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Exhibit 10.5  

Saxony
  Securities, Inc.  

  
 

    AGREEMENT    
    

        The following are the terms and conditions of an agreement dated as of August 5, 2004 (the "Agreement"), under which Saxony Securities, Inc., a
Missouri corporation ("SSI"), will provide consulting services to and serve as a sponsoring dealer for CommunitySouth Bancshares, Inc. (the "Company") in connection with its subscription
offering for a minimum of 1,130,000 and a maximum of 2,500,000 shares of the Company's common stock at a price of $10.00 per share (the "Subscription Offering"). The Subscription Offering will be made
means of the prospectus (the "Prospectus") incorporated in a registration statement on Form SB-2 (together with any amendments thereto, the "Registration Statement") filed with the U.S.
Securities and Exchange Commission ("SEC"), which will be provided to SSI. SSI and the Company are hereinafter referred to collectively as the "Parties." 

I.     SERVICES AND DUTIES  

        Beginning on September 15, 2004 (the "Start Date"), SSI will provide the following services to the Company. 

	(A)
	Timetables

        SSI
will advise the Company on the establishment of a comprehensive plan for the development and execution of the Subscription Offering. SSI will assist the Company in establishing a
computer database
that will enable Company to record and maintain records of all subscriptions for shares of the Company's common stock ("Subscription Offers"), account for all subscription proceeds, balance
Subscription Offers to subscription proceeds, and gauge the progress of the capital raising campaign on a daily basis. 

	(B)
	Coordination of Media Campaigns

 Media Announcements  

        SSI
will prepare all layout and design work for the Company's "tombstone" announcements with coupons, and will advise on placement and
related marketing factors, such as location in newspaper, style of announcement, and announcement identification techniques. These announcements and any press releases will be subject to approval by
the Company and review by counsel prior to any publication. SSI acknowledges that any publicity generated prior to completion of the Subscription Offering (such as press releases or interviews granted
by management) may be viewed by the SEC as an attempt to "condition the market" for the stock offering and therefore would be a violation of the SEC's rules. SSI agrees not to create or cause any such
publicity. 

	(C)
	Marketing Overview

        SSI
will advise the Company (Monday through Friday, weekends if necessary) how best to coordinate all aspects of the Company's offering campaign, including advice as to proven marketing
techniques which have been successful in other de novo bank stock offerings. SSI will make sure the organizers of the Bank (the "Organizers") are committed to the offering campaign, as this is an
essential point to a timely completion of the stock sale. 

        SSI
will advise the Organizers on how to allocate each Organizer's fund-raising responsibilities, and will provide advice to the Organizers as to proven marketing techniques
that will enable them to maximize their efforts. Included will be suggested form letters and notices. Investor meetings, including open houses, breakfast meetings, luncheon meetings, and cocktail
receptions are the best settings for introducing the Company to potential investors. 

 

	(D)
	IRA KEOGH, Pension and Profit Sharing Suitability

        SSI
will work with the Company in processing Subscription Offers for all the various types of retirement accounts. If potential investors wish to use retirement funds to invest in the
Company's stock, but do not have a retirement account established or have a custodian that will not process this type of transaction, then SSI will seek out those retirement custodians who will allow
such a transaction. SSI will oversee all retirement account transactions to ensure they are properly initiated and completed in compliance with applicable law. 

	(E)
	Staffing

        During
the term of this Agreement, SSI will locate one Series 7 registered representative at the Company's offices in Easley, South Carolina and provide the assistance of such
other employees or representatives as may be appropriate (including up to two broker's assistants) to provide the services called for by this Agreement or otherwise provided by SSI to the Company. 

	(F)
	Privacy Policy

        SSI
will not remove from the Company any list that has been compiled by the Company. All computer discs or hard-copy lists of prospects, subscribers and shareholders, whether
produced by
the Company, SSI, or any of their respective employees, agents, representatives or affiliates, are and will remain the sole property of the Company and will not be removed from the premises by SSI or
any of SSI's employees, agents, representatives or affiliates. Likewise, any and all information gained by or given to SSI and its employees, agents, representatives or affiliates during the course of
the Subscription Offering about the Company, its business plan, financial projections, marketing strategies, Organizers, Subscription Offering, and subscribers shall be and remain confidential, and
neither SSI nor any of its employees, agents, representatives or affiliates shall disclose any such information to any other person, or utilize any such information for any purpose other than on the
Company's behalf, without the prior written consent of the Company. 

	(G)
	Sponsoring Dealer

        The
Company intends to offer and sell the Shares in several states to be agreed upon by the Parties in accordance with such states' "blue sky" regulations. The Parties understand that no
Company securities will be considered for registration by certain state securities regulators unless the application therefor is "sponsored" by a registered dealer. If the Company elects to register
the Subscription Offering in states that require a sponsoring broker dealer, the Company has the option of appointing SSI as its sponsoring dealer. In such capacity, SSI will act as sponsoring dealer
for the account of the Company in connection with effecting the public offer and sale of the Shares to residents of the states where SSI acts as a sponsoring dealer for the Company after the
Registration Statement's effectiveness with the SEC and the Company's filing of the appropriate notice, fee and consent to service of process with the applicable states' securities divisions. SSI will
effect the sale of the Shares in each state on behalf of the Company at a public offering price of $10 per share. The Company acknowledges that SSI has not been, nor will SSI be involved, in the
determination of the public offering price of the Shares. 

        As
soon as practicable following the date on which the applicable state securities divisions where SSI is representing the Company as its sponsoring dealer clears the Subscription
Offering for sale, and continuing until such time as the Subscription Offering is terminated by the Company, SSI shall serve as the selling agent and sponsoring dealer for the Company. SSI will not
have any commitment to acquire any Shares for its own account or with a view to their distribution. SSI is acting as an agent, not as an underwriter, and SSI is not bound hereunder to purchase any
Shares. 

        The
Parties acknowledge that the Shares shall be offered and sold exclusively through certain employees, officers and directors of the Company and, with respect to offers and sales to
residents in 

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states
where SSI is acting as the sponsoring dealer for the Company, by SSI. The Parties also acknowledge that the Shares shall be sold by means of the subscription offer that is attached to and made
part of the Prospectus. 

