| 1. | Employment and      Term.  The Bank shall employ Employee pursuant to the      terms of this Agreement to perform the services specified in Section 2      herein. The initial term of employment shall be for a period of twelve      (12) months, commencing on the Effective Date. Upon each new day of the      twelve (12) month period of employment from the Effective Date until the      Employee's 65th (sixty-fifth) birthday, the term of this Agreement shall      be automatically extended for one (1) additional day, to be added to the      end of the then-existing twelve (12) month term. Accordingly, at all times      prior to (i) the Employee's attaining age sixty-five (65) or (ii) a Notice      of Termination, as defined in Section 9(b) (or an actual termination) the      term of this Agreement shall be twelve (12) full months. However, either      Party may terminate this Agreement by giving the other Party written      notice of intent not to renew. The automatic extensions of the term of      this Agreement shall immediately be suspended upon an employment      termination by reason of death or disability or retirement, or an      employment termination made voluntarily by the Employee (other than for      Good Reason as defined in Section 9(d), or involuntarily for Just Cause as      defined in Section 9(b)). Additionally, the Board shall, on an annual      basis, review Employee's performance to determine whether this Agreement      should continue to be extended. The Board's action will be reflected in      the Board's meeting minutes. |
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|   | (a) | In      the event the involuntary termination is for Just Cause, this Agreement      shall terminate immediately upon delivery to the Employee of such Notice      of Termination.  Such a termination for Just Cause shall result      in the termination of all rights and obligations of the Parties under this      Agreement. |
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|   | (b) | In      the event the involuntary termination is without Just Cause, the Employee      shall be entitled to receive the severance benefits set forth in Sections      9(f) and 9(g) herein. |
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| 2. | Position, Responsibilities and      Duties.  During the term of this Agreement, Employee      shall serve in the following capacities and shall fulfill the following      responsibilities and duties: |
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|   | (a) | Specific      Duties:  Employee shall serve as the Bank's Chief Financial      Officer or in such other position as shall be designated by the Board of      Directors in its sole discretion.  In such capacity, Employee      shall have the same powers, duties and responsibilities of supervision and      management of the Bank usually accorded to Chief Financial Officers of      similar financial institutions.  In addition, Employee shall use      her best efforts to perform the duties and responsibilities enumerated in      this Agreement and any other duties assigned to Employee by the Board and      to utilize and develop contacts and customers to enhance the business of      the Bank.  Specifically, Employee shall devote her full business      time and attention and use her best efforts to accomplish and fulfill the      following duties and responsibilities, as well as other duties assigned to      Employee from time to time by theBoard: |
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|   | (i) | serve      as the Chief Financial Officer of theBank; |
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|   | (ii) | perform      such executive services for the Bank as may be consistent with her titles      or be assigned to her by the Board; |
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|   | (iii) | serve      on such  committees as appointed by the Board from time to      time; |
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|   | (iv) | keep      the other executives of the Bank and the Board informed of important      developments concerning the Bank's activities, industry developments and      regulatory initiatives affecting theBank; |
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|   | (v) | maintain      adequate expense records relating to Employee's activities on behalf of      the Bank; |
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|   | (vi) | coordinate      with the Bank's other executives to the extent necessary to further the      business of the Bank, keeping in compliance with government laws and      regulations and otherwise keeping the Bank in as good a financial and      legal posture as possible; and |
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|   | (vii) | conduct      and undertake all other activities, responsibilities, and duties normally      expected to be undertaken and accomplished by a Chief Financial Officer of      a financial institution similar in scope and operation to the Bank's      business. |
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|   | (viii) | any      additional duties specific to Chief Financial  Officer. |
