Document:

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                                                                    EXHIBIT 10.7

                                OLD FLORIDA BANK
                        INCENTIVE STOCK OPTION AGREEMENT

         THIS AGREEMENT (hereinafter "Agreement") is entered into effective as
of the   day of   , 2002 (the "Grant Date"), by and between Old Florida Bank, a
Florida banking corporation (hereinafter "Bank"), and   ,currently serving as an
officer or employee of the Bank (the "Bank") (hereinafter "Optionee").

                                   WITNESSETH:

         WHEREAS, Optionee is a valuable and trusted officer or employee of the
Bank, and the Bank considers it desirable and in the best interest that options
to purchase the Bank's common stock be given to the Optionee as inducement to
acquire an initial or further proprietary interest in the Bank; and

         WHEREAS, the Bank desires to encourage, motivate, retain and attract
highly competent individuals such as Optionee, upon whose judgement, initiative,
leadership and continued efforts the success of the Bank in large measure
depends; and

         WHEREAS, the granting of options to purchase common stock of the Bank
hereunder is in accordance with Old Florida Bank Officers and Employees' Stock
Option Plan, and as the same may be amended from time to time.

         NOW, THEREFORE, in consideration of the premises and of the mutual
covenants herein contained, the parties hereto agree as follows:

                                    ARTICLE I

                                   Definitions

         As used in this Agreement, all term is which are defined in the Old
Florida Bank Officers' and Employees' Stock Option Plan, as the same may from
time to time be amended (the "Plan"), shall have the meanings specified in the
Plan, unless otherwise specifically defined herein.

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                                   ARTICLE II

                                 Effective Date

         2.1      Effective Date. The effective date of this Agreement shall
be the Grant Date. For purposes of this Agreement, the term "Option" shall mean
the option to purchase Stock granted to the Optionee pursuant to the Plan.

                                   ARTICLE III

                        Shares of Stock Subject to Option

         3.1      Number of Shares. Subject to adjustment pursuant to the
provisions of Section 3.3 hereof, the Optionee may purchase up to ____
hundred (_00) shares of Stock hereunder, which shall be issued and sold by the
Bank only upon exercise (in accordance with Section 4.2(b) of this Agreement) of
the Option granted pursuant to Section 4.1 of this Agreement.

         3.2      Shares Issued Pursuant to this Agreement. Shares of Stock with
respect to which the Option granted hereunder shall have been exercised shall
not again be available for Option hereunder.

         3.3      Stock Adjustments; Mergers and Combinations. Notwithstanding
any other provision in this Agreement, if the outstanding shares of Stock are
increased or decreased or changed into or exchanged for a different number or
kind of shares or other securities of the Bank or of any other corporation by
reason of any merger, sale of stock, consolidation, liquidation,
recapitalization, reclassification, stock split up, combination of shares, or
stock dividend, the total number of shares subject to Option pursuant to this
Agreement shall be proportionately and appropriately adjusted by the Stock
Option Committee. If the Bank continues in existence, the number and kind of
shares that are subject to any Option and the Option Price per share shall be
proportionately and appropriately adjusted without any change in the aggregate
price to be paid therefor upon exercise of the Option. If the Bank will not
remain in existence or a majority of its stock will be purchased or acquired by
a single purchaser or group of purchasers acting together, then the Stock Option
Committee may (i) declare that all Options shall terminate 30 days after the
Stock Option Committee gives written notice to all Optionees of their immediate
right to exercise all Options then outstanding (without regard to limitations on
exercise otherwise contained in the Options), or (ii) notify all Optionees that
all Options granted under the Plan shall apply with appropriate adjustments as
determined by the Stock Option Committee to the securities of the successor
corporation to which holders of the numbers of shares subject to such Options
would have been entitled, or (iii) some combination of aspects of (i) and (ii).
The determination by the Stock Option Committee as to the terms of any of the
foregoing adjustments shall be conclusive and binding.

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         3.4      Acceleration of Option Exercise. Subject to Section 3.3, upon
dissolution or liquidation of the Bank, any merger or combination in which the
Bank is not a surviving corporation, or sale of substantially all of the assets
of the Bank is involved, or upon any Change of Control, the Optionee shall have
the right to exercise the Option thereafter in whole or in part, notwithstanding
the provisions of Section 4.2(b) hereof and the provisions of Section 5.3 of the
Plan, to the extent that the Option shall not have been exercised prior thereto.

                                   ARTICLE IV

                                     Option

         4.1      Grant of the Option. As of the Grant Date, the Optionee is
hereby granted an Option to purchase   hundred ( 00) shares of Stock, subject to
adjustment pursuant to the provisions of Section 3.3 hereof. The Option granted
hereunder is intended to be an Incentive Stock Option.