        SSI
shall perform its duties pursuant to this Agreement in compliance with all applicable federal and state securities laws, and shall solicit subscriptions for the Shares only by means
of the Prospectus and only in such jurisdictions specified by the Company and in which the Company may make such offers and sales. SSI shall not, and shall not permit its employees or agents to, make
any statement or provide any information regarding the Subscription Offering or the Company or the Bank that is inconsistent with the information contained in the Prospectus. 

II.    FEE ARRANGEMENT  

	(A)
	SSI
will be paid the sum of $10,000 upon the acceptance of this Agreement.

	(B)
	For
the first four week period following the Start Date (as defined above), the Company will pay to SSI a fee of $42,500 payable at the beginning of such period. Upon the expiration
of the initial four week period, the Company has the option of extending the term for one or more four week periods or one week periods. At the beginning of each new period, and depending on the
option selected by Company, the Company will pay to SSI a fee of either $42,500 for each four week period or $10,625 for each one week period.

	(C)
	Without
regard to the amount of stock for which Subscription Offers are received, the Company agrees to reimburse SSI for its reasonable out-of-pocket expenses
reasonably incurred in connection with providing the services to the Company called for by this Agreement. These expenses will be presented to the Company at the end of each four week period during
the term of this Agreement. Attachment A, a part of this Agreement, describes the expenses for which reimbursement will be made and the reimbursement policy to be followed. Total expenses for which
the Company will be obligated to reimburse SSI will not exceed $5,000 per monthly period. That limit will be pro rated for a partial week period based on the number of days in that period during which
this Agreement was in effect.

	(D)
	If
the Company elects to engage SSI as a sponsoring broker dealer, the Company shall pay SSI an addition engagement fee of $10,000 for the first state and a $2,500 fee for each
additional state requiring a sponsoring broker dealer. 

III.  TERM OF AGREEMENT  

        The term of this Agreement shall begin on the Start Date and end on October 13, 2004, but the term may be extended at the Company's discretion for one or
more additional periods as described in Section II(B) above. However, (i) this Agreement may be terminated at any time, whether at the end of its term or otherwise, at the option of SSI
or the Company upon ten days written notice to the other, and (ii) notwithstanding the termination of this Agreement at the end of its term or otherwise, SSI's and the Company's agreements,
representatives and warranties under Sections IV and V below, and the indemnification agreements and obligations of SSI and the Company under Sections VI and VII below, shall remain in full
force and effect following any such termination except to the extent that they are expressly terminated by an agreement in writing between SSI and the Company. In the event that this Agreement is
terminated, whether by SSI or the Company, prior to SSI becoming entitled to receive an additional fee as described in Section II(D) above, then SSI shall have no further right, and the Company
shall have no further obligation, with respect to the payment of any such additional fee. 

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IV.    SSI's COVENANTS, REPRESENTATIONS AND WARRANTIES

        SSI
hereby makes the following covenants, representations and warranties with and to the Company, with the understanding that the Company will rely on the same in entering into this
Agreement. 

	(A)
	SSI is registered as a broker-dealer under applicable federal and state law (including South Carolina and the other states in which SSI
serves as the sponsoring dealer), is a member in good standing of the National Association of Securities Dealers, Inc., and has met and will continue to meet all registration, licensing,
financial and reporting requirements it is required to meet under applicable federal and state laws and regulations in order to provide the services SSI has agreed to provide, or that SSI contemplates
that it will provide, to the Company under this Agreement or otherwise in connection with the Subscription Offering.

	(B)
	Each employee, agent, representative or affiliate of SSI that provides any services to the Company under this Agreement or otherwise in
connection with the Subscription Offering will, at the time of providing those services, meet all registration and licensing requirements he or it is required to meet under applicable federal and
state laws and regulations in order to provide those services.

	(C)
	SSI will not provide any service or engage in any activity, and it will not permit SSI or any of its or SSI's employees, agents,
representatives or affiliates to provide any service or engage in any activity, whether pursuant to this Agreement or otherwise in connection with the Subscription Offering, for which it or he does
not have in effect all registrations, licenses and approvals necessary to cause that service or activity to comply with applicable federal and state laws and regulations.

	(D)
	SSI agrees that any employees, agents or representatives of any of SSI or any of SSI's other affiliates which provide any services to
the Company under this Agreement or otherwise in connection with the Subscription Offering will be considered, for purposes of SSI's agreements, representations, warranties and obligations under this
Agreement, to also be employees, agents or representatives of SSI.

	(E)
	Notwithstanding anything contained in this Agreement to the contrary, the terms and conditions of the Subscription Offering as
described in the Company's Prospectus shall control the conduct of the Subscription Offering, and neither, SSI, nor any of their respective employees, agents, representatives or affiliates shall take
any action in connection with the Subscription Offering contrary to those terms and conditions.

	(F)
	In connection with or during the course of the Subscription Offering, neither SSI nor any employee, agent, representative or affiliate
of SSI will make any representation or provide any information to any subscriber or potential subscriber for shares of the Company's stock other than the representations and information contained in
the Prospectus or other information specifically approved by the Company's President.

	(G)
	During the course of the Subscription Offering, only the Organizers or proposed officers of the Company are authorized to receive or
accept from a subscriber any Subscription Offer and/or payment. In the event that any Subscription Offer or payment comes into the possession of SSI or any of their respective employees, agents,
representatives or affiliates, it or he will immediately deliver the same to an officer or director of the Company for transmittal to the Company's escrow agent.

	(H)
	This Agreement does not create an exclusive arrangement for SSI to provide services to the Organizers or the Company, and nothing in
this Agreement shall preclude the Company from contracting or entering into an 

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	arrangement
with any other sales agent, consultant, broker-dealer or other person for such other person or entity to provide services to the Company as
agent in the Subscription Offering and to receive compensation from the Company in connection with the Subscription Offering.

	(I)
	SSI is registered with the SEC as a broker-dealer and is a member in good standing with the National Association of Securities
Dealers, Inc. (the "NASD"), and SSI and all its agents and representatives have or will have all required licenses and registrations to perform its obligations under this Agreement; and such
registrations, membership and licenses will remain in effect during the term of this Agreement. SSI is also registered as a dealer under the requirements of the respective states where it agrees to
represent the Company as its sponsoring dealer. SSI agrees that, in performing its obligations under this Agreement, SSI will comply with all applicable statutes and the rules and regulations of the
NASD and any other federal or state governmental agency which are applicable to it. SSI shall make all necessary filings with the NASD and/or the applicable state securities regulators in connection
with its services provided hereunder. All terms of this Agreement, including the fee arrangement, are subject to such changes, as any as may be required by the NASD.

