Document:

Exhibit 10.2

                        Mortgage Assistance Corporation
        2614 Main Street o Dallas Tx 75226 o 214-670-0005 o 214-670-0001
                     www.mac-tx.com Trading Symbol: MTGC.OB

                               Servicing Contract

Member:
Member's Address:
Servicer:                   Mortgage Assistance Corporation
Servicer Address:          2614 Main Street, Dallas, TX  75226
Notes and/or REOs:         Attachment A

This servicing agreement was made and entered into this _____ day of __________,
2006, between SERVICER and MEMBER.

MEMBER shall initial below where appropriate.

Section 1. Servicing of Notes
-----------------------------

Note Servicing:  MEMBER hereby authorizes and instructs  SERVICER,  and SERVICER
agrees to service the "NOTES" and in that connection, to do the following:

A.   To receive any and all payments due MEMBER on the NOTES, which includes but
     is not limited to all monthly  payments,  all late payments and all payoffs
     in full or in part. SERVICER is authorized to direct any payment to be made
     payable to SERVICER's Trust Account;

B.   To endorse to SERVICER's  Trust Account any checks or money orders  payable
     to MEMBER and to immediately deposit same in SERVICER's Trust Account which
     is to be  maintained  in  accordance  with such  laws and rules  applicable
     thereto and as to which SERVICER will not commingle its assets;

C.   To transmit  MEMBER's portion of such payments of principal and interest as
     required by laws,  rules and regulations  which are applicable.  There is a
     seven  day hold on all  checks to allow for  clearing  with the bank.  Good
     funds are  delivered to MEMBER  without a hold at the address shown herein.
     SERVICER will not use such payment for any other transaction other than the
     transaction for which the funds are received;

D.   To provide  periodic  reporting  on the  MEMBER's  NOTES that  SERVICER  is
     servicing per this contract.

E.   If the  source  of  payment  is not the  maker of the  NOTES,  to so inform
     MEMBER;

<PAGE>

F.   To cause  SERVICER's  Trust  Account  utilized for this  transaction  to be
     inspected as required by such laws, rules and regulations as are applicable
     thereto;

G.   To take any other action which  SERVICER  deems  necessary or convenient to
     the  collection  and  servicing of the NOTES  including  but not limited to
     instituting  foreclosure proceedings in the event of default or making such
     payments for MEMBER's account or taking such other action as SERVICER deems
     necessary or desirable to protect the security of the Security Agreement or
     the priority thereof;

H.   To  execute  and  deliver  on  MEMBER's  behalf  and in  MEMBER's  name any
     documents  necessary or convenient for the exercise of any rights or duties
     which MEMBER may have under the NOTES, including but not limited to Request
     for Reconveyance, Payoff Demands, Beneficiary Statements,  Declarations and
     Notices of Default,  bidding  authorizations  and other instructions to the
     Trustee of the NOTES;

I.   To receive Notices of Default of prior encumbrances and to promptly notifiy
     MEMBER of any default upon the Notes and any prior encumbrances;

J.   To grant such extensions or loan modifications as SERVICER deems reasonably
     appropriate;

K.   MEMBER  may  terminate  SERVICER's  authority  hereunder  only with 30 days
     written notice and upon repayment and/or payment of the following:

     1.   Any outstanding payments made by SERVICER on MEMBER's behalf;
     2.   Any accrued expenses incurred by SERVICER in connection with servicing
          the NOTES;

L.   THE  FOLLOWING  PROVISIONS  (1) & (2) APPLY  ONLY TO LOANS IN WHICH  MEMBER
     HOLDS AN UNDIVIDED FRACTIONAL INTEREST IN THE NOTES:

     1.   A default  upon any  interest in the NOTES shall  constitute a default
          upon all  interests.  A simple  majority  in  interest  of lenders may
          determine  and direct the actions to be taken on behalf of all lenders
          in the event of default or with respect to other matters requiring the
          direction or approval of lenders,  and such majority may designate the
          SERVICER to so act in their behalf.
     2.   SERVICER  shall furnish to MEMBER a list of names and addresses of all
          lenders  holding an interest  in the NOTES upon five (5) days  written
          notice.

M.   Fees will be according to the attached Fee Schedule.

Section 2 - Servicing of REOs
-----------------------------
I. REO Servicing:  MEMBER hereby authorizes and instructs SERVICER, and SERVICER
agrees to service the "REOs" and in that connection, to do the following:

A.   Authorize  SERVICER  to act on behalf of  MEMBER as  landlord  to the REOs,
     where applicable;

                                       2
<PAGE>

B.   Authorize  SERVICER to manage,  operate,  control,  rent and lease MEMBER'S
     REOs.

C.   Authorize SERVICER to contract for or undertake the making of all necessary
     repairs and the  performance of all other necessary work for the benefit of
     the REOs  including  all required  alterations  to properly  carry out this
     agreement.  SERVICER agrees to secure prior written  approval of the MEMBER
     on expenditures in excess of $1,000 except  emergency  repairs in excess of
     the maximum if, in the opinion of SERVICER,  such repairs are  necessary to
     protect the property from damage, prevent damage to life or to the property
     of others;

D.   To collect any and all  payments  due  MEMBER,  which  includes  but is not
     limited to, all monthly RENT  payments and all LATE  payments.  SERVICER is
     authorized  to direct any payment to be made  payable to  SERVICER's  Trust
     Account. There is a seven day hold on all checks to allow for clearing with
     the bank.  Good funds are delivered to MEMBER without a hold at the address
     shown herein.  SERVICER will not use such payment for any other transaction
     other than the transaction for which the funds are received;

E.   Any  trust  account  SERVICER  maintains  under  this  agreement  may be an
     interest-bearing  or income  producing  account.  SERVICER  may  retain any
     interest or income from such account as compensation under this agreement.

F.   To hold security deposits from tenants in escrow or trust account until the
     end of tenancy.

G.   To endorse to SERVICER's  Trust Account any checks or money orders  payable
     to MEMBER and to immediately deposit same in SERVICER's Trust Account which
     is to be  maintained  in  accordance  with such  laws and rules  applicable
     thereto and as to which SERVICER will not commingle its assets;

H.   To  provide  periodic  reporting  on the  MEMBER's  REOs that  SERVICER  is
     servicing per this contract;

I.   To cause  SERVICER's  Trust  Account  utilized for this  transaction  to be
     inspected as required by such laws, rules and regulations as are applicable
     thereto;

J.   To take any other action which  SERVICER  deems  necessary or convenient to
     the  collection  and  servicing  of the REOs  including  but not limited to
     instituting  eviction proceedings in the event of default or selling of the
     REOs or making  such  payments  for  MEMBER's  account or taking such other
     action as SERVICER  deems  necessary  or  desirable to protect the MEMBER's
     interest in the  property.  To advertise  the  property  and display  signs
     thereon;  to rent and lease the property;  to sign, renew and cancel rental
     agreements  and  leases for the  property  or any part  thereof;  to sue or
     recover for rent and for loss or damage to any part of the property  and/or
     furnishings thereof; and, when expedient, to compromise, settle and release
     any such legal proceedings or lawsuits;

                                       3
<PAGE>

K.   To  execute  and  deliver  on  MEMBER's  behalf  and in  MEMBER's  name any
     documents  necessary or convenient for the exercise of any rights or duties
     which  MEMBER  may  have  as to the  REOs,  including  but not  limited  to
     evictions,  listing the property for sale, selling the property, or renting
     the property;

L.   To pay all operating  expenses and such other  expenses as requested by the
     MEMBER from the rents  received.  This may include the payment of taxes and
     insurance;

M.   MEMBER  may  terminate  SERVICER's  authority  hereunder  only with 30 days
     written notice and upon repayment and/or payment of the following:

     1.   Any outstanding payments made by SERVICER on MEMBER's behalf;
     2.   Any accrued expenses incurred by SERVICER in connection with servicing
          the REOs;

N.   MEMBER  hereby  agrees to hold  SERVICER  harmless from any and all claims,
     charges,  debts, demand and lawsuits,  including attorney's fees related to
     SERVICER's  management of MEMBER's  REOs, and from any liability for injury
     on or about the properties which may be suffered by an employee,  tenant or
     guest upon the properties.

O.   Fees will be according to the attached Fee Schedule.

Section 3 - General Provisions
------------------------------

MEMBER  represents that all of the persons  designated above are over the age of
18 and are competent.

         Make MEMBER Check Payable To:__________________________________________

         Address: ______________________________________________________________

         City, State, Zip Code: ________________________________________________

         Tax ID Number: ________________________________________________________

DEFAULT:  A party is in  default if the party  fails to cure a breach  within 10
days after receipt of written demand from the other party. If either party is in
default, the non-defaulting party may: (a) terminate this agreement by providing
at  least  10  days  written  notice;   (b)  recover  all  amounts  due  to  the
non-defaulting  party under this agreement;  (c) recover  reasonable  collection
costs and attorney's  fees; and (d) exercise any other remedy  available at law.
SERVICER is also entitled to recover any  compensation  SERVICER would have been
entitled to receive if Member did not breach this agreement.

MEDIATION:  The parties agree to negotiate in good faith in an effort to resolve
any dispute related to this agreement that may arise between the parties. If the
dispute  cannot be resolved by  negotiation,  the dispute  will be  submitted to
mediation. The parties to the dispute will choose a mutually acceptable mediator
and will share the cost of mediation equally.

                                       4
<PAGE>

ATTORNEY'S  FEES:  If  MEMBER or  SERVICER  is a  prevailing  party in any legal
proceeding  brought  as a  result  of a  dispute  under  this  agreement  or any
transaction  related to or contemplated  by this  agreement,  such party will be
entitled to recover from the  non-prevailing  party all costs of such proceeding
and reasonable attorney's fees.

SPECIAL  PROVISIONS:  This  Agreement  may be  amended  from time to time by the
parties  pursuant to a written  agreement or addendum signed by the SERVICER and
the MEMBER.

ENTIRE AGREEMENT: This document contains the entire agreement of the parties and
may not be changed except by written agreement.

ASSIGNMENTS: Neither party may assign this agreement without the written consent
of the other party.

BINDING  EFFECT:  MEMBER's  obligations  to SERVICER  under this  agreement  are
binding upon MEMBER and MEMBER's  heirs,  executors,  successors,  and permitted
assignees.