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|   | (b) | General      Duties:  During the term of this Agreement, and except for      illness, vacation periods and leaves of absences, Employee shall devote      all of her working time, attention, skill and best efforts to accomplish      and faithfully perform all of the duties assigned to Employee on a      full-time basis.  Employee shall, at all times, conduct herself      in a manner that will reflect positively upon the      Bank.  Employee shall obtain such licenses, certificates,      accreditations and professional memberships and designations as the Bank      may reasonably require.  Employee shall join and maintain      membership in such social and civic organizations as Employee or the Board      deems appropriate to foster the Bank's contacts and business network in      the community. |
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| 3. | Compensation.  During      the term of this Agreement, Employee shall be compensated as      follows: |
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|   | (a) | Base      Salary:  Employee shall receive an annual salary of $145,000      (the "Base Salary") in equal installments, in accordance with the Bank's      standard payroll practices, reduced appropriately by deductions for      federal income withholding taxes, social security taxes and other      deductions required by applicable laws.  The Bank will in good      faith review the Employee's Base Salary on an annual basis.  In      no event, however, will the Base Salary be reduced without Employee's      written concurrence. |
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|   | (b) | Incentive      Compensation and Bonus:  Employee shall be entitled to receive      such incentive compensation and bonuses as may be determined from time to      time by the Board of Directors. |
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|   | (c) | Stock      and Other Benefit Plans:  During the term of this Agreement, the      Employee will be entitled to participate in and receive the benefits of      any stock option plans, stock ownership plans, profit-sharing plans,      401(k) plans, or other plans, benefits and privileges given to employees      and executives of the Bank which are currently in effect at the execution      of this Agreement, or which may come into existence thereafter, to the      extent the Employee is otherwise eligible and qualifies to so participate      in and receive such benefits or privileges.  The Bank shall not      make any changes in such plans, benefits or privileges which would      adversely affect the Employee's rights or benefits thereunder, unless such      change occurs pursuant to a program applicable to all executive officers      (Vice President or above) of the Bank and does not result in a      proportionately greater adverse change in the rights of or benefits to the      Employee as compared with any other executive officer of the      Bank.  Nothing paid to the Employee under any plan or      arrangement presently in effect or made available in the future shall be      deemed to be in lieu of the Base Salary payable to the Employee pursuant      to this Section 3. |
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| 4. | Payment of Business      Expenses.  Employee is authorized to incur reasonable      expenses in performing her duties.  The Bank will reimburse      Employee for authorized expenses, according to the Bank's established      policies, promptly after Employee's presentation of an itemized account of      such expenditures. |
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| 5. | Vacation and      Perquisites.  Employee will be entitled to paid vacation      time each year pursuant to the Bank's policy as it may be revised from      time to time.  The Employee shall receive the use of an      automobile or an automobile allowance on terms determined of the Board of      Directors from time to time. |
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| 6. | Medical      Benefits.  Employee is entitled to participate in all      medical and health care benefit plans through health insurance, corporate      funds, medical reimbursement plans or other plans, if any, provided, or to      be provided, by the Bank for itsemployees. |
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| 7. | Disability/Illness. |
|----|---------------------|

|   | (a) | Illness:  Employee      shall be paid her full Base Salary for any period of her illness or      incapacity: provided that such illness or incapacity does not render      Employee unable to perform her duties under this Agreement for a period      longer than three (3) consecutive months.  At the end of such      three (3) month period, the Bank may terminate Employee's employment and      this Agreement. |
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|   | (b) | Disability:  If      the Bank terminates this Agreement pursuant to Employee's disability as      determined under Section 7(a) herein, the Bank shall pay to Employee, as a      disability payment, an amount equal to Employee's monthly Base Salary,      payable in substantially equal semi-monthly installments on the fifteenth      and last days of each month, commencing on the effective date of      Employee's separation from service and ending on the earlier      of: |
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|   | (i) | the      date Employee returns to full time employment in her capacity as the      Bank's Chief Financial Officer; |
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|   | (ii) | Employee's      full time employment by anotheremployer; |
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|   | (iii) | three      (3) months after the date of such separation, after which Employee will be      entitled to receive benefits under any disability insurance plan provided      by the Bank; or |
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|   | (iv) | the      date of Employee's death. |