         4.2      (a)      Terms of Option. The Option shall expire on the tenth
                           anniversary of the Grant Date. The Option Price of
                           each share of Stock subject to the Option shall be
                                 dollars and   cents ($ .00) per share, subject
                           to adjustment pursuant to the provisions of
                           Section 3.3 hereof.

                  (b)      Option Exercise. The Option may be exercised in whole
                           or in part from time to time with respect to whole
                           shares only, within the period permitted for the
                           exercise thereof. The Option shall become exercisable
                           in the following manner:

                           (i)      During the first year after the Grant Date,
                                    no portion of the Option shall be
                                    exercisable;

                           (ii)     During the second year after the Grant Date,
                                    such Option shall be exercisable only to the
                                    extent of thirty-three percent (33%) of the
                                    shares covered by such Option;

                           (iii)    During the third year after the Grant Date,
                                    such Option shall be exercisable only to the
                                    extent of sixty-six percent (66%) of the
                                    shares covered by such Option; and

                           (iv)     During the fourth and each succeeding year
                                    after the Grant Date, such Option shall be
                                    exercisable as to all shares covered by such
                                    Option.

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                  Notwithstanding any other provision in this Agreement, the
                  Option may not be exercised after the expiration of ten (10)
                  years from its Grant Date. The Option shall be exercised by:
                  (A) written notice of intent to exercise the Option with
                  respect to a specific number of shares of Stock, which is
                  delivered by hand delivery or registered or certified mail,
                  return receipt requested, to the Bank at its principal office,
                  Attention: Corporate Secretary; and (B) payment in full (by a
                  check or money order payable to "Old Florida Bank") to the
                  Bank at such office of the amount of the Option Price for the
                  number of shares of Stock with respect to which the Option is
                  then being exercised. Each such notice of exercise shall be
                  accompanied by any documents required by the Bank under
                  Section 4.6 hereof. In addition to and at the time of payment
                  of the Option Price, the Optionee shall pay to the Bank in
                  cash the full amount of all federal, state, and local
                  withholding or other employment taxes, if any, applicable to
                  the taxable income of the Optionee resulting from such
                  exercise, and any sales, transfer, or similar taxes imposed
                  with respect to the issuance or transfer of shares of Stock in
                  connection with such exercise.

         4.3      Nontransferability of Option. No Option shall be transferred
by the Optionee otherwise than by will or the laws of descent and distribution.
During the lifetime of the Optionee, the Option shall be exercisable only by him
or by his legal guardian or personal representative.

         4.4      Effect of Death, Disability, Retirement, or Other Termination
of Service.

                  (a)      If the Optionee's Service with the Bank shall be
                           terminated for "cause," as defined in Section 4.4(b)
                           hereof, then no Option held by the Optionee, which is
                           unexercised in whole or in part, may be exercised on
                           or after the date on which the Optionee is first
                           notified in writing by the Bank of such termination
                           for cause.

                  (b)      For the purposes of this Section 4.4, termination for
                           "cause" shall mean termination for the Optionee's
                           personal dishonesty, incompetence, willful
                           misconduct, breach of fiduciary duty involving
                           personal profit, violation of any law, rule, or
                           regulation (other than traffic violations or similar
                           offenses), violation of any agreement or order with
                           any bank regulatory agency, or failure by the
                           Optionee to perform his stated duties.

                  (c)      If the Optionee's Service with the Bank shall be
                           terminated for any reason other than for cause (as
                           defined in Section 4.4(b) hereof) and other than the
                           retirement at age sixty-five (65) or the disability
                           (as defined in Section 4.4(e) hereof) or death of the
                           Optionee, then no unexercised portion of the Option
                           may be exercised on or after such termination of
                           Services.

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                  (d)      If the Optionee's Service with the Bank shall be
                           terminated by reason of retirement after age
                           sixty-five (65) or death or disability (as defined in
                           the Plan) or death of the Optionee, then the Optionee
                           or personal representative or administrator of the
                           estate of the Optionee or the person or persons to
                           whom the Option granted hereunder shall have been
                           validly transferred by the personal representative or
                           administrator pursuant to the Optionee's will or the
                           laws of descent and distribution, as the case may be,
                           shall have the right to exercise the Optionee's
                           Option for ninety (90) days after the date of such
                           termination, but only to the extent that the Option
                           were exercisable at the date of such termination.

                  (e)      For purposes of this Section 4.4, the terms
                           "disability" and "disabled" shall have the meaning
                           set forth in the principal disability insurance
                           policy or similar program then maintained by the Bank
                           on behalf of its employees or, if no such policy or
                           program is then in existence, the meaning then used
                           by the United States Government in determining
                           persons eligible to receive disability payments under
                           the social security system of the United States.

