Document:

EXHIBIT 10.7

                          INCENTIVE STOCK OPTION AWARD
                  PURSUANT TO THE GENERATIONS BANCSHARES, INC.
                            2001 STOCK INCENTIVE PLAN

     THIS  AWARD  is  made  as of the Grant Date by GENERATIONS BANCSHARES, INC.
(the  "Company")  to  _________________  (the  "Optionee").

     Upon  and  subject  to  the  Terms  and  Conditions  attached  hereto  and
incorporated herein by reference, the Company hereby awards as of the Grant Date
to  Optionee  an  incentive  stock option (the "Option"), as described below, to
purchase  the  Option  Shares.

     A.   Grant  Date:  _________________________.

     B.   Type  of  Option:  Incentive  Stock  Option.

     C.   Plan  under  which  granted:  Generations  Bancshares, Inc. 2001 Stock
          Incentive  Plan.

     D.   Option  Shares:  All  or any part of shares of the Company's $1.00 par
          value  common  stock  (the  "Common  Stock"), subject to adjustment as
          provided  in  the  attached  Terms  and  Conditions.

     E.   Exercise Price: $_____ per share, subject to adjustment as provided in
          the  attached  Terms  and  Conditions.  The  Exercise Price is, in the
          judgment of the Committee, not less than 100% of the Fair Market Value
          of  a  share  of  Common Stock on the Grant Date or, in the case of an
          Over 10% Owner, not less than 110% of the Fair Market Value of a share
          of  Common  Stock  on  the  Grant  Date.

     F.   Option  Period:  The  Option  may  be exercised only during the Option
          Period  which  commences on the Grant Date and ends, generally, on the
          earliest of (a) the tenth (10th) anniversary of the Grant Date (unless
          the  Optionee  is  an  Over  10%  Owner, in which case the fifth (5th)
          anniversary  of  the  Grant  Date); (b) three (3) months following the
          date  the  Optionee ceases to be an employee of the Company (including
          any  Parent or Subsidiary) for any reason other than death, Disability
          or  termination  with  Cause;  (c) one (1) year following the date the
          Optionee ceases to be an employee of the Company (including any Parent
          or  Subsidiary)  due  to  death  or  Disability;  or  (d) the date the
          Optionee ceases to be an employee of the Company (including any Parent
          or  Subsidiary)  due  to  a termination with Cause; provided, however,
          that  the Option may be exercised as to no more than the vested Option
          Shares,  determined  pursuant to the Vesting Schedule. Note that other
          limitations  to  exercising  the  Option, as described in the attached
          Terms  and  Conditions,  may  apply.

     G.   Vesting  Schedule: The Option Shares shall become vested in accordance
          with  Schedule  1  hereto.

     IN  WITNESS  WHEREOF,  the Company has executed and sealed this Award as of
the  Grant  Date  set  forth  above.

                                   GENERATIONS  BANCSHARES,  INC.

                                   By:__________________________________________

                                   Title:_______________________________________

<PAGE>
                              TERMS AND CONDITIONS
                                     TO THE
                          INCENTIVE STOCK OPTION AWARD
                  PURSUANT TO THE GENERATIONS BANCSHARES, INC.
                            2001 STOCK INCENTIVE PLAN

     1.     Exercise of Option.  Subject to the provisions provided herein or in
            ------------------
the Award made pursuant to the Generations Bancshares, Inc. 2001 Stock Incentive
Plan:

          (a)  the Option may be exercised with respect to all or any portion of
     the  vested  Option  Shares  at  any  time  during the Option Period by the
     delivery  to  the Company, at its principal place of business, of a written
     notice  of exercise in substantially the form attached hereto as Exhibit 1,
     which  shall  be  actually  delivered to the Company no earlier than thirty
     (30)  days  and  no  later  than ten (10) days prior to the date upon which
     Optionee  desires  to  exercise  all  or  any  portion  of  the Option; and

          (b)  payment  to  the  Company of the Exercise Price multiplied by the
     number  of Option Shares being purchased (the "Purchase Price") as provided
     in  Section  3.

          (c)  Notwithstanding  any  other  provision  of this Agreement, in the
     event  that the capital of the Company falls below the minimum requirements
     determined  by  the  primary  federal  regulator  of  the  Company  (the
     "Regulator"),  the Regulator may direct the Company to require the Optionee
     to  exercise,  or otherwise forfeit, the Option in whole or in part. If the
     Regulator gives such direction, the Company will notify the Optionee within
     forty-five  (45)  days  from the date the Regulator notifies the Company in
     writing  that  the Optionee must exercise, or otherwise forfeit, the Option
     in  whole  or  in  part.  If  the  Optionee does not exercise the Option in
     accordance  with the Company's direction within twenty-one (21) days of the
     Company's  notification  to the Optionee, the Committee may provide for the
     cancellation  of  the  Option.

Upon  acceptance  of  such notice and receipt of payment in full of the Purchase
Price  and,  if applicable, any withholding taxes, the Company shall cause to be
issued  a  certificate  representing  the  Option  Shares  purchased.

     2.     Withholding.  To  the  extent  the  Option  is  deemed  to  be  a
            -----------
Non-Qualified  Stock  Option  in accordance with Section 18 hereof, the Optionee
must  satisfy his federal, state and local, if any, withholding taxes imposed by
reason  of  the  exercise of the Option either by paying to the Company the full
amount  of  the  withholding obligation (i) in cash; (ii) by tendering shares of
Common  Stock  which have been owned by the Optionee for at least six (6) months
prior  to  the  date  of  exercise having a Fair Market Value (as defined in the
Plan) equal to the withholding obligation; (iii) by electing, irrevocably and in
writing  in substantially the form of Exhibit 2 (the "Withholding Election"), to
have the smallest number of whole shares of Common Stock withheld by the Company
which,  when multiplied by the Fair Market Value (as defined in the Plan) of the
Common  Stock  as  of the date the Option is exercised, is sufficient to satisfy
the  amount  of  minimum  required  withholding  tax obligations; or (iv) by any
combination  of the above.  Optionee may make a Withholding Election only if the
following  conditions  are  met:

                                        2
<PAGE>
          (a)  the Withholding Election is made on or prior to the date on which
     the amount of tax required to be withheld is determined (the "Tax Date") by
     executing  and  delivering  to  the  Company a properly completed Notice of
     Withholding  in  substantially  the  form attached hereto as Exhibit 2; and

          (b)  any  Withholding  Election  will  be  irrevocable;  however,  the
     Committee  (as defined in the Plan) may, in its sole discretion, disapprove
     and  give  no  effect  to  the  Withholding  Election.

     3.     Purchase Price.  Payment of the Purchase Price for all Option Shares
            --------------
purchased  pursuant  to  the  exercise  of  an  Option  shall be made in cash or
certified  check  or,  if  and  when the Common Stock becomes traded by brokers,
whether  on  a  national  securities  exchange  or  otherwise, by receipt of the
Purchase  Price  in cash from a broker, dealer or other "creditor" as defined by
Regulation  T  issued  by  the  Board of Governors of the Federal Reserve System
following  delivery  by  the Optionee to the Committee of instructions in a form
acceptable  to  the Committee regarding delivery to such broker, dealer or other
creditor  of  that  number  of Option Shares with respect to which the Option is
exercised.

     4.     Rights  as Shareholder.  Until the stock certificates reflecting the
            ----------------------
Option Shares accruing to the Optionee upon exercise of the Option are issued to
the Optionee, the Optionee shall have no rights as a shareholder with respect to
such  Option  Shares.  The Company shall make no adjustment for any dividends or
distribu-tions or other rights on or with respect to Option Shares for which the
record  date  is  prior to the issuance of that stock certificate, except as the
Plan  or  the  attached  Award  otherwise  provides.

     5.     Restriction  on Transfer of Option and of Option Shares.  The Option
            -------------------------------------------------------
evidenced  hereby  is  nontransferable other than by will or the laws of descent
and  distribution  and  shall be exercisable during the lifetime of the Optionee
only  by  the  Optionee  (or  in  the  event  of his Disability, by his personal
representative)  and after his death, only by his legatee or the executor of his
estate.

