Non-Employee Directors Deferred Income Plan

(a)    “ Account ” shall mean the interest of a Participant in the Plan as represented by the bookkeeping entries kept by the Bank for each Participant. Each Participant’s interest may be divided into one or more separate accounts or sub-accounts. The Account reflects the contributions made, gains, losses, income and expenses allocated thereto, as well as, distributions or any other withdrawals. The existence of an account or bookkeeping entries for a Participant (or his Designated Beneficiary) does not create, suggest or imply that a Participant, Designated Beneficiary, or other person claiming through them under the Plan, has a beneficial interest in any assets of the Employer.

(b)    “ Affiliate ” shall mean partnership, corporation, company, joint venture or other business entity, in which the Bank has a direct or indirect ownership interest of more than fifty percent (50%), or the Bank is owned by an entity that has an ownership interest in such other entity of more than fifty percent (50%).

(c)    “ Bank ” shall mean South Carolina Bank & Trust.

(d)    “ Board ” shall mean the Bank’s Board of Directors.

(e)    “ Committee ” shall mean the compensation committee of the Board.

(f)    “ Deemed Crediting Option ” shall mean the options made available to Plan Participants by the Bank for the purposes of determining the proper crediting of gains and losses, and income and expenses to each Participant’s Account, subject to procedures and requirements established by the Plan Administrator. A Participant may reallocate his Account among such Deemed Crediting Options periodically at such frequency and upon such terms as the Plan Administrator may determine from time to time. The Bank reserves the right in its sole and exclusive discretion to substitute, eliminate and otherwise change the options made available to Plan Participants, as well as the right to establish rules and procedures for the selection and offering of the Deemed Crediting Option.

(g)    “ Deemed Crediting Option Election Form ” shall mean the written agreement of a Participant in which the Deemed Crediting Option is exercised. The Deemed Crediting Option Election Form shall be in such form or forms as may be prescribed by the Plan Administrator, filed with the Bank, according to procedures and at such times as established by the Plan Administrator.

(h)    " Designated Beneficiary " or " Beneficiary " shall mean the person, persons or trust specifically named to be a direct or contingent recipient of all or a portion of a Participant's benefits under the Plan in the event the Participant's death prior to the distribution of his full balance in his Account. Such designation of a recipient or recipients may be made and amended, at the Participant's discretion, on the Designated Beneficiary Form and according to the procedures established by the Plan Administrator. No beneficiary designation or change of Beneficiary shall become effective until received and acknowledged by the Employer. In the event a Participant does not have a beneficiary properly designated, the beneficiary under the Plan shall be the Participant's estate.

(i)    “ Designated Beneficiary Form ” shall mean the written agreement of a Participant in which the Participant elects the Designated Beneficiary. In the event that the Participant designates someone other than their spouse as Beneficiary for at least fifty percent (50%) of his benefits under the Plan, the signature of such spouse is required on this form. The Designated Beneficiary Form shall be in such form or forms as may be prescribed by the Plan Administrator, filed with the Bank, according to procedures and at such times as established by the Plan Administrator.

(j)    “ Distribution Election Form ” shall mean the written agreement of a Participant in which the Participant elects the manner in which distributions will be made from the Account. The Distribution Election Form shall be in such form or forms as may be prescribed by the Plan Administrator, filed with the Bank, according to procedures and at such times as established by the Plan Administrator.

(k)    “ Deferral Election Form ” shall mean that written agreement of a Participant. The Deferral Election Form shall be in such form or forms as may be prescribed by the Plan Administrator, filed with the Bank, according to procedures and at such times as established by the Plan Administrator. Among other information the Plan Administrator may require of the Participant for proper administration of the Plan, such agreement shall establish the Participant’s election to defer Retainers and Meeting Fees for a Plan Year under the Plan and the amount of the deferral into the Plan for the Plan Year.

(l)    “ In-Service Distribution ” shall mean a distribution to a Participant prior to Separation from Service.

(m)    “ Meeting Fees ” shall mean Board or Board committee meeting fees payable to a Non-Employee Director in cash.

(n)    “ Non-Employee Directors ” shall mean members of the Board of the Bank who are not employees of the Bank or an Affiliate.

(o)    “ Participant ” shall mean a person who (1) is a Non-Employee Director; (2) is subject to United States income tax laws; and (3) elects to participate in the Plan.

(p)    “ Plan ” shall mean South Carolina Bank & Trust Non-Employee Directors Deferred Income Plan as amended and restated.

(q)    “ Plan Year ” shall mean the twelve (12) consecutive month period constituting a calendar year, beginning on January 1 and ending on December 31. However, in any partial year of the Plan that does not begin on January 1, “Plan Year” shall also mean the remaining partial year ending on December 31. If the Plan is terminated, such Plan Year shall begin on January 1 and end on the date of termination.

(r)    “ Plan Administrator ” shall mean the one or more employees of the Bank as so designated by the Committee that have general operation and administration duties of the Plan.

(s)    “ Retainers ” shall mean any retainer payable in cash for service as a Non-Employee Director, including any such retainer for service as chairman of the Board or as a chair or member of a Board committee.

(t)    “ Separation of Service ” shall mean ceasing to perform any type of service for the Bank or an Affiliate, when the Bank and all Affiliates, as well as, the Participant do not contemplate or anticipate any future service by the Participant for the Bank or any Affiliate.

(u)    “ Unforeseeable Emergency ” shall mean a severe financial hardship of the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Section 152(a) of the I.R.C.) of the Participant, loss of the Participant's property due to casualty or other similar, extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, or as otherwise defined under the Treasury Regulations issues pursuant to Section 409A of the I.R.C. The circumstances that will constitute an Unforeseeable Emergency will depend upon the facts of each case, as determined by the Plan Administrator in its discretion, but in any case payment may not be made, to the extent that such hardship is or may be relieved: (i) through reimbursement or compensation by insurance or otherwise; (ii) by liquidation of the Participant's assets to the extent the liquidation of such assets would not itself cause severe financial hardship; or (iii) by cessation of deferrals under the Plan.