Document:

Form of Aircraft Time Sharing Agreement

 Exhibit 10.61 
 AIRCRAFT TIME SHARING AGREEMENT 
 This Agreement is made and entered into as of
            by and between GSTP LLC, a Delaware limited liability company (“GSTP”) and wholly owned subsidiary of The Goldman Sachs Group, Inc, a Delaware corporation (together
with its subsidiaries and affiliates, including GSTP, “Goldman Sachs”), and                     (“Lessee”). 

WITNESSETH: 
 WHEREAS, GSTP
entered into a Trust Agreement, dated             , as supplemented, with
                    , not in its individual capacity but solely as Owner Trustee (the “Trustee”). GSTP entered into agreements with
            (the “Operative Agreements”) and thereafter assigned such Operative Agreements to the Trust, which enables GSTP to conduct operations under Federal Aviation
Regulations (“FAR”) Part 91 Subpart K in accordance with the Operative Agreements; and 
 WHEREAS, under the Operative Agreements,
GSTP is the operator of, and the Trustee is the registered owner of undivided interests in, aircraft bearing the Manufacturer’s Serial Number(s) and the United States Federal Aviation Administration (“FAA”) Registration Number(s)
listed on Schedule A hereto, as amended from time to time (collectively, the “Aircraft”); and 
 WHEREAS, from time to time, in
connection with use of the Aircraft for Goldman Sachs’ business purposes, Lessee may desire to use the Aircraft for personal usage incidental to business travel; and 
 WHEREAS, the parties intend for Lessee to reimburse Goldman Sachs for certain costs associated with such personal usage incidental to business travel on a non-exclusive time sharing basis in accordance
with FAR § 91.501; 
 NOW THEREFORE, in consideration of the mutual covenants herein set forth, the parties agree as follows: 

1. Provision of Aircraft and Crew. Subject to Aircraft availability, Goldman Sachs agrees to allow Lessee’s personal usage of the Aircraft
incidental to business travel on a time sharing basis in accordance with the provisions of FAR §§ 91.501(b)(6), (b)(10), (c)(1) and (d). Goldman Sachs shall provide, at its sole expense, fully qualified flight crew for all flight
operations under this Agreement. If Goldman Sachs is no longer the operator of any of the Aircraft, Schedule A shall be deemed amended to delete any reference to such Aircraft and this Agreement shall be terminated as to such Aircraft but shall
remain in full force and effect with respect to each of the other Aircraft, if any. No such termination shall affect any of the rights and obligations of the parties accrued or incurred prior to such termination. If Goldman Sachs becomes the
operator of any aircraft not listed on Schedule A hereto, Schedule A shall be deemed amended to include such Aircraft, and this Agreement shall remain in full force and effect with respect to such Aircraft and each of the other Aircraft, if any.

 2. Term. The term of this Agreement (the “Term”) shall commence on the date hereof and shall continue until terminated by
either party on written notice to the other party. This Agreement shall terminate immediately in the event that Lessee is no longer an employee or director of Goldman Sachs. Notwithstanding the foregoing, any provisions directly or indirectly
related to Lessee’s payment obligations for flights completed prior to the date of termination shall survive the termination of this Agreement. 

  
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 3. Reimbursement of Expenses. For each flight conducted under this Agreement involving personal usage
incidental to business travel, Lessee shall pay Goldman Sachs an amount determined by Goldman Sachs for the expenses attributable to such personal usage incidental to business travel in an amount not to exceed that permitted by FAR §91.501(d).
The invoice to Lessee shall not exceed the aggregate cost of: 
  

	 	(a)	Fuel, oil, lubricants, and other additives; 

  

	 	(b)	Travel expenses of the crew, including food, lodging, and ground transportation; 

 

	 	(c)	Hangar and tie-down costs away from the Aircraft’s base of operation; 

 

	 	(d)	Insurance obtained for the specific flight; 

  

	 	(e)	Landing fees, airport taxes, and similar assessments; 

  

	 	(f)	Customs, foreign permit, and similar fees directly related to the flight; 

  

	 	(g)	In-flight food and beverages; 

  

	 	(h)	Passenger ground transportation; 

  

	 	(i)	Flight planning and weather contract services; and 

  

	 	(j)	An additional charge equal to one hundred percent (100%) of the expenses listed in subsection (a) above. 

