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">5.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Valuation and Risk of Decrease in Value</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Participant&#8217;s Account will be valued on the Valuation Date at fair market value. On such date, Deemed Earnings will be allocated to each Participant&#8217;s Account. Each Participant and Designated Beneficiary assumes the risk in connection with any decrease in the fair market value of his Account.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">5.5.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Limited Function of Compensation Committee and Plan Administration Committee</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> By deferring compensation pursuant to the Plan, each Participant hereby agrees that the Employer, the Compensation Committee and Plan Administration Committee are in no way responsible for or guarantor of the investment results of the Participant&#8217;s Account. The Compensation Committee and the Plan Administration Committee shall have no duty to review, or to advise the Participant on the investment of the Participant&#8217;s Account; and in fact, shall not review or advise the Participant thereon. Furthermore, except when a Participant fails to designate a Deemed Crediting Option, the Plan Administration Committee shall have no power to direct the investment of the Participant&#8217;s Account other than promptly to carry out the Participant&#8217;</font><font style="font-size:12pt;">s deemed investment instructions when properly completed and transmitted to the Plan Administration Committee and accepted according to its rules and procedures. Neither the Compensation Committee nor the Plan Administration Committee shall be a designated, named or other fiduciary in relation to this Plan. &#160;Nothing contained in this Plan is intended to create, or may be construed as creating, any responsibility or liability of the members of any such committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE VI</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">VESTING</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">6.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Vesting of Participant Deferrals</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> A Participant shall be fully vested at all times in Participant Deferrals, as well as Deemed Earnings upon Participant Deferrals, credited to his Participant Deferral Account.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">6.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Vesting of Matching Contributions</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> A Participant shall vest in Matching Contributions, as well as Deemed Earnings upon Matching Contributions, credited to his Matching Contribution Account in accordance with the schedule established by the Plan Administration Committee with respect to the Matching Contribution Account. The Plan Administration Committee may establish, in its sole discretion, any vesting formula or schedule for any Matching Contribution that the Plan Administration Committee credits to the Participant&#8217;s Account and any such vesting formula or schedule may be different and separate for each Matching Contribution credited to the Participant. The Plan Administration Committee is under no duty or obligation to establish or specify the same vesting formula or schedule for all Participants, or to establish or specify the same vesting formula or schedule from year to year with respect to any Matching Contribution made in any Plan Year for any Participant. A vesting formula or schedule that has been specified by the Plan Administration Committee with respect</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">15</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">to an identified Matching Contribution made in a specific Plan Year of a Participant cannot be changed. For the avoidance of doubt, a Matching Contribution may be made that is fully vested upon being credited to a Participant&#8217;s Matching Contribution Account, and the Plan Administration Committee is under no duty or obligation to provide for Matching Contribution to be fully vested upon being credited to the Matching Contribution Account of all or any other Participants. &#160;Notwithstanding anything to the contrary in this Plan, Matching Contributions shall be deemed not to be invested initially in any Company Stock Fund; provided that Participants, if any, who are permitted to elect to reallocate all or a portion of their Account balance to a Company Stock Fund may subsequently reallocate all or a portion of their Matching Contribution Account to a Company Stock Fund, if any, pursuant to Section 5.3(b) and subject to the other terms and conditions, including any limitation and requirements, of this Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Notwithstanding the above, but subject to Section 6.4(c), a Participant shall become fully vested in his Matching Contribution Account upon the earlier of death, Disability, Retirement or a Change in Control. Upon Separation from Service not due to Retirement, a Participant shall be entitled to the vested portion of his Matching Contribution Account, and any non-vested portion shall be forfeited.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">6.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Vesting of Discretionary Contributions</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> A Participant shall vest in a Discretionary Contribution, as well as Deemed Earnings upon such Discretionary Contribution, credited to his Discretionary Contribution Account in accordance with the schedule established by the Plan Administration Committee with respect to the Discretionary Contribution Account. The Plan Administration Committee may establish, in its sole discretion, any vesting formula or schedule for any Discretionary Contribution that the Employer credits to the Participant&#8217;s Account and any such vesting formula or schedule may be different and separate for each Discretionary Contribution credited to the Participant. The Plan Administration Committee is under no duty or obligation to establish or specify the same vesting formula or schedule for all Participants, or to establish or specify the same vesting formula or schedule from year to year with respect to any Discretionary Contribution made in any Plan Year for any Participant. A vesting formula or schedule that has been specified by the Plan Administration Committee with respect to an identified Discretionary Contribution made in a specific Plan Year of a Participant cannot be changed. &#160;For the avoidance of doubt, a Discretionary Contribution may be made that is fully vested upon being credited to a Participant&#8217;s Discretionary &#160;Contribution Account (and any Deemed Earnings upon such a Discretionary Contribution shall be fully vested), and the Plan Administration Committee is under no duty or obligation to provide for a Discretionary Contribution to be fully vested upon being credited to the Discretionary Contribution Account of all or any other Participants. &#160;Notwithstanding anything to the contrary in this Plan, Discretionary Contributions shall be deemed not to be invested initially in any Company Stock Fund; provided that Participants, if any, who are permitted elect to reallocate all or a portion of their Account balance to a Company Stock Fund may subsequently reallocate all or a portion of their Discretionary Contribution Account to a Company Stock Fund, if any, pursuant to Section 5.3(b) and subject to the other terms and conditions, including any limitation and requirements, of this Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Notwithstanding the above, but subject to Section 6.4(c) and except as set forth in the SSB/CSFL Merger Addendum attached hereto and is part of this Plan, a Participant shall become fully vested in his Discretionary Contribution Account upon the earlier of death, Disability,</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">16</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Retirement or a Change in Control. Except as provided in the SSB/CSFL Merger Addendum, upon Separation from Service not due to Retirement, a Participant shall be entitled to the vested portion of his Discretionary Contribution Account, and any non-vested portion shall be forfeited.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">6.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Forfeitures</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">The vested amount of the Eligible Employee&#8217;s Account shall be determined at the Participant&#8217;s termination of employment; however, subject to the forfeiture provisions of this Section 6.4.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">A Participant, his or her beneficiaries, successors and heirs, shall forfeit the portion of the Participant&#8217;s Account which is not vested upon voluntary termination of the Participant&#8217;s employment.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><font style="font-size:12pt;">The Employer reserves the right to &#8220;clawback&#8221; any distributions of Matching Contributions and/or Discretionary Contributions that were made to the Participant&#8217;s Account based on materially incorrect earnings that have been subsequently adjusted or corrected based on facts that became known or revealed in a subsequent period and to take any actions that it might legally take with respect to any Account value yet to be distributed, or otherwise subject to the terms of any clawback or recoupment policy that the Employer may adopt.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE VII</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">DISTRIBUTIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Distributions Generally</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> A Participant&#8217;s Account shall be distributed only in accordance with the provisions of this Article VII (except as provided in the SSB/CSFL Merger Addendum attached hereto). All distributions and other withdrawals from Accounts in accordance with the terms of the Plan shall be made in cash in United States currency, except that amounts deemed to be invested in Stock Units (including any amounts credited to a Participant&#8217;s TRSU or PRSU Account and any deemed investment in a Company Stock Fund) shall be distributed or otherwise withdrawn in accordance with the terms of this Plan in shares of Company Stock (except that any deemed investment in fractional shares of Company Stock shall be distributed in cash).