Document:

Form of Rights Certificate

 Exhibit 4.1 
  

 
  
 Exhibit 4.1 
 THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the
number of Rights set forth above, each of which entitles the owner to subscribe for and purchase 0.28121 shares of common stock, $1.00 par value per share, of Security Bank Corporation, a Georgia corporation, on the terms and subject to the
conditions set forth in the Prospectus and instructions relating hereto on the reverse side hereof and in the instructions as to the use of this certificate included in this mailing. The non-transferable Rights represented by this Subscription
Certificate may be exercised by duly completing Section 1 on the reverse side hereof and by returning the full payment of the subscription price for each share of common stock as described on the reverse side hereof. Special delivery instructions
may be specified by completing Section 2 on the reverse side hereof. THE RIGHTS EVIDENCED BY THIS SUBSCRIPTION CERTIFICATE ARE NOT TRANSFERABLE AND MAY NOT BE EXERCISED UNLESS THE REVERSE SIDE HEREOF IS COMPLETED AND SIGNED WITH A SIGNATURE
GUARANTEE, IF APPLICABLE. This certificate is governed by the law of the State of Georgia. COUNTERSIGNED AND REGISTERED: REGISTRAR AND TRANSFER COMPANY (Cranford, NJ) TRANSFER AGENT AND REGISTRAR BY AUTHORIZED SIGNATURE Corporate Secretary Chief
Executive Officer and President AMERICAN BANK NOTE COMPANY 711 ARMSTRONG LANE COLUMBIA, TENNESSEE 38401 (931) 388-3003 SALES: J. WEATHERLY 615-261-0610 7 / LIVE JOBS / S / Security 29344 FC PRODUCTION COORDINATOR: DENISE HOPKINS 931-490-1714 PROOF
OF: FEBRUARY 12, 2008 SECURITY BANK CORPORATION TSB 29344 FC OPERATOR: AP Rev. 2 COLORS SELECTED FOR PRINTING: Intaglio prints in SC-3 dark green. COLOR: This proof was printed from a digital file or artwork on a graphics quality, color laser
printer. It is a good representation of the color as it will appear on the final product. However, it is not an exact color rendition, and the final printed product may appear slightly different from the proof due to the difference between the dyes
and printing ink. PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE CHANGES AND SEND ANOTHER PROOF THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS SUPPLEMENT DATED,
FEBRUARY 12, 2008 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM REGISTRAR AND TRANSFER COMPANY AS THE SUBSCRIPTION AGENT. SECURITY BANK CORPORATION Incorporated under
the laws of the State of Georgia SUBSCRIPTION CERTIFICATE Evidencing Non-Transferable Rights to Purchase Shares of Common Stock Subscription Price: $6.58 per Full Share VOID IF NOT EXERCISED ON OR BEFORE THE EXPIRATION TIME (AS DEFINED IN THE
PROSPECTUS) REGISTERED OWNER: Dated: 

 

 
  