4. Invoicing and Payment. All payments to be made to Goldman Sachs by Lessee hereunder shall be paid in the manner set forth in this
Section 4. Goldman Sachs will pay, or cause to be paid, all expenses related to the operation of the Aircraft hereunder in the ordinary course. As soon as practicable after the relevant flight, Goldman Sachs shall provide or cause to be
provided to Lessee an invoice detailing all amounts payable by Lessee pursuant to Section 3 of this Agreement. Lessee shall pay all amounts due under the invoice not later than 60 days after receipt thereof unless otherwise specified in such
invoice. 
 5. Flight Requests. Lessee will provide the designated representatives of Goldman Sachs with flight requests for
Lessee’s personal usage incidental to business travel pursuant to this Agreement as far in advance of the relevant flight as possible and in accordance with all policies established by Goldman Sachs. Flight requests shall be in a form, whether
oral or written, mutually convenient to the parties. Goldman Sachs shall have sole and exclusive authority over the scheduling of the Aircraft. Goldman Sachs shall not be liable to Lessee or any other person for loss, injury, or damage occasioned by
the delay or failure to furnish the Aircraft and crew pursuant to this Agreement for any reason. 

  
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 Any flights or personal usage incidental to business travel scheduled under this Agreement are subject to
cancellation by either party without incurring liability to the other party. In the event of a cancellation, the canceling party shall provide the maximum notice reasonably practicable. 
 6. Operational Authority and Control. Goldman Sachs shall be responsible for the physical and technical operation of the Aircraft and the safe performance of all flights under this Agreement, and
shall retain full authority and control, including exclusive operational control and exclusive possession, command and control of the Aircraft for all flights under this Agreement. Goldman Sachs shall furnish at its expense a fully qualified flight
crew with appropriate credentials to conduct each flight undertaken under this Agreement. In accordance with applicable FARs, the qualified flight crew provided by Goldman Sachs will exercise all required and/or appropriate duties and
responsibilities in regard to the safety of each flight conducted hereunder. The pilot-in-command shall have absolute discretion in all matters concerning the preparation of the Aircraft for flight and the flight itself, the load carried and its
distribution, the decision whether or not a flight shall be undertaken or personal usage incidental to business travel shall be permitted, the route to be flown, the place where landings shall be made, and all other matters relating to operation of
the Aircraft. Lessee specifically agrees that the flight crew shall have final and complete authority to delay or cancel any flight or any personal usage incidental to business travel for any reason or condition that in the sole judgment of the
pilot-in-command could compromise the safety of the flight, and to take any other action that in the sole judgment of the pilot-in-command is necessitated by considerations of safety. No such action of the pilot-in-command shall create or support
any liability to Lessee or any other person for loss, injury, damage or delay. Goldman Sachs’s operation of the Aircraft hereunder shall be strictly within the guidelines and policies established by Goldman Sachs and FAR Part 91. 

7. Aircraft Maintenance. Goldman Sachs shall, at its own expense, cause the Aircraft to be inspected, maintained, serviced, repaired, overhauled,
and tested in accordance with FAR Part 91 so that the Aircraft will remain in good operating condition and in a condition consistent with its airworthiness certification and shall take such requirements into account in scheduling the Aircraft
hereunder. Performance of maintenance, preventive maintenance or inspection shall not be delayed or postponed for the purpose of scheduling the Aircraft unless such maintenance or inspection can safely be conducted at a later time in compliance with
applicable laws, regulations and requirements, and such delay or postponement is consistent with the sound discretion of the pilot-in-command. In the event that any non-standard maintenance is required during the term and will interfere with
Lessee’s requested or scheduled personal usage incidental to business travel, Goldman Sachs, or Goldman Sachs’s pilot-in-command, shall notify Lessee of the maintenance required, the effect on the ability to comply with Lessee’s
requested or scheduled personal usage incidental to business travel and the manner in which the parties will proceed with the performance of such maintenance and conduct of such flight(s). In no event shall Goldman Sachs be liable to Lessee or any
other person for loss, injury or damage occasioned by the delay or failure to furnish the Aircraft under this Agreement, whether or not maintenance-related. 
 8. Insurance. Goldman Sachs, at its expense, will maintain or cause to be maintained in full force and effect throughout the Term of this Agreement (i) comprehensive aircraft and liability
insurance against bodily injury and property damage claims, including, without limitation, contractual liability, in respect of the Aircraft in such amount as is customarily maintained by prudent operators of similar aircraft; and (ii) hull
insurance for the full replacement cost of the Aircraft. 

  
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 Goldman Sachs shall use reasonable commercial efforts to provide such additional insurance for specific
flights under this Agreement as Lessee may request in writing. Lessee acknowledges that any trips scheduled to the European Union may require Goldman Sachs to purchase additional insurance to comply with applicable regulations. 

