<SEC-DOCUMENT>0000350852-17-000022.txt : 20170126
<SEC-HEADER>0000350852-17-000022.hdr.sgml : 20170126
<ACCEPTANCE-DATETIME>20170126171524
ACCESSION NUMBER:		0000350852-17-000022
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170124
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170126
DATE AS OF CHANGE:		20170126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMUNITY TRUST BANCORP INC /KY/
		CENTRAL INDEX KEY:			0000350852
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				610979818
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31220
		FILM NUMBER:		17550648

	BUSINESS ADDRESS:	
		STREET 1:		346 NORTH MAYO TRAIL
		STREET 2:		P.O. BOX 2947
		CITY:			PIKEVILLE
		STATE:			KY
		ZIP:			41502-2947
		BUSINESS PHONE:		(606)433-4643

	MAIL ADDRESS:	
		STREET 1:		346 NORTH MAYO TRAIL
		STREET 2:		P.O. BOX 2947
		CITY:			PIKEVILLE
		STATE:			KY
		ZIP:			41502-2947

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY TRUST BANCORP INC/
		DATE OF NAME CHANGE:	19971124
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ctbi8k2017execcomp.htm
<DESCRIPTION>CTBI 2017 EXECUTIVE COMPENSATION AND INCENTIVE PLAN 8-K
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 15.95pt">WASHINGTON, DC 20549</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 15.95pt">CURRENT REPORT</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">PURSUANT TO SECTION 13 OR 15(d) OF THE<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> SECURITIES EXCHANGE ACT OF 1934</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Date of report (Date of earliest event reported): January 24, 2017</div>

<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 20.5pt">Community Trust Bancorp, Inc.</div>

<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 9.1pt">(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)</div>

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</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: small-caps">(state or other jurisdiction of incorporation)</font></div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">001-31220<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">61-0979818<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>(<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: small-caps">irs employer identification no.)</font></div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">346 North Mayo Trail, Pikeville, Kentucky<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>(<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: small-caps">address of principal executive offices</font>)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">41501<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>(<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: small-caps">zip code</font>)</div>
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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 9.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.85pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: left; LINE-HEIGHT: 10.85pt"><font style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif">&#9633;</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 36pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 9.5pt; FONT-FAMILY: 'Times New Roman', serif">Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">ITEM 1.01 &#8211; ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">On January 24, 2017, Community Trust Bancorp, Inc.&#8217;s Board of Directors approved the Employee Incentive Compensation Plan for the year ending December 31, 2017, which is included under Item 5.02 below, and incorporated herein by reference.</div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">ITEM 5.02 &#8211; DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">On January 24, 2017, Community Trust Bancorp, Inc.&#8217;s (&#8220;CTBI&#8221;) Board of Directors approved the following actions, which were approved by the Compensation Committee and recommended to the Board of Directors:</div>

<div>
<table id="zdea435a9c08044ee80f17c9550832825" class="DSPFListTable" style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Base Salary Increases.</font>&#160; New annual base salaries were approved for the following named executive officers:&#160; Jean R. Hale (Chairman, President and Chief Executive Officer) - $600,000; Kevin J. Stumbo (Executive Vice President, Chief Financial Officer, and Treasurer) - $255,000; Mark A. Gooch (Executive Vice President and Secretary) - $429,000; Larry W. Jones (Executive Vice President) - $270,000; and James B. Draughn (Executive Vice President) - $265,000.</div>
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<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
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<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Cash Incentive Compensation Awards for the Year(s) Ended December 31, 2016.</font> CTBI&#8217;s named executive officers were participants in CTBI&#8217;s Senior Management Incentive Compensation Plan for the year ended December 31, 2016 (&#8220;2016 Plan&#8221;).&#160; The Committee previously established the performance measures under the 2016 Plan and the minimum required level of performance was achieved by CTBI under the Plan.&#160; Accordingly, the named executive officers were entitled to the following cash incentive awards (paid in January 2017).</div>
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<td style="WIDTH: 72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">&#160;</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">2016 Cash Incentive Awarded Under the Senior Management Incentive Compensation Plan ($)</div>
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<td style="BORDER-TOP: #000000 2px solid; WIDTH: 72%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Jean R. Hale &#8211; Chairman, President and Chief Executive Officer</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">258,750</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Kevin J. Stumbo &#8211; Executive Vice President, Chief Financial Officer, and Treasurer</div>
</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">66,150</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Mark A. Gooch &#8211; Executive Vice President and Secretary</div>
</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">149,040</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Larry W. Jones &#8211; Executive Vice President</div>
</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">70,200</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">James B. Draughn &#8211; Executive Vice President</div>
</td>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">68,040</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">CTBI&#8217;s named executive officers were also participants in CTBI&#8217;s 2014 Executive Committee Long-Term Incentive Compensation Plan (&#8220;2014 Plan&#8221;) for the three year period ending December 31, 2016.&#160; The Committee previously established the performance measures under the 2014 Plan and the required level of performance was not achieved by CTBI under the Plan.&#160; Accordingly, the named executive officers were not entitled to cash incentive awards under this plan.</div>