                  (f)      No transfer of the Option by the Optionee by will or
                           by the laws of descent and distribution shall be
                           effective to bind the Bank unless the Bank shall have
                           been furnished with written notice thereof and an
                           authenticated copy of the will and/or such other
                           evidence as the Bank may deem necessary to establish
                           the validity of the transfer and the acceptance by
                           the transferee or transferees of the terms and
                           conditions of the Option.

         4.5      Rights as Shareholder. The Optionee or a transferee of the
Option shall have no rights as a shareholder with respect to any shares of Stock
subject to the Option prior to the purchase of such shares by exercise of the
Option as provided herein.

         4.6      Optionees's Intent as to Stock Acquired by Exercise of Option.
The Optionee agrees that, upon or prior to the exercise of all or any portion of
the Option, the Optionee shall furnish to the Bank in writing such information
or assurances as, in the Bank's opinion, may be necessary to enable it to comply
fully with the Securities Act of 1933, as amended, and the rules and regulations
thereunder and any other applicable statutes, rules, and regulations. Without
limiting the foregoing, if a registration statement is not in effect under the
Securities Act of 1933, as amended, with respect to the shares of Stock to be
issued upon exercise of the Option, the Optionee further agrees that the Bank
shall have the right to require, as a condition to the exercise of the Option,
that the Optionee represent to the Bank in writing that the shares to be
received upon exercise of the Option will be acquired by the Optionee for
investment and not with a view to distribution and that the Optionee agree, in
writing, that such shares will not be disposed of except pursuant to an
effective registration statement, unless the Bank shall have received an opinion
of counsel reasonably acceptable to it to the effect that such disposition is
exempt from the registration requirements of the Securities Act of 1933, as
amended.

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The Optionee understands and agrees that the Bank shall have the right to
endorse on certificates representing shares of Stock issued upon exercise of the
Option such legends referring to the foregoing representations and restrictions
or any other applicable restrictions on resale or disposition as the Bank, in
its discretion, shall deem appropriate.

                                    ARTICLE V

                       Incentive Stock Option Restrictions

         5.1      Additional Restrictions and Limitations on the Option:
General. The Option granted pursuant to this Agreement shall, in order to
qualify under the Code as an Incentive Stock Option, comply with all of the
restrictions and limitations set forth in the Code and Article VI of the Plan,
as the same may from time to time be amended, and this Article V. If the Option
does not fulfill all of the provisions of this Article V, then the Option shall
not be an Incentive Stock Option but rather shall be a Nonstatutory Stock
Option.

         5.2      Restrictions on Disposition of Stock Acquired by Exercise of
Option: Requirement that Optionee be an Employee. The Optionee understands and
agrees that, in order for the Optionee to receive favorable tax treatment under
the Code with respect to the transfer of a share of Stock to him pursuant to his
exercise of the Option:

         (a) The Optionee may not dispose of such share of Stock (acquired by
             the Optionee pursuant to his exercise of the Option) (i) within two
             (2) years from the Grant Date, or (ii) within one (1) year of the
             transfer of such share of Stock to the Optionee pursuant to his
             exercise of the Option; and

         (b) At all times during the period beginning on the Grant Date and
             ending on the day three (3) months before the Optionee's exercise
             of the Option, the Optionee must have been an "employee," as that
             term is defined in the Code, of the Bank or of such other
             corporation as is described in the Code.

         The foregoing provisions of this Section 5.2 do not apply to the
exercise of the Option, after the death of the Optionee, by the personal
representative or administrator of his estate or the person or persons to whom
the Option granted hereunder shall have been validly transferred by the personal
representative or administrator pursuant to the Optionee's will or the laws of
descent and distribution. In such case, the deceased Optionee must have been an
"employee" (as defined in the Code) of the Bank or of such other corporation as
is described in the Code, either at death or within three (3) months before
death.

         5.3      Additional Terms Relating to the Option.  If the Optionee,
at the Grant Date, owns stock possessing more than ten percent (10%) of the
total combined voting power of all classes of stock of the Bank, then,
notwithstanding any other provisions hereof: (A) the Option

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Price shall be at least one hundred and ten percent (110%) of the fair market
value of the Stock; and (B) the Option shall not be exercisable after the
expiration of five (5) years from its Grant Date.