JOINT AND SEVERAL:  MEMBERS  executing  this agreement are jointly and severally
liable for the performance of all its terms.  Any act or notice to , refund to ,
or  signature  of,  any one or more of the  MEMBERS  regarding  any term of this
agreement or its termination is binding on all MEMBERS executing this agreement.

GOVERNING LAW: Texas law governs the interpretation,  validity, performance, and
enforcement of this agreement.

SEVERABILITY:  If a  court  finds  any  clause  in  this  agreement  invalid  or
unenforceable,  the  remainder  of this  agreement  will not be affected and all
other provisions of this agreement will remain valid and enforceable.

CONTEXT:  When the context  requires,  singular  nouns and pronouns  include the
plural.

NOTICES:  Notices  between the parties must be in writing and are effective when
sent to the receiving party's address as stated in this agreement.

MEMBER:
Signed: _________________________________                 Date _________________
Print Name: _____________________________
Title:  _________________________________

SERVICER: Mortgage Assistance Corporation
Signed: _________________________________                 Date _________________
Print Name: _____________________________
Title:  _________________________________

                                       5
<PAGE>

                                  Fee Schedule

1. Note Servicing: (for current notes)
$12.00 per note per month for standard servicing support that includes,  but not
limited  to item such as  monthly  mailings  of  statements  and  responding  to
borrower requests. In addition, Members will pay any directly related expenses.

1. Default Management Fee: (for non-performing and REO)
$188.00 per Note or REO per month for standard default  management  support such
as  collections,   skip  tracing,   coordinating  foreclosures,   responding  to
bankruptcy claims, and any overhead related to default management plus REO sales
coordination, forced insurance placements, property management and evictions. In
addition, all directly related fees or commissions, internal or outsourced, will
be charged to MEMBER's account

                                       6Exhibit 10.1 Plan of Merger and Merger Agreement

    
      

      

    

    Exhibit
      10.1

    

    

    

    

    PLAN
      OF MERGER AND MERGER AGREEMENT

     

     

    by
      and between

     

     

    TIB
      FINANCIAL CORP.

     

    and

     

     

    THE
      BANK OF VENICE

     

    and

     

    TBV
      INTERIM BANK 

    (In
      Organization)

     

    

     

     

    Dated
      as of

     

    November
      13, 2006

     

    

     

    

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TABLE
      OF CONTENTS

    
 

    
      
        	
              	
                Page

              
	
                 

                ARTICLE
                  1 TRANSACTIONS AND TERMS OF MERGER

                 

              	
                 

                2

                 

              
	
                1.1

              	
                Merger.

              	
                2

              
	
                1.2

              	
                Time
                  and Place of Closing.

              	
                2

              
	
                1.3

              	
                Effective
                  Time.

              	
                2

              
	
                1.4
                  

              	
                Execution
                  of Director Agreements

              	
                2

              
	
                1.5

              	
                Merger
                  of Banking Subsidiaries

              	
                2

              
	
                 

                ARTICLE
                  2 EFFECT OF MERGER

                 

              	
                 

                2

              
	
                2.1

              	
                Charter
                  Documents.

              	
                2

              
	
                2.2

              	
                Executive
                  Officers and Directors.

              	
                3

              
	
                2.3

              	
                Effect
                  of Merger.

              	
                3

              
	
                2.4

              	
                Business
                  of Surviving Bank.

              	
                3

              
	
                2.5

              	
                Principal
                  Office and Branches.

              	
                3

              
	
                2.6

              	
                Capital
                  of Surviving Bank.

              	
                3

              
	
                2.7

              	
                Addition
                  to TIB Board of Directors.

              	
                3

              
	
                 

                ARTICLE
                  3 CONVERSION OF CONSTITUENTS’ CAPITAL SHARES

                 

              	
                 

                3

              
	
                3.1

              	
                Manner
                  of Converting Shares.

              	
                4

              
	
                3.2

              	
                Anti-Dilution
                  Provisions.

              	
                6

              
	
                3.3

              	
                Shares
                  Held by BANK.

              	
                6

              
	
                3.4

              	
                Dissenting
                  Stockholders.

              	
                6

              
	
                3.5

              	
                Fractional
                  Shares.

              	
                7

              
	
                 

                ARTICLE
                  4 EXCHANGE OF SHARES

                 

              	
                 

                7

              
	
                4.1

              	
                Exchange
                  Procedures.

              	
                7

              
	
                4.2

              	
                Rights
                  of Former BANK Stockholders.

              	
                8

              
	
                4.3

              	
                Identity
                  of Recipient of TIB Common Stock.

              	
                8

              
	
                4.4

              	
                Lost
                  or Stolen Certificates.

              	
                8

              
	
                4.5

              	
                Laws
                  of Escheat.

              	
                9

              
	
                 

                ARTICLE
                  5 REPRESENTATIONS AND WARRANTIES OF BANK

                 

              	
                 

                9

              
	
                5.1

              	
                Corporate
                  Organization, Standing and Power.

              	
                9

              
	
                5.2

              	
                Authority;
                  No Breach By Agreement.

              	
                9

              
	
                5.3

              	
                Capital
                  Stock.

              	
                10

              
	
                5.4

              	
                BANK
                  Subsidiaries.

              	
                11

              
	
                5.5

              	
                Financial
                  Statements.

              	
                11

              
	
                5.6

              	
                Absence
                  of Undisclosed Liabilities.

              	
                12

              
	
                5.7

              	
                Absence
                  of Certain Changes or Events.

              	
                12

              
	
                5.8

              	
                Tax
                  Matters.

              	
                12

              
	
                5.9

              	
                Loan
                  Portfolio; Documentation and Reports.

              	
                13

              
	
                5.10

              	
                Assets;
                  Insurance.

              	
                15

              
	
                5.11

              	
                Environmental
                  Matters.

              	
                15

              
	
                5.12

              	
                Compliance
                  with Laws.

              	
                16

              
	
                5.13

              	
                Labor
                  Relations; Executive Officers

              	
                17

              
	
                5.14

              	
                Employee
                  Benefit Plans.

              	
                17

              
	
                5.15

              	
                Material
                  Contracts.

              	
                19

              
	
                5.16

              	
                Legal
                  Proceedings.

              	
                20

              
	
                5.17

              	
                Reports.

              	
                20

              
	
                5.18

              	
                Statements
                  True and Correct.

              	
                21

              
	
                5.19

              	
                Accounting,
                  Tax and Regulatory Matters.

              	
                21

              
	
                5.20

              	
                Offices.

              	
                21

              
	
                5.21

              	
                Data
                  Processing Systems.

              	
                22

              
	
                5.22

              	
                Intellectual
                  Property.

              	
                22

              
	
                5.23

              	
                Administration
                  of Trust Accounts.

              	
                22

              
	
                5.24

              	
                Advisory
                  Fees.

              	
                22

              
	
                5.25

              	
                Regulatory
                  Approvals.

              	
                22

              
	
                5.26

              	
                Opinion
                  of Counsel.

              	
                22

              
	
                5.27

              	
                Repurchase
                  Agreements; Derivatives Contracts.

              	
                22

              
	
                5.28

              	
                Anti-takeover
                  Provisions.

              	
                23

              
	
                5.29

              	
                Transactions
                  with Management.

              	
                23

              
	
                5.30

              	
                Deposits.

              	
                23

              
	
                5.31

              	
                Accounting
                  Controls.

              	
                23

              
	
                5.32

              	
                Deposit
                  Insurance.

              	
                24

              
	
                5.33

              	
                Registration
                  Obligations.

              	
                24

              
	
                5.34

              	
                Charter
                  Provisions

              	
                24

              
	
                 

                ARTICLE
                  6 REPRESENTATIONS AND WARRANTIES OF TIB

                 

              	
                 

                24

              
	
                6.1

              	
                Organization,
                  Standing and Power.

              	
                24

              
	
                6.2

              	
                Authority;
                  No Breach By Agreement.

              	
                24

              
	
                6.3

              	
                Capital
                  Stock.

              	
                25

              
	
                6.4

              	
                Reports
                  and Financial Statements.

              	
                25

              
	
                6.5

              	
                Absence
                  of Undisclosed Liabilities.

              	
                26

              
	
                6.6

              	
                Absence
                  of Certain Changes or Events.

              	
                26

              
	
                6.7

              	
                Compliance
                  with Laws.

              	
                26

              
	
                6.8

              	
                Legal
                  Proceedings.

              	
                27

              
	
                6.9

              	
                Statements
                  True and Correct.

              	
                27

              
	
                6.10

              	
                Tax
                  and Regulatory Matters.

              	
                27

              
	
                6.11

              	
                Regulatory
                  Approvals.

              	
                27

              
	
                6.12

              	
                Opinion
                  of Counsel.

              	
                28

              
	
                 

                ARTICLE
                  7 CONDUCT OF BUSINESS PENDING CONSUMMATION

                 

              	
                 

                28

              
	
                7.1

              	
                Covenants
                  of Both Parties.

              	
                28

              
	
                7.2

              	
                Covenants
                  of BANK.

              	
                29

              
	
                7.3

              	
                Covenants
                  of TIB.

              	
                32

              
	
                7.4

              	
                Adverse
                  Changes in Condition.

              	
                32

              
	
                7.5

              	
                Reports.

              	
                32

              
	
                7.6

              	
                Acquisition
                  Proposals.

              	
                32

              
	
                7.7

              	
                NASDAQ
                  Qualification.

              	
                33

              
	
                 

                ARTICLE
                  8 ADDITIONAL AGREEMENTS

                 

              	
                 

                34

              
	
                8.1

              	
                Regulatory
                  Matters.

              	
                34

              
	
                8.2

              	
                Access
                  to Information.

              	
                35

              
	
                8.3

              	
                Efforts
                  to Consummate.

              	
                36

              
	
                8.4

              	
                BANK
                  Stockholders’ Meeting.

              	
                36

              
	
                8.5

              	
                Certificate
                  of Objections.

              	
                37

              
	
                8.6

              	
                Publicity.

              	
                37

              
	
                8.7

              	
                Expenses.

              	
                37

              
	
                8.8

              	
                Failure
                  to Close.

              	
                38

              
	
                8.9

              	
                Fairness
                  Opinion.

              	
                38

              
	
                8.10

              	
                Tax
                  Treatment.

              	
                38

              
	
                8.11

              	
                Agreement
                  of Affiliates.

              	
                38

              
	
                8.12

              	
                Environmental
                  Audit; Title Policy; Survey.

              	
                39

              
	
                8.13

              	
                Compliance
                  Matters.

