Document:

Form of Indemnification Agreement

 Exhibit 10.15 
 EXECUTION VERSION 
 INDEMNIFICATION AGREEMENT 

AGREEMENT, dated as of January 28, 2011, by and between Capital Bank, a North Carolina state-chartered banking corporation and a
banking subsidiary of Capital Bank Corporation (the “Bank”), and [name] (the “Indemnitee”). 
 WHEREAS, it is essential to the Bank to retain and attract as directors and officers the most capable persons available; 
 WHEREAS, the Indemnitee is a director and/or officer of the Bank; 
 WHEREAS, the
Bank and the Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of companies in today’s environment; 
 WHEREAS, the Bank’s Bylaws, as amended (“Bylaws”), authorize the Bank to indemnify and advance expenses to its directors and officers to the extent provided therein, and the
Indemnitee serves as a director and/or officer of the Bank, in part, in reliance on such provisions; 
 WHEREAS, the Bank has
determined that its inability to retain and attract as directors and officers the most capable persons would be detrimental to the interests of the Bank, and that Bank therefore should seek to assure such persons that indemnification and insurance
coverage will be available in the future; and 
 WHEREAS, in recognition of the Indemnitee’s need for substantial
protection against personal liability in order to enhance the Indemnitee’s continued service to the Bank in an effective manner and the Indemnitee’s reliance on the Bank’s Bylaws, and in part to provide the Indemnitee with specific
contractual assurance that the protection promised by the Bank’s Bylaws will be available to the Indemnitee (regardless of, among other things, any amendment to or revocation of the applicable provisions of the Bank’s Bylaws or any change
in the composition of the governing bodies of the Bank or any acquisition transaction relating to the Bank), the Bank wishes to provide in this Agreement for the indemnification of and the advancing of expenses to the Indemnitee to the fullest
extent (whether partial or complete) permitted by law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of the Indemnitee under the directors’ and officers’ liability insurance
policy of the Bank. 
 NOW, THEREFORE, in consideration of the premises and of the Indemnitee continuing to serve the Bank
directly or, on its behalf or at its request, as an officer, director, manager, member, partner, fiduciary or trustee of, or in a similar capacity with, another Person (as defined below) or any employee benefit plan, and intending to be legally
bound hereby, the parties hereto agree as follows: 
 1. Certain Definitions. In addition to terms defined elsewhere
herein, the following terms have the following meanings when used in this Agreement: 

	 	(a)	Agreement: means this Indemnification Agreement, as amended from time to time hereafter. 

 

	 	(b)	Board of Directors: means the Board of Directors of the Bank. 

  

	 	(c)	Claim: means any threatened, asserted, pending or completed civil, criminal, administrative, investigative or other action, suit or proceeding of any kind
whatsoever, including any arbitration or other alternative dispute resolution mechanism, or any appeal of any kind thereof, or any inquiry or investigation, whether instituted by the Bank, any governmental agency or any other party, that the
Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative or other, including any arbitration or other alternative dispute resolution mechanism.

  

	 	(d)	 Indemnifiable Expenses: means (i) all expenses and liabilities, including judgments, fines, penalties, interest, amounts paid in settlement
with the approval of the Bank, and counsel fees and disbursements (including, without limitation, experts’ fees, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and
courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim relating to any
Indemnifiable Event by reason of the fact that Indemnitee is, was or has agreed to serve as a director, officer, employee or agent of the Bank, or while serving as a director or officer of the Bank, is or was serving or has agreed to serve on behalf
of or at the request of the Bank as a director, officer, manager, member, partner, fiduciary, trustee or in a similar capacity of another Person, or by reason of any action alleged to have been taken or omitted in any such capacity, whether
occurring before, on or after the date of this Agreement (any such event, an “Indemnifiable Event”), (ii) any liability pursuant to a loan guaranty (other than a loan guaranty given in a personal capacity) or otherwise, for any
indebtedness of the Bank or any subsidiary of the Bank, including, without limitation, any indebtedness which the Bank or any subsidiary of the Bank has assumed or taken subject to, and (iii) any liabilities which an Indemnitee incurs as a
result of acting on behalf of the Bank (whether as a fiduciary or otherwise) in connection with the operation, administration or maintenance of an employee benefit plan or any related trust or funding mechanism (whether such liabilities are in the
form of excise taxes assessed by the United States Internal Revenue Service, penalties assessed by the United States Department of Labor, restitutions to such a plan or trust or

  
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other funding mechanism or to a participant or beneficiary of such plan, trust or other funding mechanism, or otherwise). 

 

	 	(e)	Indemnitee-Related Entities: means any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise
(other than the Bank or any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise Indemnitee has agreed, on behalf of the Bank or at the Bank’s request, to serve as a
director, officer, employee or agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled to indemnification or advancement of expenses with respect to which, in whole or in part, the
Bank may also have an indemnification or advancement obligation (other than as a result of obligations under an insurance policy). 

  

	 	(f)	Jointly Indemnifiable Claim: means any Claim for which the Indemnitee shall be entitled to indemnification from both an Indemnitee-Related Entity and the Bank
pursuant to applicable law, any indemnification agreement or the certificate of incorporation, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership or comparable organizational documents of
the Bank and an Indemnitee-Related Entity. 

  

	 	(g)	Loss: means all losses, Claims, damages, fines, or penalties, including, without limitation, any legal or other expenses (including, without limitation, any
legal fees, judgments, fines, appeal bonds or related expenses) incurred in connection with defending, investigating or settling any Claim, fine, penalty or similar action. 

 

	 	(h)	Person: means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization,
governmental entity or other entity. 

