Document:

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                                                                   EXHIBIT 10.16

This EMPLOYMENT AGREEMENT (this "Agreement") is made by and between ebank,
formerly Commerce Bank, (the "Employer"), and MIKE CURASI, an individual
resident of Georgia (the "Employee"), as of this _28__ day of
_______April______, 2003 ("Effective Date").

                  The Employer presently employs the Employee as its SENIOR VICE
PRESIDENT AND CHIEF CREDIT OFFICER. The Employer recognizes that the Employee's
contribution to the growth and success of the Employer is substantial. The
Employer desires to provide for the continued employment of the Employee and to
make certain changes in the Employee's employment arrangements which the
Employer has determined will reinforce and encourage the continued dedication of
the Employee to the Employer and will promote the best interests of the Employer
and its shareholders. The Employee is willing to continue to serve the Employer
on the terms and conditions herein provided.

                  In consideration of the foregoing, the mutual covenants
contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree that on the Effective Date:

1.       Employment. The Employer shall continue to employ the Employee, and the
Employee shall continue to serve the Employer, as Senior Vice President and
Chief Credit Officer upon the terms and conditions set forth herein. The
Employee shall have such authority and responsibilities as are consistent with
his position and which may be set forth in this Agreement or assigned by the
Chief Executive Officer ("CEO") or the Board of Directors from time to time. The
Employee shall devote his full business time, attention, skill and efforts to
the performance of his duties hereunder, except during periods of illness or
periods of vacation and leaves of absence consistent with the Employer's policy.
The Employee may devote reasonable periods of time to perform charitable and
other community activities and to manage his personal investments; provided,
however, that such activities will not materially interfere with the performance
of his duties hereunder and will not be in conflict or competitive with, or
adverse to, the interests of the Employer. Under no circumstances will the
Employee work for any competitor or have any financial interest in any
competitor of the Employer; provided, however, that the Employee may invest in
up to 1% of the publicly-traded stock or securities of any company whose stock
or securities are traded on a national exchange.

2.       Term. Unless earlier terminated as provided herein, the Employee's
employment under this Agreement shall be for a continuing term (the "Term") of
one year, which shall be extended automatically (without further action of the
Employer or the Employee) 30 days prior to the end of each year for an
additional year so that the remaining term shall again become one year unless,
prior to any such automatic extension, either party shall deliver written notice
upon the other of its intention that this Agreement shall not be so extended, in
which case the Agreement shall continue through its remaining term but shall not
be extended absent written agreement by both the Employer and the Employee.

3.       Compensation and Benefits.

         a.       The Employer shall pay the Employee a salary at a rate of not
less than $___95,000__________ per annum in accordance with the salary payment
practices of the Employer. The Board of Directors shall review the Employee's
salary at least annually and may increase the Employee's base salary if it
determines in its sole discretion that an increase is appropriate. In addition
to the aforementioned annual salary, the Employee shall receive the following
benefits:

         -        An automobile allowance of $_500_____ per month.
         -        Four weeks of paid vacation

         b.       The Employee shall participate in any retirement, welfare,
deferred compensation, life and health insurance, and other benefit plans or
programs of the Employer now or hereafter applicable to the Employee or
applicable generally to employees of the Employer, as determined by the Board of
Directors.

         c.       The Employer shall continue to reimburse the Employee for
reasonable travel and other expenses related to the Employee's duties which are
incurred and accounted for in accordance with the Employer's standard business
practices.

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         d.       The Employee shall be eligible to receive cash bonuses based
on the Employee's achievement of specified goals and criteria. These goals and
criteria may include both annual and long-term goals, may provide for vesting
over a specified time period, and shall be established annually by the
Compensation Committee of the Board of Directors and attached to and made a part
of this Agreement (the "Bonus Plan"). Unless provided otherwise in any
particular Bonus Plan, each annual award will vest on January 1 of the year
following the year for which the award is earned, provided that the Employee is
actively employed on such date, and each long-term incentive compensation award
will vest in equal portions on January 1 of the three years following the year
in which the award is earned, provided that the Employee is actively employed on
each such date. The Employer shall make payment on any vested bonus within a
reasonable period after vesting thereof.

4.       Termination.

         a.       The Employee's employment under this Agreement may be
terminated prior to the end of the Term only as follows:

         (i)      upon the death of the Employee;

         (ii)     upon the disability of the Employee for a period of 180 days
                  which, in the opinion of the Board of Directors, renders him
                  unable to perform the essential functions of his job and for
                  which reasonable accommodation is unavailable. For purposes of
                  this Agreement, a "disability" is defined as a physical or
                  mental impairment that substantially limits one or more major
                  life activities, and a "reasonable accommodation" is one that
                  does not impose an undue hardship on the Employer;

