Document:

Exhibit
10.11(b)

 

[Form of
Amendment No. 1 to Life Insurance Endorsement Method

Split Dollar Plan Agreement]

 

AMENDMENT
NO. 1

TO

LIFE
INSURANCE

ENDORSEMENT
METHOD SPLIT DOLLAR PLAN

AGREEMENT

 

THIS AMENDMENT
NO. 1 (the “Amendment”) is made and entered into as of                        ,
2003 by and between NetBank (the “Bank”) and                                        
(the “Insured”) and amends that certain Life Insurance Endorsement Method Split
Dollar Plan Agreement (the “Agreement”) dated                                   ,
2002 between the Bank and the Insured.

 

WHEREAS, the
Bank and the Insured desire to reflect more clearly the intent of the Agreement
and desire to clarify certain ambiguities in the Agreement, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Bank and the Insured agree to amend the Agreement as follows
effective as of April 1, 2002:

 

1.  Subparagraphs VI(A) and VI(B) are hereby
amended by deleting the words “on the Board of the Bank” in the four places in
which they appear and inserting in lieu thereof the following:

 

as a director
of the Bank, the holding company of the Bank or any subsidiary of the Bank

 

2.  Subparagraph VI(B) is hereby further amended
by deleting the words “with the Bank” from the caption dealing with Total Years
of Service.

 

3.  Subparagraph IX(A) is hereby deleted and the
following is inserted in lieu thereof:

 

The Insured
shall be removed from office or not be reelected for Cause at any time.  Cause shall mean (i) the Insured’s conviction
of a felony; (ii) the request or demand for removal of the Insured from office
by any bank regulatory authority having jurisdiction over the Bank; or (iii)
the determination by at least two-thirds of the directors of the Bank then in
office, excluding the Insured, that the Insured’s conduct has been inimical to
the best interests of the Bank; or

 

4.  Paragraph XV is hereby deleted in its
entirety and the following is hereby inserted in lieu thereof:

 

A Change of
Control shall mean:

 

 

(i)                                     The
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 20% or more of either (A) the then
outstanding shares of common stock of NetBank, Inc. (the “Outstanding NetBank,
Inc. Common Stock”) or (B) the combined voting power of the then outstanding
voting securities of NetBank, Inc. entitled to vote generally in the election
of directors (the “Outstanding NetBank, Inc. Voting Securities”); provided,
however, that for purposes of this Subparagraph XV(i), the following
acquisitions shall not constitute a Change of Control: (W) any acquisition
directly from NetBank, Inc. or any corporation controlled by NetBank, Inc., (X)
any acquisition by NetBank, Inc. or any corporation controlled by NetBank,
Inc., (Y) any acquisition by any employee benefit plan (or related trust) sponsored
or maintained by NetBank, Inc. or any corporation controlled by NetBank, Inc.
or (Z) any acquisition by any corporation pursuant to a transaction which
complies with clauses (A), (B) and (C) of Subparagraph XV(iii); or

 

(ii)                                  That
individuals who, as of the date hereof, constitute the Board of Directors of
NetBank, Inc. (the “Incumbent Board”) cease for any reason to constitute at
least a majority of the Board of Directors of NetBank, Inc. (the “Board”);
provided, however, that any individual becoming a director subsequent to the
date hereof whose election, or nomination for election by NetBank Inc.’s
shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such individual
were a member of the Incumbent Board, but excluding, for this purpose, any such
individual whose initial assumption of office occurs as a result of an actual
or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by
or on behalf of a Person other than the Board; or

 

(iii)                               Consummation
of a reorganization, merger or consolidation or sale or other disposition of
all or substantially all of the assets of NetBank, Inc. or the acquisition of
assets of another corporation (a “Business Combination”), in each case, unless,
following such Business Combination, (A) all or substantially all of the
individuals and entities who were the beneficial owners, respectively, of the
Outstanding NetBank, Inc. Common Stock and Outstanding NetBank, Inc. Voting
Securities immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 50% of, respectively, the then outstanding
shares of common stock and the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as
the case may be, of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such
transaction owns NetBank, Inc. or all or substantially all of NetBank Inc.’s
assets either directly or through one or more subsidiaries) in substantially
the same proportions as their ownership, immediately prior to such Business
Combination, of the Outstanding NetBank,

 

2

 

Inc. Common
Stock and Outstanding NetBank, Inc. Voting Securities, as the case may be, (B)
no Person (excluding any corporation resulting from such Business Combination
or any employee benefit plan (or related trust) of NetBank, Inc. or such
corporation resulting from such Business Combination) beneficially owns,
directly or indirectly, 20% or more of, respectively, the then outstanding
shares of common stock or the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as
the case may be, of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such
transaction owns NetBank, Inc. or all or substantially all of NetBank’s assets
either directly or through one or more subsidiaries) except to the extent that
such ownership existed prior to the Business Combination and (C) at least a
majority of the members of the board of directors of the corporation resulting
from such Business Combination were members of the Incumbent Board at the time
of the execution of the initial agreement, or of the action of the Board,
providing for such Business Combination; or

 

(iv)                              Approval
by the shareholders of NetBank, Inc. of a complete liquidation or dissolution
of NetBank, Inc.; or

 

(v)                                 The
Bank shall cease to be a Majority-Owned Subsidiary (as that term is defined in
Rule 405 under the Securities Act of 1933) of NetBank, Inc.