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Automatic Distributions</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> An automatic distribution shall occur upon the earlier of the following (except as provided in the SSB/CSFL Merger Addendum):</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Participant&#8217;s Death</u><font style="font-size:12pt;">. If the Participant dies while employed by the Employer, his Account shall be distributed in a lump sum to his Designated Beneficiary thirty (30) days thereafter. Such Account will be valued as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Participant&#8217;s Disability</u><font style="font-size:12pt;">. If a Participant becomes disabled while employed by the Employer, his Account shall be distributed in a lump sum to him thirty (30) days thereafter. Such Account will be valued as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">17</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Separation from Service</u><font style="font-size:12pt;">. Except as provided in Section 7.5, if a Participant incurs a Separation from Service prior to Retirement, his vested Account shall be distributed in a lump sum to him thirty (30) days thereafter. Such Account will be valued as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(d)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Change in Control Distribution</u><font style="font-size:12pt;">. Subject to Section 7.3(c) and 7.4(g), upon the occurrence of a Change in Control event, a Participant&#8217;s entire Account, shall be paid to the Participant in a lump sum thirty (30) days thereafter. Such Account will be valued as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Elective Distributions</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> A Participant shall become entitled to receive a distribution from his Account at such time or times and by such method of payment as elected and specified in the Participant&#8217;s applicable Distribution Election Form, and/or as may be mandated by the provisions of this Article VII, based upon the following distribution options:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Retirement Distribution</u><font style="font-size:12pt;">. Upon a Participant&#8217;s Retirement from the Employer, his Account shall be distributed according to the method of payment elected in each of his Distribution Election Forms. If the Participant dies while receiving Retirement installment payments, his Designated Beneficiary shall continue to receive the remaining installments. If subsequently the Designated Beneficiary dies, any remaining installments will be paid or distributed to the Designated Beneficiary&#8217;s estate.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">In-Service Distributions</u><font style="font-size:12pt;">. If a Participant elects in his applicable Distribution Election Form, he can receive a distribution from his Account, on a date certain not earlier than three (3) years after the end of the deferral Plan Year, of all of his annual deferral amount for such Plan Year, including amounts credited or debited with respect to such amount based on the performance of the Participant&#8217;s elected Deemed Crediting Options and other items affecting the Account. The election is made on an annual basis, applies only to the Participant&#8217;s current Plan Year Contributions and is irrevocable, except as provided in Paragraph (e) of Section 7.4.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Special Installment Distribution</u><font style="font-size:12pt;">. A Participant who receives an Employer Discretionary Contribution and was a previous employee with Park Sterling Bank will receive his Account in twenty-four (24) equal monthly installments upon Separation from Service or Retirement (as provided in the applicable Participant&#8217;s employment agreement with the Employer entered into in connection with Park Sterling Bank&#8217;s merger with and into the Bank). This election applies only to the Employer Discretionary Contribution and is irrevocable. If the Participant dies while receiving these installment payments, his Designated Beneficiary shall continue to receive the remaining installments. If subsequently the Designated Beneficiary dies, any remaining installments will be paid to the Designated Beneficiary&#8217;s estate.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(d)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Sub Accounts</u><font style="font-size:12pt;">. Due to the possibility of different elections on the Annual Forms for each Plan Year or on other Distribution Election Forms potentially applicable to RSUs, if the elections for a Participant change from year to year or otherwise vary, such change</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">18</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">or variations in the elections will necessitate the Employer maintaining separate sub-accounts which will total the Participant&#8217;s Account on any given date.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Timing and Method of Payment for Elective Distributions</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Retirement Distribution</u><font style="font-size:12pt;">. Except as set forth in Section 7.5, at the election of a Participant in the applicable annual Distribution Election Form, a Participant may receive a Retirement distribution in a lump sum or in payments of up to ten (10) annual installments (10 years) with the first installment to begin ten (10) days after the first business day on or after January 1 in the calendar year following the Participant&#8217;s date of Retirement and to be paid thereafter ten (10) days after the first business day on or after January 1 of each calendar year until the Account has been fully distributed. If a Participant elects a lump sum distribution, his Account will be distributed thirty (30) days after his Retirement. Such Account will be valued as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">In-Service Distributions</u><font style="font-size:12pt;">. At the election of a Participant in the applicable Distribution Election Form, an In-Service Distribution may be selected for payment as soon as three (3) years after the end of the deferral Plan Year. Distribution will be in a lump-sum, &#160;occurring thirty (30) days following the distribution date elected on the Distribution Election Form. Such Account will be valued as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Installment Payments</u><font style="font-size:12pt;">. In any distribution in which a Participant has elected or will receive distribution in periodic installments, the amount of each periodic installment shall be determined by applying a formula to the Account in which the numerator is the number one and the denominator is the number of remaining installments to be paid. For example, if a Participant elects ten (10) annual installments for a Retirement distribution, the first payment will be 1/10 of the Account, the second will be 1/9, the third will be 1/8, the fourth will be 1/7 and so on until the Account is entirely distributed. For purposes of the election described in Paragraph (e) of this Section, installment payments shall be treated as a series of separate payments, as described in Treasury regulations issued pursuant to Section 409A of the I.R.C. The amount of each installment payment shall be calculated as of a Valuation Date on or around the distribution date, as determined by the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(d)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Failure to Designate a Method of Payment</u><font style="font-size:12pt;">. In any situation in which the Plan Administration Committee is unable to determine the method of payment because of incomplete, unclear, or uncertain instructions in a Participant&#8217;s Distribution Election Form (or in which a valid Distribution Election Form does not apply), the Participant will be deemed to have elected a lump sum distribution at Retirement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(e)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Subsequent Elections</u><font style="font-size:12pt;">. A Participant who has made an In-Service Distribution or a Retirement distribution election may make one or more subsequent elections for a given Plan Year to postpone the distribution date or to change the form of payment to another form permitted by the Plan (a &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Subsequent Election</u><font style="font-size:12pt;">&#8221;). Such Subsequent Election shall be made in writing in such form as is acceptable to the Plan Administration Committee (and must be made in compliance with Code Section 409A) and must (i) provide for an effective date at least</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">19</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">twelve (12) months following the Subsequent Election, (ii) postpone the commencement of payment for a period of not less than five (5) years from the previous distribution date, and (iii) if the Subsequent Election relates to a payment described in Treasury Regulation Section 1.409A-3(a)(4) (payment at a specified time or pursuant to a fixed schedule), be made not less than twelve (12) months before the date the payment is scheduled to be paid.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(f)</font></font><font style="font-size:12pt;">[RESERVED]</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(g)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Change in Control Opt-Out Elections</u><font style="font-size:12pt;">. If (and only if) a Participant validly elects (in compliance with Code Section 409A and this Plan) an applicable Distribution Election Form to not receive a distribution upon the occurrence of a Change in Control event (a &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">CIC Opt-Out Election</u><font style="font-size:12pt;">&#8221;), then the portion of such Participant&#8217;s Account subject to such Distribution Election Form shall not be distributed upon the occurrence of a Change in Control event pursuant to Section 7.2(d). &#160;For the avoidance of doubt, if a Participant makes a valid CIC Opt-Out Election in some, but not all, of the Participant&#8217;s applicable Distribution Election Forms, then the portion of such Participant&#8217;s Account to which one or more CIC Opt-Out Elections applies would not be distributed upon the occurrence of a Change in Control event pursuant to Section 7.2(d), and the portion of such Participant&#8217;s Account to which a CIC Opt-Out Election does not apply would be distributed upon the occurrence of a Change in Control event pursuant to Section 7.2(d). &#160; The Employer may, but is not required to, include a CIC Opt-Out Election as an alternative in any Distribution Election Form.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.5.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Distributions to a Specified Employee</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Notwithstanding any other provision in the Plan to the contrary, a distribution to a Specified Employee upon Separation from Service, including Retirement, (and any other event required by Treasury Regulations issued pursuant to Section 409A of the I.R.C.) shall commence on the Delayed Distribution Date, which shall be six (6) months and one day following the Original Distribution Date. If the form of payment is installments, then such installments for a period of six (6) months beginning on the Delayed Distribution Date shall be double what they otherwise would have been (so that at the end of one year from the Original Distribution Date the Participant will have received the same amount he would have received had he not been a Specified Employee.)