9. Use of Aircraft. Lessee warrants that: 
 (i) Lessee will use the Aircraft under this Agreement for and only for his or her own account, including the carriage of guests, and will not use the Aircraft for the purpose of providing transportation
of passengers or cargo for compensation or hire or for common carriage; 
 (ii) Lessee will not permit any lien, security
interest or other charge or encumbrance to attach against the Aircraft as a result of his or her actions or inactions, and shall not attempt to convey, mortgage, assign, lease or in any way alienate the Aircraft or Goldman Sachs’s rights
hereunder or create any kind of lien or security interest involving the Aircraft or do anything or take any action that might mature into such a lien; and 
 (iii) During the Term of this Agreement, Lessee will abide by and conform to all such laws, governmental and airport orders, rules, and regulations as shall from time to time be in effect relating in any
way to the operation or use of the Aircraft by a lessee under a time sharing arrangement and all applicable policies of Goldman Sachs. 
 10.
Limitation of Liability. NEITHER GOLDMAN SACHS (NOR ITS AFFILIATES) MAKES, HAS MADE OR SHALL BE DEEMED TO MAKE OR HAVE MADE ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, WRITTEN OR ORAL, WITH RESPECT TO ANY AIRCRAFT TO BE USED
HEREUNDER OR ANY ENGINE OR COMPONENT THEREOF INCLUDING, WITHOUT LIMITATION, ANY WARRANTY AS TO DESIGN, COMPLIANCE WITH SPECIFICATIONS, QUALITY OF MATERIALS OR WORKMANSHIP, MERCHANTABILITY, FITNESS FOR ANY PURPOSE, USE OR OPERATION, AIRWORTHINESS,
SAFETY, PATENT, TRADEMARK OR COPYRIGHT INFRINGEMENT OR TITLE. 
 IN NO EVENT SHALL GOLDMAN SACHS OR ITS AFFILIATES BE LIABLE FOR OR HAVE ANY
DUTY OF INDEMNIFICATION, CONTRIBUTION OR REIMBURSEMENT TO LESSEE, LESSEE’S EMPLOYEES, AGENTS OR GUESTS FOR ANY LOSS, CLAIM, DAMAGE OR EXPENSE OF ANY KIND UNLESS SUCH LOSS, CLAIM, DAMAGE OR EXPENSE IS DETERMINED BY A COURT OF COMPETENT
JURISDICTION IN A NON-APPEALABLE JUDGMENT TO BE SOLELY DUE TO GOLDMAN SACHS’ BAD FAITH OR WILLFUL MISCONDUCT. The provisions of this Section 10 shall survive the termination or expiration of this Agreement. 

11. Notices and Communications. All notices and other communications under this Agreement shall be in writing (except as permitted in
Section 5) and shall be given (and shall be deemed to have been duly given upon receipt or refusal to accept receipt) by personal delivery, by facsimile (with a simultaneous confirmation copy sent by first class mail properly addressed and
postage prepaid), by email, or by a reputable overnight courier service, addressed as follows: 

  
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	 If to Goldman

Sachs:
	  	 The Goldman Sachs Group, Inc.

200 West Street
 New York, New York
10282
 Fax:

Email:

		
	 If to Lessee:
	  	  

		  	 c/o The Goldman Sachs Group, Inc.
 200 West Street
 New York, New York 10282
 Fax:
 Email:

 or to such other person or address as either party may from time to time designate in writing to the other party. Notices
shall be effective upon receipt. 
 12. Entire Agreement. This Agreement constitutes the entire understanding between the parties with
respect to its subject matter, and there are no representations, warranties, rights, obligations, liabilities, conditions, covenants, or agreements relating to such subject matter that are not expressly set forth herein. There are no third-party
beneficiaries of this Agreement. 
 13. Further Acts. Goldman Sachs and Lessee shall from time to time perform such other and further
acts and execute such other and further instruments as may be required by law or may be reasonably necessary (i) to carry out the intent and purpose of this Agreement, and (ii) to establish, maintain and protect the respective rights and
remedies of the other party. 
 14. Successors and Assigns. Lessee shall not have the right to assign, transfer or pledge this Agreement
and any such attempted assignment, transfer or pledge shall be null and void. This Agreement shall be binding on the parties hereto and their respective heirs, executors, administrators, successors and assigns, and shall inure to the benefit of the
parties hereto, and, except as otherwise provided herein, their respective heirs, executors, administrators, other legal representatives, successors and permitted assigns. 
 15. Taxes. Lessee shall be responsible for paying, and Goldman Sachs shall be responsible for collecting from Lessee and paying over to the appropriate authorities, all applicable Federal excise
taxes imposed under Internal Revenue Code §4261 and all sales, use and other excise taxes imposed by any authority in connection with the use of the Aircraft by Lessee hereunder. 
 16. Governing Law and Consent to Jurisdiction. This Agreement shall be governed by the laws of the State of New York without regard to its choice of law principles. The parties hereby consent and
agree to submit to the exclusive jurisdiction and venue of any state or federal court in New York, New York in any proceedings hereunder, and each hereby waives any objection to any such proceedings based on improper venue or forum non-conveniens or
similar principles. The parties hereto hereby further consent and agree to the exercise of such personal jurisdiction over them by such courts with respect to any such proceedings, waive any objection to the assertion or exercise of such
jurisdiction and consent to process being served in any such proceedings in the manner provided for the giving of notices hereunder. 

