Document:

Share Purchase Agreement

Exhibit 10.6 to Form 10-K

 

SHARE
PURCHASE AGREEMENT

BY
AND AMONG

UNITED
COMMUNITY BANKS, INC.,

a Georgia corporation,

UNITED
COMMUNITY BANK,

a Georgia bank,

BRINTECH,
INC.,

a Florida corporation,

HAROLD
BREWER,

a resident of the state of Florida,

AND

ROSS
WHIPPLE,

a resident of the state of Arkansas,

FOR
THE ACQUISITION

OF
ALL OF THE ISSUED

AND
OUTSTANDING CAPITAL STOCK OF

BRINTECH,
INC.,

a Florida corporation

DATED
AS OF SEPTEMBER 28, 2000

 

  
	
      TABLE OF CONTENTS

	 	Page
	PRELIMINARY STATEMENT	1
	ARTICLE
      I  THE STOCK ACQUISITION, RELATED MATTERS, AND RELATED

      AGREEMENTS	1
	
   

    	
  1.01

    	
  Sale and Transfer of the Purchased
  Shares

    	
  1

    
	 	1.02	 The Effective
  Time 	1
	 	1.03	 Purchase
  Price	1
	 	1.04	 Delivery, Exchange, and
  Payment
  	2
	 	1.05	 Fractional
  Shares  
  	2
	 	1.06	 Registration
  Rights
  	2
	ARTICLE II 
      REPRESENTATIONS
  AND WARRANTIES OF EACH SHAREHOLDER 	5
	 	2.01	 Representations and
  Warranties of Each
  Shareholder  
  	5
	 	2.02	 Investment
  Intentions   
  	5
	 	2.03	 Ownership and Status of
  the Purchased
  Shares
  	6
	 	2.04	 Power of the
  Shareholder; Approval of the Acquisition
  Transaction  
  	6
	 	2.05	 No Conflicts or
  Litigation
  	6
	 	2.06	 No
  Brokers
  	7
	 	2.07	 Preemptive and Other
  Rights;
  Waiver 
  	7
	 	2.08	 Pooling of
  Interests 
  	7
	ARTICLE III 
      REPRESENTATIONS
  AND WARRANTIES OF THE COMPANY AND BREWER 	7
	 	3.01
  	 Truthfulness of the
  Representations and Warranties by the Company and
  Brewer
  	7
	 	3.02	 Organization and
  Capitalization of
  Company 	7
	 	3.03	
  Qualification
  	7
	 	3.04	 Authorization;
  Enforceability; Absence of Conflicts; Required
  Consents
  	8
	 	3.05	 Charter Documents and
  Records; No
  Violation
  	9
	 	3.06	 No
  Defaults
  	9
	 	3.07	 Company
  Subsidiaries 
  	9
	 	3.08	 Capital Stock of the
  Company
  	9
	  	3.09	 Transactions in Capital
  Stock
  	9
	 	3.10
  	 Related Party
  Agreements
  	9
	 	3.11	
  Litigation 
  	9
	 	3.12	 Financial Statements;
  Disclosure
  	10
	 	3.13	 Compliance with
  Laws
  	10
	 	3.14	 Liabilities and
      Obligations	10
	 	3.15	 Proprietary
  Rights 
  	11
	 	3.16	
  Commitments
  	11
	 	3.17	
  Insurance
  	12
	 	3.18	 Employee
  Matters
  	12
	 	3.19	 Compliance with
      ERISA,
  Etc.
  	14

  

  -i-

 

	
      TABLE OF CONTENTS

      
      (continued)

	 	Page
	
   

    	3.20

    	
  Sale and Transfer of the Purchased
  Shares

    	
  16

    
	 	3.21	Absence of Changes	17
	 	3.22	Pooling of
      Interests	17
	ARTICLE IV 
      REPRESENTATIONS
  AND WARRANTIES OF UNITED AND UCB	18
	 	4.01
  	 Representations and
  Warranties of United and UCB  
  	18
		4.02	 Organization;
  Power 
  	18
		4.03	 Authorization;
  Enforceability; Absence of Conflicts; Required Consents	19
		4.04	 Capital Stock of
  United
  	20
		4.05	 Financial Statements of
  United 
  	20
		4.06	 Absence of Undisclosed
  Liabilities  
  	20
		4.07	 Securities
  Filings
  	20
		4.08	 Compliance with Laws;
  No
  Litigation
  	21
		4.09	 No
  Brokers
  	21
	ARTICLE V 
      COVENANTS
  EXTENDING TO THE EFFECTIVE TIME  	21
		5.01	 Access and Cooperation;
  Due
  Diligence
  	21
	 	5.02	 Conduct of Business
  Pending
  Closing
  	22
		5.03	 Prohibited
  Activities
  	22
		5.04	 No Shop; Release of
  Directors
  	23
		5.05	 Notification of Certain
  Matters
  	24
		5.06	 Supplemental
  Information 
  	24
	ARTICLE VI 
      THE CLOSING AND
  CONDITIONS TO CLOSING	24
		6.01
  	 The Closing and Certain
  Actions  
  	24
		6.02	 Conditions to the
  Obligations of Each Party at the
  Closing
  	25
		6.03	 Conditions to the
  Obligations of the Company and the
  Shareholders 
  	25
		6.04	 Conditions to the
  Obligations of UCB
  	26
	ARTICLE VII 
      COVENANTS
  FOLLOWING THE EFFECTIVE TIME 	28
	ARTICLE VIII 
      LIMITATIONS ON COMPETITION	28
		8.01
  	 Prohibited
  Activities
  	28
		8.02	
  Damages
  	29
		8.03	 Reasonable
  Restraint 
  	29
		8.04	 Severability;
  Reformation 
  	29
		8.05	 Independent
  Covenant 
  	29
		8.06	
  Materiality
  	30
	ARTICLE IX 
      GENERAL PROVISIONS 	30
		9.01
  	 Restrictions on
  Transfer of United Common
  Stock
  	30
		9.02	 Brokers and
  Agents 
  	30
		9.03	 Assignment; No Third
  Party
  Beneficiaries 
  	31
		9.04	 Entire Agreement;
  Amendment;
  Waivers 
  	31
		9.05	
  Counterparts 
  	31
		9.06	
  Expenses
  	31

  -ii-

 

  
	
      TABLE OF CONTENTS

      
      (continued)

	 	Page
	
   

    	9.07

    	
  
  Notices
  

    	
  31

    
	
    	9.08
  
    	
   Governing
  Law 
  
    	
  32
    
	
    	9.09
    	
   Exercise of Rights and
  Remedies
  
    	
  32
    
	
    	9.10
    	
  
  Time 
  
    	
  33
    
	
    	9.11
    	
   Reformation and
  Severability 
  
    	
  33
    
	
    	9.12
    	
   Remedies
  Cumulative
  
    	
  33
    
	
    	9.13
    	
   Treatment of
  Confidential
  Information
  
    	
  33
    
	
    	9.14
    	
   Restriction on
  Trading 
  
    	
  34
    
	
  ARTICLE X  TERMINATION
    	
  34
    
	
    	10.01
  
    	
   Termination of this
  Agreement 
  
    	
  34
    
	
    	10.02
  
    	
   Liabilities in Event
  of
  Termination
  
    	
  35
    
	
  ARTICLE XI  DEFINITIONS 
    	
  35
    
	
    	11.01
  
    	
   Certain Defined
  Terms 
  
    	
  35
    
	
    	11.02
    	
   Other Definitional
  Provisions
  
    	
  41
    
	
    	11.03
    	
  
  Captions
  
    	
  42
    

  

   

   

   

  -iii-

 

 
	EXHIBITS	
		
  Exhibit
  A

    	
   Form of
  Opinion of Counsel to United and UCB

    
		
  Exhibit
  B

    	
  Form of
  Officer’s Certificate

    
		
  Exhibit
  C 

    	
  Form of
  Opinion of Company’s Counsel

    
		
  Exhibit
  D  

    	
  Form of
  Real Estate Purchase Agreement

    
	 		
	SCHEDULES	
		Schedule
  3.10	 Related
  Party Agreements
		Schedule
  3.15	
  Proprietary Rights
		Schedule
  3.16	
  Commitments
		Schedule
  3.17	
  Insurance
		Schedule
  3.18(a)	
  Employee Matters; Cash Compensation
		Schedule
  3.18(b)	
  Employee Matters; Engagement and Non-Competition Agreements
		Schedule
  3.18(c) 	
  Employee Matters: Other Compensation Plans
		Schedule
  3.18(d) 	
  Employee Matters; ERISA Benefit Plans
		Schedule
  3.18(h)	Employee Matters; Change of Control Benefits
		Schedule
  3.21	 Changes
  Since Balance Sheet Date
		Schedule
  4.07	
  Material Liabilities of UCB
		Schedule
  4.02 	 Conduct
  of Business Pending Closing:  Exceptions
		Schedule
  5.03	
  Prohibited Activities:  Exceptions for Activities Involving ERISA
  Employee Benefit Plans or Any Other Compensation Plan, or Employee Policies
  and Procedures

    

 

  SHARE PURCHASE AGREEMENT

  THIS SHARE PURCHASE AGREEMENT
  (the “Agreement”) is made as of September 28, 2000, by and among United
  Community Banks, Inc., a Georgia corporation (“United”), United
  Community Bank, a Georgia bank (“UCB”), Brintech, Inc., a
  Florida Corporation (the “Company”), Harold Brewer, a
  resident of the State of Florida (“Brewer”), and Ross Whipple,
  a resident of the State of Arkansas (“Whipple” and, collectively
  with Mr. Brewer, the “Shareholders”).

  PRELIMINARY
  STATEMENT

  The Shareholders own all of the
  issued and outstanding shares of common stock, no par value per share, of the
  Company (the “Company Capital Stock”).  The Company is a
  professional services firm with a specialty in bank information technology
  consulting (the “Business”).  United is a bank holding company
  and its subsidiary, UCB, is a Georgia bank.  The parties to this
  Agreement have determined that it is in their respective best interests to
  enter into this Agreement pursuant to which UCB will purchase, and each of the
  Shareholders will sell, pursuant to the terms of this Agreement, all of the
  capital stock of the Company to UCB (the “Stock Acquisition”) in
  exchange for common stock, par value $1.00 per share, of United (“United
  Common Stock”).

  The parties to this Agreement intend
  that the Stock Acquisition be deemed a reorganization within the provisions of
  Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”).

  NOW, THEREFORE, in
  consideration of the premises and the mutual agreements, representations, and
  undertakings contained herein, the parties hereto hereby agree as follows:

  ARTICLE I

  THE
  STOCK ACQUISITION, RELATED MATTERS,

  AND RELATED AGREEMENTS

  1.01         
  Sale and Transfer of the Purchased Shares.  Subject
  to the terms and conditions set forth herein, each Shareholder shall sell to
  UCB, and UCB shall purchase from such Shareholder, on the Closing Date, the
  number of shares set forth opposite the name of such Shareholder on the
  signature page hereto (the “Purchased Shares”).

  1.02         
  The Effective Time.  The effective time of the
  Stock Acquisition (the “Effective Time”) will be 10:00 a.m.,
  Eastern Standard Time, on the Closing Date or such other time as the parties
  may agree.

  1.03         
  Purchase Price.  In full consideration for the
  purchase by UCB of the Purchased Shares, United shall deliver to the
  Shareholders the number of shares of United Common Stock as shown on the
  signature page hereto, for a total of 283,390 shares (the “Acquisition
  Consideration”).

-1-

 

1.04         
Delivery, Exchange, and Payment. 
(a) 
  At the Closing each Shareholder shall deliver to UCB (or any agent that may be
  appointed by UCB for purposes of this Section) any and all certificates
  representing the Purchased Shares held by such Shareholder, and each
  Shareholder shall, subject to the provisions of this Article, be entitled to
  receive the Acquisition Consideration applicable to such shares.  At the
  Closing, or as soon as reasonably practicable thereafter, but in no event
  later than five business days after the Closing, UCB shall deliver the shares
  of United Common Stock representing the Acquisition Consideration to the
  Shareholders, subject to the provisions of this Article.  All shares of
  United Common Stock issuable in the Stock Acquisition will be deemed for all
  purposes to have been issued by United at the Effective Time.

(b)              
Each Shareholder will deliver to UCB (or any agent that may be
  appointed by UCB for purposes of this Section), on or before the Closing Date,
  the certificates representing the Purchased Shares owned by the Shareholder,
  duly endorsed in blank, or accompanied by duly executed stock powers in blank,
  and with all necessary transfer taxes and other revenue stamps, acquired at
  the Shareholders’ expense and affixed.  Each Shareholder shall cure any
  deficiencies in the endorsement of the certificates or other documents of
  conveyance respecting, or in the stock powers accompanying, the certificates
  representing the Purchased Shares delivered by the Shareholders, as may be
  requested by UCB.

(c)               
All dividends or other distributions declared or earned after
  the Effective Time with respect to United Common Stock and payable to the
  holders of record thereof after the Effective Time will be paid to the
  Shareholders irrespective of whether the shares of United Common Stock due to
  such Shareholders have been delivered thereto.  No interest will be
  payable with respect to any such dividends or other distributions on delivery
  of the outstanding certificates.

 1.05         
Fractional Shares.  Notwithstanding any other
  provision herein, no fractional shares of United Common Stock will be
  issued.  Any Shareholder who otherwise would be entitled hereunder to
  receive a fractional share of United Common Stock but for this Section will be
  entitled to receive, in lieu thereof, a cash payment for and in the amount
  (rounded up to the nearest whole cent) equal to that Shareholder’s
  fractional interest in a share of United Common Stock multiplied by $38.00 per
  share.

1.06         
Registration Rights

(a)               
Whenever United proposes to register any common stock for its
  own or others’ account under the Securities Act, other than a registration
  relating to employee benefit plans or a registration relating to Rule 145
  under the Securities Act of 1933, as amended (the “Securities Act”),
  United shall give each of the Shareholders prompt written notice of its intent
  to do so.  Upon the written request of any such Shareholder given within
  15 days after receipt of such notice, United will use its reasonable efforts
  to cause to be included in such registration all of the United Common Stock
  issued in connection with this Agreement (the “Registrable Shares”)
  that the Shareholders request to be registered.

(b)              
If such registration is an underwritten registration and the
  managing underwriter advises United that the total number of Registrable
  Shares requested to be included

-2-

 

in such registration exceeds the number of
  shares of United Common Stock that can be sold in such offering, United will
  include in such registration in the following priority: (i) first, all shares
  of United Common Stock United proposes to sell; and (ii) second, up to the
  full number of Registrable Shares requested to be included in such
  registration that, in the opinion of such managing underwriter, can be sold
  without adversely affecting the price range or probability of success of such
  offering, which shall be allocated among the Shareholders on a pro rata
  basis.  The pro rata amount will be calculated based on the total share
  ownership of the members of each group.

(c)               
Requirements of United.  In connection with the
  filing by United of a Registration Statement that covers Registrable Shares,
  United shall furnish to each Shareholder a copy of the prospectus, including a
  preliminary prospectus, in conformity with the requirements of the Securities
  Act.

  (1)              
  If United has delivered preliminary or final prospectuses to the
  Shareholders and after having done so the prospectus is amended or
  supplemented to comply with the requirements of the Securities Act, United
  shall promptly notify the Shareholders and, if requested by United, the
  Shareholders shall immediately cease making offers or sales of shares under
  the Registration Statement and return all prospectuses to United.  United
  shall promptly provide the Shareholders with revised or supplemented
  prospectuses and, following receipt of the revised or supplemented
  prospectuses, the Shareholders shall be free to resume making offers and sales
  under the Registration Statement.

  (2)              
  United shall pay the expenses incurred by it in complying with
  its obligations under this Section, including all registration and filing
  fees, exchange listing fees, fees, expenses of its counsel, and fees and
  expenses of its accountants.  The Shareholders shall pay their respective
  expenses incurred in selling their Shares, including attorneys fees and any
  brokerage fees, selling commissions, or underwriting discounts incurred by the
  Shareholders in connection with sales under the Registration Statement.

(d)              
Requirements of Shareholders.  United shall not be
  required to include any Registrable Shares in the Registration Statement
  unless:
  
(1)              
  the Shareholder owning such shares furnishes to United in
  writing such information regarding such Shareholder and the proposed sale of
  Registrable Shares  by such Shareholder as United may reasonably request
  in writing in connection with the Registration Statement or as shall be
  required in connection therewith by the Securities and Exchange Commission
  (the “SEC”) or any state securities law authorities;

  (2)              
  such Shareholder shall have provided to United its written
  agreement to report to United sales made pursuant to the Registration
  Statement.

(e)               
Indemnification.
  
(1)              
  Each of the Shareholders, severally and not jointly, agrees to
  indemnify United and each of its directors and officers against, and to hold
  United and each of its directors and officers harmless from, any losses,
  claims, damages, expenses, or liabilities (including reasonable attorneys
  fees) (collectively, “Damages”) to which United or such 

-3-

 

   directors
  and officers may become subject by reason of any statement or omission in the
  Registration Statement made in reliance upon, or in conformity with, a written
  statement relating to such Shareholder and furnished by such Shareholder
  expressly for use in the Registration Statement.

  (2)              
  United agrees to indemnify and hold harmless each Shareholder
  whose shares are included in the Registration Statement against any Damages to
  which such Shareholder may become subject by reason of any untrue statement or
  alleged untrue statement of a material fact contained in the Registration
  Statement or any omission to state therein a fact required to be stated
  therein or necessary to make the statements therein not misleading, except
  insofar as such Damages arose out of or were based upon information relating
  to such Shareholder furnished in writing to United by a Shareholder expressly
  for use in the Registration Statement.  United shall have the right to
  assume the defense and settlement of any claim or suit for which United may be
  responsible for indemnification under this Section.

  (3)              
  If the indemnification from the indemnifying party provided for
  in this section is found, pursuant to a final judicial determination not
  subject to appeal, to be unavailable to an indemnified party hereunder or
  insufficient in respect of any Damages incurred by such indemnified party,
  then each indemnifying party, in lieu of indemnifying such indemnified party,
  shall contribute to the Damages paid or payable by such indemnified party in
  such proportion as is appropriate to reflect the relative fault of the
  indemnifying party and the indemnified parties in connection with the actions
  or omissions that resulted in such Damages, as well as any other relevant
  equitable considerations.  The relative fault of such indemnifying party
  and indemnified parties shall be determined by reference to, among other
  things, whether any action or omission in question, including any untrue or
  alleged untrue statement of a material fact or the omission or alleged
  omission to state a material fact, has been made by, or relates to information
  supplied by, such indemnifying party or indemnified parties, and the parties’
  relative intent, knowledge, access to information and opportunity to correct
  or prevent such action.  The amount paid or payable by a party as a
  result of the Damages referred to above shall be deemed to include any legal
  or other expenses reasonably incurred by such party in connection with any
  investigation or proceeding.

  The parties hereto agree that it
  would not be just or equitable if contribution pursuant to this Section were
  determined by pro rata allocation or by any other method of allocation that
  does not take account of the equitable considerations referred to in the
  immediately preceding paragraph.  Notwithstanding the provisions of this
  Section, no shareholder shall be required to contribute any amount in excess
  of the amount by which the total net proceeds received by such shareholder
  with respect to the Shares sold by such shareholder exceeds the amount of any
  Damages which such shareholder has otherwise been required to pay by reason of
  such untrue statement or alleged untrue statement or omission or alleged
  omission.  Each Shareholder’s obligation to contribute pursuant to this
  Section is several and not joint and shall be determined by reference to the
  proportion that the proceeds of the offering received by such Shareholder
  bears to the total proceeds of the offering received by all the
  Shareholders.  No person guilty of fraudulent misrepresentation (within
  the meaning of Section 11(f) of the Securities Act) shall be entitled to
  contribution from any person who was not guilty of such fraudulent
  misrepresentation.  The remedies provided for in this Section are not
  exclusive and shall not limit any rights or remedies that may otherwise be
  available to any indemnified party at law or in equity.

-4-

 

  Notwithstanding
  the foregoing, if indemnification is available under paragraph (1) or (2) of
  this Section, the indemnifying parties shall indemnify each indemnified party
  to the full extent provided in such paragraphs without regard to the relative
  fault of said indemnifying party or indemnified party or any other equitable
  consideration provided for in this Section.

  (4)              
  Assignment of Rights.  A Shareholder may not assign
  any of its rights under this Section except in connection with the transfer of
  some or all of his, her or its Registrable Shares to a child or spouse, or
  trust for their benefit or, in the case of a partnership, to the partners of
  such partnership pursuant to a pro rata distribution, provided that
  each such transferee agrees in a written instrument delivered to the United to
  be bound by the provisions of this Section.

  

  ARTICLE II

REPRESENTATIONS
  AND WARRANTIES OF EACH SHAREHOLDER
 

2.01         
Representations and Warranties of Each Shareholder. 
  Each Shareholder represents and warrants to UCB that, as applied solely to
  such Shareholder, all of the representations and warranties made pursuant to
  this Agreement are, as of the date hereof, and as amended or supplemented,
  will be, on the Closing Date, true and correct, and do not and will not
  contain or omit any disclosure that has or will or could have a Material
  Adverse Effect on the Company or UCB.

2.02         
Investment Intentions.  (a)  Each
  Shareholder (i) will be acquiring the shares of United Common Stock to be
  issued pursuant to Article I to the Shareholder solely for such Shareholder’s
  account, for investment purposes only, and with no current intention or plan
  to distribute, sell, or otherwise dispose of any of those shares in connection
  with any distribution that is not made pursuant to a registration statement
  filed by United covering such shares or an applicable exemption under the
  Securities Act; (ii) is not a party to any agreement or other arrangement for
  the disposition of any shares of United Common Stock other than this
  Agreement; (iii) is an “accredited investor” as defined in Securities Act
  Rule 501(a); (iv) (A) is able to bear the economic risks of an investment in
  the United Common Stock acquired pursuant to this Agreement; (B) can afford to
  sustain a total loss of that investment; (C) has such knowledge and experience
  in financial and business matters that the Shareholder is capable of
  evaluating the merits and risks of the proposed investment in the United
  Common Stock; (D) has had an adequate opportunity to ask questions and receive
  answers from the officers of United concerning any and all matters relating to
  the transactions contemplated hereby, including the background and experience
  of the current and proposed officers and directors of United, the plans for
  the operations of the business of United, and the business, operations, and
  financial condition of United; (E) has asked all questions of the nature
  described in preceding clause (D), and all those questions have been answered
  to such Shareholder’s satisfaction; and (F) understands that,
  notwithstanding any other provisions of this Agreement, the Acquisition
  Consideration to be received pursuant to this Agreement is further restricted
  from transfer until the date upon which combined earnings for a period of at
  least 30 days are released as public information.

-5-

 

(b)              
The Shareholder has no present plan, intention, or arrangement
  to dispose of any of the United Common Stock received in the Acquisition
  Transaction if such disposition would reduce the fair value of the United
  Common Stock (with such value measured as of the Closing Date) retained by the
  Shareholder to an amount less than 50% of the fair value of the Company
  Capital Stock held by the Shareholder immediately before the consummation of
  the Acquisition Transaction.

2.03         
Ownership and Status of the Purchased Shares. 
  Each Shareholder is the record and beneficial owner of the number of Purchased
  Shares set forth opposite the Shareholder’s name on the signature page
  hereto, free and clear of all Liens.

2.04         
Power of the Shareholder; Approval of the Acquisition
  Transaction.  (a) Each Shareholder has the full power,
  legal capacity, and authority to execute and deliver this Agreement and each
  Transaction Document to which the Shareholder is a party and to perform the
  Shareholder’s obligations in this Agreement and in all Transaction Documents
  to which the Shareholder is a party.  This Agreement constitutes, and
  each such Transaction Document when executed in the Shareholder’s individual
  or legal capacity and delivered by the Shareholder will constitute, the legal,
  valid, and binding obligation of each respective Shareholder, enforceable
  against each Shareholder in accordance with its terms, except as that
  enforceability may be (i) limited by any applicable bankruptcy, insolvency,
  reorganization, moratorium, or similar laws affecting the enforcement of
  creditors’ rights generally and (ii) subject to general principles of equity
  (regardless of whether that enforceability is considered in a proceeding in
  equity or at law).

(b)              
The Shareholder has voted all the shares of Company Capital
  Stock owned by him in favor of entering into this Agreement and the
  consummation of the Stock Acquisition and the other transactions contemplated
  hereby.

