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                                                                   EXHIBIT 10.10

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT is made as of this ____ day of _____________,
2000, by and among FUTURUS BANK, NATIONAL ASSOCIATION (Proposed) (the "Bank"), a
proposed national bank; FUTURUS FINANCIAL SERVICES, INC., a corporation
organized under the laws of the State of Georgia (the "Company"), and Suzanne T.
Phipps, a resident of the State of Georgia (the "Executive").

                                    RECITALS:

         The Bank desires to employ the Executive as a Senior Vice President of
the Bank, and the Executive desires to accept such employment.

      In consideration of the mutual covenants contained herein and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Employer and Executive hereby agree as follows:

1. DEFINITIONS. Whenever used in this Agreement, the following terms and their
variant forms shall have the meaning set forth below:

   1.1 "AGREEMENT" shall mean this Agreement and any exhibits incorporated
herein together with any amendments hereto made in the manner described in this
Agreement.

   1.2 "AFFILIATE" shall mean any business entity which controls the Bank, is
controlled by or is under common control with the Bank.

   1.3 "AREA" shall mean the geographic area within a radius of eighteen (18)
miles of the Bank's main office, to be located at _____ Windward Parkway,
Alpharetta, Georgia 30004. It is the express intent of the parties that the Area
as defined herein is the area where the Executive performs or performed services
on behalf of the Bank under this Agreement as of, or within a reasonable time
prior to, the termination of the Executive's employment hereunder.

   1.4 "BEGINNING DATE" shall mean , 2000.

   1.5 "BUSINESS OF THE BANK" shall mean the business conducted by the Bank,
which is the business of commercial banking.

   1.6 "CAUSE" shall mean:

       1.6.1 With respect to termination by the Bank:

           (a) A material breach of the terms of this Agreement by the
       Executive, including, without limitation, failure by the Executive to
       perform his or her duties and responsibilities in the manner and to the
       extent required under this Agreement, which

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       remains uncured after the expiration of thirty (30) days following the
       delivery of written notice of such breach to the Executive by the Bank.

           (b) Conduct by the Executive that amounts to fraud, dishonesty or
       willful misconduct in the performance of his or her duties and
       responsibilities hereunder;

           (c) Arrest for, charged in relation to (by criminal information,
       indictment or otherwise), or conviction of the Executive during the term
       of this Agreement of a crime involving breach of trust or moral
       turpitude;

           (d) Conduct by the Executive that amounts to gross and willful
       insubordination or inattention to his or her duties and responsibilities
       hereunder; or

           (e) Conduct by the Executive that results in removal from his or her
       position as an officer or Executive of the Bank pursuant to a written
       order by any regulatory agency with authority or jurisdiction over the
       Bank.

           (f) Receipt by the Bank of written notice from the Office of the
       Comptroller of the Currency "OCC") that the OCC has criticized the
       Executive's performance or his or her area of responsibility, AND has
       either (i) rated the Bank a "4" or "5" under the Uniform Financial Rating
       System or (ii) has determined that the Bank is in a "troubled condition"
       as defined under Section 914 of the Financial Institutions Reform,
       Recovery and Enforcement Act of 1989;

       1.6.2   With respect to termination by the Executive, a material
diminution in the powers, responsibilities or duties of the Executive hereunder
or a material breach of the terms of this Agreement by the Bank, which remains
uncured after the expiration of thirty (30) days following the delivery of
written notice of such breach to the Bank by the Executive.

1.7    "CHANGE OF CONTROL" means any one of the following events:

           (a) the acquisition by any person or persons acting in concert of the
       then outstanding voting securities of either the Bank or the Company, if,
       after the transaction, the acquiring person (or persons) owns, controls
       or holds with power to vote fifty percent (50%) or more of any class of
       voting securities of either the Bank or the Company, as the case may be;

           (b) within any twelve-month period (beginning on or after the
       Beginning Date) the persons who were directors of either the Bank or the
       Company immediately before the beginning of such twelve-month period (the
       "Incumbent Directors") shall cease to constitute at least a majority of
       such board of directors; provided that any director who was not a
       director as of (the Beginning Date) shall be deemed to be an Incumbent
       Director if that director were elected to such board of directors by, or
       on the recommendation of or with the approval of, at least two-thirds of
       the directors who then qualified as Incumbent Directors; and provided
       further that no director whose initial assumption of office is in
       connection with an actual or threatened election contest (as such terms
       are used in Rule 14a-11 of Regulation 14A promulgated under the
       Securities

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       Exchange Act of 1934) relating to the election of directors shall be
       deemed to be an Incumbent Director;

           (c) a reorganization, merger or consolidation, with respect to which
       persons who were the stockholders of the Bank or the Company, as the case
       may be, immediately prior to such reorganization, merger or consolidation
       do not, immediately thereafter, own more than fifty percent (50%) of the
       combined voting power entitled to vote in the election of directors of
       the reorganized, merged or consolidated company's then outstanding voting
       securities; or

           (d) the sale, transfer or assignment of all or substantially all of
       the assets of the Company and its subsidiaries to any third party.

   1.8 "COMPANY INFORMATION" means Confidential Information and Trade Secrets.

   1.9 "CONFIDENTIAL INFORMATION" means data and information relating to the
business of the Bank or the Company (which does not rise to the status of a
Trade Secret) which is or has been disclosed to the Executive or of which the
Executive became aware as a consequence of or through the Executive's
relationship to the Bank and which has value to the Bank and is not generally
known to its competitors. Confidential Information shall not include any data or
information that has been voluntarily disclosed to the public by the Bank
(except where such public disclosure has been made by the Executive without
authorization) or that has been independently developed and disclosed by others,
or that otherwise enters the public domain through lawful means.

   1.10 "INITIAL TERM" shall mean that period of time commencing on the
Beginning Date and running until the earlier of the close of business on the
last business day immediately preceding the third anniversary of the Beginning
Date or any termination of employment of the Executive under this Agreement as
provided for in Section 3.

   1.11 "PERMANENT DISABILITY" shall mean the total inability of the Executive
to perform his or her duties under this Agreement for the duration of the
short-term disability period under the Bank's policy then in effect as certified
by a physician chosen by the Bank and reasonably acceptable to the Executive.

   1.12 "TERM" shall mean the Initial Term and all subsequent renewal periods.

   1.13 "TRADE SECRETS" means Bank or Company information including, but not
limited to, technical or nontechnical data, formulas, patterns, compilations,
programs, devices, methods, techniques, drawings, processes, financial data,
financial plans, product plans or lists of actual or potential customers or
suppliers which:

           (a) 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

           (b) is the subject of efforts that are reasonable under the
       circumstances to maintain its secrecy.

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2.    DUTIES.

      2.1 POSITION. The Executive is employed initially as a Senior Vice
President of the Bank and, subject to the direction of the Chief Executive
Officer of the Bank or his designee(s), shall perform and discharge well and
faithfully the duties which may be assigned to him or her from time to time by
the Bank in connection with the conduct of its business. The duties and
responsibilities of the Executive are set forth on EXHIBIT A attached hereto.

      2.2 FULL-TIME STATUS. In addition to the duties and responsibilities
specifically assigned to the Executive pursuant to Section 2.1 hereof, the
Executive shall:

            (a) devote substantially all of his or her time, energy and skill
          during regular business hours to the performance of the duties of his
          or her employment (reasonable vacations and reasonable absences due to
          illness excepted) and faithfully and industriously perform such
          duties;

            (b) diligently follow and implement all reasonable and lawful
          management policies and decisions communicated to him or her by the
          Chief Executive Officer of the Bank; and

            (c) timely prepare and forward to the Chief Executive Officer of the
          Bank all reports and accounting as may be requested of the Executive.

      2.3 PERMITTED ACTIVITIES. The Executive shall devote his or her entire
business time, attention and energies to the Business of the Bank and shall not
during the Term be engaged (during normal business hours) in any other business
or professional activity, whether or not such activity is pursued for gain,
profit or other pecuniary advantage; but this shall not be construed as
preventing the Executive from:

             (a) investing his or her personal assets in businesses which
          (subject to clause (b) below) are not in competition with the Business
          of the Bank and which will not require any services on the part of the
          Executive in their operation or affairs and in which his or her
          participation is solely that of an investor;

             (b) purchasing securities in any corporation whose securities are
          regularly traded provided that such purchase shall not result in him
          or her collectively owning beneficially at any time five percent (5%)
          or more of the equity securities of any business in competition with
          the Business of the Bank; and

             (c) participating in civic and professional affairs and
          organizations and conferences, preparing or publishing papers or books
          or teaching so long as the Chief Executive Officer of the Bank
          approves of such activities prior to the Executive's engaging in them.

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3.    TERM AND TERMINATION.

      3.1 TERM.This Agreement shall remain in effect for the Initial Term. At
the end of the Initial Term and at the end of each twelve-month extension
thereof, this Agreement shall automatically be extended for a successive
twelve-month period unless either party gives written notice to the other of its
intent not to extend this Agreement with such written notice to be given not
less than sixty (60) days prior to the end of the Initial Term or such
twelve-month period. In the event such notice of non-extension is properly
given, this Agreement shall terminate at the end of the remaining term then in
effect.