	(J)
	This Agreement has been duly and validly authorized, executed and delivered by SSI and is its valid and binding agreement and
obligation. 

V.     COMPANY'S COVENANTS, REPRESENTATIONS AND WARRANTIES  

        The Company hereby makes the following covenants, representations and warranties with and to SSI, with the understanding that SSI will rely on the same in
entering into this Agreement. 

	(A)
	An application has been duly filed with the South Carolina Commissioner of Financial Institutions (the "Commissioner") for approval of
the Bank's South Carolina charter. The Company currently is not aware of any reason why the Bank's application will not be approved.

	(B)
	An application has been duly filed with the Federal Deposit Insurance Corporation for approval of federal deposit insurance for the
Bank's deposit accounts, and approval of that application is pending. The Company currently is not aware of any reason why the Bank's application will not be approved.

	(C)
	The Subscription Offering has been registered under the Securities Act of 1933 (the "1933 Act").

	(D)
	The Company will not solicit or accept a Subscription Offer from a resident of any state unless it shall have determined to its
satisfaction, based on the advice of its legal counsel, that an offer of a subscription for shares of the Company's common stock is registered or qualified under the securities laws of that state.

	(E)
	During the course of the Subscription Offering, all funds received by the Company from subscribers shall be held in an escrow account
as described in the Prospectus and, following receipt by the Company, each Subscription Offer received, together with funds for the purchase of shares covered thereby, shall be transmitted promptly by
the Company to its escrow agent.

	(F)
	If SSI is required to make any filings with the NASD or any applicable state securities divisions where SSI is acting as the sponsoring
dealer for the Company in connection with this Subscription Offering, the Company will apply its best efforts to cooperate with SSI. The Company covenants that it will not commence the Subscription
Offering in any states where 

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SSI
is representing it as its sponsoring dealer until such time as SSI has received any required approvals from the applicable state securities division. 

VI.   INDEMNIFICATION BY THE COMPANY  

	(A)
	The Company agrees to indemnify and hold harmless SSI, and its officers, directors, agents, representatives and affiliates and any
other person, if any, who controls SSI or its affiliates within the meaning of Section 15 of the Securities Act of 1933 (these parties together with SSI are hereinafter referred to as the
"Saxony Indemnitees") against any and all losses, claims, damages, liabilities and expenses (including reasonable costs of investigation and counsel's fees) arising out of or based upon the actions of
the Company or any of its employees, agents, representatives or affiliates (i) that constitute bad faith or gross negligence on the part of the Company or its employee, agent, representative or
affiliate, (ii) that constitute violations of applicable federal or state laws or regulations on the part of the Company or its employee, agent, representative or affiliate, or
(iii) that constitute a violation of any of the Company's agreements, representations or warranties contained in this Agreement. The Company will reimburse SSI and the Saxony Indemnitees for
any legal or other expenses reasonably incurred (individually or collectively) by it or them in connection with investigating or defending any such loss, claim, damage, liability or action. However,
the Company will not be responsible for (i) any losses, claims, damages, liabilities or expenses that result from bad faith or gross negligence on the part of SSI or any of its employees,
agents, representatives or affiliates, or on the part of the Saxony Indemnitee, (ii) that arise out of actions or conduct by SSI or any of its employees, agents, representatives or affiliates,
or by any Saxony Indemnitee, that constitute a violation of any applicable federal or state law or regulation, or (iii) that arise out of actions or conduct by SSI or any of its employees,
agents, representatives or affiliates, or by any SSI Indemnitee, that constitutes a violation of any of SSI's agreements, representations or warranties contained in this Agreement.

	(B)
	If any action or claim shall be brought or asserted against a Saxony Indemnitee in respect of which indemnity may be sought from the
Company, it or he shall promptly notify the Company in writing, enclosing copies of all papers served on or delivered to such party. A failure to notify or delay in notifying the Company shall not
affect the right of the Saxony Indemnitee to be indemnified or reimbursed hereunder except to the extent the Company is shown to have been materially prejudiced as a result of such failure. No Saxony
Indemnitee shall settle, compromise or consent to the entry of any judgment with respect to any litigation, investigation or proceeding commenced or threatened by any person or entity, including any
governmental agency or body, or any claim whatsoever in respect of which indemnification or contribution can be sought under this Section VI (whether or not the Saxony Indemnitees are actual or
potential parties thereto), unless SSI or the Saxony Indemnitee obtains the prior written consent of the Company. 

VII. INDEMNIFICATION BY SSI  

	(A)
	SSI agrees to indemnify and hold harmless the Company, and its officers, directors, agents, organizers, representatives and affiliates
and any other person, if any, who controls the Company or its affiliates within the meaning of Section 15 of the Securities Act of 1933 (these parties together with the Company are hereinafter
referred to as the "Company Indemnitees") against any and all losses, claims, damages, liabilities and expenses (including reasonable costs of investigation and counsel's fees) arising out of or based
upon the actions of SSI or any of their respective employees, agents, representatives or affiliates (i) that constitute bad faith or gross negligence on the part of SSI or any of its employees,
agents, representatives or affiliates, (ii) that constitute violations of applicable federal or state laws or regulations on the 

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part
of SSI or any of its employees, agents, representatives or affiliates, or (iii) that constitutes a violation of any of SSI's agreements, representations or warranties contained in this
Agreement. SSI will reimburse the Company and the Company Indemnitees for any legal or other expenses reasonably incurred (individually or collectively) by it or them in connection with investigating
or defending any such loss, claim, damage, liability or action. However, SSI will not be responsible for (i) any losses, claims, damages, liabilities or expenses that result from bad faith or
gross negligence on the part of the Company or any of its employees, agents, representatives or affiliates, or on the part of the Company Indemnitee, (ii) that arise out of actions or conduct
by the Company or any of its employees, agents, representatives or affiliates, or by the Company, that constitute a violation of any applicable federal or state law or regulation, or (iii) that
constitutes a violation of any of the Company's agreements, representations or warranties contained in this Agreement. 