         (iii)    upon the determination of Cause for termination, in which
                  event such employment may be terminated by written notice at
                  the election of the Employer. For purposes of this Agreement,
                  termination for "Cause" shall include termination because of
                  the Employee's personal dishonesty, incompetence, willful
                  misconduct, breach of a fiduciary duty involving personal
                  profit, intentional failure to perform stated duties, willful
                  violation of any law, rule, or regulation (other than traffic
                  violations or similar offenses) or final cease-and-desist
                  order, or material breach of any provision of this Agreement.
                  In addition, "Cause" shall consist of (A) the commission by
                  the Employee of a grossly negligent act, or the grossly
                  negligent omission to act by the Employee, which causes, or is
                  reasonably likely to cause, material harm to the Employer
                  (including harm to its business reputation), (B) the
                  indictment of the Employee for the commission or perpetration
                  by the Employee of any felony or any crime involving
                  dishonesty, moral turpitude or fraud, (C) the exhibition by
                  the Employee of a standard of behavior within the scope of his
                  employment that is materially disruptive to the orderly
                  conduct of the Employer's business operations (including,
                  without limitation, substance abuse or sexual misconduct) to a
                  level which, in the Board of Directors' good faith and
                  reasonable judgment, is materially detrimental to the
                  Employer's best interest, that, if susceptible of cure,
                  remains uncured ten days following written notice to the
                  Employee of such specific inappropriate behavior, or (D) the
                  failure of the Employee to render the services hereunder in
                  accordance with an appropriate performance standard determined
                  in the sole discretion of the Board of Directors; or

         (iv)     upon 30 days written notice thereof to the Employee from the
                  Employer (termination "Without Cause"), provided that in the
                  event of any such termination Without Cause, Section 4(e)
                  shall be applicable thereto.

         b.       If the Employee's employment is terminated because of the
Employee's death, the Employee's estate shall receive any sums due him as base
salary and/or reimbursement of expenses through the end of the month during
which death occurred, plus any bonus earned or accrued under the Bonus Plan
through the date of death (including any amounts awarded for previous years but
which were not yet vested) and a pro rata share of any bonus with respect to the
current fiscal year which had been earned as of the date of the Employee's
death.

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         c.       During the period of any incapacity leading up to the
termination of the Employee's employment as a result of disability, the Employer
shall continue to pay the Employee his full base salary at the rate then in
effect and all perquisites and other benefits (other than any bonus) until the
Employee becomes eligible for benefits under any long-term disability plan or
insurance program maintained by the Employer, provided that the amount of any
such payments to the Employee shall be reduced by the sum of the amounts, if
any, payable to the Employee for the same period under any disability benefit or
pension plan of the Employer or any of its subsidiaries. Furthermore, the
Employee shall receive any bonus earned or accrued under the Bonus Plan through
the date of incapacity (including any amounts awarded for previous years but
which were not yet vested) and a pro rata share of any bonus with respect to the
current fiscal year which had been earned as of the date of the Employee's
incapacity.

         d.       If the Employee's employment is terminated for Cause as
provided above, or if the Employee resigns (except for a termination of
employment pursuant to Section 4(f)), the Employee shall receive any sums due
him as base salary and/or reimbursement of expenses through the date of such
termination, but Employee will thereby forfeit any rights in any unpaid bonus,
including, without limitation, any bonus amounts awarded for previous years
which were not yet vested and any share of any bonus with respect to the current
fiscal year which had been earned as of the date of such termination or
resignation.

         e.       If the Employee's employment is terminated Without Cause, the
Employer shall pay to the Employee severance compensation in an amount equal to
100% of his then-current monthly base salary each month for three months from
the date of termination, plus any bonus earned or accrued under the Bonus Plan
through the date of termination and a pro rata share of any bonus with respect
to the current fiscal year which had been earned as of the date of the
Employee's termination. However, Section 4(f) shall apply instead of this
Section 4(e) to any termination Without Cause after a Change in Control.

         f.       Upon a Change in Control, the Employee may terminate his
employment hereunder for any reason upon delivery of notice to the Employer
within a 90-day period beginning upon the occurrence of a Change in Control or
within a 90-day period beginning on the one year anniversary of the occurrence
of a Change in Control. If the Employee terminates his employment pursuant to
this Section 4(f) or if the Employer terminates the Employee Without Cause after
a Change in Control, in addition to other rights and remedies available in law
or equity, the restrictive covenants contained in Section 9 shall not apply and,
in addition, the Employee shall be entitled to the following provided that the
Change in Control resulted in a diminution of duties, required relocation, or
similar grievous action: (i) the Employer shall pay the Employee in cash within
15 days of such termination date any sums due him as base salary and/or
reimbursement of expenses through the date of such termination, plus any bonus
earned or accrued under the Bonus Plan through the date of termination
(including any amounts awarded for previous years but which were not yet vested)
and a pro rata share of any bonus with respect to the current fiscal year which
had been earned as of the date of the Employee's termination (and any forfeiture
in other restrictive provisions applicable to each award shall not apply); and
(ii) the Employer shall pay the Employee in cash within 15 days of such
termination date one lump sum payment in an amount equal to the Employee's then
current annual base salary multiplied by the original full Term (without taking
into account the amount of the Term which may have lapsed by such date).