      3.2 TERMINATION. During the Term, the employment of the Executive under
this Agreement may be terminated only as follows:

          3.2.1 By the Bank in the event that the Bank fails to receive its
          regulatory charter, or the Company fails to raise the necessary
          capital required to open the Bank, neither of which are caused by
          actions taken by the Executive, and should the Bank's Board of
          Directors decide to forgo future efforts to open the Bank in which
          event the Bank shall be required to continue to pay the Executive his
          or her Base Salary as defined in Section 4.1 for twelve (12) months
          following the termination or until the Executive finds other
          employment, whichever period is shorter.

          3.2.2 By the Bank:

                (a) FOR CAUSE, upon written notice to the Executive pursuant to
              Section 1.6.1 hereof, in which event the Bank shall have no
              further obligation to the Executive except for the payment of any
              amounts due and owing under Section 4 on the effective date of
              termination;

                (b) WITHOUT CAUSE at any time, provided that the Bank shall give
              the Executive thirty (30) days' prior written notice of its intent
              to terminate, in which event the Bank shall be required to
              continue to pay the Executive his or her Base Salary as defined in
              Section 4.1 for twelve (12) months following the termination; or

                (c) UPON THE PERMANENT DISABILITY of Executive at any time,
              provided that the Bank shall give the Executive thirty (30) days'
              prior written notice of its intent to terminate, in which event
              the Bank shall be required to pay the Executive his or her then
              existing Base Salary as defined in Section 4.1 for twelve (12)
              months following the termination or until the Executive begins
              receiving payments under the Bank's long-term disability policy,
              whichever occurs first.

          3.2.3 By the Executive:

                (a) FOR CAUSE, in which event the Bank shall be required to pay
              the Executive his or her then existing Base Salary as defined in
              Section 4.1 for twelve (12) months following the termination; or

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                (b) WITHOUT CAUSE OR UPON THE PERMANENT DISABILITY of the
              Executive, provided that the Executive shall give the Bank sixty
              (60) days' prior written notice of his or her intent to terminate,
              in which event the Bank shall have no further obligation to the
              Executive except future payment of any amounts due and owing on
              the effective date of the termination.

          3.2.4 At any time upon mutual, written agreement of the parties, in
          which event the Bank shall have no further obligation to the Executive
          except for the payment of any amounts due and owing under this
          Agreement on the effective date of termination unless otherwise set
          forth in the written agreement.

          3.2.5 Notwithstanding anything in this Agreement to the contrary, the
          Term shall end automatically upon the Executive's death, in which
          event the Bank shall have no further obligation to the Executive
          except for the payment of any amounts due and owing under this
          Agreement on the effective date of termination.

   3.3 CHANGE OF CONTROL. If, during the Term of this Agreement and within one
(1) year immediately following a Change of Control or within six (6) months
immediately prior to a Change of Control, the Executive's employment with the
Bank under this Agreement is terminated by the Bank (or its successors) other
than for Cause, the Executive, or in the event of his or her subsequent death,
his or her designated beneficiaries or his or her estate, as the case may be,
shall receive, as liquidated damages, in lieu of all other claims, a severance
payment equal to one (1) times the Executive's then current Base Salary during
the immediately preceding twelve (12) months, to be paid in full on the last day
of the month following the date of termination. In no event shall the payment(s)
described in this Section 3.3 exceed the amount permitted by Section 280G of the
Internal Revenue Code (as amended). Therefore, if the aggregate present value
(determined as of the date of the Change of Control in accordance with the
provisions of Section 280G of the Internal Revenue Code (as amended) or any
successor thereof and the regulations and rulings thereunder ("Section 280G"))
of both the severance payment and all other payments to the Executive in the
nature of compensation which are contingent on a change in ownership or
effective control of the Bank or the Company or in the ownership of a
substantial portion of the assets of the Bank or the Company (the "Aggregate
Severance") would result in a parachute payment (as determined under Section
280G) then the Aggregate Severance shall not be greater than an amount equal to
2.99 multiplied by Executive's base amount (as determined under Section 280G)
for the base period (as determined under Section 280G). In the event the
Aggregate Severance is required to be reduced pursuant to this Section 3.3, the
Executive shall be entitled to determine which portions of the Aggregate
Severance are to be reduced so that the Aggregate Severance satisfies the limit
set forth in the preceding sentence. The Executive's average annual compensation
shall be based on the most recent five taxable years ending before the Change of
Control (or the period during which the Executive was employed by the Bank if
the Executive has been employed by the Bank for less than five years).

   3.4 EFFECT OF TERMINATION. Termination of the employment of the Executive
pursuant to Section 3.2 or Section 3.3 shall be without prejudice to any right
or claim which may have previously accrued to either the Bank or the Executive
hereunder and shall not terminate, alter,

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supersede or otherwise affect the terms and covenants and the rights and duties
prescribed in this Agreement.

4. COMPENSATION. The Executive shall receive the following salary and benefits
described in Exhibit B, attached hereto and made a part hereof:

   4.1 BASE SALARY. During the Initial Term, the Executive shall be compensated
at a base rate of $77,000 annually (the "Base Salary"). The Executive's Base
Salary shall be reviewed by the Chief Executive Officer of the Bank at least
annually, and the Executive shall be entitled to receive annually an increase in
such amount, if any, as may be determined by the Board of Directors. Base Salary
shall be payable in accordance with the Bank's normal payroll practices.

   4.2 INCENTIVE COMPENSATION. The Executive shall be entitled to annual bonus
compensation, if any, in accordance with the terms specified in EXHIBIT B
attached hereto.

   4.3 STOCK OPTIONS.

       (a) As of the date the Company's initial public offering is closed, the
   Company will have established a stock option plan and will grant to the
   Executive an incentive stock option to purchase, at a per share purchase
   price equal to the Company's initial stock offering price, 5,000 shares of
   the Company's common stock. The option will become vested and exercisable in
   20% increments, commencing on the first anniversary of the option grant date
   and continuing for the next four successive anniversaries until the option is
   fully vested and exercisable. The option shall expire generally upon the
   earlier of ninety (90) days following termination of employment or upon the
   tenth anniversary of the option grant date.

       (b) If the Bank successfully exceeds 110% of the Bank's "Plan" as
   determined by the Bank's Board of Directors for fiscal year 2001, the Company
   will grant the Executive a stock option to purchase, at a per share price
   equal to $10.00 per share, 2,500 shares of the Company's common stock. The
   option will become vested and exercisable in 20% increments, commencing on
   the first anniversary of the option grant date and continuing for the next
   four successive anniversaries until the option is fully vested and
   exercisable. The option shall expire generally upon the earlier of ninety
   (90) days following termination of employment or upon the tenth anniversary
   of the option grant date. The option will be an incentive stock option if the
   fair market value of the Company's common stock is equal to or less than
   $10.00 per share on the date of grant. The option will be a non-qualified
   stock option if the fair market value of the Company's common stock is
   greater than $10.00 per share on the date of grant.

       (c) Notwithstanding any other provision of this Agreement, if the Bank's
   capital falls below the minimum requirements determined by the primary
   federal or state regulator of the Company or the Bank (the "Regulator"), the
   Regulator may direct the Company to require the Executive to exercise or
   forfeit his or her incentive stock option granted under Section 4.3(a)
   herein. The Company will notify the Executive within 45 days from the date
   the Regulator notifies the Company or Bank in writing that the Executive must
   exercise or forfeit his or her incentive stock options. The Company will
   cancel the incentive stock options if not exercised within 21 days of the
   Company's notification to the Executive. The

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   Company agrees to comply with any Regulator's request that the Company invoke
   its right to require the Executive to exercise or forfeit his or her
   incentive stock options under the circumstances stated above."

       (d) The Executive will be eligible to receive additional stock options in
   the discretion of the Board of Directors of the Bank and the Company.

       (e) In the event a Change of Control occurs after the third anniversary
   of the Executive's beginning employment date with the Company, all options
   granted to the Executive shall become one hundred percent (100%) vested and
   exercisable.

       (f) In the event of the Executive's Permanent Disability or death, all of
   the options granted to the Executive that would have vested during the
   calendar year in which the Executive is determined to have a Permanent
   Disability or dies, shall become one hundred percent (100%) vested and
   exercisable as of the date the Executive is determined to have a Permanent
   Disability or as of the Executive's death, as applicable.

       (g) The options granted to the Executive shall be nontransferable other
   than by will or the laws of descent and distribution and shall be exercisable
   during the lifetime of the Executive only by the Executive (or in the event
   of her Disability, by her personal representative) and after her death, only
   by her legatee or the executor of her estate.