	(B)
	If any action or claim shall be brought or asserted against a Company Indemnitee in respect of which indemnity may be sought from SSI,
it or he shall promptly notify SSI in writing, enclosing copies of all papers served on or delivered to such party. A failure to notify or delay in notifying SSI shall not affect the right of the
Company Indemnitee to be indemnified or reimbursed hereunder except to the extent SSI is shown to have been materially prejudiced as a result of such failure. No Company Indemnitee shall settle,
compromise or consent to the entry of any judgment with respect to any litigation, investigation or proceeding commenced or threatened by any person or entity, including any governmental agency or
body, or any claim whatsoever in respect of which indemnification or contribution can be sought under this Section VII (whether or not the Company Indemnitees are actual or potential parties
thereto), unless the Company obtains the prior written consent of SSI.

	(C)
	SSI agrees to indemnify and hold harmless the Company Indemnitees against any and all losses, liabilities, claims, damages and expenses
to which it or they may become subject if such losses, liabilities, claims, damages or expenses arise solely out of, or are based solely on, (i) any untrue or alleged untrue statement of
material fact contained in the Prospectus or any amendment or supplement thereto, or the omission of a material fact required to be stated therein, or necessary to make the statements therein not
misleading, but only if such untrue statement or omission or alleged omission was made in the Prospectus (as amended or supplemented) based upon and in conformity with written information concerning
SSI furnished to the Company by SSI specifically for use in the Prospectus or (ii) any untrue or alleged untrue statement of material fact contained in any other information (whether oral or in
writing) provided by SSI or any of their respective employees, agents, representatives or affiliates to the Company or any other person in the course of providing services pursuant to this Agreement
or otherwise in connection with the Subscription Offering. 

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Signature Page    
    

        The undersigned agree to the terms and conditions as outlined in this Agreement. 

	 	 	SAXONY SECURITIES, INC.
	
 	
 	

By:	
 	

/s/  RICHARD E. GRIFFARD      
 Richard E. Griffard, President
	

 	
 	
COMMUNITYSOUTH BANCSHARES, INC.
	

 	
 	

By:	
 	

/s/  C. ALLAN DUCKER, III      
 C. Allan Ducker III, CEO

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ATTACHMENT A    
    

MEALS  

        Up to $35 a day per person with receipts attached to expense reports. 

MILEAGE/AIRFARE  

        $.36 per mile on direct business related travel with personal cars. All mileage is to be logged on a daily basis on expense reports. Local travel to and from the
Company's office is not reimbursable. When traveling by air, the lowest cost available will be used. 

LODGING  

        The lowest cost alternative to the Company will be used commensurate with reasonable safety and cleanliness for our staff. 

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Exhibit 10.7  

 
 

EMPLOYMENT AGREEMENT    
    

        THIS EMPLOYMENT AGREEMENT (this "Agreement") dated as of July 1, 2004, is made by and between CommunitySouth Bancshares, Inc., a South Carolina
corporation (the "Company"), which will be the holding company for CommunitySouth Bank (Proposed), a proposed South Carolina state bank (the "Bank"), and John W. Hobbs, an individual resident of South
Carolina (the "Executive"). 

        The
Employer is in the process of organizing the Bank, and the Executive has agreed to serve as Executive Vice President and Chief Financial Officer of the Bank and the Company. Upon
completion of the organization of the Bank, the Bank will automatically become a party to this Agreement, and all references to the term "Employer" as used herein shall refer to the Company and the
Bank. 

        The
Employer recognizes that the Executive's contribution to the growth and success of the Bank during its organization and initial years of operations will be a significant factor in
the success of the Bank. The Employer desires to provide for the employment of the Executive in a manner which will reinforce and encourage the dedication of the Executive to the Bank and promote the
best interests of the Bank and its shareholders. The Executive is willing to serve the Employer on the terms and conditions herein provided. Certain terms used in this Agreement are defined in
Section 17 hereof. 

        This
Agreement will be submitted to the FDIC and the South Carolina Board of Financial Institutions in connection with the regulatory applications related to the formation of the Bank.
The parties hereto agree to any amendments to this Agreement as may be required in connection with obtaining such regulatory approvals. 

        In
consideration of the foregoing, the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as follows: 

        1.    Employment.    The Employer shall employ the Executive, and the Executive shall serve the Employer, as Executive
Vice President and Chief Financial Officer of the Bank and as Executive Vice President and Chief Financial Officer of the Company upon the terms and conditions set forth herein. The Executive shall
have such authority and responsibilities consistent with his position as are set forth in the Company's or the Bank's Bylaws or assigned by the Company's or the Bank's Chief Executive Officer or Board
of Directors (collectively, the "Board") from time to time. The Executive shall devote his full business time, attention, skill and efforts to the performance of his duties hereunder, except during
periods of illness or periods of vacation and leaves of absence consistent with Bank policy. The Executive may devote reasonable periods to service as a director or advisor to other organizations, to
charitable and community activities, and to managing his personal investments, provided that such activities do not materially interfere with the
performance of his duties hereunder and are not in conflict or competitive with, or adverse to, the interests of the Company or the Bank. 

        2.    Term.    Unless earlier terminated as provided herein, the Executive's employment under this Agreement shall
commence on the date hereof and be for a term (the "Term") of two years. At the end of each day of the Term, the Term shall be extended for an additional day so that the remaining term shall continue
to be two years; provided that the Executive or the Bank may at any time, by written notice, fix the Term to a finite term of two years commencing with
the date of the notice. 

        3.    Compensation and Benefits.    

        (a)   Starting
July 1, 2004, the Employer shall pay the Executive an initial annual base salary of $90,000, plus yearly medical, dental, vision and disability insurance
premium in amounts to be determined by the Board. Prior to the date the Bank opens for business to the public (the "Opening Date"), the salary will be paid bi-monthly. Following the
Opening Date, the salary will be paid in accordance with the Bank's standard payroll procedures. The Board (or an appropriate 

 

committee
of the Board) shall review the Executive's performance and salary at least annually and may increase the Executive's base salary if it determines in its sole discretion that an additional
increase is appropriate. 

        (b)   The
Executive shall participate in the Employer's long-term equity incentive program and be eligible for the grant of stock options, restricted stock, and
other awards thereunder or under any similar plan adopted by the Employer. As soon as an appropriate stock option plan is adopted by the Board, the Company shall grant to the Executive an option to
purchase a number of shares of Common Stock equal to 1.66% of the number of shares actually sold in the offering. The award agreement for the stock option shall provide that one-third of
the shares subject to the
option will vest on each of the first three anniversaries of the Opening Date, but only if the Executive remains employed by the Company or one of its subsidiaries on such date, and shall contain
other customary terms and conditions. The exercise price of the options will be equal to the fair market value of the stock on the date of grant. 