     6.     Changes  in  Capitalization.
            ---------------------------

          (a)  If  the  number  of  shares of Common Stock shall be increased or
     decreased  by  reason  of  a subdivision or combination of shares of Common
     Stock,  the  payment  of  a stock dividend in shares of Common Stock or any
     other  increase  or  decrease  in  the  number  of  shares  of Common Stock
     outstanding  effected  without  receipt of consideration by the Company, an
     appropriate  adjustment  shall  be  made  by  the  Committee,  in  a manner
     determined  in its sole discretion, in the number and kind of Option Shares
     and  in  the  Exercise  Price.

          (b)  If  the Company shall be the surviving corporation in any merger,
     consolidation,  reorganization,  extraordinary dividend, spin-off, or other
     change  in  corporate  structure  of  the  Company or its Common Stock, the
     Optionee  shall  be entitled to purchase the number and class of securities
     to  which  a  holder of the number of shares of Common Stock subject to the
     Option  at  the time of the transaction would have been entitled to receive
     as  a  result  of  such  transaction, and a corresponding adjustment, where
     appropriate,  shall be made in the Exercise Price. In the event of a Change
     in  Control or other corporate transaction pursuant to which the Company is

                                        3
<PAGE>
     not  the  surviving entity, the Committee may provide for the assumption of
     the  Option  by  the  surviving entity or the substitution of a new option,
     adjusted  in  a  manner  similar  to  that  contemplated by the immediately
     preceding  sentence; however, if the surviving entity does not agree to the
     assumption  or  substitution  of  the  Option,  the  Committee may elect to
     terminate  the  Option  Period  as  of  the effective date of the Change in
     Control  in  consideration of the payment to the Optionee of the sum of the
     difference between the then aggregate Fair Market Value of the Common Stock
     and the aggregate Exercise Price for each vested Option Share which has not
     been  exercised  as  of  the  effective  date  of  the Change in Control. A
     dissolution  or  liquidation  of  the  Company  shall  cause  the Option to
     terminate  as to any portion thereof not exercised as of the effective date
     of  the  dissolution  or  liquidation.

          (c)  The existence of the Plan and the Option granted pursuant to this
     Agreement  shall not affect in any way the right or power of the Company to
     make or authorize any adjustment, reclassification, reorganization or other
     change in its capital or business structure, any merger or consolidation of
     the  Company,  any issue of debt or equity securities having preferences or
     priorities as to the Common Stock or the rights thereof, the dissolution or
     liquidation  of the Company, any sale or transfer of all or any part of its
     business  or  assets,  or  any  other  corporate  act  or  proceeding.  Any
     adjustment  pursuant  to  this  Section  may  provide,  in  the Committee's
     discretion,  for the elimination without payment therefor of any fractional
     shares  that  might  otherwise  become  subject  to  any  Option.

     7.     Special Limitation on Exercise.  No purported exercise of the Option
            ------------------------------
shall  be effective without the approval of the Committee, which may be withheld
to  the  extent  that  the  exercise,  either  individually  or in the aggregate
together  with  the  exercise of other previously exercised stock options and/or
offers  and  sales pursuant to any prior or contemplated offering of securities,
would, in the sole and absolute judgment of the Committee, require the filing of
a  registration  statement  with  the  United  States  Securities  and  Exchange
Commission  or  with  the securities commission of any state.  If a registration
statement  is  not  in effect under the Securities Act of 1933 or any applicable
state  securities  law  with  respect  to  shares of Common Stock purchasable or
otherwise  deliverable  under  the Option, the Optionee (a) shall deliver to the
Company,  prior  to the exercise of the Option or as a condition to the delivery
of  Common  Stock  pursuant  to  the  exercise  of  an  Option  exercise,  such
information,  representations  and  warranties  as  the  Company  may reasonably
request  in  order  for the Company to be able to satisfy itself that the Option
Shares  are  being  acquired  in  accordance  with  the  terms  of an applicable
exemption  from  the  securities registration requirements of applicable federal
and state securities laws and (b) shall agree that the shares of Common Stock so
acquired  will  not  be disposed of except pursuant to an effective registration
statement,  unless  the  Company  shall have received an opinion of counsel that
such  disposition  is  exempt  from such requirement under the Securities Act of
1933  and  any  applicable  state  securities  law.

     8.     Legend  on  Stock  Certificates.  Certificates evidencing the Option
            -------------------------------
Shares, to the extent appropriate at the time, shall have noted conspicuously on
the  certificates  a  legend  intended  to  give  all persons full notice of the
existence  of  the  conditions,  restrictions,  rights and obligations set forth
herein  and  in  the  Plan.

     9.     Governing  Laws.  This  Award  and the Terms and Conditions shall be
            ---------------
construed,  administered  and  enforced  according  to  the laws of the State of
Georgia.

                                        4
<PAGE>
     10.     Successors.  This  Award  and  the  Terms  and  Conditions shall be
             ----------
binding  upon  and  inure  to  the  benefit of the heirs, legal representatives,
successors  and  permitted  assigns  of  the  Optionee  and  the  Company.

     11.     Notice.  Except  as  otherwise  specified  herein,  all notices and
             ------
other communications under this Award shall be in writing and shall be deemed to
have  been  given  if personally delivered or if sent by registered or certified
United  States mail, return receipt requested, postage prepaid, addressed to the
proposed  recipient  at  the last known address of the recipient.  Any party may
designate  any  other address to which notices shall be sent by giving notice of
the  address  to  the  other  parties  in  the  same  manner as provided herein.

     12.     Severability.  In  the event that any one or more of the provisions
             ------------
or  portion  thereof contained in the Award and these Terms and Conditions shall
for  any  reason be held to be invalid, illegal or unenforceable in any respect,
the  same  shall  not invalidate or otherwise affect any other provisions of the
Award  and  these  Terms  and  Conditions,  and  the  Award  and these Terms and
Conditions  shall  be  construed  as  if  the  invalid, illegal or unenforceable
provision  or  portion  thereof  had  never  been  contained  herein.

     13.     Entire Agreement.  Subject to the terms and conditions of the Plan,
             ----------------
the  Award  and the Terms and Conditions express the entire understanding of the
parties  with  respect  to  the  Option.

     14.     Violation.  Any  transfer,  pledge,  sale,  assignment,  or
             ---------
hypothecation  of  the Option or any portion thereof shall be a violation of the
terms  of  the Award or these Terms and Conditions and shall be void and without
effect.

     15.     Headings  and  Capitalized Terms.  Section headings used herein are
             --------------------------------
for  convenience of reference only and shall not be considered in construing the
Award  or  these Terms and Conditions.  Capitalized terms used, but not defined,
in  either  the  Award  or  the  Terms and Conditions shall be given the meaning
ascribed  to  them  in  the  Plan.

     16.     Specific  Performance.  In  the  event  of any actual or threatened
             ---------------------
default  in,  or  breach  of, any of the terms, conditions and provisions of the
Award  and  these  Terms  and  Conditions,  the party or parties who are thereby
aggrieved  shall  have  the  right  to  specific  performance  and injunction in
addition  to  any and all other rights and remedies at law or in equity, and all
such  rights  and  remedies  shall  be  cumulative.

     17.     No  Right to Continued Retention.  Neither the establishment of the
             --------------------------------
Plan  nor  the award of Option Shares hereunder shall be construed as giving the
Optionee  the  right  to continued employment with the Company or any affiliate.

     18.     Qualified  Status of Option.  In accordance with Section 2.4 of the
             ---------------------------
Plan,  the  aggregate  Fair Market Value (determined as of the date an Incentive
Stock  Option  is granted) of the Option Shares which become exercisable for the
first  time by an individual during any calendar year shall not exceed $100,000.
If  the  foregoing  limitation  is  exceeded  with respect to any portion of the
Option  Shares,  that portion of the Option Shares which cause the limitation to
be  exceeded  shall  be  treated  as  a  Non-Qualified  Stock  Option.