  
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 17. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable,
the legality, validity and enforceability of the remaining provisions shall not be affected or impaired. 
 18. Amendment or
Modification. This Agreement may be amended, modified or terminated only in writing duly executed by the parties hereto. 
 19.
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same Agreement, binding on all the parties notwithstanding that all the
parties are not signatories to the same counterpart. Each party may transmit its signature by facsimile, and any faxed counterpart of this Agreement shall have the same force and effect as a manually-executed original. 

20. Truth-in-Leasing Compliance. Goldman Sachs, on behalf of Lessee, shall (i) deliver a copy of this Agreement to the Aircraft Registration
Branch, Technical Section, of the FAA in Oklahoma City within 24 hours of its execution; (ii) notify the appropriate Flight Standards District Office at least 48 hours prior to the first flight under this Agreement of the registration number of
the Aircraft, and the location of the airport of departure and departure time for such flight; and (iii) carry a copy of this Agreement onboard the Aircraft at all times when the Aircraft is being operated under this Agreement. 

21. TRUTH IN LEASING STATEMENT PURSUANT TO SECTION 91.23 OF THE FEDERAL AVIATION REGULATIONS: 

(a) GOLDMAN SACHS CERTIFIES THAT EACH OF THE AIRCRAFT HAS BEEN INSPECTED AND MAINTAINED DURING THE 12-MONTH PERIOD PRECEDING THE DATE OF THIS AGREEMENT
(OR SUCH SHORTER PERIOD AS GOLDMAN SACHS SHALL HAVE POSSESSED THE AIRCRAFT) IN ACCORDANCE WITH THE PROVISIONS OF PART 91 OF THE FEDERAL AVIATION REGULATIONS. EACH OF THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN COMPLIANCE WITH THE MAINTENANCE
AND INSPECTION REQUIREMENTS FOR ALL OPERATIONS TO BE CONDUCTED UNDER THIS AGREEMENT. 
 (B) GOLDMAN SACHS AGREES, CERTIFIES AND ACKNOWLEDGES, AS
EVIDENCED BY ITS SIGNATURE BELOW, THAT WHENEVER ANY OF THE AIRCRAFT IS OPERATED UNDER THIS AGREEMENT, GOLDMAN SACHS SHALL BE KNOWN AS, CONSIDERED, AND SHALL IN FACT BE THE OPERATOR OF THE AIRCRAFT, AND THAT GOLDMAN SACHS UNDERSTANDS ITS
RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. 
 (C) THE PARTIES UNDERSTAND THAT AN EXPLANATION OF FACTORS AND
PERTINENT FEDERAL AVIATION REGULATIONS BEARING ON OPERATIONAL CONTROL CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed on the day and year
first above written. The persons signing below warrant their authority to sign. 
  

									
	 GSTP LLC
	  	LESSEE:                            
    	  	
				
	 By:
	 	 The Goldman Sachs Group, Inc., as

Managing Member
	  		  	
					
		 	 By:
	 	  
	  	  
	  	
		 		 	Name:	  		  	
		 		 	Title:	  		  	

 A legible copy of this Agreement shall be kept in the Aircraft for all operations conducted hereunder.

  
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 SCHEDULE A 

 

					
	 Year/Make/Model
	  	 Manufacturer’s Serial Number
	  	 FAA Registration Number

		  		  	

  
 8Form of Change in Control Employment Agreement

 Exhibit 10.12 
 CHANGE OF CONTROL EMPLOYMENT AGREEMENT 
 THIS AGREEMENT,
which shall only become effective as an employment agreement upon satisfaction of the conditions described in Section 1 hereof, is made as of the              day of
                    , 20            , by and among Hancock Holding Company,
a corporation organized and existing under the laws of the State of Mississippi (“HHC”) and
                    (“Executive”). HHC and its Subsidiaries are herein referred to collectively, as “Hancock.” 

