North Arkansas Bancshares Inc Sample Contracts

North Arkansas Bancshares Inc – RETIREMENT PLAN FOR DIRECTORS (September 19th, 1997)

Exhibit 10.3 NEWPORT FEDERAL SAVINGS BANK RETIREMENT PLAN FOR DIRECTORS The Board of Directors of Newport Federal Savings Bank has adopted this Retirement Plan for Directors, effective May 29, 1997, in order to provide competitive compensation for its Directors, to attract, retain, and motivate its Directors, and to encourage the long-term financial success of the Bank through a performance-based benefit formula. ARTICLE I Definitions ----------- The following words and phrases, when used in the Plan with an initial capital letter, shall have the meanings set forth below unless the context clearly indicates otherwise. "Account" shall mean a bookkeeping account maintained by the Bank in the name of the Participant. "Affiliate" shall mean

North Arkansas Bancshares Inc – 1998 STOCK OPTION AND INCENTIVE PLAN (September 19th, 1997)

10.1 NORTH ARKANSAS BANCSHARES, INC. 1998 STOCK OPTION AND INCENTIVE PLAN 1. Purpose of the Plan. The purpose of this Plan is to advance the interests of the Company through providing select key Employees and Directors of the Bank, the Company, and their Affiliates with the opportunity to acquire Shares. By encouraging such stock ownership, the Company seeks to attract, retain and motivate the best available personnel for positions of substantial responsibility and to provide additional incentives to Directors and key Employees of the Company or any Affiliate to promote the success of the business. 2. Definitions. As used herein, the following definitions shall apply. (a) "Affiliate" shall mean any "parent corporation" or "subsidiary corporation" of the Company, as such terms are defined in Section 424(e) and (f), respectively,