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|   | (v) | The      Bank may satisfy its obligations under this Section of this Agreement, at      its option, through the purchase of disability insurance.  The      provisions of such policy will control the amounts paid to      Employee.  Such disability insurance will be coordinated with      any disability plans made available to Employee pursuant to Section 6 of      this Agreement. |
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|   | (c) | Continuation      of Coverages:  During any period of illness or disability, the      Bank will continue any other life, health and disability coverages for      Employee substantially identical to the coverages maintained prior to      Employee's separation from service on account of      disability.  Such coverages shall cease upon the earlier      of: |
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|   | (i) | Employee's      full time employment by anotheremployer; |
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|   | (ii) | one      (1) year after the date of such separation (with the exception of      disability insurance coverage); or |
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|   | (iii) | the      date of Employee's death. |
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|   | (d) | No      Reduction in Base Salary:  During the period in which Employee      is disabled or subject to illness or incapacity, other than as described      in Section 7(b) herein, there shall be no reduction in Employee's Base      Salary. |
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| 8. | Death During      Employment.  In the event of Employee's death during the      term of this Agreement, the Bank's obligation to Employee shall be limited      to the portion of Employee's compensation which would be payable up to the      first working day of the first month after Employee's death, except that      any compensation payable to Employee under any benefit plan maintained by      the Bank will be paid pursuant to itsterms. |
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| 9. | Termination. |
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|   | (a) | Illness,      Incapacity or Death:  This Agreement shall terminate upon      Employee's illness, incapacity or death in accordance with the provisions      of Sections 7 and 8 herein. |
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|   | (b) | Termination      for Just Cause:  The Bank shall have the right, at any time,      upon prior written Notice of Termination satisfying the requirements of      Section 10 herein, to terminate the Employee's employment hereunder,      including termination for Just Cause.  For the purpose of this      Agreement, termination for Just Cause shall mean termination for personal      dishonesty, willful misconduct, material breach of fiduciary duty,      continuing failure, after notice, to satisfactorily perform the duties      stated in this Agreement, violation of any law, rule or regulation (other      than traffic violations or misdemeanors not related to theft or      dishonesty, or that would not reflect poorly on the Bank), violation of a      final cease-and-desist order, negligence or misconduct in the performance      of Employee’s duties or material breach of any provision of this      Agreement.  In the event Employee is terminated for Just Cause,      Employee shall have no right to compensation or other benefits for any      period after such date oftermination. |
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|   | (c) | Involuntary      Termination:  If the Employee is terminated by the Bank other      than for Just Cause or in connection with a Change In Control (as defined      in Section 9(e) herein), Employee's right to compensation and other      benefits under this Agreement shall be as set forth in Sections 9(f)(i)      and 9(g) herein.  In the event the Employee is terminated by the      Bank in connection with a Change In Control, Employee's right to      compensation and other benefits under this Agreement shall be as set forth      in Section 9(f)(ii) and 9(g)herein. |
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|   | (d) | Termination      for Good Reason:  Employee may terminate her employment      hereunder for Good Reason.  For purposes of this Agreement, Good      Reason shall mean (i) a failure by the Bank to comply with any material      provision of this Agreement, which failure has not been cured within ten      (10) days after a notice of such noncompliance has been given by the      Employee to the Bank; or (ii) subsequent to a Change In Control as defined      in Section 9(e) herein and without the Employee's express written consent,      any of the following shall occur:  the assignment to the      Employee of any duties inconsistent with the Employee's positions, duties,      responsibilities and status with the Bank immediately prior to a Change In      Control; a change in the Employee's reporting responsibilities, titles or      offices as in effect immediately prior to a Change In Control; any removal      of the Employee from, or any failure to re-elect the Employee to, any of      such positions, except in connection with a termination  of      employment for Just Cause, disability, death, or removal pursuant to      Sections 9(a) or 9(b) herein; a reduction by the Bank in the Employee's      annual salary as in effect  immediately prior to a Change In      Control; the failure of the Bank to continue in effect any bonus, benefit      or compensation plan, life insurance plan, health and accident plan or      disability plan in which the Employee is participating at the time of a      Change In Control, or the taking of any action by the Bank which would      adversely affect the Employee's participation in or materially reduce the      Employee's benefits under any of such plans, or the transfer of the      Employee to any location outside of Duval or Clay Counties, Florida or the      assignment of substantial duties to the Employee to be completed outside      Duval, St. Johns or Clay Counties,Florida. |