<div>
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<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#183;</div>
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<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Grants of Restricted Stock.</font> Restricted stock was also granted to the named executive officers (as shown in the chart below) as a result of achieving the minimum level of performance under the 2016 Senior Management Incentive Compensation Plan.&#160; The restricted stock was granted pursuant to the terms of CTBI&#8217;s 2015 Stock Ownership Incentive Plan.&#160; The restrictions on the restricted stock will lapse ratably over four years.&#160; However, in the event of certain participant employee termination events occurring within 24 months of a change in control of CTBI or the death of the participant, the restrictions will lapse, and in the event of the participant&#8217;s disability, the restrictions will lapse on a pro rata basis.&#160; The Committee will have discretion to review and revise restrictions applicable to a participant&#8217;s restricted stock in the event of the participant&#8217;s retirement.</div>
</td>
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<table id="z2c903523f48f4f1e96d8ccc97784de4f" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">&#160;</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Restricted Stock Granted (Shares)</div>
</td>
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<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 72%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Jean R. Hale &#8211; Chairman, President and Chief Executive Officer</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">1,671</div>
</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Kevin J. Stumbo &#8211; Executive Vice President, Chief Financial Officer, and Treasurer</div>
</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">534</div>
</td>
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<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Mark A. Gooch &#8211; Executive Vice President and Secretary</div>
</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">1,053</div>
</td>
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<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Larry W. Jones &#8211; Executive Vice President</div>
</td>
<td style="WIDTH: 28%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">567</div>
</td>
</tr>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">James B. Draughn &#8211; Executive Vice President</div>
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<div style="FONT-SIZE: 12pt; LINE-HEIGHT: 13.7pt">In addition to these restricted stock grants, a management retention restricted stock award was granted to James B. Draughn for 5,000 shares.&#160; The terms of this grant are consistent with the above described restricted stock grants, except the retention award will cliff vest at the end of five years.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Plans for Annual Incentive Compensation Awards for the Year Ending December 31, 2017.</font>&#160; The Committee approved the Senior Management Incentive Compensation Plan for the year ending December 31, 2017 which is included herein as Exhibit 10.7 to this Current Report on Form 8-K. The participation groups under the Plan are: (i) Group I, consisting of the Community Trust Bancorp, Inc. Chief Executive Officer (&#8220;CTBI CEO&#8221;), Community Trust Bank, Inc. Chief Executive Officer (&#8220;CTB CEO&#8221;), and other members of the Executive Committee (&#8220;Other Executive Officers&#8221;); (ii) Group II, consisting of <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif">CTB officers responsible for the various consolidated functions as selected by the CTB CEO, the Presidents of each market, and the Community Trust and Investment Company (CTIC) officers responsible for various departments as selected by the CTIC CEO</font>; and (iii) Group III, consisting of Senior Vice Presidents of consolidated functions selected for participation by the Compensation Committee.&#160; Individuals below the Senior Vice President level may be selected by the Compensation Committee for special option awards for extraordinary performance.&#160; This Plan may be amended, modified, or terminated by the Board of Directors at any time at its sole discretion, except that after the 90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of the year the performance standards may not be changed in a manner that would increase the amount of incentive compensation payable for such year.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Participants will be eligible for a cash award determined by earnings per share (EPS) growth and earnings as a percentage of average assets (ROAA).&#160; The minimum and maximum awards as a percentage of salary for each group will be: (i) Group I &#8211; CTBI CEO minimum award of 25% of salary and maximum award of 100% of salary; (ii) Group I &#8211;&#160; CTB CEO minimum award of 20% of salary and maximum award of 80% of salary; (iii) Group I &#8211; Other Executive Officers minimum award of 15% of salary and maximum award of 60% of salary; (iv) Group II&#160; &#8211; minimum award of 3.5% of salary and maximum award of 8.75% of salary; and (v) Group III &#8211; minimum award of 2.75% of salary and maximum award of 6.71% of salary.&#160; In the event that the ROAA or EPS are not attained but the target net income is attained, the amount of the award under the Plan shall be paid at the base level of target performance payment.&#160; There shall be a minimum acceptable performance beneath which no incentive awards are paid and a maximum above which there is no additional award paid to avoid excessive payout in the event of windfall profits.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Participants will be eligible to receive stock options (pursuant to CTBI&#8217;s 2015 Stock Ownership Incentive Plan) with a face value equal to certain percentages of salary or restricted stock (or a combination of options and restricted stock) of an amount recommended by the Compensation Committee and approved by the Board of Directors of CTBI subject to any limitations of the 2015 Stock Ownership Incentive Plan.&#160; The minimum and maximum stock option awards as a percentage of salary for each group will be: (i) Group I &#8211; CTBI CEO minimum award of 10% of salary and maximum award of 23% of salary; (ii) Group I &#8211; CTB CEO minimum award of 8.757% of salary and maximum award of 20.125% of salary; (iii) Group I &#8211; Other Executive Officers minimum award of 7.5% of salary and maximum award of 17.25% of salary; (iv) Group II &#8211; minimum award of 5% of salary and maximum award of 11.5% of salary; and (v) Group III &#8211; minimum award of 2.25% of salary and maximum award of 5% of salary.&#160; In the event that the ROAA or EPS are not attained but the target net income is attained, the amount of stock options and/or restricted stock awarded under the Plan shall be granted at the base level of target performance.&#160; There shall be a minimum acceptable performance beneath which awards will not be granted and a maximum above which there is no additional award in the event of windfall profits.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt; LINE-HEIGHT: 13.7pt">The Committee also approved the Employee Incentive Compensation Plan for the year ending December 31, 2017 which is included herein as Exhibit 10.9 to this Current Report on Form 8-K.&#160; Full-time employees who do not participate in another incentive plan are eligible to participate in this Plan.&#160; This Plan may be amended, modified, or terminated by the Board of Directors at any time at its sole discretion, except that after the 90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of the year the target award and the performance standards may not be changed in a manner that would increase the amount of incentive compensation payable over the amount which would have been payable under the performance standards previously established.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Participants will be eligible for a cash award determined by earnings per share growth and earnings as a percentage of average assets (ROAA).&#160; The minimum and maximum awards as a percentage of salary for each participant will be: minimum award &#8211; 2% of salary and maximum award &#8211; 4.5% of salary.&#160; In the event that the ROAA or EPS are not attained but the target net income is attained, the amount of the award under the Plan shall be paid at the base level of target performance payment.&#160; There shall be a minimum acceptable performance beneath which no incentive awards are paid and a maximum above which there is no additional award paid to avoid excessive payout in the event of windfall profits.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Plan for Long-Term Incentive Compensation for Executive Committee.&#160; </font>The Committee approved the 2017 Executive Committee Long-Term Incentive Compensation Plan which is included herein as Exhibit 10.17 to this Current Report on Form 8-K.&#160; This Plan may be amended, modified, or terminated by the Board of Directors at any time at its sole discretion, except that after the 90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of the year, the performance goals set forth within may not be amended in a manner which would increase the amount of compensation payable pursuant to performance units over the amount which would have been payable under the performance goals previously established for such year.&#160; Participants in this Plan will be the members of the Executive Committee of CTBI.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The target award fund shall be generated by 40% of the salary of the CTBI CEO, 30% of the CTB CEO, and 20% of the salary of other members of the Executive Committee.&#160; The target award may be changed by the Compensation Committee of the Board of Directors at any time during the Performance Period at their discretion provided, however, that the target award as a percentage of salary may not be increased after the 90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of the 2016 calendar year.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The actual amount of payments under the performance units shall be calculated according to a schedule comparing cumulative net income (over a three-year performance period) to the performance goals described within the Plan and payments will be made in the form of cash or shares.&#160; The minimum and maximum awards as a percentage of salary will be 10.0% and 60.0% for the CTBI CEO, 7.50% and 45.0% for the CTB CEO, and 5.00% and 30.0% for all other members of the Executive Committee, respectively.&#160; No amounts may be paid under the performance units unless CTBI attains a minimum acceptable performance, and no additional amounts may be paid above the maximum performance level.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">(d) Exhibits</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Senior Management Incentive Compensation Plan (for the year ending December 31, 2017)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Employee Incentive Compensation Plan (for the year ending December 31, 2017)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Community Trust Bancorp, Inc. 2017 Executive Committee Long-Term Incentive Compensation Plan</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<td style="FONT-SIZE: 12pt; WIDTH: 38%" valign="top" colspan="2"><strong>COMMUNITY TRUST BANCORP, INC.</strong></td>
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<div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt">Date:&#160; January 26, 2017</div>
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<div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt">By: </div>
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<td style="FONT-SIZE: 12pt; WIDTH: 35%; BORDER-BOTTOM: #000000 2px solid" valign="top" nowrap="nowrap" align="left">/s/&#160;Jean R. Hale</td>
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<td style="FONT-SIZE: 12pt; WIDTH: 35%" valign="bottom" nowrap="nowrap" align="left">Jean R. Hale</td>
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<td style="FONT-SIZE: 12pt; WIDTH: 35%" valign="top">Chairman, President and Chief Executive Officer</td>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Senior Management Incentive Compensation Plan (for the year ending December 31, 2017)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Employee Incentive Compensation Plan (for the year ending December 31, 2017)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Community Trust Bancorp, Inc. 2017 Executive Committee Long-Term Incentive Compensation Plan</div>
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<TYPE>EX-10.7
<SEQUENCE>3
<FILENAME>ctbi8k2017execcompex10-7.htm
<DESCRIPTION>CTBI 2017 EXECUTIVE COMPENSATION AND INCENTIVE PLAN 8-K EXHIBIT 10.7