              	
                39

              
	
                8.14

              	
                Conforming
                  Accounting and Reserve Policies.

              	
                39

              
	
                8.15

              	
                Notice
                  of Deadlines.

              	
                39

              
	
                8.16

              	
                Fixed
                  Asset Inventory.

              	
                40

              
	
                8.17

              	
                Directors’
                  and Officers’ Indemnification.

              	
                40

              
	
                8.18

              	
                Employee
                  Matters.

              	
                41

              
	
                 

                ARTICLE
                  9 CONDITIONS PRECEDENT TO OBLIGATIONS TO CONSUMMATE

                 

              	
                 

                42

              
	
                9.1

              	
                Conditions
                  to Obligations of Each Party.

              	
                42

              
	
                9.2

              	
                Conditions
                  to Obligations of TIB and TIB-SUB.

              	
                43

              
	
                9.3

              	
                Conditions
                  to Obligations of BANK.

              	
                46

              
	
                 

                ARTICLE
                  10 TERMINATION

                 

              	 
	
                10.1

              	
                Termination.

              	
                47

              
	
                10.2

              	
                Effect
                  of Termination.

              	
                49

              
	
                10.3

              	
                Non-Survival
                  of Representations and Covenants.

              	
                50

              
	
                 

                ARTICLE
                  11 MISCELLANEOUS

                 

              	
                 

                50

              
	
                11.1

              	
                Definitions.

              	
                50

              
	
                11.2

              	
                Entire
                  Agreement.

              	
                59

              
	
                11.3

              	
                Amendments.

              	
                59

              
	
                11.4

              	
                Waivers.

              	
                59

              
	
                11.5

              	
                Assignment.

              	
                59

              
	
                11.6

              	
                Notices.

              	
                59

              
	
                11.7

              	
                Brokers
                  and Finders.

              	
                60

              
	
                11.8

              	
                Governing
                  Law.

              	
                60

              
	
                11.9

              	
                Counterparts.

              	
                61

              
	
                11.10

              	
                Captions.

              	
                61

              
	
                11.11

              	
                Enforcement
                  of Agreement.

              	
                61

              
	
                11.12

              	
                Severability.

              	
                61

              
	
                11.13

              	
                Construction
                  of Terms.

              	
                61

              
	
                11.14

              	
                Schedules.

              	
                61

              
	
                11.15

              	
                Exhibits
                  and Schedules.

              	
                62

              
	
                11.16

              	
                No
                  Third Party Beneficiaries.

              	
                62

              
	
                11.17

              	
                Alternative
                  Structure

              	
                62

              

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    PLAN
      OF MERGER AND MERGER AGREEMENT 

    

     

    THIS
      PLAN OF MERGER AND MERGER AGREEMENT
      (this
“Agreement”) is made and entered into as of November 13, 2006, by and between
The
      Bank of Venice
      (“BANK”), a Florida state chartered bank with its principal office located at
      240 Nokomis Avenue South, Venice, Florida, 34285-2321; TIB
      Financial Corp.
      (“TIB”),
      a corporation organized and existing under the laws of the State of Florida,
      with its principal office located at 599 9th Street North, Naples, Florida,
      34102-5624; and TBV
      Interim Bank
      (“TIB-SUB”), an interim banking corporation in organization under the laws of
      the State of Florida with its principal office to be located at 240 Nokomis
      Avenue South, Venice, Florida, 34285-2321.

     

    Preamble

     

    The
      Boards of Directors of TIB and BANK are of the opinion that the transactions
      described herein are in the best interests of the parties and their respective
      stockholders. This Agreement provides for the acquisition of BANK by TIB
      pursuant to the merger (the “Merger”) of TIB-SUB (a wholly-owned interim
      subsidiary of TIB) with and into BANK. TIB-SUB will be a new Florida banking
      corporation formed by TIB as soon as practicable after the execution of this
      Agreement solely for the purpose of facilitating the Merger. At the effective
      time of such Merger, the outstanding shares of the capital stock of BANK shall
      be converted into the right to receive shares of the common stock of TIB (except
      as provided herein). As a result, stockholders of BANK shall become stockholders
      of TIB, and the assets and operations of BANK and TIB-SUB shall be combined
      under the charter of BANK. The transactions described in this Agreement are
      subject to the approvals of the stockholders of BANK, the sole stockholder
      of
      TIB-SUB, the FDIC, the Federal Reserve Board, the Florida Office of Financial
      Regulation, and the satisfaction of certain other conditions described in this
      Agreement. It is the intention of the parties to this Agreement that, for
      federal income tax purposes, the Merger shall qualify as a “reorganization”
within the meaning of Section 368(a) of the Internal Revenue Code.

     

    After
      consideration of the mutual benefits and advantages of the Merger to their
      respective companies and to the stockholders of each, the Boards of Directors
      of
      TIB and BANK are of the opinion that the objectives of the Merger can best
      be
      realized through the continued operation of BANK as a separately chartered
      community bank conducting business substantially as such business was conducted
      prior to the Effective Time under the management and Board of Directors of
      BANK
      as constituted at the date of this Agreement, subject to such changes as are
      set
      forth in this Agreement. Accordingly, TIB and BANK hereby affirm their mutual
      intention that BANK will be operated as a separately chartered bank subsidiary
      of TIB following completion of the Merger, operating under the name “The Bank of
      Venice,” and not as a branch or operating division of TIB Bank.

     

    Certain
      terms used in this Agreement are defined in Section 11.1 of this
      Agreement.

     

    NOW,
      THEREFORE,
      in
      consideration of the above and the mutual warranties, representations, covenants
      and agreements set forth herein, the parties agree as follows:

     

     

    ARTICLE
      1  

    TRANSACTIONS
      AND TERMS OF MERGER

     

    1.1  Merger. 
      Subject
      to the terms and conditions of this Agreement, at the Effective Time, TIB-SUB
      shall be merged with and into BANK in accordance with the provisions of the
      FFIC. At the Effective Time, the separate corporate existence of TIB-SUB shall
      cease, and BANK shall be the surviving bank resulting from the Merger (the
      “Surviving Bank”) and shall continue to be governed by the laws of the State of
      Florida. The Merger will be consummated pursuant to the terms of this Agreement,
      which has been approved and adopted by the respective Boards of Directors of
      TIB
      and BANK. 

     

    1.2  Time
      and Place of Closing. 
      The
      place
      of Closing shall be at the offices of TIB, Naples, Florida, or such other place
      as may be mutually agreed upon by the Parties. The Closing will take place
      at
      9:00 A.M. Eastern Standard Time on such date and time as the Parties, acting
      through their chief executive officers may mutually agree. Subject to the terms
      and conditions hereof, unless otherwise mutually agreed upon in writing by
      the
      chief executive officers of each Party, the Closing shall occur on the last
      business day of the month in which the closing conditions set forth in
      Article 9 below have been satisfied (or waived pursuant to
      Section 11.4 of this Agreement); provided that the Closing shall not occur
      prior to February 28, 2007.

     

    1.3  Effective
      Time. 
      The
      Merger and other transactions provided for in this Agreement shall become
      effective on the date and at the time specified in a Certificate of Merger
      to be
      issued by the Director of the Florida Office of Financial Regulation (the
“Effective Time”), which Certificate of Merger, along with this Agreement, shall
      be delivered for filing to the Secretary of State of the State of Florida.
      Unless TIB and BANK otherwise mutually agree in writing, the Parties shall
      use
      their best efforts to cause the Effective Time to occur on the date of
      Closing.

     

    1.4  Execution
      of Director Agreements. 
      Immediately prior to the execution of this Agreement and as a condition hereto,
      each of the Directors of BANK has executed and delivered to TIB a Stockholders
      Agreement and a Non-competition Agreement Related to the Sale of
      Goodwill.

     

     

    ARTICLE
      2

    EFFECT
      OF MERGER

     

    2.1  Charter
      Documents. 
      The
      Articles of Incorporation of BANK in effect immediately prior to the Effective
      Time shall be the Articles of Incorporation of the Surviving Bank until amended
      in accordance with applicable law. The complete text of the Articles of
      Incorporation of the Surviving Bank is set forth at Exhibit
      A
      hereto,
      which Exhibit is incorporated by reference herein. The Bylaws of BANK in effect
      immediately prior to the Effective Time shall be the Bylaws of the Surviving
      Bank until amended in accordance with applicable law.

     

    2.2  Executive
      Officers and Directors. 
      The
      name
      and address of each Executive Officer and Director of the Surviving Bank is
      set
      forth on Exhibit B
      hereto.
      Directors of the Surviving Bank will be elected annually and shall serve until
      the next election of directors.

     

    2.3  Effect
      of Merger.
      The
      Merger shall have the effects specified in Section 658.45 of the FFIC. All
      assets of TIB-SUB, as they exist at the Effective Time, shall pass to and vest
      in the Surviving Bank without any conveyance or other transfer, and the
      Surviving Bank shall be considered the same business and corporate entity as
      each constituent financial institution with all the rights, powers, and duties
      of each constituent financial institution, and the Surviving Bank shall be
      responsible for all the liabilities of every kind and description of each of
      the
      financial institutions existing as of the Effective Time. 

     

    2.4  Business
      of Surviving Bank.
      The
      business of the Surviving Bank shall be that of a general commercial bank.
      The
      Surviving Bank shall not have trust powers as of the Effective Time. The name
      of
      the Surviving Bank shall be “The Bank of Venice.”

     

    2.5  Principal
      Office and Branches.
      The
      principal office of the Surviving Bank shall be located at 240 Nokomis Avenue
      South, Venice, Florida, 34285-2321. A list of the principal office and branches
      of each of TIB-SUB, BANK, and the Surviving Bank is attached hereto as
Exhibit C.

     

    2.6  Capital
      of Surviving Bank. 
      At
      the
      Effective Time, the Surviving Bank shall have authorized capital stock of
      2,000,000 shares of common stock, par value $5.00 per share, of which 885,414
      shall be issued and outstanding to TIB. The Surviving Bank shall have surplus
      and retained earnings equal to the capital accounts of TIB-SUB and BANK
      immediately prior to the Effective Time. All such amounts of surplus and
      retained earnings shall be adjusted for normal earnings and expenses and for
      any
      accounting adjustments relating to the Merger provided for herein.

