ORIGINAL

     

    UST
Sequence Number: 195

     

    ANNEX
B           

    


    WAIVER

     

    In
consideration for the benefits I will receive as a result of my employer’s
participation in the United States Department of the Treasury’s TARP Capital
Purchase Program, I hereby voluntarily waive any claim against the United States
or my employer for any changes to my compensation or benefits that are required
to comply with the regulation issued by the Department of the Treasury as
published in the Federal Register on October 20, 2008.

     

    I
acknowledge that this regulation may require modification of the compensation,
bonus, incentive and other benefit plans, arrangements, policies and agreements
(including so-called “golden parachute” agreements) that I have with my employer
or in which I participate as they relate to the period the United States holds
any equity or debt securities of my employer acquired through the TARP Capital
Purchase Program.

     

    This
waiver includes all claims I may have under the laws of the United States or any
state related to the requirements imposed by the aforementioned regulation,
including without limitation a claim for any compensation or other
payments I would otherwise receive, any challenge to the process by which
this regulation was adopted and any tort or constitutional claim about the
effect of these regulations on my employment relationship.

    


    
      
        	
                /s/ Kim S. Price

              
	
                Kim
      S. Price

              
	
                President
      and Chief Executive Officer

                Citizens
      South Banking Corporation

              


      

    

     

    December
12, 2008

     

    UST
Sequence No. 195

    
      
         


      

      
         


        
          

        

      

      
         


      

    

     

    ORIGINAL

     

    UST
Sequence Number: 195

     

    ANNEX
B           

    


    WAIVER

     

    In
consideration for the benefits I will receive as a result of my employer’s
participation in the United States Department of the Treasury’s TARP Capital
Purchase Program, I hereby voluntarily waive any claim against the United States
or my employer for any changes to my compensation or benefits that are required
to comply with the regulation issued by the Department of the Treasury as
published in the Federal Register on October 20, 2008.

     

    I
acknowledge that this regulation may require modification of the compensation,
bonus, incentive and other benefit plans, arrangements, policies and agreements
(including so-called “golden
parachute” agreements) that I have with my employer or in which I participate as
they relate to the period the United States holds any equity or debt securities
of my employer acquired through the TARP Capital Purchase Program.

     

    This
waiver includes all claims I may have under the laws of the United States or any
state related to the requirements imposed by the aforementioned regulation,
including without limitation a claim for any compensation or other payments I
would otherwise receive, any challenge to the process by which this regulation
was adopted and any tort or constitutional claim about the effect of these
regulations on my employment relationship.

    
      
      

    

    


    
      
        	
                /s/ Gary F. Hoskins

              
	
                Gary
      F. Hoskins

              
	
                Chief
      Financial Officer

              
	
                Citizens
      South Banking Corporation

              


      

    

    


    December
12, 2008

     

    
      UST
Sequence No. 195

    

    
      
         


      

      
         


        
          

        

      

      
         


      

    

     

    ORIGINAL

     

    UST
Sequence Number: 195

     

    ANNEX
B           

    


    WAIVER

     

    In
consideration for the benefits I will receive as a result of my employer’s
participation in the United States Department of the Treasury’s TARP Capital
Purchase Program, I hereby voluntarily waive any claim against the United States
or my employer for any changes to my compensation or benefits that are required
to comply with the regulation issued by the Department of the Treasury as
published in the Federal Register on October 20, 2008.

     

    I
acknowledge that this regulation may require modification of the compensation,
bonus, incentive and other benefit plans, arrangements, policies and agreements
(including so-called “golden parachute” agreements) that I have with my employer
or in which I participate as they relate to the period the United States holds
any equity or debt securities of my employer acquired through the TARP Capital
Purchase Program.

     

    This
waiver includes all claims I may have under the laws of the United States or any
state related to the requirements imposed by the aforementioned regulation,
including without limitation a claim for any compensation or other payments I
would otherwise receive, any challenge to the process by which this regulation
was adopted and any tort or constitutional claim about the effect of these
regulations on my employment relationship.

    


    
      
        	
                /s/ Daniel M. Boyd, IV

              
	
                Daniel
      M. Boyd, IV

              
	
                Executive
      Vice President and Chief Operating Officer

              
	
                Citizens
      South Banking Corporation

              


      

    

     

    December
12, 2008

    
       

      UST
Sequence No. 195

        
          
             


          

          
             


            
              

            

          

          
             


          

        

      

    

    
       

      ORIGINAL

       

      UST
Sequence Number: 195

       

    

    ANNEX
B           

    


    WAIVER

     

    In
consideration for the benefits I will receive as a result of my employer’s
participation in the United States Department of the Treasury’s TARP Capital
Purchase Program, I hereby voluntarily waive any claim against the United States
or my employer for any changes to my compensation or benefits that are required
to comply with the regulation issued by the Department of the Treasury as
published in the Federal Register on October 20,
2008.

     

    I
acknowledge that this regulation may require modification of the compensation,
bonus, incentive and other benefit plans, arrangements, policies and agreements
(including so-called “golden parachute” agreements) that I have with my employer
or in which I participate as they relate to the period the United States holds
any equity or debt securities of my employer acquired through the TARP Capital
Purchase Program.

     

    This
waiver includes all claims I may have under the laws of the United States or any
state related to the requirements imposed by the aforementioned regulation,
including without limitation a claim for any compensation or other payments I
would otherwise receive, any challenge to the process by which this regulation
was adopted and any tort or constitutional claim about the effect of these
regulations on my employment relationship.

    


    
      
        	
                /s/ Ira M. Flowe, Jr.

              
	
                Ira
      M. Flowe, Jr.

              
	
                Senior
      Vice President

              
	
                Citizens
      South Banking Corporation

              


      

    

     

    December
12, 2008

     

    
      UST
Sequence No. 195

        
          
             


          

          
             


            
              

            

          

          
             


          

        



    

    
      ORIGINAL

       

      UST
Sequence Number: 195

       

    

    ANNEX
B           

     

    WAIVER

     

    In
consideration for the benefits I will receive as a result of my employer’s
participation in the United States Department of the Treasury’s TARP Capital
Purchase Program, I hereby voluntarily waive any claim against the United States
or my employer for any changes to my compensation or benefits that are required
to comply with the regulation issued by the Department of the Treasury as
published in the Federal Register on October 20, 2008.

     

    I
acknowledge that this regulation may require modification of the compensation,
bonus, incentive and other benefit plans, arrangements, policies and agreements
(including so-called “golden parachute” agreements) that I have with my employer
or in which I participate as they relate to the period the United States holds
any equity or debt securities of my employer acquired through the TARP Capital
Purchase Program.

     

    This
waiver includes all claims I may have under the laws of the United States or any
state related to the requirements imposed by the aforementioned regulation,
including without limitation a claim for any compensation or other payments I
would otherwise receive, any challenge to the process by which this regulation
was adopted and any tort or constitutional claim about the effect of these
regulations on my employment relationship.

    
      
      

    

    


    
      
        	
                /s/ Paul L. Teem, Jr.

              
	
                Paul
      L. Teem, Jr.

              
	
                Executive
      Vice President, Chief

              
	
                Administrative
      Officer and Secretary

              
	
                Citizens
      South Banking Corporation

              


      

    

     

    December
12, 2008

     

    UST
Sequence No. 195