 2. Basic Indemnification Arrangement; Advancement of Indemnifiable
Expenses. 
 (a) In the event that the Indemnitee was, is or becomes a party to, or witness or other
participant in, or is threatened to be made a party to, or witness or other participant in, a Claim by reason of (or arising in part out of) an Indemnifiable Event, the Bank shall indemnify the Indemnitee, or cause such Indemnitee to be indemnified,
to the fullest extent permitted by the laws of the State of North Carolina in effect on the date hereof and as amended from time to time, and shall hold the Indemnitee harmless from and against all Losses that arise by reason of (or arising in part
out of) an Indemnifiable Event; provided, however, that no change in the laws of the State of North Carolina shall 

  
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have the effect of reducing the benefits available to the Indemnitee hereunder based on the laws of the State of North Carolina as in effect on the date hereof or as such benefits may improve as
a result of amendments after the date hereof. The rights of the Indemnitee provided in this Section 2 shall include, without limitation, the rights set forth in the other sections of this Agreement. Payments of Indemnifiable Expenses shall be
made as soon as practicable but in any event no later than twenty (20) calendar days after written demand is presented to the Bank, against any and all Indemnifiable Expenses. 

(b) Upon request by the Indemnitee, the Bank shall advance, or cause to be advanced, any and all Indemnifiable Expenses
incurred by the Indemnitee (an “Expense Advance”) on the terms and subject to the conditions of this Agreement, as soon as practicable but in any event no later than twenty (20) calendar days after written demand, together with
supporting documentation, is presented to the Bank. The Bank shall, in accordance with such request (but without duplication), either (i) pay, or cause to be paid, such Indemnifiable Expenses on behalf of the Indemnitee, or (ii) reimburse,
or cause the reimbursement of, the Indemnitee for such Indemnifiable Expenses. The Indemnitee’s right to an Expense Advance is absolute and shall not be subject to any condition that the Board of Directors shall not have determined that the
Indemnitee is not entitled to be indemnified under applicable law. However, the obligation of the Bank to make an Expense Advance pursuant to this Section 2(b) shall be subject to the condition that, if, when and to the extent that a final
judicial determination is made (as to which all rights of appeal therefrom have been exhausted or lapsed) that the Indemnitee is not entitled to be so indemnified under applicable law, the Bank shall be entitled to be reimbursed by the Indemnitee
(who hereby agrees to reimburse the Bank) for all such amounts theretofore paid (it being understood and agreed that the foregoing agreement by the Indemnitee shall be deemed to satisfy any requirement that the Indemnitee provide the Bank with an
undertaking to repay any Expense Advance if it is ultimately determined that the Indemnitee is not entitled to indemnification under applicable law). The Indemnitee’s undertaking to repay such Expense Advances shall be unsecured and
interest-free. 
 (c) Notwithstanding anything in this Agreement to the contrary, the Indemnitee shall not be
entitled to indemnification or advancement of Indemnifiable Expenses pursuant to this Agreement in connection with any Claim initiated by the Indemnitee unless (i) the Bank has joined in or the Board of Directors of the Bank has authorized or
consented to the initiation of such Claim or (ii) the Claim is one to enforce the Indemnitee’s rights under this Agreement (including an action pursued by the Indemnitee to secure a determination that the Indemnitee should be indemnified
under applicable law). 
 (d) The indemnification obligations of the Bank under Section 2(a) shall be
subject to the condition that the Board of Directors shall not have determined (by majority vote of directors who are not parties to the applicable Claim) that the indemnification of the Indemnitee is not proper in the circumstances because the
Indemnitee is not entitled to be indemnified under applicable law. If the Board of Directors determines that the Indemnitee is not entitled to be indemnified in whole or in part under applicable law, the Indemnitee shall have the right to commence
litigation in 

  
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any court in the State of North Carolina having subject matter jurisdiction thereof and in which venue is proper, seeking an initial determination by the court or challenging any such
determination by the Board of Directors or any aspect thereof, including the legal or factual bases therefor, and the Bank hereby consents to service of process and to appear in any such proceeding. If the Indemnitee commences legal proceedings in a
court of competent jurisdiction to secure a determination that the Indemnitee should be indemnified under applicable law, any determination made by the Board of Directors that the Indemnitee is not entitled to be indemnified under applicable law
shall not be binding, the Indemnitee shall continue to be entitled to receive Expense Advances, and the Indemnitee shall not be required to reimburse the Bank for any Expense Advance, until a final judicial determination is made in the Claim (as to
which all rights of appeal therefrom have been exhausted or lapsed) that the Indemnitee is not entitled to be so indemnified under applicable law. Any determination by the Board of Directors otherwise shall be conclusive and binding on the Bank and
the Indemnitee. 
 (e) To the extent that the Indemnitee has been successful on the merits or otherwise in
defense of any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, including dismissal without prejudice, the Indemnitee shall be indemnified against all Indemnifiable Expenses actually
and reasonably incurred in connection therewith, notwithstanding an earlier determination by the Board of Directors that the Indemnitee is not entitled to indemnification under applicable law. 

(f) Notwithstanding anything to the contrary herein, the Bank shall not be obligated pursuant to the terms of this
Agreement to indemnify Indemnitee for any acts or omissions or transactions from which a director, officer, employee or agent may not be relieved of liability under applicable law. 

(g) Notwithstanding any other provisions contained herein, this Agreement and the rights and obligations of the parties
hereto are subject to the requirements, limitations and prohibitions set forth in state and federal laws, rules, regulations, and orders regarding indemnification and prepayment of expenses, legal or otherwise, and liabilities, including, without
limitation, Section 55-8-51 of the North Carolina Business Corporation Act, Section 18(k) of the Federal Deposit Insurance Act and Part 359 of the Federal Deposit Insurance Corporation’s Rules and Regulations and any successor
regulations thereto. 
 3. Indemnification for Additional Expenses. The Bank shall indemnify, or cause the
indemnification of, the Indemnitee against any and all Indemnifiable Expenses and, if requested by the Indemnitee, shall advance such Indemnifiable Expenses to the Indemnitee subject to and in accordance with Section 2, which are incurred by
the Indemnitee in connection with any action brought by the Indemnitee, the Bank or any other Person with respect to the Indemnitee’s right to: (i) indemnification or an Expense Advance by the Bank under this Agreement or any provision of
the Bank’s Articles of Incorporation, as amended (the “Articles of Incorporation”) and/or Bylaws and/or (ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Bank,
regardless of whether the Indemnitee ultimately is determined to be entitled to 

