Document:

EX-10.47

CLOSING AGREEMENT

This Agreement is made as of December 31, 2004 by and among CAREPLUS, LLC (“Company”),
AMERIGROUP ACQUISITION CORP. (“Buyer”), AMERIGROUP CORPORATION (“Parent”), and JOSEPH ZAPPALA, as
Agent for the Company Members (“Members’ Agent”).

WITNESSETH:

	 	A.	 	Buyer, Parent and Company have entered into a Merger Agreement dated as of
October 26, 2004 (the “Merger Agreement”) which provides that a Closing will take
place upon the satisfaction or waiver of certain conditions set forth in Article IX of
the Merger Agreement; and

	 	B.	 	The conditions set forth in Article IX of the Merger Agreement have been
either satisfied or waived and the parties desire to fix a Closing Date and provide
for the payment of various funds and delivery of certain documents required by the
Merger Agreement.

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration
the receipt and sufficiency of which is hereby acknowledged, the undersigned parties agree as
follows:

1. The Closing Date is Friday, December 31, 2004, effective as of the Effective Time.
Notwithstanding anything to the contrary in the Merger Agreement (specifically including but not
limited to Section 2.5(c)(i)), the parties agree that the Closing Cash Amount shall be paid on
January 3, 2005.

2. The parties agree that for purposes of this Agreement and the Merger Agreement, “Member
Receivables” means receivables from Company Members which are collected by the Company within three
days after the Closing Date, as set forth on Exhibit A-1 attached to this Agreement. The
amount of Member Receivables at Closing, $2,381,951, will be paid by Agent as provided in paragraph
9 below and shall not be paid from the Escrow Account.

3. The parties agree that the definition of “Receivables” in the Merger Agreement shall be
replaced with the following:

“Receivables” means all of the Company’s trade accounts, receivables from Payors,
reinsurance receivables, claims against Providers and Member Receivables.

The parties further agree that the opening phrase of Section 2.1(c) of the Merger Agreement
shall be replaced with the following:

(c) On the Closing Date, the Assets shall include cash, cash

equivalents, marketable securities, uncleared checks from third parties for
good

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funds, Receivables from Payors, Member Receivables and other short-term
investments in an aggregate amount that shall not be less than:

4. Williams Mullen, counsel to Buyer and Parent, is hereby authorized to release to its
clients all original and other executed documents previously delivered to it in escrow in
connection with the Closing.

5. Kurzman Eisenberg Corbin Lever & Goodman, LLP, counsel to the Company and the Company
Members, is hereby authorized to release to its clients all original and other executed documents
previously delivered to it in escrow in connection with the Closing.

6. Notwithstanding anything to the contrary in the Merger Agreement, Parent will authorize and
direct its bank by letter attached as Exhibit B-1 to wire to the Members’ Agent
$124,936,250.00 o n Monday, January 3 , 2 005, which is the amount o wed from Parent as set forth
on the disbursements page of the Settlement Statement attached as Exhibit C-1 (the
“Settlement Statement”), pursuant to the wire instructions on the Settlement Statement.

7. Notwithstanding anything to the contrary in the Merger Agreement, Parent will authorize and
direct its bank by letter attached as Exhibit B-1 to wire to Escrow Agent $1,402,484.00 on
Monday, January 3, 2005, which is the amount owed to Escrow Agent as set forth on the disbursements
page of the Settlement Statement, pursuant to the wire instructions on the Settlement Statement.

8. Notwithstanding anything to the contrary in the Merger Agreement, Agent has signed and
delivered to Parent the letter attached as Exhibit D-1 regarding the wire to the Company of
$2,381,951.00 on receipt of the wire set forth in paragraph 6 above. If, for any reason, the
Company does not receive such amount by the close of business on January 4, 2005 E.S.T., Parent, at
its option, may collect such amount from the Escrow Account or offset such amount against monies
owed to the Company Members under the Merger Agreement with interest from            January 3, 2005 at
the prime rate of Wachovia Bank, N.A., Richmond, Virginia as announced from time to time.

9. Notwithstanding anything to the contrary in the Merger Agreement, on or before 9:30 AM on
Friday, December 31, 2004, the Company will authorize and direct its bank to wire $2,000,000.00 to
Escrow Agent at the following address: Wachovia Bank, Charlotte, NC; ABA 053000219; Account
#5000000016439; FFC AMERIGROUP Escrow; Attn: CT5300/J Edwards.

10. The parties acknowledge that all Company Members have consented to the Merger Agreement
and that no funds will be set aside as the Dissenters’ Withhold Amount pursuant to the Merger
Agreement.

11. All capitalized terms used in this Agreement shall have the same meanings as are given
such terms in the Merger Agreement unless such terms are otherwise defined in this Agreement. On a
conflict between the terms of this Agreement and the Merger Agreement, this Agreement shall
control.