        (c)   The
Executive shall participate in all retirement, welfare, health, and other benefit plans or programs of the Employer now or hereafter applicable generally to
employees of the Employer or to a class of employees that includes senior executives of the Employer. 

        (d)   The
Employer shall reimburse the Executive for reasonable travel and other expenses related to the Executive's duties, including cell phone expenses, which are incurred
and accounted for in accordance with the normal practices of the Employer. 

        (e)   The
Employer shall provide the Executive with four weeks' paid vacation per year, which shall be taken in accordance with any banking rules or regulations governing
vacation leave. The Executive will receive 10 days of paid vacation for the remainder of 2004. 

        (f)    The
Employer will reimburse the Executive for packing and movement of household goods and furniture related to the Executive's relocation to the Executive's new work
location up to $5,000.00. The Employer will also reimburse closing costs with a maximum reimbursement of $5,000.00. In the event the Executive should leave the Employer within 12 months of the
Executive's start date, any relocation expenses must be returned to the Employer in full. The Executive will be required to reimburse the Employer for 50% of any relocation expenses if the Executive
leaves the Employer anytime between 13 and 24 months of the start date. 

        4.    Termination.    

        (a)   The
Executive's employment under this Agreement may be terminated prior to the end of the Term only as provided in this Section 4. 

        (b)   The
Agreement will be terminated upon the death of the Executive. In this event, the Executive's estate shall receive any sums due him as base salary and/or
reimbursement of expenses through the end of the month during which death occurred, plus any bonus earned or accrued through the date of death (including any amounts awarded for previous years but
which were not yet vested). 

        (c)   The
Employer may terminate this Agreement upon the disability of the Executive for a period of 180 days which, in the opinion of the Board of Directors, renders
him unable to perform the essential functions of his job and for which reasonable accommodation is unavailable. For purposes of this Agreement, a "disability" is defined as a physical or mental
impairment that substantially limits one or more major life activities, and a "reasonable accommodation" is one that does not impose an undue hardship on the Employer. During the period of any
incapacity leading up to the termination of the Executive's employment under this provision, the Employer shall continue to pay the Executive his full base salary at the rate then in effect and all
perquisites and other benefits (other than any bonus) until the Executive becomes eligible for benefits under 

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any
long-term disability plan or insurance program maintained by the Employer, provided that the amount of any such payments to the Executive shall be reduced by the sum of the amounts, if
any, payable to the Executive for the same period under any other disability benefit or pension plan covering the Executive. Furthermore, the Executive shall receive any bonus earned or accrued
through the date of incapacity (including any amounts awarded for previous years but which were not yet vested). 

        (d)   The
Employer may terminate this Agreement for Cause upon delivery of a Notice of Termination to the Executive. If the Executive's employment is terminated for Cause
under this provision, the Executive shall receive only any sums due him as base salary and/or reimbursement of expenses through the date of such termination. 

        (e)   The
Employer may terminate this Agreement without Cause upon delivery of a Notice of Termination to the Executive. If the Executive's employment is terminated without
Cause under this provision, the Employer shall pay to the Executive severance compensation in an amount equal to 100% of his then current monthly base salary each month for 12 months from the
date of termination, plus any bonus earned or accrued through the date of termination (including any amounts awarded for previous years but which were not yet vested). 

        (f)    The
Executive may terminate this Agreement at any time by delivering a Notice of Termination. If the Executive resigns under this provision, the Executive shall receive
any sums due him as base salary and/or reimbursement of expenses through the date of such termination. 

        (g)   The
Executive may terminate this Agreement for Good Reason upon delivery of a Notice of Termination to the Employer within a 90-day period beginning on the
30th day after the occurrence of a Change in Control or within a 90-day period beginning on the one year anniversary of the occurrence of a Change in Control. If the Executive's employment
is terminated by the Executive pursuant to this provision, in addition to other rights and remedies available in law or equity, the Executive shall be entitled to the following: 

          (i)  the
Employer shall pay the Executive in cash within fifteen days of the date of termination severance compensation in an amount equal to his then current monthly base
salary multiplied by 24, plus any bonus earned or accrued through the date of termination (including any amounts awarded for previous years but which were not yet vested); 

         (ii)  for
a period of two years, the Employer shall at its expense continue on behalf of the Executive (but not the Executive's family) the life insurance, disability,
medical, dental, and hospitalization benefits provided (x) to the Executive at any time during the 90-day period prior to the Change in Control or at any time thereafter or
(y) to other similarly situated executives who continue in the employ of the Employer. Such coverage and benefits (including deductibles and costs) shall be no less favorable to the Executive
than the most favorable of such coverages and benefits referred to above. The Employer's obligation hereunder with respect to the foregoing benefits shall be limited to the extent that the Executive
obtains any such benefits pursuant to a subsequent employer's benefit plans, in which case the Employer may reduce the coverage of any benefits it is required to provide the Executive hereunder as
long as the aggregate coverages and benefits of the combined benefit plans is no less favorable to the Executive than the coverages and benefits required to be provided hereunder. This subsection
(ii) shall not be interpreted so as to limit any benefits to which the Executive may be entitled under any of the Employer's employee benefit plans, programs, or practices following the
Executive's termination of employment, including, without limitation, retiree medical and life insurance benefits; and 

3

 

        (iii)  the
restrictions on any outstanding incentive awards (including restricted stock) granted to the Executive under the Company's or the Bank's long-term
equity incentive program or any other incentive plan or arrangement shall lapse and such awards shall become 100% vested, all stock options and stock appreciation rights granted to the Executive shall
become immediately exercisable and shall become 100% vested, all performance units granted to the Executive shall become 100% vested, and the restrictive covenants contained in Section 9 shall
not apply to the Executive. 

        (h)   The
Employer may terminate this Agreement if its effort to organize the Bank is abandoned, or if the Company or the Bank receives notice or otherwise has reason to
believe that it will not receive approval of any bank regulatory application in connection with the formation of the Bank and the Board determines in good faith that the Executive's actions,
inactions, lack of experience, or background was a material factor in the failure to obtain such approval. If the Executive's employment is terminated under this provision, the Employer shall pay to
the Executive severance compensation in an amount equal to 100% of his then current monthly base salary each month for six months from the date of termination, but shall not be obligated to pay any
portion of any bonus. 

