Atlantic Southern Financial Group, Inc. Sample Contracts

GUARANTEE AGREEMENT by and between NSB HOLDINGS, INC. and WILMINGTON TRUST COMPANY Dated as of March 30, 2005
Guarantee Agreement • May 4th, 2005 • NSB Holdings, Inc. • Savings institution, federally chartered • New York

This GUARANTEE AGREEMENT (this “Guarantee”), dated as of March 30, 2005, is executed and delivered by NSB Holdings, Inc., a Georgia corporation (the “Guarantor”), and Wilmington Trust Company, a Delaware banking corporation, as trustee (the “Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to time of the Capital Securities (as defined herein) of New Southern Statutory Trust I, a Delaware statutory trust (the “Issuer”).

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AGREEMENT AND PLAN OF SHARE EXCHANGE
Agreement and Plan of Share Exchange • January 7th, 2005 • NSB Holdings, Inc. • Georgia

THIS AGREEMENT AND PLAN OF SHARE EXCHANGE (the “Plan”), made and entered into as of the 26th day of January, 2004, between New Southern Bank (the “Bank”), a state bank organized under the laws of the State of Georgia, and NSB Holdings, Inc. (the “Company”), a Georgia corporation.

EMPLOYMENT AGREEMENT
Employment Agreement • March 30th, 2009 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT is made as of the day of , 2008, by and between ATLANTIC SOUTHERN BANK, a bank organized under the laws of the State of Georgia (the “Bank”) and MARK A. STEVENS, a resident of the State of Georgia (the “Executive”).

Written Agreement by and between
Atlantic Southern Financial Group, Inc. • April 7th, 2010 • Savings institution, federally chartered

WHEREAS, Atlantic Southern Financial Group, Inc., Macon, Georgia (“Atlantic”), a registered bank holding company, owns and controls Atlantic Southern Bank, Macon, Georgia (the “Bank”), a state chartered nonmember bank, and a nonbank subsidiary;

TERMINATION OF THE ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK) SALARY CONTINUATION AGREEMENT DATED DECEMBER 15, 2005 FOR CAROL W. SOTO
Continuation Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

Pursuant to Section 7.2 of the Salary Continuation Agreement (the “Agreement”) by and between Atlantic Southern Bank (f/k/a New Southern Bank), a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Carol W. Soto (the “Executive”), the Company and the Executive hereby agree to terminate the Agreement.

EMPLOYMENT AGREEMENT
Employment Agreement • March 31st, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT (the “Agreement”) is made as of the 3rd day of December, 2009, by and among ATLANTIC SOUTHERN FINANCIAL GROUP, INC., a bank holding company incorporated under the laws of the State of Georgia (the “Company”), ATLANTIC SOUTHERN BANK, a bank chartered under the laws of the State of Georgia (the “Bank”) (collectively, the Bank and the Company are referred to hereafter as the “Employer”), and MARK A. STEVENS, a resident of the State of Georgia (the “Employee”).

WARRANT AGREEMENT
Warrant Agreement • January 19th, 2006 • NSB Holdings, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT is made and entered into as of the day of , 2001, by and between NEW SOUTHERN BANK, a Georgia banking corporation (the “Bank”), and (the “Warrant Holder”).

FIRST AMENDMENT TO THE ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK) SALARY CONTINUATION AGREEMENT DATED DECEMBER 15, 2005 FOR CAROL W. SOTO
Continuation Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

THIS FIRST AMENDMENT is adopted this day of , 20 , by and between ATLANTIC SOUTHERN BANK (f/k/a New Southern Bank), a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Carol W. Soto (the “Executive”).

EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • NSB Holdings, Inc. • Savings institution, federally chartered • Georgia

This AGREEMENT is made as of the day of November, 2001, by and between NEW SOUTH BANK (the “Bank”), a proposed state bank, (in organization); and GARY HALL, a resident of the State of Georgia (the “Executive”).

AGREEMENT AND PLAN OF REORGANIZATION BY AND AMONG ATLANTIC SOUTHERN FINANCIAL GROUP, INC. ATLANTIC SOUTHERN BANK AND FIRST COMMUNITY BANK OF GEORGIA Dated as of September 15, 2006
Agreement and Plan of Reorganization • September 19th, 2006 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT AND PLAN OF REORGANIZATION (this “Agreement”) is made and entered into as of August , 2006, by and among ATLANTIC SOUTHERN FINANCIAL GROUP, INC. a Georgia corporation, (“Atlantic Southern”), ATLANTIC SOUTHERN BANK, a Georgia chartered bank (“ASB”), and FIRST COMMUNITY BANK OF GEORGIA (“FCB”), a Georgia banking association.

