Document:

mdce_ex1057.htm

EXHIBIT 10.57

NEW ENGINEERING SERVICES AGREEMENT

 

THIS AGREEMENT made effective May 1st, 2012 (the "Effective Date"). BETWEEN:

 

MEDICAL CARE TECHNOLOGIES INC., a body corporate, incorporated pursuant to the laws of the State of Nevada, U. S. A.

 

(hereinafter referred to as the "Corporation")

OF THE FIRST PART

- and -

 

BARRY P.N. TSAI, a resident of the city of Toronto, in the Province of Ontario, Canada (hereinafter referred to as the "Consultant")

 

OF THE SECOND PART

 

WHEREAS the Corporation wishes to engage the services and expertise of the Consultant on the terms and conditions hereinafter set forth, and the Consultant wishes to accept such an engagement;

 

NOW THEREFORE in consideration of the covenants of each of the parties given to the other and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1.     SERVICES

 

1.1 Effective as of the Effective Date, the Corporation engages the Consultant and the Consultant accepts an engagement with the Corporation to render the consulting services for the Corporation as set out in Schedule A. During the term of this Agreement, the Consultant shall devote such of his time, attention and abilities to the business of the Corporation as may be necessary for the proper exercise of the Consultant's duties hereunder. Nothing in this Agreement shall be interpreted or construed as creating or establishing a relationship of employer and/or employee between the Corporation and the Consultant.

 

2.     DUTIES

 

2.1 The Consultant shall devote reasonable time and effort to the performance of this Agreement. The Corporation acknowledges that the Consultant shall also be entitled to render services to others during the term hereof.

 

2.2 The Consultant's duties shall be to provide the services more particularly set forth on Schedule A hereto.

 

3.     REMUNERATION

 

3.1 The Corporation agrees to pay the Consultant as set out in Schedule B attached hereto.

 

  

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4.     CONFIDENTIALITY

 

4.1 This Consultant acknowledges the Corporation will have reporting and disclosure obligations under all applicable securities legislation. The Consultant covenants and agrees that it shall not any time, during or after the termination of the Consultant's engagement by the Corporation, reveal, divulge, or make known to any person (other than the Corporation or its affiliates) or use for its own account any customer's lists, trade secrets, or secret or confidential information used by the Corporation or its affiliates during the Consultant's engagement by any of them and made known (whether or not with the knowledge and permission of the Corporation, whether or not developed, devised or otherwise created in whole or in part by the efforts of the Consultant, and whether or not a matter of public knowledge unless as a result of authorized disclosure) to the Consultant by reason of its engagement by the Corporation or any of its affiliates. The Consultant further covenants and agrees that all knowledge and information, which is acquired or developed for the Corporation or any of its affiliates by the Consultant, is the property of the Corporation. The Consultant further covenants and agrees that it shall retain all such knowledge and information which it shall acquire and develop during such engagement respecting such customer lists, trade secrets and secret or confidential information in trust for the sole benefit of the Corporation, its affiliates, and their successors and assigns.

 

4.2 The Consultant shall promptly communicate and disclose to the Corporation all observations made and data obtained by it in the course of its engagement by the Corporation. All written materials, records and documents created by the Consultant or coming into its possession concerning the business or affairs of the Corporation or any of its Affiliates shall, upon the termination of this Agreement, promptly be returned to the Corporation. Upon the request of the Corporation until termination of its engagement by the Corporation, the Consultant shall render to the Corporation or to any Affiliate designated by it such reports of the activities undertaken by the Consultant or conducted under the Consultant's direction for the Corporation and its affiliates as the Corporation may request.

 

4.3 The Consultant warrants and represents that it is duly qualified to perform its duties hereunder, and further covenants that in performing its duties hereunder, it will not engage in activity that is in violation of applicable securities laws or subject the Corporation to liability thereunder.

 

4.4 The Consultant agrees that for a period of one (1) year after the termination of work with the Corporation, it will not do any business whatsoever with clients of the Corporation for substantially similar work.

 

5.     TERM

 

5.1 This Agreement shall be for a term commencing May 1st, 2012 and terminating August 31st, 2012.

 

5.2 In the event the Corporation terminates this Agreement, the Corporation shall pay to the Consultant a mutually agreed to settlement. If at the time of any such termination, the Consultant is in fundamental breach of this Agreement, the Corporation shall not be required to pay any damages.

