Document:

exhibit10_22.htm

    FOURTH
AMENDMENT

    TO
THE

    MCINTOSH
STATE BANK

    SALARY
CONTINUATION AGREEMENT

    DATED
DECEMBER 8, 1985

    AS
AMENDED

    FOR

    WILLIAM
KEY MALONE, SR.

     

    

    THIS FOURTH AMENDMENT is adopted
this  30th  day
of November, 2008, by and between MCINTOSH STATE BANK, a state-chartered
commercial bank located in Jackson, Georgia (the “Company”), and WILLIAM KEY
MALONE, SR. (the “Executive”).

    

    The Company and the Executive executed
the Salary Continuation Agreement on December 8, 1985 effective January 1, 2001
and amended October 1, 1999, October 1, 2001 and January 9, 2007 (the
“Agreement”).

    

    The undersigned hereby amend the
Agreement to reflect the final 409A Treasury Regulations. Therefore, the
following changes shall be made:

    

    Section
1.1.1 of the Agreement shall be deleted in its entirety and replaced by the
following:

    

    
      	
              1.1.1

            	
              “Change
      of Control” means a change in the ownership or effective control of
      the Company or any entity which is the majority shareholder of the
      Company, or in the ownership of a substantial portion of the assets of the
      Company or any entity which is the majority shareholder of the Company, as
      such change is defined in Section 409A of the Code and regulations
      thereunder.

            

    

    

    Sections
2.4, 2.4.1 and 2.4.2 of the Agreement shall be deleted in their entirety and
replaced by the following:

    

    
      	
              2.4

            	
              Change of Control
      Benefit.  Upon Change of Control, the Company shall pay
      to the Executive the benefit described in this Section 2.4 in lieu of any
      other benefit under this Agreement.

            

    

    

    
      	
              2.4.1

            	
              Amount of
      Benefit.  The annual benefit under this Section 2.4 is
      the Change of Control Benefit amount set forth in Schedule
    A.

            

    

    

    
      	
              2.4.2

            	
              Payment of
      Benefit.  The Company shall pay the annual benefit amount
      to the Executive in twelve (12) equal monthly installments payable on the
      first day of each month commencing with the month following a Change of
      Control and continuing for two hundred thirty nine (239) additional
      months.

            

    

    

    

    IN WITNESS OF THE ABOVE, the
Company and the Executive hereby consent to this Fourth Amendment.

    

    

    Executive:                                                                                     MCINTOSH
STATE BANK

    

    

     /s/  William
Key Malone,
Sr.                       
By /s/  James P.
Doyle

    WILLIAM
KEY MALONE,
SR.                                 
             Title    Executive Vice
Presidentexhibit10_23.htm

    SECOND
AMENDMENT

    TO
THE

     MCINTOSH
STATE BANK

    DIRECTOR
RETIREMENT AGREEMENT

    DATED
DECEMBER 19, 2002

    AND
AMENDED JANUARY 9, 2007

    FOR

     JOHN
L. CARTER

     

     

    THIS SECOND AMENDMENT is adopted this
30th
day of November, 2008, by and between MCINTOSH STATE BANK, a state-chartered
commercial bank located in Jackson, Georgia (the “Company”), and JOHN L. CARTER
(the “Director”).

    

    The Company and the Director executed
the DIRECTOR RETIREMENT AGREEMENT on December 19, 2002 effective as of January
1, 2003, and executed a First Amendment on January 9, 2007 (the
“Agreement”).

    

    The undersigned hereby amend the
Agreement for the purpose of bringing the Agreement into compliance with Section
409A of the Internal Revenue Code.  Therefore, the following changes
shall be made:

    

    Section 1.1 of the Agreement shall be
deleted in its entirety and replaced by the following:

    

    
      	
              1.1

            	
              “Change
      of Control” means a change in the ownership or effective control of
      the Company or any entity which is the majority shareholder of the
      Company, or in the ownership of a substantial portion of the assets of the
      Company or any entity which is the majority shareholder of the Company, as
      such change is defined in Section 409A of the Code and regulations
      thereunder.

            

    

    

    Sections 2.3, 2.3.1 and 2.3.2 of the
Agreement shall be deleted in their entirety and replaced by the
following:

    

    
      	
              2.3

            	
              Change of Control
      Benefit.  Upon a Change in Control, the Company shall pay
      to the Director the benefit described in this Section 2.3 in lieu of any
      other benefit under this Agreement.

            

    

    

    
      	
              2.3.1

            	
              Amount of
      Benefit.  The annual benefit under this Section 2.3 is
      the Change of Control Annual Benefit set forth in Schedule A for the Plan
      Year ending immediately prior to the date of the Change in Control occurs,
      determined by vesting the Director in the projected Normal Retirement
      Benefit described in Section 2.1.1.

            

    

    

    
      	
              2.3.2

            	
              Payment of
      Benefit.  The Company shall pay the annual benefit amount
      to the Director in twelve (12) equal monthly installments commencing with
      the month following a Change of Control, payable to the Director for a
      period of ten (10) years.

            

    

     

    IN WITNESS OF THE ABOVE, the
Company and the Director hereby consent to this Second Amendment.