         g.       With the exceptions of the provisions of this Section 4, and
the express terms of any benefit plan under which the Employee is a participant,
upon termination of the Employee's employment, the Employer shall have no
obligation to the Employee for, and the Employee waives and relinquishes, any
further compensation or benefits (exclusive of COBRA benefits). At the time of
termination of employment, the Employee shall enter into a form of release
acknowledging such remaining obligations and discharging the Employer, as well
as the Employer's officers, directors and employees with respect to their
actions for or on behalf of the Employer, from any other claims or obligations
arising out of or in connection with the Employee's employment by the Employer,
including the circumstances of such termination.

         h.       In the event that the Employee's employment is terminated for
any reason and the Employee serves as a director of the Employer or of any
subsidiary of the Employer, the Employee shall (and does hereby) tender his
resignation from such positions effective as of the date of termination.

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         i.       The parties intend that the severance payments and other
compensation provided for herein are reasonable compensation for the Employee's
services to the Employer and shall not constitute "excess parachute payments"
within the meaning of Section 280G(b) of the Internal Revenue Code of 1986 and
any regulations thereunder. In the event that the Employer's independent
accountants acting as auditors for the Employer on the date of a Change in
Control determine that the payments provided for herein constitute "excess
parachute payments," then the Employee's compensation payable hereunder shall be
decreased, so as to equal an amount that is $1.00 less than three times the
Employee's "base amount," as that term is defined in Section 280G(b) of the
Internal Revenue Code, if, and only if, reducing the Employee's compensation
will put the Employee in a better after-tax position than if the Employee's
compensation was not reduced.

         j.       Notwithstanding anything to the contrary herein, if the
Employee is suspended or temporarily prohibited from participating in the
conduct of the Employer's affairs by a notice served under section 8(e)(3) or
(g)(1) of Federal Deposit Insurance Act (12 U.S.C. 1818 (e)(3) and (g)(1)), the
Employer's obligations under this Agreement shall be suspended as of the date of
service unless stayed by appropriate proceedings. If the charges in the notice
are dismissed, the Employer may in its discretion (i) pay the Employee all or
part of the compensation withheld while the obligations under this Agreement
were suspended and (ii) reinstate (in whole or in part) any of such obligations
which were suspended.

         k.       Notwithstanding anything to the contrary herein, if the
Employee is removed or permanently prohibited from participating in the conduct
of the Employer's affairs by an order issued under section 8 (e)(4) or (g)(1) of
the Federal Deposit Insurance Act (12 U.S.C. 1818 (e)(4) or (g)(1)), all
obligations of the Employee under this Agreement shall terminate as of the
effective date of the order, but any vested rights of the parties hereto shall
not be affected.

         l.       Notwithstanding anything to the contrary herein, if the
Employer is in default (as defined in section 3(x)(1) of the Federal Deposit
Insurance Act), all obligations under this Agreement shall terminate as of the
date of default, but this paragraph (4)(e) shall not affect any vested rights of
the parties hereto.

         m.       Notwithstanding anything to the contrary herein, all
obligations under this Agreement shall be terminated, except to the extent
determined that continuation of this Agreement is necessary for the continued
operation of the Employer, in the following cases:

                  (a)      By the Director of the Office of Thrift Supervision
                  (the "OTS Director") or his or her designee, at the time the
                  Federal Deposit Insurance Corporation enters into an agreement
                  to provide assistance to or on behalf of the Employer under
                  the authority contained in 13(c) of the Federal Deposit
                  Insurance Act; or

                  (b)      By the OTS Director or his or her designee, at the
                  time the OTS Director or his or her designee approves a
                  supervisory merger to resolve problems related to operation of
                  the Employer or when the Employer is determined by the OTS
                  Director to be in an unsafe or unsound condition.

         n.       Any payments made to the Employee pursuant to this Agreement,
or otherwise, are subject to and conditioned upon their compliance with 12
U.S.C. Section 1828(k) and any regulations promulgated thereunder.

5.       Ownership of Work Product. The Employer shall own all Work Product
arising during the course of the Employee's employment (prior, present or
future). For purposes hereof, "Work Product" shall mean all intellectual
property rights, including all Trade Secrets, U.S. and international copyrights,
patentable inventions, and other intellectual property rights, in any
programming, documentation, technology, work of authorship or other work product
that relates to the Employer, its business or its customers and that Employee
conceives, develops, or delivers to the Employer or that otherwise arises out of
the services provided by the Employee to the Employer hereunder, at any time
during his employment, during or outside normal working hours, in or away from
the facilities of the Employer, and whether or not requested by the Employer. If
the Work Product contains any materials, programming or intellectual property
rights that the Employee conceived or developed prior to, and independent of,
the Employee's work for the Employer, the Employee agrees to identify the
pre-existing items to the Employer, and the Employee grants the Employer a
worldwide, unrestricted, royalty-free right, including the right to sublicense
such items. The Employee agrees to take such actions and execute such further
acknowledgments and assignments as the Employer may reasonably request to give
effect to this provision.