                                        5
<PAGE>
     19.     Definition of Cause.  As used in this Award, "Cause" means Cause as
             -------------------
defined  in  any Employment Agreement between the Optionee and the Company or an
Affiliate, or if none (i) willful and continued failure (other than such failure
resulting from his incapacity during physical or mental illness) by the Optionee
to  substantially  perform  his  duties  with  the Company or an Affiliate; (ii)
willful  misconduct  by  the  Optionee;  (iii)  gross negligence by the Optionee
causing  material  harm  to  the  Company  or  an Affiliate; (iv) any act by the
Optionee  of fraud, misappropriation, dishonesty or embezzlement; (v) commission
by  the  Optionee  of  a  felony or any other crime involving moral turpitude or
dishonesty; or (vi) the habitual and disabling use by the Optionee of alcohol or
drugs.

                                        6
<PAGE>
                                    EXHIBIT 1
                                    ---------

                              NOTICE OF EXERCISE OF
                            STOCK OPTION TO PURCHASE
                                 COMMON STOCK OF
                          GENERATIONS BANCSHARES, INC.

                                           Name_________________________________
                                           Address______________________________
                                           _____________________________________
                                           Date_________________________________

Generations  Bancshares,  Inc.
199-D  Highway  515
Blairsville,  GA  30512
Attn:  President

Re:     Exercise  of  Incentive  Stock  Option

Gentlemen:

     Subject  to  acceptance  hereof  by  Generations  Bancshares,  Inc.  (the
"Company")  and  pursuant  to the provisions of the Generations Bancshares, Inc.
2001  Stock  Incentive Plan (the "Plan"), I hereby give notice of my election to
exercise options granted to me to purchase ______________ shares of Common Stock
of  the Company under the Incentive Stock Option Award (the "Award") dated as of
____________.  The  purchase  shall  take  place  as  of  __________, 200__ (the
"Exercise  Date").

     On or before the Exercise Date, I will pay the applicable purchase price as
follows:

          [  ] by delivery of cash or a certified check for $___________ for the
               full  purchase  price  payable  to  the  order  of  Generations
               Bancshares,  Inc.

          [  ] by delivery of the purchase price by _________________________, a
               broker,  dealer  or  other  "creditor" as defined by Regulation T
               issued by the Board of Governors of the Federal Reserve System. I
               hereby authorize the Company to issue a stock certificate for the
               number  of  shares  indicated  above  in the name of said broker,
               dealer  or other creditor or its nominee pursuant to instructions
               received  by  the  Company  and to deliver said stock certificate
               directly  to  that  broker,  dealer or other creditor (or to such
               other party specified in the instructions received by the Company
               from  the  broker,  dealer or other creditor) upon receipt of the
               purchase  price.

                             Exhibit 1 - Page 1 of 3
<PAGE>
     The  required federal, state, and local income tax withholding obligations,
if  any,  on  the  exercise of the Award shall be paid on or before the Exercise
Date in cash or with previously owned shares of Common Stock, as provided in the
Award, or in the manner provided in the Withholding Election previously tendered
or  to  be  tendered  to  the  Company  no  later  then  the  Exercise  Date.

     As  soon  as the stock certificate is registered in my name, please deliver
it  to  me  at  the  above  address.

     If  the  Common  Stock being acquired is not registered for issuance to and
resale  by  the Optionee pursuant to an effective registration statement on Form
S-8  (or successor form) filed under the Securities Act of 1933, as amended (the
"1933  Act"),  I hereby represent, warrant, covenant, and agree with the Company
as  follows:

          The  shares  of the Common Stock being acquired by me will be acquired
          for my own account without the participation of any other person, with
          the  intent of holding the Common Stock for investment and without the
          intent  of participating, directly or indirectly, in a distribution of
          the  Common  Stock and not with a view to, or for resale in connection
          with,  any  distribution  of  the  Common Stock, nor am I aware of the
          existence  of  any  distribution  of  the  Common  Stock;

          I  am  not  acquiring  the Common Stock based upon any representation,
          oral or written, by any person with respect to the future value of, or
          income  from,  the  Common  Stock  but  rather  upon  an  independent
          examination  and  judgment  as  to  the  prospects  of  the  Company;

          The  Common  Stock  was  not  offered  to  me  by  means  of  publicly
          disseminated advertisements or sales literature, nor am I aware of any
          offers  made  to  other  persons  by  such  means;

          I  am  able to bear the economic risks of the investment in the Common
          Stock, including the risk of a complete loss of my investment therein;

          I  understand  and agree that the Common Stock will be issued and sold
          to  me  without  registration  under  any  state  law  relating to the
          registration  of  securities  for sale, and will be issued and sold in
          reliance  on  the  exemptions  from  registration  under the 1933 Act,
          provided  by  Sections  3(b)  and/or  4(2)  thereof  and the rules and
          regulations  promulgated  thereunder;

          The Common Stock cannot be offered for sale, sold or transferred by me
          other  than  pursuant to: (A) an effective registration under the 1933
          Act or in a transaction otherwise in compliance with the 1933 Act; and
          (B)  evidence  satisfactory  to  the  Company  of  compliance with the
          applicable  securities  laws of other jurisdictions. The Company shall
          be entitled to rely upon an opinion of counsel satisfactory to it with
          respect  to  compliance  with  the  above  laws;

          The  Company  will be under no obligation to register the Common Stock
          or to comply with any exemption available for sale of the Common Stock
          without  registration  or  filing,  and  the information or conditions
          necessary  to  permit routine sales of securities of the Company under
          Rule 144 under the 1933 Act are not now available and no assurance has
          been given that it or they will become available. The Company is under
          no  obligation  to  act in any manner so as to make Rule 144 available
          with  respect  to  the  Common  Stock;

                             Exhibit 1 - Page 2 of 3
<PAGE>
          I  have  and have had complete access to and the opportunity to review
          and  make  copies of all material documents related to the business of
          the  Company,  including,  but  not  limited  to, contracts, financial
          statements,  tax returns, leases, deeds and other books and records. I
          have examined such of these documents as I wished and am familiar with
          the  business  and affairs of the Company. I realize that the purchase
          of  the Common Stock is a speculative investment and that any possible
          profit  therefrom  is  uncertain;

          I  have  had  the  opportunity to ask questions of and receive answers
          from the Company and any person acting on its behalf and to obtain all
          material  information reasonably available with respect to the Company
          and its affairs. I have received all information and data with respect
          to the Company which I have requested and which I have deemed relevant
          in  connection  with  the  evaluation  of  the  merits and risks of my
          investment  in  the  Company;

          I have such knowledge and experience in financial and business matters
          that  I  am capable of evaluating the merits and risks of the purchase
          of  the Common Stock hereunder and I am able to bear the economic risk
          of  such  purchase;  and

          The  agreements,  representations, warranties and covenants made by me
          herein  extend  to and apply to all of the Common Stock of the Company
          issued  to  me  pursuant  to  this  Award.  Acceptance  by  me  of the
          certificate  representing  such  Common  Stock  shall  constitute  a
          confirmation  by  me  that  all  such  agreements,  representa-tions,
          warranties and covenants made herein shall be true and correct at that
          time.

          I  understand  that  the  certificates  representing  the shares being
          purchased  by  me  in  accordance with this notice shall bear a legend
          referring  to  the foregoing covenants, representations and warranties
          and restrictions on transfer, and I agree that a legend to that effect
          may  be  placed  on  any  certificate  which  may be issued to me as a
          substitute  for  the  certificates  being acquired by me in accordance
          with  this notice. I further understand that capitalized terms used in
          this  Notice  of  Exercise  without definition shall have the meanings
          given  to  them  in  the  Plan.

                                           Very  truly  yours,

                                           ________________________________

AGREED  TO  AND  ACCEPTED:

GENERATIONS  BANCSHARES,  INC.

By:_________________________________

Title:______________________________

Number  of  Shares
Exercised:__________________________

Number  of  Shares
Remaining:__________________________     Date:______________________________

                             Exhibit 1 - Page 3 of 3
<PAGE>
                                    EXHIBIT 2
                                    ---------

                         NOTICE OF WITHHOLDING ELECTION
                          GENERATIONS BANCSHARES, INC.
                            2001 STOCK INCENTIVE PLAN

TO:          Generations  Bancshares,  Inc.

