Document:

Third Amendment to Split Dollar Agmt - Thomas Abelmann

 Exhibit 10.19 
 BankFIRST 
 Split Dollar Agreement 
 Third Amendment 
  
 Prepared 09/11/2009 
  
 © 2009 Clark Consulting 
 This document is provided to assist your legal counsel in
documenting your specific arrangement The laws of the various states may differ considerably, and this specimen is for general information only. It is not a form to be signed, nor is it to be construed as legal advice. Failure to accurately document
your arrangement could result in significant losses, whether from claims of those participating in the arrangement, from the heirs and beneficiaries of participants, or from regulatory agencies such as the Internal Revenue Service, the Department of
Labor, or bank examiners. License is hereby granted to your legal counsel to use these materials in documenting solely your arrangement. 
 In
general, if your bank is subject to SEC regulation, implementation of this or any other executive or director compensation program may trigger rules requiring certain disclosures on Form 8-K within four days of implementing the program. Consult with
your SEC attorney, if applicable, to determine your responsibilities under the disclosure rules. 
  

 
 IMPORTANT NOTICE ON CODE SECTION
409A COMPLIANCE 
 It is critical that you consult with your legal and tax advisors to determine the impact of Internal Revenue Code Section
409A to your particular situation. On April 10, 2007 the Treasury Department issued final regulations implementing the requirements of Section 409A which apply to nonqualified deferred compensation arrangements. The regulations
became effective on January 1, 2008. 

 BankFIRST 
 Split Dollar Agreement 
 Third Amendment 

 

 THIRD AMENDMENT TO THE BANKFIRST 

SPLIT DOLLAR AGREEMENT 
 DATED JANUARY 4, 2002 FOR 
 THOMAS P. ABELMANN 

THIS THIRD AMENDMENT is entered into this 8th day of February , 2010 by and between BANKFIRST,
a state-chartered commercial bank located in Winter Park, Florida (the “Company”), and THOMAS P. ABELMANN (“Executive”). 
 WHEREAS, the Company and Executive executed the Split Dollar Agreement on January 4,2002 (the “Agreement”); 
 WHEREAS, the Company and the Executive amended the Agreement on March 18, 2002; 

WHEREAS, the Company and the Executive further amended the Agreement on September 27, 2007; 

WHEREAS, Article 7 of the Agreement provides that the Agreement may be amended upon mutual consent of the parties thereto; and

 WHEREAS, the life insurance policy originally subject to the Agreement has been exchanged for a new policy, which continues
to be subject to the Agreement; and 
 WHEREAS, the parties anticipate the possibility of future policy exchanges; 

NOW, THEREFORE, it is agreed by and between the Company and the Executive as follows: 

Section 1.2 of the Agreement shall be amended and replaced as follows: 

 

	 	1.2	“Insurer” means the insurance company issuing the Policy on the life of the Executive. 

Section 1.3 of the Agreement shall be amended and replaced as follows: 

 

	 	1.3	Policy” or “Policies” means the individual insurance policy or policies adopted by the Company for purposes of insuring the
Executive’s life under this Agreement. 

 All references in the Agreement to Clarica Life Insurance
Company and to Policy Number 641291 shall be hereinafter disregarded. 

  
 1 

 BankFIRST 
 Split Dollar Agreement 
 Third Amendment 

 
  

 IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the date
indicated above. 
  

							
	EXECUTIVE:	 		 	 COMPANY:

BANKFIRST

				
	         /s/ Thomas Abelmann
	 		 	By:	 	     /s/ Carol
Meyer

							
	THOMAS P. ABELMANN	 		 	Title:	 	 SVP/Director of HR

  
 2Third Amendment to Split Dollar Agmt - Thomas Abelmann

 Exhibit 10.20 
 BankFIRST 
 Split Dollar Agreement 
 Third Amendment 
  
 Prepared 09/11/2009 
  
 © 2009 Clark Consulting 
 This document is provided to assist your legal counsel in
documenting your specific arrangement. The laws of the various states may differ considerably, and this specimen is for general information only. It is not a form to be signed, nor is it to be construed as legal advice. Failure to accurately
document your arrangement could result in significant losses, whether from claims of those participating in the arrangement, from the heirs and beneficiaries of participants, or from regulatory agencies such as the Internal Revenue Service, the
Department of Labor, or bank examiners. License is hereby granted to your legal counsel to use these materials in documenting solely your arrangement. 
 In general, if your bank is subject to SEC regulation, implementation of this or any other executive or director compensation program may trigger rules requiring certain disclosures on Form 8-K within
four days of implementing the program. Consult with your SEC attorney, if applicable, to determine your responsibilities under the disclosure rules. 
  