         5.4      Special Rule Regarding Exercisability. If, for any reason, the
Option shall exceed the limitation on exercisability contained in the Code at
any time, the Option shall nevertheless be exercisable, but: (A) any exercise of
the Option shall be deemed to be an exercise of an Incentive Stock Option first
until the portion of the Option qualifying as an Incentive Stock Option shall
have been exercised in full; and (B) the portion of the Option in excess of the
foregoing limitation on exercisability shall be deemed to be a Nonstatutory
Stock Option.

                                   ARTICLE VI

                               Stock Certificates

         The Bank shall not be required to issue or deliver any certificate for
shares of Stock purchased upon the exercise of the Option granted hereunder or
any portion thereof, prior to fulfillment of all of the following conditions:

         (a)      The admission of such shares to listing on all stock exchanges
                  on which the Stock is then listed, if any;

         (b)      The completion of any registration or other qualification of
                  such shares under any federal or state law or under the
                  rulings or regulations of the Securities and Exchange
                  Commission or any other governmental regulatory agency, which
                  the Bank shall in its sole discretion determine to be
                  necessary or advisable;

         (c)      The obtaining of any approval or other clearance from any
                  federal or state governmental agency which the Bank shall in
                  its sole discretion determine to be necessary or advisable;
                  and

         (d)      The lapse of such reasonable period of time following the
                  exercise of the Option as the Bank from time to time may
                  establish for reasons of administrative convenience.

                                   ARTICLE VII

                Termination, Amendment, and Modification of Plan

         The Board may at any time terminate, and may at any time and from time
to time and in any respect amend or modify, the Plan; provided, however, that no
such action of the Board without approval of the shareholders of the Bank may
increase the total number of shares of Stock subject to the Plan except as
contemplated in Section 4.3 of the Plan or alter the class of

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persons eligible to receive Options under the Plan, and provided further that no
termination, amendment, or modification of the Plan shall without the written
consent of the Optionee adversely affect the rights of the Optionee with respect
to the Option granted hereunder or the unexercised portion thereof.

                                  ARTICLE VIII

                                  Miscellaneous

         8.1      Service. Nothing in this Agreement or the Option shall confer
upon Optionee the right to continue in the Service of the Bank.

         8.2      Other Compensation Plans. The adoption of the Plan and the
execution of this Agreement shall not affect any other stock option or incentive
or other compensation plans in effect for the Bank, nor shall the Plan or this
Agreement preclude the Bank from establishing any other forms of incentive or
other compensation for directors, officers, or employees of the Bank.

         8.3      Agreement Binding on Successors. This Agreement shall be
binding upon the successors and assigns of the Bank and the Optionee.

         8.4      Singular, Plural; Gender. Whenever used herein, nouns in the
singular shall include the plural, and the masculine pronoun shall include the
feminine gender.

         8.5      Applicable Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Florida.

         8.6      Headings. Headings of Articles and Sections hereof are
inserted for convenience and reference only; they constitute no part of this
Agreement.

         8.7      Severability. If any provision or provisions of this Agreement
shall be held to be invalid, illegal, or unenforceable, the validity, legality,
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

         8.8      Notices. Unless otherwise specified herein, notices required
or permitted to be given hereunder shall be in writing and shall be mailed by
registered or certified mail, return receipt requested, to the principal office
of the Bank, Attention: Corporate Secretary (if notice is to the Bank) and to
the Optionee at the Optionee's address set forth below (if notice is to the
Optionee), or to such other person or such other address as any such party may
designate by like notice to the other party, and shall be deemed given as of the
date and time received.

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         8.9      Counterparts. This Agreement may be executed in any number of
counterparts, each of which, when so executed, shall be considered an original,
and all of which together shall constitute one and the same instrument.

         IN WITNESS WHEREOF, the parties hereto have set forth their hands and
seals.

                                     OLD FLORIDA BANKSHARES, INC.

                                     By:
                                        ------------------------------------
                                     Larry W. Johnson, President & CEO

                                     OPTIONEE

                                     ---------------------------------------
                                     Name:
                                     Address:

                                       9<PAGE>
                                                                    EXHIBIT 10.8

                              EMPLOYMENT AGREEMENT

This Employment Agreement (the "Agreement") is made as of this 17th day of
January, 2000, by and between Old Florida Bank (the "Bank"), and Larry W.
Johnson (the "Executive").

                                   WITNESSETH:

WHEREAS, the Bank desires to retain the services of and employ the Executive,
and the Executive desires to provide services to the Bank, pursuant to the terms
and conditions of this Agreement.

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

         1. Employment. Pursuant to the terms and conditions of this Agreement,
the Bank agrees to employ the Executive and the Executive agrees to render
services to the Bank as set forth herein.