 

Upon a Change
of Control, the Insured shall become 100 percent vested in the benefits
provided pursuant to the Agreement.

 

5.                                       As
amended hereby, the Agreement shall continue in full force and effect.

 

IN WITNESS WHEREOF, the parties hereto
acknowledge that each has carefully read this Amendment and executed the
original thereof as of the first day set forth herein above, and that upon
execution, each has received a conforming copy.

 

	
   

  	
  NETBANK

  
	
   

  	
   

  
	
  Witness:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Insured

  
							

 

3Exhibit 10.12

 

[Form of Personalized Policy Description
Under 

Supplemental Disability Insurance Plan]

 

 

Personalized Policy Description for:

 

[Name of
Executive Officer]

 

NetBank, Inc.

 

	
  Policy I

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Policy Number:

  	
   

  	
   

  
	
  Policy Form:

  	
   

  	
  601 Income III
  Choice, GR

  
	
  Monthly Benefit
  Amount:

  	
   

  	
  $3,000.00

  
	
  MNDA:

  	
   

  	
  2 Year Aggregate

  
	
  Residual:

  	
   

  	
  To Age 65
  Residual

  
	
  Elimination
  Period:

  	
   

  	
  180 Days

  
	
  Benefit Period:

  	
   

  	
  To age 65

  
	
  Issue Date:

  	
   

  	
  03/01/03

  
	
  Annual Premium:

  	
   

  	
  $

  

 

	
  Policy II

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Policy Number:

  	
   

  	
   

  
	
  Policy Form:

  	
   

  	
  601 Income III
  Choice, GR

  
	
  Monthly Benefit Amount:

  	
   

  	
  $2,000.00

  
	
  MNDA:

  	
   

  	
  2 Year Aggregate

  
	
  Residual:

  	
   

  	
  To Age 65
  Residual

  
	
  Elimination
  Period:

  	
   

  	
  180 Days

  
	
  Benefit Period:

  	
   

  	
  To age 65

  
	
  Issue Date:

  	
   

  	
  03/01/03

  
	
  Annual Premium:

  	
   

  	
  $Exhibit
10.13

 

Summary of
Relocation Arrangement

between NetBank, Inc. and Douglas K. Freeman

 

Date:                    November 2004

 

In connection with Mr.
Freeman’s relocation from Atlanta to Jacksonville, the Company agreed to
purchase from Mr. Freeman a condominium located in Atlanta used by him as his
residence.  The purchase price was
$1,759,430, representing the $1,7450,000 appraised
value of the condominium plus $9,430, which was the amount Mr. Freeman had
incurred in capital improvements on the condominium.Exhibit 10.8

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO
CREDIT AGREEMENT (this “Amendment”) is entered into as of May 3, 2004, by
and between FIRST CONSULTING GROUP, INC., a Delaware corporation (“Borrower”),
and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).

 

RECITALS

 

WHEREAS, Borrower is currently indebted to Bank pursuant to the terms
and conditions of that certain Credit Agreement between Borrower and Bank dated
as of May 1, 2003, as amended from time to time (“Credit Agreement”).

 

WHEREAS, Bank and Borrower have agreed to certain changes in the terms
and conditions set forth in the Credit Agreement and have agreed to amend the
Credit Agreement to reflect said changes.

 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree that the Credit
Agreement shall be amended as follows:

 

1.                                       Section 1.1. (a) is hereby
amended by deleting “May 3, 2004” as the last day on which Bank will make
advances under the Line of Credit, and by substituting for said date “May 2,
2005,” with such change to be effective upon the execution and delivery to Bank
of a promissory note dated as of May 3, 2004 (which promissory note shall
replace and be deemed the Line of Credit Note defined in and made pursuant to
the Credit Agreement) and all other contracts, instruments and documents
required by Bank to evidence such change.

 

2.                                       Section 4.9 (a), (b), and (c) are
hereby deleted in their entirety, and the following substituted therefor:

 

(a)                                 Tangible Net Worth not at any time less than
$65,000,000.00, with “Tangible Net Worth” defined as the aggregate of total
stockholders’ equity plus subordinated debt less any intangible assets.