   4.4 HEALTH INSURANCE.

       (a) The Bank shall reimburse the Executive for the cost of premium
   payments paid by the Executive for the Executive's current health insurance
   covering the Executive and the members of his or her immediate family:

           (i) until such time as the Company adopts a health insurance plan for
       employees of the Company and the Bank; or

           (ii) until the Company and the Bank abandon their organizational
       efforts or for twelve (12) months after the Beginning Date, whichever is
       later.

       (b) In the event of termination by the Executive FOR CAUSE (Section
   3.2.3(a)) or following a CHANGE OF CONTROL (Section 3.3), the Bank shall
   reimburse Executive for the cost of premium payments paid by the Executive to
   continue his or her then existing health insurance as provided by the Bank
   for a period of six (6) months following the date of termination of
   employment.

       (c) In the event of termination by the Bank WITHOUT CAUSE (Section
   3.2.2(b)), the Bank shall reimburse the Executive for the cost of premium
   payments paid by the Executive to continue his or her then existing health
   insurance as provided by the Bank or the Company for a period of twelve (12)
   months following the date of termination of employment.

   4.5 AUTOMOBILE. The Bank will provide the Executive with an automobile
allowance of $300 per month.

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   4.6 BUSINESS EXPENSES. The Bank specifically agrees to reimburse the
Executive for:

       (a) reasonable business expenses incurred by him or her in the
   performance of his or her duties hereunder, as approved from time to time by
   the Chief Executive Officer of the Bank; and

       (b) the dues and business related expenditures, including initiation
   fees, associated with membership in a single civic association as selected by
   the Executive and in professional associations which are commensurate with
   his or her position; provided, however, that the Executive shall, as a
   condition of reimbursement, submit verification of the nature and amount of
   such expenses in accordance with reimbursement policies from time to time
   adopted by the Bank and in sufficient detail to comply with rules and
   regulations promulgated by the Internal Revenue Service.

   4.7 BENEFITS. In addition to the benefits specifically described in this
Agreement, the Executive shall be entitled to such benefits as may be available
from time to time to other executives of the Bank who are similarly situated to
the Executive. All such benefits shall be awarded and administered in accordance
with the Bank's standard policies and practices. Such benefits may include, by
way of example only, profit-sharing plans, retirement or investment funds,
dental, health, life and disability insurance benefits and such other benefits
as the Bank deems appropriate.

   4.8 WITHHOLDING. The Bank may deduct from each payment of compensation
hereunder all amounts required to be deducted and withheld in accordance with
applicable federal and state income, FICA and other withholding requirements.

5. COMPANY INFORMATION.

   5.1 OWNERSHIP OF COMPANY INFORMATION. All Company Information received or
developed by the Executive while employed by the Bank will remain the sole and
exclusive property of the Company or the Bank, as applicable.

   5.2 OBLIGATIONS OF THE EXECUTIVE. The Executive agrees:

       (a) to hold Company Information in strictest confidence;

       (b) not to use, duplicate, reproduce, distribute, disclose or otherwise
   disseminate Company Information or any physical embodiments of Company
   Information; and

       (c) in no event may take any action causing or fail to take any action
   necessary in order to prevent any Company Information from losing its
   character or ceasing to qualify as Confidential Information or a Trade
   Secret.

In the event that the Executive is required by law to disclose any Company
Information, the Executive will not make such disclosure unless (and then only
to the extent that) the Executive has been advised by independent legal counsel
that such disclosure is required by law and then only

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after prior written notice is given to the Company when the Executive becomes
aware that such disclosure has been requested and is required by law. The Bank
will pay the legal counsel's fees, provided that the Bank has approved the legal
counsel to be used. This Section 5 shall survive for a period of eighteen (18)
months following termination of this Agreement for any reason with respect to
Confidential Information, and shall survive termination of this Agreement for
any reason for so long as is permitted by the then-current Georgia Trade Secrets
Act of 1990, O.C.G.A. Section 10-1-760-10-1-767, with respect to Trade Secrets.

   5.3 DELIVERY UPON REQUEST OR TERMINATION. Upon request by the Bank, and in
any event upon termination of his or her employment with the Bank, the Executive
will promptly deliver to the Bank all property belonging to the Bank, including,
without limitation, all Company Information then in his or her possession or
control.

6. NON-COMPETITION. The Executive agrees that during his or her employment by
the Bank hereunder and, in the event of his or her termination:

   -    by the Bank For Cause pursuant to Section 3.2.2(a),

   -    by the Executive Without Cause pursuant to Section 3.2.3(b), or

   -    in connection with a Change of Control pursuant to Section 3.3,

for a period of eighteen (18) months thereafter, he or she will not (except on
behalf of or with the prior written consent of the Bank), within the Area,
either directly or indirectly, on his or her own behalf or in the service or on
behalf of others, as an executive employee or in any other capacity which
involves duties and responsibilities similar to those undertaken for the Bank
(including as an organizer or proposed executive officer of a new financial
institution), or engage in any business which is the same as or essentially the
same as the Business of the Bank.

7. NON-SOLICITATION OF CUSTOMERS. The Executive agrees that during his or her
employment by the Bank hereunder and, in the event of his or her termination:

   -    by the Bank For Cause pursuant to Section 3.2.2(a),

   -    by the Executive Without Cause pursuant to Section 3.2.3(b), or

   -    in connection with a Change of Control pursuant to Section 3.3,

for a period of eighteen (18) months thereafter, he or she will not (except on
behalf of or with the prior written consent of the Bank), within the Area, on
his or her own behalf or in the service or on behalf of others, solicit, divert
or appropriate or attempt to solicit, divert or appropriate, any business from
any of the Bank's customers, including actively sought prospective customers,
with whom the Executive has or had material contact during the last two (2)
years of his or her employment, for purposes of providing products or services
that are competitive with those provided by the Bank.

8. NON-SOLICITATION OF EMPLOYEES. The Executive agrees that during his or her
employment by the Bank hereunder and, in the event of his or her termination:

   -    by the Bank For Cause pursuant to Section 3.2.2(a),

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   -    by the Executive Without Cause pursuant to Section 3.2.3(b), or

   -    in connection with a Change of Control pursuant to Section 3.3,

for a period of eighteen (18) months thereafter, he or she will not, within the
Area, on his or her own behalf or in the service or on behalf of others,
solicit, recruit or hire away or attempt to solicit, recruit or hire away, any
employee of the Bank or its Affiliates, whether or not:

   -  such employee is a full-time employee or a temporary employee of the Bank
      or its Affiliates

   -  such employment is pursuant to written agreement, and

   -  such employment is for a determined period or is at will.

9. REMEDIES. The Executive agrees that the covenants contained in Sections 5
through 8 of this Agreement are of the essence of this Agreement; that each of
the covenants is reasonable and necessary to protect the business, interests and
properties of the Bank, and that irreparable loss and damage will be suffered by
the Bank should he or she breach any of the covenants. Therefore, the Executive
agrees and consents that, in addition to all the remedies provided by law or in
equity, the Bank shall be entitled to a temporary restraining order and
temporary and permanent injunctions to prevent a breach or contemplated breach
of any of the covenants. The Bank and the Executive agree that all remedies
available to the Bank or the Executive, as applicable, shall be cumulative.

10. SEVERABILITY. The parties agree that each of the provisions included in this
Agreement is separate, distinct and severable from the other provisions of this
Agreement and that the invalidity or unenforceability of any Agreement provision
shall not affect the validity or enforceability of any other provision of this
Agreement. Further, if any provision of this Agreement is ruled invalid or
unenforceable by a court of competent jurisdiction because of a conflict between
the provision and any applicable law or public policy, the provision shall be
redrawn to make the provision consistent with and valid and enforceable under
the law or public policy.

11. NO SET-OFF BY THE EXECUTIVE. The existence of any claim, demand, action or
cause of action by the Executive against the Bank, or any Affiliate of the Bank,
whether predicated upon this Agreement or otherwise, shall not constitute a
defense to the enforcement by the Bank of any of its rights hereunder.

12. NOTICE. All notices and other communications required or permitted under
this Agreement shall be in writing and, if mailed by prepaid first-class mail or
certified mail, return receipt requested, shall be deemed to have been received
on the earlier of the date shown on the receipt or three (3) business days after
the postmarked date thereof. In addition, notices hereunder may be delivered by
hand or overnight courier, in which event the notice shall be deemed effective
when delivered. All notices and other communications under this Agreement shall
be given to the parties hereto at the following addresses:

             (i)  If to the Bank, to it at:

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             (ii) If to the Executive, to him or her at:

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13. ASSIGNMENT. Neither party hereto may assign or delegate this Agreement or
any of its rights and obligations hereunder without the written consent of the
other party to this Agreement.

14. WAIVER. A waiver by one party to this Agreement of any breach of this
Agreement by the other party to this Agreement shall not be effective unless in
writing, and no waiver shall operate or be construed as a waiver of the same or
another breach on a subsequent occasion.