AGREEMENT AND PLAN OF MERGER by and among CENTERSTATE BANKS OF FLORIDA, INC. CENTERSTATE BANK MID FLORIDA ATLANTIC SOUTHERN FINANCIAL GROUP, INC. and ATLANTIC SOUTHERN BANK Dated as of August 10, 2007
Agreement and Plan of Merger • August 13th, 2007 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

This AGREEMENT AND PLAN OF MERGER (this “Agreement”) is made and entered into as of the 10th day of August, 2007, by and among ATLANTIC SOUTHERN FINANCIAL GROUP, INC., a Georgia corporation (“ASFG”), ATLANTIC SOUTHERN BANK, a Georgia state bank and wholly-owned subsidiary of ASFG (“ASB”), CENTERSTATE BANKS OF FLORIDA, INC., a Florida corporation (“CSB”) and CENTERSTATE BANK MID FLORIDA, a Florida state bank and wholly-owned subsidiary of CSB (“Target”).

NEW SOUTHERN BANK EXECUTIVE BONUS AGREEMENT
Executive Bonus Agreement • January 19th, 2006 • NSB Holdings, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT is adopted this 1st day of January, 2005, by and between NEW SOUTHERN BANK a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Brandon L. Mercer (the “Executive”).

AMENDMENT TO THE NEW SOUTHERN BANK INCENTIVE STOCK OPTION AWARD
2001 Option Agreement • October 11th, 2005 • NSB Holdings, Inc. • Savings institution, federally chartered

THIS AMENDMENT to the Incentive Stock Option Award by and between NEW SOUTHERN BANK (the “Bank”), a bank organized under the laws of the State of Georgia, and MARK A. STEVENS (the “Optionee”) is made as of October 6, 2005.

AGREEMENT AND PLAN OF REORGANIZATION BY AND AMONG ATLANTIC SOUTHERN FINANCIAL GROUP, INC., ATLANTIC SOUTHERN BANK, SAPELO BANCSHARES, INC., AND SAPELO NATIONAL BANK Dated as of July 26, 2006
Agreement and Plan of Reorganization • July 28th, 2006 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT AND PLAN OF REORGANIZATION (this “Agreement”) is made and entered into as of July 26, 2006, by and among ATLANTIC SOUTHERN FINANCIAL GROUP, INC. (“Purchaser”), a Georgia corporation, and ATLANTIC SOUTHERN BANK (“Purchaser Bank”), a Georgia chartered bank on one hand, and SAPELO BANCSHARES, INC. (“Target”), a Georgia corporation and SAPELO NATIONAL BANK (“Target Bank”), a national banking association on the other hand.

EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • NSB Holdings, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT is made as of the 1st day of December, 2001, by and between NEW SOUTHERN BANK (the “Bank”), a proposed state bank being organized under the laws of the State of Georgia; and MARK A. STEVENS, a resident of the State of Georgia (the “Executive”).

RETIREMENT AGREEMENT
Supplemental Executive • March 31st, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

This Supplemental Executive Retirement Agreement (this “Agreement”) is made as of the 30th day of March, 2010, by and between Atlantic Southern Bank, a bank chartered under the laws of the State of Georgia (the “Employer”), and Ed Loomis, a resident of the State of Georgia (“Executive”).

TERMINATION OF THE ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK) SALARY CONTINUATION AGREEMENT DATED DECEMBER 15, 2005 FOR BRANDON L. MERCER
Continuation Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

Pursuant to Section 7.2 of the Salary Continuation Agreement (the “Agreement”) by and between Atlantic Southern Bank (f/k/a New Southern Bank), a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Brandon L. Mercer (the “Executive”), the Company and the Executive hereby agree to terminate the Agreement.

FIRST AMENDMENT TO THE ATLANTIC SOUTHERN BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT DATED MARCH 30, 2010 FOR ED LOOMIS
Supplemental Executive Retirement Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

THIS FIRST AMENDMENT is adopted this day of , 20 , by and between ATLANTIC SOUTHERN BANK, a state-chartered commercial bank located in Macon, Georgia (the “Employer”), and Ed Loomis (the “Executive”).