 

6.     CHANGE OF CONTROL AND SALE OF CORPORATION

 

6.1 A change of control in the Corporation shall be defined as the sale of all or substantially all of the assets of the Corporation.

 

6.2 The date on which Item 6.1 is deemed effected shall also be deemed the effective date of a change of control for all calculations under this Item 6.

 

6.3 In the event that a change of control in the Corporation should occur within three months of the Effective Date of this agreement, the Corporation will pay to the Consultant an amount equal to two months of the Consultant's base consulting fee in effect as at the effective date of the change of control.

 

6.4 The Corporation acknowledges that in the event of a change of control of the Corporation or a sale of all or substantially all of the assets of the Corporation, there is a possibility that the services of the Consultant would no longer be required and that this contract might be terminated. The Corporation further acknowledges that the Corporations obligations outlined in item 6.3 shall remain in effect should the Consultants services not be terminated upon a change of control.

 

  

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7.     NOTICES

 

Any notices delivered or received between either party shall be deemed to have been received:

 

a.      if it was delivered by courier, on the date it was received;

b.      if it was delivered in person, on the date it was delivered;

c.      if it was sent by facsimile transmission, on the date it was delivered;

d.      if it was sent by electronic mail, on the date it was received to the email address for the Corporation (contact@medicaretechinc.com) or for the Consultant (bpntsai@gmail.com);

e.      it was sent by mail, on the day it was received to the following address:

 

MEDICAL CARE TECHNOLOGIES INC.

 

Room 815, No. 2 Building Beixiaojie 

Dongzhimen Nei, Beijing, PRC 10009 

Attention: Chairman and CEO 

By Facsimile: (852) 2575-5444

 

BARRY P.N. TSAI

 

Unit #502, 225 Bamburgh Circle 

Scarborough, ON

Canada M1W 3X9

 

8.     MODIFICATION OF AGREEMENT

 

Any modification of this Agreement must be made in writing signed by the Consultant and an officer of the Corporation or it shall have no effect and shall be void.

 

9.     GOVERNING LAW

 

This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, USA and the parties agree to attorn to the jurisdiction of the courts of the State of Nevada.

 

10.   HEADINGS

 

The headings utilized in this Agreement are for convenience only and are not to be construed in any way as additions or limitations of the covenants and agreements contained in this Agreement.

 

11.   ENTIRE AGREEMENT

 

The covenants in this Agreement shall be construed as an agreement independent of any other provision in this Agreement. The parties acknowledge that it is their intention that the provisions of this Agreement be binding only to the extent that they may be lawful under the existing applicable laws and in the event that any provision of this Agreement is determined by a court of law to be overly broad or unenforceable, the remaining valid provisions shall remain in full force and effect. This Agreement constitutes the sole agreement between the parties hereto for services to be performed as herein described and the mutual covenants contained herein constitute due and adequate consideration for the full performance by each party of its obligations under this Agreement and any and all previous agreements, written or oral, expressed or implied, between the parties or on their releases and forever discharges the other of and from all manner of action, causes of action, claims or demands whatsoever under or in respect of any agreement.

 

12.   GENERAL MATTERS

 

12.1 The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of the same or of any other provisions of this Agreement.

 

  

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Tsai - Engineering Services Consultant / MDCE

 

12.2 This Agreement shall be binding upon the parties hereto and shall enure to the benefit of and be enforceable by each of the parties hereto and their respective successors and assigns.

 

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

 

 

	MEDICAL CARE TECHNOLOGIES INC.  	 	BARRY P.N. TSAI	 
	 	 	 	 	 	 
	By:		 	By:		 
	 	 	 	 	 	 
	Ning C. Wu, President	 	 	 	 

 

 

  

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SCHEDULE A

 

Services:

 

	
1.  

	
Report to the Chief Technology Officer, Chief Operations Officer, and President, providing the services of Engineering Services Consultant of the Corporation (and its subsidiaries) and, in this regard, to have responsibility for the direction, and operation of the Corporation (and its subsidiaries) in all technical specification aspects, and to do all acts and things as are reasonably necessary for the efficient and proper technical operation and development of the Corporation (and its subsidiaries);

 

	
2.  