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|   | (e) | Change      In Control:  The Bank is a wholly-owned subsidiary of      Jacksonville Bancorp, Inc. (the "Parent Company").  For purposes      of this Agreement, a Change in Control shall mean, and be deemed to have      occurred on the date of, the first to occur of any of the      following: |
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|   | (i) | the      sale by the Parent Company of capital stock (other than an initial public      offering of stock) such that any person (as such term is used in      Rule 13d-5 of the Exchange Act) or group (as defined in Sections      3(a)(9) and 13(d)(3) of the Exchange Act) other than (1) a subsidiary of      the Parent Company or any employee benefit plan (or any related trust) of      the Parent Company or subsidiary, or (2) any current holder of five      percent (5%) or more of the Parent Company's capital stock, becomes the      owner (beneficially or otherwise) of more than fifty percent (50%) of such      Parent Company's capital stock or other securities representing fifty      percent (50%) or more of the combined voting power of outstanding voting      securities; |
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|   | (ii) | the      replacement of more than fifty percent (50%) of the incumbent members of      the Board of Directors of the Parent Company provided, however, where the      election or nomination of such replacement directors was approved by a      majority of the incumbent members (other than in connection with an      "election contest") (as such term is used in Section 14(d) of the Exchange      Act) or proposed merger) such replacement director will be treated as an      incumbent director; |
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|   | (iii) | the      Parent Company becomes a subsidiary of another corporation or shall have      merged into or consolidated with another corporation, or merged another      corporation into the Parent Company, on a basis whereby less than fifty      percent (50%) of the total voting power of the surviving corporation is      represented by shares held by former shareholders of the Parent Company      prior to such merger or consolidation excluding, however, a transaction      where the incumbent directors of the Parent Company constitute a majority      of the Board of Directors of the surviving corporation at the time of the      transaction and for one (1) year thereafter;or |
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|   | (iv) | the      Parent Company sells the capital stock of the Bank or all or substantially      all of its assets to another corporation or other entity or person not      also controlled by the shareholders of the Parent  Company. |
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|   | (i) | if      the Employee shall terminate her employment for Good Reason as defined in      Section 9(d) herein, or if the Employee is terminated by the Bank for      other than Just Cause pursuant to Section 9(c) herein, then in lieu of any      further salary payments to the Employee for periods subsequent to the date      of termination, the Employee shall be paid, as severance, an amount equal      to Employee's annual Base Salary, plus any incentive compensation or bonus      which the Employee would have been entitled to hereunder;    or |
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|   | (ii) | in      the event Employee's employment is terminated as a result of a Change In      Control or a Change In Control occurs within twelve (12) months before the      Employee's involuntary termination or termination for Good Reason,      Employee shall be paid, within ten (10) days following the effective date      of her separation from service, a severance payment equal to 2.99 times      the highest annual salary and bonus she was paid or entitled to in the two      years preceding termination. |
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|   | (g) | Additional      Severance Benefits: Unless the Employee is terminated for Just Cause      pursuant to Section 9(b) herein, pursuant to Section 10(b) herein, or      pursuant to a termination of employment by the Employee for other than      Good Reason, the Bank shall maintain in full force and effect, for the      continued benefit of the Employee for the remaining term of this      Agreement, or twelve (12) months (whichever is longer), all employee      benefit plans and programs in which the Employee was entitled to      participate immediately prior to the date of her separation from service;      provided, however, that the Employee's continued participation is possible      under the general terms and provisions of such plans and      programs. |
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|   | (h) | Mitigation:  Employee      shall not be required to mitigate the amount of any payment provided for      in Sections 9(f) and 9(g) of this Agreement by seeking other employment or      otherwise. |
