Pride, Inc. 401(k) Profit Sharing Plan Highlights

Eligibility

All Contributions: You must work 1,000 hours within 12 months and be at least age 21 to contribute to the Plan.

Initial Entry Dates

All Contributions After completing the eligibility requirements, you will enter the Plan on the following January 1 or July 1, whichever comes first.

Contributions 

Employee Pre-Tax Contribution Limits: Up to 100% of your compensation, not to exceed $15,500. If you are at least age 50 by December 31, you may contribute an additional $5,000 in catch-up contributions (2008 limits).

Changes to Contribution Amounts: Changes are permitted quarterly upon written notification to the Employer.

Employer Matching Contributions: Your Employer will match 100% on the first 4% of compensation contributed.

Employer Discretionary Contributions: You must work 1,000 hours during the year and be employed on June 30 to receive the discretionary contribution, if one is made.

Rollover Contributions: A tax-free rollover from a former Employer's qualified retirement plan or a traditional IRA is permitted prior to satisfying the Plan's eligibility requirements.

Vesting: You are always 100% vested in your contributions and roll-over balances. Employer matching and discretionary contributions vest according to your "years of service." A Year of Service is a year that you work at least 1,000 hours.

Year(s) of Service                                Vesting Amount

1…………………………………………………….25%
2…………………………………………………….50%
3…………………………………………………….75%
4……………………………………………………100%

Distributions

Distributions: During employment you may withdraw from your account due to hardship or upon reaching age 59 1/2. You may also withdraw your full account balance upon termination of employment, death or disability.

Investment Options

Investment Options: Information about the investment options for this Plan is included in the packet.  Prospectuses are available on the individual funds website or by logging on to your account at www.statebanks.com.  Changes to investment instructions can be made online or by calling either the SBT Customer Service Line or voice response unit (VRU).

Refer to the Summary Plan Description for detailed information about the Plan.