	
Provide technical specifications of power system for medical equipment and computer environment;

 

	
3.  

	
Design and review various medical centre's electrical system;

 

	
4.  

	
Provide high quality technical report(s);

 

Others:

 

• Contract negotiation and management, network planning and constraint analysis

• Operation and maintenance and health and safety issues

• Controller and equipment modelling, Harmonic Analysis and filter design

• Protection and co-ordination, Control system design and analysis

 

  

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SCHEDULE B

 

Remuneration:

 

	
1.  

	
As full consideration for performance of the services by the Consultant, the Corporation shall pay the Consultant at the rate of US$16,250.00 for each month for which services are provided. The said rate shall be inclusive of all claims by the Consultant for its services, but shall be exclusive of travel and accommodation expenses incurred by the Consultant and properly claimable in accordance with the provisions hereof.

 

	
2.  

	
As full consideration for the performance of the services by the Consultant, the Corporation shall pay the Consultant common stock shares of the Corporation and the Corporation agrees to issue to the Consultant (at Consultant's direction as to individual designee) non-refundable, non-accountable, non-assessable compensation in the form of 65,000,000 common stock shares of the Corporation in total subject to the conditions of this Section 2 (the "Shares"). All the Shares shall be issued by the Corporation pursuant to the timely filing of a (Consultants and Advisors) Form S-8 Registration. All Shares are due and shall be issued upon acceptance by the U.S. Securities and Exchange Commission ("SEC") of the Form S-8 Registration. The Shares shall be issued to Barry P.N. Tsai, pursuant to the provisions of the SEC rules governing S-8 Registrations.

 

	
3.  

	
The Consultant will be provided with a US$25.00 per diem for each day the Consultant is either in China or in transit to China on Corporation business. The per diem shall be designated for use in covering the Consultants costs associated with the Corporation's designated housing, personal meals and local travel incurred during the Consultants stay in China. Costs associated with non-designated housing, airfare between Chinese sites, business dinners, local filing fees and other business related charges shall be expensed to the Corporation.

 

	
4.  

	
The Consultant will work on a basis of 3 (three) weeks in China, and 1 (one) week in the USA.

 

	
5.  

	
The Consultant shall submit invoices to the Corporation for each month or portion thereof for which services are provided during the period covered by the invoice and also including any proper claim for business related expenses. Each invoice shall indicate the period covered, the month or portion of a month worked, the rate and the total charge for consultancy services.

 

	
6.  

	
The Consultant will be responsible for the payment of his income taxes, as well as any and all other taxes and contributions imposed by law. In the event the Consultant should fail to make any such payments, the Consultant indemnifies the Corporation for any claims, causes or action, or liabilities which may be made, advanced or incurred against the Corporation as a result of such non-payment, and agrees to be responsible for the Corporation's solicitor-client costs in defending or protecting itself.

 

	
7.  

	
The Corporation will pay all proper invoices received from the Consultant promptly following receipt of the applicable invoice and any necessary supported documentation.

 

	
8.  

	
The Consultant will be entitled to participate (at the discretion of the Corporation) in any bonus program of the Corporation resulting from achieving milestones in the business of the Corporation.

 

	
9.  

	
The Corporation shall not be required to provide any health benefits to the Consultant including, without limitation, dental, medical, disability, or life insurance or retirement benefits.

 

	
10.  

	
The Corporation will, if it determines it to be necessary in its total discretion, ensure that appropriate liability insurance coverage is provided to the Consultant at no cost to the Consultant.

 

 

 6RestrictedStockAgreement-StateBank_SEPT_2012Grant_XO

RESTRICTED STOCK AGREEMENT

STATE BANK FINANCIAL CORPORATION 
2011 OMNIBUS EQUITY COMPENSATION PLAN
GRANTEE: ________
NO. OF SHARES: ________
GRANT DATE: ________

This Restricted Stock Agreement (the “Agreement”) evidences the grant to the Grantee named above (“you”) of the number of restricted shares set forth above (each, an “Award Share,” and collectively, the “Award Shares”) of the $0.01 par value common stock of State Bank Financial Corporation, a Georgia corporation (the “Company”) as of the date of grant set forth above (the “Grant Date”), pursuant to the State Bank Financial Corporation 2011 Omnibus Equity Compensation Plan (the “Plan”) and conditioned upon your agreement to the terms described below.  All of the provisions of the Plan are expressly incorporated into this Agreement.