2.05         
No Conflicts or Litigation.  The execution,
  delivery, and performance in accordance with their respective terms by the
  Shareholder of this Agreement and the Transaction Documents to which the
  Shareholder is a party do not and will not (a) violate or conflict with any
  Governmental Requirement, (b) breach or constitute a default under any
  agreement or instrument to which such Shareholder is a party or by which each
  Shareholder or any of the shares of Company Capital Stock owned by such
  Shareholder is bound, or (c) result in the creation or imposition of, or
  afford any Person the right to obtain, any Lien upon any of the shares of
  Company Capital Stock owned by such Shareholder.  No Litigation is
  pending or, to the knowledge of the Shareholder, threatened to which such
  Shareholder is or may become a party that (i) questions or involves the
  validity or enforceability of any of such Shareholder’s obligations under
  any Transaction Document or (ii) seeks (or reasonably may be expected to seek)
  (A) to prevent or delay the consummation by such Shareholder of the
  transactions contemplated by this Agreement to be consummated by such
  Shareholder or (B) Damages in connection with any consummation by such
  Shareholder of the transactions contemplated by this Agreement.

2.06         
No Brokers.  The Shareholder has not, directly
  or indirectly, in connection with this Agreement or the transactions
  contemplated hereby (a) employed any broker, finder, or agent or (b) agreed to
  pay or incurred any obligation to pay any broker’s or finder’s fee, any
  sales commission, or any similar form of compensation.

-6-

 

2.07         
Preemptive and Other Rights; Waiver.  Except for
  the rights of the Shareholder to receive shares of United Common Stock as a
  result of the Stock Acquisition, the Shareholder either (a) does not own or
  otherwise have any statutory or contractual preemptive or other right of any
  kind (including any right of first offer or refusal) to acquire any shares of
  Company Capital Stock or United Common Stock or (b) hereby irrevocably waives
  each right of that type the Shareholder does own or otherwise has.

2.08         
Pooling of Interests.  Each Shareholder, as to
  itself, makes the representation and warranty set forth in Section 3.22. 
  Each of the Shareholders agree, notwithstanding any other provisions of this
  Agreement, that the Acquisition Consideration to be received pursuant to this
  Agreement is further restricted from transfer until the date upon which
  combined earnings for a period of at least 30 days are released as public
  information.

ARTICLE III

REPRESENTATIONS
  AND WARRANTIES OF

  THE COMPANY AND BREWER
 

3.01         
Truthfulness of the Representations and Warranties by the
  Company and Brewer.  The Company and Brewer, jointly and
  severally, represent and warrant to UCB that all of the following
  representations and warranties in this Article are, as of the date of this
  Agreement, and as amended or supplemented pursuant to this Agreement, will be,
  on the Closing Date, true and correct, and do not and will not contain or omit
  any disclosure that has or will or could have a Material Adverse Effect on the
  Company or UCB.

3.02         
Organization and Capitalization of Company.  (a) 
  The Company (i) is a corporation duly organized, validly existing, and in good
  standing under the laws of Florida, (ii) has all requisite corporate power and
  authority under all applicable laws and its Articles of Incorporation and
  Bylaws, each as amended or restated to date, to own or lease and to operate
  its properties and to carry on its business as it is now conducted, and (iii)
  is duly qualified and in good standing as a foreign corporation in all
  jurisdictions in which it owns or leases property or in which the carrying on
  of its business as now conducted so requires, except where the failure to be
  so qualified, singularly or in the aggregate, would not have a Material
  Adverse Effect.

(b)              
The authorized, issued, and outstanding shares or depository
  receipts or other certificate representing any share of an equity ownership
  interest of the Company is as set forth on the Financial Statements, and,
  except as set forth therein, (i) no shares are held by the Company as treasury
  shares, and (ii) no outstanding equity or debt security or other Indebtedness
  that is convertible into, or exchangeable for, or any option, warrant, or
  other right to acquire common stock (“Derivative Securities”) or
  stock appreciation rights or similar plans of the Company exist.

3.03         
Qualification.  The Company is authorized or
  qualified to own, lease, or operate its properties, or to carry on its
  business where as now conducted, and the Company does not own, lease, or
  operate properties or carries on any business that is Material to the Company
  in any jurisdiction other than Florida.

-7-

 

  3.04          Authorization; Enforceability; Absence of Conflicts; Required
  Consents.  (a)  Except for approval by the Shareholders,
  the execution, delivery, and performance by the Company of this Agreement and
  each Transaction Document to which it is a party, and the consummation of the
  Stock Acquisition and the other transactions contemplated hereby and thereby,
  are within its corporate or other power under its Articles of Incorporation
  and Bylaws, each as amended or restated to date, and the applicable
  Governmental Requirements of Florida and have been duly authorized by all
  proceedings, including actions permitted to be taken in lieu of proceedings,
  as permitted under its Articles of Incorporation and Bylaws, each as amended
  or restated to date, and those Governmental Requirements.

(b)              
This Agreement has been, and each of the Transaction Documents
  to which the Company is a party, when executed and delivered to UCB will have
  been, duly executed and delivered by the Company and is, or when so executed
  and delivered will be, the legal, valid, and binding obligation of the
  Company, enforceable against the Company in accordance with its terms, except
  as that enforceability may be (i) limited by any applicable bankruptcy,
  insolvency, reorganization, moratorium, or similar laws affecting the
  enforcement of creditors’ rights generally and (ii) subject to general
  principles of equity (regardless of whether that enforceability is considered
  in a proceeding in equity or at law).

(c)               
The execution, delivery, and performance in accordance with
  their respective terms by the Company of the Transaction Documents to which it
  is a party does not and will not (i) violate, breach, or constitute a default
  under (A) the Articles of Incorporation and Bylaws, each as amended or
  restated to date, of the Company, (B) any Governmental Requirement applicable
  to the Company, or (C) any Material Agreement of the Company, (ii) result
  in the acceleration or mandatory prepayment of any Indebtedness, or any
  Guaranty not constituting Indebtedness, of the Company or afford any holder of
  any Indebtedness, or any beneficiary of any Guaranty, the right to require the
  Company to redeem, purchase, or otherwise acquire, reacquire, or repay any
  Indebtedness, or to perform any Guaranty, (iii) cause or result in the
  imposition of, or afford any Person the right to obtain, any Lien upon any
  property or assets of the Company (or upon revenues, income, or profits of the
  Company therefrom), or (iv) result in the revocation, cancellation,
  suspension, or material modification, in any single case or in the aggregate,
  of any Governmental Approval possessed by the Company at the date hereof and
  necessary for the ownership, lease, or operation of its properties or the
  uninterrupted carrying on of its business as now conducted, including any
  necessary Governmental Approval under each applicable Environmental Law.

   (d)              
  Except for (i) as may be required by state or federal banking
  laws or (ii) as may be required by applicable state securities or blue sky
  laws, no Governmental Approvals are required to be obtained, and no reports or
  notices to, or filings with, any Governmental Authority are required to be
  made by the Company for the execution, delivery, or performance by the Company
  of the Transaction Documents to which it is a party, the enforcement against
  the Company of its obligations thereunder, or the effectuation of the Stock
  Acquisition and the other transactions contemplated hereby and thereby.

-8-

 

  3.05         
  Charter Documents and Records; No Violation. 
  The Company has caused true, complete, and correct copies of the Articles of
  Incorporation and Bylaws, each as amended or restated to date and in effect on
  the date hereof, and the minute books and similar corporate or other records
  of the Company to be made available or otherwise made available to UCB. 
  No breach or violation of the Articles of Incorporation and Bylaws, each as
  amended or restated to date, of the Company has occurred and is continuing.

  3.06         
  No Defaults.  No condition or state of facts
  exists, or, with the giving of notice or the lapse of time or both, would
  exist, that (a) entitles any holder of any outstanding Indebtedness, or any
  Guaranty not constituting Indebtedness, of the Company, or a representative of
  that holder, to accelerate the maturity, or require a mandatory prepayment, of
  that Indebtedness or Guaranty, or affords that holder or its representative,
  or any beneficiary of that Guaranty, the right to require the Company to
  redeem, purchase, or otherwise acquire, reacquire, or repay any of that
  Indebtedness, or to perform that Guaranty in whole or in part, (b) entitles
  any Person to obtain any Lien (other than a Permitted Lien) upon any
  properties or assets of the Company (or upon revenues, income, or profits of
  any of the Company therefrom), or (c) constitutes a violation or breach of, or
  a default under, any Material Agreement of the Company by the Company.

  3.07         
  Company Subsidiaries.  The Company has no
  subsidiaries.

  3.08         
  Capital Stock of the Company.  All of the issued
  and outstanding shares of Capital Stock of the Company have been duly
  authorized and validly issued in accordance with the laws of the State of
  Florida and the Company’s Articles of Incorporation and Bylaws, each as
  amended or restated to date, and are fully paid and nonassessable.  The
  Company has not issued or sold any shares of outstanding Company Capital Stock
  in breach or violation of any applicable statutory or contractual preemptive
  rights or any rights of first offer or refusal of any Person or the terms of
  any of its Derivative Securities that were outstanding at the time of such
  issuance.  No Person has, other than solely by reason of that Person’s
  right, if any, to vote any of the shares of the Company Capital Stock (to the
  extent those shares afford the holder thereof any voting rights), any right to
  vote on any matter with the holders of Company Capital Stock.

  3.09         
  Transactions in Capital Stock.  (a)  The
  Company has no obligation (contingent or otherwise) to purchase, redeem, or
  otherwise acquire or reacquire any of its equity securities or any interests
  therein or to pay any dividend or make any distribution in respect thereof;
  and (b) no transaction has been effected since December 31, 1999, and no
  action in contemplation of the transactions described in this Agreement has
  been taken, respecting the equity ownership of the Company.

  3.10         
  Related Party Agreements.  Except for the
  Agreements listed on Schedule 3.10, each Related Party Agreement in
  effect on the date hereof will have been terminated as of the Closing Date.

  3.11         
  Litigation.  No Litigation is pending or, to the
  knowledge of the Company and Brewer, threatened to which the Company is or may
  become a party.

-9-

 

  3.12         
  Financial Statements; Disclosure.  (a)  The
  Financial Statements (including in each case the related schedules and notes)
  delivered to UCB present fairly, in all Material respects, the consolidated
  financial position of the Company at the respective dates of the balance
  sheets included therein, and the consolidated results of their operations and
  their consolidated cash flows and shareholders’ or other owners’ equity
  for the respective periods set forth therein and have been prepared in
  accordance with GAAP except that any unaudited Financial Statements so
  delivered need not contain footnotes required by GAAP or otherwise comply with
  GAAP as noted therein.  As of the date of any balance sheet included in
  those Financial Statements, the Company had no outstanding Indebtedness to any
  Person or any liabilities of any kind (including contingent obligations, tax
  assessments, or unusual forward or long-term commitments), or any unrealized
  or anticipated loss, that in the aggregate were Material to the Company other
  than those reflected in those Financial Statements or in the notes related
  thereto, and since June 30, 2000 (the “Balance Sheet Date”), no
  change has occurred in the business, operations, properties or assets,
  liabilities, condition (financial or other), results of operations, or
  prospects of the Company that could reasonably be expected, either alone or
  together with all other such changes, to have a Material Adverse Effect on the
  Company.

  (b)              
  (i)  As of the date hereof, all Information that has been
  made available to UCB by or on behalf of the Company prior to the date of this
  Agreement in connection with the transactions contemplated hereby is, taken
  together, true and correct in all Material respects and does not contain, to
  the knowledge of the Company or Brewer, any untrue statement of a Material
  fact or omit to state a Material fact necessary to make the statements
  contained therein not misleading in light of the circumstances under which
  those statements were made, except where the failure to do so would not have a
  Material Adverse Effect.

  (ii)        
  All Information that is made available to UCB by or on behalf of the Company
  after the date hereof from time to time prior to the Closing in connection
  with or pursuant to this Agreement or any Transaction Document will be, when
  made available and taken together, true and correct in all Material respects
  and will not contain any untrue statement of a Material fact or omit to state
  a Material fact necessary to make the statements contained therein not
  misleading in any Material respect in light of the circumstances under which
  those statements are made.

  
  3.13          Compliance with Laws.  To the knowledge of the
  Company and Brewer, (i) the Company possesses all necessary licenses, permits,
  and similar Governmental Approvals required for the conduct of its business;
  and (ii) the Company is in compliance in all Material respects with the terms
  and conditions of all Governmental Approvals necessary for the ownership or
  lease and the operation of its properties (including all the facilities and
  sites it owns or holds under any lease) and the carrying on of its business as
  now conducted.

  
  3.14          Liabilities and Obligations.

(a)               
The Financial Statements accurately list all present
  liabilities, of every kind, character, and description and whether accrued,
  absolute, fixed, contingent, or otherwise, of the Company and the Company
  Subsidiaries (i) that exceed $10,000 and (ii) that had been incurred prior to
  the Balance Sheet Date, but are not reflected on the unaudited balance sheet
  of the Company at the Balance Sheet Date.

-10-

 

3.15         
Proprietary Rights.  The Company owns or has the
  legal right to use all Proprietary Rights that are necessary to the conduct of
  its business as now conducted, in each case free of any claims or
  infringements known to the Company or Brewer.  Schedule 3.15
  accurately lists these Proprietary Rights and indicates those owned by the
  Company and, for those not listed as so owned, the agreement or other
  arrangement pursuant to which the Company is entitled to possess and use such
  Proprietary Rights.  No consent of any Person will be required for the
  use of any of these Proprietary Rights by UCB or the Company following the
  Effective Time, and no governmental registration of any of these Proprietary
  Rights has lapsed or expired or been canceled, abandoned, opposed, or the
  subject of any reexamination request.

3.16         
Commitments.    (a)  Except
  for the Agreements listed on Schedule 3.16, there are none of the
  following agreements (each a “Company Commitment”) to which the
  Company is a party or by which any of its properties are bound and that
  presently remain executory in whole or in any part:

(i)           
partnership, joint venture, or cost-sharing agreement;

(ii)           
  guaranty or suretyship, indemnification or contribution agreement, or
  performance bond;

  (iii)           
  instrument, agreement, or other obligation evidencing or relating to
  Indebtedness or to money lent or to be lent to another Person;

  (iv)           
  contract to purchase or sell real property or any Material personal property;

  (v)           
  agreement with dealers or sales or commission agents, public relations or
  advertising agencies, accountants, or attorneys (other than in connection with
  this Agreement and the transactions contemplated hereby) involving total
  payments within any 12-month period in excess of $10,000 and that is not
  terminable without penalty and on no more than 30 days’ prior notice;

  (vi)            Related
  Party Agreement involving total payments within any 12-month period in excess
  of $10,000 and that is not terminable without penalty on no more than 30 days’
  prior notice;

  (vii)           
  agreement for the acquisition or provision of services, supplies, equipment,
  inventory, fixtures, or other property involving more than $10,000 in the
  aggregate;

  (viii)           
  contract containing any noncompetition agreement, covenant, or undertaking;

  (ix)           
  agreement providing for the purchase from a supplier of all or substantially
  all the requirements of the Company of a particular product or service; or

  (x)            other
  agreement or commitment not made in the ordinary course of business, or that
  is Material to the Company, its Business, or assets.

-11-

 

  True, correct, and complete copies of
  all written Company Commitments, have heretofore been delivered or made
  available to UCB, and true, correct, and complete written descriptions of all
  oral Company Commitments have been delivered or made available to UCB.

   (b)              
  There are no existing or asserted defaults, events of default,
  or events, occurrences, acts, or omissions that, with the giving of notice or
  lapse of time or both, would constitute defaults or events of default by the
  Company or, to the knowledge of the Company or Brewer, any other party thereto
  under any Company Commitment; (ii) no penalties have been incurred, nor are
  there any amendments pending, with respect to any of the Company Commitments
  that are Material to the Company.  The Company Commitments are in full
  force and effect and are valid and enforceable obligations of the Company and,
  to the knowledge of the Company or Brewer, the other parties thereto in
  accordance with their respective terms; and (iii) no defenses, off-sets, or
  counterclaims have been asserted or, to the knowledge of the Company or
  Brewer, can be made by any party thereto (other than by the Company), nor has
  the Company waived any rights thereunder.

  (c)               
  Except as contemplated hereby or by any Transaction Document to
  which the Company or Shareholder is a party, (i) neither the Company nor any
  Shareholder has received notice of any plan or intention of any other party to
  any Company Commitment to exercise any right to cancel or terminate any
  Company Commitment, and neither the Company nor Brewer knows of any condition
  or state of facts that would justify the exercise of such a right; and (ii)
  neither the Company nor Brewer currently contemplates, or has reason to
  believe any other Person currently contemplates, any amendment or change to
  any Company Commitment.

  3.17         
  Insurance.  Schedule 3.17(a) sets forth a
  list of all insurance policies carried by the Company; and Schedule 3.17(b)
  sets forth an accurate list of all insurance loss runs and worker’s
  compensation claims received for the most recently ended three policy years to
  the extent reasonably available.  True, complete, and correct copies of
  all insurance policies carried by the Company that are presently in effect
  have been provided to UCB, and all such insurance policies have been issued by
  insurers of recognized responsibility and currently are, and will remain
  without interruption through the Closing Date, in full force and effect. 
  No insurance carried by the Company has been canceled by the insurer during
  the past five years, and the Company has never been denied insurance coverage
  in any regard or to any degree.  The Company or Shareholder has not
  received any notice or other communication from any issuer of any such
  insurance policy of any Material increase in any deductibles, retained
  amounts, or premiums payable thereunder, and, to the knowledge of the Company
  or Brewer, no such increase in deductibles, retainages, or premiums is
  threatened.

3.18         
Employee Matters.    (a)  Cash
  Compensation.  Schedule 3.18(a) accurately lists the
  names, titles, and rates of annual wages, salaries, bonuses (discretionary and
  formula), fees, and other cash compensation paid or payable by the Company
  (the “Cash Compensation”), at the Balance Sheet Date and at the
  date hereof (and the portions thereof attributable to salary or the
  equivalent, fixed bonuses, discretionary bonuses, and other Cash Compensation,
  respectively) of all employees (including all employees who are officers or
  directors), non-employee officers, nonemployee directors, and key consultants
  and independent contractors of the Company that

-12-

 

have been paid during the past
  fiscal year, or reasonably expect to be paid during the current fiscal year,
  aggregate compensation in excess of $50,000.

(b)              
Engagement and Non-Competition Agreements.  Schedule 3.18(b)
  accurately lists all Engagement and Non-Competition Agreements remaining
  executory in whole or in part on the date hereof, and the Company has provided
  UCB with true, complete, and correct copies of all such Engagement and
  Non-Competition Agreements.  The Company is not a party to any oral
  Engagement and Non-Competition Agreement with any Person.

(c)               
Other Compensation Plans.  Schedule 3.18(c)
  accurately lists all Other Compensation Plans either in effect at the date
  hereof or to become effective after the date hereof. The Company has provided
  UCB with a true, correct, and complete copy of each of those Other
  Compensation Plans that is in writing and an accurate description of each of
  those Other Compensation Plans that are oral.  Each of the Other
  Compensation Plans, may be unilaterally amended or terminated by the Company
  without liability to any of them, except as to benefits accrued thereunder
  prior to any such amendment or termination.

(d)              
ERISA Benefit Plans.  Schedule 3.18(d)
  accurately lists each “employee benefit plan” as defined in Section 3(3)
  of ERISA, excluding any Multi-employer Plan “ERISA Benefit Plan”
  maintained by, sponsored in whole or in part by, or contributed to by, the
  Company or any ERISA Affiliate currently, or at any time during the six-year
  period ending on the date hereof, under which employees, retirees, dependents,
  spouses, directors, independent contractors, or other beneficiaries are
  eligible to participate, including, but not limited to, all pension,
  retirement, profit sharing, deferred compensation, stock option, employee
  stock ownership, severance pay, vacation, bonus, or other incentive plans,
  medical, vision, dental or other health plans, life insurance plans, and all
  other employee benefit plans or fringe benefit plans.  Schedule
  3.18(d) classifies each of the ERISA Benefit Plans as an “employee
  pension benefit plan” as defined in Section 3(2) of ERISA, excluding a
  Multi-employer Plan “ERISA Pension Benefit Plan” or an “employee
  welfare benefit plan” as defined in Section 3(i) of ERISA (a “Welfare Plan”). 
  The Company has provided UCB with a true, correct, and complete copy of each
  ERISA Benefit Plan, all related trust agreements and amendments, actuarial
  reports and valuations for the most recent three years, summary plan
  descriptions, prospectuses, annual report form 5500s or similar forms (and
  attachments thereto) for the most recent three years, all Internal Revenue
  Service determination letters, and any related documents requested by UCB.

(e)               
Labor Compliance.  To the knowledge of the Company
  or Brewer, the Company has been and is in compliance with all applicable
  Governmental Requirements respecting employment and employment practices,
  terms and conditions of employment, and wages and hours, and the Company is
  not liable for any arrears of wages or penalties for failure to comply with
  any of the foregoing.  The Company has not engaged in any unfair labor
  practice or discriminated on the basis of race, color, religion, sex, sexual
  orientation, national origin, age, disability, or handicap in its employment
  conditions or practices.  There are no (i) unfair labor practice charges
  or complaints or racial, color, religious, sex, sexual orientation, national
  origin, age, disability, or handicap discrimination charges or complaints
  pending or, to the knowledge of the Company, threatened against the Company
  before any Governmental Authority (nor, to the knowledge of the Company or
  Brewer, does any valid basis therefor exist) or (ii) existing or, to the
  knowledge of the Company or Brewer, threatened labor strikes, disputes,
  grievances,

-13-

 

 controversies, or other labor troubles affecting the Company (nor,
  to the knowledge of the Company or Brewer, does any valid basis therefor
  exist).

(f)                
Unions.  Neither the Company nor an ERISA Affiliate
  has ever been a party to any agreement with any union, labor organization, or
  collective bargaining unit.  No employees of the Company are represented
  by any union, labor organization, or collective bargaining unit.  To the
  knowledge of the Company or Brewer, none of the employees of the Company has
  threatened to organize or join a union, labor organization, or collective
  bargaining unit.

(g)               
No Unauthorized Aliens.  All employees of the
  Company are citizens of, or are authorized in accordance with federal
  immigration laws to be employed in, the United States.

(h)               
Change of Control Benefits.  Except as disclosed on Schedule
  3.18(h), either the execution and delivery of this Agreement nor the
  consummation of the transactions contemplated hereby will (i) result in any
  payment (including, without limitation, severance, unemployment compensation,
  golden parachute, or otherwise) becoming due to any director or any employee
  from the Company under any ERISA Benefit Plan, Other Compensation Plan or
  otherwise, (ii) increase any benefits otherwise payable under any ERISA
  Benefit Plan or Other Compensation Plan, or (iii) result in any acceleration
  of the time of payment or vesting of any such benefit.  Neither the
  Company nor any ERISA Affiliate, is obligated, contingently or otherwise,
  under any agreement to pay any amount that would be treated as a “parachute
  payment,” as defined in Section 280G(b) of the Internal Revenue Code
  (determined without regard to Section 280G(b)(2)(A)(ii) of the Internal
  Revenue Code).

(i)                 
Retirees.  The Company has no any obligation or
  commitment to provide medical, dental, or life insurance benefits to or on
  behalf of any of its employees who may retire or any of its former employees
  who have retired, except as may be required pursuant to the continuation of
  coverage provisions of Section 4980B of the Code and the applicable parallel
  provisions of ERISA.

 3.19         
Compliance with ERISA, Etc.    (a)  Compliance. 
  Each of the ERISA Benefit Plans and Other Compensation Plans (i) is in
  Material compliance with all applicable provisions of ERISA, the Code, and all
  other applicable Governmental Requirements, (ii) has been administered,
  operated and managed in accordance with its governing documents, and (iii) has
  timely filed or distributed all reports and other documents required to be
  filed with any governmental agency or distributed to plan participants or
  beneficiaries (including annual reports, summary annual reports (form 5500s),
  summary plan descriptions, actuarial reports, PBGC-1 Forms, or returns).

(b)              
Qualification.  All ERISA Pension Benefit Plans that
  are intended to be qualified under Section 401(a) of the Code (the “Qualified
  Plans”) are so qualified and have received a favorable determination
  letter from the Internal Revenue Service (the “IRS”), and the
  Company and Brewer are not aware of any circumstances likely to result in the
  revocation of any such favorable determination letter.  To the extent
  that any Qualified Plans have not been amended to comply with applicable
  Governmental Requirements, the remedial amendment

-14-

 

 

period permitting
  retroactive amendment of these Qualified Plans has not expired and will not
  expire within 120 days after the Effective Time.

(c)               
No Defined Benefit Plans.  Neither the Company nor
  any ERISA Affiliate, maintains, or within the past six years has maintained,
  an ERISA Pension Benefit Plan that is or was a “defined benefit plan”
  subject to Title IV of ERISA.