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#989251 v8 — Closing Agreement — Amerigroup NY

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IN WITNESS WHEREOF, the undersigned have executed this Closing Agreement as of the
date and year first set forth above.

AMERIGROUP ACQUISITION CORP.

By:  /s/ Stanley F. Baldwin

	 	 	 	Stanley F. Baldwin, Executive Vice President

AMERIGROUP CORPORATION

By:  /s/ Stanley F. Baldwin

	 	 	 	Stanley F. Baldwin, Executive Vice President

CAREPLUS, LLC

By:  /s/ Joseph Zappala

	 	 	 	Joseph Zappala, Chairman

 /s/ Joseph Zappala

Joseph Zappala, as Members’ Agent

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3EX-10.63

PLUMAS BANK

DEFERRED FEE AGREEMENT

THIS AGREEMENT is made this 24th day of December, 2004 by and between Plumas Bank (the
“Bank”), and Jerry V. Kehr (the “Director”).

INTRODUCTION

To encourage the Director to remain a member of the Bank’s Board of Directors, the Bank is willing
to provide to the Director a deferred fee opportunity. The Bank will pay the benefits from its
general assets.

AGREEMENT

The Director and the Bank agree as follows:

ARTICLE 1

Definitions

1.1 Definitions. Whenever used in this Agreement, the following words and phrases
shall have the meanings specified:

1.1.1 “Change of Control” means the transfer of shares of the Bank’s voting common stock such
that one person or a group of persons acting in concert acquires (or is deemed to acquire under
Section 318 of the Code) 51% or more of the Bank’s outstanding voting common stock.

1.1.2 “Code” means the Internal Revenue Code of 1986, as amended. References to a Code
section shall be deemed to be to that section as it now exists and to any successor provision.

1.1.3 “Disability” means the Director’s inability to perform substantially all normal duties
of a director, as determined by the Bank’s Board of Directors in its sole discretion. As a
condition to any benefits, the Bank may require the Director to submit to such physical or mental
evaluations and tests as the Board of Directors deems appropriate.

1.1.4 “Election Form” means the Form attached as Exhibit 1.

1.1.5 “Fees” means the total directors fees payable to the Director.

1.1.6 “Normal Termination Date” means the Director completing 15 Years of Service.

1.1.7 “Termination of Service” means the Director’s ceasing to be a member of the Bank’s Board
of Directors for any reason whatsoever.

1.1.8 “Years of Service” means the total number of twelve-month periods during which the
Director serves as a member of the Bank’s Board of Directors beginning from the date of this
Agreement.

ARTICLE 2

Deferral Election

2.1 Initial Election. The Director shall make an initial deferral election under this
Agreement by filing with the Bank a signed Election Form within 15 days after the date of this
Agreement. The Election Form shall set forth the amount of Fees to be deferred and the form of
benefit payment. The Election Form shall be effective to defer only Fees earned after the date the
Election Form is received by the Bank.

2.2 Election Changes

2.2.1 Generally. The Director may modify the amount of Fees to be deferred by filing
a subsequent signed Election Form with the Bank. The modified deferral shall not be effective
until the calendar year following the year in which the subsequent Election Form is received by the
Bank. The Director may not change the form of benefit payment without the prior written approval
of the Board of Directors of the Bank.

2.2.2 Hardship. If an unforeseeable financial emergency arising from the death of a
family member, divorce, sickness, injury, catastrophe or similar event outside the control of the
Director occurs, the Director, by written instructions to the Bank may reduce future deferrals
under this Agreement.

ARTICLE 3

Deferral Account

3.1 Establishing and Crediting. The Bank shall establish a deferral account
(“Deferral Account”) on its books for the Director, and shall credit to the Deferral Account the
following amounts:

3.1.1 Deferrals. The Fees deferred by the Director as of the time the Fees would have
otherwise been paid to the Director.

3.1.2 Interest. On a quarterly basis and immediately prior to the payment of any
benefits, interest shall be credited to the Deferral Account with an annual interest rate equal to
the floating Wall Street Journal Prime Rate as of the first business day of the month for such
month or part thereof that interest is to be credited minus 1% per annum. Interest on the Deferral
Account shall be compounded quarterly. Interest shall continue to accrue on the Deferral Account
until all benefits have been paid.

3.2 Statement of Accounts. The Bank shall provide to the Director, within one hundred
twenty (120) days after each anniversary of this Agreement, a statement setting forth the Deferral
Account balance.

3.3 Accounting Device Only. The Deferral Account is solely a device for measuring
amounts to be paid under this Agreement. The Deferral Account is not a trust fund of any kind.
The Director is a general unsecured creditor of the Bank for the payment of benefits. The benefits
represent the mere Bank promise to pay such benefits. The Director’s rights to such benefits are
not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, attachment, or garnishment by the Director’s creditors.