		
	1.
	Terminology.  Capitalized words used in this Agreement and not defined herein shall have the meaning set forth in the Plan.

		
	2.
	Vesting.  

(a)    As of the Grant Date, all Award Shares are unvested.  Upon the fifth anniversary of the Grant Date, all Award Shares shall become vested, unless vested earlier in accordance with this Agreement or as directed by the Committee. 

(b)    Notwithstanding anything herein to the contrary, all Award Shares shall become vested concurrent with the consummation of a Change in Control as defined in Section 2.1(f) of the Plan.

(c)    Notwithstanding anything herein to the contrary, all Award Shares shall become vested six (6) months following your retirement.  For the purposes of this subsection (c), the term “retirement” shall mean (i) your voluntary withdrawal from your employment by the Company or any Affiliate thereof, (ii) which is deemed by resolution of the Committee to be a retirement, and (iii) you do not work (either as an employee or independent consultant) for any financial institution, other than State Bank, in the State of Georgia during such 6-month period.

		
	3.
	Termination of Employment.  If your employment with the Company (including any Affiliate of the Company) ceases for any reason, all Award Shares that are not then vested will be immediately and automatically forfeited and cancelled upon the date of termination of employment except that all Award Shares shall be fully vested if your employment ends on account of your: (a) retirement in accordance with the provisions of Section 2(c) above; (b) death; or (c) Permanent Disability.

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	4.
	Restrictions on Transfer. 

		
	(a)
	Until an Award Share becomes vested, it may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process.

		
	(b)
	The Company shall not be required to (i) transfer on its books any Award Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Award Shares, or otherwise accord voting, dividend or liquidation rights to, any transferee to whom Award Shares have been transferred in contravention of this Agreement.

		
	(c)
	Upon vesting, an Award Share shall be transferred to you without restrictions on further transfer in accordance with Section 5.

		
	5.
	Stock Certificates.  You will be reflected as the owner of record of the Award Shares as of the Grant Date on the Company’s books.  The Company, or its transfer agent, will hold the share certificates for safekeeping, or otherwise retain the Award Shares in uncertificated book entry form, until all the Award Shares become vested or have otherwise been forfeited in accordance with Section 3.  Once all of the Award Shares have vested or have otherwise been forfeited in accordance with Section 3, the Company, or its transfer agent, will deliver a stock certificate to you for the outstanding vested Award Shares.  Until the Award Shares become vested, any share certificates representing such shares will include a legend to the effect that you may not sell, assign, transfer, pledge, or hypothecate the Award Shares pursuant to this Agreement and the Plan.  At the execution of this Agreement, you shall deliver to the Company a stock power, endorsed in blank, with respect to any Award Shares that may be forfeited pursuant to this Agreement.   

		
	6.
	Taxes: Election and Withholding.  

(a)  You hereby agree to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if any, which arise in connection with the grant or vesting of the Award Shares.  You may elect, or the Company shall have the right, to deduct from any compensation or any other payment of any kind (including withholding the issuance of shares of Stock) due you the amount of any federal, state, local or foreign taxes required by law to be withheld as a result of the grant or vesting of the Award Shares in whole or in part; provided, however, that the value of the shares of Stock withheld may not exceed the statutory minimum withholding amount required by law.  The Company may report any income to the Internal Revenue Service and any other applicable governmental entity, even if you refuse to make any tax or withholding payments.  The value of Award Shares deducted is based on the Fair Market Value of the shares of Stock on the applicable date of vesting.

(b)  You hereby acknowledge that you have been advised by the Company to seek independent tax advice from your own advisors regarding the availability and advisability of making an election under Section 83(b) of the Code, and that any such election, if made, must be made within 30 days of the Grant Date.  If you make an election under 83(b) of the Code, you agree to promptly deliver a copy 

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of such election to the Company.  You expressly acknowledge that you are solely responsible for filing any such Section 83(b) election with the appropriate governmental authorities, irrespective of the fact that such election is also delivered to the Company.  You may not rely on the Company or any of its officers, directors or employees for tax or legal advice regarding this award.  