     

    2.7  Addition
      to TIB Board of Directors. 
      At the Effective Time, David F. Voigt shall become a member of the Board of
      Directors of TIB and shall serve until the next election of directors for the
      class in which he is so appointed, and until his successor is duly elected
      and
      qualified. To the extent that Mr. Voigt is appointed to a class that expires
      at
      the TIB Annual Meeting of Shareholders to be held in 2007, then TIB shall
      re-nominate Mr. Voigt as a director of TIB thereafter for a term of at least
      one
      year following the 2007 Annual Meeting of TIB shareholders. At the Effective
      Time, Edward V. Lett shall become a member of the Board of Directors of BANK,
      and he shall serve until the next election of directors and until his successor
      is duly elected and qualified. 

     

     

    ARTICLE
      3 

    CONVERSION
      OF CONSTITUENTS’ CAPITAL SHARES

     

    3.1  Manner
      of Converting Shares. 
      Subject
      to the provisions of this Article 3, at the Effective Time, by virtue of the
      Merger and without any further action on the part of TIB, TIB-SUB, BANK or
      the
      holders of any shares thereof, the shares of the constituent corporations shall
      be converted as follows:

     

    (a)  Each
      share of TIB Common Stock issued and outstanding immediately prior to the
      Effective Time shall remain issued and outstanding from and after the Effective
      Time. The shares of TIB-SUB common stock outstanding at the Effective Time
      shall
      be converted into and exchanged for an aggregate of 885,414 shares of the
      Surviving Bank’s common stock, par value $5.00 per share, issued and outstanding
      to TIB.

     

    (b)  Each
      share of BANK Common Stock (excluding shares held by any BANK Company, other
      than in a fiduciary capacity or as a result of debts previously contracted,
      and
      excluding shares held by stockholders who perfect their dissenters’ rights of
      appraisal as provided in Section 3.4 of this Agreement) issued and outstanding
      at the Effective Time shall cease to be outstanding and shall be converted
      into
      and exchanged for the right to receive (i) that number of shares of TIB Common
      Stock determined by dividing $18.00 by the Average Quoted Price and rounding
      to
      the fourth decimal place (as such may be adjusted pursuant to Section 3.2 of
      this Agreement, the “Exchange Ratio”); provided that, subject to the election
      rights set forth in Section 3.1(c) below, each holder of BANK Common Stock
      shall
      have an opportunity to elect to receive cash consideration for up to 10% of
      such
      holder’s shares of BANK Common Stock in lieu of receiving TIB Common Stock for
      such shares, plus (ii) the Net Income Per Share Amount. Notwithstanding the
      foregoing, if the Average Quoted Price is equal to or less than $16.50, then
      the
      Exchange Ratio shall become fixed at 1.0909 shares of TIB Common Stock for
      each
      share of BANK Common Stock, and if the Average Quoted Price is equal to or
      greater than $18.50, then the Exchange Ratio shall become fixed at 0.9730 shares
      of TIB Common Stock for each share of BANK Common Stock. If the Average Quoted
      Price shall be greater than $20.00, then TIB may, and if the Average Quoted
      Price shall be less than $15.00, then BANK may, at any time during the period
      commencing on the Determination Date and ending at the close of business five
      (5) business days thereafter, terminate this Agreement pursuant to Section
      10.1(l) hereof.

     

    (c)  (1)     Notwithstanding
      the provisions of Section 3.1(b) above, each holder of BANK Common Stock shall
      be provided with an opportunity to elect to receive for the shares of BANK
      Common Stock owned by such holder (i) cash of $18.00 (as such may be adjusted
      pursuant to Section 3.2 of this Agreement) for up to 10% of the shares of BANK
      Common Stock owned by such holder, plus (ii) for the remaining shares of BANK
      Common Stock owned by such holder, an amount of shares of TIB Common Stock
      determined in accordance with Section 3.1(b) above, plus (iii) the Net Income
      Per Share Amount for the shares of BANK Common Stock owned by such holder.
      

     

            (2)    The
      Exchange Agent shall mail an election form in such form as TIB and BANK shall
      mutually agree (the “Election Form”) with or following the issuance of the Proxy
      Statement/Prospectus and at least 20 days prior to the date of the BANK
      Stockholders’ Meeting or on such other date as TIB and BANK shall mutually agree
      (the “Mailing Date”) to each holder of record of BANK Common Stock for such BANK
      Stockholders’ Meeting. Each Election Form shall permit a holder (or the
      beneficial owner through appropriate and customary documentation and
      instructions) of BANK Common Stock to elect to receive (i) shares of TIB Common
      Stock for all shares of BANK Common Stock owned by such holder, plus the Net
      Income Per Share Amount or (ii) a cash payment of $18.00 (as such amount may
      be
      adjusted pursuant to Section 3.2 of this Agreement) for up to 10% of the shares
      of BANK Common Stock owned by such holder, plus shares of TIB Common Stock
      for
      the remaining shares of BANK Common Stock owned by such holder, plus the Net
      Income Per Share Amount.

     

           (3)     Any
      shares of BANK Common Stock with respect to which the holder shall not have
      submitted to the Exchange Agent an effective, properly completed Election Form
      prior to 5:00 p.m. Eastern Time on the day before the BANK Stockholders’ Meeting
      (or such other time and date as TIB and BANK may mutually agree) (the “Election
      Deadline”) shall be converted into TIB Common Stock at the Effective Time, as
      set forth in Section 3.1(b) of this Agreement (such shares being referred
      to as “No Election Shares”).

     

           (4)    Any
      Election Form may be revoked or changed by the person submitting such Election
      Form at or prior to the Election Deadline. In the event an Election Form is
      revoked and a replacement Election Form is not submitted prior to the Election
      Deadline, the shares of BANK Common Stock represented by such Election Form
      shall become No Election Shares. Subject to the terms of this Agreement and
      of
      the Election Form, the Exchange Agent shall have reasonable discretion to
      determine whether any election, revocation or change has been properly or timely
      made and to disregard immaterial defects in the Election Forms, and any good
      faith decisions of the Exchange Agent regarding such matters shall be binding
      and conclusive. Neither TIB nor the Exchange Agent shall be under any obligation
      to notify any person of any defect in an Election Form.

     

           (d)    At
      the
      Effective Time, all outstanding and unexercised options to purchase shares
      of
      BANK Common Stock pursuant to the BANK Stock Option Plans (each, a “BANK
      Option”) will cease to represent an option to purchase BANK Common Stock and
      will be converted automatically into options to purchase TIB Common Stock,
      and
      TIB will assume each BANK Option subject to its terms, including any
      acceleration in vesting that will occur as a consequence of the Merger according
      to the instruments governing the BANK Option; provided,
      however,
      that
      after the Effective Time:

     

    (i)  the
      number of shares of TIB Common Stock purchasable upon exercise of each BANK
      Option will equal the product of (A) the number of shares of BANK Common
      Stock that were purchasable under the BANK Option immediately before the
      Effective Time and (B) the Exchange Ratio, rounded to the nearest whole
      share; and

     

    (ii)  the
      per
      share exercise price for each BANK Option will equal the quotient of
      (A) the per share exercise price of the BANK Option in effect immediately
      before the Effective Time divided by (B) the Exchange Ratio, rounded to the
      nearest cent.

     

    Notwithstanding
      the foregoing, each BANK Option that is intended to be an “incentive stock
      option” (as defined in Section 422 of the IRC) will be adjusted in accordance
      with the requirements of Section 424 of the IRC. As of the date hereof, the
      BANK
      Options provide for the purchase of no more than an aggregate of _______
      additional shares of BANK Common Stock. As soon as practicable after the
      Effective Time, TIB shall file a Registration Statement on Form S-8 (or any
      successor or other appropriate forms), with respect to the shares of TIB Common
      Stock subject to converted or substitute BANK Options and shall use its
      reasonable efforts to maintain the effectiveness of such registration statement
      (and maintain the current status of the prospectus or prospectuses associated
      therewith) for so long as such converted or substitute BANK Options remain
      outstanding. 

     

    3.2  Anti-Dilution
      Provisions. 
      In
      the
      event BANK changes the number of shares of BANK Common Stock issued and
      outstanding prior to the Effective Time as a result of a stock split, stock
      dividend, recapitalization or otherwise with respect to such stock and the
      record date thereof shall be prior to the Effective Time, the Exchange Ratio
      and
      the Per Share Cash Consideration shall be proportionately adjusted as needed
      to
      preserve the relative economic benefit to the Parties. In the event TIB changes
      the number of shares of TIB Common Stock issued and outstanding prior to the
      Effective Time as a result of a stock split, stock dividend or similar
      recapitalization with respect to such stock and the record date thereof shall
      be
      prior to the Effective Time, the Exchange Ratio and the Per Share Cash
      Consideration shall be proportionately adjusted as needed to preserve the
      relative economic benefit to the Parties.

     

    3.3  Shares
      Held by BANK. 
      Each
      of
      the shares of BANK Common Stock held by any BANK Company, other than in a
      fiduciary capacity or as a result of debts previously contracted, shall be
      canceled and retired at the Effective Time and no consideration shall be issued
      in exchange therefor.

     

    3.4  Dissenting
      Stockholders. 
      Notwithstanding
      Section 3.1 of this Agreement, shares of BANK Common Stock issued and
      outstanding at the Effective Time which are held by a holder who perfected
      his
      dissenters’ rights in accordance with Section 658.44 of the FFIC (“Dissenting
      BANK Shares”) shall not be converted into or represent the right to receive the
      consideration payable thereon pursuant to Section 3.1 of this Agreement, and
      any
      such holder shall be entitled only to such rights of appraisal as are granted
      by
      Section 658.44 of the FFIC (“Dissenter Provisions”), unless and until such
      holder fails to perfect or effectively withdraws or otherwise loses his or
      her
      right to appraisal; provided,
      however,
      that no
      payment in connection with Dissenting BANK Shares shall be made to any
      dissenting stockholder unless and until such dissenting stockholder has complied
      with the applicable provisions of the Dissenter Provisions and surrendered
      to
      the Surviving Bank the certificate or certificates representing the Dissenting
      BANK Shares for which payment is being made; provided, further, that nothing
      contained in this Section 3.4 shall in any way limit the right of TIB to
      terminate this Agreement and abandon the Merger under Section 10.1(i). If after
      the Effective Time any such dissenting stockholder fails to perfect or
      effectively withdraws or loses his right to appraisal, such shares of BANK
      Common Stock shall be treated as if they had been converted at the Effective
      Time into the right to receive the consideration payable thereon pursuant to
      Section 3.1 of this Agreement (without interest). BANK shall give TIB prompt
      notice upon receipt by BANK of any written objection to the Merger and such
      written demands for payment for shares of BANK Common Stock under the Dissenter
      Provisions, and the withdrawals of such demands, and any other instruments
      provided to BANK pursuant to the Dissenter Provisions (any stockholder duly
      making such demand being hereinafter called a “Dissenting Stockholder”). Each
      Dissenting Stockholder that becomes entitled, pursuant to the Dissenter
      Provisions, to payment for any shares of BANK Common Stock held by such
      Dissenting Stockholder shall receive payment therefor from TIB (but only after
      the amount thereof shall have been agreed upon or at the times and in the
      amounts required by the Dissenter Provisions). BANK shall not, except with
      the
      prior written consent of TIB, voluntarily make any payment with respect to,
      or
      settle or offer to settle, any demand for payment by a Dissenting
      Stockholder.