 
 IMPORTANT NOTICE ON CODE SECTION
409A COMPLIANCE 
 It is critical that you consult with your legal and tax advisors to determine the impact of Internal Revenue Code Section
409A to your particular situation. On April 10, 2007 the Treasury Department issued final regulations implementing the requirements of Section 409A which apply to nonqualified deferred compensation arrangements. The regulations became
effective on January 1, 2008. 

 BankFIRST 
 Split Dollar Agreement 
 Third Amendment 

 
  

 THIRD AMENDMENT TO THE BANKFIRST 

SPLIT DOLLAR AGREEMENT DATED JANUARY 4, 2002 
 FOR 
 THOMAS P. ABELMANN 

THIS THIRD AMENDMENT is entered into this 8th day of February, 2010 by and between BANKFIRST, a
state-chartered commercial bank located in Winter Park, Florida (the “Company”), and THOMAS P. ABELMANN (“Executive”). 
 WHEREAS, the Company and Executive executed the Split Dollar Agreement on January 4,2002 (the “Agreement”); 
 WHEREAS, the Company and the Executive amended the Agreement on March 18, 2002; 

WHEREAS, the Company and the Executive further amended the Agreement on September 27, 2007; 

WHEREAS, Article 7 of the Agreement provides that the Agreement may be amended upon mutual consent of the parties thereto; and

 WHEREAS, the life insurance policy originally subject to the Agreement has been exchanged for a new policy, which continues
to be subject to the Agreement; and 
 WHEREAS, the parties anticipate the possibility of future policy exchanges; 

NOW, THEREFORE, it is agreed by and between the Company and the Executive as follows: 

Section 1.2 of the Agreement shall be amended and replaced as follows: 

 

	 	1.2	“Insurer” means the insurance company issuing the Policy on the life of the Executive. 

Section 1.3 of the Agreement shall be amended and replaced as follows: 

 

	 	1.3	“Policy” or “Policies” means the individual insurance policy or policies adopted by the Company for purposes of insuring the
Executive’s life under this Agreement. 

 All references in the Agreement to West Coast Life and to Policy
Number ZUA387237 shall be hereinafter disregarded. 

  
 1 

 BankFIRST 
 Split Dollar Agreement 
 Third Amendment 

 
  

 IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the date
indicated above. 
  

							
	 EXECUTIVE:
	 		 	 COMPANY:
  

BANKFIRST

				
	         /s/ Thomas Abelmann
	 		 	By	 	         /s/ Carol
Meyer

							
	THOMAS P. ABELMANN	 		 	     Title	 	 SVP/Director of HR

  
 2Employment Agreement - Anne Fray

 Exhibit 10.21 
 AGREEMENT 
 THIS AGREEMENT (the “Agreement”) is
made as of this 1st day of February, 2011, by and between BankFIRST, a Florida banking corporation (“Company”) and Anne Kelley Fray (the “Executive”). 

BACKGROUND 
 The purpose of this Agreement is to further strengthen the Executive’s association with the Company and BankFIRST (the “Bank”). This Agreement also recognizes the competitive pressures in
the marketplace for quality employees and seeks to encourage the Executive’s retention as a valued employee of the Bank. As the benefits provided by the Company to Executive in this Agreement represent an aspect of Executive’s
compensation, Executive’s continued employment is deemed consideration for this Agreement. Accordingly, Company and the Executive, intending to be legally bound, hereby agree as follows: 

1. This Agreement contains the entire understanding of the parties hereto and supersedes in all respects any prior agreements or
understandings between the Company and the Executive relating to subject matter hereof, including, without limitation, the Non-Competition and Change of Control Agreement between the Executive and the Company dated as of [April, 19, 2007], which
shall be of no further force or effect. 
 2. Executive Salary. The Executive’s salary shall be $185,000.00 per
annum, paid on the same schedule as all other Bank employees and will be eligible for increases in base salary on an annual basis. In addition, the Employee shall, as further consideration for this Agreement, continue to be included in the bonus
pool and will be eligible to participate in the bank’s stock grant program. 
 3. Noncompetition and
Nonsolicitation. In consideration of the benefits set forth herein in paragraphs 2 and 4, the Executive agrees that for a period of one year following the earlier of (a) the termination of the Executive’s employment with the Bank for
any reason including resignation for other than “good reason” (as those terms are defined herein) (b) the termination of the Executive’s employment with the Bank within one (1) year following a Change in Control, the
Executive will not enter the employ of, or have any interest in, directly or indirectly (either as executive, director, officer, consultant, agent or employee) of any other bank or financial institution or any entity