(c)  You hereby agree that any Award Shares and any acceleration of vesting of Award Shares are subject to inclusion in “Total Payments” under Section 3.3.3 of your Employment Agreement with the Company (including any Affiliate), which is incorporated herein by this reference.

		
	7.
	Adjustments for Corporate Transactions and Other Events.

(a)    Stock Dividend, Stock Split, Reverse Stock Split and Other Changes.  Upon a stock dividend of, or stock split or reverse stock split affecting, the Stock, the number of unvested Award Shares shall, without further action of the Committee or Administrative Agent, be adjusted to reflect such event.  The Award Shares shall be adjusted for other changes in the number or kind of outstanding Stock by the Committee in accordance with Sections 4 and/or 12 of the Plan.  The Administrative Agent may make adjustments, in its discretion, to address the treatment of fractional shares with respect to the Award Shares as a result of the stock dividend, stock split or reverse stock split.  Adjustments under this Section 7 will be made by the Committee, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive.  No fractional Award Shares will result from any such adjustments.

		
	(b)
	Binding Nature of Agreement.  The terms and conditions of this Agreement shall apply with equal force to any additional and/or substitute securities received by you in exchange for, or by virtue of your ownership of, the Award Shares, whether as a result of any spin-off, stock split-up, stock dividend, stock distribution, other reclassification of the Stock of the Company, or similar event, except as otherwise determined by the Committee.  If the Award Shares are converted into or exchanged for, or shareholders of the Company receive by reason of any distribution in total or partial liquidation or pursuant to any merger of the Company or acquisition of its assets, securities of another entity, or other property (including cash), then the rights of the Company under this Agreement shall inure to the benefit of the Company’s successor, and this Agreement shall apply to the securities or other property received upon such conversion, exchange or distribution in the same manner and to the same extent as the Award Shares and such securities or other property shall be considered “Award Shares” for all purposes under this Agreement.

		
	(c)
	Required Forfeitures and Clawbacks  Each Award Share is conditioned on your forfeiting, waiving, or repaying to the Company any amount or Award Share as may be required in compliance with Section 304 of the Sarbanes-Oxley Act, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the Company’s clawback compliance policy as in effect from time to time and as directed by the Committee.  You agree to execute any documents to effect any required forfeiture, waiver or clawback.  You agree to assign any Award Shares to the Company or pay any cash amount in lieu thereof as may be required for such compliance.

		
	(d)
	Non-Guarantee of Employment or Service Relationship.  Nothing in the Plan or this Agreement shall alter your at-will or other employment status or other service relationship with the Company, nor be construed as a contract of employment or service 

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relationship between the Company and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without cause or notice and whether or not such discharge results in the forfeiture of any Award Shares or any other adverse effect on your interests under the Plan.

		
	(e)
	Rights as Shareholder.  Except as otherwise provided in this Agreement with respect to the Award Shares which have not vested, you are entitled to all rights of a shareholder of the Company, including the right to vote the Award Shares (subject to any applicable Voting Agreement or similar arrangement to which you may be a party) and receive dividends and/or other distributions declared on the Award Shares.

		
	(f)
	The Company’s Rights.  The existence of the Award Shares shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

		
	(g)
	Notices.  All notices and other communications made or given pursuant to this Agreement shall be in writing and shall be sufficiently made or given if hand delivered, mailed by certified mail, transmitted by facsimile or email, addressed to you at the address contained in the records of the Company, or addressed to the Administrative Agent, care of the Company for the attention of its Corporate Secretary at its principal executive office.

		
	(h)
	Entire Agreement.  This Agreement, together with the Plan, contains the entire agreement between the parties with respect to the Award Shares granted hereunder.  Any oral or written agreements, representations, warranties, written inducements, or other communications made prior to the execution of this Agreement with respect to the Award Shares granted hereunder shall be void and ineffective for all purposes.

		
	(i)
	Severability.  If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith.  In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

		
	(j)
	Amendment.  This Agreement may be amended from time to time by the Committee in its discretion; provided, however, that this Agreement may not be modified in a manner that would have an adverse effect on the Award Shares as determined in the discretion of the Committee, except as provided in the Plan or in a written document signed by each of the parties hereto.