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|   | (i) | Schedule      of Payments for Additional Benefits:  To the extent any      additional benefits payable to Employee under Section 9(g) above or any      other provision of this Agreement (other than separation pay as described      in Section 9(f) above), other than benefits that are (i) excludable from      the Employee’s gross income, (ii) deductible business expenses, (iii)      medical expenses that would be deductible under Section 213(d) of the Code      (without regard to the 7.5% threshold for deductibility), or that (iv) do      not in the aggregate (including any other additional post-termination      benefits payable to Employee under this Agreement or any other      arrangement) exceed the applicable dollar limit under Section 402(g)(1)(B)      of the Code for the year in which the Employee’s separation from service      occurs or (v) are not otherwise exempt from the requirements of Section      409A of the Code (the amounts described in (i), (ii), (iii), (iv) and (v)      referred to in Section 2(j) below as the “Exempt Additional Benefits”),      the payment of such benefits shall be made in accordance with Section      1.409A-3(i)(1)(iv) of the TreasuryRegulations. |
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|   | (j) | Six      Month Delay:  Notwithstanding anything in this Agreement to the      contrary, if at the time of Employee’s separation from service the shares      of the Bank or any member of the Bank Controlled Group are publicly traded      on an established securities market or otherwise, then, to the extent      necessary to comply with Section 409A of the Code, any amounts otherwise      payable to the Employee under this Agreement (other than Exempt Additional      Benefits) during the first six months following Employee’s separation from      service shall be withheld and paid instead in a single lump sum cash      payment as soon as administratively practicable (but in any event within      90 days) following the earlier of (i) the date which is six (6) months      after the Employee’s separation from service and (ii) the date of the      Employee’s death following her separation from service, and not      before.  Amounts otherwise payable after this six-month period      shall be paid in accordance with the terms of the Agreement without regard      to this subsection (j).  This subsection (j) shall apply only if      the Employee is a “Specified Employee” at the time of her separation from      service.  For purposes of this subsection (j), a “Specified      Employee” is any “key employee” (as defined in Section 416(i) of the Code,      without regard to subparagraph (5) thereof) within the Bank Controlled      Group determined in accordance with procedures established by the Parent      Company in accordance with Section 1.409A-1(i) of the Treasury Regulations      (or, in the absence of such procedures, determined in accordance with      Section 1.409A-1(i) of the Treasury Regulations applying the default terms      thereof); and the “Bank Controlled Group” is the Bank and all persons with      whom the Bank would be considered a single employer under Sections 414(b)      or (c) of the Code. |
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| 10. | Notice of      Termination. |
|-----|-----------------------------|

|   | (a) | Employee's      Notice:  Employee shall have the right, upon prior written      notice of termination of not less than thirty (30) days, to terminate her      employment hereunder.  In such event, Employee shall have no      right after the date of termination to compensation or other benefits as      provided in this Agreement, unless such  termination is for Good      Reason, as defined in Section 9(d) herein.  If the Employee      provides a Notice of Termination for Good Reason, the date of termination      shall be the date on which the Notice of Termination is    given. |
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|   | (b) | Specificity:  Any      termination of the Employee's employment by the Bank or by Employee shall      be communicated by written Notice of Termination to the other Party      hereto.  For purposes of this Agreement, a Notice of Termination      shall mean a dated notice which shall:  (i) indicate the      specific termination provision in the Agreement relied upon; (ii) set      forth in reasonable detail the facts and circumstances claimed to provide      a basis for termination of the Employee's employment under the provision      so indicated; and (iii) set forth the date of termination, which shall be      not less than thirty (30) days nor more than forty-five (45) days after      such Notice of Termination is given, except in the case of the Bank's      termination of the Employee's employment for Just Cause, in which case      date of termination shall be the date such Notice of Termination is      given. |
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|   | (c) | Delivery      of Notices:  All notices given or required to be given herein      shall be in writing, sent by United States first-class certified or      registered mail, postage prepaid, by way of overnight carrier or by hand      delivery.  If to the Employee (or to the Employee's spouse or      estate upon the Employee's death) notice shall be sent to Employee's      last-known address, and if to the Bank, notice shall be sent to the      corporate headquarters.  All such notices shall be effective      when deposited in the mail if sent via first-class certified or registered      mail, or upon delivery if by hand delivery or sent via overnight      carrier.  Either Party, by notice in writing, may change or      designate the place for receipt of all such  notices. |
