Document:

Exhibit 10.5

CHANGE
OF CONTROL AGREEMENT

THIS
AGREEMENT (“Agreement”) dated June 1, 2007, by and between
AMERICAN PATRIOT BANK, a Tennessee banking corporation (the “Bank”), and Jerry
Simmerly  (“Executive”).

W
I T N E S S E T H:

WHEREAS,
Executive has been effective in his service to Bank, and Bank recognizes the
valuable services that Executive has rendered and desires to be assured that
Executive will continue his active participation in the business of Bank; and

WHEREAS,
Executive is willing to continue to serve Bank but desires assurance that in
the event of any Change of Control (as such term is hereinafter defined) of the
Bank’s holding company, American Patriot Financial Group, Inc., a Tennessee
corporation (the “Holding Company”) he will continue to have the responsibility
and status he has earned.

NOW,
THEREFORE, in consideration of the promises and the mutual
agreements herein contained, Bank and Executive hereby agree as follows:

1.                                       In
order to protect Executive against the possible consequences of a Change of
Control (as such term is hereinafter defined) of Holding Company and thereby to
induce Executive to continue to serve as an executive officer of Bank, Bank
agrees that if control of Holding Company is changed, Executive shall be
entitled to receive within ten (10) business days of the Change of Control, a
lump-sum payment in cash in the amount of $1.00 less than three (3) times
the disqualified individual’s base amount of compensation (Internal Revenue
Code Sec. 280G(b)(2)(A)(ii)). The term “base amount,” referred to in this
provision, is the Employee’s annualized includible compensation for a base
period, consisting of the most recent five tax years ending before the date on
which the ownership or control of the Bank or Holding Company changed, or the
portion of this period during which the Employee performed personal services
for or was an employee of the Bank (Code Sec. 280G(b)(3) and (d)). “Annualized
includible compensation” for the base period is the average annual compensation
that was payable by the Bank and includible by the Employee in gross income for
the tax years of the base period (Code Sec. 280G(d)(1)).

2.                                       Even
in the event of termination of Executive’s service to the Bank, Executive’s
benefits hereunder shall be considered severance pay in consideration of his
past service, and pay in consideration of his continued service from the date
hereof, and his entitlement thereto shall not be governed by any duty to
mitigate his damages by seeking further employment nor offset by any compensation
which he may receive from future employment.

3.                                       As
used herein, the term “Change of Control” shall mean:

(i)                                     A
shareholder-approved merger or consolidation in which securities possessing
more than fifty percent (50%) of the total combined voting power of the Holding
Company’s outstanding securities are transferred to a person or persons
different from the persons holding those securities immediately prior to such
transaction;

(ii)                                  A
sale, transfer, or other disposition of all or substantially all of the Holding
Company’s assets and complete liquidation or dissolution of the Holding
Company;

(iii)                               The
acquisition, directly or indirectly, by any person or related group of persons
(other than the Holding Company or a person that directly or indirectly controls,
is controlled by, or is under common control with, the Holding Company), of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Securities Exchange Act of 1934, or comparable successor rule) of securities
possessing more than fifty percent (50%) of the total combined voting power of
the Holding Company’s outstanding securities pursuant to a tender or exchange
offer made directly to the Holding Company’s shareholders; or

(iv)                              Any
change in the composition of the Board of Directors of the Holding Company
resulting in a majority of the present directors of the Holding Company not
constituting a majority two years hence, provided, that in making such
determination, directors who are elected by, or on the recommendation of, such
present majority, shall be excluded.

4.                                       The
specific arrangements referred to above are not intended to exclude Executive’s
participation in other benefits available to executive personnel generally or
to preclude other compensation or benefits as may be authorized by the Board of
Directors from time to time.