 PLEASE INITIAL THE
APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE CHANGES AND SEND ANOTHER PROOF SECTION 1 IF YOU WISH TO SUBSCRIBE FOR YOUR FULL SUBSCRIPTION PRIVILEGE OR A PORTION THEREOF: Basic Subscription Privilege I exercise rights x 0.28121
- (no. of your rights) (ratio) (total no. of your new shares) Therefore, I apply for x $ 6.58 = $ (no. of new shares) (subscription price) (amount enclosed) Over-Subscription Privilege If you fully exercise your Basic Subscription Privilege and wish
to subscribe for additional shares up to the total number of unsubscribed shares multiplied by your ownership percentage of our outstanding Common Stock at the record date you may exercise your Over-Subscription Privilege. Accordingly, my maximum
Over-Subscription Privilege is: STEP 1: Determine the maximum number of unsubscribed shares: 5,017,162 - = shares STEP 2: Determine your maximum Over-Subscription Privilege x ( / 18,915,078) = shares Therefore, I apply for: x $6.58 = $ Check or bank
draft drawn on a U.S. bank, or postal telegraphic or express money order payable to Registrar and Transfer Company, as Subscription Agent. Wire transfer directly to the escrow account maintained by Registrar and Transfer Company, as Subscription
Agent. TO SUBSCRIBE: I acknowledge that I have received the prospectus for this offer and I hereby irrevocably subscribe for the number of shares indicated above on the terms and conditions specified in the prospectus. I hereby agree that if I fail
to pay for the shares of Common Stock for which I have subscribed, Security Bank Corporation may exercise its legal remedies against me. Signature(s) of Subscriber(s) IMPORTANT: THE SIGNATURE(S) MUST CORRESPOND IN EVERY PARTICULAR, WITHOUT
ALTERATION, WITH THE NAME(S) AS PRINTED ON THE REVERSE OF THIS SUBSCRIPTION CERTIFICATE. If signature is by trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-infact, agent(s), officer(s) of a corporation or another acting in a
fiduciary or representative capacity, please provide the following information (please print). See the instructions. Name(s): Capacity (Full Title): Taxpayer ID # or Social Security # SECTION 2 SPECIAL ISSUANCE OR DELIVERY INSTRUCTIONS FOR
SUBSCRIPTION RIGHTS HOLDERS: (a) To be completed ONLY if the certificate representing the Common Stock is to be issued in a name other than that of the registered holder. (See the Instructions.) DO NOT FORGET TO COMPLETE THE GUARANTEE OF
SIGNATURE(S) SECTION BELOW. ISSUE COMMON STOCK TO: (Please Print Name) (Print Full Address) (Social Security # or Tax ID #) (b) To be completed ONLY if the certificate representing the Common Stock is to be sent to an address other than that shown
on the front of this certificate. (See the Instructions.) DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW. (Please Print Name) (Print Full Address) (Social Security # or Tax ID #) GUARANTEE OF SIGNATURE(S) YOU MUST HAVE YOUR
SIGNATURE GUARANTEED IF YOU WISH TO HAVE YOUR SHARES DELIVERED TO AN ADDRESS OTHER THAN YOUR OWN OR TO A SHAREHOLDER OTHER THAN THE REGISTERED HOLDER. Your signature must be guaranteed by an Eligible Guarantor Institution, as defined in Rule 17Ad-15
of the Securities Exchange Act of 1934, as amended. These generally include (a) a commercial bank or trust company, (b) a member firm of a domestic stock exchange, or (c) a credit union. Signature: (Name of Bank or Firm) By: (Signature of Officer)
DELIVERY OPTIONS FOR SUBSCRIPTION CERTIFICATE Delivery to an address other than the address listed above will not constitute valid delivery. Delivery by facsimile will not constitute valid delivery. PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.
By Mail: Registrar and Transfer Company P.O. Box 645, Cranford, NJ 07016-0645 Attn: Reorg/Exchange Department By Hand or Overnight Courier: Registrar and Transfer Company 11 Commerce Drive, Cranford, NJ 07016 Attn: Reorg/Exchange Department AMERICAN
BANK NOTE COMPANY 711 ARMSTRONG LANE COLUMBIA, TENNESSEE 38401 (931) 388-3003 SALES: J. WEATHERLY 615-261-0610 7 / LIVE JOBS / S / Security 29344 BK PRODUCTION COORDINATOR: DENISE HOPKINS 931-490-1714 PROOF OF: FEBRUARY 12, 2008 SECURITY BANK
CORPORATION TSB 29344 BK OPERATOR: AP REV. 3 (total outstanding shares less new shares of standby purchasers) (maximum unsubscribed shares) (no. of your over-subscription shares subscribed for) (subscription price) (additional amount enclosed)
(total no. of rights listed on the front of certificate) (total outstanding shares) (maximum oversubscription shares) (total no. of your new shares) (maximum unsubscribed shares) FULL PAYMENT FOR THE SHARES MUST ACCOMPANY THIS FORM AND MUST BE MADE
IN UNITED STATES DOLLARS BY (I) CHECK OR BANK DRAFT DRAWN UPON A UNITED STATES BANK OR POSTAL, TELEGRAPHIC OR EXPRESS MONEY ORDER PAYABLE TO REGISTRAR AND TRANSFER COMPANY.Subscription Agent Agreement