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 50.25pt; LINE-HEIGHT: 13.7pt">I.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 108pt; LINE-HEIGHT: 12.55pt">Attachment A - Notice of Participation</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 1.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">This plan is designed to reward senior management for meeting or exceeding industry standards for profitability and adopted to achieve the following objectives:</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Increase the profitability and growth of Community Trust Bancorp, Inc. in a manner which is consistent with other goals of the Company, its stockholders and its employees,</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Provide executive compensation which is competitive with other financial institutions,</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Attract and retain personnel of outstanding ability and encourage excellence in the performance of individual responsibilities,</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Motivate and reward those members of management who contribute to the success of the Company,</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Distinguish among the performance contributions of some individuals by providing financial recognition for individual performance, as well as group performance, and</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Allow the flexibility which permits revision and strengthening from time to time to reflect changing organizational goals and objectives.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 2.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">As used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Annual Incentive Plan</font>&#8221; or &#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Annual Plan</font>&#8221; shall mean the Senior Management Incentive Compensation Plan set forth in this document and all amendments thereto.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Award Period</font>&#8221; means one Fiscal Year.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Board</font>&#8221; means the Board of Directors of Community Trust Bancorp, Inc.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Company</font>&#8221; means Community Trust Bancorp, Inc., and its subsidiaries.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Compensation Committee</font>&#8221; means the Compensation Committee of the Board.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Disability</font>&#8221; means the total and permanent disability of a participant as defined by any Long-Term Disability Plans in effect for the Company and as thereafter may be amended.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Effective Date</font>&#8221; means the date upon which the Plan shall become effective.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Fiscal Year</font>&#8221; means the accounting period adopted by the Company for federal income tax purposes.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Participan</font>t&#8221; means a person designated by the Company to participate in the Plan.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Plan</font>&#8221; shall mean the Company&#8217;s Senior Management Incentive Compensation Plan.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Salary</font>&#8221; or &#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Salaries</font>&#8221; shall mean the base salary in effect for each participant as of the last pay period in December of the Award Period.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Stock Option</font>&#8221; shall mean stock options granted under the Community Trust Bancorp, Inc. 2015 Stock Ownership Incentive Plan as hereinafter may be amended including substitutions or replacements of the Plan.&#160; Such options shall be Incentive Stock Options to the extent possible under tax laws in effect at the time the option is awarded.</div>
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<font style="FONT-SIZE: 12pt; FONT-WEIGHT: bold">ARTICLE III</font></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>ADMINISTRATION OF THE PLAN</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; MARGIN-LEFT: 72pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -72pt"><u>Section 3.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee shall administer the Plan and employ such other agents as may reasonably be required to administer the Plan.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; MARGIN-LEFT: 72pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -72pt"><u>Section 3.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee shall adopt such rules and regulations of general application as are beneficial for the administration of the Plan and shall make all discretionary decisions involving a participant of the Plan. Said committee shall also have the right to interpret the Plan, to determine the Effective Date, and to approve all employees who are to participate in the Plan.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">A majority of the Compensation Committee shall constitute a quorum.&#160; The acts of a majority of the members present at any meeting at which there is a quorum shall be valid acts.&#160; Acts reduced to and approved in writing by a majority of said committee shall also be valid acts.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">All incentive compensation payable under the Plan shall be paid from the general assets of the Company.&#160; To the extent that any person acquires a right to receive payments under the Plan, such right shall be no greater than the right of any unsecured creditor of the Company.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.05</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee may authorize the Chairman, President and CEO of the Company to send a written notice of such Plan to each selected Participant.&#160; No person shall have the right to be included in the Plan until receiving said notice <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>in the form of Attachment "A" hereto</u></font>.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">All costs and expenses involved in the administration of this Plan shall be paid by the Company.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.07</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Any determination or action of the Compensation Committee or the Board shall be final, conclusive and binding on all participants and their beneficiaries, heirs, personal representatives, executors and administrators.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.08</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Board of Directors, in its sole discretion, may amend, modify or terminate the Plan at any time.&#160; The Compensation Committee shall also annually review the pre-determined performance standards and may amend such schedules in its sole discretion. Notwithstanding the foregoing, after the 90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of the year, the performance standards may not be amended in a manner which would increase the amount of incentive compensation payable over the amount which would have been payable under the performance standards previously established for such year.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>PARTICIPANT ELIGIBILITY</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The following groups shall participate in the Plan:</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif">Group I shall consist of CEOs of Community Trust Bancorp, Inc. (CTBI) and Community Trust Bank, Inc. (CTB) plus all other Executive Committee positions of the Corporation.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif">Group II shall consist of the (1) CTB officers responsible for the various consolidated functions as selected by the CTB CEO; (2) the Presidents of each market; and (3) the Community Trust and Investment Company (CTIC) officers responsible for various departments as selected by the CTIC CEO.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12.55pt">Group III shall consist of Senior Vice Presidents of consolidated functions who are selected for participation by the Compensation Committee.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12.55pt">Individuals below senior vice president level may be recommended and approved by the Compensation Committee for special awards of options for extraordinary performance.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Voluntary or involuntary termination of full-time employment of a Participant prior to the payment of incentive awards for an Award Period will result in such Participant forfeiting any incentive compensation for the Award Period (except as provided in Section 4.03 herein).<br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">If a Participant dies, retires, becomes disabled, or is granted a leave of absence during an Award Period, the Compensation Committee may, at its discretion or under such rules as it may have prescribed, award partial incentive compensation based on the level of achievement in relation to goals established for the Award Period.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Directors who are also employees of the Company shall be eligible to participate in the Plan.&#160; However, a director who is compensated on the basis of a fee or retainer, as distinguished from a salary, shall not be eligible.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.05</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">New employees of the Company and persons promoted during the Award Period who were not eligible to participate in the Plan at the beginning of the Award Period, but have become a member of Group I, II, or III shall participate in the Plan so long as such eligibility came into existence no later than six (6) months after the beginning of said Award Period.&#160; If a person becomes eligible at a date later than six (6) months into an Award Period, such person shall not be a Participant under this Plan until the first day of the next Award Period.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">ARTICLE V</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>PAYMENT TO PARTICIPANTS</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 5.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Incentive compensation to be awarded under the Plan shall be paid to Participants within thirty days after the close of the Award Period.&#160; Awards are not earned until paid to Participants.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 5.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">A Participant may elect to defer payment of all or part of his or her incentive compensation so long as the Participant requests such deferred payment under the terms of the Company&#8217;s Voluntary Deferred Compensation Plan.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE VI</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>DETERMINATION OF ANNUAL AWARD</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The actual amount of the Senior Management Incentive Compensation Plan award shall be calculated according to a schedule comparing earnings per share (EPS) and return on average assets (ROAA) for the Award Period to a pre-determined performance standard.&#160; When performance meets the established performance standards, the award fund will be adjusted according to the performance table.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">In the event that the ROAA or EPS targeted performance is not attained but the target net income is attained, the amount of the award under the Senior Management Incentive Plan shall be paid at the base level of target performance payment.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">There shall be a minimum acceptable performance beneath which no incentive awards are paid and a maximum above which there is no additional award paid to avoid excessive payout in the event of windfall profits<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">.&#160; Said minimum and maximum shall be reviewed annually and amended when necessary at any time in the sole discretion of the Compensation Committee; provided, however, that the minimum may not be reduced and the maximum may not be increased after the 90</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-WEIGHT: bold">th</sup><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold"> day of the year.</font></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">A Participant who is rated a "4" or "5" on the most recent Performance Appraisal and Development Plan shall not be eligible to receive an award under the Plan.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE VII</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>CALCULATION OF AWARD</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 7.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Corporation&#8217;s Group I will earn an award determined by EPS and ROAA as shown below:</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">TABLE I</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>2017 ANNUAL CASH INCENTIVE COMPENSATION AWARD</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>INITIAL CALCULATION</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group I - Executive Committee of Community Trust Bancorp, Inc.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<table id="zef6b0f232bac4699b97b8a7776c83181" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 21.88%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Target</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 19.79%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Target Award</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 19.79%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Salary</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 19.79%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Salary</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 18.75%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Salary</div>
</td>
</tr>