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.6.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Distributions Resulting from Unforeseeable Emergency</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> A Participant may request that all or a portion of his Account be distributed at any time prior to Separation from Service from the Employer by submitting a written request to the Plan Administration Committee; provided that the Participant has incurred an Unforeseeable Emergency, and the distribution is necessary to alleviate such Unforeseeable Emergency.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Such distribution shall be limited to an amount that does not exceed the amount necessary to satisfy such emergency after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Participant&#8217;s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). Such distribution shall be made ten (10) days after the Employer determines that an Unforeseeable Emergency has occurred. The Balance not distributed from the Participant&#8217;s Account shall remain in the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">20</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">7.7.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Distributions of Small Accounts</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> If at any time the value of the Participant&#8217;s Account is: (a) not greater than $19,500 (or such other greater or lesser amount as may be specified as &#8220;de minimis&#8221; under Treasury Regulations issued pursuant to Section 409A of the I.R.C.), (b) the payment accompanies the termination in the entirety of the Participant&#8217;s Account with the Employer and all similar arrangements the Participant has with the Employer that would constitute a single nonqualified deferred compensation plan under Section 409A of the I.R.C., (c) the payment is made thirty (30) days after the Participant&#8217;s Separation from Service; and (d) the Participant is provided no election with respect to receipt of the lump sum payment, the Plan Administration Committee, in its sole and exclusive discretion, may make a distribution in a lump sum of the value of the entire Account. If the value of a Participant&#8217;s Account is zero upon the Valuation Date of any distribution, the Participant shall be deemed to have received a distribution of such Account and his participation in the Plan terminates.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE VIII</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">ADMINISTRATION &amp; CLAIMS PROCEDURE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Duties of the Bank and the Company</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Bank shall have overall responsibility for the administration and operation of the Plan; </font><i style="font-size:12pt;font-style:italic;">provided</i><font style="font-size:12pt;"> that Compensation Committee must approve, in advance and in its discretion, the establishment of any Company Stock Fund as a Deemed Crediting Option (and any substitution, elimination or other change with respect to any Company Stock Fund), any Participants (including by specifying a group or class of Participants) that may elect to have all or any portion of an Account deemed to be invested in a Company Stock Fund, any deferral (including by specifying a group or class of Participants eligible to make such a deferral) of RSUs pursuant to this Plan and any other matters that the Compensation Committee is to approve or determine under this Plan. The Company shall be required to issue Company Stock that becomes distributable to Participants if, as and to the extent required pursuant to the terms of this Plan, to the extent that such Company Stock is not otherwise held or acquired by a Rabbi Trust and distributed to Participants if, as and to the extent required pursuant to the terms of this Plan. The Bank shall discharge its responsibility through the Plan Administration Committee, to which is delegated the Bank&#8217;s overall responsibility for administering and operating the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">The Plan Administration Committee</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">&#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Plan Administration Committee</u><font style="font-size:12pt;">&#8221; shall mean the one or more employees, appointed by the Compensation Committee from time to time, of the Bank who are charged with the overall administration and operation of the Plan. The Compensation Committee may make changes with respect to the person(s) serving on the Plan Administration Committee from time to time, in the sole discretion of the Compensation Committee. Unless the Compensation Committee appoints one or more other persons as the Plan Administration Committee, the Executive Vice President, Human Resources and the Director of Human Resources Administration the of the Bank, shall be the members of the Plan Administration Committee.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Plan Administration Committee&#8217;s Powers and Duties to Enforce Plan</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Plan Administration Committee shall be the &#8220;Administrator&#8221; and &#8220;Named Fiduciary&#8221; only to the extent required by ERISA for top-hat plans and shall have the complete control and authority to enforce the Plan on behalf of any and all persons having or claiming any interest in the Plan in accordance with its terms. The Plan Administration Committee, in its sole and absolute</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">21</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">discretion, shall interpret the Plan, shall establish rules and procedures for administration of the Plan, including procedures for providing notice of eligibility for the Plan, the deferral and distribution elections, making available permitted deemed investment elections with respect to the Participant&#8217;s Account (subject to the authority reserved under this Plan to the Compensation Committee with respect to any Company Stock Fund, Stock Units, TRSUs and PRSUs), and the accounting rules for determining the value of a Participant&#8217;s Account, and shall determine all questions arising in the administration and application of the Plan. Any such interpretation by the Plan Administration Committee shall be final, conclusive and binding on all persons.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Any authority granted to the Plan Administration Committee may be exercised by the Compensation Committee. If and to the extent that the Compensation Committee exercises any authority granted to the Plan Administration Committee, the Compensation Committee, in exercising such authority, shall be deemed to be the Plan Administration Committee only with respect to its actions taken (including any determination made).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Organization of the Plan Administration Committee</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The Plan Administration Committee shall act by a majority of its members at the time in office. Plan Administration Committee action may be taken by a vote at a meeting, by written consent without a meeting or by an orally or written (including email) expressed agreement or assent by a majority of the members without a meeting. One or more members of the Plan Administration Committee may execute any document or documents on behalf of the Plan Administration Committee. The Plan Administration Committee shall notify an Employer, in writing, of such authorization and the name or names of its member or members, if requested by an Employer. &#160;An Employer shall accept and rely on any documents executed by said member of the Plan Administration Committee or members as representing action by the Plan Administration Committee. The Plan Administration Committee may adopt such bylaws and regulations, if any, as it deems desirable for the proper conduct of the Plan and change or amend such by-laws and regulations from time to time. The Plan Administration Committee may employ or engage and appropriately compensate accountants, legal counsel, benefit specialists, actuaries, investment advisers, Trustees, record keepers and any other plan administration service providers (whether third parties or persons employed by Employer, &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Record Keepers and Advisors</u><font style="font-size:12pt;">&#8221;) as it deems necessary or desirable in connection with the administration and maintenance of the Plan. Such professionals and advisors shall not be considered members of the Plan Administration Committee for any purpose. &#160;However, the Plan Administration Committee may direct one or more Record Keepers and Advisors to prepare, distribute, receive and/or accept (including with respect to items that are to be in a form or in forms prescribed by the Plan Administration, filed at times established by the Plan Administration Committee and/or that are to be filed with or accepted or acknowledged by the Plan Administration Committee or the Employer), on behalf of the Administrator and the Employer, written agreements, instructions, directions, other similar writings and other materials, in electronic form or otherwise, in connection with the administration of this Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.5.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Limitation of Liability</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">Neither any Employer nor any officer, director or Employee of any Employer shall be liable to any Employee, Participant, Designated Beneficiary or any other</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">22</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">person for any action taken or act of omission in connection with the administration or operation of the Plan unless attributable to his own fraud or willful misconduct. Moreover, each Participant, Designated Beneficiary, and any other person claiming a right to payment under the Plan shall only be entitled to look to the applicable Employer (that granted the right to payment) for payment (and, only with respect to distributions to be made in shares of Company Stock, also to the Company), and shall not have any right, claim or demand against the Compensation Committee or &#160;Plan Administration Committee (or any member thereof), or any director, officer or Employee of any Employer, or any other Employer.