6.       Protection of Trade Secrets. The Employee agrees to maintain in strict
confidence and, except as necessary to perform his duties for the Employer, the
Employee agrees not to use or disclose any Trade Secrets of the Employer during
or after his employment. For the purposes hereof, "Trade Secret" means
information, including, without limitation, technical or non-technical data, a
formula, a pattern, a compilation, a program, a device, a method, a technique, a
process, a drawing, financial data, financial plans, product plans, information
on customers or a list of actual or potential customers or suppliers, which: (i)
derives economic value, actual or potential, from not being generally known to,
and not being readily ascertainable by proper means by, other persons who can
obtain economic value from its disclosure or use; and (ii) is the subject of
efforts that are reasonable under the circumstances to maintain its secrecy.

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7.       Protection of Other Confidential Information. In addition, the Employee
agrees to maintain in strict confidence and, except as necessary to perform his
duties for the Employer, not to use or disclose any Confidential Business
Information of the Employer during his employment and for a period of 24 months
following termination of the Employee's employment. "Confidential Business
Information" shall mean any internal, non-public information (other than Trade
Secrets already addressed above) concerning the Employer's financial position
and results of operations (including revenues, assets, net income, etc.); annual
and long-range business plans; product or service plans; marketing plans and
methods; training, educational and administrative manuals; customer and supplier
information and purchase histories; and employee lists. The provisions of
Sections 6 and 7 above shall also apply to protect Trade Secrets and
Confidential Business Information of third parties provided to the Employer
under an obligation of secrecy.

8.       Return of Materials. The Employee shall surrender to the Employer,
promptly upon its request and in any event upon termination of the Employee's
employment, all media, documents, notebooks, computer programs, handbooks, data
files, models, samples, price lists, drawings, customer lists, prospect data, or
other material of any nature whatsoever (in tangible or electronic form) in the
Employee's possession or control, including all copies thereof, relating to the
Employer, its business, or its customers. Upon the request of the Employer,
Employee shall certify in writing compliance with the foregoing requirement.

9.       Restrictive Covenants.

                  a.       No Solicitation of Customers. During the Employee's
employment with the Employer and for a period of 24 months thereafter, the
Employee shall not (except on behalf of or with the prior written consent of the
Employer), either directly or indirectly, on the Employee's own behalf or in the
service or on behalf of others, solicit or attempt to solicit Customers to
induce or encourage them to acquire or obtain from anyone other than the
Employer or its subsidiaries any product or service competitive with or
substitute for any of the Employer's Products. For purposes of this Section,
"Customer" refers to any person or group of persons with whom the Employee had
direct material contact with regard to the selling, delivery, or support of the
Employer's Products, including servicing such person's or group's account,
during the period of 12 months preceding the solicitation date. The "Employer's
Products" refers to the products and services that the Employer or any of its
subsidiaries or affiliates offered or sold within six months of the solicitation
date. This restriction does not apply after a Change in Control.

                  b.       No Recruitment of Personnel. During the Employee's
employment with the Employer and for a period of 24 months thereafter, the
Employee shall not, either directly or indirectly, on the Employee's own behalf
or in the service or on behalf of others, solicit or induce any employee of or
consultant to the Employer or any of its subsidiaries or affiliates to leave his
or her position with the Employer (or the subsidiary or affiliate), or recruit
or attempt to recruit such persons to accept employment or any other position
with another business. This restriction does not apply after a Change in
Control.

                  c.       Independent Provisions. The provisions in each of the
above Sections 9(a) and 9(b) are independent, and the unenforceability of any
one provision shall not affect the enforceability of any other provision.

10.      Successors; Binding Agreement. This Agreement shall be binding upon and
shall inure to the benefit of the Employer and its successors and assigns.
Neither this Agreement nor any right or interest hereunder shall be assignable
or transferable by the Employee, his beneficiaries or legal representatives,
except by will or by the laws of descent and distribution. This Agreement shall
inure to the benefit of and be enforceable by the Employee's legal personal
representative.

11.      Notice. For the purposes of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when personally delivered or sent by certified
mail, return receipt requested, postage prepaid, addressed to the respective
addresses last given by each party to the other; provided, however, that all
notices to the Employer shall be directed to the attention of the Employer with
a copy to the Secretary of the Employer. All notices and communications shall be
deemed to have been received on the date of delivery thereof.
<PAGE>

12.      Governing Law. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Georgia without giving
effect to the conflict of laws principles thereof. Any action brought by any
party to this Agreement shall be brought and maintained in a court of competent
jurisdiction in State of Georgia.

13.      Non-Waiver. Failure of the Employer to enforce any of the provisions of
this Agreement or any rights with respect thereto shall in no way be considered
to be a waiver of such provisions or rights, or in any way affect the validity
of this Agreement.