<tr>
<td style="WIDTH: 21.88%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ROAA</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">&#160;</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">CTBI CEO</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">CTB CEO</div>
</td>
<td style="WIDTH: 18.75%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group I</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.33%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.54%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.16</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">50%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">25%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">20%</div>
</td>
<td style="WIDTH: 18.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">15%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.33%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Base</div>
</td>
<td style="WIDTH: 13.54%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.22%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">100%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">50%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">40%</div>
</td>
<td style="WIDTH: 18.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">30%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.33%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.54%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.25%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">150%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">75%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">60%</div>
</td>
<td style="WIDTH: 18.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">45%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.33%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13.54%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.28%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">200%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">100%</div>
</td>
<td style="WIDTH: 19.79%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">80%</div>
</td>
<td style="WIDTH: 18.75%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">60%</div>
</td>
</tr>
</table>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z645a71705af44de2977819728e8c5f69" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company&#8217;s budget.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="ze88a1023fc2c4deea137a3b093e461ef" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, net income target is $49,618,000.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="zbbbc40b3c93b4b81a471295f9019441f" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">These results are after accrual of the incentive.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt">&#160;</div>

<div style="FONT-SIZE: 12pt; LINE-HEIGHT: 12pt"><u>Section 7.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Corporation&#8217;s (Group II) will earn an award determined by EPS growth and ROAA as shown below:</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">TABLE II</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>2017 ANNUAL CASH INCENTIVE COMPENSATION AWARD</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>INITIAL CALCULATION</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group II &#8211; Consolidated Division Officers of CTBI and Market Presidents</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<table id="z5fbb13c85fbd4f0ea44bd9eec620a0e7" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 30.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Target</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Target Award</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 34.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Salary</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 30.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ROAA</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 34.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group II</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 11.84%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12pt">1.16%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">50%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 34.21%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">3.50%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 11.84%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Base</div>
</td>
<td style="WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.22%</div>
</td>
<td style="WIDTH: 35.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">100%</div>
</td>
<td style="WIDTH: 34.21%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">7.00%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 11.84%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.25%</div>
</td>
<td style="WIDTH: 35.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">112%</div>
</td>
<td style="WIDTH: 34.21%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">7.84%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 11.84%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.28%</div>
</td>
<td style="WIDTH: 35.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">125%</div>
</td>
<td style="WIDTH: 34.21%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">8.75%</div>
</td>
</tr>
</table>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z7296c729af7142f1a98f9e28d4837fad" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company&#8217;s budget.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z9fac64cd7ccd47b18a3d18e4898724fd" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, net income target is $49,618,000.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z51b8e412bdc245cea8c7085248d76e77" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">These results are after accrual of the incentive.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 7.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Senior Vice Presidents of consolidated functions designated by the Compensation Committee will earn an award determined by EPS growth and ROAA as shown below:</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">TABLE III</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>2017 ANNUAL CASH INCENTIVE COMPENSATION AWARD</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>INITIAL CALCULATION</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group III - Senior Vice Presidents of Consolidated Functions</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<table id="z512b6c5a93ee4d3b9a89d97e702e3d29" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 30.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Target</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Target Award</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 34.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Salary</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 30.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ROAA</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.53%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 34.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group III</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 11.84%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12pt">1.16%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.53%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">&#160;50%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 34.21%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">2.75%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 11.84%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Base</div>
</td>
<td style="WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.22%</div>
</td>
<td style="WIDTH: 35.53%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">100%</div>
</td>
<td style="WIDTH: 34.21%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">5.50%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 11.84%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.25%</div>
</td>
<td style="WIDTH: 35.53%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">106%</div>
</td>
<td style="WIDTH: 34.21%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">5.83%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 11.84%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 18.42%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.28%</div>
</td>
<td style="WIDTH: 35.53%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">122%</div>
</td>
<td style="WIDTH: 34.21%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">6.71%</div>
</td>
</tr>
</table>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z7979bf98be3244039153e67e51345251" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company&#8217;s budget.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z8634cf60d6fe458ca7a0dc5cdbc617a3" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, net income target is $49,618,000.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="zabb0fbc93387418db8f372974d1e287e" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12pt">These results are after accrual of the incentive.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 7.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Participants in Groups I, II, and III shall be eligible to receive Stock Option awards on the same day that cash awards are paid under the terms of this Plan.&#160; Such Stock Options shall have a face value equal to the percentage of salary shown on Table IV below, adjusted in the same manner and in the same proportion as cash awards are adjusted under the terms of Sections 7.01, 7.02, and 7.03, and rounded down as necessary to grant for whole shares. The Committee at its sole discretion may choose to issue Restricted Stock or a combination of Options and Restricted Stock of an amount recommended by the Compensation Committee and approved by the Board of Directors of Community Trust Bancorp, Inc. subject to any limitations of the 2015 Stock Ownership Incentive Plan.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">TABLE IV</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>2017 SENIOR MANAGEMENT INCENTIVE COMPENSATION PLAN</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN-RIGHT: 135pt; TEXT-INDENT: 108pt"><u>STOCK OPTION AWARDS</u></div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<table id="z24405216ac744c3cada57c34ca459d04" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 20.83%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Target</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 79.17%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="5">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Stock Option Award as a % of Salary</div>
</td>
</tr>

<tr>
<td style="WIDTH: 20.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ROAA</div>
</td>
<td style="WIDTH: 16.67%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">CTBI CEO</div>
</td>
<td style="WIDTH: 16.67%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">CTB CEO</div>
</td>
<td style="WIDTH: 15.63%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group I</div>
</td>
<td style="WIDTH: 15.63%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group II</div>
</td>
<td style="WIDTH: 14.58%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Group III</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.33%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 12.5%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.16%</div>
</td>
<td style="WIDTH: 16.67%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">10.00%</div>
</td>
<td style="WIDTH: 16.67%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">&#160;&#160;&#160;8.757%</div>
</td>
<td style="WIDTH: 15.63%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">&#160;&#160;&#160;7.50%</div>
</td>
<td style="WIDTH: 15.63%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">&#160;&#160;&#160;5.00%</div>
</td>
<td style="WIDTH: 14.58%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">2.25%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 8.33%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Base</div>
</td>
<td style="WIDTH: 12.5%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.22%</div>
</td>
<td style="WIDTH: 16.67%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">20.00%</div>
</td>
<td style="WIDTH: 16.67%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">17.515%</div>
</td>
<td style="WIDTH: 15.63%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">15.00%</div>
</td>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">10.00%</div>
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<td style="WIDTH: 14.58%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">4.50%</div>
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<tr>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.25%</div>
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<td style="WIDTH: 16.67%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">21.00%</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">18.375%</div>
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<td style="WIDTH: 15.63%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">15.75%</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">10.50%</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">4.75%</div>
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<td style="WIDTH: 12.5%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.28%</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">23.00%</div>
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<td style="WIDTH: 16.67%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">20.125%</div>
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<td style="WIDTH: 15.63%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">17.25%</div>
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<td style="WIDTH: 15.63%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">11.50%</div>
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<td style="WIDTH: 14.58%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">5.00%</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company&#8217;s budget.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, net income target is $49,618,000.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12pt">These results are after accrual of the incentive.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE VIII</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>MISCELLANEOUS PROVISIONS</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 8.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee may elect to remove unusual, extraordinary or non-recurring items from the calculation of the earnings per share.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 8.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Company shall not merge into or consolidate with another entity or sell all or substantially all of its assets to another entity unless such other entity shall become obligated to perform the terms and conditions hereof relating to any awards already earned but not yet paid to the participant on his/her behalf.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 24pt"><u>NOTICE OF PARTICIPATION</u></div>