ARTICLE 4

Lifetime Benefits

4.1 Normal Termination Benefit. Upon the Director’s Termination of Service, the Bank
shall pay to the Director the benefit described in this Section 4.1.

4.1.1 Amount of Benefit. The benefit under this Section 4.1 is the Deferral Account
balance at the date of the Director’s Termination of Service including interest to the time of
payment as provided in Section 3.1.2.

4.1.2 Payment of Benefit. The Bank shall pay the benefit to the Director in 60
monthly installments as nearly equal as possible commencing on the first day of the month following
the Director’s Termination of Service.

4.2 Disability Benefit. If the Director terminates service as a director for
Disability prior to the Normal Termination Date, the Bank shall pay to the Director the benefit
described in this Section 4.2.

4.2.1 Amount of Benefit. The benefit under this Section 4.2 is the Deferral Account
balance at the Director’s Termination of Service including interest to the time of payment as
provided in Section 3.1.2.

4.2.2 Payment of Benefit. The Bank shall pay the benefit to the Director in a lump
sum within 15 days after the Director’s Termination of Service.

4.3 Change of Control Benefit. Upon a Change of Control while the Director is in the
active service of the Bank and prior to the Normal Termination Date, the Bank shall pay to the
Director the benefit described in this Section 4.3 in lieu of any other benefit under this
Agreement.

4.3.1 Amount of Benefit. The benefit under this Section 4.3 is the Deferral Account
balance at the date of the Change of Control including interest to the time of payment as provided
in Section 3.1.2.

4.3.2 Payment of Benefit. The Bank shall pay the benefit to the Director in a lump
sum within 15 days after the date of the Change of Control.

4.4 Hardship Distribution. Upon the Bank’s determination (following petition by the
Director) that the Director has suffered an unforeseeable financial emergency as described in
Section 2.2.2, the Bank shall distribute to the Director all or portion of the Deferral Account
balance as determined by the Bank, but in no event shall the distribution be greater than is
necessary to relieve the financial hardship.

ARTICLE 5

Death Benefits

5.1 Death During Active Service. If the Director dies while in the active service of
the Bank and prior to the Normal Termination Date, the Bank shall pay to the Director’s beneficiary
the benefit described in this Section 5.1 and such benefit shall be in lieu of any other benefit in
this Agreement.

5.1.1 Amount of Benefit. The benefit under Section 5.1 is the Deferral Account
balance at the time of the Director’s death including interest to the time of payment as provided
in Section 5.1.2.

5.1.2 Payment of Benefit. The Bank shall pay the benefit in 120 equal installments
to the beneficiary beginning on the first day of the month following the Director’s death.

ARTICLE 6

Beneficiaries

6.1 Beneficiary Designations. The Director shall designate a beneficiary by filing a
written designation with the Bank. The Director may revoke or modify the designation at any time
by filing a new designation. However, designations will only be effective if signed by the
Director and accepted by the Bank during the Director’s lifetime. The Director’s beneficiary
designation shall be deemed automatically revoked if the beneficiary predeceases the Director, or
if the Director names a spouse as beneficiary and the marriage is subsequently dissolved. If the
Director dies without a valid beneficiary designation, all payments shall be made to the Director’s
surviving spouse, if any, and if none, to the Director’s surviving children and the descendants of
any deceased child by right of representation, and if no children or descendants survive, to the
Director’s estate.

6.2 Facility of Payment. If a benefit is payable to a minor, to a person declared
incompetent, or to a person incapable of handling the disposition of his or her property, the Bank
may pay such benefit to the guardian, legal representative or person having the care or custody of
such minor, incompetent person or incapable person. The Bank may require proof of incompetency,
minority or guardianship as it may deem appropriate prior to distribution of the benefit. Such
distribution shall completely discharge the Bank from all liability with respect to such benefit.

ARTICLE 7

Claims and Review Procedures

7.1 Claims Procedure. The Bank shall notify the Director’s beneficiary in writing,
within ninety (90) days of his or her written application for benefits, of his or her eligibility
or noneligibility for benefits under the Agreement. If the Bank determines that the beneficiary is
not eligible for benefits or full benefits, the notice shall set forth (1) the specific reasons for
such denial, (2) a specific reference to the provisions of the Agreement on which the denial is
based, (3) a description of any additional information or material necessary for the claimant to
perfect his or her claim, and a description of why it is needed, and (4) an explanation of the
Agreement’s claims review procedure and other appropriate information as to the steps to be taken
if the beneficiary wishes to have the claim reviewed. If the Bank determines that there are
special circumstances requiring additional time to make a decision, the Bank shall notify the
beneficiary of the special circumstances and the date by which a decision is expected to be made,
and may extend the time for up to an additional ninety-day period.