15. ARBITRATION. Any controversy or claim arising out of or relating to this
contract, or the breach thereof, shall be settled by binding arbitration in
accordance with the Commercial Arbitration Rules of the American Arbitration
Association. Judgment upon the award rendered by the arbitrator may be entered
only in the State Court of Fulton County or the federal court for the Northern
District of Georgia. The Bank and the Executive agree to share equally the fees
and expenses associated with the arbitration proceedings.

16. ATTORNEYS' FEES. In the event that the parties have complied with this
Agreement with respect to arbitration of disputes and litigation ensues between
the parties concerning the enforcement of an arbitration award, the party
prevailing in such litigation shall be entitled to receive from the other party
all reasonable costs and expenses, including without limitation attorneys' fees,
incurred by the prevailing party in connection with such litigation, and the
other party shall pay such costs and expenses to the prevailing party promptly
upon demand by the prevailing party.

17. APPLICABLE LAW. This Agreement shall be construed and enforced under and in
accordance with the laws of the State of Georgia.

18. INTERPRETATION. Words importing any gender include all genders. Words
importing the singular form shall include the plural and vice versa. The terms
"herein", "hereunder", "hereby", "hereto", "hereof" and any similar terms refer
to this Agreement. Any captions, titles or headings preceding the text of any
article, section or subsection herein are solely for convenience of reference
and shall not constitute part of this Agreement or affect its meaning,
construction or effect.

19. ENTIRE AGREEMENT. This Agreement embodies the entire and final agreement of
the parties on the subject matter stated in this Agreement. No amendment or
modification of this Agreement shall be valid or binding upon the Bank or the
Executive unless made in writing and signed by both parties. All prior
understandings and agreements relating to the subject matter of this Agreement
are hereby expressly terminated.

20. RIGHTS OF THIRD PARTIES. Nothing herein expressed is intended to or shall be
construed to confer upon or give to any person, firm or other entity, other than
the parties hereto and their permitted assigns, any rights or remedies under or
by reason of this Agreement.

                                       12
<PAGE>

21. SURVIVAL. The obligations of the Executive pursuant to Sections 5, 6, 7, 8
and 9 shall survive the termination of the employment of the Executive hereunder
for the period designated under each of those respective sections.

      IN WITNESS WHEREOF, the Bank and the Executive have executed and delivered
this Agreement as of the date first shown above.

                                             THE BANK:

                                             FUTURUS BANK, NATIONAL ASSOCIATION

                                             By:
                                                -----------------------
                                             Print Name:
                                                         -----------------------
                                             Title:
                                                   -----------------------

                                             THE COMPANY:

                                             FUTURUS FINANCIAL SERVICES, INC.

                                             By:
                                                -----------------------
                                             Print Name:
                                                         -----------------------
                                             Title:
                                                   -----------------------

                                             THE EXECUTIVE:

                                             -----------------------
                                             SUZANNE T. PHIPPS

                                       13
<PAGE>

                                    EXHIBIT A

                         INITIAL DUTIES OF THE EXECUTIVE

FUNCTION:

Has overall responsibility for the bank's commercial, consumer and real estate
loan portfolio and overall asset quality.

PRINCIPAL ACCOUNTABILITIES:

1.       Responsible for the establishment and maintenance of all loan policies
         paying particular attention to underwriting guidelines, loan
         administration policies, credit information and collection procedures.

2.       Originates and approves commercial business loans, real estate loans,
         and consumer loans acting within the approved loan limits and
         guidelines approved by the Board of Directors. Submits loans exceeding
         executive's loan limits to the Loan Committee for approval.

3.       Recommends to the President additional loan loss provisions to insure
         compliance with the current loan classification standards.

4.       Responsible for the review of new or renewed loans to identify
         potential credit problems. Also, establishes and maintains an
         appropriate loan quality rating system and develops strategy on any
         deteriorating credit situations and makes recommendations for improving
         the bank's position, if necessary.

5.       Recommends to the President commercial business loan, real estate loan,
         and consumer loan goals and the pricing of all loan products.

6.       Along with the President and Chief Financial Officer/Chief Operations
         Officer, monitors the bank's interest rate risk exposure, especially as
         it relates to the loan portfolio volume and pricing.

7.       Responsible for the bank's lending function, development of a
         participation network, and establishment of appropriate production and
         profitability goals.

8.       Manages the loan operations function and the centralized loan
         documentation function to ensure that all documentation is in order and
         that liens are perfected.

9.       Serves as the bank's CRA Officer and, as such, formulates and maintains
         a program designed to ensure optimum compliance with the Community
         Reinvestment Act (CRA) and the Home Mortgage Disclosure Act (HMDA).

10.      Conducts special projects, assists on committees, and performs other
         activities as requested to contribute to the continued growth,
         profitability, and viability of the bank.

<PAGE>

                                    EXHIBIT B

                            ANNUAL BONUS COMPENSATION

1. BONUS. Beginning not later than one year after the opening of the Bank and in
addition to Executive's Base Salary, the Executive shall be eligible to receive
performance bonuses contingent upon the following:

       (a) The overall condition of the Bank must be "satisfactory" in the
   opinion of the OCC as set forth in the most current OCC Report of Supervisory
   Activity provided to the Board of Directors of the Bank and the Uniform
   Financial Institution Rating of the Bank shall not be less than "2"; and

       (b) The Bank shall be "adequately capitalized" as defined under
   regulations promulgated by the OCC pursuant to the Federal Deposit Insurance
   Corporation Improvement Act of 1991.

2. BONUS SCHEDULE. Beginning one year after the opening of the Bank and assuming
the Bank has become and remains cumulatively profitable as of its most recent
fiscal year-end, in addition to the Executive's then existing Base Salary, the
Executive shall be eligible to receive the following annual performance bonuses:

       (a) The Executive is eligible for an amount equal to 15% of his or her
   Base Salary if Bank successfully reaches 100% of Bank's annual "plan" as
   determined by the Bank's Board of Directors. ADDITIONALLY, the Executive is
   eligible for an amount equal to 10% of his or her Base Salary if the Bank
   successfully exceeds 110% of the Bank's "plan" as determined by the Bank's
   Board of Directors.

       (b) The Executive is eligible for additional compensation at the
   discretion of the Bank's Board of Directors.

       (c) Notwithstanding the foregoing, the performance bonuses contemplated
   by this Exhibit B shall not become due and payable until the Board of
   Directors of the Bank has determined, according to reasonable safety and
   soundness standards, that the overall financial condition of the Bank,
   including asset quality, will not be adversely affected by the payment of the
   performance bonuses.<PAGE>

                                                                   EXHIBIT 10.11

                                 PROMISSORY NOTE
<TABLE>
----------------------------------------------------------------------------------------------------------------------------------
<S>                <C>              <C>              <C>            <C>       <C>               <C>           <C>         <C>
   PRINCIPAL       LOAN DATE         MATURITY        LOAN NO        CALL      COLLATERAL        ACCOUNT       OFFICER     INITIALS
  $500,000.00      08-23-1999       08-23-2000                                                                 JKG
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Reference in the shaded area are for lender's use only and do not limit the
applicability of this document to any particular loan or item.
--------------------------------------------------------------------------------

<TABLE>

<S>                                              <C>
Borrower:  Futurus Financial Services, Inc.      Lender:  THE BANKERS BANK
           1570 Holcomb Bridge Road, Suite 120            2410 PACES FERRY ROAD
           Roswell, GA  30076                             600 PACES SUMMIT
                                                          ATLANTA, GA 30339
</TABLE>

================================================================================
<TABLE>
   <S>                               <C>                        <C>
   Principal Amount: $500,000.00     Initial Rate:  8.250%      Date of Note:  February 11, 2000
</TABLE>

   PROMISE TO PAY. FUTURUS FINANCIAL SERVICES, INC. ("BORROWER") PROMISES TO PAY
   TO THE BANKERS BANK ("LENDER"), OR ORDER, IN LAWFUL MONEY OF THE UNITED
   STATES OF AMERICA, THE PRINCIPAL AMOUNT OF FIVE HUNDRED THOUSAND & 00/100
   DOLLARS ($500,000.00) OR SO MUCH AS MAY BE OUTSTANDING, TOGETHER WITH
   INTEREST ON THE UNPAID OUTSTANDING PRINCIPAL BALANCE OF EACH ADVANCE.
   INTEREST SHALL BE CALCULATED FROM THE DATE OF EACH ADVANCE UNTIL REPAYMENT OF
   EACH ADVANCE.

   PAYMENT. BORROWER WILL PAY THIS LOAN IN ONE PAYMENT OF ALL OUTSTANDING
   PRINCIPAL PLUS ALL ACCRUED UNPAID INTEREST ON FEBRUARY 11, 20001. IN
   ADDITION, BORROWER WILL PAY REGULAR QUARTERLY PAYMENTS OF ACCRUED UNPAID
   INTEREST BEGINNING MAY 11, 2000, AND ALL SUBSEQUENT INTEREST PAYMENTS ARE DUE
   ON THE SAME DAY OF EACH QUARTER AFTER THAT. Borrower will pay Lender at
   Lender's address shown above or at such other place as Lender may designate
   in writing. Unless otherwise agreed or required by applicable law, payments
   will be applied first to accrued unpaid interest, then to principal, and any
   remaining amount to any unpaid collection costs and late charges.