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<div style="LINE-HEIGHT: 24pt">________________________ is eligible for participation in the 2017 Plan Year for Community Trust Bancorp, Inc. Senior Management Incentive Compensation Plan, such participant being subject to all of the terms and conditions of said Plan.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 24pt; TEXT-INDENT: 168pt">BY: ___________________________________</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 24pt; TEXT-INDENT: 168pt">Dated: ____________________</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 24pt"><u>DESIGNATION OF BENEFICIARY</u></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 20.5pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">I, ___________________________________</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">, a participant in the Community Trust Bancorp, Inc. Senior Management Incentive Compensation Plan, name the following as my primary beneficiary under said Plan in the event of my death prior to receiving an award payable to me under said Plan.</font></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 20.5pt">If the primary beneficiary predeceases me, I designate the following persons as a contingent beneficiary, in the order shown, to receive an award payable to me under the Plan:</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Name ___________________________________</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Relationship _______________________________</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Address __________________________________</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Name ___________________________________</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Relationship _______________________________</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Address __________________________________</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Name ___________________________________</div>

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 This supersedes any previous beneficiary designation made by me with respect to this Plan.&#160; However, any compensation covered by the Community Trust Bancorp, Inc. Voluntary Deferred Compensation Plan shall be governed by the Beneficiary Designation applicable to that Plan.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; LINE-HEIGHT: 24pt">Date _________________</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; LINE-HEIGHT: 24pt">Signature of Participant ___________________________</div>

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<DOCUMENT>
<TYPE>EX-10.9
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<FILENAME>ctbi8k2017execcompex10-9.htm
<DESCRIPTION>CTBI 2017 EXECUTIVE COMPENSATION AND INCENTIVE PLAN 8-K EXHIBIT 10.9
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 15.95pt">Exhibit 10.9</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 15.95pt">COMMUNITY TRUST BANCORP, INC.</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 15.95pt">EMPLOYEE INCENTIVE COMPENSATION PLAN</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 15.95pt">EFFECTIVE JANUARY 1, 2017</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>INCENTIVE COMPENSATION PLAN</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">ADMINISTRATION OF THE PLAN.............................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">&#160;&#160;&#160;&#160;&#160;IV</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; MARGIN-LEFT: 60pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -60pt">PARTICIPANT ELIGIBILITY.......................................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">PAYMENT TO PARTICIPANTS....................................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">&#160;&#160;&#160;&#160;&#160;VI</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">DETERMINATION OF ANNUAL AWARD FUND.....</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">&#160;&#160;&#160;&#160;VII</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">CALCULATION OF AWARD........................................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Table I &#8211; 2017 Incentive Compensation Award................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">&#160;&#160;&#160;VIII</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">MISCELLANEOUS PROVISIONS................................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">ATTACHMENT A............................................................</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE I</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>OBJECTIVES</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 1.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">This plan is designed to reward employees for meeting or exceeding industry standards for profitability and adopted to achieve the following objectives:</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; MARGIN-LEFT: 49.5pt; LINE-HEIGHT: 12pt; TEXT-INDENT: -25.5pt">(a)&#160;&#160; Increase the profitability and growth of Community Trust Bancorp, Inc. in a manner which is consistent with other goals of the Company, its shareholders, and its employees,</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 24pt">(b)&#160;&#160; Motivate and reward employees who contribute to the success of the Company,</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Provide compensation which is competitive with other financial institutions,</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Attract and retain personnel of outstanding ability and encourage excellence in the performance of individual responsibilities,</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Allow the flexibility which permits revision and strengthening from time to time to reflect changing organizational goals and objectives.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE II</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>DEFINITIONS</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 2.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">As used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:</div>