 Exhibit 4.2 
 SUBSCRIPTION AGENT AGREEMENT 
 February 11, 2008 
 Registrar and Transfer Company 
 10 Commerce Drive 
 Cranford, New Jersey 07016 
 Ladies and Gentlemen: 
 In connection with your appointment as Subscription Agent in the transaction described herein, Security Bank Corporation (the
“Company”), hereby confirms its arrangements with you as follows: 
 1. Rights Offering. 
 The Company is distributing, at no charge, to the record holders of shares of its common stock, par value $1.00 per share (“Common
Stock”), as of 5:00 p.m., local time, on February 11, 2008 (the “Record Date”), non-transferable subscription rights (the “Rights”) to subscribe for and purchase shares of Common
Stock (the “Rights Offering”). Each record holder is entitled to receive one Right for each share of Common Stock held by such record holder at the Record Date. Each Right entitles the holder thereof to subscribe for 0.281212
shares of Common Stock (the “Basic Subscription Privilege”) at a subscription price of $6.58 per full share of Common Stock (the “Subscription Price”). Each holder of Rights who exercises in full its
Basic Subscription Privilege will be entitled, subject to certain limitations and subject to allotment, to subscribe for additional shares of Common Stock up to 100% of such holder’s pro rata share of the Unsubscribed Shares (as defined below)
at the Subscription Price pursuant to the Basic Subscription Privilege (the “Over-Subscription Privilege”). To the extent that sufficient Unsubscribed Shares are not available to honor all Over-Subscription Privilege
requests, the Unsubscribed Shares will be allocated as described in the Prospectus (as defined herein). Except as set forth below, Rights shall cease to be exercisable at 5:00 p.m., local time, on March 10, 2008, unless the Company extends the
period for exercising Rights for a period not to exceed 15 days (as it may be extended, the “Expiration Time”). The Company shall notify you orally and confirms in writing an extension of the Expiration Time. Rights are
evidenced by non-transferable rights certificates in registered form (“Rights Certificates”). The Rights Offering will be conducted in the manner and upon the terms and conditions set forth in the Company’s final
Prospectus Supplement, dated as of February 12, 2008 (the “Prospectus”), which is incorporated herein by reference and made a part hereof as if set forth in full herein. 
 2. Appointment of Subscription Agent. 
 You are
hereby appointed as Subscription Agent to effect the Rights Offering in accordance with the Prospectus. Each reference to you in this letter is to you in your capacity as Subscription Agent unless the context indicates otherwise. 
 3. Delivery of Documents. 
 Enclosed herewith
are the following, the receipt of which you acknowledge by your execution hereof: 
 (a) a copy of the Prospectus, attached hereto as Annex
A; 
 (b) the form of Rights Certificate (with instructions), attached hereto as Annex B; 
 (c) Form of Instructions for Use of Security Bank Corporation Subscription Rights, attached hereto as Annex C; 
 (d) Form of Notice of Guaranteed Delivery, attached hereto as Annex D; 
 (e) Form of Letter to Shareholders that are Record Holders, attached hereto as Annex E; 
  

 (f) Form of Letter to Shareholders who are Beneficial Holders, attached hereto as Annex F;

 (g) Form of Letter to Clients of Shareholders who are Beneficial Holders, attached hereto as Annex G; 
 (h) Form of Nominee Holder Certification Form, attached hereto as Annex H; 
 (i) Form of Beneficial Owner Election Form, attached hereto as Annex I; and 
 (j) Substitute Form W-9 for use with the Rights Offering, attached hereto as Annex J (documents (c) through (j), the “Subscription
Documents”). 
 As soon as is reasonably practical, you shall mail or cause to be mailed to each holder of Common Stock whose
address of record is within the United States at the Record Date: (i) a Prospectus, (ii) a Rights Certificate evidencing the Rights to which such holder is entitled, (iii) the Subscription Documents and (iv) a return envelope
addressed to you. Prior to your mailing of the documents, the Company will provide you with blank Rights Certificates which you will prepare and issue in the names of holders of Common Stock of record at the close of business on the Record Date and
for the number of Rights to which they are entitled. The Company will also provide you with a sufficient number of copies of each of the documents to be mailed with the Rights Certificates. 
 You shall refrain from mailing the Prospectus, Rights Certificates and Subscription Documents to any record holder of Common Stock on the Record Date
whose address of record is outside the United States or is an A.P.O. or F.P.O. address, and shall hold such Rights Certificates for the account of such shareholder subject to such shareholder making arrangements with the Subscription Agent
satisfactory to you and to the Company for the exercise thereby, and following the instructions of the shareholder for the exercise of such Rights if such instructions are confirmed by counsel to the Company and are received at or before
11:00 a.m., local time, on March 10, 2008. 
 4. Subscription Procedure. 
 (a) Upon your receipt prior to the Expiration Time (by mail or delivery), as Subscription Agent, of (i) any Rights Certificate completed and endorsed
for exercise, as provided on the reverse side of the Rights Certificate (except as provided below) or Nominee Holder Certification from The Depository Trust Company or other nominee of the subscriber and (ii) payment in full of the Subscription
Price in U.S. funds by check, bank draft, money order payable at par (without deduction for bank service charges or otherwise) or wire transfer of immediately available funds to the order of Registrar and Transfer Company, you shall, as soon as
practicable after the Expiration Time, mail to the subscriber’s registered address on the books of the Company or to the subscriber’s nominee, as applicable, certificates representing the shares of Common Stock duly subscribed for and
furnish a list of all such information to the Company. 
 (b) As soon as reasonably practical following the Expiration Time, you shall
calculate the number of shares of Common Stock to which each subscriber is entitled pursuant to such subscriber’s Over-Subscription Privilege. The Over-Subscription Privilege may only be exercised by holders who fully exercise their Basic
Subscription Privilege. The maximum amount of shares of Common Stock available pursuant to the Over-Subscription Privilege shall equal the number of shares of Common Stock that have not been subscribed and paid for pursuant to the Over-Subscription
Privilege (the “Unsubscribed Shares”), it being understood that Jonathan W. Been and Benjamin W. Griffith, III are required to exercise their Basic Subscription Privilege pursuant to Standby Purchase Agreements entered into
with the Company. If there are sufficient Unsubscribed Shares at the Expiration Time to satisfy all subscriptions of record holders exercising their Rights under the Over-Subscription Privilege, each holder shall be allotted the number of
Unsubscribed Shares, at the Subscription Price, having a value equal to the amount subscribed for. If there is an insufficient number of Unsubscribed Shares at the Expiration Time after record holders have exercised Rights under their Basic
Subscription Privilege to satisfy all subscriptions of record holders 