5.                                       The
Bank agrees to require any successor (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business
and/or assets of the Bank, by agreement in form and substance satisfactory to
Executive, to expressly assume and agree to perform this Agreement in the same
manner and to the same extent that the Bank would be required to perform it if
no such succession had taken place. 
Failure of the Bank to obtain such agreement prior to the effectiveness
of any such succession shall be a breach of this agreement and shall entitle
Executive to compensation from the Bank in the same amount and on the same
terms as Executive would be entitled under Section 1 hereof.  As used in this Agreement, “Bank” shall mean
the Bank as hereinbefore defined and any successor to its business and/or
assets as aforesaid which executes and delivers the agreement provided for in
this paragraph 5 or which otherwise becomes bound by all the terms and
provisions of this Agreement by operation of law.

6.                                       This
Agreement shall inure to the benefit of and be enforceable by Executive’s
personal or legal representatives, executors, administrators, successors,
heirs, distributees, devisees, and legatees. 
If Executive should die while any amount would still be payable to
Executive hereunder if Executive had continued to live, all such amounts,
unless otherwise provided herein, shall be paid in accordance with the terms of
this Agreement of Executive’s devisee, legatee or other designee, or, if there
be no such designee, to Executive’s estate.

7.                                       Any
payment or delivery required under this Agreement shall be subject to all
requirements of the law with regard to withholding, filing, making of reports,
and the like, and Bank shall use its best efforts to satisfy promptly all such
requirements.

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8.                                       Prior
to a Change of Control as herein defined, this Agreement shall terminate if
Executive shall resign voluntarily, retire, become permanently and totally
disabled, voluntarily take another position requiring a substantial portion of
his time, or die.  This Agreement shall
also terminate if Executive’s employment as an officer of Bank shall have been
terminated for any reason by the Board of Directors of Bank as constituted
prior to any Change of Control of Holding Company as herein defined.

Not withstanding
any other provision, this Agreement will not terminate if the Bank terminates
the Executive for the primary purpose of avoiding payment of benefits under
this Agreement due to a prospective or actual “Change of Control” situation
that arises and the Executive has not exhibited conduct that could be
considered “Termination for Cause.” “Termination for Cause” means separation
from service for:

(a)                                  Gross
negligence for gross neglect of duties to the Bank; or

(b)                                 Conviction
of a felony or of a gross misdemeanor involving moral turpitude in connection
with the Executive’s employment with the Bank; or

(c)                                  Fraud,
dishonesty or willful violation of any law or significant Bank policy committed
in connection with the Executive’s employment and resulting in a material
adverse effect on the Bank.

9.                                       This
Agreement shall be construed and enforced under the laws of the State of
Tennessee.

IN
WITNESS WHEREOF, this Agreement has been executed on June 1,
2007.

	
  

  	
  AMERICAN PATRIOT BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J.  Robert Grubbs

  
	
   

  	
  Title:

  	
  Chairman &
  CEO

  
				

 

 3Exhibit
4.11

AMENDMENT
NO. 1 TO REGISTRATION RIGHTS AGREEMENT

This  AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT  (this
“Amendment”),
dated as of August 10, 2007, is
by and between Favrille, Inc. (the “Company”) and Kingsbridge Capital
Limited, an entity organized and existing under the laws of the British Virgin
Islands, whose registered address is Palm Grove House, 2nd Floor, Road Town,
Tortola, British Virgin Islands (the “Investor”).

WHEREAS, the Company and the Investor are parties to
that certain Registration Rights Agreement (the “Agreement”),
dated as of December 19, 2006; and

WHEREAS,  the
Company and the Investor each desire to amend the Agreement in accordance with
Section 4.5 of the Agreement.

NOW, THEREFORE, in consideration of the foregoing premises
and the mutual covenants and conditions set forth below, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, intending to be legally bound hereby, the parties hereto agree as
follows (capitalized terms used herein and not defined herein shall have the
respective meanings ascribed to them in the Agreement):

AMENDMENT

1.             Amendment of the Agreement.  Section 1.1(e) of the Agreement is
hereby amended and restated in its entirety to read as follows:

“(e)         Deferral or Suspension During a Blackout Period.  Notwithstanding the provisions of
Section 1.1(d), if in the good faith judgment of the Company, following
consultation with legal counsel, it would be detrimental to the Company or its
stockholders for the Registration Statement to be filed or for resales of
Registrable Securities to be made pursuant to the Registration Statement due to
(i) the existence of a material development or potential material development
involving the Company that the Company would be obligated to disclose or
incorporate by reference in the Registration Statement, which disclosure would
be premature or otherwise inadvisable at such time or would have a Material
Adverse Effect on the Company or its stockholders, or (ii) a filing of a
Company-initiated registration of any class of its equity securities, which, in
the good faith judgment of the Company, because such filing of the Registration
Statement or continued resale would adversely affect or require premature
disclosure of the filing of such Company-initiated registration (notice
thereof, a “Blackout Notice”), the Company shall have the right to (A)
immediately defer such filing for a period of not more than sixty (60) days
beyond the date by which such Registration Statement was otherwise required
hereunder to be filed or (B) suspend use of such Registration Statement for a
period of not more than thirty (30) days (any such deferral or suspension
period, a “Blackout Period”).  The Investor acknowledges that it
would be seriously detrimental to the Company and its stockholders for such
Registration Statement to be filed (or remain in effect) during a Blackout
Period and therefore essential to defer such filing (or suspend the use
thereof) during such Blackout Period and agrees to cease any disposition of the
Registrable Securities during such Blackout Period.  The Company may not
utilize any of its rights under this Section 1.1(e) to defer the filing of a
Registration Statement (or suspend its effectiveness) more than six (6) times
in any twelve (12) month period.  In the event that, within sixty (60)
days following any Settlement Date, the Company gives a Blackout Notice to the
Investor and the VWAP on the Trading Day immediately preceding such Blackout
Period (“Old VWAP”) is greater than the VWAP on the first Trading Day
following such Blackout Period that the Investor may sell its Registrable
Securities pursuant to an effective Registration Statement (“New VWAP”),
then the Company shall pay to the Investor, by wire transfer of immediately
available funds to an account designated by the Investor, the Blackout Amount
(as hereinafter defined).  For purposes of this Agreement, “Blackout
Amount” means the lesser of (x) the product of (i) the total number of
Registrable Securities issued to the Investor pursuant to the Purchase
Agreement and owned by the Investor immediately prior to the Blackout Period
and (ii) the result obtained by subtracting the New VWAP from the Old VWAP, (y)
90% of the most recent Draw Down Amount and (z) $8 million; provided, however,

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that no Blackout Amount
shall be payable in respect of Registrable Securities (A) that are otherwise
freely tradable by the Investor, including under Rule 144, during the Blackout
Period, or (B) if the Company offers to repurchase from the Investor such
Registrable Securities for a per share purchase price equal to the VWAP on the
Trading Day immediately preceding the day on which any such Blackout Period
began.  For any Blackout Period in respect of which a Blackout Amount becomes
due and payable, rather than paying the Blackout Amount, the Company may at is
sole discretion, issue to the Investor shares of Common Stock with an aggregate
market value determined as of the first Trading Day following such Blackout
Period equal to the Blackout Amount (“Blackout Shares”).”

2.             No Other Amendment.  Except as
amended by this Amendment, the Agreement shall remain in full force and effect
without any modification.  By executing
this Amendment below, the parties hereto
each certify that this Amendment has been executed and delivered in compliance
with the terms of Section 4.5 of the Agreement.

3.             Governing Law.  This Amendment shall be construed under the laws of
the State of New York.

4.             Effect of Amendment. 
In the event of a conflict between this Amendment and the Agreement,
this Amendment shall govern.

5.             Severability. 
If any provision of this Amendment becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, this Amendment
shall continue in full force and effect without said provision.

6.             Counterparts. 
This Amendment may be executed in multiple counterparts, each of which
shall be deemed to be an original instrument and all of which together shall
constitute one and the same instrument.

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IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be executed by the
undersigned, thereunto duly authorized, as of the date first set forth above.

	
  

  	
  FAVRILLE, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John P. Longenecker

  
	
   

  	
   

  	
  John P. Longenecker, Ph.D.

  
	
   

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KINGSBRIDGE CAPITAL LIMITED

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Maria O’Donoghue

  
	
   

  	
   

  	
  Maria O’Donoghue

  
	
   

  	
   

  	
  Director

  

 

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