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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: 21pt; VERTICAL-ALIGN: top; align: right">(a)</td>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Award Period" means one Fiscal Year.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Board" means the Board of Directors of Community Trust Bancorp, Inc.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">(c)&#160;&#160;&#160;"</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Company" means Community Trust Bancorp, Inc.</font></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;Compensation Committee&#8221; means the Compensation Committee of the Board of Directors.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Disability" means the total and permanent disability of a participant as defined by any Long&#8209;Term Disability Plans in effect for the Company and as thereafter may be amended.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Effective Date" means the date upon which the Plan shall become effective.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Fiscal Year" means the accounting period adopted by the Company for federal income tax purposes.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">&#8220;Participant&#8221; means a person designated by the Company to participate in the Plan.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Plan" shall mean the Company&#8217;s Incentive Compensation Plan.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">"Salary" or "Salaries" shall mean the base salary in effect for each participant as of the last pay period in December of the Award Period.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE III</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>ADMINISTRATION OF THE PLAN</u></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee shall administer the Plan and employ such other agents as may reasonably be required to administer the Plan.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee shall adopt such rules and regulations of general application as are beneficial for the administration of the Plan and shall make all discretionary decisions involving a Participant of the Plan.&#160; Said committee shall also have the right to interpret the Plan, to determine the Effective Date, and to approve all employees who are to participate in the Plan.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">A majority of the Compensation Committee shall constitute a quorum.&#160; The acts of a majority of the members present at any meeting at which there is a quorum shall be valid acts.&#160; Acts reduced to and approved in writing by a majority of said committee shall also be valid acts.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">All incentive compensation payable under the Plan shall be paid from the general assets of the Company.&#160; To the extent that any person acquires a right to receive payments under the Plan, such right shall be no greater than the right of any unsecured creditor of the Company.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.05</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee shall have the President and CEO of the Company send a written notice of such Plan to each selected Participant.&#160; No person shall have the right to be included in the Plan until receiving said notice in the form of Attachment "A" hereto.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.06</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">All costs and expenses involved in the administration of this Plan shall be paid by the Company.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.07</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Any determination or action of the Compensation Committee or the Board shall be final, conclusive and binding on all participants and their beneficiaries, heirs, personal representatives, executors, and administrators.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 3.08</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Board of Directors, in its sole discretion, may amend, modify or terminate the Plan at any time.&#160; The Compensation Committee shall also annually review the pre-determined performance standards and may amend such schedules in its sole discretion.&#160; Notwithstanding the foregoing, after the 90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of the year, the performance standards may not be amended in a manner which would increase the amount of incentive compensation payable over the amount which would have been payable under the performance standards previously established for such year.</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 13.7pt">
 &#160;</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">ARTICLE IV</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>PARTICIPANT ELIGIBILITY</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The following group shall participate in the Plan:</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">
<table id="z80c80ec1ee954beca0053d06226454af" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt"></td>
<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: 21pt; VERTICAL-ALIGN: top; align: right">(a)</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">Full-time employees who do not participate in another incentive plan.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Voluntary or involuntary termination of full&#8209;time employment of a Participant prior to the payment of incentive compensation awards for an Award Period will result in such Participant forfeiting any incentive compensation for that Award Period (except as provided in Section 4.03 herein).</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">If a Participant dies, retires, becomes disabled, or is granted a leave of absence during an Award Period, the Compensation Committee may, at its discretion or under such rules as it may have prescribed, award partial incentive compensation based on the level of achievement in relation to goals established for the Award Period.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 4.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">New employees of the Company shall participate in the Plan so long as eligibility to participate in the Plan came into existence no later than six (6) months after the beginning of said Award Period.&#160; If a person becomes eligible at a date later than six (6) months into an Award Period, such person shall not be a Participant under this Plan until the first day of the next Award Period.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE V</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>PAYMENT TO PARTICIPANTS</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 5.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The award payable under the Plan will be paid to participants within thirty days after the close of the Award Period.&#160; Awards are not earned until paid to Participants.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE VI</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>DETERMINATION OF ANNUAL AWARD FUND</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The target award fund as a percentage of employee salaries for an Award Period shall be determined annually by the Compensation Committee of the Board of Directors. <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">&#160; The target award may be changed by the Compensation Committee of the Board of Directors at any time at their discretion; provided, however, that the target award may not be increased after the 90</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-WEIGHT: bold">th</sup><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold"> day of the year.</font></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The actual amount of the Incentive Compensation Plan award shall be calculated according to a schedule comparing actual Return on Average Assets (ROAA) and Earnings Per Share (EPS) for the Award Period to a pre-determined performance standard.&#160; When performance is above the performance standard, the actual award fund is adjusted upward from the target award fund.<br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">In the event that the ROAA or EPS are not attained but the target net income is attained, the amount of the award under the Employee Incentive Plan shall be paid at the base level of target performance payment.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">There shall be a minimum acceptable performance beneath which no incentive awards are paid and a maximum above which there is no additional award paid to avoid excessive payout in the event of windfall profits.&#160; <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Said minimum and maximum shall be reviewed annually and amended when necessary at any time in the sole discretion of the Compensation Committee provided, however, that the minimum may not be reduced and the maximum may not be increased after the 90</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-WEIGHT: bold">th</sup><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold"> day of the year.</font></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 6.05</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">A Participant who is rated a &#8220;4&#8221; or &#8220;5&#8221; on the most recent Performance Appraisal and Development Plan shall not be eligible to receive an award under the Plan.</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 13.7pt">
 &#160;</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE VII</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>CALCULATION OF AWARD</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 7.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">Employees will earn an award determined by EPS growth and ROAA as shown below:</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">TABLE I</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>2017 INCENTIVE COMPENSATION AWARD</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<table id="zfa34f390561843c9a2eea2477bfcc2e1" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 31.94%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6" colspan="2">
<div style="LINE-HEIGHT: 12pt">&#160;</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">&#160;Target/ROAA</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.06%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Target Award</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 33%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #e6e6e6">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">Award as a % of Salary</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 15.96%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 15.97%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.16%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 35.06%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">50%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">2.00%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 15.96%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Base</div>
</td>
<td style="WIDTH: 15.97%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.22%</div>
</td>
<td style="WIDTH: 35.06%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">100%</div>
</td>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">4.00%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 15.96%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15.97%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.25%</div>
</td>
<td style="WIDTH: 35.06%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">106.00%</div>
</td>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">4.25%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 15.96%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15.97%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">1.28%</div>
</td>
<td style="WIDTH: 35.06%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">112.50%</div>
</td>
<td style="WIDTH: 33%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">4.50%</div>
</td>
</tr>
</table>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z5aaceb3aca0147c6ab2552a8647f4377" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, the targeted (base) ROAA is established as follows: ROAA of 1.22% and EPS of $2.81 per the Company&#8217;s budget.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="zaef839b8e6c04899888a6f6e63a127ac" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">For 2017, net income target is $49,618,000.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div>
<table id="z72391eeb7ce4403cb9c899cd039e3b16" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 12pt">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">These results are after accrual of the incentive.</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt">ARTICLE VIII</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12pt"><u>MISCELLANEOUS PROVISIONS</u></div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 8.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Compensation Committee may elect to remove unusual, extraordinary, or non-recurring items from the calculation of ROAA and EPS.</div>

<div style="LINE-HEIGHT: 12pt"><br style="LINE-HEIGHT: 12pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt"><u>Section 8.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt">The Company shall not merge into or consolidate with another entity or sell all or substantially all of its assets to another entity unless such other entity shall become obligated to perform the terms and conditions hereof relating to any awards already earned but not yet paid to the participant on his behalf.</div>

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<div id="DSPFPageFooter">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: Courier, 'Courier New', monospace; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"></div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>
</div>

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</div>

<div id="DSPFPageHeader"></div>
</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 24pt">ATTACHMENT A</div>

<div style="LINE-HEIGHT: 24pt"><br style="LINE-HEIGHT: 24pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 24pt"><u>NOTICE OF PARTICIPATION</u></div>

<div style="LINE-HEIGHT: 24pt"><br style="LINE-HEIGHT: 24pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 24pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font> is eligible for participation in the 2017 Plan Year for Community Trust Bancorp, Inc. Incentive Compensation Plan, such participant being subject to all of the terms and conditions of said Plan.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 24pt">BY:&#160; ___________________________________</div>

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<DOCUMENT>
<TYPE>EX-10.17
<SEQUENCE>5
<FILENAME>ctbi8k2017execcompex10-17.htm
<DESCRIPTION>CTBI 2017 EXECUTIVE COMPENSATION AND INCENTIVE PLAN 8-K EXHIBIT 10.17
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 1.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The 2016 Executive Committee Long-Term Incentive Compensation Plan is designed to reward members of the Executive Committee for Community Trust Bancorp, Inc.&#8217;s attainment of profitability on a long-term basis and is adopted to achieve the following objectives:</div>

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<table id="zc93e53eba6e44d98b92266c6f27e7577" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; MARGIN-TOP: 12.1pt" cellspacing="0" cellpadding="0">
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-TOP: 12.1pt; LINE-HEIGHT: 13.8pt">(a)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 12.1pt; LINE-HEIGHT: 13.8pt">Increase the profitability and growth of Community Trust Bancorp, Inc. in a manner which is consistent with other goals of Community Trust Bancorp, Inc., its stockholders, and its employees;</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt">Provide executive compensation which is competitive with other financial institutions;</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.9pt">Attract and retain personnel of outstanding ability and encourage excellence in the performance of individual responsibilities; and</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt">Motivate and reward members of the Executive Committee for their contribution to the long-term success of Community Trust Bancorp, Inc.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.65pt"><u>Section 2.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-RIGHT: 36pt">As used herein, the following words and phrases shall have the meanings below unless the context clearly indicates otherwise:</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 13.8pt">(a)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.8pt">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Annual Long-Term Incentive Plan&#8221; or &#8220;Plan&#8221; </font>means the 2017 Executive Committee Long-Term Incentive Compensation Plan set forth in this document and all amendments thereto.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.8pt">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Cumulative Net Income&#8221; </font>shall mean Community Trust Bancorp, Inc.&#8217;s cumulative net income for the three (3) years ending December 31, 2019, computed in accordance with generally accepted accounting principles, and giving effect to the accrual for payment of all incentive compensation.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.95pt; LINE-HEIGHT: 13.75pt">&#8220;<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Company&#8221; </font>means Community Trust Bancorp, Inc. and its subsidiaries.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt">(g)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.9pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">&#8220;Effective Date&#8221; </font>means January 1, 2017, the date on which the Plan becomes effective.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">&#8220;Fiscal Year&#8221; </font>means the accounting period adopted by the Company for federal income tax purposes.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.9pt">(j)</div>
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<tr>
<td style="WIDTH: 54pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt">(m)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">&#8220;Performance Unit&#8221; </font>shall have the meaning specified in the Company&#8217;s 2015 Stock Ownership Incentive Plan, with each Performance Unit to have a potential value of $1.00.</div>
</td>
</tr>
</table>
</div>