   VARIABLE INTEREST RATE. The interest rate on this Note is subject to change
   from time to time based on changes in an index which is the Prime rate as
   published in the Money Rates section of the Wall Street Journal. (the
   "Index"). If two or more rates exist, then the highest rate will prevail.
   Lender will tell Borrower the current Index rate upon Borrower's request.
   Borrower understands that Lender may make loans based on other rates as well.
   The interest rate change will not occur more often than each day. THE INDEX
   CURRENTLY IS 8.750% PER ANNUM. THE INTEREST RATE TO BE APPLIED TO THE UNPAID
   PRINCIPAL BALANCE OF THIS NOTE WILL BE AT A RATE OF 0.500 PERCENTAGE POINTS
   UNDER THE INDEX, RESULTING IN AN INITIAL ANNUAL RATE OF SIMPLE INTEREST OF
   8.250%. NOTICE: Under no circumstances will the interest rate on this Note be
   more than the maximum rate allowed by applicable law.

   PREPAYMENT. Borrower may pay without penalty all or a portion of the amount
   owed earlier than it is due. Early payments will not, unless agreed to by
   Lender in writing, relieve Borrower of Borrower's obligation to continue to
   make payments of accrued unpaid interest. Rather, they will reduce the
   principal balance due.

   LATECHARGE. If a payment is 15 DAYS OR MORE LATE, Borrower will be charged
   $100.00.

   DEFAULT. Borrower will be in default if any of the following happens: (a)
   Borrower fails to make any payment when due. (b)Borrower breaks any promise
   Borrower has made to Lender, or Borrower falls to comply with or to perform
   when due any other term, obligation, covenant, or condition contained in this
   Note or any agreement related to this Note, or in any other agreement or loan
   Borrower has with Lender. (c) Any representation or statement made or
   furnished to Lender by Borrower or on Borrower's behalf is false or
   misleading in any material respect either now or at the time made or
   furnished. (d) Borrower becomes insolvent, a receiver is appointed for any
   part of Borrower's property, Borrower makes an assignment for the benefit of
   creditors, or any proceeding is commenced either by Borrower or against
   Borrower under any bankruptcy or insolvency laws. (a) Any creditor tries to
   take any of Borrower's property on or in which Lender has a lien or security
   interest. This includes a garnishment of any of Borrower's accounts with
   Lender. (f) Any guarantor dies or any of the other events described in this
   default section occurs with respect to any guarantor of this Note. (g) A
   material adverse change occurs in Borrower's financial condition, or Lender
   believes the prospect of payment or performance of the Indebtedness is
   impaired. (h) Lender in good faith deems itself insecure.

   LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
   balance on this Note and all accrued unpaid interest immediately due, without
   notice, and then Borrower will pay that amount. Upon default, including
   failure to pay upon final maturity, Lender, at its option, may also, if
   permitted under applicable law, increase the variable interest rate on this
   Note 3.000 percentage points. The interest rate will not exceed the maximum
   rate permitted by applicable law. Lender may hire or pay someone else to help
   collect this Note if Borrower does not pay. Borrower also will pay Lender
   that amount. This includes, subject to any limits under applicable law,
   Lender's, costs of collection, including court costs and fifteen percent
   (15%) of the principal plus accrued interest as attorneys' fees, if any sums
   owing under this Note are collected by or through an attorney-at-law, whether
   or not there is a lawsuit, and legal expenses for bankruptcy proceedings
   (including efforts to modify or vacate any automatic stay or injunction),
   appeals, and any anticipated post-judgment collection services. If not
   prohibited by applicable law, Borrower also will pay any court costs, in
   addition to all other sums provided by law. THIS NOTE HAS BEEN DELIVERED TO
   LENDER AND ACCEPTED BY LENDER in THE STATE OF GEORGIA. SUBJECT TO THE
   PROVISIONS ON ARBITRATION, THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
   ACCORDANCE WITH THE LAWS OF THE STATE OF GEORGIA.

   DISHONORED ITEM FEE. Borrower will pay a fee to Lender of twenty dollars
   ($20.00) or five percent (5%) of the face amount of the check, whichever is
   greater, if Borrower makes a payment on Borrower's loan and the check or
   preauthorized charge with which Borrower pays is later dishonored.

   RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory security
   interest in, and hereby assigns, conveys, delivers, pledges, and transfers to
   Lender all Borrower's right, title and interest in and to, Borrower's
   accounts with Lender (whether checking, savings, or some other account),
   including without limitation all accounts held jointly with someone else and
   all accounts Borrower may open in the future, excluding however all IRA and
   Keogh accounts, and all trust accounts for which the grant of a security
   interest would be prohibited by law. Borrower authorizes Lender, to the
   extent permitted by applicable law, to charge or setoff all sums owing on
   this Note against any and all such accounts.

<PAGE>

08-23-1999                    PROMISSORY NOTE                             PAGE 2
LOAN NO                         (CONTINUED)

================================================================================

   LINE OF CREDIT. This Note evidences a revolving line of credit. Advances
   under this Note, as well as directions for payment from Borrower's accounts,
   may be requested orally or in writing by Borrower or by an authorized person.
   Lender may, but need not, require that all oral requests be confirmed in
   writing. The following party or parties are authorized to request advances
   under the line of credit until Lender receives from Borrower at Lender's
   address shown above written notice of revocation of their authority: GREG
   JANICKI, ORGANIZER. Borrower agrees to be liable for all sums either: (a)
   advanced in accordance with the instructions of an authorized person or (b)
   credited to any of Borrower's accounts with Lender. The unpaid principal
   balance owing on this Note at any time may be evidenced by endorsements on
   this Note or by Lender's internal records, including daily computer
   print-outs. Lender will have no obligation to advance funds under this Note
   if: (a) Borrower or any guarantor is in default under the terms of this Note
   or any agreement that Borrower or any guarantor has with Lender, including
   any agreement made in connection with the signing of this Note; (b) Borrower
   or any guarantor ceases doing business or is insolvent; (c) any guarantor
   seeks, claims or otherwise attempts to limit, modify or revoke such
   guarantor's guarantee of this Note or any other loan with Lender; (d)
   Borrower has applied funds provided pursuant to this Note for purposes other
   than those authorized by Lender; or (e) Lender in good faith deems itself
   insecure under this Note or any other agreement between Lender and Borrower.

   ARBITRATION. LENDER AND BORROWER AGREE THAT ALL DISPUTES, CLAIMS AND
   CONTROVERSIES BETWEEN THEM, WHETHER INDIVIDUAL, JOINT, OR CLASS IN NATURE,
   ARISING FROM THIS NOTE OR OTHERWISE, INCLUDING WITHOUT LIMITATION CONTRACT
   AND TORT DISPUTES, SHALL BE ARBITRATED PURSUANT TO THE RULES OF THE AMERICAN
   ARBITRATION ASSOCIATION, UPON REQUEST OF EITHER PARTY. No act to take or
   dispose of any collateral securing this Note shall constitute a waiver of
   this arbitration agreement or be prohibited by this arbitration agreement.
   This includes, without limitation, obtaining injunctive relief or a temporary
   restraining order; invoking a power of sale under any deed of trust or
   mortgage; obtaining a writ of attachment or imposition of a receiver; or
   exercising any rights relating to personal property, including taking or
   disposing of such property with or without judicial process pursuant to
   Article 9 of the Uniform Commercial Code. Any disputes, claims, or
   controversies concerning the lawfulness or reasonableness of any act, or
   exercise of any right, concerning any collateral securing this Note,
   including any claim to rescind, reform, or otherwise modify any agreement
   relating to the collateral securing this Note, shall also be arbitrated,
   provided however that no arbitrator shall have the right or the power to
   enjoin or restrain any act of any party. Judgment upon any award rendered by
   any arbitrator may be entered in any court having jurisdiction. Nothing in
   this Note shall preclude any party from seeking equitable relief from a court
   of competent jurisdiction. The statute of limitations, estoppel, waiver,
   laches, and similar doctrines which would otherwise be applicable in an
   action brought by a party shall be applicable in any arbitration proceeding,
   and the commencement of an arbitration proceeding shall be deemed the
   commencement of an action for these purposes. The Federal Arbitration Act
   shall apply to the construction, interpretation, and enforcement of this
   arbitration provision.

   ACCRUAL METHOD.  interest will be calculated on an Actual/360 basis.

   GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its rights or
   remedies under this Note without losing them. Borrower and any other person
   who signs, guarantees or endorses this Note, to the extent allowed by law,
   waive presentment, demand for payment, protest and notice of dishonor. Upon
   any change in the terms of this Note, and unless otherwise expressly stated
   in writing, no party who signs this Note, whether as maker, guarantor,
   accommodation maker or endorser, shall be released from liability. All such
   parties waive any right to require Lender to take action against any other
   party who signs this Note as provided in O.C.G.A. Section 10-7-24 and agree
   that Lender may renew or extend (repeatedly and for any length of time) this
   loan, or release any party or guarantor or collateral; or impair, fail to
   realize upon or perfect Lender's security interest in the collateral; and
   take any other action deemed necessary by Lender without the consent of or
   notice to anyone. All such parties also agree that Lender may modify this
   loan without the consent of or notice to anyone other than the party with
   whom the modification is made.

   IN WITNESS WHEREOF, THIS NOTE HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED,
   WHO ACKNOWLEDGES A COMPLETED COPY HEREOF.

   BORROWER:

   Futurus Financial Services, Inc.
<TABLE>
   <S>                                                        <C>
   By:   /s/ Greg Janicki                   (SEAL)            By:      /s/ William M. Butler             (SEAL)
      --------------------------------------                     ----------------------------------------
      Greg Janicki, Organizer                                    William M. Butler, President/CEO

   LENDER:

   THE BANKERS BANK

   By:   /s/  Norma Manaffey
     ------------------------------------
    Authorized Officer
</TABLE>

================================================================================
Variable Rate. Line of Credit. LASER PRO, Reg. U.S. Pat. & T.M. Off., Ver.
3.24a(c) 1999 CFI ProServices, Inc. All rights reserved. [GA-D20 E3.24
FUTURUS.LN C1.OVL]

<PAGE>

                               COMMERCIAL GUARANTY
<TABLE>
--------------------------------------------------------------------------------------------------------------------------
   <S>            <C>            <C>          <C>         <C>      <C>             <C>          <C>           <C>
   PRINCIPAL      LOAN DATE      MATURITY     LOAN NO     CALL     COLLATERAL      ACCOUNT      OFFICER       INITIALS
                                                                                                  JKG
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
References in the shaded area are for Lender's use only and do not limit the
applicability of this document to any particular loan or item.
--------------------------------------------------------------------------------

<TABLE>
<S>                                                 <C>
Borrower:  Futurus Financial Services, Inc.         Lender:  THE BANKERS BANK
           1570 Holcomb Bridge Road, Suite 120               2410 PACES FERRY ROAD
           Roswell, GA  30076                                600 PACES SUMMIT
                                                             ATLANTA, GA 30339
</TABLE>

Guarantor:

================================================================================

   AMOUNT OF GUARANTY. The principal amount of this Guaranty is Ninety Three
   Thousand Seven Hundred Fifty & 00/100 Dollars ($93,750.00).

   GUARANTY. In consideration of the sum of Five Dollars ($5.00) and other good
   and valuable consideration, the receipt and adequacy of which are hereby
   acknowledged by Guarantor and to induce Lender to make loans or otherwise
   extend credit to Borrower, or to renew or extend in whole or in part any
   existing indebtedness of Borrower to Lender, or to make other financial
   accommodations to Borrower, ____________________("Guarantor") absolutely and
   unconditionally guarantees and promises to pay to THE BANKERS BANK ("Lender")
   or its order, in legal tender of the United States of America, the
   indebtedness (as that term is defined below) of Futurus Financial Services,
   Inc. ("Borrower") to Lender on the terms and conditions set forth in this
   Guaranty.

   DEFINITIONS. The following words shall have the following meanings when used
   in this Guaranty:

         BORROWER.  The word "Borrower" means Futurus Financial Services, Inc.

         GUARANTOR. The word "Guarantor" means __________________________.

         GUARANTY. The word "Guaranty" means this Guaranty made by Guarantor for
         the benefit of Lender dated February 11, 2000.

         INDEBTEDNESS. The word "Indebtedness" means the Note, including (a) all
         principal, (b) all interest, (c) all late charges, (d) all loan fees
         and loan charges, and (e) all collection costs and expenses relating to
         the Note or to any collateral for the Note. Collection costs and
         expenses include without limitation of all of Lender's attorneys' fees
         and Lender's legal expenses, including court costs and fifteen percent
         (15%) of the principal plus accrued interest as attorneys' fees, if any
         sums owing under this Guaranty are collected by or through an
         attorney-at-law, whether or not suit is instituted, and attorneys' fees
         and legal expenses for bankruptcy proceedings (including efforts to
         modify or vacate any automatic stay or injunction), appeals, and any
         anticipated post-judgment collection services.

         LENDER. The word "Lender" means THE BANKERS BANK, its successors and
         assigns.

         NOTE. The word "Note" means the promissory note or credit agreement
         dated February 11, 2000, IN THE ORIGINAL PRINCIPAL AMOUNT OF
         $700,000.00 from Borrower to Lender, together with all renewals of,
         extensions of, modifications of, refinancings of, consolidations of,
         and substitutions for the promissory note or agreement. Notice to
         Guarantor: THE NOTE EVIDENCES A REVOLVING LINE OF CREDIT FROM LENDER TO
         BORROWER.

         RELATED DOCUMENTS. The word "Related Documents" mean and include
         without limitation all promissory notes, credit agreements, loan
         agreements, environmental agreements, guarantees, security agreements,
         security deeds, mortgages, deeds of trust, and all other instruments,
         agreements and documents, whether now or hereafter existing, executed
         in connection with the Indebtedness.

   MAXIMUM LIABILITY. THE MAXIMUM LIABILITY OF GUARANTOR UNDER THIS GUARANTY
   SHALL NOT EXCEED AT ANY ONE TIME THE SUM OF THE PRINCIPAL AMOUNT OF
   $131,250.00, PLUS ALL INTEREST THEREON, PLUS ALL OF LENDER'S COSTS, EXPENSES,
   AND ATTORNEYS' FEES INCURRED IN CONNECTION WITH OR RELATING TO (a) THE
   COLLECTION OF THE INDEBTEDNESS, (b) THE COLLECTION AND SALE OF ANY COLLATERAL
   FOR THE INDEBTEDNESS OR THIS GUARANTY, OR (c) THE ENFORCEMENT OF THIS
   GUARANTY. ATTORNEYS' FEES INCLUDE, WITHOUT LIMITATION, ATTORNEYS' FEES
   WHETHER OR NOT THERE IS A LAWSUIT, AND IF THERE IS A LAWSUIT, ANY FEES AND
   COSTS FOR TRIAL AND APPEALS.

   The above limitation on liability is not a restriction on the amount of the
   Indebtedness of Borrower to Lender, either in the aggregate or at any one
   time. If Lender presently holds one or more guaranties, or hereafter receives
   additional guaranties from Guarantor, the rights of Lender under all
   guaranties shall be cumulative. This Guaranty shall not (unless specifically
   provided below to the contrary) affect or invalidate any such other
   guaranties. The liability of Guarantor will be the aggregate liability of
   Guarantor under the terms of this Guaranty and any such other unterminated
   guaranties.

   NATURE OF GUARANTY. Guarantor intends to guarantee at all times the
   performance and prompt payment when due, whether at maturity or earlier by
   reason of acceleration or otherwise, of all Indebtedness within the limits
   set forth in the preceding section of this Guaranty. THIS GUARANTY COVERS A
   REVOLVING LINE OF CREDIT AND GUARANTOR UNDERSTANDS AND AGREES THAT THIS
   GUARANTEE SHALL BE OPEN AND CONTINUOUS UNTIL THE LINE OF CREDIT IS TERMINATED
   AND THE INDEBTEDNESS IS PAID IN FULL, AS PROVIDED BELOW.

   DURATION OF GUARANTY. This Guaranty will take effect when received by Lender
   without the necessity of any acceptance by Lender, or any notice to Guarantor
   or to Borrower, and will continue in full force until all Indebtedness shall
   have been fully and finally paid and satisfied and all other obligations of
   Guarantor under this Guaranty shall have been performed in full. Release of
   any other guarantor or termination of any other guaranty of the Indebtedness
   shall not affect the liability of Guarantor under this Guaranty. A revocation
   received by Lender from any one or more Guarantors shall not affect the
   liability of any remaining Guarantors under this Guaranty. THIS GUARANTY
   COVERS A REVOLVING LINE OF CREDIT AND IT IS SPECIFICALLY ANTICIPATED THAT
   FLUCTUATIONS WILL OCCUR IN THE AGGREGATE AMOUNT OF INDEBTEDNESS OWING FROM
   BORROWER TO LENDER. GUARANTOR SPECIFICALLY ACKNOWLEDGES AND AGREES THAT
   FLUCTUATIONS IN THE AMOUNT OF INDEBTEDNESS, EVEN TO ZERO DOLLARS ($0.00),
   SHALL NOT CONSTITUTE A TERMINATION OF THIS GUARANTY. GUARANTOR'S LIABILITY
   UNDER THIS GUARANTY SHALL TERMINATE ONLY UPON (a) TERMINATION IN WRITING BY
   BORROWER AND LENDER OF THE LINE OF CREDIT, (b) PAYMENT OF THE INDEBTEDNESS IN
   FULL IN LEGAL TENDER, AND (c) PAYMENT IN FULL IN LEGAL TENDER OF ALL OTHER
   OBLIGATIONS OF GUARANTOR UNDER THIS GUARANTY.