        (i)    With
the exceptions of the provisions of this Section 4, and the express terms of any benefit plan under which the Executive is a participant, it is agreed that,
upon termination of the Executive's employment, the Employer shall have no obligation to the Executive for, and the Executive waives and relinquishes, any further compensation or benefits (exclusive
of COBRA benefits). Unless otherwise
stated in this Section 4, the effect of termination on any outstanding incentive awards, stock options, stock appreciation rights, performance units, or other incentives shall be governed by
the terms of the applicable benefit or incentive plan and/or the agreements governing such incentives. At the time of termination of employment, the Employer and the Executive shall enter into a
mutually satisfactory form of release acknowledging such remaining obligations and discharging both parties, as well as the Employer's officers, directors and employees with respect to their actions
for or on behalf of the Employer, from any other claims or obligations arising out of or in connection with the Executive's employment by the Employer, including the circumstances of such termination. 

        (j)    The
parties intend that the severance payments and other compensation provided for herein are reasonable compensation for the Executive's services to the Employer and
shall not constitute "excess parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986 and any regulations thereunder. In the event that the Employer's
independent accountants acting as auditors for the Employer on the date of a Change in Control determine that the payments provided for herein constitute "excess parachute payments," then the
compensation payable hereunder shall be reduced to an amount the value of which is $1.00 less than the maximum amount that could be paid to the Executive without the compensation being treated as
"excess parachute payments" under Section 280G. The allocations of the reduction required hereby among the termination benefits payable to the Executive shall be determined by the Executive. 

        5.    Ownership of Work Product.    The Employer shall own all Work Product arising during the course of the
Executive's employment (prior, present or future). For purposes hereof, "Work Product" shall mean all intellectual property rights, including all Trade Secrets, U.S. and international copyrights,
patentable inventions, and other intellectual property rights in any programming, documentation, technology or other work product that relates to the Employer, its business or its customers and that
the Executive conceives, develops, or delivers to the Employer at any time during his employment, during or outside normal working hours, in or away from the facilities of the Employer, and whether or
not requested by the Employer. If the Work Product contains any materials, programming or intellectual property rights that the Executive conceived or 

4

 

developed
prior to, and independent of, the Executive's work for the Employer, the Executive agrees to point out the pre-existing items to the Employer and the Executive grants the
Employer a worldwide, unrestricted, royalty-free right, including the right to sublicense such items. The Executive agrees to take such actions and execute such further acknowledgments and
assignments as the Employer may reasonably request to give effect to this provision. 

        6.    Protection of Trade Secrets.    The Executive agrees to maintain in strict confidence and, except as necessary
to perform his duties for the Employer, the Executive agrees not to use or disclose any Trade Secrets of the Employer during or after his employment. "Trade Secret" means information, including a
formula, pattern, compilation, program, device, method, technique, process, drawing, cost data or customer list, that: (i) derives economic value, actual or potential, from not being generally
known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and (ii) is the subject of efforts that are reasonable
under the circumstances to maintain its secrecy. 

        7.    Protection of Other Confidential Information.    In addition, the Executive agrees to maintain in strict
confidence and, except as necessary to perform his duties for the Employer, not to use or disclose any Confidential Business Information of the Employer during his employment and for a period of
24 months following termination of the Executive's employment. "Confidential Business Information" shall mean any internal, non-public information (other than Trade Secrets already
addressed above) concerning the Employer's financial position and results of operations (including revenues, assets, net income, etc.); annual and long-range business plans; product or
service plans; marketing plans and methods; training, educational and administrative manuals; customer and supplier information and purchase histories; and employee lists. The provisions of Sections 6
and 7 shall also apply to protect Trade Secrets and Confidential Business Information of third parties provided to the Employer under an obligation of secrecy. 

        8.    Return of Materials.    The Executive shall surrender to the Employer, promptly upon its request and in any
event upon termination of the Executive's employment, all media, documents, notebooks, computer programs, handbooks, data files, models, samples, price lists, drawings, customer lists, prospect data,
or other material of any nature whatsoever (in tangible or electronic form) in the Executive's possession or control, including all copies thereof, relating to the Employer, its business, or its
customers. Upon the request of the Employer, the Executive shall certify in writing compliance with the foregoing requirement. 

        9.    Restrictive Covenants.    

        (a)   No Solicitation of Customers.    During the Executive's employment with the Employer and for a period of
12 months thereafter, the Executive shall not (except on behalf of or with the prior written consent of the Employer), either directly or indirectly, on the Executive's own behalf or in the
service or on behalf of others, (A) solicit, divert, or appropriate to or for a Competing Business, or (B) attempt to solicit, divert, or appropriate to or for a Competing Business, any
person or entity that is or was a customer of the Employer or any of its Affiliates at any time during the 12 months prior to the date of termination and with whom the Executive has had
material contact. 

        (b)   No Recruitment of Personnel.    During the Executive's employment with the Employer and for a period of
12 months thereafter, the Executive shall not, either directly or indirectly, on the Executive's own behalf or in the service or on behalf of others, (A) solicit, divert, or hire away,
or (B) attempt to solicit, divert, or hire away, to any Competing Business located in the Territory, any employee of or consultant to the Employer or any of its Affiliates, regardless of
whether the employee or consultant is full-time or temporary, the employment or engagement is pursuant to written agreement, or the employment is for a determined period or is at will. 

5

 

        (c)   Non-Competition Agreement.    During the Executive's employment with the Employer and for a period
of 12 months thereafter, the Executive shall not (without the prior written consent of the Employer) compete with the Employer or any of its Affiliates by, directly or indirectly, forming,
serving as an organizer, director or officer of, or consultant to, or acquiring or maintaining more than a 1% passive investment in, a depository financial institution or holding company therefor if
such depository institution or holding company has one or more offices or branches located in the Territory. Notwithstanding the foregoing, the Executive may serve as an officer of or consultant to a
depository institution or holding company therefor even though such institution operates one or more offices or branches in the Territory, if the Executive's employment does not directly involve, in
whole or in part, the depository financial institution's or holding company's operations in the Territory. 

        10.    Independent Provisions.    The provisions in each of the above Sections 9(a), 9(b), and 9(c) are independent,
and the unenforceability of any one provision shall not affect the enforceability of any other provision. 