     

    

    Director:                                                                           MCINTOSH
STATE BANK

    

      /s/  John
L.
Carter                            
By /s/  William K.
Malone

    JOHN L.
CARTER                                   
          
          Title    Chief Executive
Officerexhibit10_24.htm

    SECOND
AMENDMENT

    TO
THE

     MCINTOSH
STATE BANK

    DIRECTOR
RETIREMENT AGREEMENT

    DATED
DECEMBER 19, 2002

    AND
AMENDED JANUARY 9, 2007

    FOR

     D.
KEITH FORTSON

    

    THIS SECOND AMENDMENT is adopted this
30th
day of November, 2008, by and between MCINTOSH STATE BANK, a state-chartered
commercial bank located in Jackson, Georgia (the “Company”), and KEITH D.
FORTSON (the “Director”).

    

    The Company and the Director executed
the DIRECTOR RETIREMENT AGREEMENT on December 19, 2002 effective as of January
1, 2003, and executed a First Amendment on January 9, 2007 (the
“Agreement”).

    

    The undersigned hereby amend the
Agreement for the purpose of bringing the Agreement into compliance with Section
409A of the Internal Revenue Code.  Therefore, the following changes
shall be made:

    

    Section 1.1 of the Agreement shall be
deleted in its entirety and replaced by the following:

    

    
      	
              1.1

            	
              “Change
      of Control” means a change in the ownership or effective control of
      the Company or any entity which is the majority shareholder of the
      Company, or in the ownership of a substantial portion of the assets of the
      Company or any entity which is the majority shareholder of the Company, as
      such change is defined in Section 409A of the Code and regulations
      thereunder.

            

    

    

    Sections 2.3, 2.3.1 and 2.3.2 of the
Agreement shall be deleted in their entirety and replaced by the
following:

    

    
      	
              2.3

            	
              Change of Control
      Benefit.  Upon a Change in Control, the Company shall pay
      to the Director the benefit described in this Section 2.3 in lieu of any
      other benefit under this Agreement.

            

    

    

    
      	
              2.3.1

            	
              Amount of
      Benefit.  The annual benefit under this Section 2.3 is
      the Change of Control Annual Benefit set forth in Schedule A for the Plan
      Year ending immediately prior to the date of the Change in Control occurs,
      determined by vesting the Director in the projected Normal Retirement
      Benefit described in Section 2.1.1.

            

    

    

    
      	
              2.3.2

            	
              Payment of
      Benefit.  The Company shall pay the annual benefit amount
      to the Director in twelve (12) equal monthly installments commencing with
      the month following a Change of Control, payable to the Director for a
      period of ten (10) years.

            

    

    

    

    IN WITNESS OF THE ABOVE, the
Company and the Director hereby consent to this Second Amendment.

     

    

    Director:                                                                           MCINTOSH
STATE BANK

    

    

      /s/  D.
Keith
Fortson                                                  
   By/s/  William K.
Malone

    D. KEITH
FORTSON                                                  
 Title    Chief Executive
Officerexhibit10_25.htm

     SECOND
AMENDMENT

    TO
THE

     MCINTOSH
STATE BANK

    DIRECTOR
RETIREMENT AGREEMENT

    DATED
DECEMBER 19, 2002

    AND
AMENDED JANUARY 9, 2007

    FOR

     WILLIAM
T. WEBB

    

    

    THIS SECOND AMENDMENT is adopted this
30th
day of November, 2008, by and between MCINTOSH STATE BANK, a state-chartered
commercial bank located in Jackson, Georgia (the “Company”), and WILLIAM T. WEBB
(the “Director”).

    

    The Company and the Director executed
the DIRECTOR RETIREMENT AGREEMENT on December 19, 2002 effective as of January
1, 2003, and executed a First Amendment on January 9, 2007 (the
“Agreement”).

    

    The undersigned hereby amend the
Agreement for the purpose of bringing the Agreement into compliance with Section
409A of the Internal Revenue Code.  Therefore, the following changes
shall be made:

    

    Section 1.1 of the Agreement shall be
deleted in its entirety and replaced by the following:

    

    
      	
              1.1

            	
              “Change
      of Control” means a change in the ownership or effective control of
      the Company or any entity which is the majority shareholder of the
      Company, or in the ownership of a substantial portion of the assets of the
      Company or any entity which is the majority shareholder of the Company, as
      such change is defined in Section 409A of the Code and regulations
      thereunder.

            

    

    

    Sections 2.3, 2.3.1 and 2.3.2 of the
Agreement shall be deleted in their entirety and replaced by the
following:

    

    
      	
              2.3

            	
              Change of Control
      Benefit.  Upon a Change in Control, the Company shall pay
      to the Director the benefit described in this Section 2.3 in lieu of any
      other benefit under this Agreement.

            

    

    

    
      	
              2.3.1

            	
              Amount of
      Benefit.  The annual benefit under this Section 2.3 is
      the Change of Control Annual Benefit set forth in Schedule A for the Plan
      Year ending immediately prior to the date of the Change in Control occurs,
      determined by vesting the Director in the projected Normal Retirement
      Benefit described in Section 2.1.1.

            

    

    

    
      	
              2.3.2

            	
              Payment of
      Benefit.  The Company shall pay the annual benefit amount
      to the Director in twelve (12) equal monthly installments commencing with
      the month following a Change of Control, payable to the Director for a
      period of ten (10) years.

            

    

    

    

    IN WITNESS OF THE ABOVE, the
Company and the Director hereby consent to this Second Amendment.

    

    Director:                                                                           MCINTOSH
STATE BANK

    

    

      /s/  William
T.
Webb                                                   
By /s/  William K.
Malone

    WILLIAM
T.
WEBB                                                  
  Title   Chief Executive
Officer

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