 

(b)                                Total Liabilities divided by Tangible Net
Worth not at any time greater than 1.00 to 1.00, with “Total Liabilities”
defined as the aggregate of current liabilities and non-current liabilities
less subordinated debt, and with “Tangible Net Worth” as defined above.

 

(c)                                 Quick Ratio not at any time less than 1.75 to
1.0, with “ Quick Ratio” defined as the aggregate of: unrestricted cash,
unrestricted marketable securities, accounts receivables and non-billed
accounts receivables (recorded in financial statements) convertible into cash
divided by total current liabilities.”

 

1

 

3.                                       The following is hereby added to the Credit Agreement as Section 4.9
(e):

 

(e)                                  Unencumbered liquid assets (defined as cash and readily marketable securities
acceptable to Bank) with an aggregate not at any time less than Seven Million
Dollars ($7,000,000.00).”

 

4.                                       Except as specifically provided herein, all
terms and conditions of the Credit Agreement remain in full force and effect,
without waiver or modification. All terms defined in the Credit Agreement shall
have the same meaning when used in this Amendment. This Amendment and the
Credit Agreement shall be read together, as one document.

 

5.                                       Borrower hereby remakes all representations
and warranties contained in the Credit Agreement and reaffirms all covenants
set forth therein. Borrower further certifies that as of the date of this
Amendment there exists no Event of Default as defined in the Credit Agreement,
nor any condition, act or event which with the giving of notice or the passage
of time or both would constitute any such Event of Default.

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the day and year first written above.

 

	
  FIRST
  CONSULTING GROUP, INC.

  	
  WELLS FARGO BANK, 

  NATIONAL ASSOCIATION

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Walter J. McBride

  	
   

  	
  By:

  	
  /s/
  Elizabeth Fuchs

  	
   

  
	
   

  	
  Walter
  J. McBride

  	
   

  	
   

  	
  Elizabeth
  Fuchs

  	
   

  
	
   

  	
  Executive
  Vice President/CFO

  	
   

  	
   

  	
  Vice
  President

  	
   

  
							

 

2

 

	
  WELLS FARGO

  	
   

  	
  REVOLVING LINE OF CREDIT NOTE

  
	
   

  	
   

  	
   

  
	
  $7,000,000.00

  	
   

  	
  Long Beach, California

  
	
   

  	
   

  	
  May 3,
  2004

  

 

FOR VALUE
RECEIVED, the undersigned First Consulting Group, Inc.
(“Borrower”) promises to pay to the order of WELLS FARGO BANK, NATIONAL
ASSOCIATION (“Bank”) at its office at South Bay RCBO, 111 West
Ocean Blvd., Suite #300, Long Beach, CA 90802, or at such other
place as the holder hereof may designate, in lawful money of the United States
of America and in immediately available funds, the principal sum of $7,000,000.00, or so much thereof as may be advanced and be outstanding,
with interest thereon, to be computed on each advance from the date of its
disbursement as set forth herein.

 

1.                                INTEREST:

 

1.1                          Interest.  The outstanding principal balance of this
Note shall bear interest (computed on the basis of a 360-day
year, actual days elapsed) at a rate per annum equal to
the Prime Rate in effect from time to time. The “Prime Rate” is a base rate
that Bank from time to time establishes and which serves as the basis upon which
effective rates of interest are calculated for those loans making reference
thereto. Each change in the rate of interest hereunder shall become effective
on the date each Prime Rate change is announced within Bank.

 

1.2                          Payment
of Interest.  Interest accrued on
this Note shall be payable on the 1st day of each
month, commencing June 1,
2004.

 

1.3                          Default
Interest.   From and after the maturity date of this Note,
or such earlier date as all principal owing hereunder becomes due and payable
by acceleration or otherwise, the outstanding principal balance of this Note
shall bear interest until paid in full at an increased rate per annum (computed
on the basis of a 360-day
year, actual days elapsed) equal to 4% above the rate of interest from time to
time applicable to this Note.

 

2.                              BORROWING
AND REPAYMENT:

 

2.1                        Borrowing
and Repayment.  Borrower may from
time to time during the term of this Note borrow, partially or wholly repay its
outstanding borrowings, and reborrow, subject to all of the limitations, terms
and conditions of this Note and of the Credit Agreement between Borrower and
Bank defined below; provided however, that the total outstanding borrowings
under this Note shall not at any time exceed the principal amount stated above.  The unpaid principal balance of this
obligation at any time shall be the total amounts advanced hereunder by the
holder hereof less the amount of principal payments made hereon by or for any Borrower,
which balance may be endorsed hereon from time to time by the holder.  The outstanding principal balance of this
Note shall be due and payable in full on May 2, 2005.