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| 11. | Post-Termination      Obligations.  The Bank shall pay to Employee such      compensation as is required pursuant to this Agreement; provided, however,      any such payment shall be subject to Employee's post-termination      cooperation.  Such cooperation shall include the      following: |
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|   | (i) | Employee      shall furnish such information and assistance as may be reasonably      required by the Bank in connection with any litigation or settlement of      any dispute between the Bank, a borrower and/or any other third parties      (including without limitation serving as a witness in court or other      proceedings); |
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|   | (ii) | Employee      shall provide such information or assistance to the Bank in connection      with any regulatory examination by any state or federal regulatory agency;      and |
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|   | (iii) | Employee      shall keep the Bank's trade secrets and other proprietary or confidential      information secret to the fullest extent practicable, subject to      compliance with all applicablelaws. |
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| 12. | Attorneys’ Fees/Advanced      Costs.  In the event that the Employee is terminated in a      manner which violates any provisions of this Agreement, as determined by a      court of competent jurisdiction, the Employee shall be entitled to      reimbursement for all reasonable costs, including attorneys’ fees, in      challenging such termination.  Further, because of economic      disparity between the Bank and Employee, the Bank agrees to pay for      Employee's reasonable attorneys' fees and costs up to $10,000 to enforce      the terms of this Agreement or recovered damages for breach of this      agreement as follows:  $5,000 at the commencement of litigation      or the mediation proceedings and an additional $5,000 six (6) months      thereafter.  In the event the Employee is unsuccessful in her      claim or defense, the Employee shall reimburse the Bank for any attorneys'      fees, expenses and costs that have been advanced.  If the      Employee is successful, any attorneys' fee award will be reduced by the      amount of attorney's fees and costs that have been      advanced.  Such reimbursement shall be in addition to all rights      to which the Employee is otherwise entitled under this      Agreement.  Amounts payable to Employee pursuant to this      paragraph shall be considered “additional benefits” for purposes of      Section 9(i) above. |
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| 13. | Indebtedness.  If      during the term of this Agreement, Employee becomes indebted to the Bank      for any reason, the Bank may, at its election, set off and collect any      sums due Employee out of any amounts which the Bank may owe Employee from      her Base Salary or other compensation; provided, however, that the Bank      shall not reduce any post-termination amounts payable to Employee under      this Agreement that are subject to Section 409A of the Code (including any      severance pay described in Section 2(f) that is subject to Section 409A of      the Code) in offset of an Employee indebtedness to the Bank unless the      indebtedness arose in the ordinary course of the Employee’s service      relationship with the Bank, the amount of the reduction does not      exceed  $5,000, and the reduction is made at the same time an in      the same amount as the debt otherwise would have been due and collected      from the Employee.  Furthermore, upon the termination of this      Agreement, all sums owed by Employee shall become immediately due and      payable.  Employee shall pay all expenses and attorney's fees      actually or necessarily incurred by the Bank in connection with any      collection proceeding for Employee's indebtedness to      us.  Notwithstanding any of the foregoing, any indebtedness to      us secured by a mortgage on Employee's residence shall not be subject to      the foregoing provisions, and shall be governed by the loan documents      evidencing such indebtedness. |
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| 14. | Maintenance of Trade Secrets      and Confidential Information.  Employee shall use her      best efforts and utmost diligence to guard and protect all of the Bank's      trade secrets and confidential information.  Employee shall not,      either during the term or after termination of this Agreement, for      whatever reason, use, in any capacity, or divulge or disclose in any      manner, to any Person, the identity of the Bank's customers, or its      customer lists, methods of operation, marketing and promotional methods,      processes, techniques, systems, formulas, programs or other trade secrets      or confidential information relating to the Bank's      business.  Upon termination of this Agreement or Employee's      employment, for any reason, Employee shall immediately return and deliver      to the Bank all records and papers and all matters of whatever nature      which bear trade secrets or confidential information relating to the      Bank. |
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| 15. | Competitive      Activities. |