(d)              
No Prohibited Transactions, Etc.  With respect to
  each ERISA Benefit Plan, neither such plan, nor any trustee, administrator,
  fiduciary, agent or employee thereof, and none of the Shareholders nor the
  Company has engaged in any Prohibited Transaction with respect to such ERISA
  Benefit Plan.  With respect to each ERISA Pension Benefit Plan (i) all
  minimum funding standards required by law with respect to funding of benefits
  payable or to be payable under such plan have been met; (ii) there is no
  accumulated funding deficiency, as defined in Section 412(a) of the Code and
  Section 302(a) of ERISA; and (iii) there have been no terminations, partial
  terminations, or discontinuances of contributions without a determination by
  the IRS that such action does not adversely affect the tax-qualified status of
  that plan.

(e)               
COBRA.  With respect to ERISA Benefit Plans
  qualifying as “group health plans” under Section 4980B of the Code or
  Section 607(l) or 609 of ERISA and related regulations (relating to the
  benefit continuation rights imposed by “COBRA” or qualified medical child
  support orders), the Company and the Shareholders have complied (and at the
  Effective Time will have complied) in all Material respects with all
  reporting, disclosure, notice, election and other benefit continuation and
  coverage requirements imposed thereunder as and when applicable to those
  plans, and the Company has not incurred (or will incur) any direct or indirect
  liability or is (or will be) subject to any loss, assessment, excise tax
  penalty, loss of federal income tax deduction or other sanction, arising on
  account of or in respect of any direct or indirect failure by the Company or
  any Shareholder, at any time prior to the Effective Time, to comply with any
  such federal or state benefit continuation or coverage requirement.

(f)                
Financial Disclosure.  The Company has made, and as
  of the Closing Date will have made or accrued, all payments and contributions
  required, or reasonably expected to be required, to be made under the
  provisions of each ERISA Benefit Plan or Other Compensation Plan, or required
  to be made under applicable laws, rules and regulations, with respect to any
  period prior to the Effective Date, such amounts to be determined using the
  ongoing actuarial and funding assumptions of such plan.  The Financial
  Statements reflect the approximate total pension, medical and other benefit
  liability for all ERISA Benefit Plans and Other Compensation Plans, and no
  Material funding changes or irregularities are reflected thereon which would
  cause such statements to be not representative of prior periods.

(g)               
Multiemployer Plans.  The Company, and no ERISA
  Affiliate of it, is not, nor at any time during the six-year period ended on
  the date hereof was, obligated to contribute to a Multiemployer Plan. 
  The Company, and no ERISA Affiliate of it, has not taken, and does not intend
  to take, any action and no event has occurred which has resulted or could
  reasonably be expected to result in withdrawal liability under Title IV of
  ERISA with respect to any Multiemployer Plan.

-15-

 

(h)               
Claims and Litigation.  No Litigation or claims
  (other than routine claims for benefits) are pending or, to the knowledge of
  the Company or Brewer, threatened against, or with respect to, any of the
  ERISA Benefit Plans or Other Compensation Plans or with respect to any
  fiduciary, administrator, sponsor (in their capacities as such), or any
  party-in-interest thereof.

(i)                 
Excise Taxes, Damages and Penalties.  With respect
  to any ERISA Benefit Plan or Other Compensation Plan, no act, omission or
  transaction has occurred which would result in the imposition on the Company
  of (i) breach of fiduciary duty liability damages under Section 409 of ERISA,
  (ii) a civil penalty assessed pursuant to subsection (c), (i) or (l) of
  Section 502 of ERISA, or (iii) any excise tax under applicable provisions of
  the Code.

(j)                
VEBA Welfare Trust.  Any trust which is intended to
  be exempt from federal income taxation pursuant to Section 501(c)(9) of the
  Code, satisfies the requirements of that section and has received a favorable
  determination letter from the IRS regarding that exempt status and has not,
  since receipt of the most recent favorable determination letter, been amended
  or operated in a way that would adversely affect that exempt status.

  (k)              
Amendments and Termination.  The Company has the
  right to amend, modify, or terminate any ERISA Benefit Plan or Other
  Compensation Plan without incurring any liability thereunder, except as to any
  benefits accrued prior to such amendment, modification, or termination. 
  Prior to the Effective Date, the Company agrees not to amend or modify any
  ERISA Benefit Plan or Other Compensation Plan or take any other action which
  results in an increase in liability under such ERISA Benefit Plan or Other
  Compensation Plan.  To the extent UCB adopts or continues any ERISA
  Benefit Plan or Other Compensation Plan, nothing contained in this Agreement
  limits or restricts UCB’s right to amend, modify, or terminate any of such
  plans in such manner as UCB deems appropriate.

3.20         
Taxes.    (a)  All
  Returns required to be filed with respect to any Tax for which the Company is
  liable have been duly and timely filed with the appropriate governmental
  authority having or purporting to exercise jurisdiction with respect to any
  Tax (a “Taxing Authority”).  All such Returns were correct and
  complete in all Material respects, and each Tax shown to be payable on each
  such Return has been paid.  Each Tax payable by the Company by assessment
  has been timely paid in the amount assessed, and adequate reserves have been
  established on the consolidated books of the Company for all Taxes for which
  the Company is liable, but the payment of which is not yet due. The Company is
  not, nor ever has been, liable for any Tax payable by reason of the income or
  property of a Person other than the Company.  The Company has timely
  filed true, correct and complete declarations of estimated Tax in each
  jurisdiction in which any such declaration is required to be filed by it. No
  Liens for Taxes exist upon the assets of the Company except Liens for Taxes
  which are not yet due.  The Company is not, nor ever has been, subject to
  Tax in any jurisdiction outside of the United States.  No Litigation with
  respect to any Tax for which the Company is asserted to be liable is pending
  or, to the knowledge of the Company or Brewer, threatened and no basis which
  the Company or Brewer believes to be valid exists on which any claim for any
  such Tax can be asserted against the Company.  There are no requests for
  rulings or determinations in respect of any taxes pending between the Company
  and any Taxing Authority.  No extension of any period during which any
  Tax may be assessed or collected and for which the Company is or may be liable
  has been granted to any Taxing Authority.  The Company is not nor has
  been a party to any tax

-16-

 

allocation or sharing agreement.  All amounts
  required to be withheld by the Company and paid to governmental agencies for
  income, social security, unemployment insurance, sales, excise, use and other
  Taxes have been collected or withheld and paid to the proper Taxing
  Authority.  The Company has made all deposits required by law to be made
  with respect to employees’ withholding and other employment taxes.

(b)              
Neither the Company nor any Shareholder is a “foreign person,”
  as that term is referred to in Section 1445(f)(3) of the Code.

(c)               
The Company has not filed a consent pursuant to Section 341(f)
  of the Code or any comparable provision of any other tax statute and has not
  agreed to have Section 341(f)(2) of the Code or any comparable provision of
  any other tax statute apply to any disposition of an asset.  The Company
  has not made, is not obligated to make, and is not a party to any agreement
  that could require it to make any payment that is not deductible under Section
  280G of the Code.  No asset of the Company is subject to any provision of
  applicable law which eliminates or reduces the allowance for depreciation or
  amortization in respect of that asset below the allowance generally available
  to an asset of its type.  No accounting method changes of the Company
  exist or are proposed or threatened which could give rise to an adjustment
  under Section 481 of the Code.

3.21         
Absence of Changes.  Since the Balance Sheet
  Date, except as accurately set forth in Schedule 3.21, none of the
  following has occurred with respect to the Company:

(a)               
any circumstance, condition, event, or state of facts (either
  singularly or in the aggregate), that has caused or is causing a Material
  Adverse Effect on the Company;

(b)              
any change in its authorized or outstanding Capital Stock or
  Derivative Securities;

  (c)               
  any Restricted Payment;

(d)              
any increase in, or any commitment or promise to increase, the
  rates of Cash Compensation, or the amounts or other benefits paid or payable
  under any Company ERISA Pension Plan or Other Compensation Plan, except for
  ordinary and customary bonuses and salary increases for employees (other than
  the Shareholders or an Immediate Family Member) at the times and in the
  amounts consistent with its past practice;

  (e)               
  any work interruptions, labor grievances or claims filed, or any
  similar event or condition of any character, that will, or could reasonably
  expect to, have a Material Adverse Effect on the Company;

(f)                
any distribution, sale, or transfer of, or any Company
  Commitment to distribute, sell, or transfer, any of its assets or properties
  of any kind that singularly is, or in the aggregate are, Material to the
  Company, other than distributions, sales, or transfers in the ordinary course
  of its business and consistent with its past practices to Persons other than
  the Shareholders or an Immediate Family Member or Affiliates;

-17-

 

(g)               
any cancellation of, or agreement to cancel, any Indebtedness,
  obligation, or other liability owing to it, including any Indebtedness,
  obligation, or other liability of any Shareholder or any Related Person or
  Affiliate thereof;

(h)               
any plan, agreement, or arrangement granting any preferential
  rights to purchase or acquire any interest in any of its assets, property, or
  rights or requiring consent of any Person to the transfer and assignment of
  any such assets, property, or rights;

(i)                 
any purchase or acquisition of, or agreement, plan, or
  arrangement to purchase or acquire, any property, rights, or assets, or the
  entering of any other transaction, outside of the ordinary course of its
  business consistent with its past practices;

(j)                
any waiver of any of its rights or claims that singularly is, or
  in the aggregate are, Material to the Company;

(k)              
any Indebtedness incurred by it or any Guaranty not constituting
  its Indebtedness, or any Company Commitment to incur any Indebtedness or any
  such Guaranty;

(l)                 
any investment in the Capital Stock, Derivative Securities, or
  Indebtedness of any Person, other than a Permitted Investment;

(m)             
except in accordance with the Company’s consolidated capital
  expenditure budget for the Company’s current fiscal year, any capital
  expenditure or series of related capital expenditures by the Company and the
  Company Subsidiaries collectively in excess of $50,000, or commitments by the
  Company and the Company Subsidiaries to make capital expenditures aggregating
  in excess of $50,000; or

(n)               
any cancellation or termination of a Material Agreement of the
  Company.

3.22         
Pooling of Interests.  The Company and the
  Shareholders have not, since a date which is at least two years prior to the
  date hereof, engaged in any transaction with respect to any shares of Company
  Capital Stock or of United Common Stock or any interest therein, the intent or
  effect of which is to reduce the risk of owning shares of Company Capital
  Stock or United Common Stock, modified the equity ownership of the Company in
  contemplation of the Stock Acquisition, or otherwise taken any action that
  could in any manner adversely affect UCB’s ability to use “pooling of
  interests” accounting treatment with respect to the Stock Acquisition.

ARTICLE IV

  
  REPRESENTATIONS
  AND WARRANTIES OF UNITED AND UCB

  4.01          Representations and Warranties of United and UCB. 
  United and UCB represent and warrant to each Shareholder that all of the
  following representations and warranties in this Article IV are, as of the
  date of this Agreement, and will be, on the Closing Date, true and correct.

  
  4.02          Organization; Power.  United and UCB are
  corporations duly organized, validly existing, and in good standing under the
  laws of the State of Georgia, and have all requisite

-18-

 

corporate power and
  authority under the laws of Georgia and their Articles of Incorporation and
  Bylaws, each as amended or restated to date to own or lease and to operate
  their properties presently and following the Effective Time and to carry on
  their businesses as now conducted and as proposed to be conducted following
  the Effective Time.

 4.03         
Authorization; Enforceability; Absence of Conflicts; Required
  Consents.

(a)               
The execution, delivery, and performance by UCB and United of
  this Agreement and each Transaction Document to which they are a party, and
  the consummation of the Acquisition Transaction and the other transactions
  contemplated hereby and thereby, are within their corporate power under its
  respective Articles of Incorporation and Bylaws, each as amended or restated
  to date and the applicable Governmental Requirements of Georgia, and has been
  duly authorized by all proceedings, including actions permitted to be taken in
  lieu of proceedings, as may be permitted under their Articles of Incorporation
  and Bylaws, each as amended or restated to date and the applicable
  Governmental Requirements of Georgia.

(b)              
This Agreement has been, and each of the Transaction Documents
  to which UCB and United are parties, when executed and delivered to the other
  parties thereto will have been, duly executed and delivered by them and is, or
  when so executed and delivered will be, their legal, valid, and binding
  obligation, enforceable against them in accordance with its terms, except as
  that enforceability may be (i) limited by any applicable bankruptcy,
  insolvency, reorganization, moratorium, or similar laws affecting the
  enforcement of creditors’ rights generally and (ii) subject to general
  principles of equity (regardless of whether that enforceability is considered
  in a proceeding in equity or at law).

(c)               
The execution, delivery, and performance in accordance with
  their respective terms by UCB and United of the Transaction Documents to which
  they are parties have not and will not (i) violate, breach, or constitute a
  default under (A) their Articles of Incorporation and Bylaws, each as amended
  or restated to date, (B) any Governmental Requirement applicable to them, or
  (C) any of their Material Agreements, (ii) result in the acceleration or
  mandatory prepayment of any Indebtedness, or any Guaranty not constituting
  Indebtedness, of UCB and United or afford any holder of any of that
  Indebtedness, or any beneficiary of any Guaranty, the right to require them to
  redeem, purchase, or otherwise acquire, reacquire, or repay any of that
  Indebtedness, or to perform any Guaranty, (iii) cause or result in the
  imposition of, or afford any Person the right to obtain, any Lien upon any
  property or assets of UCB and United (or upon any revenues, income, or profits
  of UCB and United therefrom), or (iv) result in the revocation, cancellation,
  suspension, or Material modification, singularly or in the aggregate, of any
  Governmental Approval possessed by UCB and United at the date hereof and
  necessary for the ownership, lease, or operation of their properties or the
  carrying on of their business as now conducted, including any necessary
  Governmental Approval under each applicable Environmental Law.

(d)              
Except for (i) filings with state or federal banking regulators
  or (ii) as may be required by applicable state securities or blue sky laws, no
  Governmental Approvals are required to be obtained, and no reports or notices
  to or filings with any Governmental Authority are required to be made, by UCB
  for the execution, delivery, or performance by UCB and United of the
  Transaction Documents to which they are parties, the enforcement against UCB
  and

-19-

 

United of their obligations thereunder, or the consummation of the
  Acquisition Transaction and the other transactions contemplated thereby.

4.04         
Capital Stock of United.  (a)  The
  authorized Capital Stock of United consists of (i) 50,000,000 shares of United
  Common Stock and (ii) 10,000,000 shares of United Preferred Stock, of which
  10,230,974 shares of United Common Stock, no shares of the United Preferred
  Stock, and 492,132 options are issued and outstanding as of the Closing Date
  (except as contemplated by this Agreement).

(b)              
All shares of United Common Stock outstanding, and all shares of
  United Common Stock to be issued pursuant to Section 1.04, when issued, (i)
  have been or will be duly authorized and validly issued in accordance with the
  laws of the State of Georgia and its Articles of Incorporation and Bylaws,
  each as amended or restated to date and (ii) will be fully paid and
  nonassessable.  None of the shares of United Common Stock to be issued
  pursuant to Section 1.04, will, when issued, be issued in breach or
  violation of (i) any applicable statutory or contractual preemptive rights, or
  any other rights of any kind (including any rights of first offer or refusal),
  of any Person or (ii) the terms of any Derivative Securities.

4.05         
Financial Statements of United.  United has
  previously furnished to the Shareholders a true and complete copy of United’s
  financial statements included in its Annual Report on Form 10-K for the year
  ended December 31, 1999 and such other documents publicly filed with the SEC
  since that date (collectively, the “SEC Documents”).  Except
  as stated therein, the financial statements contained in the SEC Documents
  have been prepared in conformity with GAAP, consistently applied, and present
  fairly the consolidated financial position of United or its predecessors, as
  the case may be, at the dates indicated, and the consolidated results of
  operations and changes in cash flow position for each of the periods
  indicated.

4.06         
Absence of Undisclosed Liabilities.  Except as
  fully reflected in the financial statements contained in the SEC Documents or
  in Schedule 4.07, UCB has no knowledge of any Material liabilities of
  any kind of UCB, other than those incurred in connection with this Agreement
  and the transactions contemplated hereby, or incurred in the ordinary course
  of business since June 30, 2000, except for United’s acquisition of North
  Point Bancshares, Inc. and Independent Bancshares, Inc. and its issuance of
  trust preferred securities, none of which have, individually or in the
  aggregate, materially and adversely affected the business, assets, results of
  operations, financial condition, or prospects of UCB.  UCB is not in
  default with respect to any term or condition of any Material Indebtedness;
  and no notice has been given by any holder of any debt claiming that any
  default or breach exists that has not been remedied by UCB or waived in
  writing by such holder.>

4.07         
Securities Filings.  Each registration
  statement, proxy statement, or report filed and not withdrawn by United with
  the SEC under the Securities Act or the Exchange Act did not, on the date of
  effectiveness in the case of each such registration statement, or on the later
  of the date of filing of each such report or any subsequent amendment thereof,
  or on the date of mailing in the case of each such proxy or information
  statement, contain an untrue statement of a material fact or omit to state a
  material fact required to be stated therein or necessary to make the
  statements therein, in light of the circumstances under which they were made,
  not misleading.  Copies of each such registration statement, report, and
  proxy statement have been furnished or

-20-

 

made available to the Shareholders by
  United, and such copies are accurate and complete copies thereof (excluding
  exhibits).  United has filed all documents required to be filed by it
  with the SEC pursuant to Section 13 and 14(a) of the Exchange Act, and all
  such documents complied in all material respects as to form with applicable
  requirements of law.

4.08         
Compliance with Laws; No Litigation.  United and
  UCB are each in compliance with all Material Governmental Requirements
  applicable to it, and no Litigation is pending or, to the knowledge of United
  and UCB, threatened to which United or UCB or any United or UCB Subsidiary is
  or may become a party that (a) questions or involves the validity or
  enforceability of any obligation of United or UCB under any Transaction
  Document, (b) seeks (or reasonably may be expected to seek) (i) to prevent or
  delay consummation by United and UCB of the transactions contemplated by this
  Agreement to be consummated by them, as the case may be, or (ii) Damages from
  United and UCB in connection with any such consummation.

4.09         
No Brokers.  UCB has not, directly or
  indirectly, in connection with this Agreement or the transactions contemplated
  hereby, (a) employed any broker, finder, or agent or (b) agreed to pay or
  incurred any obligation to pay any broker’s or finder’s fee, any sales
  commission, or any similar form of compensation.

  ARTICLE V

  COVENANTS
  EXTENDING TO THE EFFECTIVE TIME

  
  5.01          Access and Cooperation; Due Diligence.  (a)  From
  the date hereof until the Closing Date, the Company will (i) afford to the
  Representatives of UCB reasonable access to all of the key employees, sites,
  properties, and books and records of the Company, (ii) provide UCB with such
  additional financial and operational data and other information relating to
  the business and properties of the Company as UCB may from time to time
  reasonably request, and (iii) cooperate with UCB and its Representatives in
  the preparation of any documents or other material that may be required in
  connection with any Transaction Documents.  Each Shareholder and the
  Company will treat all Confidential Information obtained by them in connection
  with the negotiation and performance of this Agreement as confidential in
  accordance with the provisions of Section 9.13.

  (b)              
  Each of the Company and the Shareholders will use their best
  efforts to secure, as soon as practicable after the date hereof, all approvals
  or consents of third Persons as may be necessary to consummate the
  transactions contemplated hereby.

  (c)               
  From the date hereof until the Closing Date, UCB will (i) afford
  to the Representatives of the Company reasonable access to the sites,
  properties, and books and records of UCB, (ii) provide the Shareholders with
  such additional financial and operational data and other information relating
  to the business and properties of UCB as the Shareholders may from time to
  time reasonably request, and (iii) cooperate with the Company and the
  Shareholders and their respective Representatives in the preparation of any
  documents or other material that may be required in connection with any
  Transaction Documents.

-21-

 

  (d)              
  If this Agreement is terminated pursuant to Section 10.01, UCB
  promptly will return to the Company upon request all written Confidential
  Information of the Company that it then possesses or has under its control.

  5.02         
  Conduct of Business Pending Closing.  From the
  date hereof until the Effective Time, except as set forth in Schedule 5.02,
  the Company will:

  (a)               
  carry on their businesses in substantially the same manner as
  they have heretofore and not introduce any material new method of management,
  operation, or accounting;

  (b)              
  keep in full force and effect without interruption all their
  present insurance policies or other comparable insurance coverage;

  
   5.03          Prohibited Activities.  From the date hereof
  until the Effective Time, without the prior written consent of UCB or unless
  as required or expressly permitted by this Agreement, the Company and Brewer
  will not:

  (a)               
  make any change in its Articles of Incorporation and Bylaws,
  each as amended or restated to date;

  (b)              
  issue or repurchase any of its Capital Stock or issue or
  otherwise create any Derivative Securities;

  (c)               
  make any Restricted Payment;

  (d)              
  enter into any contract or commitment or incur or agree to incur
  any liability or make any capital expenditures in a single transaction or a
  series of related transactions involving an aggregate amount of more than
  $50,000 other than in the ordinary course of its business and consistent with
  its past practice;

  (e)               
  increase or commit or promise to increase the Cash Compensation
  payable or to become payable to any officer, director, shareholder, employee
  or agent, consultant, or independent contractor of the Company or make any
  discretionary bonus or management fee payment to any such Person, except
  bonuses or salary increases to employees (other than the Shareholders or an
  Immediate Family Member) at the times and in the amounts consistent with its
  past practice;

  (f)                
  create, assume, or permit to be created or imposed any Liens
  (other than Permitted Liens) upon any of its assets or properties, whether now
  owned or hereafter acquired, except for purchase money Liens incurred in
  connection with the acquisition of equipment acquired in the ordinary course
  of business consistent with past practices, and necessary or desirable for the
  conduct of the business of the Company;

  (g)               
  (i) adopt, establish, amend, or terminate any ERISA
  Employee Benefit Plan, or any Other Compensation Plan or Employee Policies and
  Procedures, or (ii) take any discretionary action, or omit to take any
  contractually required action, if that action or omission could either (A)
  deplete the assets of any ERISA Employee Benefit Plan or any Other
  Compensation Plan or (B) increase the liabilities or obligations under any
  such plan;

-22-

 

  (h)               
  sell, assign, lease, or otherwise transfer or dispose of any of
  its owned or leased property (whether real or personal, tangible or
  intangible) or equipment (A) to any Related Person or (B) to any Person other
  than in the ordinary course of its business and consistent with its past
  practice;

  (i)                 
  merge, consolidate, or effect a share exchange with, or agree to
  merge, consolidate, or effect a share exchange with, any other entity;

  (j)                
  sell, transfer, or otherwise convey or dispose of any Company
  Capital Stock;

  (k)              
  waive any of its material rights or claims, provided that it may
  negotiate and adjust bills in the course of good faith disputes with customers
  in a manner consistent with past practices;

  (l)                 
  commit a material breach of or amend or terminate any Material
  Agreement of the Company or any of its Governmental Approvals; or

  (m)             
  enter into any other transaction (i) outside the ordinary course
  of its business and consistent with its past practice or (ii) prohibited
  hereby. 

  5.04         
  No Shop; Release of Directors.  (a)  The
  Company and the Shareholders agree that, from the date hereof and until the
  first to occur of the Effective Time or the termination of this Agreement,
  neither the Company nor any Shareholder, nor any officer or director thereto
  shall, and the Company and each Shareholder will direct and use their best
  efforts to cause each of their respective Representatives not to,
  (i) initiate, solicit, or encourage, directly or indirectly, any
  inquiries or the making or implementation of any proposal or offer (including
  any proposal or offer to the Shareholders) with respect to a merger,
  acquisition, consolidation, or similar transaction involving, or any purchase
  of all or any significant portion of the assets or any equity securities of,
  the Company (any such proposal or offer being an “Acquisition Proposal”),
  (ii) engage in any activities, discussions, or negotiations concerning,
  or provide any Confidential Information respecting, the Company, or United or
  any United Subsidiary to, or have any discussions with, any Person relating to
  an Acquisition Proposal, or (iii) otherwise facilitate any effort or
  attempt to make or implement an Acquisition Proposal.  The Company and
  each Shareholder will immediately cease and cause to be terminated any
  existing activities, discussions, or negotiations with any Persons conducted
  heretofore with respect to any of the foregoing, and each will take the steps
  necessary to inform the Persons referred to in the first sentence of this
  Section of the obligations undertaken in this Section, and will notify UCB
  immediately if any such inquiries or proposals are received by, any such
  information is requested from, or any such discussions or negotiations are
  sought to be initiated or continued with, the Company or any Shareholder
  (including the detail of any such discussions or negotiations).

  (b)              
  Each of the Company and the Shareholders hereby (i) waives every
  right, if any, the Governmental Requirements of Florida afford the Company or
  the Shareholders to require the Company’s directors, in the exercise of
  their fiduciary duties in their capacity as such, to engage in any of the
  activities prohibited by this Section and (ii) releases each such person

-23-

 

   

  
  from
  any and all liability he or she might otherwise have to the Company or any
  Shareholder but for this release.