  
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such indemnification, Expense Advance or insurance recovery, as the case may be; provided that the Indemnitee shall be required to reimburse such Indemnifiable Expenses in the event that a final
judicial determination is made in the Claim (as to which all rights of appeal therefrom have been exhausted or lapsed) that such action brought by the Indemnitee, or the defense by the Indemnitee of an action brought by the Bank or any other Person,
as applicable, was frivolous or in bad faith. 
 4. Partial Indemnity, Etc. If the Indemnitee is entitled under any
provision of this Agreement to indemnification by the Bank for some or a portion of the Indemnifiable Expenses in respect of a Claim but not, however, for all of the total amount thereof, the Bank shall nevertheless indemnify the Indemnitee for the
portion thereof to which the Indemnitee is entitled. 
 5. Burden of Proof. In connection with any determination by the
Board of Directors, any court or otherwise as to whether the Indemnitee is entitled to be indemnified hereunder, the Board of Directors or court shall presume that the Indemnitee has satisfied the applicable standard of conduct and is entitled to
indemnification, and the burden of proof shall be on the Bank or its representative to establish, by clear and convincing evidence, that the Indemnitee is not so entitled. 
 6. Reliance as Safe Harbor. The Indemnitee shall be entitled to indemnification for any action or omission to act undertaken (a) in good faith reliance upon the records of the Bank, including
its financial statements, or upon information, opinions, reports or statements furnished to the Indemnitee by the officers or employees of the Bank or any of its subsidiaries in the course of their duties, or by committees of the Board of Directors,
or by any other Person as to matters the Indemnitee reasonably believes are within such other Person’s professional or expert competence, or (b) on behalf of the Bank in furtherance of the interests of the Bank in good faith in reliance
upon, and in accordance with, the advice of legal counsel or accountants, provided such legal counsel or accountants were selected with reasonable care by or on behalf of the Bank. In addition, the knowledge and/or actions, or failures to act, of
any other director, officer, agent or employee of the Bank shall not be imputed to the Indemnitee for purposes of determining the right to indemnity hereunder. 
 7. No Other Presumptions. For purposes of this Agreement, the termination of any Claim, action, suit or proceeding, by judgment, order, settlement (whether with or without court approval) or
conviction, or upon a plea of nolo contendere or its equivalent, shall not create a presumption that the Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that
indemnification is not permitted by applicable law. In addition, neither the failure of the Board of Directors to have made a determination as to whether the Indemnitee has met any particular standard of conduct or had any particular belief, nor an
actual determination by the Board of Directors that the Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings by the Indemnitee to secure a judicial determination that the
Indemnitee should be indemnified under applicable law shall be a defense to the Indemnitee’s claim or create a presumption that 

  
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the Indemnitee has not met any particular standard of conduct or did not have any particular belief. 
 8. Nonexclusivity, Etc. The rights of the Indemnitee hereunder shall be in addition to any other rights the Indemnitee may have under the Articles of Incorporation and Bylaws, the laws of the State
of North Carolina, or otherwise. To the extent that a change in the laws of the State of North Carolina or the interpretation thereof (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded
currently under the Articles of Incorporation and Bylaws, it is the intent of the parties hereto that the Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. To the extent that there is a conflict or
inconsistency between the terms of this Agreement and the Articles of Incorporation or Bylaws, it is the intent of the parties hereto that the Indemnitee shall enjoy the greater benefits regardless of whether contained herein, in the Articles of
Incorporation or Bylaws. No amendment or alteration of the Articles of Incorporation or Bylaws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement. 

9. Liability Insurance. The Bank shall use its reasonable best efforts to purchase and maintain a policy or policies of insurance
with reputable insurance companies with A.M. Best ratings of “A” or better, providing Indemnitee with coverage for any liability asserted against, or incurred by, Indemnitee or on Indemnitee’s behalf by reason of the fact that
Indemnitee is or was or has agreed to serve as a director, officer, employee or agent of the Bank, or while serving as a director or officer of the Bank, is or was serving or has agreed to serve on behalf of or at the request of the Bank as a
director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan
or other enterprise, or arising out of Indemnitee’s status as such, whether or not the Bank would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement. Such insurance policies shall have coverage
terms and policy limits at least as favorable to Indemnitee as the insurance coverage provided to any other director or officer of the Bank. If the Bank has such insurance in effect at the time the Bank receives from Indemnitee any notice of the
commencement of an action, suit or proceeding, the Bank shall give prompt notice of the commencement of such action, suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Bank shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policy. 

10. Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the
Bank against the Indemnitee, the Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Bank shall
be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter
period shall govern. 

  
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 11. Amendments, Etc. No supplement, modification or amendment of this Agreement shall
be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver. In the event the Bank or any of its subsidiaries enters into an indemnification agreement with another director, officer, agent, fiduciary or manager of the Bank or any of its subsidiaries containing a term or terms
more favorable to the indemnitee than the terms contained herein (as determined by the Indemnitee), the Indemnitee shall be afforded the benefit of such more favorable term or terms and such more favorable term or terms shall be deemed incorporated
by reference herein as if set forth in full herein. As promptly as practicable following the execution by the Bank or the relevant subsidiary of each indemnity agreement with any such other director, officer or manager (i) the Bank shall send a
copy of the indemnity agreement to the Indemnitee, and (ii) if requested by the Indemnitee, the Bank shall prepare, execute and deliver to the Indemnitee an amendment to this Agreement containing such more favorable term or terms. 