|-----|------------------------------|

|   | (a) | Limitation      on Outside Activities:  Employee agrees that during the term of      this Agreement, except with the express consent of the Board, Employee      will not, directly or indirectly, engage or participate in, become a      director of, or render advisory or other services for, or in connection      with, or become interested in, or make any financial investment in any      firm, corporation, business entity or business enterprise competitive with      or to any business of the Bank; provided, however, that Employee shall not      be precluded or prohibited from owning passive investments, including      investments in the securities of other financial institutions, so long as      such ownership does not require Employee to devote substantial time to      management or control of the business or activities in which Employee has      invested. |
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|   | (b) | Agreement      Not to Compete:  Employee acknowledges that by virtue of her      employment with the Bank, Employee will acquire an intimate knowledge of      the activities and affairs of the Bank, including trade secrets and other      confidential matters.  Employee, therefore, agrees that during      the term of this Agreement, and for a period of twelve (12) months after      the termination of her employment for any reason, Employee shall not      become employed, directly or indirectly, whether as an employee,      independent contractor, consultant, or otherwise, in the financial      services industry with any business enterprise or business entity, or      person whose intent is to organize another financial institution in Duval      or Clay Counties, Florida; provided, however, that such prohibition shall      be for three (3) months if this Agreement is terminated due to a Change In      Control.  Employee hereby agrees that the duration of the      anticompetitive covenant set forth herein is reasonable, and its      geographic scope is not undulyrestrictive. |
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| 16. | Remedies for      Breach. |
|-----|---------------------------|

|   | (a) | Injunctive      Relief:  The Parties acknowledge and agree that the services to      be performed by Employee are special and unique and that money damages      cannot fully compensate the Bank in the event of Employee's violation of      the provisions of Section 16 of this Agreement.  Thus, in the      event of a breach of any of the provisions of such Section, Employee      agrees that the Bank, upon application to a court of competent      jurisdiction, shall be entitled to an injunction restraining Employee from      any further breach of the terms and provision of such      Section.  Should the Bank prevail in an action seeking an      injunction restraining Employee, Employee shall pay all costs and      reasonable attorneys’ fees incurred by the Bank in and relating to      obtaining such injunction.  Such injunctive relief may be      obtained without bond and Employee's sole remedy, in the event of the      entry of such injunction, shall be the dissolution of such      injunction.  Employee hereby waives any and all claims for      damages by reason of the wrongful issuance of any such      injunction. |
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|   | (b) | Cumulative      Remedies:  Notwithstanding any other provision of this      Agreement, the injunctive relief described in Section 17(a) herein and all      other remedies provided for in this Agreement which are available to the      Bank as a result of Employee's breach of this Agreement, are in addition      to and shall not limit any and all remedies existing at or in equity which      may also be available to the Bank. |
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| 17. | Assignment.  This      Agreement shall inure to the benefit of and be binding upon the Employee,      and to the extent applicable, her heirs, assigns, executors, and personal      representatives, and to the Bank, and to the extent applicable, its      successors, and assigns, including, without limitation, any person,      partnership, or corporation which may acquire all or substantially all of      the Bank's assets and business, or with or into which the Bank may be      consolidated or merged, and this provision shall apply in the event of any      subsequent merger, consolidation, or transfer, unless such merger or      consolidation or subsequent merger or consolidation is a transaction of      the type which would result in termination under Sections 9(c) and 9(d)      herein. |
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| 18. | Miscellaneous. |
|-----|----------------|

|   | (a) | Amendment      of Agreement:  Unless as otherwise provided herein, this      Agreement may not be modified or amended except in writing signed by the      Parties. |
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|   | (b) | Certain      Definitions:  For purposes of this Agreement, the following      terms whenever capitalized herein shall have the following      meanings: |
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|   | (i) | “Person"      shall mean any natural person, corporation, partnership (general or      limited), trust, association or any other business entity;    and |