         2. Position and Duties. During the term of this Agreement, the
Executive shall serve as President and Chief Executive Officer of the Bank, and
shall undertake such duties, consistent with such titles, as may be assigned to
him from time to time by the Board of Directors of the Bank (referred to as the
"Board"), including management of all Bank personnel, serving on Board
committees as appointed from time to time by the Board, keeping the Board
informed of industry and regulatory developments regarding the Bank,
coordinating with Bank personnel and third parties to the extent necessary to
further the profitability and business of the Bank, and assisting in keeping the
Bank in compliance with applicable laws and regulations. In performing his
duties pursuant to this Agreement, the Executive shall devote his full business
time, energy, skill and best efforts to promote the Bank and its business and
affairs; provided that, subject to Sections 10, 12 and 13 of this Agreement, the
Executive shall have the right to manage and pursue personal and family
interests, and make passive investments in securities, real estate, and other
assets, and also to participate in charitable and community activities and
organizations, so long as such activities do not adversely affect the
performance by Executive of his duties and obligations to the Bank.

         3. Term. The initial term of employment pursuant to this Agreement
shall be for a period of three years, commencing with the date hereof and
expiring (unless sooner terminated as otherwise provided in this Agreement or
unless otherwise renewed or extended as set forth herein) on the third
anniversary of this Agreement, which date, including any earlier date of
termination or any extended expiration date, shall be referred to as the
"Expiration Date". Subject to the provisions of Section 8 of this Agreement, the
term of this Agreement and the employment of the Executive by the Bank hereunder
shall be deemed automatically renewed for successive periods of one year
commencing on the third anniversary date of this Agreement, unless either party
gives the other written notice, at least 180 days prior to the end of the then
term of the Agreement. After termination of the employment of the Executive for
any reason whatsoever, the Executive shall continue to be subject to the
provisions of Sections 10 through 17, inclusive, of this Agreement; provided,
however, that the Executive shall not be subject to

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the provisions of Sections 12 or 13 where the employment of the Executive is
terminated by the Executive for Good Reason (as defined in Section 8) or
pursuant to Sections 8(e) or 8(f), or where the term of employment is not
renewed pursuant to this Section 3.

         4. Compensation. During the term of this Agreement, the Bank shall pay
or provide to the Executive as compensation for the services of the Executive
set forth in Section 2 hereof:

            (a) A base annual salary of at least $120,000 for the year 2000,
$132,000 for the year 2001 and $145,200 for the year 2002 payable in such
periodic installments consistent with other employees of the Bank (such base
salary to be subject to increase by the Board in its discretion); and

            (b) Such individual bonuses and other compensation to the Executive
as may be authorized by the Board from time to time.

         5. Benefits and Insurance. The Bank shall provide to the Executive such
medical, health, and life insurance as well as any other benefits as the Board
shall determine from time to time. At a minimum, the Executive shall be entitled
to (i) participate in all employee benefit plans offered to the Bank's employees
generally, and (ii) life insurance coverage (payable to such beneficiary as the
Executive may designate from time to time). The Executive also shall be entitled
to participate in any group disability plan maintained by the Bank, with the
Bank paying to the Executive his base annual salary during any waiting period
imposed by such plan for the receipt of disability benefits thereunder. The Bank
shall undertake to provide for its employees generally (including the Executive)
a retirement plan and a plan qualified under Section 401(k) of the Internal
Revenue Code of 1986, as amended. All benefits referred to herein shall be
provided at reasonable levels and within reasonable time after the commencement
of the Executive's employment pursuant to the terms of this Agreement.

         6. Vacation. The Executive may take up to four weeks of vacation time
at such periods during each year as the Board and the Executive shall determine
from time to time. The Executive shall be entitled to full compensation during
such vacation periods. Any unused vacation time shall not accrue from year to
year.

         7. Reimbursement of Expenses: Automobile Allowance. The Bank shall
reimburse the Executive for reasonable expenses incurred in connection with his
employment hereunder subject to guidelines issued from time to time by the Board
and upon submission of documentation in conformity with applicable requirements
of federal income tax laws and regulations supporting reimbursement of such
expenses. The Bank also shall provide to the Executive an automobile allowance
in an amount as shall be mutually agreed upon by the Executive and the Bank.