7.2 Review Procedure. If the beneficiary is determined by the Bank not to be eligible
for benefits, or if the beneficiary believes that he or she is entitled to greater or different
benefits, the beneficiary shall have the opportunity to have such claim reviewed by the Bank by
filing a petition for review with the Bank within sixty (60) days after receipt of the notice
issued by the Bank. Said petition shall state the specific reasons which the beneficiary believes
entitle him or her to benefits or to greater or different benefits.

Within sixty (60) days after receipt by the Bank of the petition, the Bank shall afford the
beneficiary (and counsel, if any) an opportunity to present his or her position to the Bank orally
or in writing, and the beneficiary (or counsel) shall have the right to review the pertinent
documents. The Bank shall notify the beneficiary of its decision in writing within the sixty-day
period, stating specifically the basis of its decision, written in a manner calculated to be
understood by the beneficiary and the specific provisions of the Agreement on which the decision is
based. If, because of the need for a hearing, the sixty-day period is not sufficient, the decision
may be deferred for up to another sixty-day period at the election of the Bank, but notice of this
deferral shall be given to the beneficiary.

ARTICLE 8

Amendments and Termination

The Bank may amend or terminate this Agreement at any time if, pursuant to legislative,
judicial or regulatory action, continuation of the Agreement would (i) cause benefits to be taxable
to the Director prior to actual receipt, or (ii) result in significant financial penalties or other
significantly detrimental ramifications to the Bank (other than the financial impact of paying the
benefits). In no event shall this Agreement be terminated without payment to the Director of the
Deferral Account balance attributable to the Director’s deferrals and interest credited on such
amounts.

ARTICLE 9

Miscellaneous

9.1 Binding Effect. This Agreement shall bind the Director and the Bank, and their
beneficiaries, survivors, executors, administrators and transferees.

9.2 No Guaranty of Employment. This Agreement is not a contract for services. It
does not give the Director the right to remain a director of the Bank, nor does it interfere with
the shareholders’ rights to replace the Director. It also does not require the Director to remain
a director nor interfere with the Director’s right to terminate services at any time.

9.3 Non-Transferability. Benefits under this Agreement cannot be sold, transferred,
assigned, pledged, attached or encumbered in any manner.

9.4 Tax Withholding. The Bank shall withhold any taxes that are required to be
withheld from the benefits provided under this Agreement.

9.5 Applicable Law. The Agreement and all rights hereunder shall be governed by the
laws of California, except to the extent preempted by the laws of the United States of America.

9.6 Unfunded Arrangement. The Director and beneficiary are general unsecured
creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the
mere promise by the Bank to pay such benefits. The rights to benefits are not subject in any
manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or
garnishment by creditors of the Director. Any insurance on the Director’s life is a general
unpledged, unrestricted asset of the Bank to which the Director and beneficiary have no preferred
or secured claim. Furthermore, such insurance shall not be deemed to be held under any trust for
the benefit of the Director or his or her beneficiaries or to be security for the performance of
the obligation of Bank under this Agreement.

IN WITNESS WHEREOF, the Director and a duly authorized Bank officer have signed this Agreement.

	 	 	 
	DIRECTOR

	 	PLUMAS BANK
	 

	 	 
	 
	 	 
	/s/ Jerry V. Kehr

	 	By: /s/ W. E. Elliott
	 

	 	 
	 
	 	 
	
 
	 	Title: President & CEO
	
 
	 	 
	 
	 	 

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EXHIBIT I

DEFERRED FEE AGREEMENT

Deferral Election

I elect to defer fees under my Deferred Fee Agreement with the Bank, as follows:

	 	 	 	 	 
	Amount of Deferral	 	Frequency of Deferral	 	Duration
	[Initial and Complete one]

	 	

	 	

	 
	 	 	 	 
	X I elect to defer 100% of Fees

	 	Each fee payment
	 	The Year 2005 only
	 

	 	

	 	

	 
	 	 	 	 
	I elect to defer $ of Fees

	 	

	 	

	 

	 	

	 	

	 
	 	 	 	 
	I elect not to defer Fees

	 	

	 	

	 

	 	

	 	

I understand that I may change the amount, frequency and duration of my deferrals by filing a new
election form with the Company; provided, however, that any subsequent election as to the amount of
deferral or duration of deferral will not be effective until the calendar year following the year
in which the new election is received by the Company. I understand that my deferrals are subject
to Section 409A of the Internal Revenue Code of 1986, as amended.

Form of Benefit

The benefits under the Agreement will be paid to me or my proper beneficiary as provided in
the deferred fee agreement associated with this election form.

I understand that the form of benefit may not be changed even if I later change the amount of my
deferrals under the Agreement.

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