     

    3.5  Fractional
      Shares. 
      No
      certificates or scrip representing fractional shares of TIB Common Stock shall
      be issued upon the surrender of certificates for exchange; no dividend or
      distribution with respect to TIB Common Stock shall be payable on or with
      respect to any fractional share; and such fractional share interests shall
      not
      entitle the owner thereof to vote or to any other rights of a stockholder of
      TIB. In lieu of any such fractional share, TIB shall pay to each former
      stockholder of BANK who otherwise would be entitled to receive a fractional
      share of TIB Common Stock an amount in cash (without interest) determined by
      multiplying (a) the Average Quoted Price by (b) the fraction of a
      share of TIB Common Stock to which such holder would otherwise be
      entitled.

     

     

    ARTICLE
      4

    EXCHANGE
      OF SHARES

     

    4.1  Exchange
      Procedures. 
      Promptly
      after the Effective Time, TIB shall cause the Exchange Agent to mail to the
      former stockholders of BANK appropriate transmittal materials (which shall
      specify that delivery shall be effected, and risk of loss and title to the
      certificates theretofore representing shares of BANK Common Stock shall pass,
      only upon proper delivery of such certificates to the Exchange Agent). After
      completion of the allocation procedure set forth in Section 3.1(c)(5) and upon
      surrender of a certificate or certificates for exchange and cancellation to
      the
      Exchange Agent (such shares to be free and clear of all liens, claims and
      encumbrances), together with a properly executed letter of transmittal, the
      holder of such certificate or certificates shall be entitled to receive in
      exchange therefore: (a) a certificate representing that number of whole
      shares of TIB Common Stock which such holder of BANK Common Stock became
      entitled to receive pursuant to the provisions of Article 3 hereof and
      (b) a check representing the aggregate cash consideration, if any, which
      such holder has the right to receive pursuant to the provisions of
      Article 3 hereof, and the certificate or certificates so surrendered shall
      forthwith be cancelled. No interest will be paid or accrued on the Per Share
      Cash Consideration, any cash in lieu of fractional shares, any Additional
      Optional Cash consideration or any unpaid dividends and distributions, if any,
      payable to holders of certificates for BANK Common Stock. TIB shall not be
      obligated to deliver the consideration to which any former holder of BANK Common
      Stock is entitled as a result of the Merger until such holder surrenders his
      certificate or certificates representing the shares of BANK Common Stock for
      exchange as provided in this Section 4.1. The certificate or certificates for
      BANK Common Stock so surrendered shall be duly endorsed as the Exchange Agent
      may require. Any other provision of this Agreement notwithstanding, neither
      the
      Surviving Bank, TIB nor the Exchange Agent shall be liable to a holder of BANK
      Common Stock for any amounts paid or property delivered in good faith to a
      public official pursuant to any applicable abandoned property Law.

     

    4.2  Rights
      of Former BANK Stockholders. 
      At
      the
      Effective Time, the stock transfer books of BANK shall be closed as to holders
      of BANK Common Stock immediately prior to the Effective Time, and no transfer
      of
      BANK Common Stock by any such holder shall thereafter be made or recognized.
      Until surrendered for exchange in accordance with the provisions of Section
      4.1
      or Section 3.4 of this Agreement, each certificate theretofore representing
      shares of BANK Common Stock (“BANK Certificate”), other than shares to be
      canceled pursuant to Section 3.3 of this Agreement, shall from and after
      the Effective Time represent for all purposes only the right to receive the
      consideration provided in Section 3.1 or Section 3.4 of this Agreement, as
      the case may be, in exchange therefor. To the extent permitted by Law, former
      stockholders of record of BANK Common Stock shall be entitled to vote after
      the
      Effective Time at any meeting of TIB stockholders the number of whole shares
      of
      TIB Common Stock into which their respective shares of BANK Common Stock
      (excluding Cash Election Shares) are converted, regardless of whether such
      holders have exchanged their BANK Certificates for certificates representing
      TIB
      Common Stock in accordance with the provisions of this Agreement. Whenever
      a
      dividend or other distribution is declared by TIB on the TIB Common Stock,
      the
      record date for which is at or after the Effective Time, the declaration shall
      include dividends or other distributions on all shares issuable pursuant to
      this
      Agreement. Notwithstanding the preceding sentence, any person holding any BANK
      Certificate shall not be entitled to receive any dividend or other distribution
      payable to holders of TIB Common Stock, which dividend or other distribution
      is
      attributable to such person’s TIB Common Stock represented by said BANK
      Certificate, until such person surrenders said BANK Certificate for exchange
      as
      provided in Section 4.1 of this Agreement. However, upon surrender of such
      BANK
      Certificate, both theTIB Common Stock certificate (together with all such
      undelivered dividends or other distributions, without interest) and any
      undelivered cash payments (without interest) shall be delivered and paid with
      respect to each share represented by such BANK Certificate. No holder of shares
      of BANK Common Stock shall be entitled to receive any dividends or distributions
      declared or made with respect to the TIB Common Stock with a record date before
      the Effective Time of the Merger.

     

    4.3  Identity
      of Recipient of TIB Common Stock. 
      In
      the
      event that the delivery of the consideration provided for in this Agreement
      is
      to be made to a person other than the person in whose name any certificate
      representing shares of BANK Common Stock surrendered is registered, such
      certificate so surrendered shall be properly endorsed (or accompanied by an
      appropriate instrument of transfer), with the signature(s) appropriately
      guaranteed, and otherwise in proper form for transfer, and the person requesting
      such delivery shall pay any transfer or other taxes required by reason of the
      delivery to a person other than the registered holder of such certificate
      surrendered or establish to the satisfaction of TIB that such tax has been
      paid
      or is not applicable.

     

    4.4  Lost
      or Stolen Certificates. 
      If
      any
      holder of BANK Common Stock convertible into the right to receive shares of
      TIB
      Common Stock is unable to deliver the BANK Certificate that represents BANK
      Common Stock, the Exchange Agent, in the absence of actual notice that any
      such
      shares have been acquired by a bona fide purchaser, shall deliver to such holder
      the shares of TIB Common Stock to which the holder is entitled for such shares
      upon presentation of the following: (a) evidence to the reasonable
      satisfaction of TIB that any such BANK Certificate has been lost, wrongfully
      taken or destroyed; (b) such security or indemnity as may be reasonably
      requested by TIB to indemnify and hold TIB and the Exchange Agent harmless;
      and
      (c) evidence satisfactory to TIB that such person is the owner of the
      shares theretofore represented by each BANK Certificate claimed by the holder
      to
      be lost, wrongfully taken or destroyed and that the holder is the person who
      would be entitled to present such BANK Certificate for exchange pursuant to
      this
      Agreement.

     

    4.5  Laws
      of Escheat. 
      If
      any of
      the consideration due or other payments to be paid or delivered to the holders
      of BANK Common Stock is not paid or delivered within the time period specified
      by any applicable laws concerning abandoned property, escheat or similar laws,
      and if such failure to pay or deliver such consideration occurs or arises out
      of
      the fact that such property is not claimed by the proper owner thereof, TIB
      or
      the Exchange Agent shall be entitled (but not required) to dispose of any such
      consideration or other payments in accordance with applicable laws concerning
      abandoned property, escheat or similar Laws. Any other provision of this
      Agreement notwithstanding, none of TIB, TIB-SUB, BANK, the Exchange Agent nor
      any other person acting on their behalf shall be liable to a holder of BANK
      Common Stock for any amount paid or property delivered in good faith to a public
      official pursuant to and in accordance with any applicable abandoned property,
      escheat or similar Law.

     

     

    ARTICLE
      5

    REPRESENTATIONS
      AND WARRANTIES OF BANK

     

     

    BANK
      hereby represents and warrants to TIB as follows:

     

    5.1  Corporate
      Organization, Standing and Power. 
      BANK
      is a
      state banking corporation duly organized, validly existing and in good standing
      under the Laws of the State of Florida, and has the corporate power and
      authority to carry on its business as now conducted and to own, lease and
      operate its Assets and to incur its Liabilities. BANK is duly qualified or
      licensed to transact business as a foreign corporation in good standing in
      the
      states of the United States and foreign jurisdictions where the character of
      its
      Assets or the nature or conduct of its business requires it to be so qualified
      or licensed, except for such jurisdictions in which the failure to be so
      qualified or licensed is not reasonably likely to have, individually or in
      the
      aggregate, a Material Adverse Effect on BANK. BANK has delivered to TIB complete
      and correct copies of its Articles of Incorporation and Bylaws and the articles
      of incorporation, bylaws and other, similar governing instruments of each of
      its
      Subsidiaries, in each case as amended through the date hereof.

     

    5.2  Authority;
      No Breach By Agreement. 

     

    (a)  BANK
      has
      the corporate power and authority necessary to execute, deliver and perform
      its
      obligations under this Agreement and to consummate the transactions provided
      for
      herein. The execution, delivery and performance of this Agreement and the
      consummation of the transactions provided for herein, including the Merger,
      have
      been duly and validly authorized by all necessary corporate action on the part
      of BANK, subject to the approval of this Agreement by the holders of a majority
      of the outstanding shares of BANK Common Stock. Subject to such requisite
      stockholder approval and required regulatory consents, this Agreement represents
      a legal, valid and binding obligation of BANK, enforceable against BANK in
      accordance with its terms.