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">To the fullest extent permitted by applicable law and regulations, and subject to an Employer&#8217;s Articles of Incorporation and By-laws or similar organizational documents, each Employer shall indemnify the Compensation Committee and the Plan Administration Committee, each of their respective members, and each Employer&#8217;s officers and directors (and any Employee involved in carrying out the functions of such Employer under the Plan) for the expenses, costs, or liabilities arising out of the performance of duties required by the terms of the Plan, except for those expenses, costs, or liabilities arising out of an individual&#8217;s fraud, willful misconduct or gross negligence.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.6.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Reliance on Records and Reports</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Plan Administration Committee and the Compensation Committee shall each be entitled to rely upon certificates, reports, and opinions provided by Record Keepers and Advisers employed or engaged by an Employer, the Plan Administration Committee or the Compensation Committee. The Plan Administration Committee shall keep a record of its proceedings and acts, and shall keep all such books of account, records, and other data as may be necessary for the proper administration of the Plan (and may engage one or more Record Keepers and Advisers to keep any such books of account, records, and other data for the Plan Administration Committee). The regularly kept records of the Plan Administration Committee and the Employer shall be conclusive evidence of the service of a Participant, Compensation, age, marital status, status as an Employee, and all other matters contained therein and relevant to the Plan. The Plan Administration Committee and the Compensation Committee, in any of its dealings with Participants hereunder, may conclusively rely on any Annual Forms, written statement, representation, or documents made or provided by such Participants.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.7.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Costs of the Plan</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> All the costs and expenses for maintaining the administration and operation of the Plan shall be borne by the Employer unless the Employer shall give notice (that Plan Participants bear this expense, in whole or in part): (a) to Eligible Employees at the time they become Participants by completion and filing of the Annual Forms; or (b) to existing Participants during annual re-enrollment. Such notice shall detail the administrative expense to be assessed a Plan Participant, how that expense will be assessed and allocated to the Participant Accounts, and any other important information concerning the imposition of this administrative expense. This administration charge, if any, shall operate as a reduction to the Account of a Participant or his designated Beneficiary, and in the absence of specification otherwise shall reduce the Account, and be charged annually during the month of January.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.8.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Claims Procedure</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The procedure for making claims under this Plan shall be set forth on </font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Exhibit A</u><font style="font-size:12pt;">.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">23</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">8.9.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Litigation</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> It shall only be necessary to join an Employer as a party in any action or judicial proceeding affecting the Plan. No Participant or Designated Beneficiary or any other person claiming under the Plan shall be entitled to service of process or notice of such action or proceeding, except as may be expressly required by law. Any final judgment in such action or proceeding shall be binding on all Participants, Designated Beneficiaries or persons claiming under the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE IX</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">AMENDMENT, TERMINATION &amp;REORGANIZATION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">9.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Amendment</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Company, by a duly adopted resolution of its Board of Directors, the Compensation Committee or other duly authorized (in accordance with the Company&#8217;s by-laws) Board committee, reserves the right to amend the Plan, to the extent consistent with the requirements of the Code and ERISA. &#160;However, no amendment to the Plan shall be effective to the extent that it has the effect of decreasing a Participant&#8217;s (or Designated Beneficiary&#8217;s) accrued benefit prior to the date of the amendment.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">9.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Amendment Required By Law</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Notwithstanding Section 9.1, the Plan may be amended by the Company at any time, if in the opinion of the Company&#8217;s Board of Directors or duly authorized committee thereof, such amendment is necessary or appropriate to ensure the Plan is treated as a nonqualified plan of deferred compensation under the Code and ERISA, or to bring it into conformance with Treasury or SEC Regulations or requirements for such plans. This includes the right to amend the Plan, so that any trust, if applicable, created in conjunction with the Plan, will be treated as a grantor trust under Sections 671 through 679 of the Code, and to otherwise conform the Plan provisions and such trust, if applicable, to the requirements of any applicable law.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">9.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Termination</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Company and the Bank intend to continue the Plan indefinitely. However, the Company, by action of its Board of Directors or a duly authorized committee thereof (in accordance with its by-laws), reserves the right to terminate the Plan at any time, to the extent permitted under the Code and ERISA. However, no such termination shall deprive any participant or Designated Beneficiary of a benefit accrued under the Plan prior to the date of termination.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">9.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Consolidation/Merger</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">An Employer shall not enter into any consolidation or merger without the guarantee and assurance (which guarantee and assurance may exist as a matter of law) that the successor or surviving company or companies shall be liable for the obligations of the Employer contained under the Plan. Should such consolidation or merger occur, the term &#8220;Employer&#8221; as defined and used in the Plan shall refer to the successor or surviving company or companies. Should the consolidation or merger during a Plan Year constitute a Change in Control as defined in the Plan, a Participant or Designated Beneficiary shall receive distribution of his Account as and to the extent provided in Article VII.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">24</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARTICLE X</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">GENERAL PROVISIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.1.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Applicable Law</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Except insofar as the law has been superseded by Federal law, South Carolina law shall govern the construction, validity and administration of the Plan. The parties to the Plan intend that the Plan shall be a nonqualified unfunded plan of deferred compensation without plan assets and any ambiguities in its construction shall be resolved in favor of an interpretation which will effect this intention.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.2.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Benefits Not Transferable or Assignable</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">Benefits under the Plan shall not be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge such benefits shall be void, nor shall any such benefits be in any way liable for or subject to the debts, contracts, liabilities, engagements or torts of any person entitled to them. However, a Participant may name a recipient for any benefits payable or which would become payable to a Participant upon his death. Also, if necessary to comply with a domestic relations order as defined in Section 414(p)(1)(B) of the Code, pursuant to which a court has determined that a spouse or former spouse of a Participant has an interest in the Participant&#8217;s Account, the Plan Administration Committee shall have the right to immediately distribute the spouse&#8217;s or former spouse&#8217;s interest in the Participant&#8217;s Account to such spouse or former spouse. In addition, the following actions shall not be treated or construed as an assignment or alienation: (a) Plan Contribution or distribution tax withholding; (b) recovery of distribution overpayments to a Participant or Designated Beneficiary; (c) direct deposit of a distribution to a Participant&#8217;s or Designated Beneficiary&#8217;s banking institution account; or (d) transfer of Participant rights from one Plan to another Plan, if applicable.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">The Employer may bring an action for a declaratory judgment if a Participant&#8217;s, Designated Beneficiary&#8217;s or any beneficiary&#8217;s benefits hereunder are attached by an order from any court. The Employer may seek such declaratory judgment in any court of competent jurisdiction to:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(i) determine the proper recipient or recipients of the benefits to be paid under the Plan;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(ii) protect the operation and consequences of the Plan for the Employer and all Participants; and</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(iii) request any other equitable relief the Employer in its sole and exclusive judgment may feel appropriate.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Benefits which may become payable during the pendency of such an action shall, at the sole discretion of the Employer, either be:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(x) paid into the court as they become payable, or</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:108pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">(y) held in the Participant&#8217;s or Designated Beneficiary&#8217;s Account subject to the court&#8217;s final distribution order.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">25</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.3.