FROM:        _________________________________________

RE:          Withholding  Election

This  election  relates  to the Option identified in Paragraph 3 below. I hereby
certify  that:

(1)  My  correct  name and social security number and my current address are set
     forth  at  the  end  of  this  document.

(2)  I  am  (check  one,  whichever  is  applicable).

     [  ] the  original  recipient  of  the  Option.

     [  ] the  legal  representative  of the estate of the original recipient of
          the  Option.

     [  ] a  legatee  of  the  original  recipient  of  the  Option.

     [  ] the  legal  guardian  of  the  original  recipient  of  the  Option.

(3)  The  Option to which this election relates was issued under the Generations
     Bancshares,  Inc.  2001  Stock  Incentive  Plan (the "Plan") in the name of
     _________________________  for  the  purchase of a total of _______________
     shares  of  Common  Stock  of  the  Company.  This  election  relates  to
     _______________  shares  of  Common  Stock  issuable  upon  exercise of the
     Option,  provided  that the numbers set forth above shall be deemed changed
     as  appropriate  to  reflect  the  applicable  Plan  provisions.

(4)  In  connection  with  any exercise of the Option with respect to the Common
     Stock,  I  hereby  elect:

     [  ] to  have  certain  of  the  shares  otherwise issuable pursuant to the
          exercise  withheld  by the Company for the purpose of having the value
          of  the shares applied to pay federal, state, and local, if any, taxes
          arising  from  the  exercise.

     [  ] to  tender  shares  held by me for a period of at least six (6) months
          prior  to  the  exercise  of  the Option for the purpose of having the
          value  of  the  shares  applied  to  pay  such  taxes.

                             Exhibit 2 - Page 1 of 2
<PAGE>
          The  shares  to be withheld or tendered, as applicable, shall have, as
          of  the Tax Date applicable to the exercise, a Fair Market Value equal
          to  the  minimum  statutory tax withholding requirement under federal,
          state,  and  local  law  in  connection  with  the  exercise.

(5)  This  Withholding  Election  is  made  no  later  than  the Tax Date and is
     otherwise  timely  made  pursuant  to  the  Plan.

(6)  I  understand that this Withholding Election may not be revised, amended or
     revoked  by  me.

(7)  The  Plan  has  been  made  available to me by the Company. I have read and
     understand  the  Plan  and  I  have  no  reason  to believe that any of the
     conditions  to  the  making of this Withholding Election have not been met.

(8)  Capitalized  terms  used  in  this  Notice  of Withholding Election without
     definition  shall  have  the  meanings  given  to  them  in  the  Plan.

Dated:_______________________     ______________________________________________
                                  Signature

_____________________________     ______________________________________________
Social  Security  Number          Name  (Printed)

                                  ______________________________________________
                                  Street  Address

                                  ______________________________________________
                                  City,  State,  Zip  Code

                             Exhibit 2 - Page 2 of 2
<PAGE>
                                   SCHEDULE 1
                                VESTING SCHEDULE
                          INCENTIVE STOCK OPTION AWARD
                             ISSUED PURSUANT TO THE
                          GENERATIONS BANCSHARES, INC.
                            2001 STOCK INCENTIVE PLAN

A.   The Option Shares shall become vested Option Shares following completion of
     the  years  of  service  as  an  employee  of  the Company or any Parent or
     Subsidiary  as  indicated  in  the  schedule  below.

          Percentage  of  Option  Shares               Years  of  Service
          Which  are  Vested  Shares               after  the  Grant  Date
          --------------------------               -----------------------

                      33 1/3%                                 1
                      66 2/3%                                 2
                       100%                                   3

B.   In  the  event of a Change in Control prior to the third anniversary of the
     date  the  Bank  opens  for  business,  the  Option  shall become vested as
     indicated  in  Part  A.

C.   Notwithstanding  Part  A,  in  the  event  of  a  Change  in  Control on or
     subsequent  to  the  third  anniversary  of  the  date  the  Bank opens for
     business,  the  Option  will be fully vested as of a date determined by the
     Committee  which  is no less than ten (10) days prior to the effective date
     of  the  Change  in  Control.

D.   For  purposes  of the Vesting Schedule, Optionee shall be granted a year of
     service  for  each twelve-consecutive-month period following the Grant Date
     and  during  which  Optionee continues, at all times, as an employee of the
     Company  or  any  Parent  or  Subsidiary.

                            Schedule 1 - Page 1 of 1
<PAGE>EXHIBIT 10.8

                              EMPLOYMENT AGREEMENT

     THIS  AGREEMENT  is  made as of the 15th day of October, 2001, by and among
GENERATIONS  BANK  (Proposed)  (the  "Bank"), a proposed state bank; GENERATIONS
BANCSHARES,  INC.,  a  bank  holding  company incorporated under the laws of the
State  of  Georgia  (the  "Company") (collectively, the Bank and the Company are
referred  to  hereinafter as the "Employer"), and DAVID K. GEORGE, a resident of
the  State  of  Georgia  (the  "Executive").

                                    RECITALS:

     The  Employer desires to employ the Executive as Chief Executive Officer of
the  Bank  and  the Company and the Executive desires to accept such employment.

     In  consideration  of  the  above  premises  and  the  mutual  agreements
hereinafter  set  forth,  the  parties  hereby  agree  as  follows:

1.     DEFINITIONS.  Whenever  used  in  this Agreement, the following terms and
       -----------
their  variant  forms  shall  have  the  meaning  set  forth  below:

     1.1     "AGREEMENT" shall mean this Agreement and any exhibits incorporated
              ---------
herein  together with any amendments hereto made in the manner described in this
Agreement.

     1.2     "AFFILIATE"  shall  mean  any  business  entity  which controls the
              ---------
Company,  is  controlled  by  or  is  under  common  control  with  the Company.

     1.3     "AREA"  shall  mean  the  geographic  area within the boundaries of
              ----
Union  and  Towns Counties in the State of Georgia.  It is the express intent of
the  parties  that  the  Area  as defined herein is the area where the Executive
performs  services  on  behalf  of  the  Employer under this Agreement as of the
Effective  Date.

     1.4     "BUSINESS OF THE EMPLOYER" shall mean the business conducted by the
              ------------------------
Employer,  which  is  the  business  of  commercial  banking.

     1.5     "CAUSE"  shall  mean:
              -----

          1.5.1     With  respect  to  termination  by  the  Employer:

               (a)     A  material  breach of the terms of this Agreement by the
          Executive,  including, without limitation, failure by the Executive to
          perform  his  duties  and  responsibilities  in  the manner and to the
          extent  required under this Agreement, which remains uncured after the
          expiration  of  thirty  (30)  days  following  the delivery of written
          notice  of such breach to the Executive by Employer. Such notice shall
          (i)  specifically  identify  the duties that the Board of Directors of
          either  the  Company  or the Bank believes the Executive has failed to

<PAGE>
          perform,  (ii) state the facts upon which such Board of Directors made
          such  determination,  and  (iii) be approved by a resolution passed by
          two-thirds  (2/3)  of  the  directors  then  in  office;

               (b)     Conduct  by  the  Executive  that  amounts  to  fraud,
          dishonesty  or willful misconduct in the performance of his duties and
          responsibilities  hereunder;

               (c)     Arrest  for,  charged  in  relation  to  (by  criminal
          information,  indictment or otherwise), or conviction of the Executive
          during the Term of this Agreement of a crime involving breach of trust
          or  moral  turpitude;

               (d)     Conduct  by  the  Executive  that  amounts  to  gross and
          willful  insubordination  or  inattention  to  his  duties  and
          responsibilities  hereunder;  or

               (e)     Conduct by the Executive that results in removal from his
          position  as an officer or executive of Employer pursuant to a written
          order  by  any  regulatory  agency with authority or jurisdiction over
          Employer.

          1.5.2     With  respect  to  termination  by the Executive, a material
     diminution  in  the  powers,  responsibilities  or  duties of the Executive
     hereunder  or a material breach of the terms of this Agreement by Employer,
     which  remains  uncured  after the expiration of thirty (30) days following
     the delivery of written notice of such breach to Employer by the Executive.