14.      Enforcement. The Employee agrees that in the event of any breach or
threatened breach by the Employee of any covenant contained in Section 6, 7,
9(a), or 9(b) hereof, the resulting injuries to the Employer would be difficult
or impossible to estimate accurately, even though irreparable injury or damages
would certainly result. Accordingly, an award of legal damages, if without other
relief, would be inadequate to protect the Employer. The Employee, therefore,
agrees that in the event of any such breach, the Employer shall be entitled to
obtain from a court of competent jurisdiction an injunction to restrain the
breach or anticipated breach of any such covenant, and to obtain any other
available legal, equitable, statutory, or contractual relief. Should the
Employer have cause to seek such relief, no bond shall be required from the
Employer, and the Employee shall pay all attorney's fees and court costs which
the Employer may incur to the extent the Employer prevails in its enforcement
action.

15.      Saving Clause. The provisions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any provision shall not
affect the validity or enforceability of the other provisions hereof. If any
provision or clause of this Agreement, or portion thereof, shall be held by any
court or other tribunal of competent jurisdiction to be illegal, void, or
unenforceable in such jurisdiction, the remainder of such provision shall not be
thereby affected and shall be given full effect, without regard to the invalid
portion. It is the intention of the parties that, if any court construes any
provision or clause of this Agreement, or any portion thereof, to be illegal,
void, or unenforceable because of the duration of such provision or the area or
matter covered thereby, such court shall reduce the duration, area, or matter of
such provision, and, in its reduced form, such provision shall then be
enforceable and shall be enforced.

16.      Certain Definitions.

         a.       "Change in Control" shall mean the occurrence during the Term
of any of the following events, unless such event is a result of a Non-Control
Transaction: The individuals who, as of the date of this Agreement, are members
of the Board of Directors of the Employer (the "Incumbent Board") cease for any
reason to constitute at least a majority of the Board of Directors of the
Employer; provided, however, that if the election, or nomination for election by
the Employer's shareholders, of any new director was approved in advance by a
vote of at least a majority of the Incumbent Board, such new director shall, for
purposes of this Agreement, be considered as a member of the Incumbent Board. An
acquisition (other than directly from the Employer) of any voting securities of
the Employer (the "Voting Securities") by any "Person" (as the term "person" is
used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of
1934) immediately after which such Person has "Beneficial Ownership" (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the
combined voting power of the Employer's then outstanding Voting Securities.

         b.       "Non-Control Transaction"  shall mean a transaction described
below:

                  (i)      the shareholders of the Employer, immediately before
                           such merger, consolidation or reorganization, own,
                           directly or indirectly, immediately following such
                           merger, consolidation or reorganization, at least 50%
                           of the combined voting power of the outstanding
                           voting securities of the corporation resulting from
                           such merger, consolidation or reorganization (the
                           "Surviving Corporation") in substantially the same
                           proportion as their ownership of the Voting
                           Securities immediately before such merger,
                           consolidation or reorganization; and

                  (ii)     immediately following such merger, consolidation or
                           reorganization, the number of directors on the board
                           of directors of the Surviving Corporation who were
                           members of the Incumbent Board shall at least equal
                           the number of directors who were affiliated with or
                           appointed by the other party to the merger,
                           consolidation or reorganization.
<PAGE>

17.      Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto and supersedes all prior agreements, if any,
understandings and arrangements, oral or written, between the parties hereto
with respect to the subject matter hereof.

18.      Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

                  IN WITNESS WHEREOF, the Employer has caused this Agreement to
be executed and its seal to be affixed hereunto by its officers thereunto duly
authorized, and the Employee has signed and sealed this Agreement, effective as
of the date first above written.

                                      ebank

                                      By:      /s/ James L. Box
                                               -------------------------------
                                               Name: James L. Box
                                               Title: Chief Executive Officer

                                      EMPLOYEE

                                      /s/ Michael J. Curasi
                                      ----------------------------------------
                                      Name:    Michael J. Curasi
                                               -------------------------------<PAGE>
                                                                  EXHIBIT 10.21

BORROWER'S NAME AND              LENDER'S NAME AND
ADDRESS                          ADDRESS

Ebank Financial Services, Inc.   Newnan Coweta Bank     Loan Number 400698000
2410 Paces Ferry Road            P.O. Box 71699         Date 12/10/2003
Atlanta, GA 30358-0000           Newnan, GA 30271       Maturity Date 12/10/2004
                                                        Loan Amount $250,000.00
                                                        Renewal of NEW
                                                        Tax I.D. NO.: 58-2349097

For value received, I promise to pay to you, or your order, at your address
listed above the PRINCIPAL sum of Two Hundred Fifty Thousand and 00/100 Dollars
$250,000.00

[ ]   SINGLE ADVANCE: I will receive all of this principal sum on _____________.
      No additional advances are contemplated under this note

[X]   MULTIPLE ADVANCE: The principal sum shown above is the maximum amount
      of principal I can borrow under this note. On 12/10/2003 I will receive
      the amount of $__________________ and future principal advances are
      contemplated.

      CONDITIONS: The conditions for future advances are PURSUANT TO LOAN
      AGREEMENT OF EVEN DATE.