  
   5.05          Notification of Certain Matters.  The
  Shareholders and the Company shall give prompt notice to UCB of (a) the
  existence or occurrence of each condition or any facts that will or reasonably
  could be expected to cause any representation or warranty of the Company or
  any Shareholder contained herein to be untrue or incorrect in any material
  respect at or prior to the Closing or on the Closing Date and (b) any material
  failure of any Shareholder or the Company to comply with or satisfy any
  covenant, condition, or agreement to be complied with or satisfied by that
  Person hereunder.  UCB shall give prompt notice to the Company of the
  existence or occurrence of each condition or any facts that will or reasonably
  could be expected to cause any representation or warranty of UCB contained
  herein to be untrue or inaccurate at or prior to the Closing or on the Closing
  Date, any Material failure of UCB to comply with or satisfy any covenant,
  condition, or agreement to be complied with or satisfied by it
  hereunder.  The delivery of any notice pursuant to this Section shall not
  be deemed to modify the representations or warranties herein of the party
  delivering that notice, or any other party (which modification may be made
  only pursuant to Section 5.06), modify the conditions set forth in Article VI,
  or limit or otherwise affect the remedies available hereunder to the party
  receiving that notice.
   

  5.06         
  Supplemental Information.  The Company and each
  of the Shareholders agree that, with respect to the representations and
  warranties of that party contained in this Agreement, that party will have the
  continuing obligation until the Closing Date to provide UCB promptly with such
  additional supplemental Information (the “Supplemental Information”),
  in the form of (a) amendments to then existing Schedules or (b) additional
  Schedules to the Disclosure Statement, as would be necessary, in the light of
  the circumstances, conditions, events, and any facts then known to such party,
  to make each of those representations and warranties true and correct as of
  the Closing Date.  For purposes only of determining whether the
  conditions to the obligations of UCB that are specified in Section 6.04 have
  been satisfied, and not for any purpose under Article VIII, the Schedules as
  of the Closing Date shall be deemed to be the Schedules as of the date hereof
  as amended or supplemented by the Supplemental Information provided to UCB
  prior to the Closing pursuant to this Section; provided, however,
  that if the Supplemental Information so provided discloses the existence of
  circumstances, conditions, events, or any facts that, in any combination
  thereof, have had a Material Adverse Effect on the Company that was not
  reflected in the determination of the Transaction Value, or in the sole
  judgment of UCB (which shall be conclusive for purposes of this Section and
  Article X, but not for any purpose of Article VII), are having or will have a
  Material Adverse Effect on the Company, as the case may be, then UCB
  will be entitled to terminate this Agreement pursuant to Section
  10.01(a)(iii).

  ARTICLE VI

  
  
  THE
  CLOSING AND CONDITIONS TO CLOSING

  
  
  6.01          The Closing and Certain Actions.  The
  consummation of the transactions contemplated by this Agreement (the “Closing”)
  shall take place at the offices of Kilpatrick Stockton, LLP, 1100 Peachtree
  Street, Suite 2800, Atlanta, Georgia 30309 at 10:00 a.m., Eastern Standard
  Time, on the second business day after receipt of all regulatory approvals
  required to

-24-

 

  
  consummate the transaction, or at such other time or date as UCB
  and the Company shall specify (the “Closing Date”).  Not later
  than two (2) business days before such scheduled Closing Date, the parties
  hereto agree to take all actions that are reasonable and necessary as may be
  requested by UCB to (i) effect the Acquisition Transaction, including, but not
  limited to, (i) verify the location of the certificates evidencing the
  outstanding shares of Company Capital Stock to be exchanged for the
  Acquisition Consideration pursuant to Section 1.05 and (ii) satisfy the
  document delivery requirements set forth in Sections 6.02 and 6.03 to which
  the obligations of the parties to effect the Acquisition Transaction and the
  other transactions contemplated hereby are conditioned (all such actions are
  referred to as the “Pre-Closing”).  The actions taken as part
  of the Pre-Closing will not include either the completion of the Acquisition
  Transaction or the delivery of the Acquisition Consideration pursuant to
  Section 1.05.  Thereafter, on the Closing Date, the Acquisition
  Transaction will become effective pursuant to Section 1.02.

  
  6.02          Conditions to the Obligations of Each Party at the Closing. 
  The obligation of each party hereto to take the actions contemplated to be
  taken by that party at the Closing is subject to the satisfaction of each of
  the following conditions on or prior to the Closing Date:

  (a)               
  No Litigation.  No Litigation shall be pending on
  the Closing Date to restrain, prohibit, or otherwise materially interfere
  with, or to obtain Material Damages or other relief from UCB in connection
  with the consummation of the Acquisition Transaction;

  (b)              
  Governmental Approvals.  All Governmental Approvals
  required to be obtained by the Company, the Shareholders, United, or UCB in
  connection with the consummation of the Acquisition Transaction shall have
  been obtained, except for those that would not have a Material Adverse Effect
  if not obtained;

  (c)               
  Board Approval.  The Agreement and the transactions
  contemplated herein shall have been approved by the Board of Directors of UCB,
  United, and the Company in compliance with applicable state law.

  
  6.03          Conditions to the Obligations of the Company and the
  Shareholders.  The obligations of the Company and each
  Shareholder with respect to actions to be taken by them at or before the
  Closing are subject to the satisfaction, or the written waiver by the Company
  and the Shareholders pursuant to Section 9.04, on or before the Closing Date
  of, in addition to the conditions specified in Section 6.02, all of the
  following conditions:

  (a)               
  Representations And Warranties.  All of the
  representations and warranties of UCB in Article IV shall be true and correct
  in all Material respects as of the Closing Date as though made as of and at
  that time;

  (b)              
  Delivery Of Documents.  UCB shall have delivered to
  the Company:

  (i)           
  an officer’s certificate respecting the truthfulness of the representations
  and warranties of UCB in Article IV and compliance with the covenants of UCB
  in Article VI and elsewhere in the Agreement;

-25-

 

  (ii)           
  opinion dated the Closing Date and addressed to the Company and the
  Shareholders from Kilpatrick Stockton LLP substantially in the form thereof
  attached hereto as Exhibit A;

  (iii)           
  a certificate of the secretary or any assistant secretary of United and
  respecting, and to which is attached, (A) the Articles of Incorporation and
  Bylaws, each as amended or restated to date of United; (B) the resolutions of
  the board of directors of United respecting the approval of the entering and
  delivery of this Agreement and the Transaction Documents and the consummation
  of the transactions contemplated hereby and thereby; and (C) a certificate
  respecting the incumbency and true signatures of the United officers who
  executed this Agreement or will execute any of the Transaction Documents on
  behalf of United;

  (iv)           
  a certificate of the secretary or any assistant secretary of UCB and
  respecting, and to which is attached, (A) the Articles of Incorporation and
  Bylaws, each as amended or restated to date of UCB; (B) the resolutions of the
  board of directors of UCB respecting the approval of the entering and delivery
  of this Agreement and the Transaction Documents and the consummation of the
  transactions contemplated hereby and thereby; and (C) a certificate respecting
  the incumbency and true signatures of the UCB officers who executed this
  Agreement or will execute any of the Transaction Documents on behalf of UCB;

  (v)           
  certificates, dated as of any day within the twenty days prior to closing,
  duly issued by the appropriate officer of the State of Georgia showing United
  to be in good standing and authorized to do business in that State;

  (vi)           
  an executed original of the Transaction Documents, as appropriate; and

  (vii)           
  an opinion of Kilpatrick Stockton LLP that the Acquisition Transaction will be
  treated as a reorganization pursuant to Section 368(a)(1)(B) of the Code.

6.04          Conditions to the Obligations of UCB .  The
  obligations of United with respect to actions to be taken by it at or before
  the Closing are subject to the satisfaction, or written waiver by United
  pursuant to Section 9.04, on or before the Closing Date of, in addition to the
  conditions specified in Section 6.02, all of the following conditions:
 

  (a)               
  Representations And Warranties.  Except as set forth
  in Section 6.04(a)(ii) below, all the representations and warranties of the
  Shareholders and the Company in Articles II and III shall be true and correct
  in all Material respects as of the Closing Date as though made as of and at
  that time.

(b)              
Delivery Of Documents.  The Shareholders and the
  Company, as applicable, shall have delivered to UCB:

  (i)           
  an officer’s certificate, signed by an executive officer of the Company,
  respecting the truthfulness of the representations and warranties of the

-26-

 

  Company in Article III and compliance with the covenants of the Company in
  Article IV and elsewhere in this Agreement, and otherwise in the form thereof
  attached hereto as Exhibit B;

  (ii)           
  opinion dated the Closing Date and addressed to UCB from Counsel for the
  Shareholders substantially in the form thereof attached hereto as Exhibit C;

  (iii)           
  a certificate of the secretary or any assistant secretary of the Company
  respecting, and to which is attached, (A) the Articles of Incorporation and
  Bylaws, each as amended or restated to date of the Company; (B) the
  resolutions of the board of directors of the Company respecting the approval
  of the entering and delivery of this Agreement and the Transaction Documents
  and the consummation of the transactions contemplated hereby and thereby; and
  (C) a certificate respecting the incumbency and true signatures of the Company
  officers who executed this Agreement or will execute any of the Transaction
  Documents on behalf of the Company;

  (iv)           
  from each Shareholder, an executed certificate respecting the truthfulness of
  the representations and warranties of the respective Shareholder in Article II
  and compliance with the covenants of the Shareholder in the Agreement in a
  form reasonably acceptable to Kilpatrick Stockton LLP;

  (v)           
  for the Company, a certificate, dated as of any day within the 20 days prior
  to closing, duly issued by the appropriate Governmental Authorities in Florida
  and, unless waived by UCB, in each other jurisdiction listed for it in Schedule
  3.03, showing it to be in good standing and authorized to do business in
  Florida and those other jurisdictions and that all state franchise and/or
  income tax returns and taxes due by it in Florida and those other
  jurisdictions for all periods prior to the Closing have been filed and paid;
  and

  (vi)           
  an executed original of each of the Transaction Documents, as appropriate;

  (c)               
  Termination of Employment Agreements.  UCB shall
  have received confirmation that any employment agreement between the Company
  and any Shareholder has been terminated prior to the Closing.

(d)              
Purchase of Real Estate.  UCB shall have purchased
  the Real Estate from Harold Brewer pursuant to a Real Estate Purchase
  Agreement of even date herewith in substantially the form attached hereto as Exhibit
  D.

  (e)               
  Pooling of Interest Opinion.  UCB shall have
  received an opinion of Porter Keadle Moore LLP, certified public accountants,
  to the effect that the Stock Acquisition will be accounted for as a “pooling
  of interests,” which opinion will be subject only to such qualifications,
  exceptions, and factual assumptions as are satisfactory to UCB.

(f)                
Performance Share Plan.  United will have issued to
  certain of Company’s employees its Series A 6% non-cumulative Preferred
  Stock with an aggregate stated

-27-

 

value of $2,874,159 in full payment and
  satisfaction of the rights held by certain of the Company’s employees under
  the Company’s Performance Share Plan (the “Rights”).

 
  ARTICLE VII

COVENANTS
  FOLLOWING THE EFFECTIVE TIME

  Each party hereto will,
  and will cause its Affiliates to, provide to each of the other parties hereto
  such cooperation and information as any of them reasonably may request in
  filing any Return, amended Return, or claim for refund, in determining a
  liability for Taxes, or a right to a refund of Taxes or in conducting any
  audit or other proceeding in respect of Taxes.  This cooperation and
  information shall include providing copies of all relevant portions of the
  relevant Returns, together with such accompanying schedules and work papers,
  documents relating to rulings or other determinations by Taxing Authorities,
  and records concerning the ownership and Tax bases of property as are relevant
  that a party possesses.  Each party will make its employees, if any,
  reasonably available on a mutually convenient basis at its cost to provide an
  explanation of any documents or information so provided. Subject to the
  preceding sentence, each party required to file Returns pursuant to this
  Agreement shall bear all costs attributable to the preparation and filing of
  those Returns.
  

 

  ARTICLE VIII

LIMITATIONS
  ON COMPETITION

8.01         
Prohibited Activities.  Brewer agrees that he
  will not, during the period beginning on the date hereof and ending on the
  second anniversary of the Closing Date, directly or indirectly, for any
  reason, for his or her own account, or on behalf of, or together with, any
  other Person except for, and on behalf of, the Company:

(a)               
be engaged as an officer or director or in any other managerial
  or sales capacity or as an owner, co-owner or other investor of or in, whether
  as an employee, independent contractor, consultant or advisor, or as a sales
  representative or distributor of any kind, in a business that sells any
  products or provides any services in competition with the Company or United or
  any Subsidiary of United (United and its Subsidiaries collectively being “United”
  for purposes of this Article IX) within a radius of 25 miles of each location
  in which the Company was engaged in the Business on the date hereof or on the
  Closing Date (those locations collectively being the “Territory”);

  (b)              
  call on any natural person who is at that time employed by the
  Company  or United in any managerial or sales capacity with the purpose
  or intent of attracting that person from the employ of the Company or United;

  (c)               
  call on any Person who at that time is, or at any time within
  one year prior to that time was, a customer of the Company or United within
  the Territory, of whom the Shareholder had knowledge, and contact with, that
  customer relationship, for the purpose of

-28-

 

soliciting or selling any product or
  service in competition with the Company or United within the Territory; or

(d)              
call on any United Acquisition Candidate, with the knowledge of
  that Person’s status as an United Acquisition Candidate, for the purpose of
  acquiring that Person or arranging the acquisition of that Person by any
  Person other than United.

  Notwithstanding the foregoing, (1)
  Brewer may own and hold as a passive investment up to five percent (5%) of the
  outstanding Capital Stock of a competing entity if that class of Capital Stock
  is listed for trading or quotation on a national or regional stock exchange
  registered with the SEC or on The Nasdaq Stock Market and (2) Brewer may
  continue to provide consulting services to third parties for which he may be
  separately remunerated consistent with his past practices during his
  employment by the Company.

8.02          Damages.  Because of the difficulty in measuring
  the economic losses that may be incurred by United as a result of any breach
  by Brewer of his covenants in Section 9.01, and because of the immediate and
  irreparable damage that could be caused to United for which it would have no
  other adequate remedy, each Shareholder agrees that United may enforce the
  provisions of Section 8.01 by any equitable or legal means, including seeking
  an appropriate injunction or restraining order against Brewer if a breach of
  any of those provisions occurs.

8.03         
Reasonable Restraint.  The parties hereto each
  agree that Sections 8.01 and 8.02 impose a reasonable restraint on Brewer in
  light of the activities and Business of the Company on the date hereof, the
  current business plans of United as a result of its proposed acquisitions of
  the Company and other similarly positioned companies, and the consideration to
  be received by Brewer from United as a result of the Stock Acquisition.

8.04         
Severability; Reformation.  The covenants in
  this Article VIII are severable and separate, and the unenforceability of any
  specific covenant in this Article VIII is not intended by any party hereto to,
  and shall not, affect the provisions of any other covenant in this Article
  VIII.  If any court of competent jurisdiction shall determine that the
  scope, time, or territorial restrictions set forth in Section 9.01 are
  unreasonable as applied to any Shareholder, the parties hereto, including
  Brewer, acknowledge their mutual intention and agreement that those
  restrictions be enforced to the fullest extent the court deems reasonable, and
  thereby shall be reformed to that extent as applied to Brewer or any other
  Shareholder similarly situated.

8.05         
Independent Covenant.  All of the covenants in
  this Article VIII are intended by each party hereto to be, and shall be
  construed as, an agreement independent of any other provision in this
  Agreement, and the existence of any claim or cause of action of any
  Shareholder against United, whether predicated on this Agreement or otherwise,
  shall not constitute a defense to the enforcement by United of any covenant in
  this Article VIII. It is specifically agreed that the period specified in
  Section 8.01 shall be computed in the case of each Shareholder by excluding
  from that computation any time during which that Shareholder is in violation
  of any provision of Section 8.01.  The covenants contained in this
  Article IX shall not be affected by any breach of any other provision hereof
  by any party hereto.

-29-

 

8.06         
Materiality.  The Company and Brewer, severally
  and not jointly with any other Person, hereby agree that this Article VIII is
  a material and substantial part of the transactions contemplated hereby.

  ARTICLE IX

GENERAL
  PROVISIONS
 

9.01         
Restrictions on Transfer of United Common Stock.  (a) 
  Each Shareholder, severally and not jointly with any other Person, (i)
  acknowledges that the shares of United Common Stock to be delivered to that
  Shareholder, or the Shareholders’ Agent, as the case may be, have not been
  registered under the Securities Act, and therefore may not be resold by that
  Shareholder without being in compliance with the Securities Act or an
  exemption thereof, until such time as a Registration Statement covering such
  shares, if any, becomes effective and (ii) covenants that none of the shares
  of United Common Stock issued to that Shareholder will be offered, sold,
  assigned, transferred, or otherwise disposed of except upon full compliance
  with all the applicable provisions of the Securities Act and the rules and
  regulations of the SEC and applicable state securities laws and
  regulations.  All certificates evidencing shares of United Common Stock
  issued may bear substantially the following legend:

  
  THE SHARES REPRESENTED BY THIS
  CERTIFICATE WERE ISSUED PURSUANT TO A BUSINESS COMBINATION WHICH IS ACCOUNTED
  FOR AS A “POOLING OF INTERESTS” AND MAY NOT BE SOLD, NOR MAY THE OWNER
  THEREOF REDUCE HIS RISKS RELATIVE THERETO IN ANY WAY, UNTIL SUCH TIME AS THE
  COMPANY HAS PUBLISHED THE FINANCIAL RESULTS COVERING AT LEAST 30 DAYS OF
  COMBINED OPERATIONS AFTER THE EFFECTIVE DATE OF THE MERGER THROUGH WHICH THE
  BUSINESS COMBINATION WAS EFFECTED.  IN ADDITION, THE SHARES REPRESENTED
  HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES
  ACT”) OR ANY STATE SECURITIES LAWS, HAVE BEEN ISSUED PURSUANT TO AND UNDER
  ONE OR MORE EXEMPTIONS THERETO, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED,
  ASSIGNED, OR DISPOSED OF UNLESS AND UNTIL REGISTERED UNDER THE SECURITIES ACT
  AND APPLICABLE STATE SECURITIES LAWS, UNLESS THE COMPANY HAS RECEIVED AN
  OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH
  REGISTRATION IS NOT REQUIRED.

  

  In addition, certificates evidencing
  shares of United Common Stock issued to each Shareholder will bear any legend
  required by the securities or blue sky laws of the state in which that
  Shareholder resides.

9.02          Brokers and Agents.  The Company and the
  Shareholders jointly and severally represent and warrant to UCB that the
  Company has not directly or indirectly employed or become obligated to pay any
  broker or similar agent in connection with the transactions contemplated
  hereby, and agree to indemnify UCB against all Damage Claims arising out of

-30-

 

 

claims for any and all fees and commissions of
brokers or similar agents employed or promised payment by the Company.  

9.03         
Assignment; No Third Party Beneficiaries.  This
Agreement and the rights of the parties hereunder may not be assigned (except by
operation of law) and shall be binding on and inure to the benefit of the
parties hereto, the successors of UCB, and the heirs and legal representatives
of the Shareholders (and, in the case of any trust, the successor trustees of
that trust). Neither this Agreement nor any other Transaction Document is
intended, or shall be construed, deemed, or interpreted to confer on any Person
not a party hereto or thereto any rights or remedies hereunder or thereunder,
except as provided in Section 5.04(b), or as otherwise expressly provided herein
or therein.  

9.04         
Entire Agreement; Amendment; Waivers.  This
Agreement and the documents delivered pursuant hereto constitute the entire
agreement and understanding among the Shareholders, the Company and UCB and
supersede all prior agreements and understandings, both written and oral,
relating to the subject matter of this Agreement. This Agreement may be amended,
modified, or supplemented, and any right hereunder may be waived, if, but only
if, that amendment, modification, supplement, or waiver is in writing and signed
by the party to be bound thereby, and in the case of each Shareholder, the
Shareholders’ Agent or such Shareholder.  The waiver of any of the terms
and conditions hereof shall not be construed or interpreted as, or deemed to be,
a waiver of any other term or condition hereof.

9.05         
Counterparts.  This Agreement may be executed in
multiple counterparts, each of which will be an original, but all of which
together will constitute one and the same instrument.  

9.06         
Expenses.  Whether or not the transactions
contemplated hereby are consummated, UCB will pay the fees, expenses, and
disbursements of UCB and its Representatives that are incurred in connection
with the subject matter of this Agreement and any amendments thereto, including
all costs and expenses incurred in the performance of and compliance with all
conditions to be performed by UCB under this Agreement incurred in connection
with the transactions contemplated hereby.  The Shareholders will file all
necessary documentation and Returns with respect to all Transfer Taxes.  In
addition, each Shareholder acknowledges that he or she, and not the Company or
UCB or the Surviving Corporation, will be responsible for and pay all Taxes, if
any, due upon receipt of the consideration payable to that Shareholder pursuant
to the Stock Acquisition.  

9.07         
Notices.  All notices required or permitted
hereunder shall be in writing, and shall be deemed to be delivered and received
(a) if personally delivered or, if delivered by telegram, facsimile, or courier
service, when actually received by the party to whom notice is sent (or upon
confirmation of receipt received by the sender), or (b) if delivered by mail
(whether actually received or not), at the close of business on the third
business day next following the day when placed in the mail, postage prepaid,
certified or registered, addressed to the appropriate party or parties, at the
address of such party set forth below (or at such other address as such party
may designate by written notice to all other parties in accordance herewith):

  
    
      
        (i)         
        if to UCB:

      

    

  

-31-

   

 

  
    
      
        
          United
          Community Banks

          63 Highway 515

          Blairsville, Georgia  30512

          Attn.: Chief Executive Officer

          Facsimile No.:   (706) 781-6713

          Telephone No.:  (706) 745-2151

          E-mail: _______________________

        

      

    

     with
    copies (which shall not constitute notice for purposes of this Agreement)
    to:

    
      
        
           Kilpatrick
          Stockton LLP

          1100 Peachtree Street

          Atlanta, Georgia  30309

          Attn.:  Richard R. Cheatham

          Facsimile No.:   (404) 815-6555

          Telephone No.:  (404) 815-6570

          E-mail:  rcheatham@kilstock.com

        

      

    

     (ii)        
    if to a Shareholder, to the address set forth with respect to such
    Shareholder on the signature page hereto; and

     (iii)       
    if to the Company:

    
      
        
           Brintech,
          Inc.

          124 Canal Street

          New Smyrna Beach, Florida  32168

          Attn:  Harold Brewer

          Facsimile No.:   (904) 427-2895

          Telephone No.:  (904) 427-6772

          E-mail: ________________________

        

      

    

     with
    copies (which shall not constitute notice for purposes of this Agreement)
    to:

    
      
        
           Powell,
          Goldstein, Frazer & Murphy

          191 Peachtree Street, Suite 1600

          Atlanta, Georgia  30303

          Attn:  Walter G. Moeling

          Facsimile No.:   (404) 572-6999

          Telephone No.:  (404) 572-6629

          E-mail:  wmoeling@pgfm.com

        

      

    

  

9.08         
Governing Law.  This Agreement and the rights and
obligations of the parties hereto shall be governed by, and construed and
enforced in accordance with, the substantive laws of the state of Georgia
without regard to the conflicts of law provisions thereof.

9.09         
Exercise of Rights and Remedies.  Except as
otherwise provided herein, no delay or omission in the exercise of any right,
power, or remedy accruing to any party hereto as a

-32-

   

result of any breach or default hereunder by any
other party hereto shall impair any such right, power, or remedy, nor shall it
be construed, deemed, or interpreted as a waiver of or acquiescence in any such
breach or default, or of any similar breach or default occurring later; nor
shall any waiver of any single breach or default be construed, deemed, or
interpreted as a waiver of any other breach or default hereunder occurring
before or after that waiver.

 9.10         
Time.  Time is of the essence in the performance
of this Agreement in all respects.

9.11         
Reformation and Severability.  If any provision of
this Agreement is invalid, illegal, or unenforceable, that provision shall, to
the extent possible, be modified in such manner as to be valid, legal, and
enforceable and so as to most nearly retain the intent of the parties hereto as
expressed herein, and if such a modification is not possible, that provision
shall be severed from this Agreement, and in either case the validity, legality,
and enforceability of the remaining provisions of this Agreement shall not in
any way be affected or impaired thereby.

9.12         
Remedies Cumulative.  No right, remedy, or
election given by any term of this Agreement shall be deemed exclusive, but each
shall be cumulative with all other rights, remedies, and elections available at
law or in equity.

