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QCR HOLDINGS, INC.
EXECUTIVE DEFERRED COMPENSATION PLAN
( Effective October 23,
2008)
THIS PARTICIPATION AGREEMENT (the “
Participation Agreement ”) is entered into as of this
24 th
day of October, 2008 by and between
QCR Holdings, Inc. (the “ Employer ”) and Todd
A. Gipple , an
executive of the Employer (the “ Participant
”).
WHEREAS, QCR Holdings, Inc. (“ QCR
”) has adopted the QCR Holdings Executive Deferred
Compensation Plan (Effective October 23, 2008) (the “
Plan ”), the Employer provides for participation in
such Plan and the Administrator has determined that the Participant
is eligible to participate in the Plan on the terms and conditions
set forth in this Participation Agreement and the Plan.
NOW, THEREFORE, in consideration of the
foregoing and the agreements and covenants set forth herein, the
parties agree as follows:
1. Definitions . Except as
otherwise specifically provided herein, or unless the context
otherwise requires, the terms used in this Participation Agreement
shall have the same meanings as set forth in the Plan.
2. Incorporation of Plan . The
Plan, a copy of which is attached hereto as Exhibit A , is
hereby incorporated into this Participation Agreement as if fully
set forth herein, and the parties hereby agree to be bound by all
of the terms and provisions contained in the Plan. The Participant
hereby acknowledges receipt of a copy of the Plan and, subject to
the foregoing, confirms the Participant’s understanding and
acceptance of all of the terms and conditions contained therein.
The Plan and this Participation Agreement supersede and replace in
their entirety any prior agreements relating to such
benefits.
3. Effective Date of Participation
. The effective date of the Participant’s participation in
the Plan shall be January 1, 2002 (the “
Participation Date &rdquo
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