12. Subrogation. Subject to Section 13, in the event of payment by the Bank under this Agreement, the Bank shall be
subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee with respect to any insurance policy. Indemnitee shall execute all papers reasonably required and shall do everything that may be reasonably necessary to
secure such rights, including the execution of such documents necessary to enable the Bank effectively to bring suit to enforce such rights. The Bank shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection
with such subrogation. 
 13. Jointly Indemnifiable Claims. Given that certain Jointly Indemnifiable Claims may arise due
to the relationship between the Indemnitee-Related Entities and the Bank and the service of the Indemnitee as a director and/or officer of the Bank at the request of the Indemnitee-Related Entities, the Bank acknowledges and agrees that the Bank
shall be fully and primarily responsible for the payment to the Indemnitee in respect of indemnification and advancement of Indemnifiable Expenses in connection with any such Jointly Indemnifiable Claim, pursuant to and in accordance with the terms
of this Agreement, irrespective of any right of recovery the Indemnitee may have from the Indemnitee-Related Entities. Under no circumstance shall the Bank be entitled to any right of subrogation or contribution by the Indemnitee-Related Entities
and no right of recovery the Indemnitee may have from the Indemnitee-Related Entities shall reduce or otherwise alter the rights of the Indemnitee or the obligations of the Bank hereunder. In the event that any of the Indemnitee-Related Entities
shall make any payment to the Indemnitee in respect of indemnification or advancement of expenses with respect to any Jointly Indemnifiable Claim, the Indemnitee-Related Entity making such payment shall be subrogated to the extent of such payment to
all of the rights of recovery of the Indemnitee against the Bank under the terms of this Agreement, and the Indemnitee shall execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights,
including the execution of such documents as may be necessary to enable the Indemnitee-Related Entities effectively to bring suit to enforce such rights. Each of the Indemnitee-Related Entities shall be third-party beneficiaries

  
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with respect to this Section 13, entitled to enforce this Section 13 against the Bank as though each such Indemnitee-Related Entity were a party to this Agreement. 

14. No Duplication of Payments. Subject to Section 13 hereof, the Bank shall not be liable under this Agreement to make any
payment in connection with any Claim made against the Indemnitee to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, any provision of the Bank’s Articles of Incorporation and Bylaws, or otherwise)
of the amounts otherwise indemnifiable hereunder. 
 15. Defense of Claims. The Bank shall be entitled to participate in
the defense of any Claim relating to an Indemnifiable Event or to assume the defense thereof, with counsel reasonably satisfactory to the Indemnitee; provided that if the Indemnitee reasonably believes, after consultation with counsel
selected by the Indemnitee, that (i) the use of counsel chosen by the Bank to represent the Indemnitee would present such counsel with an actual or potential conflict of interest, (ii) the named parties in any such Claim (including any
impleaded parties) include both (A) the Bank or any subsidiary of the Bank and (B) the Indemnitee, and the Indemnitee concludes that there may be one or more legal defenses available to him that are different from or in addition to those
available to the Bank or any subsidiary of the Bank or (iii) any such representation by such counsel would be precluded under the applicable standards of professional conduct then prevailing, then the Indemnitee shall be entitled to retain
separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any particular Claim) at the Bank’s expense. The Bank shall not be liable to the Indemnitee under this Agreement for any amounts paid in
settlement of any Claim relating to an Indemnifiable Event effected without the Bank’s prior written consent. The Bank shall not, without the prior written consent of the Indemnitee, effect any settlement of any Claim relating to an
Indemnifiable Event which the Indemnitee is or could have been a party unless such settlement solely involves the payment of money and includes a complete and unconditional release of the Indemnitee from all liability on all claims that are the
subject matter of such Claim. Neither the Bank nor the Indemnitee shall unreasonably withhold its or his consent to any proposed settlement; provided that the Indemnitee may withhold consent to any settlement that does not provide a complete
and unconditional release of the Indemnitee. To the fullest extent permitted by North Carolina law, the Bank’s assumption of the defense of a Claim pursuant to this Section 15 will constitute an irrevocable acknowledgement by the Bank that
any Indemnifiable Expenses incurred by or for the account of Indemnitee incurred in connection therewith are indemnifiable by the Bank under Section 2 of this Agreement. 
 16. Binding Effect, Etc. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Bank), assigns, spouses, heirs, executors and personal and legal representatives. The Bank shall require and cause any
successor(s) (whether directly or indirectly, whether in one or a series of transactions, and whether by purchase, merger, consolidation, or otherwise) to all or a significant portion of the business and/or assets of the Bank and/or its subsidiaries
(on a 

  
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consolidated basis), by written agreement in form and substance reasonably satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that the Bank would be required to perform if no such succession had taken place; provided that no such assumption shall relieve the Bank from its obligations hereunder and any obligations shall thereafter be joint and several. This
Agreement shall continue in effect regardless of whether the Indemnitee continues to serve as a director or officer of the Bank and/or on behalf of or at the request of the Bank as a director, officer, manager, member, partner, fiduciary, trustee or
in a similar capacity of another Person. Except as provided in this Section 16, neither party shall, without the prior written consent of the other, assign or delegate this Agreement or any rights or obligations hereunder. 

17. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any
reason whatsoever, (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation,
all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and
to give effect to the terms of this Agreement. 
 18. Specific Performance, Etc. The parties recognize that if any
provision of this Agreement is violated by the parties hereto, the Indemnitee may be without an adequate remedy at law. Accordingly, in the event of any such violation, the Indemnitee shall be entitled, if the Indemnitee so elects, to institute
proceedings, either in law or at equity, to obtain damages, to enforce specific performance, to enjoin such violation, or to obtain any relief or any combination of the foregoing as the Indemnitee may elect to pursue. 