W I T N E S S E T H: 
 WHEREAS, the Executive is employed by HHC or one of its Subsidiaries in a position of significant authority and responsibility; 

WHEREAS, Hancock on behalf of itself and its shareholders, wishes to attract and retain well-qualified executives
and key personnel and to assure itself of the continuity of its management; 
 WHEREAS, Hancock
recognizes that Executive is a valuable resource and, in the event of a Change of Control (as hereinafter defined) of HHC, Hancock desires to assure itself of Executive’s employment, continued loyalty and services or, in the event Executive is
terminated or his or her position with Hancock is adversely modified as a result thereof, to assure Executive of adequate severance; and 
 WHEREAS, in the event of a Change of Control of HHC, Hancock desires to assure, as much as possible, that its management team remains intact for a period of time after the Change of Control in
order to assure a smooth transition and to increase the value of its franchise to its shareholders[; and] [.] 
 [WHEREAS, HHC and Executive previously entered into a Change of Control Employment Agreement dated the             day of
            , 20            , and desire to amend and restate said agreement to comply with the applicable
provisions of Section 409A of the Code as herein provided and intend that this Agreement shall supersede and replace said prior agreement in its entirety.] 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Employment. 
 In the event of a Change of Control of HHC, Hancock hereby agrees to continue Executive in its employ, and Executive hereby agrees to remain in the employ of Hancock, for the Employment Period (as
hereinafter defined) provided Executive was employed by Hancock on the Effective Date (as hereinafter defined). It is hereby acknowledged and agreed that this Agreement shall not operate to ensure employment, and shall not constitute an employment
agreement, until and unless a Change of Control, as defined herein, occurs, and, in the event of a Change of Control, only for the Employment Period. 

 2. Position and Duties. 

(a) During the Employment Period, Executive shall hold such position and exercise such authority and perform such duties
as are commensurate with the position held and authority being exercised and duties being performed by Executive immediately prior to the Effective Date. Such services shall be performed at the location where Executive was employed immediately prior
to the Effective Date or at such other location as Hancock may reasonably require within a twenty (20) mile radius of such location, unless Executive agrees to employment at another location. The position, authority and duties of Executive
shall not be deemed to be commensurate with Executive’s previous position, authority or duties unless, after such Change of Control and throughout the Employment Period, Executive’s position, authority and duties with Hancock are at least
commensurate in all material respects with those held, exercised and assigned with Hancock immediately prior to the Effective Date. 
 (b) Excluding periods of vacation and sick leave to which Executive shall be entitled on the same terms and conditions as other executives and key employees, Executive agrees that, during the Employment
Period, Executive shall devote his or her full business time and attention to Executive’s responsibilities as described herein and shall perform such duties and responsibilities faithfully and efficiently. Notwithstanding the foregoing,
Executive may engage in such outside professional, civic, charitable and personal activities as are permitted by Hancock’s Code of Ethics and which do not materially interfere with the performance of Executive’s duties and responsibilities
under this Agreement. 
 3. Compensation and Benefits. 

During the Employment Period, Executive shall receive the following compensation and benefits: 

(a) An annual base salary which is not less than his or her annual base salary immediately prior to the Effective Date.
During the Employment Period, Executive’s annual base salary shall be reviewed at least annually and shall be increased from time to time consistent with increases in annual base salary awarded in the ordinary course of business to other
executives and key employees of Hancock. Any increase in annual base salary shall not limit or reduce any other obligation to Executive under this Agreement. Executive’s annual base salary shall not be reduced during the Employment Period
without Executive’s consent. 
 (b) An Employment Period Bonus (as hereinafter defined). The Employment
Period Bonus shall be payable within sixty (60) days after the end of each fiscal year. 
 (c)
Notwithstanding anything in Section 3(b) above to the contrary, however, Executive shall not be entitled to an Employment Period Bonus with respect to any year for which no bonuses have been or will be paid to any officer eligible to receive a
bonus from Hancock. It is expressly understood and agreed by the parties hereto that any bonus, regardless of when paid, that is paid to any officer of Hancock that relates to a year to which an Employment Period Bonus is otherwise required to be
paid, shall require the payment of an Employment Period Bonus to Executive. 
 (d) Executive shall be eligible
to participate in and to continue existing participation in any and all incentive compensation plans of Hancock which provide opportunities to receive compensation in addition to annual base salary and cash bonus on the same terms and conditions as
other executives and key employees of Hancock. 
 (e) Executive shall be entitled to participate in salaried
employee benefit plans of Hancock and receive perquisites on the same terms and conditions as other executives and key employees of Hancock. If any such employee benefit plan provides for reimbursement or payment of in-kind expenses to Executive, to
the extent required by Section 409A of the Code, (a) such reimbursement shall be made by December 31 of the calendar year following the calendar year in which the reimbursement expense is incurred and (b) no reimbursement or
in-kind expense under such employee benefit plan during one calendar year shall affect the expenses eligible for reimbursement or in-kind benefits during another calendar year. Such reimbursement or in-kind benefit may not be subject to liquidation
or exchange for another benefit. 