<div>
<table id="z6c6761c30a35469fb2342edb5c80e79d" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; MARGIN-TOP: 13.7pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 54pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.9pt">(n)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.7pt; LINE-HEIGHT: 13.9pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">&#8220;Retirement&#8221; </font>shall have the meaning specified in the Company&#8217;s 2015 Stock Ownership Incentive Plan.</div>
</td>
</tr>
</table>
</div>

<div>
<table id="z6cbadae8f7504ed087bb9a9ee7232469" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; MARGIN-TOP: 13.9pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 54pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt">(o)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">&#8220;Salary&#8221; or &#8220;Salaries&#8221; </font>means the base salary in effect for each Participant as of the last pay period in December 2017.</div>
</td>
</tr>
</table>
</div>

<div style="MARGIN-TOP: 13.9pt; LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div id="DSPFPageFooter" style="FONT-SIZE: 12pt; FONT-WEIGHT: bold; TEXT-ALIGN: center">ARTICLE III</div>
</div>
</div>
</div>

<div style="TEXT-ALIGN: center">
<div style="LINE-HEIGHT: 12.55pt"><br style="LINE-HEIGHT: 12.55pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-TOP: 0.3pt; LINE-HEIGHT: 13.65pt"><u>ADMINISTRATION OF THE PLAN</u></div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The Compensation Committee shall administer the Plan and employ such agents as may reasonably be required to administer the Plan.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The Compensation Committee shall adopt such rules and regulations of general application as are beneficial for the administration of the Plan and shall make all discretionary decisions involving a Participant in the Plan. The Compensation Committee shall also have the right to interpret the Plan, consistently with the applicable provisions of the 2015 Stock Ownership Incentive Plan, to determine the Effective Date, and to approve Participants in the Plan.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 0.25pt; LINE-HEIGHT: 13.65pt">A majority of the Compensation Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which there is a quorum shall be valid acts. Acts reduced to and approved in writing by a majority of the Compensation Committee shall also be valid acts.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">All incentive compensation payable under the Plan shall be paid from the general assets of the Company. To the extent that any person acquires a right to receive payments under the Plan, such right shall be no greater than the right of any unsecured creditor of the Company.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.05</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The Compensation Committee may authorize the Chairman of the Board, President and Chief Executive Officer of the Company to send a written notice of such Plan to each Participant, substantially in the form of Attachment A hereto, and to execute and deliver, on behalf of the Company, a Performance Unit Agreement granting Performance Units to the Participant consistent with the Plan. No person shall have rights under the Plan until receiving and executing a Performance Unit Agreement, also executed by the Company, substantially in the form of Attachment B hereto.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.06</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">All costs and expenses involved in the administration of the Plan shall be paid by the Company.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.07</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Any determination or action of the Compensation Committee or the Board shall be final, conclusive and binding on all Participants and their beneficiaries, heirs, personal representatives, executors, and administrators.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 3.08</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The Board of Directors, in its sole discretion, may amend, modify or terminate the Plan at any time. Notwithstanding the foregoing, after the ninetieth (90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup>) day of the year, the Performance Goals specified in Section 7.01 of this Plan may not be amended in a manner which would increase the amount of compensation payable pursuant to Performance Units over the amount which would have been payable under the Performance Goals previously established for such year.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">ARTICLE IV</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>PARTICIPANT ELIGIBILITY</u></div>

<div style="LINE-HEIGHT: 12.55pt"><br style="LINE-HEIGHT: 12.55pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 4.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The Participants in the Plan will be the members of the Executive Committee of the Company as of January 1, 2017.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 4.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Voluntary or involuntary termination of full-time employment of a Participant prior to the expiration of the Performance Period will result in such Participant forfeiting any payment for Performance Units for the Performance Period, except as provided in Sections 4.03 and 4.04 below.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 4.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">In the case of termination of employment by reason of death, Disability, or Retirement of a Participant prior to the expiration of the Performance Period, any then outstanding Performance Units of such Participant shall be payable in an amount equal to the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by a percentage equal to the percentage that would have been earned under the terms of the Performance Unit Agreement assuming that the rate at which the Performance Goal set forth in Section 7.01 below has been achieved, as of the date of such termination of employment, would have continued until the end of the Performance Period.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 4.04</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">If, within the 24-month period beginning on the date of a Change in Control, a Participant&#8217;s employment is terminated other than for Cause or by Participants for Good Reason (&#8220;Change in Control Termination Event&#8221;), any then outstanding Performance Units shall become fully vested and payable as soon as reasonably practicable, but no later than seventy-four (74) days following the Change in Control Termination Event, in an amount which is equal to the greater of (a) the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by a percentage equal to the percentage that would have been earned under the terms of the Performance Unit Agreement assuming that the rate at which the Performance Goal has been achieved as of the date of such Change in Control would have been continued until the end of the Performance Period; or (b) the maximum amount payable under the Performance Unit (as set forth in Section 7.01 below) multiplied by the percentage of the Performance Period completed by the Participant at the time of the Change in Control Termination Event.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 4.05</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">New employees of the Company and persons promoted during the Performance Period who were not eligible to participate in the Plan at the beginning of the Performance Period, but have become members of the Executive Committee, shall participate in the Plan so long as such eligibility came into existence no later than six (6) months after the beginning of the Performance Period. If a person becomes eligible at a date later than six (6) months into the Performance Period, such person shall not be a Participant under the Plan.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">ARTICLE V</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>PAYMENTS TO PARTICIPANTS</u></div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 5.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The maximum payment in cash or shares that can be made pursuant to Performance Units granted to any one Participant in any calendar year is $1,000,000. Subject to this limitation and such terms and conditions as the Compensation Committee may impose, Performance Units shall be payable: (a) within seventy-four (74) days following the end of the Performance Period during which the Participant attained at least the minimum acceptable level of achievement under the Performance Goal; or (b) in the event of a Change in Control Termination Event, as soon as reasonably practicable following the Change in Control Termination Event, but no later than seventy-four (74) days following the Change in Control Termination Event.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 5.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">A Participant may elect to defer payment of all or part of his or her compensation under the Performance Units so long as the Participant requests such deferred payment under the terms of the Company&#8217;s Voluntary Deferred Compensation Plan; provided, however that such election to defer payment is subject to, and shall be made in accordance with, U. S. Treas. Reg. 1.409A-2(b)(1).</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">ARTICLE VI</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>DETERMINATION OF TARGET AWARD FUND FOR PERFORMANCE UNITS</u></div>

<div style="LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="LINE-HEIGHT: 13.7pt"><u>Section 6.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The target award fund shall be generated by a percentage of the Salary of the CTBI Chief Executive Officer, the CTB Chief Executive Officer, and the other members of the Executive Committee, respectively. The target award fund shall be computed as shown in Table I below; however, the target award may be changed by the Compensation Committee of the Board of Directors at any time during the Performance Period at their discretion; provided, however, that the target award as a percentage of Salary may not be increased after the ninetieth (90<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup>) day of the 2016 calendar year.</div>

<div style="LINE-HEIGHT: 12.55pt"><br style="LINE-HEIGHT: 12.55pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">TABLE I</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>TARGET AWARD FUND</u></div>