     1.6     "CHANGE  OF  CONTROL"  means  any  one  of  the  following  events:
              -------------------

               (a)     the  acquisition  by  any  person  or  persons  acting in
          concert  of  the then outstanding voting securities of either the Bank
          or  the  Company,  if, after the transaction, the acquiring person (or
          persons)  owns,  controls  or  holds  with  power  to vote thirty-five
          percent  (35%) or more of any class of voting securities of either the
          Bank  or  the  Company,  as  the  case  may  be;

               (b)     within any twelve-month period (beginning on or after the
          Beginning  Date)  the persons who were directors of either the Bank or
          the  Company  immediately  before  the  beginning of such twelve-month
          period  (the "Incumbent Directors") shall cease to constitute at least
          a  majority of such board of directors; provided that any director who
          was  not  a director as of the Beginning Date shall be deemed to be an
          Incumbent  Director  if  that  director  were elected to such board of
          directors  by, or on the recommendation of or with the approval of, at
          least  two-thirds  of  the  directors  who then qualified as Incumbent
          Directors;  and  provided  further  that  no  director  whose  initial
          assumption  of  office  is  in connection with an actual or threatened
          election contest relating to the election of directors shall be deemed
          to  be  an  Incumbent  Director;

               (c)     a  reorganization,  merger or consolidation, with respect
          to which persons who were the stockholders of the Bank or the Company,

                                        2
<PAGE>
          as  the  case may be, immediately prior to such reorganization, merger
          or  consolidation  do not, immediately thereafter, own more than fifty
          percent  (50%)  of  the  combined voting power entitled to vote in the
          election  of  directors  of  the  reorganized,  merged or consolidated
          company's  then  outstanding  voting  securities;  or

               (d)     the  sale, transfer or assignment of all or substantially
          all  of  the  assets  of the Company and its subsidiaries to any third
          party.

     1.7     "COMPANY  INFORMATION"  means  Confidential  Information  and Trade
              --------------------
Secrets.

     1.8     "CONFIDENTIAL  INFORMATION"  means data and information relating to
              -------------------------
the  business of the Bank or the Company (which does not rise to the status of a
Trade  Secret)  which  is or has been disclosed to the Executive or of which the
Executive  became  aware  as  a  consequence  of  or  through  the  Executive's
relationship  to  the  Employer  and  which has value to the Employer and is not
generally  known to its competitors.  Confidential Information shall not include
any data or information that has been voluntarily disclosed to the public by the
Employer  (except  where  such  public disclosure has been made by the Executive
without authorization) or that has been independently developed and disclosed by
others,  or  that  otherwise  enters  the  public  domain  through lawful means.

     1.9     "DISABILITY"  shall  mean the inability of the Executive to perform
              ----------
each  of  his  material  duties  under  this  Agreement  for the duration of the
short-term  disability  period  under  the  Employer's  policy then in effect as
certified by a physician chosen by the Employer and reasonably acceptable to the
Executive.

     1.10     "EFFECTIVE  DATE" shall mean the date the Bank opens for business.
               ---------------

     1.11     "TERM"  shall  mean that period of time commencing on the date the
               ----
Bank  receives  initial  approval from banking regulators (the "Beginning Date")
and running until (a) the close of business on the last business day immediately
preceding  the  third anniversary of the thirtieth (30th) day following the date
any  notice  of  non-renewal  of  the  Agreement  is received or (b) any earlier
termination  of employment of the Executive under this Agreement as provided for
in  Section  3.

     1.12     "TRADE  SECRETS"  means  Employer  information  including, but not
               --------------
limited  to,  technical  or nontechnical data, formulas, patterns, compilations,
programs,  devices,  methods,  techniques,  drawings, processes, financial data,
financial  plans,  product  plans  or  lists of actual or potential customers or
suppliers  which:

          (a)     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

          (b)     is  the  subject  of  efforts  that  are  reasonable under the
     circumstances  to  maintain  its  secrecy.

                                        3
<PAGE>
2.     DUTIES.
       ------

     2.1     POSITION.  The  Executive  is employed initially as Chief Executive
             --------
Officer  of  the  Bank and the Company, subject to the direction of the Board of
Directors  of  the  Bank  or  the  Company or its designee(s), shall perform and
discharge  well and faithfully the duties which may be assigned to him from time
to  time  by  the  Bank  or  the  Company  in connection with the conduct of its
business.  The  duties  and  responsibilities  of the Executive are set forth on
Exhibit  A  attached  hereto.
----------

     2.2     FULL-TIME  STATUS.  In  addition to the duties and responsibilities
             -----------------
specifically  assigned  to  the  Executive  pursuant  to Section 2.1 hereof, the
Executive  shall:

          (a)     devote  substantially all of his time, energy and skill during
     regular  business  hours to the performance of the duties of his employment
     (reasonable  vacations and reasonable absences due to illness excepted) and
     faithfully  and  industriously  perform  such  duties;

          (b)     diligently  follow  and  implement  all  reasonable and lawful
     management  policies  and  decisions  communicated  to  him by the Board of
     Directors  of  either  the  Bank  or  the  Company;  and

          (c)     timely prepare and forward to the Board of Directors of either
     the  Bank or the Company all reports and accountings as may be requested of
     the  Executive.

          2.3     PERMITTED  ACTIVITIES.  The  Executive shall devote his entire
                  ---------------------
business  time, attention and energies to the Business of the Employer and shall
not  during the Term be engaged (whether or not during normal business hours) in
any  other  business  or  professional activity, whether or not such activity is
pursued  for  gain,  profit  or other pecuniary advantage; but this shall not be
construed  as  preventing  the  Executive  from:

          (a)     investing  his personal assets in businesses which (subject to
     clause  (b) below) are not in competition with the Business of the Employer
     and  which  will  not  require any services on the part of the Executive in
     their operation or affairs and in which his participation is solely that of
     an  investor;

          (b)     purchasing  securities in any corporation whose securities are
     regularly  traded  provided  that  such  purchase  shall  not result in him
     collectively  owning  beneficially at any time five percent (5%) or more of
     the  equity  securities of any business in competition with the Business of
     the  Employer;  and

          (c)     participating  in  civic  and  professional  affairs  and
     organizations  and  conferences, preparing or publishing papers or books or
     teaching  so  long  as  the  Board  of  Directors of either the Bank or the
     Company  approves  of  such activities prior to the Executive's engaging in
     them.

3.     TERM  AND  TERMINATION.
       ----------------------

                                        4
<PAGE>
     3.1     TERM.     This  Agreement  shall  remain  in  effect  for the Term.
             ----
While  this  Agreement  remains in effect, it shall automatically renew each day
after  the  Beginning  Date  such  that  the Term remains a three-year term from
day-to-day  hereafter unless any party gives written notice to the others of its
intent  that  the  automatic  renewals shall cease.  In the event such notice of
non-extension is properly given, this Agreement and the Term shall expire on the
third  anniversary  of  the thirtieth (30th) day following the date such written
notice  is  received.

     3.2     TERMINATION.  During  the  Term,  the  employment  of the Executive
             -----------
under  this  Agreement  may  be  terminated  only  as  follows:

          3.2.1     By  the  Employer:

               (a)     In  the  event  that  the  Bank  fails  to  receive  its
          regulatory  charter,  or  the  Company  fails  to  raise the necessary
          capital  required  to  open  the Bank, and should the Company's or the
          Bank's  Board  of Directors decide to forgo future efforts to open the
          Bank,  in  which  event  the Employer shall be required to continue to
          meet  its  obligation  to  the Executive under Section 4.1 for six (6)
          months;

               (b)     For  Cause, upon written notice to the Executive pursuant
          to  Section  1.5.1  hereof,  where  the  notice has been approved by a
          resolution passed by two-thirds of the directors of either the Bank or
          the  Company  then  in  office;

               (c)     Without  Cause  at any time, provided that the Company or
          the  Bank  shall  give  the  Executive thirty (30) days' prior written
          notice  of  its intent to terminate, in which event the Employer shall
          be required to continue to meet its obligations to the Executive under
          Section  4.1  for  a  period  equal  to  twelve  (12)  months;  or

               (d)     Upon  the  Disability  of  the  Executive  at  any  time,
          provided  that the Employer shall give the Executive thirty (30) days'
          prior  written  notice of its intent to terminate, in which event, the
          Employer  shall  be required to continue to meet its obligations under
          Section  4.1 for six (6) months following the termination or until the
          Executive  begins  receiving  payments  under  the Company's long-term
          disability  policy,  whichever  occurs  first.