        11.    Successors; Binding Agreement.    The rights and obligations of this Agreement shall bind and inure to the
benefit of the surviving corporation in any merger or consolidation in which the Employer is a party, or any assignee of all or substantially all of the Employer's business and properties. The
Executive's rights and obligations under this Agreement may not be assigned by him, except that his right to receive accrued but unpaid compensation, unreimbursed expenses and other rights, if any,
provided under this Agreement which survive termination of this Agreement shall pass after death to the personal representatives of his estate. 

        12.    Notice.    For the purposes of this Agreement, notices and all other communications provided for in the
Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, addressed to the respective
addresses last given by each party to the other; provided, however, that all notices to the Employer
shall be directed to the attention of the Employer with a copy to the Secretary of the Employer. All notices and communications shall be deemed to have been received on the date of delivery thereof. 

        13.    Governing Law.    This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of South Carolina without giving effect to the conflict of laws principles thereof. Any action brought by any party to this Agreement shall be brought and maintained in a court of competent
jurisdiction in State of South Carolina. 

        14.    Non-Waiver.    Failure of the Employer to enforce any of the provisions of this Agreement or any
rights with respect thereto shall in no way be considered to be a waiver of such provisions or rights, or in any way affect the validity of this Agreement. 

        15.    Enforcement.    The Executive agrees that in the event of any breach or threatened breach by the Executive of
any covenant contained in Section 9(a), 9(b), or 9(c) hereof, the resulting injuries to the Employer would be difficult or impossible to estimate accurately, even though irreparable injury or
damages would certainly result. Accordingly, an award of legal damages, if without other relief, would be inadequate to protect the Employer. The Executive, therefore, agrees that in the event of any
such breach, the Employer shall be entitled to obtain from a court of competent jurisdiction an injunction to restrain the breach or anticipated breach of any such covenant, and to obtain any other
available legal, equitable, statutory, or contractual relief. Should the Employer have cause to seek such relief, no bond shall be required from the Employer, and the Executive shall pay all
attorney's fees and court costs which the Employer may incur to the extent the Employer prevails in its enforcement action. 

6

 

        16.    Saving Clause.    The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision or clause of this Agreement, or portion thereof, shall be held by any
court or other tribunal of competent jurisdiction to be illegal, void, or unenforceable in such jurisdiction, the remainder of such provision shall not be thereby affected and shall be given full
effect, without regard to the invalid portion. It is the intention of the parties that, if any court construes any provision or clause of this Agreement, or any portion thereof, to be illegal, void,
or unenforceable because of the duration of such provision or the area or matter covered thereby, such court shall reduce the duration, area, or matter of such provision, and, in its reduced form,
such provision shall then be enforceable and shall be enforced. The Executive and the Employer hereby agree that they will negotiate in good faith to amend this Agreement from time to time to modify
the terms of Sections 9(a), 9(b), and 9(c), the definition of the term "Territory," and the definition of the term "Business," to reflect changes in the Employer's business and affairs so that the
scope of the limitations placed on the Executive's activities by Section 9 accomplishes the parties' intent in relation to the then current facts and circumstances. Any such amendment shall be
effective only when completed in writing and signed by the Executive and the Employer. 

        17.    Certain Definitions.    

        (a)   "Affiliate" shall mean any business entity controlled by, controlling or under common control with the Employer. 

        (b)   "Business" shall mean the operation of a depository financial institution, including, without limitation, the
solicitation and acceptance of deposits of money and commercial paper, the solicitation and funding of loans and the provision of other banking services, and any other related business engaged in by
the Employer or any of its Affiliates as of the date of termination. 

        (c)   "Cause" shall consist of any of (A) the commission by the Executive of a willful act (including, without
limitation, a dishonest or fraudulent act) or a grossly negligent act, or the willful or grossly negligent omission to act by the Executive, which is intended to cause, causes or is reasonably likely
to cause material harm to the Employer (including harm to its business reputation), (B) the indictment of the Executive for the commission or perpetration by the Executive of any felony or any
crime involving dishonesty, moral turpitude or fraud, (C) the material breach by the Executive of this Agreement that, if susceptible of cure, remains uncured ten days following written notice
to the Executive of such breach, (D) the receipt of any form of notice, written or otherwise, that any regulatory agency having jurisdiction over the Employer intends to institute any form of
formal or informal (e.g., a memorandum of understanding which relates to the Executive's performance) regulatory action against the Executive or the
Employer or the Employer (provided that the Board of Directors determines in good faith that the subject matter of such action involves acts or
omissions by or under the supervision of the Executive or that termination of the Executive would materially advance the Employer's compliance with the purpose of the action or would materially assist
the Employer in avoiding or reducing the restrictions or adverse effects to the Employer related to the regulatory action); (E) the exhibition by the Executive of a standard of behavior within
the scope of his employment that is materially disruptive to the orderly conduct of the Employer's business operations (including, without limitation, substance abuse or sexual misconduct) to a level
which, in the Board of Directors' good faith and reasonable judgment, with the Executive abstaining from participating in the consideration of and vote on the matter, is materially detrimental to the
Employer's best interest, that, if susceptible of cure remains uncured ten days following written notice to the Executive of such specific inappropriate behavior; or (F) the failure of the
Executive to devote his full business time and attention to his employment as provided under this Agreement that, if susceptible of cure, remains uncured 30 days following written notice to the
Executive of such failure. In order 

7

 

for
the Board of Directors to make a determination that termination shall be for Cause, the Board must provide the Executive with an opportunity to meet with the Board in person. 

        (d)   "Change in Control" shall mean the occurrence during the Term of any of the following events, unless such event is a
result of a Non-Control Transaction: 

          (i)  The
individuals who, as of the date of this Agreement, are members of the Board of Directors of the Company (the "Incumbent Board") cease for any reason to constitute
at least 50% of the Board of Directors of the Company; provided, however, that if the election, or
nomination for election by the Company's shareholders, of any new director was approved in advance by a vote of at least 50% of the Incumbent Board, such new director shall, for purposes of this
Agreement, be considered as a member of the Incumbent Board; provided, further, that no individual shall
be considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual or threatened election contest, or other actual or threatened solicitation of
proxies or consents by or on behalf of any person other than the Board of Directors of the Company, including by reason of any agreement intended to avoid or settle any election contest or proxy
contest. 