  

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exercising their Rights under the Over-Subscription Privilege, you will allocate the Unsubscribed Shares among the record holders who exercised their
Over-Subscription Privilege as follows: 
 (i) To the extent the aggregate Subscription Price of the maximum number of shares of Common Stock
available to a record holder pursuant to its Over-Subscription Privilege is less than the amount that such record holder actually paid in connection with the exercise of its Over-Subscription Privilege, such record holder will be allocated a number
of Unsubscribed Shares equal to the product of (A) the total number of Unsubscribed Shares, multiplied by (B) a fraction, the dominator of which is (x) the number of Rights distributed to such record holder and the denominator
of which is (y) 18,915,078. 
 (ii) To the extent the amount that a record holder actually paid in connection with the exercise of its
Over-Subscription Privilege is less than the aggregate Subscription Price of the maximum number of shares of Common Stock available to such record holder pursuant to its Over-Subscription Privilege, such record holder will be allocated the full
number of Unsubscribed Shares for which the subscriber paid. 
 Any fractional shares of Common Stock to which persons exercising their
Over-Subscription Privilege would otherwise be entitled pursuant to such allocation shall be rounded down to the next whole share of Common Stock. 
 (c) Upon calculating the number of shares of Common Stock to which each subscriber is entitled pursuant to the Over-Subscription Privilege and the amount overpaid, if any, by each subscriber, you shall, as soon as practicable, furnish a
list of all such information to the Company. 
 (d) Upon calculating the number of Unsubscribed Shares to which each subscriber is entitled
pursuant to the Over-Subscription Privilege and assuming payment for the Unsubscribed Shares subscribed for has been delivered, you shall mail, as contemplated in subparagraph (a) above, the certificates representing the Unsubscribed Shares
allotted to such subscriber. If a lesser number of Unsubscribed Shares is allotted to a subscriber under the Over-Subscription Privilege than the subscriber has tendered payment for, you shall remit the difference to the subscriber without interest
or deduction at the same time as certificates representing the Unsubscribed Shares allotted pursuant to the Over-Subscription Privilege are mailed. 
 (e) Funds received by you pursuant to the Rights Offering shall be held by you in a segregated account. Upon mailing of certificates representing the shares of Common Stock subscribed, or upon the earlier request of the Company following
the Expiration Time, you shall promptly remit to the Company all funds received in payment of the Subscription Price for shares sold in the Rights Offering. 
 5. Defective Exercise of Rights; Lost Rights Certificates. 
 The Company shall have the absolute right to reject any
defective exercise of Rights or to waive any defect in exercise. Unless requested to do so by the Company, you shall not be under any duty to give notification to holders of Rights Certificates of any defects or irregularities in subscriptions.
Subscriptions will not be deemed to have been made until any such defects or irregularities have been cured or waived within such time as the Company shall determine. You shall as soon as practicable return Rights Certificates with the defects or
irregularities which have not been cured or waived, to the holder of the Rights. If any Rights Certificate is alleged to have been lost, stolen or destroyed, you should follow the same procedures followed for lost stock certificates representing
Common Stock you use in your capacity as transfer agent for the Common Stock. 
 6. Late Delivery. 
 If, prior to the Expiration Time you receive (i) payment in full of the Subscription Price for the shares of Common Stock being subscribed for and
(ii) a guarantee notice substantially in the form of the Notice of Guaranteed Delivery delivered with the Rights Certificate, from a financial institution having an 