         8. Termination. The employment of the Executive may be terminated as
follows:

            (a) By the Bank, by action taken by its Board, at any time and
immediately upon written notice to the Executive if said discharge is for cause.
In the notice of termination furnished to the Executive under this Section 8(a),
the reason or reasons for said termination shall be given and, if no reason or
reasons are given for said termination, said termination shall

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be deemed to be without cause and therefore termination pursuant to Section
8(f). Any one or more of the following conditions shall be deemed to be grounds
for termination of the employment of the Executive for cause under this Section
8(a):

                           (i) If the Executive shall fail or refuse to comply
with the obligations required of him as set forth in this Agreement or comply
with the policies of the Bank established by the Board from time to time;
provided, however, that for the first two such failures or refusals, the
Executive shall be given written warnings (each providing at least a 30 day
period for an opportunity to cure), and the third failure or refusal shall be
grounds for termination for cause;

                           (ii) If the Executive shall have engaged in conduct
involving fraud, deceit, personal dishonesty, or breach of fiduciary duty
involving personal profit, which in any such case has adversely affected, or may
adversely affect, the business or reputation of the Bank;

                           (iii) If the Executive shall have willfully violated
any banking law or regulation, memorandum of understanding, cease and desist
order, or other agreement with any banking agency having jurisdiction over the
Bank;

                           (iv) If the Executive shall have become subject to
continuing intemperance in the use of alcohol or drugs which has adversely
affected, or may adversely affect, the business or reputation of the Bank; or

                           (v) If the Executive shall have filed, or had filed
against him, any petition under the federal bankruptcy laws or any state
insolvency laws.

                           In the event of termination for cause, the Bank shall
pay the Executive only salary, vacation, and bonus amounts accrued and unpaid as
of the effective date of termination,

         (b) By the Executive upon the lapse of 30 days following written notice
by the Executive to the Bank of termination of his employment hereunder for Good
Reason (as defined below), which notice shall reasonably describe the Good
Reason for which the Executive's employment is being terminated; provided,
however, that if the Good Reason specified in such notice is such that there is
a reasonable prospect that it can be cured with diligent effort within 30 days,
the Bank shall have a reasonable time (having regard for the nature of the Good
Reason) to cure such Good Reason, which time shall not in any event exceed 30
days from the date of such notice, and the Executive's employment shall continue
in effect during such reasonable time so long as the Bank makes diligent efforts
during such time to cure such Good Reason. If such Good Reason shall be cured by
the Bank during such reasonable time, the Executive's employment and the
obligations of the Bank hereunder shall not terminate as a result of the notice
which has been given with respect to such Good Reason. Cure of any Good Reason
with or without notice from the Executive shall not relieve the Bank from any
obligations to the Executive under this Agreement or otherwise and shall not
affect the Executive's rights upon the reoccurrence of the same, or the
occurrence of any other, Good Reason. For purposes of this Agreement, the term
"Good Reason" shall mean any material breach by the Bank of any

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<PAGE>

provision of this Agreement, any significant reduction, without the Executive's
prior written consent, in the duties, responsibilities, authority or title of
the Executive as an officer of the Bank, or if the Executive's employment is
terminated by the Bank for any reason other than cause.

                  If the Executive's employment is terminated by the Executive
for Good Reason, the Bank shall, for a period of the greater of one year after
said termination or until the expiration of this Agreement:

                           (i) continue to pay to the Executive the base annual
salary in effect under Section 4(a) on the date of said termination (or, if
greater, the highest annual salary in effect for the Executive within the 36
month period prior to said termination) plus an annual amount equal to any bonus
paid by the Bank to the Executive during the 12 month period prior to said
termination;

                           (ii) continue to provide for the benefit of the
Executive the life insurance benefits provided to the Executive prior to
termination; and

                           (iii) reimburse the Executive for continued coverage
in accordance with the Consolidated Omnibus Budget Reconciliation Act under the
Bank's medical insurance plan.

                  (c) By the Executive upon the lapse of 30 days following
written notice by the Executive to the Bank of his resignation from the Bank for
other than Good Reason; provided, however, that the Bank, in its discretion, may
cause such termination to be effective at any time during such 30-day period. If
the Executive's employment is terminated because of the Executive's resignation,
the Bank shall be obligated to pay to the Executive any salary, vacation, and
bonus amounts accrued and unpaid as of the effective date of such resignation.

                  (d) If the Executive's employment is terminated by the death
of the Executive, this Agreement shall automatically terminate, and the Bank
shall be obligated to pay to the Executive's estate any salary, vacation, and
bonus amounts accrued and unpaid at the date of death.