<PAGE>

08-23-1999                     COMMERCIAL GUARANTY                       PAGE 2
LOAN NO                            (CONTINUED)

================================================================================

   GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, without
   notice or demand and without lessening Guarantor's liability under this
   Guaranty, from time to time: (a) to make one or more additional secured or
   unsecured loans to Borrower, to lease equipment or other goods to Borrower,
   or otherwise to extend additional credit to Borrower; (b) to alter,
   compromise, renew, extend, accelerate, or otherwise change one or more times
   the time for payment or other terms of the Indebtedness or any part of the
   Indebtedness, including increases and decreases of the rate of interest on
   the Indebtedness; extensions may be repeated and may be for longer than the
   original loan term; (c) to take and hold security for the payment of this
   Guaranty or the Indebtedness, and exchange, enforce, waive, subordinate, fail
   or decide not to perfect, and release any such security, with or without the
   substitution of new collateral; (d) to release, substitute, agree not to sue,
   or deal with any one or more of Borrower's sureties, endorsers, or other
   guarantors on any terms or in any manner Lender may choose; (e) to determine
   how, when and what application of payments and credits shall be made on the
   Indebtedness; (f) to apply such security and direct the order or manner of
   sale thereof, including without limitation, any nonjudicial sale permitted by
   the terms of the controlling security agreement or deed of trust, as Lender
   in its discretion may determine; (g) to sell, transfer, assign, or grant
   participations in all or any part of the Indebtedness; and (h) to assign or
   transfer this Guaranty in whole or in part.

   GUARANTOR'S REPRESENTATIONS AND WARRANTIES. Guarantor represents and warrants
   to Lender that (a) no representations or agreements of any kind have been
   made to Guarantor which would limit or qualify in any way the terms of this
   Guaranty; (b) this Guaranty is executed at Borrower's request and not at the
   request of Lender; (c) Guarantor has full power, right and authority to enter
   into this Guaranty; (d) the provisions of this Guaranty do not conflict with
   or result in a default under any agreement or other instrument binding upon
   Guarantor and do not result in violation of any law, regulation, court decree
   or order applicable to Guarantor; (e) Guarantor has not and will not, without
   the prior written consent of Lender, sell, lease, assign, encumber,
   hypothecate, transfer, or otherwise dispose of all or substantially all of
   Guarantor's assets, or any interest therein; (f) upon Lender's request,
   Guarantor will provide to Lender financial and credit information in form
   acceptable to Lender, and all such financial information which currently has
   been, and all future financial information which will be provided to Lender
   is and will be true and correct in all material respects and fairly present
   the financial condition of Guarantor as of the dates the financial
   information is provided; (g) no material adverse change has occurred in
   Guarantor's financial condition since the date of the most recent financial
   statements provided to Lender and no event has occurred which may materially
   adversely affect Guarantor's financial condition; (h) no litigation, claim,
   investigation, administrative proceeding or similar action (including those
   for unpaid taxes) against Guarantor is pending or threatened; (i) Lender has
   made no representation to Guarantor as to the creditworthiness of Borrower;
   and (j) Guarantor has established adequate means of obtaining from Borrower
   on a continuing basis information regarding Borrower's financial condition.
   Guarantor agrees to keep adequately informed from such means of any facts,
   events, or circumstances which might in any way affect Guarantor's risks
   under this Guaranty, and Guarantor further agrees that, absent a request for
   information, Lender shall have no obligation to disclose to Guarantor any
   information or documents acquired by Lender in the course of its relationship
   with Borrower.

   GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives
   any right to require Lender (a) to continue lending money or to extend other
   credit to Borrower; (b) to make any presentment, protest, demand, or notice
   of any kind, including notice of any nonpayment of the Indebtedness or of any
   nonpayment related to any collateral, or notice of any action or nonaction on
   the part of Borrower, Lender, any surety, endorser, or other guarantor in
   connection with the Indebtedness or in connection with the creation of new or
   additional loans or obligations; (c) to resort for payment or to proceed
   directly or at once against any person, including Borrower or any other
   guarantor; (d) to proceed directly against or exhaust any collateral held by
   Lender from Borrower, any other guarantor, or any other person; (e) to give
   notice of the terms, time, and place of any public or private sale of
   personal property security held by Lender from Borrower or to comply with any
   other applicable provisions of the Uniform Commercial Code; (f) to pursue any
   other remedy within Lender's power; or (g) to commit any act or omission, of
   any kind, or at any time, with respect to any matter whatsoever.

   If now or hereafter (a) Borrower shall be or become insolvent, and (b) the
   Indebtedness shall not at all times until paid be fully secured by collateral
   pledged by Borrower, Guarantor hereby forever waives and relinquishes in
   favor of Lender and Borrower, and their respective successors, any claim or
   right to payment Guarantor may now have or hereafter have or acquire against
   Borrower, by subrogation or otherwise, so that at no time shall Guarantor be
   or become a "creditor" of Borrower within the meaning of 11 U.S.C. Section
   547(b), or any successor provision of the Federal bankruptcy laws.

   Guarantor also waives any and all rights or defenses arising by reason of (a)
   the provisions of O.C.G.A. Section 10-7-24 concerning Guarantor's right to
   require Lender to take action against Borrower or any "one action" or
   "anti-deficiency" law or any other law which may prevent Lender from bringing
   any action, including a claim for deficiency, against Guarantor, before or
   after Lender's commencement or completion of any foreclosure action, either
   judicially or by exercise of a power of sale; (b) any election of remedies by
   Lender which destroys or otherwise adversely affects Guarantor's subrogation
   rights or Guarantor's rights to proceed against Borrower for reimbursement,
   including without limitation, any loss of rights Guarantor may suffer by
   reason of any law limiting, qualifying, or discharging the Indebtedness; (c)
   any disability or other defense of Borrower, of any other guarantor, or of
   any other person, or by reason of the cessation of Borrower's liability from
   any cause whatsoever, other than payment in full in legal tender, of the
   Indebtedness; (d) any right to claim discharge of the Indebtedness on the
   basis of unjustified impairment of any collateral for the Indebtedness; (e)
   any statue of limitation, if at any time any action or suit brought by Lender
   against Guarantor is commenced there is outstanding Indebtedness of Borrower
   to Lender which is not barred by any applicable statute of limitations; or
   (f) any defenses given to guarantors at law or in equity other than actual
   payment and performance of the Indebtedness. If payment is made by Borrower,
   whether voluntarily or otherwise, or by any third party, on the Indebtedness
   and thereafter Lender is forced to remit the amount of that payment to
   Borrower's trustee in bankruptcy or to any similar person under any federal
   or state bankruptcy law or law for the relief of debtors, the Indebtedness
   shall be considered unpaid for the purpose of enforcement of this Guaranty.

   Guarantor further waives and agrees not to assert or claim at any time any
   deductions to the amount guaranteed under this Guaranty for any claim of
   setoff, counterclaim, counter demand, recoupment or similar right, whether
   such claim, demand or right may be asserted by the Borrower, the Guarantor,
   or both.

   GUARANTOR'S UNDERSTANDING WITH RESPECT TO WAIVERS. Guarantor warrants and
   agrees that each of the waivers set forth above is made with Guarantor's full
   knowledge of its significance and consequences and that, under the
   circumstances, the waivers are reasonable and not contrary to public policy
   or law. If any such waiver is determined to be contrary to any applicable law
   or public policy, such waiver shall be effective only to the extent permitted
   by law or public policy.

<PAGE>

08-23-1999                    COMMERCIAL GUARANTY                        PAGE 3
LOAN NO                           (CONTINUED)

================================================================================

   LENDER'S RIGHT OF SETOFF. In addition to all liens upon and rights of setoff
   against the moneys, securities or other property of Guarantor given to Lender
   by law, Lender shall have, with respect to Guarantor's obligations to Lender
   under this Guaranty and to the extent permitted by law, a contractual
   possessory security interest in and a right of setoff against, and Guarantor
   hereby assigns, conveys, delivers, pledges, and transfers to Lender all of
   Guarantor's right, title and interest in and to, all deposits, moneys,
   securities and other property of Guarantor now or hereafter in the possession
   of or on deposit with Lender, whether held in a general or special account or
   deposit, whether held jointly with someone else, or whether held for
   safekeeping or otherwise, excluding however all IRA, Keogh, and trust
   accounts. Every such security interest and right of setoff may be exercised
   without demand upon or notice to Guarantor. No security interest or right of
   setoff shall be deemed to have been waived by any act or conduct on the part
   of Lender or by any neglect to exercise such right of setoff or to enforce
   such security interest or by any delay in so doing. Every right of setoff and
   security interest shall continue in full force and effect until such right of
   setoff or security interest is specifically waived or released by an
   instrument in writing executed by Lender.