  

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office or correspondent in the United States, or a member firm of any registered United States national securities exchange or of the Financial Industry
Regulatory Authority, Inc. stating the certificate number of the Rights Certificate relating to the Rights, the name and address of the exercising subscriber, the number of Rights represented by the Rights Certificate held by such exercising
subscriber, the number of shares of Common Stock being subscribed for pursuant to the Rights and guaranteeing the delivery to you of the Rights Certificate evidencing such Rights within three Nasdaq Global Select Market trading days following the
date of the Notice of Guaranteed Delivery, then the Rights may be exercised even though the Rights Certificate was not delivered to you prior to the Expiration Time, provided that within three Nasdaq Global Select Market trading days
following the date of the Notice of Guaranteed Delivery you receive the properly completed Rights Certificate evidencing the Rights being exercised, with signatures guaranteed if required. 
 7. Delivery. 
 You shall deliver to the Company
the exercised Rights Certificates in accordance with written directions received from the Company and you shall deliver to the subscribers who have duly exercised Rights, to their registered addresses, certificates representing the securities
subscribed for as instructed on the reverse side of the Rights Certificates. 
 8. Reports. 
 You shall notify the Company by telephone on or before the close of business on each business day during the period commencing on the first Friday after
the mailing of the Rights and ending at the Expiration Time (and in the case of guaranteed deliveries ending three Nasdaq Global Select Market trading days after the Expiration Time, for the three days after the Expiration Time) (a “Daily
Notice”), which notice shall thereafter be confirmed in writing, of (a) the number of Rights exercised on the day covered by such daily notice, (b) the number of Rights subject to guaranteed exercises on the day covered by
such daily notice, (c) the number of Rights for which defective exercises have been received on the day covered by such daily notice, and (d) the cumulative total of the information set forth in clauses (a) through (d) above. At
or before 5:00 p.m., local time, on the first Nasdaq Global Select Market trading day following the Expiration Time you shall certify in writing to the Company the cumulative total through the Expiration Time of all the information set forth in
clauses (a) through (c) above. At or before 10:00 a.m., local time, on the eighth Nasdaq Global Select Market trading day following the Expiration Time you will execute and deliver to the Company a certificate setting forth the number
of Rights exercised pursuant to a Notice of Guaranteed Delivery and as to which Rights Certificates have been timely received. You shall also maintain and update a listing of holders who have fully or partially exercised their Rights, and holders
who have not exercised their Rights. You shall provide the Company or its designees with such information compiled by you pursuant to this paragraph 8 upon any request by the Company or its designees. 
 9. Future Instructions. 
 With respect to
notices or instructions to be provided by the Company hereunder, you may rely and act on any written instruction signed by any one or more of the following authorized officers or employees of the Company: 
 James R. McLemore — Executive Vice President and Chief Financial Officer 
 Lorraine D. Miller — Senior Vice President-Investor Relations 
 10. Payment of Expenses. 
 The Company will pay you compensation for acting in your capacity as Subscription Agent
hereunder as provided in the attached Fee Schedule. 
 11. Counsel. 
  

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 You may consult with counsel satisfactory to you, who also may be counsel to the Company, and the advice
or opinion of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by you hereunder in good faith and in accordance with such advice or opinion of such counsel. Except as provided
in paragraph 12 hereof, the Company shall only be responsible for the payment of fees for Alston & Bird LLP, as the Company’s counsel. 
 12. Indemnification. 
 The Company covenants and agrees to indemnify and hold you harmless against any costs, expenses
(including reasonable documented fees of legal counsel), losses or damages, which may be paid, incurred or suffered by or to which you may become subject to, or arising from or out of, any claim or liability resulting from your actions as
Subscription Agent pursuant hereto; provided that such covenant and agreement does not extend to such costs, expenses, losses and damages incurred or suffered by you as a result of, or arising out of, your own gross negligence, misconduct or
bad faith or that of any affiliates or directors, officers, employees, attorneys and agents used by you in connection with the performance of your duties as Subscription Agent pursuant hereto. 
 13. Notices. 
 Unless otherwise provided
herein, all reports, notices and other communications required or permitted to be given hereunder shall be in writing and delivered by hand or confirmed telecopy or by first class U.S. mail, postage prepaid, and shall be deemed received upon receipt
if delivered by hand or telecopy, or three business days after deposit in the U.S. mail if delivered by U.S. mail and shall be addressed as follows: 
  