         (ii)  An
acquisition (other than directly from the Company) of any voting securities of the Company (the "Voting Securities") by any "Person" (as the term "person" is used
for purposes of Section 13(d) or
14(d) of the Exchange Act) immediately after which such Person has "Beneficial Ownership" (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of the
combined voting power of the Company's then outstanding Voting Securities; provided, however, that in
determining whether a Change in Control has occurred, Voting Securities which are acquired in a Non-Control Acquisition shall not constitute an acquisition which would cause a Change in
Control. 

        (iii)  Consummation
of: (i) a merger, consolidation, or reorganization involving the Company; (ii) a complete liquidation or dissolution of the Company; or
(iii) the sale or other disposition of all or substantially all of the assets of the Company to any Person (other than a transfer to a Subsidiary). 

        (iv)  A
notice of an application is filed with the South Carolina Board of Financial Institutions or the Federal Reserve Board or any other bank or thrift regulatory approval
(or notice of no disapproval) is granted by the Federal Reserve, South Carolina Board of Financial Institutions, the OCC, the Federal Deposit Insurance Corporation, or any other regulatory authority
for permission to acquire control of the Company or any of its banking subsidiaries; provided that if the application is filed in connection with a transaction which has been approved by the Board,
then the Change in Control shall not be deemed to occur until consummation of the transaction. 

        (e)   "Competing Business" shall mean any business that, in whole or in part, is the same or substantially the same as the
Business. 

        (f)    "Good Reason" shall mean the occurrence after a Change in Control of any of the events or conditions described in
subsections (i) through (viii) hereof: 

          (i)  a
change in the Executive's status, title, position or responsibilities (including reporting responsibilities) which, in the Executive's reasonable judgment, represents
an adverse change from his status, title, position or responsibilities as in effect at any time within ninety days preceding the date of a Change in Control or at any time thereafter; the assignment
to the Executive of any duties or responsibilities which, in the Executive's reasonable judgment, are inconsistent with his status, title, position or responsibilities as in effect at any time within
ninety days preceding the date of a Change in Control or at 

8

 

any
time thereafter; any removal of the Executive from or failure to reappoint or reelect him to any of such offices or positions, except in connection with the termination of his employment for
Disability or Cause, as a result of his death, or by the Executive other than for Good Reason, or any other change in condition or circumstances that in the Executive's reasonable judgment makes it
materially more difficult for the Executive to carry out the duties and responsibilities of his office than existed at any time within ninety days preceding the date of Change in Control or at any
time thereafter; 

         (ii)  a
reduction in the Executive's base salary or any failure to pay the Executive any compensation or benefits to which he is entitled within five days of the date due; 

        (iii)  the
Employer's requiring the Executive to be based at any place outside a 30-mile radius from the executive offices occupied by the Executive immediately
prior to the Change in Control, except for reasonably required travel on the Employer's business which is not materially greater than such travel requirements prior to the Change in Control; 

        (iv)  the
failure by the Employer to (A) continue in effect (without reduction in benefit level and/or reward opportunities) any material compensation or employee
benefit plan in which the Executive was participating at any time within ninety days preceding the date of a Change in Control or at any time thereafter, unless such plan is replaced with a plan that
provides substantially equivalent compensation or benefits to the Executive, or (B) provide the Executive with compensation and benefits, in the aggregate, at least equal (in terms of benefit
levels and/or reward opportunities) to those provided for under each other employee benefit plan, program and practice in which the Executive was participating at any time within ninety days preceding
the date of a Change in Control or at any time thereafter; 

         (v)  the
insolvency or the filing (by any party, including the Company or the Bank) of a petition for bankruptcy of the Company or the Bank, which petition is not dismissed
within sixty days; 

        (vi)  any
material breach by the Employer of any material provision of this Agreement; 

       (vii)  any
purported termination of the Executive's employment for Cause by the Employer which does not comply with the terms of this Agreement; or 

      (viii)  the
failure of the Employer to obtain an agreement, satisfactory to the Executive, from any successor or assign to assume and agree to perform this Agreement, as
contemplated in Section 11 hereof. 

        Any
event or condition described in clause (i) through (viii) above which occurs prior to a Change in Control but which the Executive reasonably demonstrates (A) was
at the request of a third party, or (B) otherwise arose in connection with, or in anticipation of, a Change in Control which actually occurs, shall constitute Good Reason for purposes of this
Agreement, notwithstanding that it occurred prior to the Change in Control. The Executive's right to terminate his employment for Good Reason shall not be affected by his incapacity due to physical or
mental illness. 

        (g)   "Non-Control Transaction" shall mean a transaction described below: 

          (i)  the
shareholders of the Company, immediately before such merger, consolidation or reorganization, own, directly or indirectly, immediately following such merger,
consolidation or reorganization, at least 50% of the combined voting power of the outstanding voting securities of the corporation resulting from such merger, consolidation 

9

 

or
reorganization (the "Surviving Corporation") in substantially the same proportion as their ownership of the Voting Securities immediately before such merger, consolidation or reorganization; and 

         (ii)  immediately
following such merger, consolidation or reorganization, the number of directors on the board of directors of the Surviving Corporation who were members of
the Incumbent Board shall at least equal the number of directors who were affiliated with or appointed by the other party to the merger, consolidation or reorganization. 

        (h)   "Territory" shall mean a radius of 15 miles from (i) the main office of the Employer or (ii) any branch
office of the Employer. 

        (i)    "Notice of Termination" shall mean a written notice of termination from the Employer or the Executive which specifies an
effective date of termination, indicates the specific termination provision in this Agreement relied upon, and, in the case of a termination for Good Reason or for Cause, sets forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 

        18.    Entire Agreement.    This Agreement constitutes the entire agreement between the parties hereto and supersedes
all prior agreements, if any, understandings and arrangements, oral or written, between the parties hereto with respect to the subject matter hereof. 

        19.    Counterparts.    This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original but all of which together shall constitute one and the same instrument. 

        IN
WITNESS WHEREOF, the Employer has caused this Agreement to be executed and its seal to be affixed hereunto by its officers thereunto duly authorized, and the Executive has signed and
sealed this Agreement, effective as of the date first above written. 

	 	 	 	 	CommunitySouth Bancshares, Inc.
	

ATTEST:	
 	

 	
 	

 
	

By:	
 	

 	
 	

By:	
 	

 
	 	 	
	 	 	 	

	Name:	 	 	 	Name:	 	 
	 	 	
	 	 	 	

	 	 	 	 	Title:	 	 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

EXECUTIVE
	

 	
 	

 	
 	

 John W. Hobbs

10

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EMPLOYMENT AGREEMENT

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