<div style="LINE-HEIGHT: 13.7pt">
<div id="DSPFPageHeader"></div>

<div id="DSPFPageHeader" style="LINE-HEIGHT: 13.7pt"></div>

<div style="LINE-HEIGHT: 13.7pt">
<div id="DSPFPageHeader">&#160;</div>
</div>

<div style="LINE-HEIGHT: 13.7pt">
<table id="za5196bff1c374f40b81a8173e0a96956" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.9pt">PARTICIPANTS</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.9pt">SALARIES</div>

<div style="LINE-HEIGHT: 13.9pt">&#160;</div>

<div style="LINE-HEIGHT: 13.9pt">&#160;</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.9pt">TARGET AWARD<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>EXPRESSED AS A<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> % OF SALARY</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 25.37%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.9pt">TARGET AWARD<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> FUND</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">CTBI CEO</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">X 40%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 25.37%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">$</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">CTB CEO</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">$</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">X 30%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 25.37%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">$</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">All Other Members of<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>the Executive<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Committee</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">$</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">(aggregate salaries)*</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 24.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">X 20%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 25.37%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">$</div>
</td>
</tr>
</table>

<div style="COLOR: #000000; TEXT-ALIGN: justify; FONT: 12pt/12pt 'Times New Roman', serif; MARGIN-LEFT: 3.6pt; MARGIN-TOP: 0.85pt; MARGIN-RIGHT: 7.2pt">*<font style="FONT-SIZE: 10pt">The aggregate Salaries may be increased to reflect the Salaries of any new members of the Executive Committee to the extent permitted under Section 4.05 above.</font></div>

<div style="LINE-HEIGHT: 13.7pt">&#160;</div>
</div>

<div style="LINE-HEIGHT: 13.7pt"><u>Section 6.02</u></div>
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The actual amount of payments under the Performance Units shall be calculated according to a schedule comparing Cumulative Net Income to the Performance Goals described in Section 7.01 below. When performance meets established Performance Goals, the award fund will be adjusted according to the table shown in Section 7.01 below.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 6.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Subject to Sections 4.03 and 4.04 above, there shall be a minimum acceptable performance beneath which no amounts may be paid under the Performance Units (sometimes referred to as the &#8220;threshold&#8221;) and a maximum performance above which there is no additional amount paid to avoid excessive payout in the event of windfall profits. <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Such minimum and maximum may be amended when necessary at any time in the sole discretion of the Compensation Committee; provided, however, that the minimum may not be reduced and the maximum may not be increased after the ninetieth (90</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-WEIGHT: bold">th</sup><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">) day of the 2017 calendar year.</font></div>

<div style="LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="FONT-SIZE: 12pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">ARTICLE VII</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>CALCULATION OF PERFORMANCE UNIT PAYMENTS</u></div>

<div style="LINE-HEIGHT: 12.55pt"><br style="LINE-HEIGHT: 12.55pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Section 7.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">The amount payable to the Participants under the Performance Units is determined based on Cumulative Net Income, as shown in Table II below:</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">TABLE II</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>2017 PERFORMANCE GOALS</u></div>

<div style="LINE-HEIGHT: 13.7pt">&#160;</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">
<table id="z34c8ca60d4a94ba2acc1bc997c14da8e" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">CUMULATIVE NET<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> INCOME</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">Award as a % of<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Target Award</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">Award as a % of<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>CTBI Chief Executive<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Officer Salary</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.65pt">Award as a % of CTB CEO</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.65pt">Salary</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.65pt">Award as a %<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>of Salary of All<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>Other<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>Members of<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>the Executive<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Committee</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.5pt">90% of Target Cumulative Net Income (<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Minimum</font>)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">25%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">10.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">7.50%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">5.00%</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-RIGHT: 3.6pt">93% of Target Cumulative</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.4pt; MARGIN-RIGHT: 3.6pt">Net Income</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">50%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">20.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">15.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">10.0%</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.75pt; MARGIN-RIGHT: 3.6pt">96% of Target Cumulative</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.15pt; MARGIN-RIGHT: 3.6pt">Net Income</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">75%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">30.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">22.5%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">15.0%</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.5pt">Target Cumulative Net Income (Per Schedule 1)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">100%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">40.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">30.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">20.0%</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.65pt">103% of Target Cumulative Net Income</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">120%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">48.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">36.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">24.0%</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">107% of Target Cumulative Net Income</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">135%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">54.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">40.5%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">27.05%</div>
</td>
</tr>

<tr>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 30.28%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.9pt">110.0% of Target Cumulative Net Income</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: left; LINE-HEIGHT: 13.75pt; MARGIN-RIGHT: 5.3pt">(<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Maximum</font>)</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">150%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">60.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">45.0%</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 17.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.75pt">30.0%</div>
</td>
</tr>
</table>

<div style="MARGIN-TOP: 0.25pt; LINE-HEIGHT: 13.75pt"><br style="LINE-HEIGHT: 13.75pt">
</div>

<div id="DSPFPageFooter"></div>

<font style="FONT-SIZE: 12pt; FONT-WEIGHT: bold">ARTICLE VIII</font></div>

<div style="MARGIN-TOP: 0.25pt; LINE-HEIGHT: 13.75pt"><br style="LINE-HEIGHT: 13.75pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-LEFT: 3.6pt; MARGIN-TOP: 0.25pt; LINE-HEIGHT: 13.75pt"><u>MISCELLANEOUS PROVISIONS</u></div>

<div style="LINE-HEIGHT: 12.55pt"><br style="LINE-HEIGHT: 12.55pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 8.01</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">The Compensation Committee may elect to remove unusual, extraordinary or non-recurring items from the calculation of Cumulative Net Income.</div>

<div style="LINE-HEIGHT: 13.7pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 8.02</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Payments pursuant to the Performance Units shall be subject to recoupment by the Company to the extent required by applicable laws and regulations.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Section 8.03</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">The Company shall not merge into or consolidate with another entity or sell substantially all of its assets to another entity unless such other entity shall become obligated to perform the terms and conditions hereof relating to any amounts earned under Performance Units but not yet paid to the Participant.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">SCHEDULE A</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">2017 Plan</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><u>CUMULATIVE NET INCOME TARGETS</u></div>

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<table id="zda6ef0d05fbe49a3bb2cd054c81d2472" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.15pt">CUMULATIVE NET INCOME TARGETS</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.15pt">% OF UNITS EARNED</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.85pt; MARGIN-RIGHT: 5.3pt">$138 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.85pt; MARGIN-RIGHT: 6pt">25%</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.1pt; MARGIN-RIGHT: 5.3pt">$142 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.1pt; MARGIN-RIGHT: 6pt">50%</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.1pt; MARGIN-RIGHT: 5.3pt">$147 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.1pt; MARGIN-RIGHT: 6pt">75%</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.1pt; MARGIN-RIGHT: 5.3pt">$153 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.1pt; MARGIN-RIGHT: 6pt">100%</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.15pt; MARGIN-RIGHT: 5.3pt">$158 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.15pt; MARGIN-RIGHT: 6pt">120%</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.65pt; MARGIN-RIGHT: 5.3pt">$164 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 13.65pt; MARGIN-RIGHT: 6pt">135%</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 50.03%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.15pt; MARGIN-RIGHT: 5.3pt">$168 Million</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; WIDTH: 49.97%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; TEXT-ALIGN: center; LINE-HEIGHT: 14.15pt; MARGIN-RIGHT: 6pt">150%</div>
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