     

    (b)  Except
      as
      set forth on Schedule
      5.2(b),
      neither
      the execution and delivery of this Agreement by BANK, nor the consummation
      by
      BANK of the transactions provided for herein, nor compliance by BANK with any
      of
      the provisions hereof, will (i) conflict with or result in a breach of any
      provision of BANK’s Articles of Incorporation or Bylaws or the Articles or
      Certificates of Incorporation or Bylaws of any BANK Company, or
      (ii) constitute or result in a Default under, or require any Consent
      pursuant to, or result in the creation of any Lien on any Asset of any BANK
      Company under, any Contract or Permit of any BANK Company, where failure to
      obtain such Consent is reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on such BANK Company, or,
      (iii) subject to receipt of the requisite Consents and approvals of
      Regulatory Authorities referred to in this Agreement, violate or conflict with
      any Law or Order applicable to any BANK Company or any of their respective
      Assets.

     

    (c)  Except
      as
      set forth on Schedule
      5.2(c),
      other
      than (i) in connection or compliance with the provisions of the Securities
      Laws,
      applicable state corporate and securities Laws, (ii) Consents required from
      Regulatory Authorities, (iii) the approval by the stockholders of BANK of the
      Merger and the transactions provided for in this Agreement, (iv) notices to
      or
      filings with the Internal Revenue Service or the Pension Benefit Guaranty
      Corporation with respect to any employee benefit plans, and (v) Consents,
      filings or notifications which, if not obtained or made, are not reasonably
      likely to have, individually or in the aggregate, a Material Adverse Effect
      on
      the BANK Company at issue, no notice to, filing with or Consent of, any Person
      or public body or authority is necessary for the consummation by BANK of the
      Merger and the other transactions provided for in this Agreement. 

     

    5.3  Capital
      Stock.

     

    (a)  The
      authorized capital stock of BANK consists of 2,000,000 shares of BANK Common
      Stock, of which 885,414 shares are issued and outstanding (none of which is
      held
      in the treasury of BANK). All of the issued and outstanding shares of BANK
      Common Stock are duly and validly issued and outstanding and are fully paid
      and
      non-assessable. None of the shares of capital stock, options, or other
      securities of BANK has been issued in violation of the Securities Laws or any
      preemptive rights of the current or past stockholders of BANK. Pursuant to
      the
      terms of the BANK Stock Option Plans, there are currently outstanding options
      with the right to purchase a total of 81,882 shares of BANK Common Stock, as
      more fully set forth in Schedule 5.3
      attached
      hereto. 

     

    (b)  Except
      as
      set forth in Section 5.3(a) of this Agreement, there are no shares of capital
      stock or other equity securities of BANK outstanding and no outstanding options,
      warrants, scrip, rights to subscribe to, calls or commitments of any character
      whatsoever relating to, or securities or rights convertible into or exchangeable
      for, shares of the capital stock of BANK or contracts, commitments,
      understandings or arrangements by which BANK is or may be bound to issue
      additional shares of its capital stock or options, warrants or rights to
      purchase or acquire any additional shares of its capital stock. BANK has no
      liability for dividends declared or accrued, but unpaid, with respect to any
      of
      its capital stock. 

     

    5.4  BANK
      Subsidiaries.

     

    (a)  Each
      of
      the BANK Subsidiaries has the corporate power and authority necessary for it
      to
      own, lease and operate its Assets and to incur its Liabilities and to carry
      on
      its business as now conducted. Each BANK Subsidiary is duly qualified or
      licensed to transact business as a foreign corporation in good standing in
      the
      states of the United States and foreign jurisdictions where the character of
      its
      Assets or the nature or conduct of its business requires it to be so qualified
      or licensed, except for jurisdictions in which the failure to be so qualified
      or
      licensed is not reasonably likely to have, individually or in the aggregate,
      a
      Material Adverse Effect on BANK on a consolidated basis.

     

    (b)  The
      authorized and issued and outstanding capital stock of each BANK Subsidiary
      is
      set forth on Schedule 5.4(b).
      BANK
      owns all of the issued and outstanding shares of capital stock of each BANK
      Subsidiary. None of the shares of capital stock or other securities of any
      BANK
      Subsidiary has been issued in violation of the Securities Laws or any preemptive
      rights. No equity securities of any BANK Subsidiary are or may become required
      to be issued by reason of any options, warrants, scrip, rights to subscribe
      to,
      calls or commitments of any character whatsoever relating to, or securities
      or
      rights convertible into or exchangeable for, shares of the capital stock of
      any
      such Subsidiary, and there are no Contracts by which any BANK Subsidiary is
      bound to issue additional shares of its capital stock or options, warrants
      or
      rights to purchase or acquire any additional shares of its capital stock or
      by
      which any BANK Company is or may be bound to transfer any shares of the capital
      stock of any BANK Subsidiary. There are no Contracts relating to the rights
      of
      any BANK Company to vote or to dispose of any shares of the capital stock of
      any
      BANK Subsidiary. All of the shares of capital stock of each BANK Subsidiary
      are
      fully paid and non-assessable under the applicable corporation Law of the
      jurisdiction in which such Subsidiary is incorporated and organized and are
      owned by BANK free and clear of any Lien. No BANK Subsidiary has any liability
      for dividends declared or accrued, but unpaid, with respect to any of its
      capital stock. For purposes of this Section 5.4(b), references to “capital
      stock” shall be deemed to include membership interests with respect to any BANK
      Company that is a limited liability company.

     

    (c)  The
      minute books of BANK and each BANK Subsidiary contain complete and accurate
      records in all material respects of all meetings and other corporate actions
      held or taken by their respective stockholders and Boards of Directors
      (including all committees thereof), since such entity’s formation. 

     

    5.5  Financial
      Statements. 
      The
      BANK
      has previously furnished to TIB copies of all BANK Financial Statements and
      BANK
      Call Reports for periods ended prior to the date hereof, and BANK will deliver
      to TIB promptly copies of all BANK Financial Statements and BANK Call Reports
      prepared subsequent to the date hereof. The BANK Financial Statements (as of
      the
      dates thereof and for the periods covered thereby) (a) are or, if dated
      after the date of this Agreement, will be in accordance with the books and
      records of the BANK Companies, which are or will be, as the case may be,
      complete and correct and which have been or will have been, as the case may
      be,
      maintained in accordance with good business practices and in accordance with
      applicable legal and accounting principles and reflect only actual transactions,
      and (b) present or will present, as the case may be, fairly the
      consolidated financial position of the BANK Companies as of the dates indicated
      and the consolidated results of operations, changes in stockholders’ equity and
      cash flows of the BANK Companies for the periods indicated, in accordance with
      GAAP (subject to exceptions as to consistency specified therein or as may be
      indicated in the notes thereto or, in the case of interim financial statements,
      to normal recurring year-end audit adjustments that are not material). The
      BANK
      Call Reports have been prepared in material compliance with (i) the rules and
      regulations of the respective federal or state banking regulator with which
      they
      were filed, and (ii) regulatory accounting principles, which principles have
      been consistently applied during the periods involved, except as otherwise
      noted
      therein.

     

    5.6  Absence
      of Undisclosed Liabilities. 
      No
      BANK
      Company has any Liabilities that have or are reasonably likely to have,
      individually or in the aggregate, a Material Adverse Effect on BANK, except
      Liabilities accrued or reserved against in the consolidated balance sheets
      of
      BANK as of December 31, 2005, included in the BANK Financial Statements or
      reflected in the notes thereto, except as set forth on Schedule
      5.6.
      No BANK
      Company has incurred or paid any Liability since December 31, 2005, except
      for
      such Liabilities incurred or paid in the ordinary course of business consistent
      with past business practice and which are not reasonably likely to have,
      individually or in the aggregate, a Material Adverse Effect on
      BANK.

     

    5.7  Absence
      of Certain Changes or Events. 
      Except
      as
      set forth on Schedule 5.7,
      since
      December 31, 2005: (i) there have been no events, changes or occurrences
      that have had, or are reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on BANK or its Subsidiaries, including
      without limitation any change in the administrative or supervisory standing
      or
      rating of BANK with any Regulatory Authority, (ii) the BANK Companies have
      not taken any action, or failed to take any action, prior to the date of this
      Agreement, which action or failure, if taken after the date of this Agreement,
      would represent or result in a material breach or violation of any of the
      covenants and agreements of BANK provided in Article 7 of this Agreement, and
      (iii) to BANK’s Knowledge, no fact or condition exists which BANK believes
      will cause a Material Adverse Effect on BANK or its Subsidiaries in the future,
      subject to changes in general economic or industry conditions. 

     

    5.8  Tax
      Matters.

     

    (a)  All
      Tax
      returns required to be filed by or on behalf of any of the BANK Companies have
      been timely filed or requests for extensions have been timely filed, granted
      and
      have not expired, and all returns filed are complete and accurate in all
      material respects. All Taxes shown as due on filed returns have been paid.
      There
      is no audit examination, deficiency, refund Litigation or matter in controversy
      pending, or to the Knowledge of BANK, threatened, with respect to any Taxes
      that
      might result in a determination that would have, individually or in the
      aggregate, a Material Adverse Effect on BANK, except as reserved against in
      the
      BANK Financial Statements delivered prior to the date of this Agreement. All
      Taxes and other Liabilities due with respect to completed and settled
      examinations or concluded Litigation have been fully paid.

     

    (b)  None
      of
      the BANK Companies has executed an extension or waiver of any statute of
      limitations on the assessment or collection of any Tax due (excluding such
      statutes that relate to years currently under examination by the Internal
      Revenue Service or other applicable taxing authorities) that is currently in
      effect.

     

    (c)  Adequate
      provision for any Taxes due or to become due for any of the BANK Companies
      for
      the period or periods through and including the date of the respective BANK
      Financial Statements has been made and is reflected on such BANK Financial
      Statements.

     

    (d)  Any
      and
      all deferred Taxes of the BANK Companies have been provided for in accordance
      with GAAP.

     

    (e)  None
      of
      the BANK Companies is responsible for the Taxes of any other Person other than
      the BANK Companies under Treasury Regulation 1.1502-6 or any similar provision
      of federal or state Law.

     

    (f)  Except
      as
      set forth on Schedule
      5.8(f),
      none of
      the BANK Companies has made any payment, is obligated to make any payment or
      is
      a party to any Contract that could obligate it to make any payment that would
      be
      disallowed as a deduction under Section 280G or 162(m) of the IRC.

     

    (g)  There
      has
      not been an ownership change, as defined in Section 382(g) of the IRC, that
      occurred during or after any taxable period in which BANK or any BANK
      Subsidiaries incurred an operating loss that carries over to any taxable period
      ending after the fiscal year of BANK immediately preceding the date of this
      Agreement.