                                        5
<PAGE>
          3.2.2     By  the  Executive:

               (a)     For  Cause, in which event the Employer shall be required
          to  continue  to  meet  its obligations under Section 4.1 for a period
          equal  to  twelve  (12)  months  following  the  termination;  or

               (b)     Without  Cause  or  upon the Disability of the Executive,
          provided  that  the Executive shall give the Employer sixty (60) days'
          prior  written  notice  of  his  intent  to  terminate.

          3.2.3     At  any  time upon mutual, written agreement of the parties.

          3.2.4     Notwithstanding  anything in this Agreement to the contrary,
     the  Term  shall  end  automatically  upon  the  Executive's  death.

     3.3     CHANGE OF CONTROL.  If the Executive terminates his employment with
             -----------------
the Employer under this Agreement for any reason within six (6) months following
a Change of Control, the Executive, or in the event of his subsequent death, his
designated  beneficiaries  or  his estate, as the case may be, shall receive, as
liquidated  damages,  in  lieu of all other claims, a severance payment equal to
two (2) times the Executive's then current Base Salary to be paid in full on the
last  day  of the month following the date of termination. In no event shall the
payment(s)  described in this Section 3.3 exceed the amount permitted by Section
280G  of  the Internal Revenue Code, as amended (the "Code").  Therefore, if the
aggregate  present  value (determined as of the date of the Change of Control in
accordance  with  the  provisions  of  Section  280G  of  the  Code) of both the
severance  payment  and  all  other  payments  to the Executive in the nature of
compensation  which are contingent on a change in ownership or effective control
of  the  Bank or the Company or in the ownership of a substantial portion of the
assets  of the Bank or the Company (the "Aggregate Severance") would result in a
"parachute  payment,"  as  defined  under  Section  280G  of  the Code, then the
Aggregate Severance shall not be greater than an amount equal to 2.99 multiplied
by  Executive's  "base amount" for the "base period," as those terms are defined
under  Section  280G.  In  the  event  the Aggregate Severance is required to be
reduced  pursuant  to  this  Section  3.3,  the  Executive  shall be entitled to
determine  which  portions  of the Aggregate Severance are to be reduced so that
the Aggregate Severance satisfies the limit set forth in the preceding sentence.
Notwithstanding  any  provision in this Agreement, if the Executive may exercise
his  right  to  terminate  employment  under  this  Section 3.3 or under Section
3.2.2(a),  the  Executive  may  choose  which  provision  shall  be  applicable.

     3.4     EFFECT  OF  TERMINATION.  Upon  termination  of  the  Executive's
             -----------------------
employment  hereunder  for  any  reason,  the  Employer  shall  have  no further
obligations  to  the  Executive  or  the Executive's estate with respect to this
Agreement,  except  for the payment of salary and bonus amounts, if any, accrued
pursuant  to  Sections 4.1 and 4.2 hereof and unpaid as of the effective date of
the  termination  of employment and payments set forth in Sections 3.2.1(a), (c)
or  (d);  Section 3.2.2(a); and/or Section 3.3 as applicable.  Nothing contained
herein  shall limit or impinge upon any other rights or remedies of the Employer
or  the  Executive under any other agreement or plan to which the Executive is a
party  or  of  which  the  Executive  is  a  beneficiary.

                                        6
<PAGE>
4.     COMPENSATION.  The  Executive  shall  receive  the  following  salary and
       ------------
benefits  during  the  Term,  except  as  otherwise  provided  below:

     4.1     BASE  SALARY.  Initially,  the  Executive shall be compensated at a
             ------------
base  rate of $100,000 per year (the "Base Salary").  The obligation for payment
of Base Salary shall be apportioned between the Company and the Bank as they may
agree  from  time to time in their sole discretion.  The Executive's Base Salary
shall be reviewed by the Board of Directors of the Bank and the Company at least
annually,  and  the  Executive  shall be entitled to receive annual increases in
such  amount, if any, as may be determined by the Board of Directors of the Bank
or  the Company based on its evaluation of Executive's performance.  Base Salary
shall  be  payable  in  accordance with the Employer's normal payroll practices.

     4.2     INCENTIVE  COMPENSATION.     Initially,  the  Executive  shall  be
             -----------------------
eligible for an annual bonus, if any, as determined by the Board of Directors of
the Company or the Bank pursuant to any incentive compensation program as may be
adopted from time to time by the Company or the Bank.  Commencing with the first
fiscal  month  in  which  the  Bank attains pretax profits, as determined by the
Board  of  Directors of the Company or the Bank, the Executive shall be eligible
for  an  annual bonus in an amount equal to ten percent (10%) of the Executive's
Base  Salary.  At  such  time  as  the Bank attains cumulative profitability, as
determined  by  the Board of Directors of the Company or the Bank, the Executive
shall  be  eligible  for  an  annual bonus in an amount equal to fifteen percent
(15%)  of  the  Executive's  Base  Salary.  Notwithstanding  the  foregoing, the
Executive  shall  only receive a bonus if the Bank has a CAMELS rating of 1 or 2
for the year in which the bonus will be paid and the overall financial condition
of  the  Bank,  including  its  asset quality, will not be adversely affected by
payment  of  such  bonus.

     4.3     STOCK  OPTIONS.  As  of  the  Effective Date, the Company will have
             --------------
established  a  stock incentive plan and will grant to the Executive pursuant to
such  stock  incentive  plan  an  incentive stock option to purchase a number of
shares  of the Company's common stock equal to two and one-half percent (2 %) of
the  number  of  shares  sold  in the Company's initial offering of shares at an
exercise  price  equal  to the price at which such stock was offered and sold in
the initial offering. The option generally will become vested and exercisable in
one-third  increments,  commencing  on the first anniversary of the option grant
date  and  continuing  for  the  next two (2) successive anniversaries until the
option  is  fully  vested  and exercisable. Upon a Change of Control, the option
will  become  fully  vested  and  exercisable, subject to restrictions as may be
imposed by the Bank's primary regulator.  The option shall expire generally upon
the  earliest  of  (i) three (3) months following the Executive's termination of
employment;  (ii)  one  (1)  year  following  the  Executive's  termination  of
employment  due  to  death or disability;  or (iii) the tenth anniversary of the
option  grant  date.  The  option will be issued by the Employer pursuant to the
Company's  stock  incentive  plan  and  subject  to the terms of a related stock
option  agreement.

     4.4     HEALTH  INSURANCE.
             -----------------

          The  Employer  shall  reimburse  the Executive for one-half ( ) of the
     cost  of premium payments paid by the Executive for the Executive's current
     health  insurance  covering  the Executive and the members of his immediate
     family  until  the  first  to  occur  of  the  following:

                                        7
<PAGE>
               (a)     such  time  as the Company adopts a health insurance plan
          for  employees  of  the  Company  and/or  the  Bank;

               (b)     the  Company  and  the  Bank abandon their organizational
          efforts;  or

               (c)     twelve  (12)  months  after  the  Beginning  Date.

     4.5     AUTOMOBILE.  Beginning  as of the Effective Date, the Employer will
             ----------
provide  Executive  with  an  automobile with a value not to exceed $35,000 or a
monthly  automobile lease payment not to exceed $650.  The Employer will pay the
expenses  associated  with  operating  and  maintaining  the vehicle, including,
without  limitation,  maintenance  expenses,  insurance premiums and fuel costs.
The Employer agrees to replace the automobile with a current year model not less
than  every  three (3) years or after 60,000 miles if it occurs first.  Not less
frequently  than  once annually, the Executive will make a good faith allocation
between  business  and  personal  use  of  such  vehicle as required by Internal
Revenue  Service  guidelines.