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Not an Employment Contract</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Plan is not and shall not be deemed to constitute a contract between any Employer and any Employee, or to be a consideration for, or an inducement to, or a condition of, the employment of any Employee. Nothing contained in the Plan shall give or be deemed to give an Employee the right to remain in the employment of any Employer or to interfere with the right to be retained in the employ of the Employer, any legal or equitable right against any Employer, or to interfere with the right of any Employer to discharge any Employee at any time. It is expressly understood by the parties hereto that the Plan relates to the payment of deferred compensation for the Employee&#8217;s services, generally payable after separation from employment with the Employer, and is not intended to be an employment contract.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.4.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Notices</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">Any notices required or permitted hereunder shall be in writing and shall be deemed to be sufficiently given at the time when delivered personally or when mailed by certified or registered first class mail, postage prepaid, addressed to either party hereto as follows:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 72pt;"><font style="font-size:12pt;">If to an Employer:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 72pt;"><font style="font-size:12pt;">South State Bank, National Association</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:12pt;">Director of Human Resources Administration</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:12pt;">1101 First Street South, Suite 202</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:12pt;">Winter Haven, Florida 33880</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:12pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 72pt;"><font style="font-size:12pt;">If to the Participant:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 72pt;"><font style="font-size:12pt;">At his last known address, as indicated by the records of the Employer; or to such changed address as such parties may have fixed by notice. However, any notice of change of address shall be effective only upon receipt.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">Any communication, benefit payment, statement or notice addressed to a Participant or Designated Beneficiary at the last post office address as shown on the Employer&#8217;s records shall be binding on the Participant or Designated Beneficiary for all purposes of the Plan. The Employer shall not be obligated to search for any Participant or Designated Beneficiary beyond sending a registered letter to such last known address.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.5.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Severability</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> If any provision or provisions of the Plan shall for any reason be invalid or unenforceable, the remaining provisions of the Plan shall be carried into effect, unless the effect thereof would be to materially alter or defeat the purposes of the Plan. All terms of the plan and all discretion granted hereunder to interpret the Plan shall be uniformly and consistently applied to all the Employees, Participants and Designated Beneficiaries.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">26</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.6.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Participant is General Creditor with No Rights to Assets</b><b style="font-size:12pt;font-weight:bold;">.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">The payments to the Participant or his Designated Beneficiary or any other beneficiary hereunder shall be made from assets which shall continue, for all purposes, to be a part of the general, unrestricted assets of the applicable Employer (that granted the right to payment under this Plan) (and, only with respect to distributions to be made in shares of Company Stock, also the Company), and no person shall have any interest in any such assets by virtue of the provisions of the Plan. Each Employer&#8217;s respective obligation hereunder shall be an unfunded and unsecured promise to pay money (or, if applicable, Company Stock) in the future. To the extent that any person acquires a right to receive payments from an applicable Employer under the provisions hereof, such right shall be no greater than the right of any unsecured general creditor of such applicable Employer; no such person shall have nor acquire any legal or equitable right, or claim in or to any property or assets of such applicable Employer. No Employer shall be obligated under any circumstances to fund obligations under the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">Each Employer at its sole discretion and exclusive option, may acquire and/or set-aside assets or funds, in a trust or otherwise, to support its financial obligations under the Plan. No such trust established for this purpose shall be established in or transferred to a location that would cause it to be deemed to be an &#8220;offshore trust&#8221; for purposes of Section 409A(b)(1) of the I.R.C. No such acquisition or set-aside shall impair or derogate the applicable Employer&#8217;s direct obligation to a Participant or Designated Beneficiary under the Plan. However, no Participant or Designated Beneficiary shall be entitled to receive duplicate payments of any Accounts provided under the Plan because of the existence of such assets or funds.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><font style="font-size:12pt;">In the event that, in its discretion, an Employer purchases an asset(s) or insurance policy or policies insuring the life of the Participant to allow such Employer to recover the cost of providing benefits, in whole or in part hereunder, neither the Participant, Designated Beneficiary nor any other beneficiary shall have any rights whatsoever therein in such assets or in the proceeds therefrom. The applicable Employer shall be the sole owner and beneficiary of any such assets or insurance policy and shall possess and may exercise all incidents of ownership therein. No such asset or policy, policies or other property shall be held in any trust for the Participant or any other person nor as collateral security for any obligation of any Employer hereunder. Nor shall any Participant&#8217;s participation in the acquisition of such assets or policy or policies be a representation to the Participant, Designated Beneficiary or any other beneficiary of any beneficial interest or ownership in such assets, policy or policies. A Participant may be required to submit to medical examinations, supply such information and to execute such documents as may be required by an insurance carrier or carriers (to whom the applicable Employer may apply from time to time) as a precondition to participate in the Plan.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.7.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">No Trust Relationship Created</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Nothing contained in the Plan shall be deemed to create a trust of any kind or create any fiduciary relationship between any Employer and the Participant, Designated Beneficiary, other beneficiaries of the Participant, or any other person claiming though the Participant. Funds allocated hereunder shall continue for all purposes to be part of the general assets and funds of the applicable Employer and no person other than such applicable Employer shall, by virtue of the provisions of the Plan, have any beneficial interest in such assets and funds. The creation of a grantor trust (a so called &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Rabbi Trust</u><font style="font-size:12pt;">&#8221; and the trustee thereof, the &#8220;</font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Trustee</u><font style="font-size:12pt;">&#8221;) under the Code (owned by and for the benefit of an applicable Employer)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">27</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">to hold such assets or funds for the administrative convenience of the Employer shall not give nor be a representation to a Participant, Designated Beneficiary, or any other person, of a property or beneficial ownership interest in such trust assets or funds even though the incidental advantages or benefits of the trust to Plan Participants may be communicated to them.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.8.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Limitations on Liability of the Employer</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> Neither the establishment of the Plan nor any modification hereof nor the creation of any Account under the Plan nor the payment of any benefits under the Plan shall be construed as giving to any Participant or any other person any legal or equitable right against any Employer or any director, officer or Employee thereof except as provided by law or by any Plan provision.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.9.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Agreement Between Employer and Participant Only</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The Plan is solely between the applicable Employer and Participant. The Participant, Designated Beneficiary, estate or any other person claiming through the Participant, shall only have recourse against the applicable Employer for enforcement of the Plan. The Plan shall be binding upon and inure to the benefit of each Employer and its successors and assigns, and the Participant, successors, heirs, executors, administrators and beneficiaries.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.10.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Independence of Benefits</b><b style="font-size:12pt;font-weight:bold;">. </b><font style="font-size:12pt;"> The benefits payable under the Plan are for services already rendered and shall be independent of, and in addition to, any other benefits or compensation, whether by salary, bonus, fees or otherwise, payable to the Participant under any compensation and/or benefit arrangements or plans, incentive cash compensations and stock plans and other retirement or welfare benefit plans, that now exist or may hereafter exist from time to time.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.11.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Unclaimed Property</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><font style="font-size:12pt;">Except as may be required by law, if the applicable Employer gives notice to a Participant of an entitlement to benefits under the Plan, and the Participant fails to claim such benefit within three (3) calendar years of such notice, such Employer may deem the benefit to be a forfeiture. However, such Employer shall pay the benefit, unadjusted for gains or losses from the date of such forfeiture, and distribute any Company Stock hereunder, to a Participant who subsequently makes proper claim for the benefit.