                  (e) If after a Change of Control and before the end of the
initial term (or, if applicable, the renewal term), the Executive's employment
is terminated, his duties are materially reduced, his base salary is reduced,
his employment is relocated more than 50 miles from the Bank's main office or
his participation in any employee benefit plan is materially reduced or
adversely affected, and the Executive does not consent to such change, then the
Executive shall be entitled to receive promptly thereafter an amount equal to
two times the average base annual salary plus annual bonus received by the
Executive during the three year period prior to such termination. The Employee
may voluntarily terminate his employment under this Agreement within twelve
months following a Change of Control, and the Employee shall thereupon be
entitled to receive the amounts described in the preceding sentence upon
effectiveness of such voluntary termination of employment. For purposes of this
Agreement, a Change of Control shall mean a merger or acquisition in which the
Bank is not the surviving

                                       4
<PAGE>

entity, or the acquisition by any individual or group of beneficial ownership of
more than 50% of the outstanding shares of Bank common stock (excluding any
transaction which results in the formation for the Bank of a bank holding
company owned by substantially all of the former shareholders of the Bank). The
term "group" and the concept of beneficial ownership shall have such meanings
ascribed thereto as set forth in the Securities Exchange Act of 1934, as amended
(the "1934 Act"), and the regulations and rules thereunder.

                  (f) By the Bank, by action taken by its Board, at any time if
said discharge is without cause. If the Executive's employment is terminated by
the Bank without cause, the Bank shall, for a period of the greater of one year
after said termination or until the expiration of this Agreement:

                           (i) continue to pay to the Executive the base annual
salary in effect under Section 4(a) on the date of said termination (or, if
greater, the highest annual salary in effect for the Executive within the 36
month period prior to said termination) plus an annual amount equal to any bonus
paid by the Bank to the Executive during the 12 month period prior to said
termination:

                           (ii) continue to provide for the benefit of the
Executive the life insurance benefits provided to the Executive prior to
termination; and

                           (iii) reimburse the Executive for continued coverage
in accordance with the Consolidated Omnibus Budget Reconciliation Act under the
Bank's medical insurance plan.

         9. Notice. All notices permitted or required to be given to either
party under this Notice. Agreement shall be in writing and shall be deemed to
have been given (a) in the case of delivery, when addressed to the other party
as set forth at the end of this Agreement and delivered to said address, (b) in
the case of mailing, three days after the same has been mailed by certified
mail, return receipt requested, and deposited postage prepaid in the U.S. Mails,
addressed to the other party at the address as set forth at the end of this
Agreement, and (c) in any other case, when actually received by the other party.
Either party may change the address at which said notice is to be given by
delivering notice of such to the other party to this Agreement in the manner set
forth herein.

         10. Confidential Matters. The Executive is aware and acknowledges that
the Executive shall have access to confidential information by virtue of his
employment. The Executive agrees that, during the period of time the Executive
is retained to provide services to the Bank, and thereafter subsequent to the
termination of Executive's services to the Bank for any reason whatsoever, the
Executive will not release or divulge any confidential information whatsoever
relating to the Bank or its business, to any other person or entity without the
prior written consent of the Bank. Confidential information does not include
information that is available to the public or which becomes available to the
public other than through a breach of this Agreement on the part of the
Executive. Also, the Executive shall not be precluded from disclosing
confidential information in furtherance of the performance of his services to
the Bank or to the extent required by any legal proceeding.

                                       5
<PAGE>

         11. Injunction Without Bond. In the event there is a breach or
threatened breach by the Executive of the provisions of Sections 10, 12, or 13,
the Bank shall be entitled to an injunction without bond to restrain such breach
or threatened breach, and the prevailing party in any such proceeding will be
entitled to reimbursement for all costs and expenses, including reasonable
attorneys' fees in connection therewith. Nothing herein shall be construed as
prohibiting the Bank from pursuing such other remedies available to it for any
such breach or threatened breach including recovery of damages from the
Executive.

         12. Noncompetition. The Executive agrees that during the period of time
the Executive is retained to provide services to the Bank, and thereafter for a
period of one year subsequent to the termination of Executive's services to the
Bank for any reason whatsoever (except where the employment of the Executive is
terminated by the Executive for Good Reason or pursuant to Sections 8(e) or
8(f), or where the term of employment is not renewed pursuant to Section 3),
Executive will not enter the employ of, or have any interest in, directly or
indirectly (either as executive, partner, director, officer, consultant,
principal, agent or employee), any other bank or financial institution or any
entity which either accepts deposits or makes loans (whether presently existing
or subsequently established) and which has an office located within a radius of
50 miles of any office of the Bank; provided, however, that the foregoing shall
not preclude any ownership by the Executive of an amount not to exceed 5% of the
equity securities of any entity which is subject to the periodic reporting
requirements of the 1934 Act and the shares of Bank common stock owned by the
Executive at the time of termination of employment.