      [X]   OPEN END CREDIT: You and I agree that I may borrow up to the maximum
            amount of principal more than one time. This feature is subject to
            all other conditions and expires on 12/10/2004.

      [ ]   CLOSED END CREDIT: You and I agree that I may borrow up to the
            maximum only one time (and subject to all other conditions).

INTEREST: I agree to pay interest on the outstanding principal balance from
12/10/2003 at the rate of 6.00% per year until MATURITY.

[ ]   VARIABLE RATE: This rate may then change as stated below.

      [ ]   INDEX RATE: the future rate will be ______ the following index rate:

            ------------------------------------------------------------

      [ ]   NO INDEX: The future rate will not be subject to any internal or
            external index. It will be entirely in your control.

      [ ]   FREQUENCY AND TIMING: The rate on this note may change as often as
            _____________________________.  A change in the interest rate will
            take effect _________________________.

      [ ]   LIMITATIONS: During the term of this loan, the applicable annual
            interest rate will not be more than __________% or less than _____%.
            The rate may not change more than _____________% each _____________.

      EFFECT OF VARIABLE RATE: A change in the interest rate will have the
      following affect on the payments:

      [ ]   The amount of each scheduled payment will change

      [ ]   The amount of the final payment will change.

      [ ]   ____________________________________________

ACCRUAL METHOD:  Interest will be calculated on a ACTUAL/360 basis.

POST MATURITY RATE: I agree to pay interest on the unpaid balance of this note
owing after maturity, and until paid in full, as stated below:

      [ ]  on the same fixed or variable rate basis in effect before maturity
           (as indicated above).

      [X]  At a rate equal to 16%.

<PAGE>
[X]   LATE CHARGE: If a payment is more than 10 days after its is due, I agree
      to pay a late charge of 5% OF PMT AMT W/MIN $5.00 UP TO MAX OF $200.00.

[X]   ADDITIONAL CHARGES: In addition to interest, I agree to pay the following
      charges which [X] are [ ] are not included in the principal amount above:
      SEE DISBURSEMENT STATEMENT PAYMENTS: I agree to pay this note as follows:

[X]   INTEREST: I agree to pay accrued interest monthly beginning 01/10/2004.

[X]   PRINCIPAL: I agree to pay the principal at maturity (12/10/2004).

[ ]   INSTALLMENTS: I agree to pay this note in _________________ payments and
      each payment will be in the amount of $ _______________________ and will
      be due _____________________. A payment of $_______________ will be due
      __________________ thereafter. The final payment of the entire unpaid
      balance of principal and interest will be due __________________________.

[ ]   If checked, and this loan is secured by a (list ____ on ____) ___________,
      then any accrued interest not paid when due (whether due by reason at a
      schedule of payment or due because of lenders demand) will become part of
      the principal thereafter, and will bear interest at the interest rate in
      effect from time to time as provided for in this agreement.

ADDITIONAL TERMS:

[X]   SECURITY: This note is separately secured by (describe separate document,
by type and date):

      SECURITY AGREEMENT dated 12/10/2003 COVERING 246,550 SHARES OF STOCK.
Signature for Lender

/s/ Allan C. Payton
-------------------------------------------
ALLAN C. PAYTON, SENIOR VICE PRESIDENT

PURPOSE: The purpose of this loan it WORKING CAPITAL LINE OF CREDIT.

SIGNATURES AND SEALS: IN WITNESS WHEREOF, I HAVE SIGNED MY NAME AND AFFIXED MY
SEAL ON THIS 10TH DAY OF December, 2003. BY DOING SO, I AGREE TO THE TERMS OF
THIS NOTE (INCLUDING THOSE ON PAGE 2). I HAVE RECEIVED A COPY ON TODAY'S DATE.

eBANK FINANCIAL SERVICES, INC.

/s/ James L. Box                             (Seal)
--------------------------------------------
James L. Box, CEO

                                    (Seal)
------------------------------------
                                    (Seal)
------------------------------------
                                    (Seal)
------------------------------------

[ ]   INSTALLMENTS: I agree to pay this note in _________________ payments and
      each payment will be in the amount of $ _______________________ and will
      be due _____________________. A payment of $_______________ will be due
      __________________ thereafter. The final payment of the entire unpaid
      balance of principal and interest will be due __________________________.

[ ]   If checked, and this loan is secured by a (list ____ on ____) ___________,
      then any accrued interest not paid when due (whether due by reason at a
      schedule of payment or due because of lenders demand) will become part of
      the principal thereafter, and will bear interest at the interest rate in
      effect from time to time as provided for in this agreement.

ADDITIONAL TERMS:

[X]   SECURITY: This note is separately secured by (describe separate document,
by type and date):

      SECURITY AGREEMENT dated 12/10/2003 COVERING 246,550 SHARES OF STOCK.
Signature for Lender

/s/ Allan C. Payton
-------------------------------------------
ALLAN C. PAYTON, SENIOR VICE PRESIDENT

<PAGE>
PURPOSE: The purpose of this loan it WORKING CAPITAL LINE OF CREDIT.