     

    (h)  (i)
      Proper and accurate amounts have been withheld by the BANK Companies from their
      employees and others for all prior periods in compliance in all material
      respects with the tax withholding provisions of all applicable federal, state
      and local Laws, and proper due diligence steps have been taken in connection
      with back-up withholding, (ii) federal, state and local returns have been filed
      by the BANK Companies for all periods for which returns were due with respect
      to
      withholding, Social Security and unemployment taxes or charges due to any
      federal, state or local taxing authority and (iii) the amounts shown on such
      returns to be due and payable have been paid in full or adequate provision
      therefore have been included by BANK in the BANK Financial
      Statements.

     

    (i)  BANK
      has
      delivered or made available to TIB correct and complete copies of all Tax
      returns filed by BANK and each BANK Subsidiary for each fiscal year ended on
      and
      after December 31, 2002. 

     

    (j)  BANK
      has
      in effect an election to be treated as an “S corporation” within the meaning of
      Section 1361 of the IRC. 

     

    5.9  Loan
      Portfolio; Documentation and Reports. 

     

    (a)  Except
      as
      disclosed in Schedule 5.9(a),
      none of
      the BANK Companies is a creditor as to any written or oral loan agreement,
      note
      or borrowing arrangement, including without limitation leases, credit
      enhancements, commitments and interest-bearing assets (excluding investment
      securities) (the “Loans”), other than Loans the unpaid principal balance of
      which does not exceed $25,000 per Loan or $50,000 in the aggregate, under the
      terms of which the obligor is, as of the date of this Agreement, over 90 days
      delinquent in payment of principal or interest or in default of any other
      material provisions. Except as otherwise set forth in Schedule 5.9(a),
      none of
      the BANK Companies is a creditor as to any Loan, including without limitation
      any loan guaranty, to any director, executive officer or 5% stockholder thereof,
      or to the Knowledge of BANK, any Person controlling, controlled by or under
      common control with any of the foregoing. All of the Loans held by any of the
      BANK Companies are in all respects the binding obligations of the respective
      obligors named therein in accordance with their respective terms, are not
      subject to any defenses, setoffs or counterclaims, except as may be provided
      by
      bankruptcy, insolvency or similar Laws or by general principles of equity,
      and
      were solicited, originated and exist in material compliance with all applicable
      Laws and BANK loan policies, except for deviations from such policies that
      (a) have been approved by current management of BANK, in the case of Loans
      with an outstanding principal balance that exceeds $25,000, or (b) in the
      judgment of BANK, will not adversely affect the ultimate collectibility of
      such
      Loan. Except as set forth in Schedule 5.9(a),
      none of
      the BANK Companies holds any Loans in the original principal amount in excess
      of
      $25,000 per Loan or $50,000 in the aggregate that have been classified by any
      bank examiner, whether regulatory or internal, as “other loans Specifically
      Mentioned,” “Special Mention,” “Substandard,” “Doubtful,” “Loss,” “Classified,”
“Watch List,” “Criticized,” “Credit Risk Assets,” “concerned loans” or words of
      similar import. The allowance for possible loan or credit losses (the “BANK
      Allowance”) shown on the consolidated balance sheets of BANK included in the
      most recent BANK Financial Statements dated prior to the date of this Agreement
      was, and the BANK Allowance shown on the consolidated balance sheets of BANK
      included in the BANK Financial Statements as of dates subsequent to the
      execution of this Agreement will be, as of the dates thereof, adequate (within
      the meaning of GAAP and applicable regulatory requirements or guidelines) to
      provide for losses relating to or inherent in the loan and lease portfolios
      (including accrued interest receivables) of the BANK Companies and other
      extensions of credit (including letters of credit and commitments to make loans
      or extend credit) by the BANK Companies as of the dates thereof. The reserve
      for
      losses with respect to other real estate owned (“OREO Reserve”) shown on the
      most recent Financial Statements and BANK Call Reports were, and the OREO
      Reserve to be shown on the Financial Statements and BANK Call Reports as of
      any
      date subsequent to the execution of this Agreement will be, as of such dates,
      adequate to provide for losses relating to the other real estate owned portfolio
      of BANK as of the dates thereof. The reserve for losses in respect of litigation
      (“Litigation Reserve”) shown on the most recent Financial Statements and BANK
      Call Reports and the Litigation Reserve to be shown on the Financial Statements
      and BANK Call Reports as of any date subsequent to the execution of this
      Agreement will be, as of such dates, adequate to provide for losses relating
      to
      or arising out of all pending or threatened litigation applicable to BANK and
      the BANK Subsidiaries as of the dates thereof. Each such reserve described
      above
      has been established in accordance with applicable accounting principles and
      regulatory requirements and guidelines.

     

    (b)  The
      documentation relating to each Loan made by any BANK Company and to all security
      interests, mortgages and other liens with respect to all collateral for loans
      is
      adequate for the enforcement of the material terms of such Loan, security
      interest, mortgage or other lien, except for inadequacies in such documentation
      which will not, individually or in the aggregate, have a Material Adverse Effect
      on BANK.

     

    5.10  Assets;
      Insurance. 
      Except
      as
      set forth on Schedule
      5.10,
      the
      BANK Companies have marketable title, free and clear of all Liens, to all of
      their respective Assets. One of the BANK Companies has good and marketable
      fee
      simple title to the real property described in Schedule 5.10(a)
      and has
      an enforceable leasehold interest in the real property described in Schedule 5.10(b),
      if any,
      free and clear of all Liens. All tangible real and personal properties and
      Assets used in the businesses of the BANK Companies are in good condition,
      reasonable wear and tear excepted, and are usable in the ordinary course of
      business consistent with BANK’s past practices. All Assets that are material to
      BANK’s business on a consolidated basis, held under leases or subleases by any
      of the BANK Companies are held under valid Contracts enforceable in accordance
      with their respective terms (except as enforceability may be limited by
      applicable bankruptcy, insolvency, reorganization, moratorium or other Laws
      affecting the enforcement of creditors’ rights generally and except that the
      availability of the equitable remedy of specific performance or injunctive
      relief is subject to the discretion of the court before which any proceedings
      may be brought), and each such Contract is in full force and effect and there
      is
      not under any such Contract any Default or claim of Default by BANK or, to
      the
      Knowledge of BANK, by any other party to the Contract. Schedules
      5.10(a)
      and
5.10(b)
      identify
      each parcel of real estate or interest therein owned, leased or subleased by
      any
      of the BANK Companies or in which any BANK Company has any ownership or
      leasehold interest. If applicable, Schedule
      5.10(b)
      also
      lists or otherwise describes each and every written or oral lease or sublease
      under which any BANK Company is the lessee of any real property and which
      relates in any manner to the operation of the businesses of any BANK Company.
      None of the BANK Companies has violated, or is currently in violation of, any
      Law, regulation or ordinance relating to the ownership or use of the real estate
      and real estate interests described in Schedules
      5.10(a)
      and
5.10(b),
      including without limitation any Law relating to zoning, building, occupancy,
      environmental or comparable matter which individually or in the aggregate would
      have a Material Adverse Effect on BANK. As to each parcel of real property
      owned
      or used by any BANK Company, no BANK Company has received notice of any pending
      or, to the Knowledge of each of the BANK Companies, threatened condemnation
      proceedings, litigation proceedings or mechanic’s or materialmens’ liens. The
      Assets of the BANK Companies include all assets required to operate the business
      of the BANK
      Companies as
      now
      conducted. The policies of fire, theft, liability, D&O and other insurance
      maintained with respect to the Assets or businesses of the BANK Companies
      provide adequate coverage under current industry practices against loss or
      Liability, and the fidelity and blanket bonds in effect as to which any of
      the
      BANK Companies is a named insured are reasonably sufficient. Schedule
      5.10(c)
      contains
      a list of all such policies and bonds maintained by any of the BANK Companies,
      and BANK has provided true and correct copies of each such policy to
      TIB.

     

    5.11  Environmental
      Matters.

     

    (a)  To
      the
      Knowledge of Bank, each BANK Company, its Participation Facilities and its
      Loan
      Properties are, and have been, in compliance with all Environmental Laws, except
      for violations that are not reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on BANK.

     

    (b)  There
      is
      no Litigation pending or, to the Knowledge of BANK, threatened before any court,
      governmental agency or authority or other forum in which any BANK Company or
      any
      of its Participation Facilities has been or, with respect to threatened
      Litigation, may be named as a defendant (i) for alleged noncompliance
      (including by any predecessor) with any Environmental Law or (ii) relating
      to the release into the environment of any Hazardous Material or oil, whether
      or
      not occurring at, on, under or involving a site owned, leased or operated by
      any
      BANK Company or any of its Participation Facilities, except for such Litigation
      pending or threatened that is not reasonably likely to have, individually or
      in
      the aggregate, a Material Adverse Effect on BANK.

     

    (c)  There
      is
      no Litigation pending or, to the Knowledge of BANK, threatened before any court,
      governmental agency or board or other forum in which any of its Loan Properties
      (or BANK with respect to such Loan Property) has been or, with respect to
      threatened Litigation, may be named as a defendant or potentially responsible
      party (i) for alleged noncompliance (including by any predecessor) with any
      Environmental Law or (ii) relating to the release into the environment of
      any Hazardous Material or oil, whether or not occurring at, on, under or
      involving a Loan Property, except for such Litigation pending or threatened
      that
      is not reasonably likely to have, individually or in the aggregate, a Material
      Adverse Effect on BANK.

     

    (d)  To
      the
      Knowledge of BANK, there is no reasonable basis for any Litigation of a type
      described in subsections 5.11(b) or 5.11(c), except such as is not reasonably
      likely to have, individually or in the aggregate, a Material Adverse Effect
      on
      BANK.

     

    (e)  During
      the period of (i) any BANK Company’s ownership or operation of any of its
      respective current properties, (ii) any BANK Company’s participation in the
      management of any Participation Facility or (iii) any BANK Company’s
      holding of a security interest in a Loan Property, there have been no releases
      of Hazardous Material or oil in, on, under or affecting such properties, except
      such as are not reasonably likely to have, individually or in the aggregate,
      a
      Material Adverse Effect on BANK. Prior to the period of (i) any BANK
      Company’s ownership or operation of any of its respective current properties,
      (ii) any BANK Company’s participation in the management of any
      Participation Facility, or (iii) any BANK Company’s holding of a security
      interest in a Loan Property, to the Knowledge of BANK, there were no releases
      of
      Hazardous Material or oil in, on, under or affecting any such property,
      Participation Facility or Loan Property, except such as are not reasonably
      likely to have, individually or in the aggregate, a Material Adverse Effect
      on
      BANK.

