Document:

Agreement

 Exhibit 10.7 
 AGREEMENT 
 THIS AGREEMENT (the “Agreement”) is made as of this 15th day of June,
2007, by and between CenterState Banks of Florida, Inc., a Florida corporation (“CenterState”) and Timothy A. Pierson (the “Executive”). 
 BACKGROUND 
 The purpose of this Agreement is to further reinforce the Executive’s association
with CenterState and its subsidiary banking corporations (individually, a “CenterState Company” and collectively, the “Centerstate Companies”). This Agreement also recognizes the competitive pressures in the marketplace for
quality employees and seeks to enhance the prospects of CenterState and the Executive by reinforcing the Executive’s retention as a valued employee of the CenterState organization. In consideration for the covenants and agreements of the
Executive set forth in this Agreement, CenterState is granting to the Executive stock options and an increase in Executive’s annual salary. 
 Accordingly, CenterState and the Executive, intending to be legally bound, hereby agree as follows: 
 Noncompetition and
Nonsolicitation. The Executive agrees that for a period of 12 months following the termination of the Executive’s employment with any CenterState Company for any reason whatsoever except (1) if terminated by a CenterState Company
without cause; (2) if terminated by the Executive with good reason; or (3) change of control, the Executive will not enter the employ of, or have any interest in, directly or indirectly (either as executive, director, officer, consultant,
agent or employee) of any other bank or financial institution or any entity which either accepts deposits or makes loans (whether presently existing or subsequently established) and which has an office located within a radius of 50 miles of any
office of any CenterState Company. In addition, during such 12 month period, the Executive agrees that the Executive will not (a) solicit for employment by the Executive or anyone else, or employ, any employee of any CenterState Company or any
person who was an employee of any CenterState Company within 12 months prior to such solicitation of employment; (b) induce, or attempt to induce, any employee of any CenterState Company to terminate such employee’s employment with any
CenterState Company; (c) induce, or attempt to induce, anyone having a business relationship with any CenterState Company to terminate or curtail such relationship or, on behalf of himself or anyone else, to compete with any CenterState
Company; or (d) permit anyone controlled by the Executive, or any person acting on behalf of the Executive or any controlled by an employee of the Executive, to do any of the foregoing. 
 The Executive’s employment shall be deemed to have been terminated for cause if as a result of the Executive’s (i) failure to comply with
the policies of any CenterState Company established from time to time; (ii) engaging in conduct involving fraud, deceit, personal dishonesty, breach of fiduciary or any other conduct which may adversely affect the business or reputation of any
CenterState Company; (iii) knowingly violating any banking law or regulation; (iv) becoming subject to continuing intemperance in the use of alcohol or drugs which has adversely affected, or may adversely affect, the business or reputation
of any CenterState Company, or being convicted of a crime involving moral turpitude; (v) intentional failure to perform stated duties; or (vi) filing, or having filed against the Executive, any petition under the Federal bankruptcy laws of
any state insolvency laws. 
 The Executive’s employment shall be deemed to have been terminated for good reason if (a) without the
express written consent of the Executive, there is any reduction of the Executive’s base salary with 

 
any CenterState Company, (b) without the express written consent of the Executive, any CenterState Company requires the Executive to be based in any
office or location other than at which the Executive is based (except for travel which is reasonably required in the performance of the Executive’s responsibilities and which is substantially similar as to frequency and duration to the travel
required of the Executive during the one-year period immediately prior to the execution of this Agreement), or (c) without the express written consent of the Executive, any CenterState Company significantly reduces the duties, responsibilities,
authority or title of the Executive. 
 Any termination by a CenterState Company for cause or by the Executive for good reason shall be
communicated by a notice of termination to the other party. The notice of termination shall (a) set forth in reasonable detail the facts and circumstances providing a basis for termination of the Executive’s employment under the provisions
so indicated, and (b) specifies the termination date of the Executive’s employment. 
 Miscellaneous. 
 (a) If litigation shall be brought to enforce or interpret any provision contained herein (including, but not limited to any court-ordered mediation, or
appellate proceeding), the prevailing party in such proceeding shall be entitled to recover from the other party its or his costs and expenses incurred (including reasonable attorneys’ fees). 
 (b) This Agreement may be modified only by an agreement in writing executed by both of the parties hereto. 
 (c) All notices and other communications hereunder shall be in writing hereunder and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to Company:	 	 CenterState Banks of Florida, Inc.