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|   | (ii) | "Attorneys’      Fees" shall include the legal fees and disbursements charged by attorneys      and their related travel and lodging expenses, court costs, paralegal      fees, etc. incurred in settlement, trial, appeal or in bankruptcy      proceedings. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | “Code”      shall mean the Internal Revenue Code of 1986, as  amended. |
|--------|-------|------------------------------------------------------------------------------------|

|   | (iv) | “Separation      from service” shall mean the Employee’s termination of employment or other      separation from service as defined in Section 1.409A-1(i) of the Treasury      Regulations, applying the default termsthereof. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | “Treasury      Regulations” shall mean Title 26 of the Code of Federal Regulations, as      amended from time to time. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

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|   | (c) | Headings      for Reference Only:  The headings of the Sections and the      Subsections herein are included solely for convenient reference and shall      not control the meaning of the interpretation of any of the provisions of      this Agreement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Governing      Law/Jurisdiction:  This Agreement shall be construed in      accordance with and governed by the laws of the State of      Florida.  Any litigation involving the Parties and their rights      and obligations hereunder shall be brought in the appropriate federal or      state courts in Duval County,Florida. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Severability:  If      any of the provisions of this Agreement shall be held invalid for any      reason, the remainder of this Agreement shall not be affected thereby and      shall remain in full force and effect in accordance with the remainder of      its terms. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | Entire      Agreement:  This Agreement and all other documents incorporated      or referred to herein, contains the entire agreement of the Parties and      there are no representations, inducements or other provisions other than      those expressed in writing herein.  This Agreement amends,      supplants and supersedes any and all prior agreements between the      Parties.  No modification, waiver or discharge of any provision      or any breach of this Agreement shall be effective unless it is in writing      signed by both Parties.  A Party's waiver of the other Party's      breach of any provision of this Agreement, shall not operate, or be      construed, as a waiver of any subsequent breach of that provision or of      any other provision of thisAgreement. |
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|   | (g) | Waiver:  No      course of conduct by the Bank or Employee and no delay or omission of the      Bank or Employee to exercise any right or power given under this Agreement      shall:  (i) impair the subsequent exercise of any right or      power, or (ii) be construed to be a waiver of any default or any      acquiescence in or consent to the curing of any default while any other      default shall continue to exist, or be construed to be a waiver of such      continuing default or of any other right or power that shall theretofore      have arisen.  Any power and/or remedy granted by law and by this      Agreement to any Party hereto may be exercised from time to time, and as      often as may be deemed expedient.  All such rights and powers      shall be cumulative to the fullest extent permitted by  law. |
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|   | (h) | Pronouns:  As      used herein, words in the singular include the plural, and the masculine      include the feminine and neuter gender, as  appropriate. |
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|   | (i) | Recitals:  The      Recitals set forth at the beginning of this Agreement shall be deemed to      be incorporated into this Agreement by this reference as if fully set      forth herein, and this Agreement shall be interpreted with reference to      and in light of such Recitals. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (j) | Code      Section 409A: With respect to any compensation promised under this      Agreement that is subject to Section 409A of the Code, this Agreement is      intended to comply with the applicable requirements of Sections 409A(a)(2)      through (4) of the Code and shall be interpreted to the extent context      reasonably permits in accordance with this intent.  The parties      agree to modify this Agreement or the timing (but not the amount) of any      payment to the extent necessary to comply with Section 409A of the Code      and avoid application of any taxes, penalties, or interest      thereunder.  However, in the event that any amounts payable      under this Agreement are subject to any taxes, penalties or interest under      Section 409A of the Code or otherwise, Employee shall be solely liable for      the payment thereof. |
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| EMPLOYEE                          |   | THE      JACKSONVILLE BANK              |
|-----------------------------------|--------|-----------------------------------------|
|                              |   |                                    |   |
|                              |   | By:                                     | /s/      Price W. Schwenck |
| /s/ Valerie A. Kendall            |   |                                    |
| Valerie      A. Kendall, Employee |   | On      behalf of the Board ofDirectors |

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