 

2.2                        Advances.  Advances hereunder, to the total amount of
the principal sum available hereunder, may be made by the holder at the oral or
written request of (a) Luther J. Nussbaum, Walter
J. McBride or Philip H. Ockelmann, any one acting alone, who are
authorized to request advances and direct the disposition of any advances until
written notice of the revocation of such authority is received by the holder at
the office designated above, or (b) any person, with respect to advances
deposited to the credit of any deposit account of any Borrower, which advances,
when so deposited, shall be conclusively presumed to have been made to or for
the benefit of each Borrower regardless of the fact that persons other than those
authorized to request advances may have authority to draw against such account.
The holder shall have no obligation to determine whether any person requesting
an advance is or has been authorized by any Borrower.

 

2.3                        Application
of Payments.  Each payment made on
this Note shall be credited first, to any interest then due and second, to the
outstanding principal balance hereof.

 

1

 

 

3.                                 EVENTS OF DEFAULT:

 

This Note is made pursuant to and is subject
to the terms and conditions of that certain Credit Agreement between Borrower
and Bank dated as of May 1, 2003,
as amended from time to time (the “Credit Agreement”). Any default in the
payment or performance of any obligation under this Note, or any defined event
of default under the Credit Agreement, shall constitute an “Event of Default”
under this Note.

 

4.                                 MISCELLANEOUS:

 

4.1                        Remedies.  Upon the occurrence of any
Event of Default, the holder of this Note, at the holder’s option, may declare
all sums of principal and interest outstanding hereunder to be immediately due
and payable without presentment, demand, notice of nonperformance, notice of
protest, protest or notice of dishonor, all of which are expressly waived by
each Borrower, and the obligation, if any, of the holder to extend any further
credit hereunder shall immediately cease and terminate. Each Borrower shall pay
to the holder immediately upon demand the full amount of all payments,
advances, charges, costs and expenses, including reasonable attorneys’ fees (to
include outside counsel fees and all allocated costs of the holder’s in-house counsel),
expended or incurred by the holder in connection with the enforcement of the
holder’s rights and/or the collection of any amounts which become due to the
holder under this Note, and the prosecution or defense of any action in any way
related to this Note, including without limitation, any action for declaratory relief,
whether incurred at the trial or appellate level, in an arbitration proceeding
or otherwise, and including any of the foregoing incurred in connection with
any bankruptcy proceeding (including without limitation, any adversary
proceeding, contested matter or motion brought by Bank or any other
person)  relating to any Borrower or any
other person or entity.

 

4.2                        Obligations Joint and Several.  Should
more than one person or entity sign this Note as a Borrower, the obligations of
each such Borrower shall be joint and several.

 

4.3                        Governing Law.  This
Note shall be governed by and construed in accordance with the laws of the
State of California.

 

IN
WITNESS WHEREOF, the undersigned has executed this Note as of the date first
written above.

 

First
Consulting Group, Inc.

 

	
  By:

  	
  /s/
  Walter J. McBride

  	
   

  
	
   

  	
  Walter
  J. McBride, Executive Vice President/CFO

  

 

2

 

	
  WELLS FARGO

  	
   

  	
  CERTIFICATE OF INCUMBENCY

  

 

TO:  WELLS FARGO BANK, NATIONAL
ASSOCIATION

 

The undersigned, Michael A. Zuercher,
Secretary of First Consulting Group, Inc.,
a corporation created and existing under the laws of the state of Delaware, hereby certifies to Wells Fargo Bank, National
Association (“Bank”) that (a) the following named persons are duly elected
officers of this corporation and presently hold the titles specified below, (b) said
officers are authorized to act on behalf of this Corporation in transactions
with Bank, and (c) the signature opposite each officer’s name is his or
her true signature:

 

	
  TITLE

  	
   

  	
  NAME

  	
   

  	
  SIGNATURE

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chief Executive
  Officer/Chairman

  	
   

  	
  Luther J. Nussbaum

  	
   

  	
  /s/ Luther J. Nussbaum

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Executive Vice
  President/CFO

  	
   

  	
  Walter J. McBride

  	
   

  	
  /s/ Walter J. McBride

  

 

The undersigned further certifies that if any of the above-named
officers change, or if, at any time, any of said officers are no longer
authorized to act on behalf of this corporation in transactions with Bank, this
corporation shall immediately provide to Bank a new Certificate of Incumbency.
Bank is hereby authorized to rely on this Certificate of Incumbency until a new
Certificate of Incumbency certified by the Secretary of this corporation is
received by Bank.

 

IN TESTIMONY WHEREOF, I
have hereunto set my hand and affixed the corporate seal of said corporation as
of May 1, 2004.

 

	
   

  	
  /s/
  Michael A. Zuercher

  
	
   

  	
  Michael A. Zuercher, Secretary

  
	
  (SEAL)

  	
   

  

 

1

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