9.13         
Treatment of Confidential Information. 
(a)  Each of the Company and the Shareholders, severally and not
jointly with any other Person, acknowledges that it, he or she has or may have
had in the past, and in the future may have, access to Confidential Information
of the Company and its Subsidiaries, and UCB and its Subsidiaries. Each of the
Company and the Shareholders, severally and not jointly with any other Person,
agrees that it, he or she will keep confidential all such Confidential
Information and, except with the specific prior written consent of UCB, will not
disclose such Confidential Information to any Person except:  (i)
Representatives of UCB, (ii) its own Representatives, provided that such
Representatives agree to the confidentiality provisions of this Section. 
Confidential Information shall not include (A) such information that becomes
known to the public generally through no fault of the Company or any
Shareholder, (B) information required to be disclosed by law or the order of any
Governmental Authority under color of law, provided that prior to disclosing any
information pursuant to this clause (B), each of the Company and the
Shareholders shall, if possible, give prior written notice thereof to UCB and
provide UCB with the opportunity to contest such disclosure, or (C) such
information that the disclosing party reasonably believes the disclosure of
which is required in connection with the defense of a lawsuit against the
disclosing party.  In the event of a breach or threatened breach by any
Shareholder of the provisions of this Section with respect to any Confidential
Information, UCB shall be entitled to an injunction restraining such Shareholder
from disclosing, in whole or in part, that Confidential Information. 
Nothing herein shall be construed as prohibiting UCB from pursuing any other
remedy available at law or in equity for such breach or threatened breach,
including the recovery of Damages.

(b)              
Because of the difficulty of measuring the economic loss that may
be incurred by UCB, the Surviving Company, or any UCB Subsidiary as a result of
the breach of the covenants in Section 9.13(a), and because of the immediate and
irreparable damage that would be caused to UCB and its Subsidiaries for which it
would have no other adequate remedy, each of the Company and the Shareholders
agrees that UCB may enforce the provisions of

-33-

   

Section 9.13(a) by injunctions and restraining orders
against each of them who breaches any of those provisions.

(c)               
The obligations of UCB set forth in Section 5.01(d) are
incorporated in this Section by this reference.

(d)              
The obligations of the parties under this Section shall survive
the termination of this Agreement.

9.14         
Restriction on Trading.  The Company and the
Shareholders agree that they will not trade (or cause or encourage any third
party to trade), and will use their respective best efforts to assure that none
of the Company Representatives will trade (or cause or encourage any third party
to trade), in the United Common Stock (or securities convertible into or
exercisable for shares of United Common Stock), while in possession of any
material non-public information concerning UCB.

9.15            Survival
of Representations. All representations, warranties, covenants,
and agreements made by either party hereto in or pursuant to this Agreement or
in any exhibit or certificate delivered pursuant hereto shall be deemed to have
been material and to have been relied upon by the party to which made, but,
except as set forth hereafter or specifically stated in this Agreement, such
representations, warranties, covenants, and agreements shall expire and be of no
force and effect upon the Effective Date:

(a)           
the opinions of counsel referred to in Sections 6.03 and 6.04;

(b)           
any fraudulent misrepresentation of any material fact made by either party
hereto in or pursuant to this Agreement or in any instrument, document, or
certificate delivered pursuant to this Agreement;

(c)           
the representations made in Section 3.22;

(d)           
the agreements made in Article VIII; and

(e)           
the agreements made in Section 9.14.

ARTICLE X

TERMINATION

10.01     
Termination of this Agreement.  (a) This Agreement
may be terminated at any time prior to the Closing solely:

  (i)           
  by the mutual written consent of UCB and all of the Shareholders;

  (ii)           
  by the Shareholders, on the one hand, or by UCB, on the other hand, if the
  conditions to Closing in Article VI have not either been satisfied or waived
  and the transactions contemplated by this Agreement to take place at the
  Closing shall not have been consummated by December 31, 2000, unless the
  failure of such transactions to

-34-

   

  be
  consummated results from the willful failure of the party (or in the case of
  the Shareholders, any of them) seeking to terminate this Agreement to perform
  or adhere to any agreement required hereby to be performed or adhered to by
  such party prior to or at the Closing or on the Closing Date; or

  (iii)           
  by the Shareholders, on the one hand, or by UCB, on the other hand, if a
  material breach or default shall be made by the other party (or in the case of
  the Shareholders, any of them) in the observance or in the due and timely
  performance of any of the covenants, agreements, or conditions contained
  herein and such breach or default shall not have been cured by the breaching
  or defaulting party or parties within ten (10) days after notice of such
  breach or default is provided thereto.

(b)              
If this Agreement is terminated pursuant to this Section, the
Acquisition Transaction will be deemed for all purposes to have been abandoned
and of no force or effect.

10.02     
Liabilities in Event of Termination.  If this
Agreement is terminated pursuant to Section 10.01, there shall be no liability
or obligation on the part of any party hereto except (a) as provided in Section
9.06 and (b) to the extent that such liability is based on the breach by that
party of any of its representations, warranties, or covenants set forth in this
Agreement.

ARTICLE XI

DEFINITIONS

11.01     
Certain Defined Terms.  As used in this Agreement,
the following terms have the meanings assigned to them below in this Section.

“COBRA”
means the continuation coverage requirements of Section 1001 of the Consolidated
Omnibus Reconciliation Act of 1985, as amended, as codified in ERISA Sections
601 through 608 and Section 4980B of the Code.

“Confidential
Information” means, with respect to any Person, all trade secrets
and other confidential, nonpublic and/or proprietary information of that Person,
including information derived from reports, investigations, research, work in
progress, codes, marketing and sales programs, capital expenditure projects,
cost summaries, pricing formulae, contract analyses, financial information,
projections, confidential filings with any Governmental Authority, and all other
confidential, nonpublic concepts, methods of doing business, ideas, materials,
or information prepared or performed for, by or on behalf of that Person.

“Damages”
to any specified Person means any costs, damages (including any consequential,
exemplary, punitive, or treble damages) or expenses (including reasonable fees
and actual disbursements by attorneys, consultants, experts, or other
Representatives, and Litigation costs) to, any fine of or penalty on, or any
liability (including loss of earnings or profits) of any other nature to that
Person.

“Damages
Claim” means, as asserted (a) against any specified Person, any
claim, demand, or Litigation made or pending against that Person for Damages to
any other Person, or

-35-

   

(b)          
by the specified Person, any claim or demand of
the specified Person against any other Person for Damages to the specified
Person.

“Employee Policies and Procedures” means
at any time all employee manuals and all material policies, procedures, and
work-related rules that apply at that time to any employee, non-employee
director or officer of, or any other natural person performing consulting or
other independent contractor services for, the Company.

“Engagement and Non-Competition Agreements”
means at any time any (a) agreement to which the Company is a party that then
relates to the direct or indirect employment or engagement, or arises from the
past employment or engagement, of any natural person by the Company, whether as
an employee, a non-employee officer or director, a consultant or other
independent contractor, a sales representative, or a distributor of any kind,
including any employee leasing or service agreement and any noncompetition
agreement, and (b) agreement between the Company and any Person that arises from
the sale of a business by that Person to the Company and limits that Person’s
competition with the Company.

“Environmental
Laws” means any and all Governmental Requirements applicable to the
Business relating to the environment or worker health or safety, including
ambient air, surface water, land surface, or subsurface strata, or to emissions,
discharges, releases or threatened releases of pollutants, contaminants,
chemicals, or industrial toxic or hazardous substances or wastes (including
Hazardous Substances) or noxious noise or odor into the environment, or
otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, recycling, removal, transport, or handling of pollutants,
contaminants, chemicals, or industrial toxic or hazardous substances or wastes
(including petroleum, petroleum distillates, asbestos or asbestos-containing
material, polychlorinated biphenyls, chlorofluorocarbons (including
chlorofluorocarbon-12), or hydrochlorofluorocarbons), including but not limited
to the Comprehensive Environmental Response Compensation and Liability Act, 42
U.S.C.A. § 9601 et seq.; the Resource Conversation and Recovery
Act, 42 U.S.C.A. § 6901 et seq.; the Federal Water Pollution
Control Act, 33 U.S.C.A. § 1251 et seq.; the Federal Clean Air Act,
42 U.S.C.A. § 7401 et seq.; the Federal Insecticide Fungicide and
Rodenticide Act, 7 U.S.C.A. § 135 et seq.; the Toxic Substances
Control Act, 15 U.S.C.A. § 2601 et seq.

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

“ERISA
Affiliate” means any Person that is, or at any time within six
years of that time was, a member of any “group of organizations” within the
meaning of Section 414(b), (c), (m) or (o) of the Code or any “controlled
group” as defined in Section 4001(a)(14) of ERISA of which the specified
Person is or was a member at the same time.

“Financial
Statements” means the Balance Sheet of the Company
at June 30, 2000 and December 31, 1999, the Statements of Income of the Company
for the six months ended June 30, 2000 and the year ended December 31, 1999, the
Statements of Cash Flows of the Company for the six months ended June 30, 2000
and the year ended December 31, 1999 and the Notes to these financial statements

 

-36-

   

“GAAP”
means generally accepted accounting principles and practices in the United
States as in effect from time to time and, with respect to the Financial
Statements of the Company.

“Governmental
Approval” means at any time any authorization, consent, approval,
permit, franchise, certificate, license, implementing order, or exemption of, or
registration or filing with, any Governmental Authority, including any
certification or licensing of a natural person to engage in a profession or
trade or a specific regulated activity, at that time.

“Governmental
Authority” means (a) any national, state, county, municipal, or
other government, domestic or foreign, or any agency, board, bureau, commission,
court, department, or other instrumentality of any such government, and (b) any
Person having the authority under any applicable Governmental Requirement to
assess and collect Taxes for its own account.

“Governmental
Requirement” means at any time (a) any law, statute, code,
ordinance, order, rule, regulation, judgment, decree, injunction, writ, edict,
award, authorization or other requirement of any Governmental Authority in
effect at that time, and (b) any obligation included in any certificate,
certification, franchise, permit, or license issued by any Governmental
Authority or resulting from binding arbitration, including any requirement under
common law, at that time.

“Guaranty”
means, for any specified Person, without duplication, any liability, contingent
or otherwise, of that Person guaranteeing or otherwise becoming liable for any
obligation of any other Person (the “primary obligor”) in any manner,
whether directly or indirectly, and including any liability of the specified
Person, direct or indirect, (a) to purchase or pay (or advance or supply funds
for the purchase or payment of) that obligation or to purchase (or to advance or
supply funds for the purchase of) any security for the payment of that
obligation, (b) to purchase property, securities, or services for the purpose of
assuring the owner of that obligation of its payment, or (c) to maintain working
capital, equity capital, or other financial statement condition or liquidity of
the primary obligor so as to enable the primary obligor to pay that obligation;
provided, that the term “Guaranty” does not include endorsements for
collection or deposit in the ordinary course of the endorser’s business.

“Hazardous
Substances” means any material or substance, or combination of
materials or substances, that by reason of quantity, concentration, composition,
or characteristic is or in the future becomes regulated under any Environmental
Law.

“Immediate
Family Member” of a Shareholder means at any time: (a) if that
Shareholder is a natural person, then any child or grandchild (by blood or legal
adoption) or spouse of that Shareholder at that time, or any child of that
spouse, or such person’s parents, siblings, mothers and fathers-in-law, or
brothers and sisters-in-law; and (b) if that Shareholder is an Entity whose
ultimate beneficial owner is a natural person, or a natural person and his or
her spouse, then any child or grandchild (by blood or legal adoption) or spouse
at that time, or any child of that spouse, or such person’s parents, siblings,
mothers and fathers-in-law, or brothers and sisters-in-law of the ultimate
beneficial owner or owners.

-37-

   

“Indebtedness”
of any Person means, without duplication, (a) any liability of that Person (i)
for borrowed money or arising out of any extension of credit to or for the
account of that Person (including reimbursement or payment obligations with
respect to surety bonds, letters of credit, banker’s acceptances, and similar
instruments), for the deferred purchase price of property or services or arising
under conditional sale or other title retention agreements, other than trade
payables arising in the ordinary course of business, (ii) evidenced by notes,
bonds, debentures, or similar instruments, or (iii) in respect of a lease of (or
other agreement conveying the right to use) real or personal property that is
required to be classified and accounted for as a capital lease in accordance
with GAAP as in effect on the date of this Agreement (“Capital Leases”);
(b) any liability secured by any Lien upon any property or assets of that Person
(or upon any revenues, income, or profits of that Person therefrom), whether or
not that Person has assumed that liability or otherwise becomes liable for the
payment thereof; or (c) any liability of others of the type described in the
preceding clause (a) or (b) in respect of which that Person has incurred,
assumed, or acquired a liability by means of a Guaranty.

“Information”
means written information, including without limitation, (a) data, certificates,
reports, files, records, agreements, correspondence, plans, policies, practices,
manuals, and statements, and (b) summaries of unwritten agreements,
arrangements, contracts, plans, policies, programs, or practices or of unwritten
amendments or modifications of, supplements to, or waivers under any of the
foregoing.

“Lien”
means, with respect to any property or asset of any Person (or any revenues,
income, or profits of that Person therefrom) (in each case whether the same is
consensual or nonconsensual or arises by contract, operation of law, legal
process, or otherwise), (a) any mortgage, lien, security interest, pledge,
attachment, levy, or other charge or encumbrance of any kind thereupon or in
respect thereof or (b) any other arrangement under which the same is
transferred, sequestered, or otherwise identified with the intention of
subjecting the same to, or making the same available for, the payment or
performance of any liability in priority to the payment of the ordinary,
unsecured creditors of that Person, including any “adverse claim” (as
defined in Section 8-302(b) of each applicable Uniform Commercial Code) in the
case of any Capital Stock.  For purposes of this Agreement, a Person shall
be deemed to own subject to a Lien any asset that it has acquired or holds
subject to the interest of a vendor or lessor under any conditional sale
agreement, Capital Lease, or other title retention agreement relating to that
asset.

“Litigation”
means any action, case, proceeding, claim, grievance, suit, or other proceeding
conducted by or pending before any Governmental Authority or any arbitration or
mediation proceeding.

“Material”
means, as applied to any Entity, material to the business, operations, property
or assets, liabilities, financial condition, results of operations, or prospects
of that Entity and its Subsidiaries considered as a whole.

“Material
Adverse Effect” means, with respect to the consequences of any fact
or circumstance (including the occurrence or non-occurrence of any event) to the
Company and the Company Subsidiaries considered as a whole, that such fact or
circumstance has caused, is causing, or may reasonably be expected to cause,
directly, indirectly, or consequentially, singularly or in the aggregate with
other facts and circumstances, any Damages in excess of the one percent of the
Transaction Value.

-38-

   

“Material
Agreement” of an Entity means any contract or agreement (a) to
which that Entity or any of its Subsidiaries is a party, or by which that Entity
or any of its Subsidiaries is bound or to which any property or assets of that
Entity or any of its Subsidiaries is subject and (b) which is Material to
that Entity.

“Multiemployer
Plan” means a “multiemployer plan” as defined in Section
4001(a)(3) of ERISA, Section 414 of the Code, or Section 3(37) of ERISA.

“Other
Compensation Plan” means any compensation or benefit arrangement,
plan, policy, practice, or program established, maintained, or sponsored by the
Company, or to which the Company contributes, on behalf of any of its employees,
retirees, dependents, spouses, directors, independent contractors, or other
beneficiaries, including, but not limited to, all pension, retirement, profit
sharing, deferred compensation, stock option, employee stock ownership,
severance pay, vacation, bonus, or other incentive plans, medical, vision,
dental or other health plans, life insurance plans, and all other employee
benefit plans or fringe benefit plans, but excluding any ERISA Benefit Plan.

“Permitted
Liens” means, as applied to the property or assets of any Person
(or any revenues, income or profits of that Person therefrom), (a) Liens for
Taxes if the same are not at the time due and delinquent; (b) Liens of carriers,
warehousemen, mechanics, laborers and materialmen for sums not yet due; (c)
Liens incurred in the ordinary course of that Person’s business in connection
with workmen’s compensation, unemployment insurance and other social security
legislation (other than pursuant to ERISA or Section 412(n) of the Code); (d)
Liens incurred in the ordinary course of that Person’s business in connection
with deposit accounts or to secure the performance of bids, tenders, trade
contracts, statutory obligations, surety and appeal bonds, performance and
return-of-money bonds and other obligations of like nature; (e) easements,
rights-of-way, reservations, restrictions and other similar encumbrances
incurred in the ordinary course of that Person’s business or existing on
property and not materially interfering with the ordinary conduct of that Person’s
business or the use of that property; (f) defects or irregularities in that
Person’s title to its real properties which do not materially (i) diminish the
value of the surface estate or (ii) interfere with the ordinary conduct of that
Person’s business or the use of any of such properties; (g) any interest or
title of a lessor of assets being leased by any Person pursuant to any Capital
Lease disclosed in Schedule 3.18(c) or any lease that, pursuant to GAAP,
would be accounted for as an operating lease; and (h) Liens securing purchase
money Indebtedness so long as such Liens do not attach to any property or assets
other than the properties or assets purchased with the proceeds of such
Indebtedness.

“Person”
means any natural person, Entity, estate, trust, union or employee organization,
or Governmental Authority or, for the purpose of the definition of “ERISA
Affiliate,” any trade or business.

“Prohibited
Transaction” means any transaction that is prohibited under Section
4975 of the Code or Section 406 of ERISA and not exempt under Section 4975 of
the Code or Section 408 of ERISA.

-39-

   

“Proprietary
Rights” means (a) patents, applications for patents, and patent
rights, (b) in each case, whether registered, unregistered, or under pending
registration, trademark rights, trade names, trade name rights, corporate names,
business names, trade styles or dress, service marks and logos, and other trade
designations and copyrights, and (c), in the case of the Company, all agreements
relating to the technology, know-how, or processes used in any business of the
Company, which are protectable as trade secrets under applicable law.

“Pro Rata
Share” means, for each Shareholder, the fraction expressed as a
percentage the numerator of which is the number of shares of outstanding Company
Capital Stock owned by that Shareholder and the denominator of which is the
total number of shares of outstanding Company Capital Stock owned by all
Shareholders, as of the Closing Date.

“Related
Party Agreement” means any contract or other agreement, written or
oral, (a) to which the Company is a party or is bound or by which any property
of the Company is bound or may be subject, and (b) (i) to which any Shareholder
or any of that Shareholder’s Related Persons or Affiliates also is a party,
(ii) of which any Shareholder or any of that Shareholder’s Related Persons or
Affiliates is a beneficiary, or (iii) as to which any transaction contemplated
thereby properly would be characterized (without regard to the amount involved)
as a related party transaction for purposes of applying the disclosure
requirements of GAAP or the SEC applicable to the Registration Statement.

“Related
Person” of a Shareholder means (a) if that Shareholder is a natural
person, (i) any Immediate Family Member of that Shareholder, (ii) any Estate of
that Shareholder or any Immediate Family Member of that Shareholder, (iii) the
trustee of any inter vivos or testamentary trust of which all the beneficiaries
are Related Persons of that Shareholder, and (iv) any Entity the entire equity
interest in which is owned by any one or more of that Shareholder and Related
Persons of that Shareholder; and (b) if that Shareholder is an Entity, Estate,
or trust, (i) any Person who owns an equity interest in that Shareholder on the
date hereof, (ii) any Person who would be a Related Person under clause (a) of
this definition of a natural person who is an ultimate beneficial owner of that
Shareholder, or (iii) any other Entity the entire equity interest in which is
owned by any one or more of that Shareholder and Related Persons of that
Shareholder.  As used in this definition, “Estate” means, as to any
natural person who has died or been adjudicated mentally incompetent by a court
of competent jurisdiction, that person’s estate or the administrator,
conservator, executor, guardian, or representative of that estate.

“Representatives”
means, with respect to any Person, the directors, officers, employees,
Affiliates, accountants (including independent certified public accountants),
advisors, attorneys, consultants, or other agents of that Person, or any other
representatives of that Person or of any of those directors, officers,
employees, Affiliates, accountants (including independent certified public
accountants), advisors, attorneys, consultants or other agents.

“Restricted
Payment” means, with respect to any Entity at any time, any of the
following effected by that Entity, (a) any declaration or payment of any
dividend or other distribution, direct or indirect, on account of any Capital
Stock of that Entity or any Affiliate of that Entity or (b) any direct or
indirect redemption, retirement, purchase, or other acquisition for value of, or
any direct or indirect purchase, payment, or sinking fund or similar deposit for
the redemption, retirement, purchase, or other acquisition for value of, or to
obtain the surrender of,

-40-

   

(i)          
any then outstanding Capital Stock of that Entity
or any Affiliate of that Entity or (ii) any then outstanding warrants, options,
or other rights to acquire or subscribe for or purchase unissued or treasury
Capital Stock of that Entity or any Affiliate of that Entity.

“Returns”
means the returns, reports, or statements (including any information returns)
any Governmental Requirement requires to be filed for purposes of any Tax.

“Schedules”
shall mean those certain disclosures made by the Company, the
Shareholders, or UCB containing such information, as appropriate, relating to
the representations and warranties made by the respective party as set forth in
the Disclosure Statement.

“Tax”
or “Taxes” means all net or gross income, gross receipts, net
proceeds, sales, use, ad valorem, value added, franchise, bank shares,
withholding, payroll, employment, excise, property, deed, stamp, alternative or
add-on minimum, environmental, or other taxes, assessments, duties, fees,
levies, or other governmental charges or assessments of any nature whatever
imposed by any Governmental Requirement, whether disputed or not, together with
any interest, penalties, or additional amounts with respect thereto.

“Transaction
Documents” means this Agreement, and the other written agreements,
documents, instruments, and certificates executed pursuant to or in connection
with this Agreement or the Stock Acquisition , including those specified in
Article VI to be delivered at or before the Closing Date, all as amended,
modified, or supplemented from time to time.

“Transaction
Value” means the value expressed in dollars resulting as the
product of (a) the aggregate number of shares of United Common Stock designated
as Acquisition Consideration and allocated to the Shareholders, multiplied by
(b) $38.00 per share.

11.02     
Other Definitional Provisions. 
(a)  Except as otherwise specified herein, all references herein to
any Governmental Requirement defined or referred to herein, including the Code,
ERISA, the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the Securities Act of 1933, as amended (the “Securities Act”),
shall be deemed references to that Governmental Requirement or any successor
Governmental Requirement, as the same may have been amended or supplemented from
time to time, and any rules or regulations promulgated thereunder.

(b)              
When used in this Agreement, the words “herein,” “hereof,”
and “hereunder” and words of similar import shall refer to this Agreement as
a whole and not to any provision of this Agreement, and the words “Article,”
“Section,”  “Schedule,” and “Exhibit” refer to Articles and
Sections of, and Schedules and Exhibits to, this Agreement, unless otherwise
specified.

(c)               
Whenever the context so requires, the singular includes the plural
and vice versa, and a reference to one gender includes the other genders.

(d)              
The word “including” (and, with correlative meaning, the word
“include”) means that the generality of any description preceding such word
is not limited, and the words “shall” and “will” are used
interchangeably and have the same meaning.

-41-

   

11.03     
Captions.  Captions to Articles, Sections, and
subsections of, and Schedules and Exhibits to, this Agreement or any Transaction
Document are included for convenience of reference only, and such captions shall
not constitute a part of this Agreement or any Transaction Document for any
other purpose or in any way affect the meaning or construction of any provision
of this Agreement or any Transaction Document.

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 
 

 

 

-42-

   

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

 

		
      UNITED
      COMMUNITY BANKS, INC.

    
		
        

    
		
        

    
		
      By:    /s/  Jimmy
      C. Tallent                          
                 

    
		
           
      Jimmy C. Tallent

    
		
           
      President

    
		
        

    
		
        

    
		
        

    
		
      UNITED
      COMMUNITY BANK

    
		
        

    
		
        

    
		
      By:    /s/  Jimmy
      C. Tallent                          
                 

    
		
           
      Jimmy C. Tallent

    
		
           
      President

    
		
        

    
		
        

    
		
        

    
		
      BRINTECH,
      INC.

    
		
        

    
		
        

    
		
      By:    /s/
      Harold Brewer                           
                 

    
		
           
      Harold Brewer

    
		
           
      Chairman and Chief Executive Officer

    
		
        

    

 

[signatures continued on
following page]

 

 

 

 

-43-

   

	 	SHAREHOLDERS:
	           
       Purchased Shares
                 
       Shares of United Common Stock
	__/s/_______________________________

      Harold Brewer
	          
       Purchased Shares
                 
       Shares of United Common Stock

       
	__/s/_______________________________

      Ross Whipple

 

 

 

 

 

-44-

   

EXHIBIT A

 FORM OF OPINION
OF COUNSEL TO UNITED COMMUNITY

BANKS, INC. AND UNITED COMMUNITY BANK

 

______________________

______________________

______________________

            
Re:            United
Community Banks, Inc. and United Community Bank

 Ladies
and Gentlemen:

 We have
served as legal counsel to United Community Bank, a Georgia bank, (the “Bank”)
and United Community Banks, Inc., a Georgia corporation, (“United”) parties
to that certain Agreement dated as of September__, 2000, by and among the Bank,
United, Brintech, Inc., and the Shareholders Named Therein (the “Agreement”).