     4.6     BUSINESS  EXPENSES;  MEMBERSHIPS.  The Employer specifically agrees
             --------------------------------
to  reimburse  the  Executive  for:

          (a)     reasonable  and necessary business (including travel) expenses
     incurred  by him in the performance of his duties hereunder, as approved by
     the  Board  of  Directors  of  either  the  Bank  or  the  Company;  and

          (b)     beginning  as  of  the  Effective  Date, the dues and business
     related expenditures, including initiation fees, associated with membership
     in a single country club and a single civic association both as selected by
     the  Executive and in professional associations which are commensurate with
     his  position;

     provided,  however,  that  the  Executive  shall,  as  a  condition  of
     reimbursement,  submit  verification  of  the  nature  and  amount  of such
     expenses  in  accordance  with  reimbursement  policies  from  time to time
     adopted  by  the Employer and in sufficient detail to comply with rules and
     regulations  promulgated  by  the  Internal  Revenue  Service.

     4.7     VACATION.  On a non-cumulative basis, the Executive shall initially
             --------
be  entitled to two (2) weeks of vacation in each successive twelve-month period
during  the Term.  At such time as the Bank attains cumulative profitability, as
determined  by the Board of Directors of the Company and the Bank, the Executive
shall be entitled to three (3) weeks of vacation in each successive twelve-month
period  thereafter  during  the  Term.  During  all  vacations,  Executive's
compensation  shall  be  paid  in  full.

     4.8     LIFE  INSURANCE.  Beginning  as of the Effective Date, the Employer
             ---------------
will  provide  the  Executive  with term life insurance coverage similar to term
life  insurance  coverage  as  may  be available to other executives of the Bank
similarly  situated  to  the  Executive.   Any  death benefit offered under such
coverage  shall be payable to such beneficiary or beneficiaries as the Executive
may  designate.

                                        8
<PAGE>
     4.9     BENEFITS.  In  addition  to  the benefits specifically described in
             --------
this  Agreement,  the  Executive  shall  be  entitled to such benefits as may be
available  from time to time to executives of the Company and the Bank similarly
situated  to the Executive.  All such benefits shall be awarded and administered
in  accordance  with  the  Employer's  standard  policies  and  practices.  Such
benefits  may  include, by way of example only, profit-sharing plans, retirement
or  investment funds, dental, health, life and disability insurance benefits and
such  other  benefits  as  the  Employer  deems  appropriate.

     4.10     WITHHOLDING.  The  Employer  may  deduct  from  each  payment  of
              -----------
compensation  hereunder  all  amounts  required  to  be deducted and withheld in
accordance  with applicable federal and state income, FICA and other withholding
requirements.

5.     COMPANY  INFORMATION.
       --------------------

     5.1     OWNERSHIP  OF  COMPANY  INFORMATION.   All  Company  Information
             -----------------------------------
received  or  developed  by  the  Executive  while employed by the Employer will
remain  the  sole  and  exclusive  property  of  the  Employer.

     5.2     OBLIGATIONS  OF  THE  EXECUTIVE.  The  Executive  agrees:
             -------------------------------

          (a)     to  hold  Company  Information  in  strictest  confidence;

          (b)     not  to  use,  duplicate,  reproduce,  distribute, disclose or
     otherwise  disseminate  Company  Information or any physical embodiments of
     Company  Information;  and

          (c)     in  any  event, not to take any action causing or fail to take
     any  action  necessary  in  order  to  prevent any Company Information from
     losing its character or ceasing to qualify as Confidential Information or a
     Trade  Secret.

In  the  event  that  the  Executive  is required by law to disclose any Company
Information,  the  Executive will not make such disclosure unless (and then only
to  the extent that) the Executive has been advised by independent legal counsel
that such disclosure is required by law and then only after prior written notice
is  given  to  the Company when the Executive becomes aware that such disclosure
has  been  requested and is required by law.  This Section 5 shall survive for a
period  of  twelve  (12)  months following termination of this Agreement for any
reason  with  respect to Confidential Information, and shall survive termination
of  this Agreement for any reason for so long as is permitted by applicable law,
with  respect  to  Trade  Secrets.

     5.3     DELIVERY  UPON  REQUEST  OR  TERMINATION.  Upon  request  by  the
             ----------------------------------------
Employer, and in any event upon termination of his employment with the Employer,
the  Executive  will  promptly deliver to the Employer all property belonging to
the Employer, including, without limitation, all Company Information then in his
possession  or  control.

                                        9
<PAGE>
6.     NON-COMPETITION.  The  Executive agrees that during his employment by the
       ---------------
Employer  hereunder  and,  in  the  event  of  his  termination:

     o    by  the Employer for Cause or without Cause pursuant to either Section
          3.2.1(b)  and  (c),
     o    by  the  Executive  without  Cause  pursuant  to  Section 3.2.2(b), or
     o    by  the  Executive  in connection with a Change of Control pursuant to
          Section  3.3,

for  a period of twelve (12) months thereafter, he will not (except on behalf of
or  with  the  prior  written  consent of the Employer), within the Area, either
directly  or  indirectly,  on  his  own behalf or in the service or on behalf of
others,  as an executive employee or in any other capacity which involves duties
and  responsibilities similar to those undertaken for the Employer (including as
an  organizer  or  proposed  executive  officer of a new financial institution),
engage  in  any  business  which  is  the same as or essentially the same as the
Business  of  the  Employer.

7.     NON-SOLICITATION  OF  CUSTOMERS.  The  Executive  agrees  that during his
       -------------------------------
employment  by  the  Employer  hereunder  and,  in the event of his termination:

     o    by  the Employer for Cause or without Cause pursuant to either Section
          3.2.1(b)  and  (c),
     o    by  the  Executive  without  Cause  pursuant  to  Section 3.2.2(b), or
     o    by  the  Executive  in connection with a Change of Control pursuant to
          Section  3.3,

for  a period of twelve (12) months thereafter, he will not (except on behalf of
or  with the prior written consent of the Employer), within the Area, on his own
behalf  or in the service or on behalf of others, solicit, divert or appropriate
or  attempt  to  solicit,  divert  or  appropriate, any business from any of the
Employer's customers, including actively sought prospective customers, with whom
the  Executive  has or had material contact during the last two (2) years of his
employment,  for purposes of providing products or services that are competitive
with  the  Business  of  the  Employer.

8.     NON-SOLICITATION  OF  EMPLOYEES.  The  Executive  agrees  that during his
       -------------------------------
employment  by  the  Employer  hereunder  and,  in the event of his termination:

     o    by  the Employer for Cause or without Cause pursuant to either Section
          3.2.1(b)  and  (c),
     o    by  the  Executive  without  Cause  pursuant  to  Section 3.2.2(b), or
     o    by  the  Executive  in connection with a Change of Control pursuant to
          Section  3.3,

for  a period of twelve (12) months thereafter, he will not, within the Area, on
his  own  behalf  or  in the service or on behalf of others, solicit, recruit or
hire  away  or  attempt  to  solicit,  recruit or hire away, any employee of the
Employer  or  its  Affiliates  to another person or entity providing products or
services that are competitive with the Business of the Employer, whether or not:

     o    such  employee  is a full-time employee or a temporary employee of the
          Employer  or  its  Affiliates,
     o    such  employment  is  pursuant  to  written  agreement,  and
     o    such  employment  is  for  a  determined  period  or  is  at  will.

                                       10
<PAGE>
9.     REMEDIES.  The  Executive agrees that the covenants contained in Sections
       --------
5 through 8 of this Agreement are of the essence of this Agreement; that each of
the covenants is reasonable and necessary to protect the business, interests and
properties  of  the  Employer,  and  that  irreparable  loss  and damage will be
suffered  by the Employer should he breach any of the covenants.  Therefore, the
Executive  agrees and consents that, in addition to all the remedies provided by
law  or  in  equity,  the  Employer shall be entitled to a temporary restraining
order  and  temporary  and  permanent  injunctions  to  prevent  a  breach  or
contemplated  breach  of  any  of the covenants.  The Employer and the Executive
agree  that  all  remedies  available  to  the  Employer  or  the  Executive, as
applicable,  shall  be  cumulative.