   SUBORDINATION OF BORROWER'S DEBTS TO GUARANTOR. Guarantor agrees that the
   Indebtedness of Borrower to Lender, whether now existing or hereafter
   created, shall be prior to any claim that Guarantor may now have or hereafter
   acquire against Borrower, whether or not Borrower becomes insolvent.
   Guarantor hereby expressly subordinates any claim Guarantor may have against
   Borrower, upon any account whatsoever, to any claim that Lender may now or
   hereafter have against Borrower. In the event of insolvency and consequent
   liquidation of the assets of Borrower, through bankruptcy, by an assignment
   for the benefit of creditors, by voluntary liquidation, or otherwise, the
   assets of Borrower applicable to the payment of the claims of both Lender and
   Guarantor shall be paid to Lender and shall be first applied by Lender to the
   Indebtedness of Borrower to Lender. Guarantor does hereby assign to Lender
   all claims which it may have or acquire against Borrower or against any
   assignee or trustee in bankruptcy of Borrower; provided however, that such
   assignment shall be effective only for the purpose of assuring to Lender full
   payment in legal tender of the Indebtedness. If Lender so requests, any notes
   or credit agreements now or hereafter evidencing any debts or obligations of
   Borrower to Guarantor shall be marked with a legend that the same are subject
   to this Guaranty and shall be delivered to Lender. Guarantor agrees, and
   Lender hereby is authorized, in the name of Guarantor, from time to time to
   execute and file financing statements and continuation statements and to
   execute such other documents and to take such other actions as Lender deems
   necessary or appropriate to perfect, preserve and enforce its rights under
   this Guaranty.

   MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part
   of this Guaranty:

         AMENDMENTS. This Guaranty, together with any Related Documents,
         constitutes the entire understanding and agreement of the parties as to
         the matters set forth in this Guaranty. No alteration of or amendment
         to this Guaranty shall be effective unless given in writing and signed
         by the party or parties sought to be charged or bound by the alteration
         or amendment.

         APPLICABLE LAW. This Guaranty has been delivered to Lender and accepted
         by Lender in the State of Georgia. Subject to the provisions on
         arbitration, this Guaranty shall be governed by and construed in
         accordance with the laws of the State of Georgia.

         ARBITRATION. LENDER AND GUARANTOR AGREE THAT ALL DISPUTES, CLAIMS AND
         CONTROVERSIES BETWEEN THEM, WHETHER INDIVIDUAL, JOINT, OR CLASS IN
         NATURE, ARISING FROM THIS GUARANTY OR OTHERWISE, INCLUDING WITHOUT
         LIMITATION CONTRACT AND TORT DISPUTES, SHALL BE ARBITRATED PURSUANT TO
         THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION, UPON REQUEST OF
         EITHER PARTY. No act to take or dispose of any Collateral shall
         constitute a waiver of this arbitration agreement or be prohibited by
         this arbitration agreement. This includes, without limitation,
         obtaining injunctive relief or a temporary restraining order; invoking
         a power of sale under any deed of trust or mortgage; obtaining a writ
         of attachment or imposition of a receiver; or exercising any rights
         relating to personal property, including taking or disposing of such
         property with or without judicial process pursuant to Article 9 of the
         Uniform Commercial Code. Any disputes, claims, or controversies
         concerning the lawfulness or reasonableness of any act, or exercise of
         any right, concerning any Collateral, including any claim to rescind,
         reform, or otherwise modify any agreement relating to the Collateral,
         shall also be arbitrated, provided however that no arbitrator shall
         have the right or the power to enjoin or restrain any act of any party.
         Judgment upon any award rendered by any arbitrator may be entered in
         any court having jurisdiction. Nothing in this Guaranty shall preclude
         any party from seeking equitable relief from a court of competent
         jurisdiction. The statute of limitations, estoppel, waiver, laches, and
         similar doctrines which would otherwise be applicable in an action
         brought by a party shall be applicable in any arbitration proceeding,
         and the commencement of an arbitration proceeding shall be deemed the
         commencement of an action for these purposes. The Federal Arbitration
         Act shall apply to the construction, interpretation, and enforcement of
         this arbitration provision.

         ATTORNEYS' FEES; EXPENSES: Guarantor agrees to pay upon demand all of
         Lender's costs and expenses, including attorneys' fees and Lender's
         legal expenses, incurred in connection with the enforcement of this
         Guaranty. Lender may pay someone else to help enforce this Guaranty,
         and Guarantor shall pay the costs and expenses of such enforcement.
         Costs and expenses include all costs and expenses of collection,
         including fifteen percent (15%) of the principal plus accrued interest
         as attorneys' fees, if any sums owing under this Guaranty are collected
         by or through an attorney-at-law, whether or not there is a lawsuit,
         including attorneys' fees and legal expenses for bankruptcy proceedings
         (and including efforts to modify or vacate any automatic stay or
         injunction), appeals, and any anticipated post-judgment collection
         services. Guarantor also shall pay all court costs and such additional
         fees as may be directed by the court.

         NOTICES. All notices required to be given by either party to the other
         under this Guaranty shall be in writing, may be sent by telefacsimile
         (unless otherwise required by law), and shall be effective when
         actually delivered or when deposited with a nationally recognized
         overnight courier, or when deposited in the United States mail, first
         class postage prepaid, addressed to the party to whom the notice is to
         be given at the address shown above or to such other addressee as
         either party may designate to the other in writing. If there is more
         than one Guarantor, notice to any Guarantor will constitute notice to
         all Guarantors. For notice purposes, Guarantor agrees to keep Lender
         informed at all times of Guarantor's current address.

         INTERPRETATION. In all cases where there is more than one Borrower or
         Guarantor, then all words used in this Guaranty in the singular shall
         be deemed to have been used in the plural where the context and
         construction so require; and where there is more than one Borrower
         named in this Guaranty or when this Guaranty is executed by more than
         one Guarantor, the words "Borrower" and "Guarantor" respectively shall
         mean all and any one or more of them. The words "Guarantor" "Borrower"
         and "Lender" include the heirs, successors, assigns, and transferees of
         each of them. Caption headings in this Guaranty are for convenience
         purposes only and are not to be used to interpret or define the
         provisions of this Guaranty. If a court of competent jurisdiction finds
         any provision of this Guaranty to be invalid or unenforceable as to any
         person or circumstance, such finding shall not render that provision
         invalid or unenforceable as to any other persons or circumstances, and
         all provisions of this Guaranty in all other respects shall remain
         valid and enforceable. If any one or more of Borrower or Guarantor are
         corporations or partnerships, it is not necessary for Lender to inquire
         into the powers of Borrower or Guarantor or of the officers, directors,
         partners, or agents acting or purporting to act on their behalf, and
         any Indebtedness made or created in reliance upon the professed
         exercise of such powers shall be guaranteed under this Guaranty.

<PAGE>

08-23-1999                     COMMERCIAL GUARANTY                       PAGE 4
LOAN NO                            (CONTINUED)

================================================================================

         WAIVER. Lender shall not be deemed to have waived any rights under this
         Guaranty unless such waiver is given in writing and signed by Lender.
         No delay or omission on the part of Lender in exercising any right
         shall operate as a waiver of such right or any other right. A waiver by
         Lender of a provision of this Guaranty shall not prejudice or
         constitute a waiver of Lender's right otherwise to demand strict
         compliance with that provision or any other provision of this Guaranty.
         No prior waiver by Lender, nor any course of dealing between Lender and
         Guarantor, shall constitute a waiver of any of Lender's rights or of
         any of Guarantor's obligations as to any future transactions. Whenever
         the consent of Lender is required under this Guaranty, the granting of
         such consent by Lender in any instance shall not constitute continuing
         consent to subsequent instances where such consent is required and in
         all cases such consent may be granted or withheld in the sole
         discretion of Lender.

EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS
GUARANTY AND AGREES TO ITS TERMS. IN ADDITION, EACH GUARANTOR UNDERSTANDS THAT
THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION AND DELIVERY OF THIS
GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE
MANNER SET FORTH IN THE SECTION TITLED "DURATION OF GUARANTY." NO FORMAL
ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY
IS DATED FEBRUARY 11, 2000.

IN WITNESS WHEREOF, THIS GUARANTY HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED,
WHO ACKNOWLEDGES A COMPLETED COPY HEREOF.

GUARANTOR:

X_______________________(SEAL)

Signed, Sealed and Delivered in the presence of:

X_______________________
   Unofficial Witness

______________________________________
Notary Public _______________ County

             (NOTARY SEAL)

My Commission expires: _______________________
LENDER:

THE BANKERS BANK

By: _______________________________
    Authorized Officer

================================================================================
LASER PRO, REG. U.S. Pat. & T.M. Off., Ver. 3-24a(c) 1999 CFI ProServices, Inc.
All rights reserved. (GA-E320 E3.24 F3-24 FUTURUS, LN C1.OVL)

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