19. Notices. All notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient if
contained in a written document delivered in person or sent by telecopy, nationally recognized overnight courier or personal delivery, addressed to such party at the address set forth below or such other address as may hereafter be designated on the
signature pages of this Agreement or in writing by such party to the other parties: 
  

	 	(a)	If to the Bank, to: 

 Capital
Bank Corporation 
 333 Fayetteville Street, Suite 700 
 Raleigh, North Carolina 27601 
 Attn: President 

Telephone: (919) 645-0868 

  
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 Fax: (919) 645-6353 

with copies to (which copies alone shall not constitute notice): 
 North American Financial Holdings, Inc. 
 4725 Piedmont Row Drive 

Charlotte, North Carolina 28210 
 Attn: Christopher G. Marshall 
 Telephone: 704-554-5901 

Fax: 704-964-2442 
 and 
 Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York, New York 10019 
 Attn: David E. Shapiro 

Telephone: (212) 403-1000 
 Fax: (212) 403-2000 
  

	 	(b)	If to the Indemnitee, to the address set forth on Annex A hereto. 

 All such notices, requests, consents and other communications shall be deemed to have been given or made if and when received (including by overnight courier) by the parties at the above addresses or sent
by electronic transmission, with confirmation received, to the telecopy numbers specified above (or at such other address or telecopy number for a party as shall be specified by like notice). Any notice delivered by any party hereto to any other
party hereto shall also be delivered to each other party hereto simultaneously with delivery to the first party receiving such notice. 
 20. Counterparts. This Agreement may be executed in counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same
agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 
 21. Headings. The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction or interpretation thereof. 
 22. Governing Law. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of North Carolina applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws. 

  
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 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written. 
  

			
	CAPITAL BANK
		
	By:	 	 
		 	Name:
		 	Title:

  

	
	INDEMNITEE:
	
	  
	[name]

 Annex A 

 

			
	Name and Business Address.
	 	 	 
	 	 	 
	 	 	 
	Attn:	 	 
	Tel:	 	 
	Fax:Contingent Value Rights Agreement dated September 7, 2011

 Exhibit 10.18 
 CONTINGENT VALUE RIGHTS AGREEMENT 
 THIS CONTINGENT VALUE RIGHTS
AGREEMENT, dated as of September 7, 2011 (this “Agreement”), is entered into by GREEN BANKSHARES, INC., a corporation organized under the laws of the State of Tennessee
(the “Company”) for the benefit of the Holders (as defined herein). 
 RECITALS: 

WHEREAS, North American Financial Holdings, Inc. (“Purchaser”), the Company and GreenBank, a Tennessee state-chartered
banking corporation and a banking subsidiary of the Company (the “Bank”), have entered into an Investment Agreement dated as of May 5, 2011 (the “Investment Agreement”), pursuant to which the Company intends to
issue and sell to Purchaser, and Purchaser intends to purchase from the Company, as an investment in the Company, 119,900,000 shares of common stock, par value $0.01 per share, of the Company (the “Common Stock”) at a purchase price
of $1.81 per share on the terms and conditions described in the Investment Agreement. 
 WHEREAS, as a condition to the Closing
of the Investment Agreement, the Company agreed to issue contingent value rights to its shareholders, as described herein. 

WHEREAS, the Company has done all things necessary to make the contingent value rights, when issued pursuant to the Investment Agreement
and hereunder, the valid obligations of the Company and to make this Agreement a valid and binding agreement of the Company, in accordance with its terms. 
 NOW, THEREFORE, for and in consideration of the premises and the consummation of the transactions referred to above, it is mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders (as hereinafter defined), as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. 
 (a) For all purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires: 

(i) the terms defined in this Article have the meanings assigned to them in this Article; 

(ii) all accounting terms used herein and not expressly defined herein shall have the meanings assigned to such terms in
accordance with U.S. generally accepted accounting principles, as in effect on the date hereof; 
 (iii) the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision; 

 (iv) unless the context otherwise requires, words describing the singular
number shall include the plural and vice versa, words denoting any gender shall include all genders; and 
 (v)
all references to “including” shall be deemed to mean including without limitation. 
 (b) The following terms shall
have the meanings ascribed to them as follows: 
 “Agreement” has the meaning set forth in the first paragraph
of this agreement. 
 “Bank” has the meaning set forth in the first recital. 

“Board Resolution” means a copy of a resolution certified by the secretary or an assistant secretary of the Company to
have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 

“Business Day” means any day except Saturday, Sunday and any day that shall be a legal holiday or a day on which banking
institutions in the State of New York or in the State of Tennessee generally are authorized or required by law or other governmental action to close. 
 “Change of Control” means the consummation of any transaction resulting in the holders of the equity interests of the Parent immediately prior to such transaction owning, directly or
indirectly, less than 50% of the equity interests of the Parent immediately following such transaction. For purposes of the preceding sentence, the “Parent” shall mean the ultimate Person or Group that together with their
affiliates, directly or indirectly owns or controls, by share ownership, contract or otherwise, a majority of the equity interests of the Company. 
 “Code” means the U.S. Internal Revenue Code of 1986, as amended and the Treasury Regulations promulgated thereunder. 

“Common Stock” has the meaning set forth in the first recital. 

“Company” has the meaning set forth in the first paragraph of this Agreement. 

“Credit Losses” means the charge-offs occurring after May 5, 2011 with respect to any loans outstanding as of
May 5, 2011 as set forth on Schedule 1 to this Agreement for the period commencing on May 5, 2011 and ending on the Maturity Date less any recoveries in respect of such charge-offs. 

“CVRs” means the contingent value rights issued by the Company pursuant to the Investment Agreement and this Agreement.

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Group” has the meaning assigned to such term in Section 13(d)(3) of the Exchange Act. 

“Holder” means a Person in whose name a CVR is registered in the CVR Register. 

  
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 “Investment Agreement” has the meaning set forth in the first recital.

 “Loan Portfolio Committee” means the Loan Portfolio Committee of the Bank, established pursuant to
Section 4.1(c) of the Investment Agreement and any successor or replacement committee. 
 “Loss Shortfall”
has the meaning set forth in Section 2.4. 
 “Maturity Date” means September 7, 2016. 