10.     SEVERABILITY.  The parties agree that each of the provisions included in
        ------------
this  Agreement is separate, distinct and severable from the other provisions of
this  Agreement  and  that  the  invalidity or unenforceability of any Agreement
provision shall not affect the validity or enforceability of any other provision
of this Agreement.  Further, if any provision of this Agreement is ruled invalid
or  unenforceable  by  a  court  of competent jurisdiction because of a conflict
between  the  provision  and  any applicable law or public policy, the provision
shall be redrawn to make the provision consistent with and valid and enforceable
under  the  law  or  public  policy.

11.     NO SET-OFF BY THE EXECUTIVE.  The existence of any claim, demand, action
        ---------------------------
or  cause  of  action by the Executive against the Employer, or any Affiliate of
the  Employer,  whether  predicated  upon this Agreement or otherwise, shall not
constitute  a  defense  to  the enforcement by the Employer of any of its rights
hereunder.

12.     NOTICE.  All  notices  and  other  communications  required or permitted
        ------
under  this  Agreement shall be in writing and, if mailed by prepaid first-class
mail  or  certified mail, return receipt requested, shall be deemed to have been
received  on  the earlier of the date shown on the receipt or three (3) business
days  after  the postmarked date thereof.  In addition, notices hereunder may be
delivered  by  hand  or  overnight  courier,  in which event the notice shall be
deemed effective when delivered. All notices and other communications under this
Agreement  shall  be  given  to  the  parties hereto at the following addresses:

          (i)     If  to  the  Company,  to  it  at:

                  Generations  Bancshares,  Inc.
                  199  D  Highway  515
                  Blairsville,  Georgia  30512

          (ii)    If  to  the  Bank,  to  it  at:

                  Generations  Bank
                  ________________________________________
                  ________________________________________

                                       11
<PAGE>
          (iii)   If  to  the  Executive,  to  him  at:

                  David  K.  George
                  2453  Walls  Mountain
                  Hiawassee,  Georgia  30546

13.     ASSIGNMENT.  Neither  party hereto may assign or delegate this Agreement
        ----------
or  any  of  its rights and obligations hereunder without the written consent of
the  other  party  to  this  Agreement.

14.     WAIVER.  A  waiver  by one party to this Agreement of any breach of this
        ------
Agreement  by the other party to this Agreement shall not be effective unless in
writing,  and no waiver shall operate or be construed as a waiver of the same or
another  breach  on  a  subsequent  occasion.

15.     ARBITRATION.  Any  controversy  or  claim  arising out of or relating to
        -----------
this contract, or the breach thereof, shall be settled by binding arbitration in
accordance  with  the  Commercial  Arbitration Rules of the American Arbitration
Association.  Judgment  upon the award rendered by the arbitrator may be entered
only  in  the  State  Court  of  Georgia  or  the federal court for the Northern
District  of Georgia.  The Employer and the Executive agree to share equally the
fees  and  expenses  associated with the arbitration proceedings. EXECUTIVE MUST
INITIAL  HERE:  _____.

16.     ATTORNEYS'  FEES.  In the event that the parties have complied with this
        ----------------
Agreement  with respect to arbitration of disputes and litigation ensues between
the  parties  concerning  the  enforcement  of  an  arbitration award, the party
prevailing  in such litigation shall be entitled to receive from the other party
all reasonable costs and expenses, including without limitation attorneys' fees,
incurred  by  the  prevailing  party in connection with such litigation, and the
other  party  shall pay such costs and expenses to the prevailing party promptly
upon  demand  by  the  prevailing  party.

17.     APPLICABLE  LAW.  This  Agreement  shall be construed and enforced under
        ---------------
and  in  accordance  with  the  laws  of  the  State  of  Georgia.

18.     INTERPRETATION.  Words  importing any gender include all genders.  Words
        --------------
importing  the singular form shall include the plural and vice versa.  The terms
"herein",  "hereunder", "hereby", "hereto", "hereof" and any similar terms refer
to  this  Agreement.  Any captions, titles or headings preceding the text of any
article,  section  or  subsection herein are solely for convenience of reference
and  shall  not  constitute  part  of  this  Agreement  or  affect  its meaning,
construction  or  effect.

19.     ENTIRE  AGREEMENT.  This  Agreement  embodies  the  entire  and  final
        -----------------
agreement  of  the  parties  on the subject matter stated in this Agreement.  No
amendment  or  modification of this Agreement shall be valid or binding upon the
Employer  or  the  Executive  unless made in writing and signed by both parties.
All  prior  understandings and agreements relating to the subject matter of this
Agreement  are  hereby  expressly  terminated.

                                       12
<PAGE>
20.     RIGHTS  OF  THIRD  PARTIES.  Nothing  herein expressed is intended to or
        --------------------------
shall  be  construed to confer upon or give to any person, firm or other entity,
other  than  the  parties  hereto  and  their  permitted  assigns, any rights or
remedies  under  or  by  reason  of  this  Agreement.

21.     SURVIVAL.  The  obligations  of the Executive pursuant to Sections 5, 6,
        --------
7,  8  and  9  shall  survive the termination of the employment of the Executive
hereunder  for  the  period  designated under each of those respective sections.

22.     JOINT  AND  SEVERAL.  The  obligations  of  the  Bank and the Company to
        -------------------
Executive  hereunder  shall  be  joint  and  several.

     IN  WITNESS  WHEREOF,  the  Employer  and  the  Executive have executed and
delivered  this  Agreement  as  of  the  date  first  shown  above.

                              THE  BANK:

                              GENERATIONS  BANK  (PROPOSED)

                              By:  /s/  Robert  M.  Thomas,  Jr.
                                   --------------------------------
                              Print Name: _________________________
                              Title: ______________________________

                              THE  COMPANY:

                              GENERATIONS  BANCSHARES,  INC.

                              By:  /s/  Robert  M.  Thomas,  Jr.
                                   --------------------------------
                              Print Name: _________________________
                              Title: ______________________________

                              THE  EXECUTIVE:

                                   /s/  David  K.  George
                                   --------------------------------

                                       13
<PAGE>
                                    Exhibit A
                                    ---------

                         Initial Duties of the Executive
                         -------------------------------

                             CHIEF EXECUTIVE OFFICER

Function:
---------

Has overall responsibility for the leadership of the organization in all aspects
of  its  activities  to  insure  safety  and  soundness,  maximize return to the
shareholders,  and  meet  the needs of its various constituencies (shareholders,
Board  of  Directors,  customers,  employees,  regulators,  and  communities).

Principal  Accountabilities:
----------------------------

1.   Develops  and  implements  the overall business strategy of the Company and
     the  Bank, its culture and mission statement. Responsible for the planning,
     implementation  and  control  of long-term and short-term goals, as well as
     strategic  plans.

2.   Provides  leadership  and  direction  in  establishing,  implementing,
     monitoring,  and  achieving  the  annual  business  plan.

3.   Oversees  employee  selection,  training,  professional  development  and
     performance  at  all  levels  within the Company and the Bank. Ensures each
     employee  has  clarity  of  job  responsibilities and defined standards and
     goals.

4.   Provides leadership in establishing overall policies and procedures such as
     credit  policy,  investment  policy, risk tolerance levels, and operational
     procedures.

5.   Works  closely  with  the  Chief  Financial  Officer  to insure appropriate
     financial  reporting  and  that  proper accounting procedures are utilized.

6.   Works  closely  with  the Senior Lending Officer to monitor quality of loan
     portfolio  and  that  loans  comply  with  the  Bank's  lending  policy.

7.   Provides  active  leadership  in  the  development and implementation of an
     effective  CRA  program  including  active  involvement in ascertaining the
     communities'  credit  needs.

8.   Originates  and  approves loans, acting within the approved loan limits and
     guidelines  approved  by  the  Board  of  Directors.

                             Exhibit A - Page 1 of 2
<PAGE>
9.   Participates  actively  in community and civic activities so as to create a
     positive  public  perception of the Company and the Bank. Also, is actively
     involved  in  business  development  activities  to  solicit  and  maintain
     sufficient  business  to  meet  and/or  exceed  established  goals.

10.  Responsible for maintaining sound relationships with the various regulatory
     agencies and managing the Bank to meet or exceed all regulatory guidelines.

                             Exhibit A - Page 2 of 2
<PAGE>

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