This opinion is
being delivered to you pursuant to Section 6.03(b)(ii) of the Agreement and is
limited by, and in accordance with, the January 1, 1992 edition of the
Interpretive Standards applicable to Legal Opinions to Third Parties in
Corporate Transactions adopted by the Legal Opinion Committee of the Corporate
and Banking Law Section of the State Bar of Georgia.  Capitalized terms not
defined herein shall have the meaning ascribed to such terms in the Agreement or
the Interpretive Standards, as the case may be. 

In order to
provide our opinions to you as hereinafter set forth, we have examined any and
all relevant corporate records of the Bank and United, documentation relating to
the Agreement, Public Authority Documents (as defined below), and such other
documents as we have deemed appropriate as a basis for the opinions, including
certificates of officers and representatives of the Bank and United.  For
purposes of this opinion letter, “Public Authority Documents” shall mean
certificates issued by the Secretary of State or any similar governmental
official, office, or agency concerning a person’s property or status, such as
certificates of corporate good standing.  Except as expressly stated
herein, we have not independently verified any factual matters underlying the
matters addressed herein or the accuracy or completeness of any such factual
matters.

The opinions
set forth herein are limited to the laws of the State of Georgia and applicable
Federal laws of the United States of America.

Based upon such
examination and upon our examination of all such other documents, evidence and
statutes as we deemed pertinent, we advise you that in our opinion:

(i)         
United has been duly incorporated and is validly existing as a corporation in
good standing under the laws of the State of Georgia.  The Bank has been
duly incorporated and is in good standing under the laws of the State of
Georgia.

A-1

   

 

(ii)        
The Bank and United have the corporate power and corporate authority to own,
lease, and operate their properties, to conduct their businesses, and to enter
into and perform their obligations under the Agreement.

(iii)        
Except as contemplated in the Agreement, no filing with, or authorization,
approval, consent, license, order, registration, qualification, or decree of any
court or governmental authority or agency is necessary or required in connection
with the due authorization, execution, delivery, and performance of the
Agreement by the Bank and United which has not been previously received.

(iv)       
The execution, delivery, and performance of the Agreement, the consummation of
the transactions contemplated in the Agreement (including the Stock
Acquisition), and compliance by the Bank and United with their obligations under
the Agreement do not and will not, whether with or without the giving of notice
or lapse of time or both, conflict with or constitute a breach of, or default
under, or result in the creation or imposition of any lien, charge, or
encumbrance upon any property or assets of the Bank and United (except for such
conflicts, breaches, or defaults or liens, charges, or encumbrances that would
not have a Material Adverse Effect), nor will such action result in any
violation of the provisions of the Certificate of Incorporation or Bylaws of the
Bank and United, or any applicable law, statute, rule, regulation, judgment,
order, writ, or decree known to be applicable to the transactions contemplated
by the Agreement, of any government, government instrumentality, or court,
domestic or foreign, having jurisdiction over the Bank and United, or any of
their properties, assets, or operations.

(v)        
The Agreement has been duly and validly authorized, executed, and delivered by
the Bank and United, and is enforceable in accordance with its terms.

We render the
foregoing opinions as members of the State Bar of Georgia and express no opinion
as to laws of any jurisdiction other than the laws of the State of Georgia and
any applicable federal laws of the United States of America.

This opinion
letter is provided to you for your exclusive benefit and use in connection with
the Transactions, and may not be relied upon by any other person or entity, or
for any other purpose, without our prior written consent.

		
      Very
      truly yours,

      Kilpatrick
      Stockton LLP

      By:____________________________

            Richard R. Cheatham, a Partner

       

    

 
A-2

   

  EXHIBIT B

   

  FORM OF OFFICER’S
  CERTIFICATE

   

B-1

   

 

EXHIBIT C

 FORM OF OPINION
OF COMPANY’S COUNSEL

 United
Community Banks, Inc.

___________________

___________________

            
Re:            Brintech,
Inc. and the Shareholders thereof

 Gentlemen:

           
We have served as special counsel to Brintech, Inc. (the “Company”) and the
Shareholders, all parties to that certain Agreement dated as of September __,
2000 (the “Agreement”).  We have been requested by our clients
to deliver this opinion to you in satisfaction of the requirement in Section
6.04(b)(ii) of the Agreement. 

           
This opinion is limited by, and is in accordance with, the January 1, 1992
edition of the Interpretive Standards applicable to Legal Opinions to Third
Parties in Corporation Transactions adopted by the Legal Opinion Committee of
the Corporate and Banking Law Section of the State Bar of Georgia, which
Interpretive Standards are incorporated in this opinion letter by this
reference.  Capitalized terms used in this opinion letter and not otherwise
defined herein shall have the meanings assigned to such terms in the Share
Purchase Agreement or the Interpretative Standards.

            
In the capacity described above, we have considered such matters of law and of
fact, including the examination of originals or copies, certified or otherwise
identified to our satisfaction, of such records and documents of the Company,
certificates of officers and representatives of the Company, certificates of
public officials, and such other documents as we have deemed appropriate as a
basis for the opinions hereinafter set forth.

            
The opinions set forth herein are limited to the laws of the State of Georgia
and applicable federal laws.  For purposes of this opinion, we presume that
the corporate code of the State of Florida is the same of the Georgia Business
Corporations Code.

            
Based upon the foregoing, it is our opinion that:

           
(i)           
The Company has been duly incorporated and is validly existing as a corporation
in good standing under the laws of the State of Florida.

           
(ii)            The
Company has corporate power and authority to own, lease and operate its
properties and to conduct its business and to enter into and perform its
obligations under the Agreement.

            
(iii)            The
Company authorized shares consist of ______________ common shares, par value
$_______ per share, and ___ preferred shares, par value $_________ per share, of
which

C-1

   

______ common
shares and ____________ preferred shares are outstanding.  The outstanding
shares have been duly authorized and validly issued and are fully paid and
non-assessable

           
(iv)            The
execution, delivery and performance of the Agreement, and the consummation of
the transactions therein (including the Stock Acquisition), and compliance by
the Company and the Shareholders with their obligations under the Agreement do
not and will not, whether with or without the giving of notice or lapse of time
or both, conflict with or constitute a breach of, or default under, or result in
the creation or imposition of any lien, charge or encumbrance upon any property
or assets of the Company (except for such conflicts, breaches or defaults or
liens, charges or encumbrances that would not have a Material Adverse Effect),
nor will such action result in any violation of the provisions of the charter or
by-laws of the Company, or any applicable law, statute, rule, regulation,
judgment, order, writ or decree, known to be applicable to the transactions
contemplated by the Agreement, of any government, government instrumentality or
court, domestic or foreign, having jurisdiction over the Company, the
Shareholders, or any of their respective properties, assets or operations.

           
(v)            The
Agreement has been duly and validly authorized, executed and delivered by the
Company, and executed and delivered by the Shareholders, enforceable in
accordance with its terms, except as may be limited by bankruptcy, insolvency
and other laws affecting creditors’ rights generally, or as may be modified by
a court of equity. 

           
This opinion letter is provided to you for you and your counsel’s exclusive
use solely in connection with the consummation of the Stock Acquisition and the
other transactions contemplated in the Agreement, and may not be relied upon by
any other person or for any other purpose without our prior written
consent. 

           
We expressly disclaim any duty to update this opinion letter in the future if
there are any changes in relevant fact or law that may change or otherwise
affect any of the opinions expressed herein.

  
    
      
        
          
            
              Very
              truly yours,

               

               

              ________________________________

            

          

        

      

    

  

 
C-2

   

EXHIBIT D

 FORM OF REAL
ESTATE PURCHASE AGREEMENT

 STATE OF
____________________

 COUNTY
OF _____________________

 

 PURCHASE
AND SALE AGREEMENT

 THIS
AGREEMENT is made and entered into this ______ day of September,
2000, by and among Harold Brewer, a resident of the State of Florida (“Seller”)
and United Community Banks, Inc., a Georgia corporation (“Buyer”).

 W
I T N E S S E T H:

 1.           
Agreement to Sell and Purchase.  For and in consideration of the
mutual covenants and agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
Seller and Buyer, Seller hereby agrees to sell and convey to Buyer, and Buyer
hereby agrees to purchase and take from Seller, subject to and in accordance
with all of the terms and conditions of this Agreement, the following:

   (a)           
  All that certain lot, tract or parcel of improved real estate more
  particularly described on Exhibit A attached hereto, together with all
  plants, shrubs and trees located thereon, and together with all rights, ways
  and easements appurtenant thereto, including, without limitation, all of
  Seller’s right, title and interest in and to the land underlying and the air
  space overlying any public or private ways or streets crossing or abutting
  said real estate (collectively, the “Land”);

   (b)           
  All buildings, structures and other improvements of any and every nature
  located on the Land and all fixtures attached or affixed, actually or
  constructively, to the Land or to any such buildings, structures or other
  improvements (collectively, the “Improvements”);

   (c)           
  All goods, equipment, machinery, apparatus, fittings, furniture, furnishings,
  supplies, spare parts, tools and other personal property of every kind located
  on the Land or within the Improvements and used in connection with the
  operation, management or maintenance of the Land or the Improvements,
  excluding any such items owned by tenants of the Land or the Improvements, but
  specifically including, without limitation, the property described on Exhibit
  B attached hereto (collectively, the “Personalty”); and

   (d)           
  All of the right, title and interest accruing to the owner of the Land and the
  Improvements in, to and under:  (i) those management, service and other
  contracts and

D-1

   

 

  agreements,
  if any, scheduled and identified on Exhibit C attached hereto (the “Service
  Agreements”); and (ii) all warranties, guaranties, certificates,
  licenses, permits, authorizations, consents and approvals with respect to the
  use, occupancy, possession and operation of the Land and the Improvements (the
  “Permits”).  The Land, the Improvements and the Personalty
  (collectively, the “Property”).

 2.           
Purchase Price; Method of Payment.  (a)  The purchase
price for the Property shall be _____________________________ Dollars
($____________) (the “Purchase Price”).  The Purchase Price
shall be paid by Buyer to Seller on the Closing Date either (i) by a cashier’s
check of a national bank with its principal offices in Atlanta, Georgia (or such
other banking institution as Seller may approve in writing), or (ii) by wire
delivery of funds through the Federal Reserve System to an account designated in
writing by Seller.

   (b)           
  Notwithstanding the foregoing, in the event that Seller advises Buyer that
  Seller is a “Foreign Person” (as defined in Section 1445 of the Internal
  Revenue Code of 1986, as amended, and regulations promulgated thereunder (the
  “Code”), or in the event that Seller fails or refuses to deliver
  the certificate and affidavit of non-foreign status described in paragraph
  8(a) of this Agreement, or in the event that Buyer receives notice from any
  Seller-transferor’s agent or Buyer-transferee’s agent (as each of such
  terms are defined in the Code), or Buyer has actual knowledge that, such
  certificate and affidavit is false, Buyer shall deduct and withhold from the
  cash portion of the Purchase Price a tax equal to ten percent (10%) of the
  Purchase Price, as required by Section 1445 of the Code.  Buyer shall
  remit such amount to, and file the required form with, the Internal Revenue
  Service, and Buyer shall receive a credit against the Purchase Price for the
  amount so withheld.

 3.           
Closing.  The closing of the purchase and sale of the Property, (
“Closing”, shall be held at the offices of Kilpatrick Stockton LLP,
1100 Peachtree Street, Suite 2800, Atlanta, Georgia 30309, at 10:00 a.m. Eastern
Standard Time on ________ __, ____ or at such other date and time as the parties
may agree, herein called the “Closing Date.”  Notwithstanding
anything to the contrary set forth herein, however, the Closing Date shall be
simultaneous with the closing date established pursuant to the Acquisition
Agreement (hereinafter defined), and if the closing date under the Acquisition
Agreement is extended beyond ________ __, 2000, the Closing Date hereunder shall
be automatically extended until the closing date established pursuant to the
Acquisition Agreement.

 4.           
Access and Inspection; Delivery of Documents and Information by Seller;
Examination by Buyer.  (a)  Between the date of this Agreement and
the Closing Date, Buyer and Buyer’s agents and designees shall have the right
to enter the Property for the purposes of inspecting the Property, conducting
soil tests, and making surveys, mechanical and structural engineering studies,
and any other investigations and inspections as Buyer may reasonably require to
assess the condition of the Property; provided, however, that such
activities by or on behalf of Buyer on the Property shall not materially damage
the Property; and provided further, however, that Buyer
shall indemnify and hold Seller harmless from and against any and all claims for
injury to person or damage to property directly resulting from the activities of
Buyer or Buyer’s agents or designees on the Property.

 

D-2

   

  (b)           
  On or before ________ __, 2000, Seller shall deliver to Buyer, if not
  previously delivered, or make available to Buyer for examination or copying by
  Buyer, at the address for Buyer set forth below Buyer’s execution of this
  Agreement, the following documents and information with respect to the
  Property:

   (i)           
  All surveys, plans, specifications, engineering and mechanical data relating
  to the Property, including such items relating to tenant improvements, and
  reports such as soils reports and environmental audits, which are in Seller’s
  possession or which Seller can obtain with reasonable effort;

    (ii)           
  All real property and other ad valorem tax bills and utility bills regarding
  the Property for the two-year period preceding the date of this Agreement;

   (iii)           
  True and correct copies of all, if any, leases or other occupancy agreements
  affecting the Property (herein called the “Existing Leases”), together
  with true and correct copies of any written amendments or modifications or
  other agreements with respect to, or relating to, the Existing Leases, and
  written disclosure of any oral agreements with respect to, or relating to, the
  Existing Leases (collectively, the “Supplemental Lease Agreements”)
  and all leasing, rental, brokerage or other commissions, charges or fees
  payable with respect to any of Existing Leases;

   (iv)           
  True, correct, and complete copies of the Service Agreements;

   (v)           
  True, correct, and complete copies of the Permits;

   (vi)           
  A full, correct, and complete list and identifying description of all of the
  Personalty;

   (vii)           
  True, correct, and complete copies of all policies of insurance carried by
  Seller with respect to the Property, together with evidence of the premiums
  paid by Seller therefor; and

   (viii)           
  A copy of any policy of title insurance issued in favor of Seller, together
  with legible copies of all instruments referenced therein.

   (c)           
  Buyer shall have until the Closing Date, in which to examine and investigate
  the Property, and to determine whether the Property is suitable and
  satisfactory to Buyer.  In the event that Buyer shall determine, in Buyer’s
  sole and absolute judgment and discretion, that the Property is in any manner
  unsuitable or unsatisfactory to Buyer, Buyer shall have the right, at Buyer’s
  option, to terminate this Agreement by giving written notice thereof to Seller
  on or before the Closing Date, in which event One Hundred and no/100 Dollars
  ($100.00) shall be delivered to Seller within a reasonable time thereafter as
  consideration for Seller’s execution of and entry into this Agreement, all
  rights and obligations of the parties under this Agreement shall expire, and
  this Agreement shall become null and void. Seller acknowledges that Buyer

D-3

   

  will expend
  time, money and other resources in connection with the examination and
  investigation of the Property hereinabove described, and that, notwithstanding
  the fact that Buyer may terminate this Agreement pursuant to this paragraph,
  such time, money and other resources expended, together with the payment of
  $100.00 to Seller in the event of a termination of this Agreement, constitute
  good, valuable, sufficient and adequate consideration for Seller’s execution
  of and entry into this Agreement.

 5.           
Prorations and Adjustments to Purchase Price.  The following
prorations and adjustments shall be made between Buyer and Seller at Closing, or
thereafter if Buyer and Seller shall agree, all with respect to the cash portion
of the Purchase Price:

   (a)           
  All city, state and county ad valorem taxes and similar impositions levied or
  imposed upon or assessed against the Property, (the “Taxes”), for the year
  in which Closing occurs shall be prorated as of the Closing Date.  In the
  event the Taxes for such year are not determinable at the time of Closing,
  said Taxes shall be prorated on the basis of the best available information,
  and Seller and Buyer shall re-prorate the Taxes for such year promptly upon
  the receipt of the tax bills for such year and shall make between themselves
  any equitable adjustment required by reason of any difference between the
  estimated amount of the Taxes used as a basis for the proration at Closing and
  the actual amount of the Taxes for such year.  In the event any of the
  Taxes are due and payable at the time of Closing, the same shall be paid at
  Closing.  In the event Seller has paid only a portion of the Taxes billed
  for the year in which Closing occurs due to the pendency of a protest of such
  Taxes, then, in connection with Closing, Seller shall deposit with a
  representative of a national title company (the “Escrow Agent”) an
  amount equal to Seller’s pro rata share of the resulting underpayment. 
  Any such deposit with Escrow Agent shall be held in escrow by Escrow Agent
  pending final resolution of such protest, pursuant to escrow instructions
  reasonably acceptable in form and substance to Buyer, Seller, Escrow Agent and
  their respective counsel.  If the Taxes are not paid at Closing, Seller
  shall deliver to Buyer the bills for the Taxes promptly upon receipt thereof
  and Buyer shall thereupon be responsible for the payment in full of the Taxes
  within the time fixed for payment thereof and before the same shall become
  delinquent.  In the event that, after the Closing Date, any additional
  Taxes are levied, imposed upon or assessed against the Property for periods
  prior to the Closing Date, Buyer shall give Seller written notice of such
  Taxes, and Seller shall be responsible for payment of such additional Taxes in
  full within the time fixed for payment thereof and before the same become
  delinquent.  Without limiting the obligations of Seller pursuant to the
  immediately preceding sentence, Seller shall, and does hereby, indemnify,
  defend and hold harmless Buyer from and against any such additional Taxes
  (including all interest and penalties assessed or imposed in connection
  therewith) relating to periods prior to the Closing Date.

  (b)           
  All utility charges for the Property (including, without limitation,
  telephone, water, storm and sanitary sewer, electricity, gas, garbage and
  waste removal) shall be prorated as of the Closing Date, transfer fees
  required with respect to any such utility shall be paid by or charged to
  Buyer, and Seller shall be credited with any deposits transferred to the
  account of Buyer; provided, however, that at either party’s
  election any one or more of such utility accounts shall be closed as of the
  Closing Date, in which

D-4

   

  event Seller
  shall be liable and responsible for all charges for service through the
  Closing Date and shall be entitled to all deposits theretofore made by Seller
  with respect to such utility, and Buyer shall be responsible for reopening and
  reinstituting such service in Buyer’s name, and shall be responsible for any
  fees, charges and deposits required in connection with such new account.

   (c)           
  All amounts payable under any of the Service Agreements shall be prorated as
  of the Closing Date.

   (d)           
  Any other items which are customarily prorated in connection with the purchase
  and sale of properties similar to the Property shall be prorated as of the
  Closing Date.

In making the
prorations required by this paragraph, the economic burdens and benefits of
ownership of the Property for the Closing Date shall be allocated to Seller.

 6.           
Title.  (a)  Seller covenants to convey to Buyer at Closing
good and marketable fee simple title in and to the Property.  For the
purposes of this Agreement, “good and marketable fee simple title” shall
mean fee simple ownership which is:  (i) free of all claims, liens and
encumbrances of any kind or nature whatsoever other than the Permitted
Exceptions, hereinafter defined; and (ii) insurable by a title insurance company
reasonably acceptable to Buyer, at then current standard rates under the
standard form of ALTA owner’s policy of title insurance (ALTA Form 1992), with
the standard printed exceptions therein deleted, and without exception other
than for the Permitted Exceptions.  For the purposes of this Agreement, the
term “Permitted Exceptions” shall mean:  (i) current city, state and
county ad valorem taxes not yet due and payable; and (ii) easements for the
installation or maintenance of public utilities serving only the Property.

   (b)           
  Buyer shall have until ________ __, 2000, in which to examine title to the
  Property and in which to give Seller written notice of objections which render
  Seller’s title less than good and marketable fee simple title. 
  Thereafter, Buyer shall have until the Closing Date in which to reexamine
  title to the Property and in which to give Seller written notice of any
  additional objections disclosed by such reexamination.  Seller shall have
  until ten (10) days prior to the Closing Date in which to satisfy all
  objections specified in Buyer’s initial notice of title objections, or agree
  to satisfy any such objections that can only be satisfied at Closing, and
  until the Closing Date in which to satisfy all objections specified in any
  subsequent notice by Buyer of title objections.  If Seller fails so to
  satisfy any such objections, then, at the option of Buyer, Buyer may:  (i)
  terminate this Agreement, in which event the Earnest Money shall be refunded
  to Buyer immediately upon request, all rights and obligations of Seller and
  Buyer under this Agreement shall expire, and this Agreement shall become null
  and void; or (ii) satisfy the objections, after deducting from the Purchase
  Price the cost of satisfying objections which can be satisfied by the payment
  of money; or (iii) waive such satisfaction and performance and consummate the
  purchase and sale of the Property; or (iv) extend the Closing Date for a
  period of up to ninety (90) days, during which time Seller shall cure such
  title objections; or (v) exercise such rights and remedies as may be provided
  for or

D-5

   

  allowed by
  law or in equity.  In the event of an extension of the Closing Date by
  Buyer under clause (iv), above, and a subsequent failure of Seller to cure any
  such title objection, Buyer may then elect among the alternatives specified in
  clauses (i), (ii), (iii), and (v) above.

  (c)           
  Notwithstanding anything to the contrary set forth herein, Seller agrees to
  cause any and all monetary liens and encumbrances recorded with respect to the
  Property, including, without limitation, any mortgage, deed of trust or
  similar instrument, to be released of record on or before the Closing Date.

 7.           
Survey.  Buyer shall have the right to cause an as-built survey of
the Property to be prepared by a surveyor registered and licensed in the State
of New York and designated by Buyer, which survey shall depict such information
as Buyer shall require.  Upon completion of a plat of the survey, Buyer
shall furnish Seller with a copy thereof.  The survey shall be used as the
basis for the preparation of the legal description to be included in the
warranty deed to be delivered by Seller to Buyer at Closing.

8.         Proceedings
at Closing.  On the Closing Date, the Closing shall take place as
follows:

   (a)           
  Seller shall deliver to Buyer the following documents and instruments, duly
  executed by or on behalf of Seller in form and on terms and conditions
  satisfactory to Buyer:  (i) a warranty deed, in recordable form, in the
  form of, and on the terms and conditions set forth in, that attached hereto as
  Exhibit D, conveying the Land and the Improvements; (ii) a bill of sale
  with general warranty of title conveying the Personalty; (iii) a termination
  of any and all Existing Leases, executed by Seller and the tenant or lessee,
  in recordable form; (iv) an assignment transferring and assigning the Service
  Agreements and the Permits; (v) a seller’s affidavit with respect to the
  Property sufficient to cause Buyer’s title insurance policy to be issued
  without exception for mechanics’ or materialmen’s liens or parties in
  possession, or liens other than the Permitted Exceptions; (vi) if Seller is
  not a Foreign Person, a certificate and affidavit of non-foreign status; (vii)
  [Add:  State Withholding Documents, if applicable]; (viii) a
  completed 1099-S request for taxpayer identification number and certification,
  and acknowledgment; (ix) a certificate, in form and substance satisfactory to
  counsel for Buyer, to the effect that the representations and warranties of
  Seller in this Agreement are true and correct on and as of the Closing Date;
  and (x) a quitclaim deed conveying all of Seller’s right, title and interest
  in and to the Property either, at Buyer’s option, in accordance with the
  legal description of the Land set forth on Exhibit A attached hereto,
  or in accordance with the legal description prepared from the survey of the
  Land to be obtained pursuant to this Agreement.

   (b)           
  Seller shall deliver to Buyer the following items, if the same have not been
  theretofore delivered by Seller to Buyer:

  
     (i) 
    The originals of the Permits, if in Seller’s possession or control;

  

D-6

   

  
    (ii) 
    The originals of all books, records, correspondence, memoranda, reports and
    other information and data pertinent to the continued use, occupancy and
    operation of the Property, including, without limitation, all records,
    information and data relevant to income and operating expenses for the
    Property; and

     (iii) 
    To the extent the same are in the possession of Seller on the date of Seller’s
    execution of this Agreement, or reasonably can be obtained by Seller prior
    to Closing, all prior surveys of the Land or any portion thereof and all
    plans and specifications for any of the Improvements.

  

   (c)           
  Buyer shall pay the Purchase Price, after making the adjustments and
  prorations provided for in this Agreement, to Seller in accordance with the
  provisions of this Agreement.