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><font style="font-size:12pt;">No Employer shall be liable to any person for payment pursuant to applicable state unclaimed property laws.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">10.12.</b></font><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Required Tax Withholding and Reporting</b><b style="font-size:12pt;font-weight:bold;">. &#160;</b><font style="font-size:12pt;">The applicable Employer may withhold from a Participant&#8217;s nondeferred compensation and reimbursements any applicable payroll taxes that may be due in connection with any deferral made under the Plan. &#160;The applicable Employer shall withhold and report Federal, state and local income, payroll or other tax amounts that it determines to be appropriate with respect to all distributions and withdrawals from a Participant&#8217;s Account as may be required by law from time to time. &#160;Withholdings in respect of any distributions or withdrawals from a Participant&#8217;s Account shall be effected through the withholding of cash, to the extent that cash would otherwise be distributed to or withdrawn by the Participant, and then, if and to the extent that such cash is not sufficient to satisfy the withholding obligation, through the withholding (including by cancellation of the</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">28</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">right to receive) of shares of Company Stock or vested Stock Units to which the Participant is otherwise entitled under this Plan with an aggregate &#160;fair market value equal to such obligation (provided, however, such Stock Units or shares of Company Stock may not be used to satisfy more than the applicable Employer&#8217;s maximum statutory withholding obligation or, if applicable, such lesser amount as may be necessary to avoid, if applicable, classification of a Stock Unit as a liability for financial accounting purposes). &#160;The fair market value of shares of Company Stock or Stock Units to be withheld (including by cancellation of the right to receive) will be determined based on the prices at which the Rabbi Trustee with respect to the Trust sells the related shares of Company Stock in connection with such distribution or withdrawal, if applicable, and otherwise shall be deemed to be the fair market value (as defined in the South State Corporation 2019 Omnibus Incentive Plan) of Company Stock as of the date as of which the amount of tax to be withheld is determined. &#160;Notwithstanding any action any Employer takes with respect to any or all Federal, state and local income, payroll or other tax-related withholding (&#8220;tax-related items&#8221;), the ultimate liability for all tax-related items is and remains the Participant&#8217;s responsibility and no Employer makes any representation or undertakings regarding the treatment of any tax-related items in connection with this Plan or its administration. &#160;Nothing in the Plan shall limit any Employer&#8217;s right to withhold from any sources as may be permitted by applicable law.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:99.9%;" align="center"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SOUTH STATE CORPORATION</b></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">By:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Title:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:44.16%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">By:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Title:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:99.9%;" align="center"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SOUTH STATE BANK, NATIONAL ASSOCIATION</b></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">By:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Title:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:44.16%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">By:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:5.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Title:</b></p></td><td style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">29</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger Addendum</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">June</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">to</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">South State Deferred Income Plan</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The Company and the Bank have entered into a strategic merger transaction (the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Merger</b><font style="font-size:12pt;">&#8221;) with CenterState Bank Corporation, a Florida corporation (&#8220;</font><b style="font-size:12pt;font-weight:bold;">CenterState</b><font style="font-size:12pt;">&#8221;), and CenterState Bank, N.A. the banking subsidiary of CenterState (together with CenterState, &#8220;</font><b style="font-size:12pt;font-weight:bold;">CSFL</b><font style="font-size:12pt;">&#8221;), pursuant to the Agreement and Plan of Merger by and between the Company and CenterState, dated as of January 25, 2020 (the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Merger Agreement</b><font style="font-size:12pt;">&#8221;). &#160;Effective upon, and subject to, the date of the consummation of the Merger (such date, the &#8220;</font><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger Effective Date</b><font style="font-size:12pt;">&#8221;), the Plan is amended to include this SSB/CSFL Merger Addendum (this &#8220;</font><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger Addendum</b><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The Accounts of certain employees and/or directors of Employer, and potentially of certain employees and/or directors of CSFL who will become employees and/or directors of Employer as of the SSB/CSFL Merger Effective Date, who are collectively referred to in this </font><font style="font-size:12pt;">SSB/CSFL Merger Addendum </font><font style="font-size:12pt;">as &#8220;</font><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger Participants,</b><font style="font-size:12pt;">&#8221; will be credited with Discretionary Contributions under the Plan (such amounts, &#8220;</font><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger-Related Discretionary Contributions</b><font style="font-size:12pt;">&#8221;) as contemplated by certain employment or services agreements (&#8220;</font><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger Services Agreements</b><font style="font-size:12pt;">&#8221;) entered into in connection with the Merger Agreement, or entered into after the date of the Merger Agreement and in connection with the Merger, that provide for payments that (i) upon the SSB/CSFL Merger Effective Date are to be credited to a deferred compensation account maintained by the Employer, with the applicable SSB/CSFL Merger Participant having sole authority to notionally invest the Transition Payment in such account, and that are vested as of the SSB/CSFL Merger Effective Date (a &#8220;</font><b style="font-size:12pt;font-weight:bold;">Transition Payment</b><font style="font-size:12pt;">&#8221;) and shall be payable to the applicable SSB/CSFL Merger Participant on the payment schedule (and subject to the terms and conditions) set forth in the applicable SSB/CSFL Merger Services Agreement, or (ii) </font><font style="font-size:12pt;">shall vest, if at all, following the effective time of the Merger on the terms specified in the SSB/CSFL Merger Services Agreement with the applicable SSB/CSFL Merger Participant (an &#8220;</font><b style="font-size:12pt;font-weight:bold;">Integration or Conversion Bonus</b><font style="font-size:12pt;">&#8221;) and shall be payable (subject to the terms and conditions set for in the applicable SSB/CSFL Merger Services Agreement) on the schedule provided in the applicable </font><font style="font-size:12pt;">SSB/CSFL Merger Services Agreement</font><font style="font-size:12pt;">.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Separate sub-accounts (which will total the SSB/CSFL Merger Participant&#8217;s Account on any given date) shall be maintained by the Employer with respect to any SSB/CSFL Merger-Related Discretionary Contribution (including Deemed Earnings with respect thereto, &#8220;</font><b style="font-size:12pt;font-weight:bold;">SSB/CSFL Merger Accounts</b><font style="font-size:12pt;">&#8221;) as necessary in order to properly administer and maintain (including by making appropriate distributions with respect to) any SSB/CSFL Merger Accounts.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Vesting and distributions with respect to SSB/CSFL Merger Accounts shall be subject to and made in accordance with the terms and conditions of the applicable SSB/CSFL Merger Services Agreement and in accordance with Section 409A of the Code, notwithstanding anything to the contrary in the Plan. All such payments to be made upon a termination of employment may only be made upon a &#8220;separation from service&#8221; under Section 409A of the Code to the extent necessary in order to avoid the imposition of penalty taxes on SSB/CSFL Merger Participant pursuant to Section 409A of the Code. &#160;Notwithstanding anything to the contrary in the Plan, each SSB/CSFL Merger Participant shall be deemed to be a Participant (and shall continue to be</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">Exhibit A-</font><font style="font-size:12pt;">1</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">deemed to be a Participant as long as the SSB/CSFL Merger Participant continues to be entitled to a benefit (in the form of an undistributed Account Balance) under the Plan). If the applicable SSB/CSFL Merger Participant is considered a &#8220;specified employee&#8221; for purposes of Section 409A of the Code (as determined in accordance with the methodology established by the Company and its affiliates as in effect as of SSB/CSFL Merger Participant&#8217;s separation from service (as determined in accordance with Section 409A of the Code)), any such payment that constitutes nonqualified deferred compensation within the meaning of Section 409A of the Code that is otherwise due to such SSB/CSFL Merger Participant as contemplated under this SSB/CSFL Merger Addendum during the six-month period immediately following such SSB/CSFL Merger Participant&#8217;s separation from service on account of such SSB/CSFL Merger Participant&#8217;s separation from service shall be accumulated (including Deemed Earnings with respect thereto) and paid to such SSB/CSFL Merger Participant on the first business day of the seventh month following his separation from service (the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Delayed Payment Date</b><font style="font-size:12pt;">&#8221;), to the extent necessary to prevent the imposition of tax penalties on such SSB/CSFL Merger Participant under Section 409A of the Code. &#160;If such SSB/CSFL Merger Participant dies during the postponement period, such amounts delayed on account of Section 409A of the Code shall be paid to the personal representative of the SSB/CSFL Merger Participant&#8217;s estate on the first to occur of the Delayed Payment Date or thirty (30) calendar days after the date of such SSB/CSFL Merger Participant&#8217;s death.