 
which either accepts deposits or makes loans (whether presently existing or subsequently established) and which has an office located within Orange, Lake and Seminole Counties in Florida. In
addition, during such one-year period, the Executive agrees that the Executive will not (a) solicit for employment by the Executive or anyone else, or employ, any employee of the Bank or any person who was an employee of the Bank within 12
months prior to such solicitation of employment; (b) induce, or attempt to induce, any employee in the Bank to terminate such employee’s employment with the Bank; (c) induce, or attempt to induce, anyone having a business relationship
with the Bank to terminate or curtail such relationship or, on behalf of himself or anyone else, to compete with the Bank; or (d) permit anyone controlled by the Executive, or any person acting on behalf of the Executive or any controlled by an
employee of the Executive, to do any of the foregoing. 
 The Executive’s employment shall be deemed to have been
terminated for “cause” if as a result of the Executive’s (i) failure to comply with the polices of the bank established from time to time in a material fashion, (ii) engaging in conduct involving fraud, deceit, personal
dishonesty (except for unintentional errors), breach of fiduciary or any other reckless or willful misconduct which could have a material adverse affect on the business or reputation of the Bank; (iii) knowingly violating any banking law or
regulation that could have the impact of directly affecting in a materially adverse way the Camels rating of the bank; (iv) becoming subject to continuing intemperance in the use of alcohol or drugs which has adversely affected, or is likely to
adversely affect, the business or reputation of the Bank, or being convicted of a crime involving moral turpitude; (v) filing, or having filed against the Executive, any petition under the Federal bankruptcy laws of any state insolvency laws,
or (vi) the Employee’s gross negligence or the willful and continued failure to perform his/her material duties with respect to the Employer or its affiliates, which continues beyond ten (10) business days after a written demand for
substantial performance specifying such failure(s) is received by Employee from the Employer. 
 The executives resignation
shall be considered for “good reason” if it is a result of: (i) a material reduction in executives base salary,(ii) a material reduction in the scope of executive’s responsibility or duties, or (iii) a material breach by the
bank of the terms of this agreement. 
 4. Termination Rights. If the executive is terminated for any reason except for
“cause” as defined above then the Executive shall have the right to receive upon the termination of the Executive’s employment, a lump sum cash amount (subject to any applicable payroll or other taxes required to be withheld) equal to
one times the Executive’s annual base salary prior to such Change in Control plus one year of health and dental benefits and Interlachen Country Club dues as same existed on termination date subject to any modifications of the group policies by
Employer. 

  
 2 

 5. Term of Employment. The Executive shall be employed by the Company for the one
(1) year period commencing on the Closing Date on the terms and subject to the conditions set forth in this Agreement (including the provisions of Section 6), and provided the Executive’s employment under this Agreement has not been
terminated prior to the first anniversary of the Closing Date, the Executive’s employment under this Agreement shall be automatically extended thereafter for an additional one (1) year period, unless the Company or the Executive provides
the other party hereto at least sixty (60) days’ prior written notice that the Employment Term shall not be so extended (such initial one (1) year term and any subsequent extension thereof, the “Employment Term”).

 6. Miscellaneous. 
 (a) If litigation shall be brought to enforce or interpret any provision contained herein (including, but not limited to any court-ordered mediation, or appellate proceeding), the prevailing party in such
proceeding shall be entitled to recover from the other party its or his costs and expenses incurred (including reasonable attorneys’ fees). 
 (b) This Agreement shall be binding upon and inure to the benefit of the Executive and the Executive’s estate, but may not be assigned or pledged by the Executive. The Company’s obligations are
assignable to any third party or to any person, or to a successor of the Company, upon a Change in Control. 
 (c) This
Agreement may be modified only by an agreement in writing executed by both of the parties hereto. 
 (d) All notices and other
communications hereunder shall be in writing hereunder and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

 

			
	If to Company:	  	BankFIRST
		  	1031 West Morse Boulevard
		  	Winter Park, Florida 32789
		  	Attention: Donald J. McGowan
		  	      President and Chief Executive Officer

 If to the Executive: At the address set forth at the end of this Agreement or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notices and other
communications shall be effective when actually received by the addressee. 

  
 3 

 (e) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Florida. Sole and exclusive venue for any action arising out of this Agreement shall be a state or federal court situated in Orange County, Florida, and by the execution of this Agreement the parties hereby agree to the
personal jurisdiction of such court. 
 (f) Counterparts. This Agreement may be executed in several counterparts each of
which shall be deemed an original, but all of which shall constitute one instrument. 
 (g) Effect on Employment Status.
Nothing in this Agreement is intended to alter Employee’s at-will status with the Company. 
 IN WITNESS WHEREOF,
the parties have executed this Agreement as of the date first above written. 
  

			
	BANKFIRST
		
	By:	 	     /s/ Donald J. McGowan

		
	Its:	 	     President & CEO

	
	EXECUTIVE
	
	         /s/ Anne Fray

	
	   520 N. Phelps Ave. Winter Park

	Address:

  
 4

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