 (f) Executive shall be entitled to continue to participate in and accrue
credited service for retirement benefits and receive retirement benefits under and pursuant to the terms of any qualified retirement plan of Hancock or supplemental executive retirement plan of Hancock in effect on the Effective Date, and/or to
participate in any successor plan or other qualified retirement plan or supplemental executive retirement plan adopted after the Effective Date, on the same terms and conditions as other executives and key employees of Hancock. 

4. Termination. 
 (a) Executive acknowledges and agrees that his or her employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of
HHC or the Subsidiary by which Executive is employed and that he or she may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer). Hancock acknowledges and agrees
that Executive may resign his or her employment with Hancock at any time with or without Good Reason (as hereinafter defined). If, at any time after the Effective Date of a Change of Control and prior to the expiration of the Employment Period,
Executive is involuntarily terminated, other than for Cause or as a result of Executive’s Disability, or if Executive resigns his or her position for Good Reason, Hancock shall pay to Executive a lump-sum severance amount equal to [.99] [1.99]
times Executive’s Base Compensation and average Employment Period Bonus. Said payment shall be in addition to his accrued, but unpaid annual salary and benefits through the date of termination and, subject to the provisions of
Section 4(g), shall be paid on or before the last day of the month following the month in which such termination occurs. 
 (b) In order to ensure a smooth transition of management in the event of a Change of Control, Executive may also resign his or her employment voluntarily, without any reason, during the thirty
(30) day period immediately following the date that is six (6) months after the Effective Date of a Change of Control. If Executive so terminates his or her employment, Hancock shall pay to Executive a lump-sum severance amount equal to
[.99] [1.99] times Executive’s Base Compensation and his or her average Employment Period Bonus. Said payment shall be in addition to his accrued, but unpaid annual salary and benefits through the date of termination and, subject to the
provisions of Section 4(g), shall be paid on or before the last day of the month following the month in which such termination occurs. 
 (c) In the event Executive’s employment with Hancock is terminated on or after the Effective Date and prior to the expiration of the Employment Period for any reason other than as provided in 4(a) or
(b) above, Executive shall be entitled to and Hancock shall pay to Executive only his annual base salary through the date of termination not theretofore paid, and any other benefits accrued but unpaid through the date of termination.

 (d) In the event payments made to Executive pursuant to this Section 4 are subject to federal excise tax
by application of Sections 4999 and 280G of the Code by virtue of the payments due under Section 4(a), 4(b) or 4(f) hereunder or the receipt of other income related to a Change of Control, including, without limitation, income from the exercise
of HHC options, the Hancock shall pay Executive a cash bonus in an amount determined by the following formula: 
  

			
	 cash bonus = excise tax rate         x    
	  	 (cash payments made under Section 4(a), 4(b) or 4(f) + cash bonus)

 (e) In the event of termination pursuant to Section 4(a) or Section 4(b),
Hancock shall provide reasonable career counseling, outplacement services for the benefit of Executive for a period of six (6) months following such termination of employment, including, but not limited to, the use of a telephone, photocopying
and fax equipment and counseling services relating to availability of other job opportunities, all at no charge or cost to Executive. In the event Executive is a “specified employee” on the date of his or her termination, as provided in
paragraph 4(g) below, and the exemption for expense reimbursements and in-kind benefits under Treasury Regulations Section 1.409A-1(b)(9)(v) is determined by Hancock not to be applicable, such services shall be provided only at the sole cost of
Executive. Hancock shall thereafter reimburse Executive for the cost of such services at the time provided in paragraph 4(g) below. 

 (f) In the event Executive remains in the employ of Hancock for the entire
Employment Period and this Agreement is not terminated by Executive and Hancock or by its terms, then this Agreement shall terminate on the expiration of the Employment Period and Hancock shall pay to Executive an amount equal to (i) his or her
average annual base salary during the Employment Period; plus (ii) his or her average Employment Period Bonus. Such amount shall be paid in a lump-sum payment in cash on or before the last day of the month following the month in which the
Employment Period expires. 
 (g) To the extent required by Section 409A of the Code, in the event
Executive is a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code and Treasury Regulation Section 1.409A-1(i) on the date of his or her termination of employment with Hancock any amounts which become payable
under Section 4(a) or 4(b) or otherwise solely as a result of such termination of employment shall be paid on the first business day after the six-month anniversary of the date of such termination of employment. Whether or not Executive is a
specified employee and whether or not the payment is required to be delayed for such six-month period shall be determined by Hancock in accordance with the provisions of Treasury Regulation Section 1.409A-1(i). 