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The applicable Employer shall provide to the Plan Administration Committee the name of each applicable SSB/CSFL Merger Participant, the amount of any Transition Payment or Integration or Conversion Bonus that shall be credited (and the date as of which such the credit shall be made) with respect to each such SSB/CSFL Merger Participant&#8217;s Account, and the applicable payment schedule with respect thereto.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Transition Payment Account Distribution Schedules</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Certain SSB/CSFL Merger Participants will be a party to an SSB/CSFL Merger Services Agreement that provides for a Transition Payment. A Transition Payment (including Deemed Earnings with respect thereto, a &#8220;</font><b style="font-size:12pt;font-weight:bold;">Transition Payment Account</b><font style="font-size:12pt;">&#8221;) shall be payable to the applicable SSB/CSFL Merger Participant on the payment schedule set forth in his SSB/CSFL Merger Services Agreement and subject to the terms and conditions thereof.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">With respect to the Transition Payment Account of an SSB/CSFL Merger Participant, if the SSB/CSFL Merger Participant dies while receiving installment payments, his Designated Beneficiary shall continue to receive the remaining installments. If subsequently the Designated Beneficiary dies, any remaining installments will be paid to the Designated Beneficiary&#8217;s estate.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">A Transition Payment shall be treated as an Employer Discretionary Contribution within the meaning of the Plan, meaning, for example that the applicable SSB/CSFL Merger Participant will be permitted to select Deemed Crediting Options under the Plan, and shall otherwise adhere to the terms and conditions of the Plan; </font><i style="font-size:12pt;font-style:italic;">provided</i><font style="font-size:12pt;">, that Sections 7.2(a) (Participant&#8217;s Death), 7.2(b) (Participant&#8217;s Disability), 7.2(c) (Separation from Service), 7.2(d) (Change in Control Distribution), 7.3 (Elective Distributions), 7.4(f) (Special One Time Change in Control Election) and 9.4 of the Plan relating to payment of SSB/CSFL Merger Participant&#8217;s Account in connection with a Change in Control, and any other provisions providing for accelerated vesting</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">Exhibit A-</font><font style="font-size:12pt;">2</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">of Contributions, shall not apply to a Transition Payment Account (a Transition Payment shall be fully vested when credited to the applicable SSB/CSFL Merger Participant&#8217;s Account), in each case unless otherwise provided in an applicable SSB/CSFL Merger Services Agreement. For the avoidance of doubt, a Transition Payment Account shall not be subject to the early distribution provisions of the Plan in connection with the completion of the Merger or, unless otherwise provided in an applicable SSB/CSFL Merger Services Agreement, any future Change in Control.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Integration or Conversion Bonus Account Distribution Schedules</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Certain SSB/CSFL Merger Participants will be a party to an SSB/CSFL Merger Services Agreement that provides for a potential Integration or Conversion Bonus.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">Subject to the applicable SSB/CSFL Merger Participant&#8217;s satisfaction of the vesting conditions (and the other terms and conditions) set forth in such SSB/CSFL Merger Participant&#8217;s SSB/CSFL Merger Services Agreement, an Integration or Conversion Bonus (including Deemed Earnings with respect thereto, an &#8220;</font><b style="font-size:12pt;font-weight:bold;">Integration or Conversion Bonus Account</b><font style="font-size:12pt;">&#8221;) shall be credited under the Plan (and provided that an SSB/CSFL Merger Participant&#8217;s SSB/CSFL Merger Services Agreement may specify that the SSB/CSFL Merger Participant&#8217;s Integration or Conversion Bonus shall be credited under the Plan as of the </font><font style="font-size:12pt;">SSB/CSFL Merger Effective Date</font><font style="font-size:12pt;">, but shall remain subject to vesting conditions set forth in such SSB/CSFL Merger Participant&#8217;s SSB/CSFL Merger Services Agreement) and shall be payable on the schedule provided in the SSB/CSFL Merger Participant&#8217;s SSB/CSFL Merger Services Agreement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">An Integration or Conversion Bonus shall be treated as an Employer Discretionary Contribution within the meaning of the Plan, meaning, for example that the applicable SSB/CSFL Merger Participant will be permitted to select Deemed Crediting Options (as defined in the Plan) under the Plan, and shall otherwise adhere to the terms and conditions of the Plan (unless otherwise provided in an applicable SSB/CSFL Merger Services Agreement); provided, that Sections 7.2(d) (Change in Control Distribution), 7.4(f) (Special One Time Change in Control Election) and 9.4 of the Plan relating to payment of an SSB/CSFL Merger Participant&#8217;s Account in connection with a Change in Control, and any other provisions providing for accelerated vesting of Contributions, shall not apply to an Integration or Conversion Bonus Account (in each case unless otherwise provided in an applicable SSB/CSFL Merger Services Agreement). For the avoidance of doubt, an Integration or Conversion Bonus Account shall not be subject to the early distribution provisions of the Plan in connection with the completion of the Merger or, unless otherwise provided in an applicable SSB/CSFL Merger Services Agreement, any future Change in Control.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;white-space:pre-wrap;">Certain Restricted Stock  Units.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">As a matter of administrative convenience, the Company may track and administer the restricted stock units granted on April 21, 2020 to the then Chief Executive Officer of South State Corporation (and any dividend equivalents credited with respect thereto pursuant to the applicable restricted stock unit agreement, the &#8220;</font><b style="font-size:12pt;font-weight:bold;">April 2020 RSU Agreement</b><font style="font-size:12pt;">&#8221;) through the administrative and record keeping systems used with respect to this Plan; provided, for the avoidance of doubt, that the time and form of payment, and the other terms, provided in the April</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">Exhibit A-</font><font style="font-size:12pt;">3</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">2020 RSU Agreement shall not be changed or amended as a result of any such tracking or administration.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">Exhibit A-</font><font style="font-size:12pt;">4</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit A</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Claims Procedure</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Claims and Review Procedure</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(a)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">General</u><font style="font-size:12pt;">. Because this Plan is established as a &#8220;top-hat plan&#8221; within the meaning of DOL Reg. &#167;2520.104-23, the following claims procedure under DOL Reg. &#167;2560.503-1 applies. For purposes of the Plan&#8217;s claims procedure under this Plan Section 8.8, the &#8220;Administrator&#8221; has the meaning provided in Plan Section 8.3.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">The Plan Administration Committee under this Plan Section 8.8 will provide a separate written document to affected Participants and Beneficiaries which explains the Plan&#8217;s claims procedure.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">A Participant or Beneficiary shall file with the Plan Administration Committee a written claim for benefits, subject to the administrative procedures established by the Plan Administration Committee. Additionally, if any Participant or Beneficiary believes he is being improperly denied any rights under the Plan, such Participant or Beneficiary may file a claim in writing with the Plan Administration Committee. However, the Plan Administration Committee will cause the Plan to pay only such benefits or provide such rights to the Participant or Beneficiary as the Plan Administration Committee in its discretion determines a Participant or Beneficiary is entitled to receive.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">If the Participant or Beneficiary disputes the Plan Administration Committee&#8217;s determination regarding the Participant&#8217;s or Beneficiary&#8217;s Plan benefit, the Participant or Beneficiary may appeal such decision under the procedures outlined in the remainder of this Plan Section 8.8.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(b)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Claims Procedure</u><font style="font-size:12pt;">. If any such claim with respect to benefits or rights is wholly or partially denied, the Plan Administration Committee shall notify such Participant or Beneficiary of its decision in writing. Such notification shall be written in a manner calculated to be understood by such Participant or Beneficiary and shall contain (i) specific reasons for the denial, (ii) specific reference to pertinent Plan provisions, (iii) a description of any additional material or information necessary for the Participant to perfect such claim and an explanation of why such material or information is necessary, and (iv) information as to the steps to be taken if the Participant wishes to submit a request for review. Such notification shall be given within 90 days after the claim is received by the Plan Administration Committee (or within 180 days, if special circumstances require an extension of time for processing the claim, and if written notice of such extension and circumstances is given to such Participant or Beneficiary within the initial 90 day period). If such notification is not given within such period, the claim shall be considered denied as of the last day of such period and such Participant or Beneficiary may request a review of his claim.