“Maximum Payment Amount” means an amount equal to $0.75 per CVR, payable in cash. 

“Paying Agent” has the meaning set forth in Section 2.4. 

“Payment Amount” has the meaning set forth in Section 2.4. 

“Payment Certificate” has the meaning set forth in Section 2.4. 

“Payment Date” means the date that a Payment Amount is paid by the Company to the Holders, which date shall be
established pursuant to Section 2.4. 
 “Permitted Transfer” means any transfer of a CVR held by a natural
person upon the death of such Holder by will or the laws of descent or distribution, in which case the designee, legal representative, legatee, successor trustee of such Holder’s inter vivos trust or the person who acquired the right to the CVR
by reason of such death shall succeed to such Holder’s rights with respect to the CVR. 
 “Person” has the
meaning given to it in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act. 
 “Purchaser” has the meaning set forth in the first recital. 

“Redemption Date” means the date that the Redemption Price is paid by the Company to the Holders, which date shall be
established pursuant to Section 2.5. 
 “Redemption Price” has the meaning set forth in Section 2.5.

 “Registrar” shall have the meaning set forth in Section 2.3. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Surviving Person” has the meaning set forth in Section 5.1. 

“Stipulated Amount” means $178,000,000. 

  
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 ARTICLE II 
 CONTINGENT VALUE RIGHTS 
 Section 2.1 Holders of CVRs. 

Immediately prior to the Closing, existing shareholders of the Company as of September 6, 2011 will become the Holder of one CVR for
each share of Common Stock owned by such shareholder as of such date. 
 Section 2.2 Transferability; Attachment 

The CVRs shall not be subject, in whole or in part, to attachment, execution, or levy of any kind, and any attempt to sell, pledge,
assign, hypothecate, transfer or otherwise dispose of the CVRs or any interest therein, other than through a Permitted Transfer, shall be void ab initio. 
 Section 2.3 No Certificate; Registration; Change of Address. 
 (a) The
CVRs shall not be evidenced by a certificate or other instrument. 
 (b) The Company, or an agent appointed by the Company,
shall keep a register (the “CVR Register”) for the registration of CVRs. The Company is hereby initially appointed “CVR Registrar” for the purpose of registering CVRs and transfers of CVRs as herein provided. For
the avoidance of doubt, the Company shall be permitted, at its discretion, to appoint the transfer agent for the Company as CVR Registrar. 
 (c) A Holder may make a written request to the CVR Registrar to change such Holder’s address of record in the CVR Register. The written request must be duly executed by the Holder. Upon receipt of
such written notice, the CVR Registrar shall promptly record the change of address in the CVR Register. 
 (d) Upon the
occurrence of a Permitted Transfer, the recipient may make a written request to the CVR Registrar to record such transfer in the CVR Register. The written request must be accompanied by written evidence that the transfer qualifies as a Permitted
Transfer in such form as may be acceptable to the CVR Registrar and such other documentation as may be required by the CVR Registrar. Upon receipt of such written notice, the CVR Registrar shall promptly record the transfer in the CVR Register.

 Section 2.4 Payment Procedures. 
 (a) Promptly following the Maturity Date, but in no event later than thirty (30) days after such date, the Company shall appoint a paying agent (the “Paying Agent”) and deliver to
the Paying Agent a certificate (the “Payment Certificate”) setting forth (i) the amount of Credit Losses, on an aggregate and per-CVR basis, (ii) the calculation of the Payment Amount. The “Payment Amount”
shall be equal to: 
 (i) if the difference between the Stipulated Amount and the amount of Credit Losses
expressed on a per CVR basis (such difference, the “Loss Shortfall”) is less than or equal to $0.50 per CVR, then 100% of the Loss Shortfall; 

  
 - 4 -

 (ii) if the Loss Shortfall is greater than $0.50 per CVR, then $0.50 per CVR
plus 50% of the excess of the Loss Shortfall over $0.50 per CVR with a maximum of the Maximum Payment Amount; and 
 (iii) if the amount of Credit Losses equals or exceeds the Stipulated Amount, zero. 
 (b) All determinations with respect to the calculation of Credit Losses and the Payment Amount shall be made by the Loan Portfolio Committee of the Company’s Board of Directors in its sole
discretion, whose determinations shall be binding on the Company and the Holders. The Loan Portfolio Committee, in its sole discretion, may utilize a third party financial advisor to assist in verifying the amount of Credit Losses and the
calculation of the Payment Amount and may rely on a report of such financial advisor for purposes of making its determinations hereunder. 
 (c) Except as otherwise requested by any Holder, the Paying Agent shall promptly (and in no event later than five Business Days after its receipt thereof) send each Holder a copy of the Payment
Certificate at its registered address. 
 (d) If the Company delivers a Payment Certificate to the Paying Agent pursuant to
Section 2.4(a) above and the Payment Amount is greater than zero, the Company shall establish a Payment Date with respect to such Payment Amount that is no later than 60 days after the Maturity Date. At least 5 business days prior to such
Payment Date, the Company shall cause an amount in cash equal to the Payment Amount multiplied by the number of CVRs outstanding to be delivered to the Paying Agent, who will in turn, on the Payment Date, pay to each of the Holders an amount in cash
equal to the Payment Amount multiplied by the number of CVRs held by such Holder as reflected on the CVR Register by check mailed to the address of each Holder as reflected in the CVR Register as of the close of business on the last Business Day
prior to such Payment Date. Upon such payment, this Agreement shall terminate as provided in Section 6.10. 
 (e) The
Company shall be entitled to deduct and withhold, or cause to be deducted or withheld, from each Payment Amount otherwise payable pursuant to this Agreement, such amounts as it is required to deduct and withhold with respect to the making of such
payment under the Code, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld or paid over to or deposited with the relevant governmental entity, such withheld amounts shall be treated for all purposes of
this Agreement as having been paid to the Holder in respect of which such deduction and withholding was made. 
 Section 2.5 Redemption.