(h) Notwithstanding anything in this Section 4 to the contrary, the parties hereto acknowledge and agree that, upon
their mutual consent, they may modify or amend the provisions hereof or terminate this Agreement at any time before or after the Effective Date and that, in the event of a termination, the provisions hereof shall thereafter have no further force or
effect. No such modification, amendment or termination, however, shall be made which shall have the effect of causing any provision hereof or any payment hereunder to violate or result in immediate taxation to Executive under Section 409A of
the Code and any such attempted modification, amendment or termination shall be void and of no effect. 
  

	5.	 Confidential and Proprietary Information. 

Executive acknowledges and agrees that any and all non public information regarding Hancock and its customers is
confidential and the unauthorized disclosure of such information will result in irreparable harm to Hancock. Executive shall not, during his or her employment by Hancock and for a period of two (2) years thereafter, disclose or permit the
disclosure of any such confidential information to any person other than an employee of Hancock or an individual engaged by Hancock to render professional services to Hancock under circumstances that require such person to maintain the
confidentiality of such information, except as such disclosure may be required by law. The provisions of this Section 5 shall survive any termination of this Agreement. For purposes of this Section 5, the term “confidential
information” shall not include information that (i) was or becomes generally available to the public other than as a result of disclosure by Executive, (ii) was or becomes available to Executive on a non-confidential basis from a
source other than Hancock. 
  

	6.	 Definitions. 

 For purposes of this Agreement, the following terms shall have the meanings given them in this Section 6. 
 (a) “Base Compensation” shall mean for purposes of Section 4 Executive’s base salary for the twelve (12) months immediately preceding the date of Executive’s termination
under Section 4. 
 (b) “Cause” shall mean a material breach by Executive of his or her
obligations under Section 2 of this Agreement or any failure or refusal to perform the material duties associated with his or her position. 
 (c) “Change of Control” shall be deemed to have occurred upon the happening of any of the following events as to HHC: 

(i) The acquisition by any one person or by more than one person acting as a group, of ownership of stock
that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of HHC; 

 (ii) The acquisition by any one person, or by more than one
person acting as a group, during the twelve-month period ending on the date of the most recent acquisition, of ownership of stock possessing fifty percent (50%) or more of the total voting power of the stock of HHC; 

(iii) The replacement during any twelve-month period of a majority of the members of the Board of HHC by
directors whose appointment or election is not endorsed by a majority of the members of such Board before the date of such appointment or election; or 

(iv) The acquisition by any one person, or more than one person acting as a group, during the
twelve-month period ending on the date of the most recent acquisition, of assets of HHC having a total gross fair market value of more than fifty percent (50%) of the total gross fair market value of all of the assets of HHC immediately prior
to such acquisition or acquisitions. 
 For purposes of the above, “persons acting as a group” shall
have the meaning as in Treasury Regulations Section 1.409A-3(i)(5)(v)(B). 
 It is intended that the
definition of Change of Control contained herein shall be the same as a change of ownership of a corporation, a change in the effective control of a corporation and/or a change in the ownership of a substantial portion of a corporation’s assets
as reflected in Treasury Regulations Section 1.409A-3(i)(5), as modified by the substitution of the higher percentage requirement in items (ii) and (iv) above; and all questions or determinations in connection with any such Change of
Control shall be construed and interpreted in accordance with the provisions of such Regulations. This definition of Change of Control shall be applicable only for purposes of determining Executive’s rights under this Agreement which become
applicable in the event of such a Change of Control and for no other purpose. 
 (d) “Disability”
shall mean circumstances that qualify Executive for long-term disability benefits under Hancock’s Long-Term Disability Plan as in effect immediately prior to the Change of Control. 

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

(f) “Effective Date” shall mean the date on which a Change of Control occurs. Anything in this Agreement to the
contrary notwithstanding, if a Change of Control occurs and if Executive’s employment with Hancock is terminated prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by Executive that such termination of
employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or in anticipated of a Change of Control, then for all purposes of this
Agreement the “Effective Date” shall mean the date immediately prior to the date of such termination of employment. 
 (g) “Employment Period Bonus” shall mean a bonus (either pursuant to a bonus or incentive plan or program of Hancock or otherwise) in cash at least equal to the product of the average of the
bonus payout ratio for the three years (or such shorter period as Executive has been employed by Hancock) prior to the Effective Date (expressed as a fraction) times the target bonus established by Hancock for the year in question. For purposes of
this definition, the parties acknowledge and agree that the bonus payout ratio is the percentage of Executive’s target bonus for the year(s) in question which was actually awarded to Executive in the year(s) in question. 