 9.           
Costs of Closing.  [need Florida division of transfer taxes,
recording taxes, title and survey costs, and any other costs.]  Seller
shall pay ____________
________________________________________________________________________, all
recording costs relating to any title clearance matters and Seller’s attorneys’
fees.  Buyer shall pay
_____________________________________________________________________, the cost
of any survey obtained pursuant to paragraph 8 hereof, and Buyer’s attorneys’
fees.  All other costs and expenses of the transaction contemplated hereby
shall be borne by the party incurring the same.

 10.           
Warranties, Representations, and Additional Covenants of Seller. 
Seller represents, warrants, and covenants to and with Buyer, knowing that Buyer
is relying on each such representation, warranty, and covenant, that:

   (a)           
  Seller has the lawful right, power, authority and capacity to sell the
  Property in accordance with the terms, provisions, and conditions of this
  Agreement.

   (b)           
  There are no actions, suits, or proceedings pending or threatened against, by
  or affecting Seller which affect title to the Property or which question the
  validity or enforceability of this Agreement or of any action taken by Seller
  under this Agreement, in any court or before any governmental authority,
  domestic or foreign.

   (c)           
  The execution of and entry into this Agreement, the execution and delivery of
  the documents and instruments to be executed and delivered by Seller on the
  Closing Date, and the performance by Seller of Seller’s duties and
  obligations under this Agreement and of all other acts necessary and
  appropriate for the full consummation of the purchase and sale of the Property
  as contemplated by and provided for in this Agreement, are consistent with and
  not in violation of, and will not create any adverse condition under, any
  contract, agreement or other instrument to which Seller is a party, any
  judicial order or judgment of any nature by which Seller is bound; and this
  Agreement, and the covenants and agreements of Seller under this Agreement,
  are the valid and binding obligations of Seller, enforceable in accordance
  with their terms.

 

D-7

   

  (d)           
  Seller has good and marketable fee simple title to the Property.

   (e)           
  On the Closing Date, neither Seller nor any tenant of the Property will be
  indebted to any contractor, laborer, mechanic, materialman, architect,
  engineer, or any other person for work, labor or services performed or
  rendered, or for materials supplied or furnished, in connection with the
  Property for which any such person could claim a lien against the Property.

   (f)           
  There are no encroachments on the Land, and the Improvements are situated
  entirely within the boundaries of the Land and within applicable building
  lines.

   (g)           
  Seller will pay or cause to be paid promptly when due all city, state and
  county ad valorem taxes and similar taxes and assessments, all sewer and water
  charges and all other governmental charges levied or imposed upon or assessed
  against the Property between the date hereof and the Closing Date, and will
  pay or cause to be paid all expenses incurred in the use, occupancy and
  operation of the Property between the date hereof and the Closing Date.

   (h)           
  The Property is zoned in the zoning classification ___________ under the
  applicable zoning ordinance of ________________________.

   (i)           
  No portion of the Land is located within any Special Flood Hazard Area
  designated by the Federal Emergency Management Agency, or in any area
  similarly designated by any agency of any other governmental authority; no
  portion of the Land meets the definition of “wetlands” codified at 40
  C.F.R. part 230.3(t), or has been similarly designated by any agency of any
  governmental authority; and no portion of the Land constitutes “wetlands”
  that have been filled, whether or not pursuant to appropriate permits.

   (j)           
  No portion of the Property is subject to any other classification, designation
  or preliminary determination of any agency of any federal, state or local
  government, or pursuant to any federal, state or local law, which would
  restrict the use, development, occupancy or operation of the Property,
  including, without limitation, any designation or classification as an
  archeological site, any classification or determination under the Endangered
  Species Act, or any designation as an historical site.

   (k)           
  The Property is not subject to any use, development or occupancy restrictions
  (except those imposed by applicable zoning and subdivision laws and
  regulations), special taxes and assessments or utility “tap-in” fees
  (except those generally applicable throughout the tax district in which the
  Property is located), or charges or restrictions, whether existing of record
  or arising by operation of law, unrecorded agreement, the passage of time or
  otherwise (other than the Permitted Exceptions).

   (l)           
  No portion of the Property is used or, to the best of Seller’s knowledge,
  has ever been used for the storage, processing, treatment or disposal of
  Pollutants, as hereinafter defined in Exhibit E; the Improvements do
  not contain, nor, to the best of

D-8

   

  Seller’s
  knowledge, have they ever contained, Pollutants; to the best of Seller’s
  knowledge, no Pollutants have been released, introduced, spilled, discharged
  or disposed of, nor, to the best of Seller’s knowledge, has there been a
  threat of release, introduction, spill, discharge or disposal of a Pollutant,
  on, in, or under the Property; there are no pending claims, administrative
  proceedings, judgments, declarations, or orders, relating to the presence of
  Pollutants on, in or under the Property, and, to the best of Seller’s
  knowledge, no such claims, proceedings, judgments, declarations or orders are
  threatened; to the best of Seller’s knowledge, the Property is in compliance
  with all federal, state and local laws, regulations, orders and requirements
  regarding the regulation of Pollutants; and, to the best of Seller’s
  knowledge, no Pollutants have been released, introduced, spilled, discharged
  or disposed of on, in or under any adjacent property.

   (m)           
  The Property is a legal lot of record and will not be created by a subdivision
  at Closing.

   (n)           
  The Property is not and has not been subject to any exemption from ad valorem
  taxes that will result in imposition of any tax or penalty upon the transfer
  of title at Closing or any change in use of the Property.

   (o)           
  The Property is not constructed, occupied, used or operated in violation of,
  is not otherwise in violation of, and Seller has received no notice or any
  violations or potential violation of any zoning, building, health,
  environmental or other laws, codes, ordinances, regulations, orders or
  requirements of any city, county, state or other governmental authority having
  jurisdiction thereof, or any private restrictive covenants affecting the
  Property; and all certificates, licenses, permits, authorizations, consents
  and approvals required by any such governmental authority for the continued
  use, occupancy and operation of the Property have been obtained, are paid for,
  and are free of restrictions.

   (p)           
  There are no pending, or, to the best of Seller’s knowledge, threatened or
  contemplated, condemnation actions involving all or any portion of the
  Property; and, to the best of Seller’s knowledge and belief, there are no
  existing, proposed or contemplated plans to widen, modify or realign any
  public rights-of-way located adjacent to any portion of the Land.

   (q)           
  All utilities (including, without limitation, water, storm and sanitary sewer,
  electricity, gas, telephone and cable television) are available on the Land
  through private easements or properly dedicated public easements in capacities
  sufficient to serve and operate the Property.

   (r)           
  Access to the Land from streets and roads adjoining the Land is not limited or
  restricted.

 

D-9

   

  (s)           
  There are no management, maintenance, service or other contracts with respect
  to the Property other than the Service Agreements; and all of the Service
  Agreements can be canceled on thirty (30) days notice or less.

   (t)           
  The Improvements are in good order and repair, and in a good, safe,
  substantial condition, free from defects; all plumbing, heating, electrical
  and air conditioning systems and equipment and systems therein are in good
  order and repair and operating condition; the Improvements are constructed and
  completed strictly in compliance with accepted standards of good materials and
  workmanship, all electrical, plumbing, heating and air-conditioning and
  exterior drainage systems, in or on the Property are in good condition and
  working order; to the best of Seller’s knowledge and belief, there is no
  termite or other pest infestation, dry-rot or similar damage affecting the
  Property; the Improvements are water-tight; and there is no subsidence or
  other soil condition that does or may in the future adversely affect the
  Property.

   (u)           
  The Personalty is in good condition, ordinary wear and tear excepted.

   (v)           
  Between the date hereof and the Closing Date, Seller shall operate the
  Property in the ordinary course of business and shall maintain and repair the
  Property so that, on the Closing Date, the Property will be in the same
  condition as it now exists, natural wear and tear and loss by insured casualty
  alone excepted.

   (w)           
  On or before the Closing Date, Seller shall terminate all of the Existing
  Leases, with the written acknowledgment of the tenants or lessees; between the
  date hereof and such termination, Seller:  shall comply with all
  obligations of the “lessor” or “landlord” under the Existing Leases
  and the Supplemental Lease Agreements; shall continue to carry and maintain in
  force all existing policies of casualty and public liability insurance with
  respect to the Property; shall not make or enter into any lease or other
  agreement for the use, occupancy or possession of all or any part of the Land
  or Improvements without the prior written approval of Buyer; and shall not
  enter into any brokerage commission or fee agreement or arrangement with
  respect to the Property without the prior written approval of Buyer.

   (x)           
  The Existing Leases scheduled and identified on Exhibit F hereto are
  the only leases or other agreements for use, occupancy or possession presently
  in force with respect to all or any portion of the Property.

   (y)           
  Seller will not cause or permit any action to be taken which will cause any of
  the foregoing representations, warranties or covenants to be untrue or
  unperformed on the Closing Date; and Seller will not cause or permit any
  action to be taken which will cause any of the conditions of Buyer’s
  obligations set forth in paragraph 11, below, to be unsatisfied or
  unperformed on or as of the Closing Date.

   (z)           
  Seller will deliver on the Closing Date all documents and instruments required
  by this Agreement and perform all acts necessary or appropriate for the

D-10

   

  consummation of the purchase and sale
  of the Property as contemplated by and provided for in this Agreement.

 Seller
acknowledges and agrees that no examination or investigation of the Property or
of the operation of the Property by or on behalf of Buyer prior to Closing shall
in any way modify, affect or diminish Seller’s obligations under the
representations, warranties, covenants and agreements set forth in this
Agreement.

 11.           
Conditions of Buyer’s Obligations.  Buyer’s obligation to
consummate the purchase and sale of the Property on the Closing Date shall be
subject to the satisfaction or performance of the following terms and
conditions, any one or more of which may be waived in writing by Buyer, in whole
or in part, on or as of the Closing Date:

   (a)           
  Seller shall have fully and completely kept, observed, performed, satisfied
  and complied with all terms, covenants, conditions, agreements, requirements,
  restrictions and provisions required by this Agreement to be kept, observed,
  performed, satisfied or complied with by Seller before, on or as of the
  Closing Date;

   (b)           
  The representations and warranties of Seller in this Agreement shall be true
  and correct, and certified by Seller to Buyer as such, on and as of the
  Closing Date, in the same manner and with the same effect as though such
  representations and warranties had been made on and as of the Closing Date
  (whether this condition shall be deemed performed or satisfied with respect to
  any representations and warranties limited to Seller’s knowledge and belief
  of the truth of the facts, assertions and matters contained therein shall be
  determined without regard to the limitation of the representation or warranty
  to Seller’s knowledge and belief; provided, however, any
  failure to perform or satisfy such condition shall not be deemed to be a
  default by Seller hereunder unless the failure to perform or satisfy such
  condition would otherwise constitute a default by Seller under this
  Agreement);

   (c)           
  Buyer shall not have terminated this Agreement pursuant to an express right so
  to terminate set forth in this Agreement; and

   (d)           
  Closing shall occur under that certain Agreement, by and among United
  Community Banks, Inc.; United Community Bank; Harold Brewer; and Ross Whipple
  ( the “Purchase Agreement”), and Seller expressly acknowledges that
  Buyer’s obligations hereunder are conditioned upon the Purchase Agreement,
  and this Agreement shall automatically terminate upon a termination of the
  Purchase Agreement.

 If any of the foregoing
conditions have not been satisfied or performed or waived in writing by Buyer on
or as of the Closing Date, Buyer shall have the right, at Buyer’s option,
either:  (i) to terminate this Agreement by giving written notice to Seller
on or before the Closing Date, in which event all rights and obligations of
Seller and Buyer under this Agreement shall expire, and this Agreement shall
become null and void; or (ii) if such failure of condition constitutes a breach
of representation or warranty by Seller, constitutes a failure by Seller to
perform any of the terms, covenants, conditions, agreements, requirements,
restrictions or provisions of this

D-11

   

Agreement, or otherwise constitutes a
default by Seller under this Agreement, to exercise such rights and remedies as
may be provided for in paragraph 13 of this Agreement.  In either of
such events, the Earnest Money shall be refunded to Buyer immediately upon
request.

 12.           
Possession at Closing.  Seller shall surrender possession of the
Property to Buyer on the Closing Date, free and clear of all occupants and
rights of occupancy.

 13.           
Remedies.  (a)  If the purchase and sale of the Property is not
consummated in accordance with the terms and conditions of this Agreement due to
circumstances or conditions which constitute a default by Buyer under this
Agreement, Seller may seek, prove and recover (to the extent proven) monetary
damages from Buyer in an amount equal to all actual out-of-pocket costs and
expenses paid or incurred by Sellers in connection with its execution of any
entry into this Agreement, provided,
however, that in the event that Seller
elects to seek to recover damages from Buyer on account of any default by Buyer
under this Agreement, Buyer’s liability to Seller for all damages, of any
nature whatsoever, shall not exceed $__________.

 (b)           
If (i) any representation or warranty of Seller set forth in this Agreement
shall prove to be untrue or incorrect in any respect, or (ii) Seller shall fail
to keep, observe, perform, satisfy or comply with, fully and completely, any of
the terms, covenants, conditions, agreements, requirements, restrictions or
provisions required by this Agreement to be kept, observed, performed, satisfied
or complied with by Seller, or (iii) the purchase and sale of the Property is
otherwise not consummated in accordance with the terms and provisions of this
Agreement due to circumstances or conditions which constitute a default by
Seller under this Agreement (the matters described in the foregoing clauses (i),
(ii) and (iii) are hereinafter sometimes collectively called “Seller Defaults”),
Buyer may exercise such rights and remedies as may be provided for in this
Agreement, or as may be provided for or allowed by law or in equity. 
Seller hereby acknowledges that Buyer’s remedies in the event of the
occurrence of any of the Seller Defaults shall specifically include, without
limitation, the right to seek, prove and recover (to the extent proven) monetary
damages from Seller in an amount equal to all actual out-of-pocket costs and
expenses paid or incurred by Buyer in connection with its execution of and entry
into this Agreement and its proposed acquisition of the Property, including,
without limitation, (i) attorney’s fees and disbursements in connection with
the negotiation and execution of this Agreement, the examination of title to the
Property, and any other legal matter undertaken by Buyer pertaining to the
Property, and (ii) any examinations, investigations, tests and inspections,
undertaken by Buyer with respect to the Property.

 14.           
Indemnification.  Seller shall, and does hereby, indemnify, defend
and hold Buyer harmless from, against and in respect of: (i) any matter arising
out of, by reason of or with respect to the ownership of the Property prior to
and including the Closing Date; (ii) any and all actions, causes of action,
suits, claims, demands, judgments, liens, proceedings and investigations (or any
appeal thereof or relative thereto or other review thereof), of any kind or
nature whatsoever, arising out of, by reason of, as a result of

D-12

   

or in connection with any of the
matters covered by the immediately preceding clause (i); and (iii) any and all
liabilities, damages, losses, costs, expenses (including counsel fees and
expenses and disbursements of counsel), amounts of judgment, assessments, fines
or penalties, and amounts paid in compromise or settlement, suffered, incurred
or sustained by Buyer on account of, by reason of, as a result of or in
connection with any of the matters covered by the immediately preceding clauses
(i) and (ii).

 15.           
Risk of Loss and Insurance.  Between the date of this Agreement and
Closing, the risks and obligations of ownership and loss of the Property and the
correlative rights against insurance carriers and third parties shall belong to
Seller.  In the event of the damage or destruction of any portion of the
Property prior to Closing, Buyer shall have the right, at Buyer’s option, to
terminate this Agreement by giving written notice thereof to Seller prior to
Closing, in which event the Earnest Money shall be refunded to Buyer immediately
upon request, all rights and obligations of Seller and Buyer under this
Agreement shall expire, and this Agreement shall become null and void.  If
Buyer does not so terminate this Agreement, the Purchase Price shall be reduced
by the total of any insurance proceeds received by Seller prior to Closing by
reason of such damage or destruction and by the amount of any deductible
applicable to the policy of insurance, and, at Closing, Seller shall assign to
Buyer all insurance proceeds to be paid or to become payable after Closing by
reason of such damage or destruction.

 16.           
Condemnation.  In the event of the taking of all or any part of the
Property by eminent domain proceedings, or the commencement or bona fide
threat of the commencement of any such proceedings, prior to Closing, Buyer
shall have the right, at Buyer’s option, to terminate this Agreement by giving
written notice thereof to Seller prior to Closing, in which event the Earnest
Money shall be refunded to Buyer immediately upon request, all rights and
obligations of Seller and Buyer under this Agreement shall expire, and this
Agreement shall become null and void.  If Buyer does not so terminate this
Agreement, the Purchase Price shall be reduced by the total of any awards or
other proceeds received by Seller prior to Closing with respect to any taking,
and, at Closing, Seller shall assign to Buyer all rights of Seller in and to any
awards or other proceeds to be paid or to become payable after Closing by reason
of any taking.  Seller shall notify Buyer of eminent domain proceedings
within five (5) days after Seller learns thereof.

 17.           
Assignment.  This Agreement may be assigned by Buyer, in whole or in
part, and any such assignment shall relieve Buyer of liability for the
performance of Buyer’s duties and obligations under this Agreement to the
extent of such assignment.

 18.           
Parties.  This Agreement shall be binding upon and enforceable
against, and shall inure to the benefit of, Buyer and Seller and their
respective legal representatives, successors and assigns.

 19.           
Broker and Commission.  All negotiations relative to this Agreement
and the purchase and sale of the Property as contemplated by and provided for in
this Agreement have been conducted by and between Seller and Buyer without the
intervention of any person or other party as agent or broker.  Seller and
Buyer warrant and represent to each other that, Seller and Buyer have not
entered into any agreement or arrangement and have not received services from
any broker or broker’s employees or independent contractors which would give
rise to any claim of lien or lien against the Property, and there are and will
be no broker’s commissions or fees payable in connection with this Agreement
or the purchase and sale of the Property by reason of their respective dealings
or negotiations.  Seller and Buyer shall and do each hereby
indemnify, 

D-13

   

defend and hold harmless each of the
others from and against the claims, demands, actions and judgments of any and
all brokers, agents and other intermediaries alleging a commission, fee or other
payment to be owing by reason of their respective dealings, negotiations or
communications in connection with this Agreement or the purchase and sale of the
Property.

 20.           
Further Assurances; Survival.  At Closing, and from time to time
thereafter, Seller shall do all such additional and further acts, and shall
execute and deliver all such additional and further deeds, affidavits,
instruments, certificates and documents, as Buyer, Buyer’s counsel or Buyer’s
title insurer may reasonably require fully to vest in and assure to Buyer full
right, title and interest in and to the Property to the full extent contemplated
by this Agreement and otherwise to effectuate the purchase and sale of the
Property as contemplated by and provided for in this Agreement.  All the
provisions of this Agreement (including, without limitation, the
representations, covenants and warranties of Seller as set forth in this
Agreement), shall survive the consummation of the purchase and sale of the
Property on the Closing Date, the delivery of the deed to Buyer and the payment
of the Purchase Price.  Notwithstanding any provision of this Agreement to
the contrary, the indemnification provisions of paragraphs 14 and 19 of this
Agreement shall survive any termination of this Agreement.

 21.           
Modification.  This Agreement supersedes all prior discussions and
agreements among Seller, Buyer and Broker with respect to the purchase and sale
of the Property and other matters contained herein, and this Agreement contains
the sole and entire understanding among Seller, Buyer and Broker with respect
thereto.  This Agreement shall not be modified or amended except by an
instrument in writing executed by or on behalf of Seller and Buyer; provided,
however, that, if and only if any modification or amendment adversely
alters Broker’s commission rights hereunder, the instrument shall be executed
by or on behalf of Broker.

 22.           
Applicable Law.  This Agreement shall be governed by, construed
under and interpreted and enforced in accordance with the laws of the State of
New York.

 23.           
Counterparts.  This Agreement may be executed in several
counterparts, each of which shall be deemed an original, and all of such
counterparts together shall constitute one and the same instrument.

 24.           
Time; Dates.  Time is and shall be of the essence of this
Agreement.  All references to the “date of this Agreement” shall be
deemed to refer to the later of the date of Buyer’s or Seller’s execution of
this Agreement.  If any time period or deadline set forth in this Agreement
falls on a Saturday, Sunday or federal banking holiday, such time period or
deadline shall be extended until the next succeeding business day.

 25.           
Captions.  The captions and headings used in this Agreement are for
convenience only and do not in any way restrict, modify or amplify the terms of
this Agreement.

 26.           
Exhibits.  Each and every Exhibit referred to or otherwise mentioned
in this Agreement is attached to this Agreement and is and shall be construed to
be made a part of this Agreement by such reference or other

D-14

   

mention at each point at which such
reference or other mention occurs, in the same manner and with the same effect
as if each Exhibit were set forth in full and at length every time it is
referred to or otherwise mentioned.

 27.           
Notices.  All notices, requests, demands, tenders, and other
communications under this Agreement shall be in writing.  Any such notice,
request, demand, tender or other communication shall be deemed to have been duly
given when actually delivered, or when delivered to a nationally recognized
commercial courier for next day delivery, or when deposited in the United States
Mail, Certified Mail, Return Receipt Requested, with all postage prepaid, to the
address for each party set forth below its execution of this Agreement, or when
transmitted by facsimile to the telecopy number for each party set forth below
its execution of this Agreement.  A copy of any notice transmitted by
facsimile shall also be sent by United States Mail, with all postage prepaid, to
the address for each party set forth below its execution of this
Agreement.  Rejection or other refusal to accept, or inability to deliver
because of changed address of which no notice was given, shall be deemed to be
receipt of such notice, request, demand, tender, or other communication. 
Any party, by written notice to the others in the manner herein provided, may
designate an address different from that stated above.

 
 

 

 

D-15

   

 

IN WITNESS
WHEREOF, the parties hereto have entered into this Agreement  as
of the day and year first written above.

 

	
       

       

       

    	
      SELLER:

                                                                              

       Initial address for
      notices:

                                                                             

      Telephone Number:                                         

      Telecopy Number:                                           

      With a copy to:

                                                                             

      Telephone Number:                                         

      Telecopy Number:                                           

       Date of Seller’s
      Execution: 

                                                                             

    

 

	
       

       

       

    	
      BUYER:

                                                                              

       Initial address for
      notices:

                                                                              

      Telephone Number:                                         

      Telecopy Number:                                           

       

      With a copy to:

      Kilpatrick Stockton LLP

      1100 Peachtree Street

      Suite 2800

      Atlanta, Georgia 30309

      Attn:  Richard R. Cheatham, Esq.

      Telephone Number:  (404) 815-6500

      Telecopy Number:  (404) 815-6555

      Date of Buyer’s Execution:

                                                                             

    

D-16

   

EXHIBIT E

 DEFINITIONS
MADE A PART OF THIS AGREEMENT

 POLLUTANTS:

 “Pollutants”
means any material or substance, or combination of materials or substances,
which by reason of quantity, concentration, composition, or characteristic is or
in the future becomes regulated under any federal, state or local environmental
or common law, rule, regulation, ordinance or requirement, as may be amended,
replaced or superseded, and shall include, without limitation:

   (a)           
  any hazardous substance as defined by the Comprehensive Environmental
  Response, Compensation and Liability Act, 42 U.S.C.A. § 69601 et seq.;

  (b)           
  any hazardous substance, constituent or waste as defined by the Georgia
  Hazardous Site Response Act, O.C.G.A. § 12-8-90 et seq.;

  (c)           
  any material identified as a hazardous waste under the Solid Waste Disposal
  Act, as amended by the Resource Conservation and Recovery Act, 42 U.S.C.A.
  § 6901 et seq.;

  (d)           
  any solid or hazardous waste identified under the Georgia Comprehensive Solid
  Waste Management Act, O.C.G.A. § 21-8-20 et seq., and the Georgia
  Hazardous Waste Management Act, O.C.G.A. § 12-8-60 et seq.;

  (e)           
  any material regulated as a Toxic pollutant as defined under the Federal Water
  Pollution Control Act, 33 U.S.C.A. § 1251 et seq.;

  (f)           
  any hazardous substance or toxic pollutant as defined under the Federal Water
  Pollution Control Act, 33 U.S.C.A. § 1251 et seq.;

  (g)           
  any hazardous substance as defined by the Oil Pollution Act, 33 U.S.C.A.
  § 2701 et seq., the Georgia Oil Hazardous Material Spills or Releases
  Act, O.C.G.A. § 12-14-1 et seq., the Georgia Water Quality Control Act,
  O.C.G.A. § 12-5-20 et seq. or the Georgia Underground Storage Tank Act,
  O.C.G.A. § 12-13-1 et seq.;

  (h)           
  any hazardous air pollutant as defined under the Federal Clean Air Act, 42
  U.S.C.A. § 7401 et seq. and the Georgia Air Quality Act, O.C.G.A.
  § 12-9-1 et seq.;

  (i)           
  any substance regulated under the Federal Insecticide, Fungicide and
  Rodenticide Act, 7 U.S.C.A. § 135 et seq.;

  (j)           
  a special nuclear or byproduct material within the meaning of the Atomic
  Energy Act, 42 U.S.C.A. § 2014 et seq.; and

  (k)           
  any material or substance, or combination of materials or substances
  displaying any explosive, volatile, radioactive, toxic, corrosive, flammable,
  ignitable or reactive characteristic or which may cause a nuisance, injury,
  harm or degradation to human health, welfare or the environment.