 (a) The Company may, at its option, at any time prior to the Maturity Date, redeem the CVRs, in whole or in part, at a
redemption price of $0.75 per CVR (the “Redemption Price”). The redemption of CVRs by the Board of Directors of the Company may be made effective at such time and with such conditions as the Board of Directors of the Company, in its
sole discretion, may establish. 

  
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 (b) From and after the date hereof but prior to the Maturity Date, in the event of a Change
of Control, the Company shall, upon the consummation of such Change of Control, redeem all of the CVRs at the Redemption Price. 

(c) Immediately upon the action of the Company ordering the redemption of CVRs pursuant to Section 2.5(a) or the consummation of the
Change of Control under Section 2.5(b), and without any further action and without any further notice, each CVR subject to redemption shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall
cease, except for the right to receive the Redemption Price. Within 10 days after such action or consummation, the Company shall mail, or cause to be mailed, a notice of redemption to each of the Holders of the then outstanding CVRs at such
Holders’ registered address. 
 (d) If the Company orders the redemption of the CVRs pursuant to Section 2.5(a) or
consummates a Change of Control under Section 2.5(b), the Company shall establish the date of such order or consummation as the Redemption Date. On or immediately following such Redemption Date, the Company shall appoint a Paying Agent and
cause an amount in cash equal to the Redemption Price multiplied by the number of CVRs outstanding to be delivered to the Paying Agent, who will in turn, as promptly as practicable, pay to each of the Holders an amount in cash equal to the
Redemption Price multiplied by the number of CVRs held by such Holder as reflected on the CVR Register by check mailed to the address of each Holder as reflected in the CVR Register as of the close of business on the last Business Day prior to such
Redemption Date. 
 (e) The Company shall be entitled to deduct and withhold, or cause to be deducted or withheld, from the
Redemption Price otherwise payable pursuant to this Agreement, such amounts as it is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or foreign tax law. To the extent that
amounts are so withheld or paid over to or deposited with the relevant governmental entity, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Holder in respect of which such deduction and
withholding was made 
 Section 2.6 No Voting, Dividends Or Interest; No Equity Or Ownership Interest In The Company. 

(a) The CVRs shall not have any voting or dividend rights, and interest shall not accrue on any amounts payable on the CVRs to any Holder.

 (b) The CVRs shall not represent any equity or ownership interest in, or confer any rights of any kind or nature whatsoever
as, a shareholder of the Company or any of its affiliates either at law or in equity. 

  
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 ARTICLE III 
 COVENANTS 
 Section 3.1 Payment of Payment Amount. 

The Company shall duly and promptly pay, or cause to be paid to, each Holder the applicable Payment Amount or Redemption Price, if any, in
the manner provided for in Sections 2.4 and 2.5 and in accordance with the terms of this Agreement. 
 ARTICLE IV

 AMENDMENTS 

Section 4.1 Amendments Without Consent of Holders. 
 (a) Without the consent of any Holders, the Company, when authorized by a Board Resolution, at any time and from time to time, may enter into one or more amendments hereto, for any of the following
purposes: 
 (i) subject to Section 5.1, to evidence the succession of another Person to the Company and the
assumption by any such successor of the covenants of the Company herein; or 
 (ii) to evidence the termination
of the CVR Registrar and the succession of another Person as a successor CVR Registrar and the assumption by any successor of the obligations of the CVR Registrar herein. 

(iii) to evidence the succession of another Person as a successor Paying Agent and the assumption by any successor of the
covenants and obligations of the Paying Agent herein; 
 (iv) to add to the covenants of the Company such further
covenants, restrictions, conditions or provisions as the Board of Directors shall consider to be for the protection of the Holders; provided, that in each case, such provisions shall not adversely affect the interests of the Holders in any
material respect; 
 (v) to cure any ambiguity, to correct or supplement any provision herein that may be
defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Agreement; provided, that in each case, such provisions shall not adversely affect the
interests of the Holders in any material respect; 
 (vi) as may be necessary or appropriate to ensure that the
CVRs are not subject to registration under the Securities Act or the Exchange Act; provided that such provisions shall not adversely affect the interests of the Holders in any material respect; or 

(vii) any other amendments hereto for the purpose of adding, eliminating or changing any provisions of this Agreement
unless such addition, elimination or change is adverse to the interests of the Holders in any material respect. 
 (b) Promptly
after the execution by the Company of any amendment pursuant to the provisions of this Section 4.1, the Company shall mail a notice thereof by first-class mail to the 

  
 - 7 -

 
Holders at their addresses as they shall appear on the CVR Register, setting forth in general terms the substance of such amendment. 
 Section 4.2 Amendments With Consent of Holders. 
 (a) Subject to
Section 4.1 (which amendments pursuant to Section 4.1 may be made without the consent of the Holders), with the consent of the Holders of not less than a majority of the outstanding CVRs, whether evidenced in writing or taken at a meeting
of the Holders, the Company, when authorized by a Board Resolution, may enter into one or more amendments hereto for the purpose of adding, eliminating or changing any provisions of this Agreement, even if such addition, elimination or change is in
any way adverse to the interest of the Holders. 
 (b) Promptly after the execution by the Company of any amendment pursuant to
the provisions of this Section 4.2, the Company shall mail a notice thereof by first-class mail to the Holders at their addresses as they shall appear on the CVR Register, setting forth in general terms the substance of such amendment.

 Section 4.3 Effect of Amendments. 
 Upon the execution of any amendment under this Article IV, this Agreement shall be modified in accordance therewith, such amendment shall form a part of this Agreement for all purposes and every Holder
shall be bound thereby. 
 ARTICLE V 
 CONSOLIDATION, MERGER, SALE OR CONVEYANCE 
 Section 5.1 Company May Consolidate,
Etc. 
 (a) The Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties
and assets substantially as an entirety to any Person, unless the Person formed by such consolidation or into which the Company is merged or the Person that acquires by conveyance or transfer, or that leases, the properties and assets of the Company
substantially as an entirety (the “Surviving Person”) shall expressly assume payment of amounts on all the CVRs and the performance of every duty and covenant of this Agreement on the part of the Company to be performed or observed.