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	(k)
	Conformity with Plan.  This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan.  Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of this Agreement.  A copy of the Plan has been provided to you.

		
	(l)
	Governing Law. The validity, construction and effect of this Agreement, and of any determinations or decisions made by the Committee or the Administrative Agent relating to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement, shall be determined exclusively in accordance with the laws of the State of Georgia, without regard to its provisions concerning the applicability of laws of other jurisdictions.  

		
	(m)
	Headings.  The headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

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

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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer.
STATE BANK FINANCIAL CORPORATION
By:                          
Name:                         
Title:                         

Date:                         

The undersigned hereby acknowledges that he/she has carefully read this Agreement and agrees to be bound by all of the provisions set forth herein.
GRANTEE
                                
Name: 

Date:                         

Address:                     
                      

Facsimile:                     

Enclosure:  State Bank Financial Corporation 
                  2011 Omnibus Equity Compensation Plan

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{This Stock Power should be signed in blank and deposited with the Company if share certificates are issued and/or delivered to the Grantee for Award Shares that are forfeitable.}

STOCK POWER

FOR VALUE RECEIVED, the undersigned, ___________________________, hereby sells, assigns and transfers unto State Bank Financial Corporation, a Georgia corporation (the “Company”), or its successor, _________ shares of restricted common stock, par value $0.01 per share, of the Company standing in my name on the books of the Company, represented by Certificate No. ___, which is attached hereto, and hereby irrevocably constitutes and appoints ______________________________ as my attorney-in-fact to transfer the said stock on the books of the Company with full power of substitution in the premises.

This Stock Power may only be used in connection with the forfeiture of Award Shares pursuant to that certain Restricted Stock Agreement between ____________ and the Company, dated ______________ , 2011.

____________________________________
Name: 

Dated: ______________________________

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~#4812-3959-2458 v.1~

IF YOU WISH TO MAKE A SECTION 83(B) ELECTION, THE FILING OF SUCH ELECTION IS YOUR RESPONSIBILITY.

THE FORM FOR MAKING THIS SECTION 83(B) ELECTION IS ATTACHED TO THIS AGREEMENT AS EXHIBIT A.

YOU MUST FILE THIS FORM WITHIN 30 DAYS OF THE DATE OF GRANT OF THE SHARES.

YOU (AND NOT THE COMPANY OR ANY OF ITS AGENTS) SHALL BE SOLELY RESPONSIBLE FOR FILING SUCH FORM WITH THE IRS, EVEN IF YOU REQUEST THE COMPANY OR ITS AGENTS TO MAKE THIS FILING ON YOUR BEHALF AND EVEN IF THE COMPANY OR ITS AGENTS HAVE PREVIOUSLY MADE THIS FILING ON YOUR  BEHALF.

The election should be filed by mailing a signed election form by certified mail, return receipt requested to the IRS Service Center  where you file your tax returns. See www.irs.gov

EXHIBIT A
ELECTION UNDER SECTION 83(b) OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED 
The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in his or her gross income for the current taxable year, the amount of any compensation taxable to him or her in connection with his or her receipt of the property described below:
		
	1.
	The name, address, taxpayer identification number and taxable year of the undersigned are as follows:

NAME OF TAXPAYER:  [_____________]    SPOUSE:   [_____________]
TAXPAYER’S ADDRESS:    [_____________]
[_____________]
TAXPAYER ID #:            SPOUSE’S ID #:    
		
	2.
	The property with respect to which the election is made is described as follows:  [________] shares (the “Shares”) of the Common Stock of State Bank Financial Corporation (the “Company”).

		
	3.
	The date on which the property was transferred is: [Date].

		
	4.
	The property is subject to the following restrictions:  [describe].

		
	5.
	The fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of such property is:  $[______].

		
	6.
	The amount, if any, paid for such property:  $[_________].

The undersigned has submitted a copy of this statement to the person for whom the services were performed in connection with the undersigned’s receipt of the above-described property.  The transferee of such property is the person performing the services in connection with the transfer of said property.
The undersigned understand(s) that the foregoing election may not be revoked except with the consent of the Commissioner.
Dated:    .        
[_____________], Taxpayer
The undersigned spouse of taxpayer joins in this election.
Dated:    .        
[_____________], Spouse of Taxpayer

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