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(c)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Review Procedure</u><font style="font-size:12pt;">. Within 60 days after the date on which a Participant or Beneficiary receives a written notice of a denied claim (or, if applicable, within 60 days after the date on which such denial is considered to have occurred) such Participant (or his duly authorized representative) may (i) file a written request with the Plan Administration Committee</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">Exhibit A-</font><font style="font-size:12pt;">5</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">for a review of his denied claim and of pertinent documents, and (ii) submit written issues and comments to the Plan Administration Committee. The Plan Administration Committee shall notify such Participant or Beneficiary of its decision in writing. Such notification shall be written in a manner calculated to be understood by such Participant or Beneficiary and shall contain specific reasons for the decision as well as specific references to pertinent Plan provisions. The decision on review shall be made within 60 days after the request for review is received by the Plan Administration Committee (or within 120 days, if special circumstances require an extension of time for processing the request, such as an election by the Plan Administration Committee to hold a hearing, and if written notice of such extension and circumstances is given to such person within the initial 60-day period). If the decision on review is not made within such period, the claim shall be considered denied.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">(d)</font></font><u style="font-size:12pt;text-decoration:underline;text-decoration-color:#000000;">Final Determination</u><font style="font-size:12pt;">. If the Plan Administration Committee makes a final written determination denying a Participant&#8217;s or Beneficiary&#8217;s claim, the Participant or Beneficiary must file any court action with respect to the denied claim within 180 days following the date of the Plan Administration Committee&#8217;s final determination.</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="font-size:12pt;">Exhibit A-</font><font style="font-size:12pt;">6</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:avoid;width:88.24%;border-width:0;"></body></html>
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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.7.0.58--><!--Created on: 8/3/2020 07:48:13 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Exhibit 5.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.55pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.55pt 0pt;"><img src="tmb-20200803xex5d1001.jpg" alt="Graphic" style="display:inline-block;height:23.24pt;left:0%;padding-bottom:0pt;position:relative;top:0pt;width:256.46pt;"></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.55pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">South State Corporation</p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">1101 First Street South</p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Winter Haven, Florida 33880</p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">August 3, 2020</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:bottom;width:20%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Re:</p></td><td style="vertical-align:top;width:80%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Registration Statement on Form S-8</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">Ladies and Gentlemen:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">I am the Senior Vice President, Deputy General Counsel of </font><font style="color:#333333;">South State Corporation</font><font style="color:#131313;">, a South Carolina corporation (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Corporation</u><font style="color:#131313;">&#8221;). A Registration Statement on Form S-8 (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Re</u><font style="color:#131313;">g</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">istration Statement</u><font style="color:#131313;">&#8221;) is being filed on or about the date of this letter with the U.S. Securities and Exchange Commission (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Commission</u><font style="color:#131313;">&#8221;) by the Corporation related to the registration under the Securities Act of 1933</font><font style="color:#333333;">, </font><font style="color:#131313;">as amended (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Securities Act</u><font style="color:#131313;">&#8221;) of &#160;$22,000,000 of Deferred Compensation Obligations (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Deferred Compensation Obligations</u><font style="color:#131313;">&#8221;), which represent general unsecured obligations of the Corporation and of applicable subsidiaries of the Corporation under the Amended and Restated South State Deferred Income Plan (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Plan</u><font style="color:#131313;">&#8221;) that may be paid in shares of common stock, par value $2.50 per share (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Common Stock</u><font style="color:#131313;">&#8221;), of the Corporation. The </font>467,935 shares of Common Stock that <font style="color:#131313;">are being registered pursuant to the Registration Statement represent an estimated number of shares of Common Stock, </font>based on the average of the high and low prices for the Common Stock on The NASDAQ Global Select Market on July 28, 2020,<font style="color:#131313;"> that may be distributed in respect of the Deferred Compensation Obligations being registered pursuant to the Registration Statement (the &#8220;</font><u style="color:#131313;text-decoration:underline;text-decoration-color:#131313;">Shares</u><font style="color:#131313;">&#8221;). This opinion is delivered in accordance with the requirements of Item 60l(b)(5) of Regulation S-K under the Securities Act.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">In rendering this opinion, I have examined such records</font><font style="color:#333333;">, </font><font style="color:#131313;">documents and proceedings as I have deemed relevant as a basis for the opinion expressed herein. In rendering this opinion</font><font style="color:#505050;">, </font><font style="color:#131313;">I have assumed</font><font style="color:#333333;">, </font><font style="color:#131313;">without independent verification</font><font style="color:#333333;">, </font><font style="color:#131313;">that: (i) all signatures are genuine; (ii) all documents submitted to me as originals are authentic</font><font style="color:#333333;">; </font><font style="color:#131313;">and (iii)&#160;all documents submitted to me as copies conform to the originals of such documents.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">Based on and subject to the foregoing, and the qualifications and limitations set forth herein, and having regard for such legal considerations as I have deemed relevant</font><font style="color:#333333;">, </font><font style="color:#131313;">it is my opinion that (i) the Deferred Compensation Obligations have been duly authorized and, as and when established in accordance with the terms of the Plan, the Deferred Compensation Obligations will be valid and binding obligations of the Corporation and the applicable subsidiaries of the Corporation enforceable against the Corporation and such subsidiaries, respectively, in accordance with the terms of the Plan, and (ii) when the Shares have been issued in accordance with the Plan, and when appropriate certificates representing such shares shall have been duly executed and have been registered and issued by the Company&#8217;s registrar or, if applicable, when book entry shares shall have been duly registered on the books of the Company&#8217;s transfer agent and registrar, such Shares will be validly issued, fully paid and nonassessable.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">This opinion is subject to the limitations, if any, of Title 11 U.S.C., as amended, and of the applicable insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors&#8217; rights generally and by principles of equity.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">The foregoing opinion is based on and limited to the laws of the State of South Carolina and the federal laws of the United States of America, and I express no opinion as to the laws of any other jurisdiction.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">This opinion is delivered as of the date hereof, and I undertake no obligation to advise you of any changes in applicable law or any other matters that may come to my attention after the date hereof.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#131313;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="color:#131313;">I hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent</font><font style="color:#333333;">, </font><font style="color:#131313;">I do not admit that I am within the category of persons whose consent is required under Section 7 of the Securities Act and the rules and regulations thereunder</font><font style="color:#333333;">.</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#333333;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Sincerely<font style="color:#333333;">,</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ V. NICOLE COMER</p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">V. Nicole Comer</p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Senior Vice President, Deputy General Counsel</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:avoid;width:88.24%;border-width:0;"></body></html>
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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.7.0.58--><!--Created on: 8/3/2020 07:48:16 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 23.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Board of Directors and Shareholders</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">South State Corporation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated February 21, 2020, with respect to the consolidated financial statements of South State Corporation and subsidiary as of December 31, 2019 and 2018, and for each of the years in the three-year period ended December 31, 2019, and the effectiveness of South State Corporation&#8217;s internal control over financial reporting as of December 31, 2019, included in the Annual Report on Form 10-K for South State Corporation for the year ended December 31, 2019.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Dixon Hughes Goodman LLP</p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Atlanta, Georgia</p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">August 3, 2020</p></td><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:avoid;width:88.24%;border-width:0;"></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