         13. Nonsolicitation: Noninterference. The Executive agrees that during
the period of time the Executive is retained to provide services to the Bank,
and thereafter for a period of one year subsequent to the termination of
Executive's services to the Bank for any reason whatsoever (except where such
termination is by the Executive for Good Reason or pursuant to Sections 8(e) or
8(f), or where the term of employment is not renewed pursuant to Section 3), the
Executive will not (a) solicit for employment by Executive, or anyone else, or
employ any employee of the Bank or any person who was an employee of the Bank
within 12 months prior to such solicitation of employment; (b) induce, or
attempt to induce, any employee of the Bank to terminate such employee's
employment; (c) induce, or attempt to induce, anyone having a business
relationship with the Bank to terminate or curtail such relationship or, on
behalf of himself or anyone else, compete with the Bank; (d) knowingly make any
untrue statement concerning the Bank or its directors or officers to anyone; or
(e) permit anyone controlled by the Executive, or any person acting on behalf of
the Executive or anyone controlled by an employee of the Executive to do any of
the foregoing.

         14. Remedies. The Executive agrees that the restrictions set forth in
this Agreement are fair and reasonable. The covenants set forth in this
Agreement are not dependent covenants and any claim against the Bank, whether
arising out of this Agreement or any other agreement or contract between the
Bank and Executive, shall not be a defense to a claim against Executive for a
breach or alleged breach of any of the covenants of Executive contained in this
Agreement. It is expressly understood by and between the parties hereto that the
covenants contained in this Agreement shall be deemed to be a series of separate
covenants. The Executive understands and agrees that if any of the separate
covenants are judicially held invalid or unenforceable, such holding shall not
release him from his obligations under the remaining covenants of this

                                       6
<PAGE>

Agreement. If in any judicial proceedings, a court shall refuse to enforce any
or all of the separate covenants because taken together they are more extensive
(whether as to geographic area, duration, scope of business or otherwise) than
necessary to protect the business and goodwill of the Bank, it is expressly
understood and agreed between the parties hereto that those separate covenants
which, if eliminated or restricted, would permit the remaining separate
covenants or the restricted separate covenant to be enforced in such proceeding
shall, for the purposes of such proceeding, be eliminated from the provisions of
this Agreement or restriction, as the case may be.

         15. Invalid Provision. In the event any provision should be or become
invalid or unenforceable, such facts shall not affect the validity and
enforceability of any other provision of this Agreement. Similarly, if the scope
of any restriction or covenant contained herein should be or become too broad or
extensive to permit enforcement thereof to its full extent, then any such
restriction or covenant shall be enforced to the maximum extent permitted by
law, and Executive hereby consents and agrees that the scope of any such
restriction or covenant may be modified accordingly in any judicial proceeding
brought to enforce such restriction or covenant.

         16. Governing Law: Venue. This Agreement shall be construed in
accordance with and shall be governed by the laws of the State of Florida. The
sole and exclusive venue for any action arising out of this Agreement shall be a
federal or state court situated in Lee County, Florida, and the parties to this
Agreement agree to be subject to the personal jurisdiction of such Court and
that service on each party shall be valid if served by certified mail, return
receipt requested or hand delivery.

         17. Attorneys' Fees and Costs. In the event a dispute arises between
the parties under this Agreement and suit is instituted, the prevailing party
shall be entitled to recover his or its costs and attorneys' fees from the
nonprevailing party. As used herein, costs and attorneys' fees include any costs
and attorneys' fees in any appellate proceeding.

         18. No Third Party Beneficiary. This Agreement is solely between the
parties hereto, and no person not a party to this Agreement shall have any
rights hereunder, either as a third party beneficiary or otherwise. The rights
and obligations of the parties under this Agreement shall inure to the benefit
of and shall be binding upon their respective successors and legal
representatives.

         19. Effect on Other Agreements. This Agreement and the termination
thereof shall not affect any other agreement between the Executive and the Bank,
and the receipt by the Executive of benefits thereunder.

         20. Miscellaneous. The rights and duties of the parties hereunder are
personal and may not be assigned or delegated without the prior written consent
of the other party to this Agreement. The captions used herein are solely for
the convenience of the parties and are not used in construing this Agreement.
Time is of the essence of this Agreement and the performance by each party of
its or his duties and obligations hereunder.

                                       7
<PAGE>

         21. Complete Agreement. This Agreement constitutes the complete
agreement between the parties hereto and incorporates all prior discussions,
agreements and representations made in regard to the matters set forth herein.
This Agreement may not be amended, modified or changed except by a writing
signed by the party to be charged by said amendment, change or modification.

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

                                        OLD FLORIDA BANK

                                        By: /s/ Frank Galeana
                                           -------------------------------------
                                           Frank Galeana - Chairman

                                        "EXECUTIVE"

                                        /s/ Larry W. Johnson
                                        ----------------------------------------
                                        Larry W. Johnson
                                        12611 Allendale Circle
                                        Fort Myers, FL 33912

                                       8

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