SIGNATURES AND SEALS: IN WITNESS WHEREOF, I HAVE SIGNED MY NAME AND AFFIXED MY
SEAL ON THIS 10TH DAY OF December, 2003. BY DOING SO, I AGREE TO THE TERMS OF
THIS NOTE (INCLUDING THOSE ON PAGE 2). I HAVE RECEIVED A COPY ON TODAY'S DATE.

eBANK FINANCIAL SERVICES, INC.

/s/ James L. Box                             (Seal)
--------------------------------------------
James L. Box, CEO

                                    (Seal)
------------------------------------
                                    (Seal)
------------------------------------
                                    (Seal)
------------------------------------

DEFINITIONS: As used on page 1, "[X]" means the terms first apply to this loan
"I", "me" or "my" means each Borrower who signs this note and each other person
or legal entity (including guarantors, endorsers, and sureties) who agree to
pay this note (together referred to as "us"). "You" or "your" means the Lender
and its successors and assigns.

APPLICABLE LAW: The law of the state of Georgia will govern this note. Any term
of this note which is contrary to applicable law will not be effective, unless
the law permits you and me to agree to such a variation. If any provision of
this agreement cannot be enforced according to its terms, this fact will not
affect the enforceability of the remainder of this agreement. No modification
of this agreement may be made without your express written consent. Time is of
the essence in this agreement.

COMMISSIONS OR OTHER REMUNERATION: I understand and agree that any insurance
premiums paid to insurance companies as part of this note will involve money
retained by you or paid back to you as commissions or other remuneration.

In addition, I understand and agree that some other payments to third parties
as part of this note may also involve money retained by you or paid back to you
as commissions or other remuneration.

PAYMENTS: Each payment I make on this note will first reduce the amount I owe
you for charges which are neither interest nor principal. The remainder of each
payment will then reduce accrued unpaid interest, and then unpaid principal. If
you and I agree to a different application of payments, we will describe our
agreement on this note. I may prepay a part of, or the entire balance of the
loan without penalty, unless we specify to the contrary on this note. Any
partial prepayment will not excuse or reduce any later scheduled payment until
this note is paid in full (unless, when I make the prepayment, you and I agree
in writing to the contrary).

INTEREST: Interest accrues on the principal remaining unpaid from time to time,
until paid in full. If I receive the principal in more than one advance, each
advance will start to earn interest only when I receive the advance. The
interest rate in effect on this note at any given time will apply to the entire
principal advanced at that time. You and I may provide in this agreement for
accrued interest not paid when due to be added to principal. Notwithstanding
anything to the contrary, I do not agree to pay and you do not intend to charge
any rate of interest that is higher than the maximum rate of interest you could
charge under applicable law for the extension of credit that is agreed to here
(either before or after maturity). If any notice of interest accrual is sent
and is in error, we mutually agree to correct it, and if you actually collect
more interest than allowed by law and this agreement, you agree to refund it to
me.

INDEX RATE: The index will serve only as a device for setting the rate on this
note. You do not guarantee by selecting this index, or the margin, that the
rate on this note will be the same rate you charge on any other loans or class
of loans to me or other borrowers.

ACCRUAL METHOD: The amount of interest that I will pay on this loan will be
calculated using the interest rate and accrual method stated on page 1 of this
note. For the purpose of interest calculation, the accrual method is stated,
then you may use any reasonable accrual method for calculating interest.

POST MATURITY RATE: For purposes of deciding when the "Post Maturity Rate"
(shown on page 1) applies, the term "maturity" means the date of the last
scheduled payment indicated on page 1 of this note or the date you accelerate
payment on the note, whichever is earlier.

SINGLE ADVANCE LOANS: If this is a single advance loan, you and I expect that
you will make only one advance of principal. However, you may add other amounts
to the principal if you make any payments described in the "PAYMENTS BY LENDER"
paragraph below, or if we have agreed that accrued interest not paid when due
may be added to principal.

MULTIPLE ADVANCE LOANS: If this is a multiple advance loan, you and I expect
that you will make more than one advance of principal. If this is closed and
credit repaying a part of this principal will not entitle me to additional
credit.

<PAGE>
PAYMENTS BY LENDER: If you are authorized to pay, on my behalf, charges I am
obligated to pay (such as property insurance premiums), then you may treat
those payments made by you as advances and add them to the unpaid principal
under this note, as you may demand immediate payment of the charges.

SET-OFF: I agree that you may set off any amount due and payable under this
note against any right I have to receive money from you.

   "Right to receive money from you" means:

   (1)  any deposit account balance I have with you;

   (2) any money owed to me on an item presented to you or in your possession
   for collection or exchange; and

   (3) any repurchase agreement or other non-deposit obligation.

         "Any amount due and payable under this note" means the total amount of
which you are entitled to demand payment under the terms of this note at the
time you set-off. This total includes any balance the due date for which you
properly accelerate under this note.