 

E-1Change in Control Severance Agreement

Exhibit 10.11          

 

UNITED COMMUNITY BANKS,
INC.

CHANGE IN CONTROL SEVERANCE AGREEMENT

THIS
AGREEMENT (the "Agreement"), made and entered into as of this 7th day of
June, 2001, by and between UNITED COMMUNITY BANKS, INC.,
a Georgia Corporation (the "Company"), and Rex S. Schuette ("Executive").

W I T N E S S E T H:

WHEREAS,
Executive is a key employee of the Company and an integral part of the Company’s
management; and

WHEREAS,
the Company desires to assure both itself and its key employees of continuity of
management and objective judgment in the event of any Change in Control of the
Company, and to induce its key employees to remain employed by the Company; and

WHEREAS,
the Company desires to provide certain compensation and benefits to Executive in
the event of the termination of his employment under certain circumstances; and

WHEREAS,
the Company and Executive have determined it is in their mutual best interests
to enter into this Agreement;

NOW,
THEREFORE, the parties hereby agree as follows:

1.            TERM
OF AGREEMENT.

This
Agreement shall commence on the date hereof and shall terminate on the earlier
of Executive’s termination of employment without entitlement to any benefits
hereunder or the date Executive attains age 65; provided, however, the Agreement
may be terminated prior to such time by mutual written agreement of Executive
and the Company. This Agreement shall not be considered an employment agreement
and in no way guarantees Executive the right to continue in the employment of
the Company or its affiliates. Executive’s employment is considered employment
at will, subject to Executive’s right to receive payments and benefits upon
certain terminations of employment as provided below.

2.            DEFINITIONS.
For purposes of this Agreement, the following terms shall have the meanings
specified below:

2.1       "Base
Salary." Executive’s annual salary in effect on his Date of
Termination or, if greater, Executive’s highest rate of annual salary in
effect during the six-month period prior to his Date of Termination.

2.2       "Board"
or "Board of Directors." The Board of Directors of the Company,
or its successor.

 

 

2.3       "Cause."
The involuntary termination of Executive by the Company for the following
reasons shall constitute a termination for Cause:

(a)       If
termination shall have been the result of an act or acts by Executive which have
been found in an applicable court of law to constitute a felony (other than
traffic-related offenses);

(b)       If
termination shall have been the result of an act or acts by Executive which are
in the good faith judgment of the Board determined to be in violation of law or
of policies of the Company and which result in demonstrably material injury to
the Company;

(c)       If
termination shall have been the result of an act or acts of proven or undenied
dishonesty by Executive resulting or intended to result directly or indirectly
in significant gain or personal enrichment to Executive at the expense of the
Company; or

(d)       Upon
the willful and continued failure by Executive substantially to perform his
duties with the Company (other than any such failure resulting from incapacity
due to mental or physical illness not constituting a Disability, as defined
herein), after a demand in writing for substantial performance is delivered by
the Board or President, which demand specifically identifies the manner in which
the Board or President believes that Executive has not substantially performed
his duties, and such failure results in demonstrably material injury to the
Company.

With
respect to clauses (b), (c) or (d) above of this Section, Executive shall not be
deemed to have been involuntarily terminated for Cause unless and until there
shall have been delivered to him a copy of a resolution duly adopted by the
affirmative vote of not less than three-quarters of the entire membership of the
Board at a meeting of the Board (after reasonable notice to Executive and an
opportunity for him, together with his counsel, to be heard before the Board),
finding that, in the good faith opinion of the Board, Executive was guilty of
conduct set forth above in clauses (b), (c) or (d) and specifying the
particulars thereof in detail. For purposes of this Agreement, no act or failure
to act by Executive shall be deemed to be "willful" unless done or
omitted to be done by Executive not in good faith and without reasonable belief
that Executive’s action or omission was in the best interests of the Company.

2.4       "Change
in Control." A Change in Control of the Company means any one of the
following events:

  
    (a)       The
    acquisition (other than from the Company) by any Person of Beneficial
    Ownership of twenty percent (20%) or more of the combined voting power of
    the Company’s then outstanding voting securities; provided, however, that
    for purposes of this definition, Person shall not include any person who on
    June 1, 2001 owns ten percent (10%) or more of the Company’s outstanding
    securities, and a Change in Control shall not be deemed to occur solely
    because twenty percent (20%) or more of the combined voting power of the
    Company’s then outstanding securities is acquired by (i) a trustee or
    other fiduciary holding securities under one (1) or more employee benefit
    plans maintained by the Company or any of its subsidiaries, or (ii) any
    corporation, which, immediately prior to such acquisition, is owned directly
    or indirectly by the shareholders of the Company in the same proportion as
    their ownership of stock in the Company immediately prior to such
    acquisition.

  

2

 

  
    (b)       Approval
    by shareholders of the Company of (1) a merger or consolidation involving
    the Company if the shareholders of the Company, immediately before such
    merger or consolidation do not, as a result of such merger or consolidation,
    own, directly or indirectly, more than fifty percent (50%) of the combined
    voting power of the then outstanding voting securities of the corporation
    resulting from such merger or consolidation in substantially the same
    proportion as their ownership of the combined voting power of the voting
    securities of the Company outstanding immediately before such merger or
    consolidation, or (2) a complete liquidation or dissolution of the Company
    or an agreement for the sale or other disposition of all or substantially
    all of the assets of the Company.

    (c)       A
    change in the composition of the Board such that the individuals who, as of
    June 1, 2001, constitute the Board (such Board shall be hereinafter referred
    to as the "Incumbent Board") cease for any reason to constitute at
    least a majority of the Board; provided, however, for purposes of this
    definition that any individual who becomes a member of the Board subsequent
    to June 1, 2001 whose election, or nomination for election by the Company’s
    shareholders, was approved by a vote of at least a majority of those
    individuals who are members of the Board and who were also members of the
    Incumbent Board (or deemed to be such pursuant to this proviso) shall be
    considered as though such individual were a member of the Incumbent Board;
    but, provided, further, that any such individual whose initial assumption of
    office occurs as a result of either an actual or threatened election contest
    (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under
    the Exchange Act, including any successor to such Rule), or other actual or
    threatened solicitation of proxies or consents by or on behalf of a Person
    other than the Board, shall not be so considered as a member of the
    Incumbent Board.

  

2.5       "CIC
Severance Period." A period equal to the lesser of (i) 36 months from
Executive’s Date of Termination or (ii) the number of months (rounded to the
nearest month) from Executive’s Date of Termination until the date he attains
age 65.

2.6       "Code."
The Internal Revenue Code of 1986, as it may be amended from time to time.

2.7       "Company."
United Community Banks, Inc., a Georgia corporation, or any successor to its
business and/or assets.

2.8       "Date
of Termination." The date specified in the Notice of Termination (which,
unless otherwise required by this Agreement, may be immediate) as the date upon
which the Executive’s employment with the Company is to cease. In the case of
termination by Executive for Good Reason, the Date of Termination shall not be
less than thirty (30) days nor more than sixty (60) days from the date the
notice of termination is given.

 

3

 

2.9       "Disability."
Disability shall have the meaning ascribed to such term in the Company’s
long-term disability plan covering the Executive, or in the absence of such
plan, a meaning consistent with Section 22(e)(3) of the Code.

2.10       "Good
Reason." A Good Reason for termination by Executive of Executive’s
employment shall mean the occurrence (without the Executive’s express written
consent) during the 6-month period prior to, or within the eighteen (18) month
period following, the date of a Change in Control of any one of the following
acts by the Company, or failures by the Company to act, unless, in the case of
any act or failure to act described in paragraphs (a), (c), or (d) below, such
act or failure to act is corrected prior to the Date of Termination specified in
the Notice of Termination given in respect thereof (the date 6 months prior to
the date of the Change in Control is referred to in this Section 2.10 as the
"Change in Control Date"):

(a)       the
substantial adverse change in Executive’s responsibilities at the Company from
those in effect immediately prior to the Change in Control Date; or

(b)       the
required relocation of Executive to a location outside of the market area of the
Company on the Change in Control Date; or

(c)       a
material reduction from those in effect on the Change in Control Date in the
levels of coverage of Executive under the Company’s director and officer
liability insurance policy or indemnification commitments; or

(d)       after
the Change in Control Date, a reduction in Executive’s Base Salary, a
reduction in his incentive compensation or the failure by the Company to
continue to provide Executive with benefits substantially similar to those
enjoyed by Executive under any of the Company’s pension, deferred
compensation, life insurance, medical, health and accident or disability plans
in which Executive was participating at the Change in Control Date, the taking
of any action by the Company which would directly or indirectly reduce any of
such benefits or deprive Executive of any material fringe benefit enjoyed by
Executive at the Change in Control Date.

Executive’s
right to terminate the Executive’s employment for Good Reason shall not be
affected by the Executive’s incapacity due to physical or mental illness,
except for a Disability as defined in Section 2.9 above. Executive’s continued
employment shall not constitute consent to, or a waiver of rights with respect
to, any act or failure to act constituting Good Reason hereunder.

2.11       "Notice
of Termination". A written notice from one party to the other party
specifying the Date of Termination and which sets forth in reasonable detail the
facts and circumstances relating to the basis for termination of Executive’s
employment.

2.12       "Person".
Any individual, corporation, bank, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or other entity.

4

 

3.       SCOPE
OF AGREEMENT.

This
Agreement provides for the payment of compensation and benefits to Executive in
the event in connection with a Change in Control his employment is involuntarily
terminated by the Company without Cause or if the Executive terminates his
employment for Good Reason. If Executive is terminated by the Company for Cause,
dies, incurs a Disability or voluntarily terminates employment (other than for
Good Reason), this Agreement shall terminate, and Executive shall be entitled to
no payments of compensation or benefits pursuant to the terms of this Agreement;
provided that in such events, Executive will be entitled to whatever benefits
are payable pursuant to the terms of any health, life insurance, disability,
welfare, retirement, deferred compensation, or other plan or program maintained
by the Company. Executive agrees that this Agreement supercedes and replaces any
existing plan or arrangement of the Company, including any employment agreement,
which provides Executive severance benefits in the event of his termination
under the circumstances covered by this Agreement.

4.       BENEFITS
UPON TERMINATION IN CONNECTION WITH A CHANGE IN CONTROL.

If
a Change in Control occurs during the term of this Agreement and Executive’s
employment is terminated within six (6) months prior to or eighteen (18) months
following the date of the Change in Control, and if such termination is an
involuntary termination by the Company without Cause (and does not arise as a
result of death or Disability) or a termination by Executive for Good Reason (as
defined in Section 2.10 above), Executive shall be entitled to the compensation
and benefits described in Section 4.1 through 4.7 below. If Executive does not
participate in a particular plan or program at the Change in Control Date (or if
the Company no longer maintains or offers such plan or program at the Change in
Control Date), the provisions of the section related to such plan, program or
award shall not apply to Executive.

4.1       Base
Salary. Executive shall continue to receive his Base Salary (subject to
withholding of all applicable taxes) for the entire CIC Severance Period (as
defined in Section 2.5 above), provided that all such salary payments shall be
made in a lump sum payment (determined by taking the Present Value, as defined
in Section 5.5, of such payments) no later than 30 days after his Date of
Termination.

4.2       Annual
Bonus. Executive shall be entitled to bonus payments from the Company as
follows:

(a)       Notwithstanding
any terms of the plan to the contrary, for the fiscal year that ended prior to
Executive’s Date of Termination, but for which no annual bonus payments have
been paid as of his Date of Termination, Executive shall receive a bonus
calculated using the actual results for all performance criteria, provided that
in no case shall the bonus under this subsection (a) be less than the bonus
Executive received for the fiscal year immediately preceding such fiscal year.
Such amount shall be payable at the time such bonus amounts are paid to other
participants, or if previously paid to other participants, no later than 30 days
after the Executive’s Date of Termination.

5

 

(b)       For
the fiscal year during which Executive’s Date of Termination occurs, Executive
shall receive, within 30 days following his Date of Termination, a prorated
bonus (based on the number of days that he was employed during such fiscal
year), calculated as if Executive’s target award level (including any personal
performance component) under the Company’s annual incentive had been achieved
for such year.

(c)       In
addition to the bonus payments payable under (a) and (b) above, Executive shall
be entitled to an additional bonus amount equal to the average of the bonuses
paid to him with respect to the two fiscal years in which bonuses were paid to
him immediately preceding the year in which his Date of Termination occurs,
multipled by two or, if less, multiplied by a number (which need not be a whole
number) equal to the number of months in the CIC Severance Period divided by 12.
Such bonus amount shall be payable in a lump sum within 30 days following the
Executive’s Date of Termination.

4.3       Health
and Life Insurance Coverages.

(a)       The
group health care (including any executive medical plan) and group term life
insurance benefits coverages provided to Executive at his Date of Termination
shall be continued at the same level as for active executives and in the same
manner as if his employment under this Agreement had not terminated, beginning
on the Date of Termination and ending on the last day of the CIC Severance
Period. Any additional coverages Executive had at termination, including
dependent coverage, will also be continued for such period on the same terms, to
the extent permitted by the applicable policies or contracts. Any costs
Executive was paying for such coverages at the time of termination shall be paid
by Executive by separate check payable to the Company each month in advance. If
the terms of any benefit plan referred to in this Section, or the laws
applicable to such plan do not permit continued participation by Executive, then
the Company will arrange for other coverage(s) satisfactory to Executive at
Company’s expense which provides substantially similar benefits or, at
Executive’s election, will pay Executive a lump sum amount equal to the costs
of such coverage(s) for the CIC Severance Period.

(b)       For
purposes of any individual executive life insurance policy (or policies)
maintained by the Company for Executive, the Company shall continue to pay the
premiums for such policy or policies during the CIC Severance Period.

4.4       Retiree
Medical Coverage. If Executive has satisfied the requirements for receiving
Retiree Medical Coverage on his Date of Termination or will satisfy such
requirements prior to the last day of the CIC Severance Period, Executive (and
his dependents) shall be covered by, and receive benefits under, the Company’s
Retiree Medical Coverage program for executives at his level. Executive’s
Retiree Medical Coverage shall commence on the date his group health care
coverage terminates under section 4.3 above, and shall continue for the life of
the Executive (i.e., the coverage shall be vested and may not be terminated),
subject only to such changes in the level of coverage that apply to executives
at his level generally.

4.5       Profit
Sharing Plan. Executive will be entitled to continue to participate,
consistent with past practices, for the CIC Severance Period in the Profit
Sharing Plan (or any successor or replacement plan) as in effect as of his Date
of Termination. Executive’s participation in such Profit Sharing Plan shall
continue for the CIC Severance Period and the compensation payable to Executive
under Sections 4.1 and 4.2(c) above shall be treated (unless otherwise excluded)
as compenation under the plan as if it were paid on a monthly basis. Executive
will receive an amount equal to the Company’s contributions to the Profit
Sharing Plan, assuming Executive had participated in such plan at the maximum
permissible contributions level. If continued participation in any plan is not
permitted by the plan or by applicable law, the Company shall pay to Executive
or, if applicable, his beneficiary, a supplemental benefit equal to the Present
Value on the Date of Termination (calculated as provided in the plan) of the
excess of (i) the benefit Executive would have been paid under such plan if he
had continued to be covered for the CIC Severance Period (less any amounts
Executive would have been required to contribute), over (ii) the benefit
actually payable under such plan. The Company shall pay such additional benefits
in a lump sum within 30 days of his Date of Termination.

6

 

4.6       Automobile,
Club Dues. Executive shall be provided for the CIC Severance Period at the
Company’s expense with an automobile (and related automobile expenses)
commensurate with the practice in effect for executives at the date of the
Change in Control, and payment of club dues and assessments in accordance with
the current practice.

4.7       Other
Benefits. Except as expressly provided herein, all other fringe benefits
provided to Executive as an active employee of the Company (e.g., long-term
disability, AD&D, etc.), shall cease on his Date of Termination, provided
that any conversion or extension rights applicable to such benefits shall be
made available to Executive at his Date of Termination or when such coverages
otherwise cease at the end of the CIC Severance Period.

5.            LIMITATION
ON BENEFITS.

5.1       Notwithstanding
anything in this Agreement to the contrary, any benefits payable or to be
provided to Executive by the Company or its affiliates, whether pursuant to this
Agreement or otherwise, which are treated as Severance Payments shall, but only
to the extent necessary, be modified or reduced in the manner provided in 5.2
below so that the benefits payable or to be provided to Executive under this
Agreement that are treated as Severance Payments, as well as any payments or
benefits provided outside of this Agreement that are so treated, shall not cause
the Company to have paid an Excess Severance Payment. In computing such amount,
the parties shall take into account all provisions of Code Section 280G, and the
regulations thereunder, including making appropriate adjustments to such
calculation for amounts established to be Reasonable Compensation.

5.2       In
the event that the amount of any Severance Payments which would be payable to or
for the benefit of Executive under this Agreement must be modified or reduced to
comply with this Section 5, Executive shall direct which Severance Payments are
to be modified or reduced; provided, however, that no increase in
the amount of any payment or change in the timing of the payment shall be made
without the consent of the Company.

5.3       This
Section 5 shall be interpreted so as to avoid the imposition of excise taxes on
Executive under Section 4999 of the Code or the disallowance of a deduction to
the Company pursuant to Section 280G(a) of the Code with respect to amounts
payable under this Agreement or otherwise. Notwithstanding the foregoing, in no
event will any of the provisions of this Section 5 create, without the consent
of Executive, an obligation on the part of Executive to refund any amount to the
Company following payment of such amount.

7

 

5.4       In
addition to the limits otherwise provided in this Section 5, to the extent
permitted by law, Executive may in his sole discretion elect to reduce any
payments he may be eligible to receive under this Agreement to prevent the
imposition of excise taxes on Executive under Section 4999 of the Code.

5.5       For
purposes of this Section 5, the following definitions shall apply:

(a)       "Excess
Severance Payment". The term "Excess Severance Payment" shall
have the same meaning as the term "excess parachute payment" defined
in Section 280G(b)(1) of the Code.

(b)       "Severance
Payment". The term "Severance Payment" shall have the same
meaning as the term "parachute payment" defined in Section 280G(b)(2)
of the Code.

(c)       "Reasonable
Compensation". The term "Reasonable Compensation" shall have
the same meaning as provided in Section 280G(b)(4) of the Code. The parties
acknowledge and agree that, in the absence of a change in existing legal
authorities or the issuance of contrary authorities, amounts received by
Executive as damages under or as a result of a breach of this Agreement shall be
considered Reasonable Compensation.

(d)       "Present
Value". The term "Present Value" shall have the same meaning
as provided in Section 280G(d)(4) of the Code.

6.            MISCELLANEOUS.

6.1       No
Obligation to Mitigate. Executive shall not be required to mitigate the
amount of any payment provided for under this Agreement by seeking other
employment, nor shall the amount of any payment provided for under this
Agreement be reduced by any compensation earned by Executive as a result of
employment by another employer after the Date of Termination or otherwise

6.2       Contract
Non-Assignable. The parties acknowledge that this Agreement has been entered
into due to, among other things, the special skills and knowledge of Executive,
and agree that this Agreement may not be assigned or transferred by Executive.

6.3       Successors;
Binding Agreement.

(a)       In
addition to any obligations imposed by law upon any successor to the Company,
the Company will require any successor (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business
and/or assets of the Company or that acquires a controlling stock interest in
the Company to expressly assume and

8

 

agree
to perform this Agreement, in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place.
Failure of the Company to obtain such assumption and agreement prior to the
effective date of such succession shall be a breach of this Agreement and shall
entitle Executive to compensation and benefits from the Company under Section 4
in the amount and on the same terms as Executive would be entitled to hereunder
if Executive were to terminate Executive’s employment for Good Reason.

(b)       This
Agreement shall inure to the benefit of and be enforceable by Executive’s
personal or legal representative, executors, administrators, successors, heirs,
distributees, devisees and legatees. If Executive shall die while any amount is
still payable to Executive hereunder (other than amounts which, by their terms,
terminate upon the death of Executive), all such amounts, unless otherwise
provided herein, shall be paid in accordance with the terms of this Agreement to
the executors, personal representatives or administrators of Executive’s
estate.

6.4       Notices.
All notices, requests, demands and other communications required or permitted
hereunder shall be in writing and shall be deemed to have been duly given when
delivered or seven days after mailing if mailed first class, certified mail,
postage prepaid, addressed as follows:

  
    	
          If to the
          Company:
	
          United
          Community Banks, Inc.

	
           
	
          Attention:
          ______________

	
           
	
          P.O. Box 398

	
           
	
          Blairsville,
          GA 30514

           

	
          If to
          Executive:
	
           Rex S.
          Schuette

	
           
	
          _________________

	
           
	
          _________________

         

  

Any party may change
the address to which notices, requests, demands and other communications shall
be delivered or mailed by giving notice thereof to the other party in the same
manner provided herein.

6.5       Provisions
Severable. If any provision or covenant, or any part thereof, of this
Agreement should be held by any court to be invalid, illegal or unenforceable,
either in whole or in part, such invalidity, illegality or unenforceability
shall not affect the validity, legality or enforceability of the remaining
provisions or covenants, or any part thereof, of this Agreement, all of which
shall remain in full force and effect.

6.6       Waiver.
Failure of either party to insist, in one or more instances, on performance by
the other in strict accordance with the terms and conditions of this Agreement
shall not be deemed a waiver or relinquishment of any right granted in this
Agreement or the future performance of any such term or condition or of any
other term or condition of this Agreement, unless such waiver is contained in a
writing signed by the party making the waiver.

9

 

6.7       Amendments
and Modifications. This Agreement may be amended or modified only by a
writing signed by both parties hereto, which makes specific reference to this Agreement.

6.8       Governing Law.
The validity and effect of this Agreement shall be governed by and be construed
and enforced in accordance with the laws of the State of Georgia.

6.9       Disputes; Legal
Fees; Indemnification.

(a)       Disputes.
All claims by Executive for compensation and benefits under this Agreement shall
be in writing and shall be directed to and be determined by the Board. Any
denial by the Board of a claim for benefits under this Agreement shall be
provided in writing to Executive within 30 days of such decision and shall set
forth the specific reasons for the denial and the specific provisions of this
Agreement relied upon. The Board shall afford a reasonable opportunity to
Executive for a review of its decision denying a claim and shall further allow
Executive to appeal in writing to the Board a decision of the Board within sixty
(60) days after notification by the Board that Executive’s claim has been
denied. To the extent permitted by applicable law, any further dispute or
controversy arising under or in connection with this Agreement shall be settled
exclusively by arbitration in Atlanta, Georgia, in accordance with the rules of
the American Arbitration Association then in effect. Judgment may be entered on
the arbitrator’s award in any court having jurisdiction.

(b)       Legal Fees.
If, in connection with a Change in Control, Executive terminates his employment
for Good Reason or if the Company involuntarily terminates Executive without
Cause, then, in the event Executive incurs legal fees and other expenses in
seeking to obtain or to enforce any rights or benefits provided by this
Agreement and is successful, in whole or in part, in obtaining or enforcing any
such rights or benefits through settlement, mediation, arbitration or otherwise,
the Company shall promptly pay Executive’s reasonable legal fees and expenses
and related costs incurred in enforcing this Agreement including, without
limitation, attorneys fees and expenses, experts fees and expenses,
investigative fees, and travel expenses. Except to the extent provided in the
preceding sentence, each party shall pay its own legal fees and other expenses
associated with any dispute under this Agreement.

(c)       Indemnification.
During the Term of this Agreement and after Executive’s termination, the
Company shall indemnify Executive and hold Executive harmless from and against
any claim, performance as an officer, director or employee of the Company or any
of its subsidiaries or other affiliates or in any other capacity, including any
fiduciary capacity, in which Executive serves at the Company’s request, in
each case to the maximum extent permitted by law and under the Company’s
Articles of Incorporation and By-Laws (the "Governing Documents"),
provided that in no event shall the protection afforded to Executive hereunder
be less than that afforded under the Governing Documents as in effect on the
date of this Agreement except from changes mandated by law.

 

10

 

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

	
 

    	
EXECUTIVE

/s/ Rex S. Schuette                                               

 

    
	
 

    	UNITED COMMUNITY BANKS,
INC.

      

      By:  /s/ Jimmy Tallent                                            

    

 

Attest:

 

/s/ Thomas C. Gilliland                                     

Secretary

(CORPORATE SEAL)

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