(h) “Employment Period” shall mean the period commencing on the Effective Date of the Change of Control and
ending on the last day of the month that is three (3) years after the Effective Date. 
 (i) “Good
Reason” shall mean any of the following occurring without Executive’s consent: 
 (i)
a material diminution in Executive’s position, authority, duties or responsibilities from those which Executive held immediately prior to the Effective Date of the Change of Control; 

 (ii) a material diminution in the authority, duties, or
responsibilities of Executive’s supervisor; 
 (iii) requiring Executive to be based at any
office which is a material change from the geographic location of the office at which Executive was employed immediately prior to the Change of Control; provided, however , that any such relocation request shall not be considered a material
change if such relocation is within a twenty-mile radius of the office at which Executive was based immediately prior to the Effective Date of a Change of Control; 

(iv) a material diminution in the budget over which Executive retains authority; 

(v) a material diminution in Executive’s annual base salary; or 

(vi) any other action or inaction that constitutes a material breach by Hancock of any agreement,
including this Agreement, pursuant to which Executive performs services for Hancock. 
 Notwithstanding the
preceding, however, none of such actions shall constitute “Good Reason” unless Executive provides Hancock notice of the existence of such condition within ninety (90) days of the initial existence thereof and a period of at least
thirty (30) days following such notice within which to remedy such condition. 
 (j) Subsidiary(ies) shall
mean any corporation that is directly or indirectly, through one or more intermediaries, controlled by HHC. 
  

	7.	 Liability of HHC: Regulatory Restrictions. 

The parties recognize that the enforceability of employment contracts with banks are subject to some uncertainty and that
banks and their bank holding companies are subject to regulatory restrictions that change from time to time. As a result, Executive may be prevented from obtaining or enforcing any or all of his or her rights hereunder from HHC. Nothing herein shall
require HHC or a Subsidiary thereof to perform any obligation hereunder if such performance is prohibited or limited by applicable law or regulation, as determined in a proceeding or adjudication by a court, tribunal, or regulatory agency having
authority to so determine, which determination is final and subject to no further appeals. The parties further acknowledge and agree that it is the intent of this Agreement that it be enforced to the fullest degree permitted by law and regulation.

  

	8.	 Notices. 

 All notices and other communications provided for by this Agreement shall be in writing and shall be deemed to have been duly given when delivered in person or mailed by United States Certified Mail,
return receipt requested, postage prepaid, addressed as follows: 
  

					
	If to Executive:	 		  	
		 		  	
	 	 		  	
	 	 		  	
	 	 		  	
			
	If to HHC:	 		  	
			
	Hancock Holding Company	 		  	
	P. O. Box 4019	 		  	
	Gulfport, MS 39502-4019	 		  	
	Attention:                            
                                    	 		  	

 or to such other addresses any party may have furnished to the other in writing in
accordance with this Agreement. Notices and other communications hereunder to a Subsidiary shall be addressed to such Subsidiary’s principal place of business addressed to the President thereof, unless another address has been furnished for
such purpose under the provisions of this Section. 
  

	9.	 409A Compliance. 

 Notwithstanding any other provision in this Agreement, Hancock and Executive intend for this Agreement to comply in all respects with the provisions of Section 409A of the Code and Treasury
Regulations and other guidance issued thereunder. Each provision and term of this Agreement should be interpreted accordingly. If any provision or term of this Agreement would be prohibited by or be inconsistent with Section 409A of the Code,
then such provision shall be deemed to be conformed to comply with Section 409A of the Code or, if it is not possible to conform the provision to comply with Section 409A, such provision shall be null and void to the extent, and only to
the extent, required for this Agreement to be in compliance with Section 409A of the Code without affecting the remainder of this Agreement. 
  

	10.	 Governing Law. 

 The provisions of this Agreement shall be interpreted and construed in accordance with, and enforcement may be made under, the laws of the State of Mississippi. 

 

	11.	 Successors and Assigns. 

 (a) The Agreement is personal to Executive and, without the prior written consent of HHC, shall not be assignable by Executive. This Agreement shall inure to the benefit of and be enforceable by
Executive’s legal representative. 
 (b) This Agreement shall be binding upon and inure to the benefit of
HHC and its successors and assigns. 
  

	12.	 Severability. 

 If any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in
full force and effect to the fullest extent permitted by applicable law. 
  

	13.	 Entire Agreement; Amendment. 

This Agreement sets forth the entire Agreement of the parties hereto and supersedes all prior agreements, understandings
and covenants with respect to the subject matter hereof. This Agreement may be amended or terminated only by mutual agreement of the parties in writing. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

 

			
	HANCOCK HOLDING COMPANY
		
	By:	 	 
	Title	 	 

  

			
	EXECUTIVE
	
	 
	Print Name:

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