		 	 1101 First Street South, Suite 202

		 	 Winter Haven, Florida 33880

		 	 Attention: Ernest S. Pinner

		 	 Chairman, President and Chief Executive Officer

		
	If to the Executive:	 	 At the address set forth at the end of this Agreement

 or to such other address as either party shall have furnished to the other in writing in accordance herewith.
Notices and other communications shall be effective when actually received by the addressee. 
 (d) Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of Florida. Sole and exclusive venue for any action arising out of this Agreement shall be a state or federal court situated in Polk County, Florida, and by the execution of
this Agreement the parties hereby agree to the personal jurisdiction of such court. 
 (e) Counterparts. This Agreement may be
executed in several counterparts each of which shall be deemed an original, but all of which shall constitute one instrument. 

 (f) Effect on Employment Status. Nothing in this Agreement is intended to alter Employee’s
at-will status with the CenterState Companies. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	CENTERSTATE BANKS OF FLORIDA, INC.
		
	By:	 	 /s/ Ernest S. Pinner

		 	Ernest S. Pinner
	Its:	 	Chairman, President and Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ Timothy A. Pierson

	Timothy A. Pierson<PAGE>

                         INDIVIDUAL RETIREMENT ANNUITY

                          PAYMENT CHOICE ENDORSEMENT

This endorsement amends the Contract to which it is attached by adding a
Definition to the DEFINITIONS section and an additional Payment Choice in the
[Distribution Rules When Death Occurs Before Income Payments Begin] under the
Death Provisions section. Any reference herein to Contract also means Policy.

DEFINITIONS

Inherited Owner--For purposes of this endorsement an Inherited Owner is any
Designated Beneficiary receiving death proceeds from the Contract or any
beneficiary receiving death proceeds from any other individual retirement plan.
A surviving spouse may elect to be treated as an Inherited Owner in lieu of
exercising spousal continuation. The Inherited Owner will be named the
Annuitant at election of the payment choice.

DEATH PROVISIONS

Payment Choices, in the [Distribution Rules When Death Occurs Before Income
Payments Begin], under the DEATH PROVISIONS section of the Contract is amended
by adding the following language:

    (4)Apply the death proceeds to provide for an annual payment equal to the
       Minimum Annual Income, described below. Payments will continue annually
       on the distribution date selected by the Inherited Owner, subject to
       Special Rules stated below until the death of the Inherited Owner or the
       Contract Value is reduced to $0. Upon death of the Inherited Owner, the
       person or entity named by the Inherited Owner or, if no one is named,
       the Inherited Owner's estate may receive the remaining Contract Value.
       The recipient may take the Contract Value as a lump sum or continue to
       receive the annual payment on the distribution date equal to the Minimum
       Annual Income until the Contract Value is reduced to $0.

       The Minimum Annual Income is the amount withdrawn each year to satisfy
       section 408(b)(3) of the Code. The Minimum Annual Income will be based
       on the applicable distribution period for required minimum distributions
       after death, as provided in section 1.401(a)(9)-5 A-5 of the Income Tax
       Regulations.

   Special Rules for this payment choice only:

    .  This payment choice cannot be selected if the Minimum Annual Income
       would be less than $100.

    .  The Inherited Owner must elect a distribution date on which payments
       will be made. If the Inherited Owner is the surviving spouse of the
       original IRA owner within the meaning of section 401(a)(9)(B)(iv) of the
       Code, then the first distribution date elected must be the later of
       either: (i) December 15/th/ of the year in which the deceased would have
       been age 70  1/2 or (ii) December 15/th/ of the year following the
       original IRA owner's death. If the Inherited Owner is not the surviving
       spouse of the original IRA owner, then the first distribution date
       elected must be within 350 days from the date of death. If the surviving
       spouse dies before the first distribution date, the first distribution
       date under this rider will be determined by treating death of the
       surviving spouse as death of the original IRA owner and the surviving
       spouse's Designated Beneficiary as the Inherited Owner.

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<PAGE>

    .  Amounts paid to satisfy the Minimum Annual Income will not be subject to
       surrender charges. Surrender charges will apply to amounts withdrawn
       above the Minimum Annual Income.

    .  Optional living benefit and death benefit riders are not available with
       this Payment Choice.

    .  Additional premiums may not be added with this Payment Choice

Under this Payment Choice, the Contract will terminate upon payment of the
entire Contract Value.

For Genworth Life and Annuity Insurance Company,

                              /s/ Pamela S. Schutz
                              --------------------
                                Pamela S. Schutz
                                   President

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