If my right to receive money from you is also owned by someone who has not
agreed to pay this note, your right of set-off will apply to my interest in the
obligation and to any other amounts I could withdraw on my sole request or
endorsement. Your right of set-off does not apply to an account or other
obligation where my rights are only as a representative. It also does not apply
to any Individual Retirement Account or other tax-deferred retirement account.

You will not be liable for the dishonor of any check when the dishonor occurs
because you set off this debt against any of my accounts. I agree to hold you
harmless from any such claims arising as a result of your exercise of your
right to set-off.

REAL ESTATE OR RESIDENCE SECURITY: If this note is secured by real estate or a
residence that is personal property, the existence or a default and your
remedies for such a default will be determined by applicable law, by the terms
of any separate instrument creating the security interest and to the extent not
prohibited by law and not contrary to the terms of the separate security
instrument, by the "Default" and Remedies" paragraphs herein.

DEFAULT: I will be in default if any one or more of the following occur: (1) I
fail to make a payment on time or in the amount due; (2) I fail to keep the
property insured, if required: (3) I fail to pay, or keep any promise, on any
debt or agreement I have with you; (4) any other creditor of mine attempts to
collect any debt I owe him through court proceedings; (5) I die, am declared
incompetent, make an assignment for the benefit of creditors, or become
insolvent (either because my liabilities exceed my assets or I am unable to pay
my debts as they become due); (6) I make any written statement or provide any
financial information that is untrue or inaccurate at the time it was provided;
(7) I do or fail to do something which causes you to believe that you will have
difficulty collecting the amount I owe you; (8) any collateral securing this
note is used in a manner or for a purpose which threatens confiscation by a
legal authority; (9) I change my name or assume an additional name without
first notifying you before making such a change; (10) I fail to plant,
cultivate and harvest crops in due season; (11) any loan proceeds are used for
a purpose that will contribute to excessive erosion of highly erodible land or
to the conversion of wetlands to produce an agricultural commodity, as further
explained in 7 C.F.R. Part 1940, Subpart G, Exhibit M.

REMEDIES: If I am in default on this note you have, but are not limited to, the
following remedies:

   (1)  You may demand immediate payment of all I owe you under this note
        (principal, accrued unpaid interest and other accrued charges).

   (2)  You may set-off this debt against any right I have to the payment of
        money from you, subject to the terms of the "Set-Off" paragraph herein.

   (3)  You may demand security, additional security, or additional parties to
        be obligated to pay this note as a condition of not using any other
        remedy.

<PAGE>

   (4)  You may refuse to make advances to me or allow purchases on credit by
        herein.

   (5)  You may use any remedy you have under state or federal law.

By selecting any one or more of those remedies you do not give up your right to
later use any other remedy. By waiving your right to declare an event to be a
default, you do not waive your right to later consider the event as a default
if it continues or happens again.

COLLECTION COSTS AND ATTORNEY'S FEES: I agree to pay all costs of collection,
replevin or any other or similar type or costs if I am in default. In addition,
if you fire an attorney to collect this note. I also agree to pay attorney's
fees of 15 percent of the principal and interest then owed, plus court costs
(except where prohibited by law). To the extent permitted by the United States
Bankruptcy Code, I also agree to pay the reasonable attorney's fees and costs
you incur to collect this debt as awarded by any court exercising jurisdiction
under the Bankruptcy Code.

WAIVER: I give up my rights to require you to do certain things, I will not
require you to:

   (1) demand payment of amounts due (presentment);

   (2) obtain official certification of nonpayment (protest);

   (3) give notice that amounts due have not been paid (notice of dishonor); or

   (4) give me notice prior to seizure of my personal property when you are
       seeking to foreclose a secured interest in any of my personal property
       used to secure a commercial transaction.

I waive any defenses I have based on suretyship or impairment of collateral.

OBLIGATIONS INDEPENDENT: I understand that I must pay this note even if someone
else has also agreed to pay it (by, for example, signing this form or a
separate guarantee or endorsement. You may sue me alone, or anyone else who is
obligated on this note, or any number of us together to collect this note. You
may do so without any notice that it has not been paid (notice of dishonor).
You may without notice release any party to this agreement without releasing
any other party. If you give up any of your rights, with or without notice, it
will not affect my duty to pay this note. Any extension of new credit to any of
us, or renewal of this note by all or less than all of us will not release me
from my duty to pay it. (Of course, you are entitled to only one payment in
full.) I agree that you may at your option extend this note or the debt
represented by this note, or any portion of the note or debt, from time to time
without limit or notice and for any term without affecting my liability for
payment of the note. I will not assign my obligation under this agreement
without your prior written approval.

FINANCIAL INFORMATION: I agree to provide you, upon request, any financial
statement or information you may deem necessary. I warrant that the financial
statements and information I provide to you are or will be accurate, correct
and complete.

NOTICE: Unless otherwise required by law, any notice to me shall be given by
delivering it or by mailing it by first class mail addressed to me at my last
known address. My current address in on page 1. I agree to inform you in
writing of any change in my address. I will give any notice to you by mailing
it first class to your address stated on page 1 of this agreement, or to any
other address that you have designated.

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