 (b) For purposes of this Section 5.1, “convey, transfer or lease its properties and assets substantially as an
entirety” shall mean properties and assets contributing in the aggregate at least 80% of the Company’s total consolidated revenues as reported in the Company’s last available periodic financial report (quarterly or annual, as the case
may be). 
 Section 5.2 Successor Substituted. 
 Upon any consolidation of or merger by the Company with or into any other Person, or any conveyance, transfer or lease of the properties and assets substantially as an entirety to any Person in accordance
with Section 5.1, the Surviving Person shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Agreement with the same effect as if the Surviving Person had been named as the Company herein,
and thereafter, 

  
 - 8 -

 
except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Agreement and the CVRs. 

ARTICLE VI 

OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 6.1 Notices To The Company. 
 Any notice, request, instruction
or other document to be given hereunder by any party to another will be in writing and will be deemed to have been duly given (a) on the date of delivery if delivered personally or by telecopy or facsimile, upon confirmation of receipt,
(b) on the first business day following the date of dispatch if delivered by a recognized next-day courier service, or (c) on the third business day following the date of mailing if delivered by registered or certified mail, return receipt
requested, postage prepaid. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice 

 

	 	(a)	If to the Company or the Bank: 

Green Bankshares, Inc. 
 100 North Main Street 
 Greeneville, Tennessee 37743 

Attn: Stephen M. Rownd 
 Telephone: (423) 278-3323 
 Fax: (866) 550-2336 

with copies to (which copies alone shall not constitute notice): 

North American Financial Holdings, Inc. 
 4725 Piedmont Row Drive 
 Charlotte, North Carolina 28210 

Attn: Christopher G. Marshall 
 Telephone: 704-554-5901 
 Fax: 704-964-2442 

and 

Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 
 New York, New York 10019 

Attn: David E. Shapiro 
 Telephone: (212) 403-1000 
 Fax: (212) 403-2000 

  
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 Section 6.2 Notice To Holders. 

Where this Agreement provides for notice to Holders, such notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his, her or its address as it appears in the CVR Register, not later than the latest date, and not earlier than the earliest date, prescribed for the
giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other
Holders. 
 Section 6.3 Effect of Headings. 
 The Article and Section headings herein are for convenience only and shall not affect the construction hereof. 
 Section 6.4 Successors and Assigns. 
 All covenants and agreements in
this Agreement by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 6.5 Benefits of Agreement.

 Nothing in this Agreement, express or implied, shall give to any Person (other than the Company, the Holders and their
permitted successors and assigns hereunder) any benefit or any legal or equitable right, remedy or claim under this Agreement or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the
Company, the Holders and their permitted successors and assigns. 
 Section 6.6 Governing Law. 

This Agreement will be governed by and construed in accordance with the laws of the State of Tennessee applicable to contracts made and to
be performed entirely within such State. The Company irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the federal courts of the United States of America located in the State of Tennessee, or, if jurisdiction in
such federal courts is not available, the courts of the State of Tennessee, for any actions, suits or proceedings arising out of or relating to this Agreement and the transactions contemplated hereby. 

Section 6.7 Legal Holidays. 
 In the event that a Payment Date or Redemption Date shall not be a Business Day, then, notwithstanding any provision of this Agreement to the contrary, any payment required to be made in respect of the
CVRs on such date need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the applicable payment date. 
 Section 6.8 Severability Clause. 
 If any provision of this Agreement
or the application thereof to any person or circumstance is determined by a court of competent jurisdiction to be invalid, void or 

  
 - 10 -

 
unenforceable, the remaining provisions hereof, or the application of such provision to persons or circumstances other than those as to which it has been held invalid or unenforceable, will
remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon
such determination, the Company shall negotiate in good faith in an effort to agree upon a suitable and equitable substitute provision to effect the original intent of the Company. 
 Section 6.9 Counterparts. 
 This Agreement may be signed in any number
of counterparts (which may be effectively delivered by facsimile or other electronic means), each of which shall be deemed to constitute but one and the same instrument. 
 Section 6.10 Termination. 
 (a) This Agreement shall be terminated and
of no force or effect, and the Company shall have no liability hereunder, upon the earlier to occur of (a) the payment of the Payment Amount required to be paid under the terms of this Agreement, (b) if the Payment Certificate reflects a
Payment Amount of zero, the date such Payment Certificate is sent to Holders pursuant to Section 2.4(d), and (c) the payment of the Redemption Price pursuant to Section 2.5. 

(b) Notwithstanding any other provisions of this Agreement, any portion of the cash provided by the Company to the Paying Agent that
remains unclaimed two (2) years after termination of this Agreement in accordance with this Section 6.10 (or such earlier date immediately prior to such time as such amounts would otherwise escheat to, or become property of, any
governmental entity) shall, to the extent permitted by law, become the property of the Company free and clear of any claims or interest of any person previously entitled thereto. 
 Section 6.11 Entire Agreement. 
 This Agreement and the Investment
Agreement represent the entire understanding of the Company with reference to the transactions and matters contemplated hereby and thereby and this Agreement supersedes any and all other oral or written agreements hereto made except for the
Investment Agreement. If and to the extent that any provision of this Agreement is inconsistent or conflicts with the Investment Agreement, this Agreement shall govern and be controlling. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its
behalf by its duly authorized officers as of the day and year first above written. 
  

			
	GREEN BANKSHARES, INC.
		
	By:	 	 /s/ Stephen M. Rownd

	Name:	 	Stephen M. Rownd
	Title:	 	Chairman, President & CEO

 [Signature Page to CVR Agreement] 

 Schedule 1 
 Loans Outstanding as of May 5, 2011

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