FIRST AMENDMENT TO THE ATLANTIC SOUTHERN BANK (F/K/A NEW SOUTHERN BANK) SALARY CONTINUATION AGREEMENT DATED DECEMBER 15, 2005 FOR BRANDON L. MERCER
Continuation Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

THIS FIRST AMENDMENT is adopted this day of , 20 , by and between ATLANTIC SOUTHERN BANK (f/k/a New Southern Bank), a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Brandon L. Mercer (the “Executive”).

ATLANTIC SOUTHERN FINANCIAL GROUP, INC. RESTRICTED STOCK AWARD
Restricted Stock Award • March 31st, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

This RESTRICTED STOCK AWARD (the “Award”) is made and entered into as of the 30th day of March, 2010 by and between Atlantic Southern Financial Group, Inc. (the “Company”), a Georgia corporation, and Edward P. Loomis, Jr. (the “Employee”).

TERMINATION OF THE ATLANTIC SOUTHERN BANK SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT DATED MARCH 30, 2010 FOR ED LOOMIS
Supplemental Executive Retirement Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

Pursuant to Section 3 of the Supplemental Executive Retirement Agreement (the “Agreement”) by and between Atlantic Southern Bank, a state-chartered commercial bank located in Macon, Georgia (the “Employer”), and Ed Loomis (the “Executive”), the Company and the Executive hereby agree to terminate the Agreement.

EMPLOYMENT AGREEMENT
Employment Agreement • January 19th, 2006 • NSB Holdings, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT is made as of the 10th day of July, 2003, by and between NEW SOUTHERN BANK (the “Bank”); and CAROL SOTO, a resident of the State of Georgia (the “Executive”).

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FIRST AMENDMENT TO THE ATLANTIC SOUTHERN BANK EXECUTIVE BONUS AGREEMENT
Executive Bonus Agreement • March 30th, 2009 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

THIS FIRST AMENDMENT is made as of the day of December, 2008, by and between Atlantic Southern Bank, a commercial state-chartered bank located in Macon, Georgia (the “Company”) (formerly known as “New Southern Bank”) and Brandon L. Mercer (the “Executive”).

FIRST AMENDMENT TO THE ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK) SALARY CONTINUATION AGREEMENT DATED DECEMBER 15, 2005 FOR MORRIS A. STEVENS
Continuation Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

THIS FIRST AMENDMENT is adopted this day of , 20 , by and between ATLANTIC SOUTHERN BANK (f/k/a New Southern Bank), a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Morris A. Stevens (the “Executive”).

FEDERAL DEPOSIT INSURANCE CORPORATION WASHINGTON, D.C.
Atlantic Southern Financial Group, Inc. • November 10th, 2009 • Savings institution, federally chartered

Subject to the acceptance of this STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST (“CONSENT AGREEMENT”) by the Federal Deposit Insurance Corporation (“FDIC”), it is hereby stipulated and agreed by and between a representative of the Legal Division of the FDIC, the Commissioner (“Commissioner”) for the State of Georgia, Department of Banking and Finance and Atlantic Southern Bank, Macon, Georgia (“Bank”), through its board of directors, as follows.

EMPLOYMENT AGREEMENT
Employment Agreement • March 31st, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered • Georgia

THIS AGREEMENT is made as of the 30th day of March, 2010, by and among ATLANTIC SOUTHERN FINANCIAL GROUP, INC., a bank holding company incorporated under the laws of the State of Georgia (the “Company”), ATLANTIC SOUTHERN BANK, a bank chartered under the laws of the State of Georgia (the “Bank”) (collectively, the Bank and the Company are referred to hereafter as the “Employer”), and EDWARD P. LOOMIS, JR., a resident of the State of Georgia (the “Employee”).

TERMINATION OF THE ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK) SALARY CONTINUATION AGREEMENT DATED DECEMBER 15, 2005 FOR MORRIS A. STEVENS
Continuation Agreement • November 2nd, 2010 • Atlantic Southern Financial Group, Inc. • Savings institution, federally chartered

Pursuant to Section 7.2 of the Salary Continuation Agreement (the “Agreement”) by and between Atlantic Southern Bank (f/k/a New Southern Bank), a state-chartered commercial bank located in Macon, Georgia (the “Company”), and Morris A. Stevens (the “Executive”), the Company and the Executive hereby agree to terminate the Agreement.

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