	 	(a)	If to the Company, to: 

 Security Bank Corporation

 4219 Forsyth Road 
 Macon, GA
31210 
 Attention: James R. McLemore, Executive Vice President and Chief Financial Officer 
 Telephone: (478) 722-6200 
 Telecopy:
(478) 722-6250 
  

	 	(b)	If to you, to: 

 Registrar and Transfer Company 

10 Commerce Drive 
 Cranford, NJ 07016

 Attention: Dan Flynn 
 Telephone: 908-497-2300 x2554 
 Telecopy: 908-497-2311 
 14. Miscellaneous. 
 (a) If any provision of this Agreement shall be held illegal, invalid, or
unenforceable by any court, this Agreement shall be construed and enforced as if such provision had not been contained herein and shall be deemed an Agreement among us to the full extent permitted by applicable law. 
 (b) In the event that any claim of inconsistency between this Agreement and the terms of the Rights Offering arise, as they may from time to time be
amended, the terms of the Rights Offering shall control, except with respect to the duties, liabilities and rights, including compensation and indemnification of you as Subscription Agent, which shall be controlled by the terms of this Agreement.

 (c) This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without giving effect to
conflict of laws rules or principles, and shall inure to the benefit 

  

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of and be binding upon the successors and assigns of the parties hereto; provided that this Agreement may not be assigned by any party without the
prior written consent of all other parties. 
 (d) No provision of this Agreement may be amended, modified or waived, except in a written
document signed by both parties. 
 (e) This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 
 [Signatures on Following Page] 
  

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 Please acknowledge receipt of this letter and confirm your agreement concerning your appointment as
Subscription Agent, and the arrangements herein provided, by signing and returning the enclosed copy hereof, whereupon this Agreement and your acceptance of the terms and conditions herein provided shall constitute a binding Agreement between us.

  

			
	Yours truly,
	
	SECURITY BANK CORPORATION
		
	By:	 	 /s/ Lorraine D. Miller

	Name:	 	Lorraine D. Miller
	Title:	 	Senior Vice President-Investor Relations

  

			
	Agreed and Accepted:
	
	REGISTRAR AND TRANSFER COMPANY
		
	By:	 	 /s/ William P. Tatler

	Name:	 	 William P. Tatler

	Title:	 	 Vice President

  

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 Fee Schedule  
  

					
	ADMINISTRATION AND SET UP	  	$5,000

 Includes initial coordination, file conversion, system set up, review of documentation, production
of rights certificates, preparation and mailing, street/DTC notification, handling shareholder inquiries, etc. 
  

					
	RIGHTS CERTIFICATE EXERCISE *	  	$14 per item

 Includes documentation examination, acceptance, verification of exercise purchase proceeds,
tracking check clearance, calculation of exercise results at expiration, processing and posting of share issuances, production of stock certificates, preparation and mailing, etc. 
  

					
	DEFICIENT ITEMS *	  	$22 per item

 Includes coordination with Security Bank Corporation and rejection back to presenter. 

OVER-SUBSCRIPTION EXERCISE * 
  

					
	With no over-subscription of the over-subscription	  	$17 per item

 Includes documentation examination, acceptance, verification of calculations (% ownership, exercise
proceeds, exercise fully subscribed, tracking check clearance (if separate check is presented), calculation of over-subscription results at expiration, processing and posting of share issuances, production of stock certificates, preparation and
mailing, etc. 
  

					
	With over-subscription of the over-subscription	  	$27 per item

 Includes all of the above and segregation of less than full over-subscriptions from full
over-subscriptions, calculation of pro-ration for full over-subscriptions, processing and posting of share issuances, production of stock certificates, calculation and production of refund checks, preparation and mailing, etc. 
  
  

	*	An item means each exercise of subscription rights by each shareholder, except each presentation for the exercise of subscription rights through book-entry with DTC will be deemed
one item. 

  

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