     

    5.12  Compliance
      with Laws. 
      Each
      BANK
      Company has in effect all Permits necessary for it to own, lease or operate
      its
      Assets and to carry on its business as now conducted, except for those Permits
      the absence of which are not reasonably likely to have, individually or in
      the
      aggregate, a Material Adverse Effect on BANK, and there has occurred no Default
      under any such Permit. None of the BANK Companies:

     

    (a)  is
      in
      material violation of any Laws, Orders or Permits applicable to its business
      or
      employees, agents or representatives conducting its business; or

     

    (b)  has
      received any notification or communication from any agency or department of
      federal, state or local government or any Regulatory Authority or the staff
      thereof (i) asserting that any BANK Company is not, or suggesting that any
      BANK Company may not be, in compliance with any of the Laws or Orders that
      such
      governmental authority or Regulatory Authority enforces, (ii) threatening
      to revoke any Permits, (iii) requiring any BANK Company, or suggesting that
      any BANK Company may be required, to enter into or consent to the issuance
      of a
      cease and desist order, formal agreement, directive, commitment or memorandum
      of
      understanding, or to adopt any board resolution or similar undertaking, or
      (iv)
      directing, restricting or limiting, or purporting to direct, restrict or limit
      in any manner the operations of any BANK Company, including without limitation
      any restrictions on the payment of dividends, or that in any manner relates
      to
      such entity’s capital adequacy, credit or reserve policies or management or
      business.

     

    5.13  Labor
      Relations; Executive Officers.

     

    (a)  No
      BANK
      Company is the subject of any Litigation asserting that it or any other BANK
      Company has committed an unfair labor practice (within the meaning of the
      National Labor Relations Act or comparable state Law) or seeking to compel
      it or
      any other BANK Company to bargain with any labor organization as to wages or
      conditions of employment, nor is there any strike or other labor dispute
      involving any BANK Company, pending or threatened, nor to its Knowledge, is
      there any activity involving any BANK Company’s employees seeking to certify a
      collective bargaining unit or engaging in any other organization activity.
      Each
      BANK Company is and has been in compliance with all Employment Laws, except
      for
      violations that are not reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on BANK.

     

    (b)  Schedule
      5.13(b)
      contains
      a true and complete list showing the names and current annual salaries of all
      current executive officers of each of the BANK Companies and lists for each
      such
      person the amounts paid, payable or expected to be paid as salary, bonus
      payments and other compensation for 2004, 2005 and 2006. Schedule
      5.13(b)
      also
      sets forth the name and offices held by each officer and director of each of
      the
      BANK Companies.

     

    5.14  Employee
      Benefit Plans.

     

    (a)  Schedule
      5.14(a)
      lists,
      and BANK has delivered or made available to TIB prior to the execution of this
      Agreement copies of, all pension, retirement, profit-sharing, salary
      continuation and split dollar agreements, deferred compensation, director
      deferred fee agreements, director retirement agreement, stock option, employee
      stock ownership, severance pay, vacation, bonus or other incentive plan, all
      other written or unwritten employee programs, arrangements or agreements, all
      medical, vision, dental or other health plans, all life insurance plans, and
      all
      other employee benefit plans or fringe benefit plans, including, without
      limitation, “employee benefit plans” as that term is defined in Section 3(3) of
      ERISA, currently adopted, maintained by, sponsored in whole or in part by,
      or
      contributed to by any BANK Company or Affiliate thereof for the benefit of
      employees, retirees, dependents, spouses, directors, independent contractors
      or
      other beneficiaries and under which employees, retirees, dependents, spouses,
      directors, independent contractors or other beneficiaries are eligible to
      participate (collectively, the “BANK Benefit Plans”). Any of the BANK Benefit
      Plans which is an “employee pension benefit plan,” as that term is defined in
      Section 3(2) of ERISA, is referred to herein as a “BANK ERISA Plan.” Each BANK
      ERISA Plan which is also a “defined benefit plan” (as defined in Section 414(j)
      of the IRC) is referred to herein as a “BANK Pension Plan”. No BANK Pension Plan
      is or has been a multi-employer plan within the meaning of Section 3(37) of
      ERISA.

     

    (b)  All
      BANK
      Benefit Plans and the administration thereof are in compliance with the
      applicable terms of ERISA, the IRC and any other applicable Laws, the breach
      or
      violation of which is reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on BANK. Each BANK ERISA Plan which is
      intended to be qualified under Section 401(a) of the IRC has received a
      favorable determination letter or opinion letter, as applicable, from the
      Internal Revenue Service, and BANK is not aware of any circumstances that could
      result in revocation of any such favorable determination letter/opinion letter.
      No BANK Company has engaged in a transaction with respect to any BANK Benefit
      Plan that, assuming the taxable period of such transaction expired as of the
      date hereof, would subject any BANK Company to a tax or penalty imposed by
      either Section 4975 of the IRC or Section 502(i) of ERISA in amounts which
      are
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect on BANK. There are no actions, suits, arbitrations or claims, including
      any investigations or audits by the Internal Revenue Service or any other
      governmental authority, pending (other than routine claims for benefits) or
      threatened against, any BANK Benefit Plan or any BANK Company with regard to
      any
      BANK Benefit Plan, any trust which is a part of any BANK Benefit Plan, any
      trustee, fiduciary, custodian, administrator or other person or entity holding
      or controlling assets of any BANK Benefit Plan, and no basis to anticipate
      any
      such action, suit, arbitration, claim, investigation or audit
      exists.

     

    (c)  No
      BANK
      ERISA Plan which is a defined benefit pension plan has any “unfunded current
      liability,” as that term is defined in Section 302(d)(8)(A) of ERISA, and the
      fair market value of the assets of any such plan exceeds the plan’s “benefit
      liabilities,” as that term is defined in Section 4001(a)(16) of ERISA, when
      determined under actuarial factors that would apply if the plan terminated
      in
      accordance with all applicable legal requirements. Since the date of the most
      recent actuarial valuation, there has been (i) no material change in the
      financial position of any BANK Pension Plan, (ii) no change in the
      actuarial assumptions with respect to any BANK Pension Plan, (iii) no
      increase in benefits under any BANK Pension Plan as a result of plan amendments
      or changes in applicable Law which is reasonably likely to materially adversely
      affect the funding status of any such plan. Neither any BANK Pension Plan nor
      any “single-employer plan,” within the meaning of Section 4001(a)(15) of ERISA,
      currently or formerly maintained by any BANK Company, or the single-employer
      plan of any entity which is considered one employer with BANK under Section
      4001
      of ERISA or Section 414 of the IRC or Section 302 of ERISA (whether or not
      waived) (an “ERISA Affiliate”) has an “accumulated funding deficiency” within
      the meaning of Section 412 of the IRC or Section 302 of ERISA, which is
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect on BANK. No BANK Company has provided, or is required to provide,
      security to a BANK Pension Plan or to any single-employer plan of an ERISA
      Affiliate pursuant to Section 401(a)(29) of the IRC.

     

    (d)  No
      Liability under Subtitle C or D of Title IV of ERISA has been or is expected
      to
      be incurred by any BANK Company with respect to any ongoing, frozen or
      terminated single-employer plan or the single-employer plan of any ERISA
      Affiliate. No BANK Company has incurred any withdrawal Liability with respect
      to
      a multi-employer plan under Subtitle D of Title IV of ERISA (regardless of
      whether based on contributions of an ERISA Affiliate), which Liability is
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect on BANK. No notice of a “reportable event,” within the meaning of Section
      4043 of ERISA for which the 30-day reporting requirement has not been waived,
      has been required to be filed for any BANK Pension Plan or by any ERISA
      Affiliate within the 12-month period ending on the date hereof.

     

    (e)  No
      BANK
      Company has any obligations for retiree health and life benefits under any
      of
      the BANK Benefit Plans, and there are no restrictions on the rights of such
      BANK
      Company to amend or terminate any such plan without incurring any Liability
      thereunder, which Liability is reasonably likely to have a Material Adverse
      Effect on BANK.

     

    (f)  Except
      as
      set forth on Schedule
      5.14(f),
      neither
      the execution and delivery of this Agreement nor the consummation of the
      transactions provided for herein will (i) result in any payment (including,
      without limitation, severance, unemployment compensation, golden parachute
      or
      otherwise) becoming due to any director or any employee of any BANK Company
      from
      any BANK Company under any BANK Benefit Plan, employment contract or otherwise,
      (ii) increase any benefits otherwise payable under any BANK Benefit Plan,
      or (iii) result in any acceleration of the time of payment or vesting of
      any such benefit.

     

    (g)  With
      respect to all BANK Benefit Plans (whether or not subject to ERISA and whether
      or not qualified under Section 401(a) of the IRC), all contributions due
      (including any contributions to any trust account or payments due under any
      insurance policy) previously declared or otherwise required by Law or contract
      to have been made and any employer contributions (including any contributions
      to
      any trust account or payments due under any insurance policy) accrued but unpaid
      as of the date hereof will be paid by the time required by Law or contract.
      All
      contributions made or required to be made under any BANK Benefit Plan have
      been
      made and such contributions meet the requirements for deductibility under the
      IRC, and all contributions which are required and which have not been made
      have
      been properly recorded on the books of BANK.

     

    5.15  Material
      Contracts. 
      Except
      as
      set forth on Schedule
      5.15,
      none of
      the BANK Companies, nor any of their respective Assets, businesses or
      operations, is a party to, or is bound or affected by, or receives benefits
      under any of the following (whether written or oral, express or implied):
      (i) any employment, severance, termination, consulting or retirement
      Contract with any Person; (ii) any Contract relating to the borrowing of
      money by any BANK Company or the guarantee by any BANK Company of any such
      obligation (other than Contracts evidencing deposit liabilities, purchases
      of
      federal funds, fully-secured repurchase agreements, trade payables and Contracts
      relating to borrowings or guarantees made and letters of credit); (iii) any
      Contract relating to indemnification or defense of any director, officer or
      employee of any of the BANK Companies or any other Person; (iv) any
      Contract with any labor union; (v) any Contract relating to the disposition
      or acquisition of any interest in any business enterprise; (vi) any
      Contract relating to the extension of credit to, provision of services for,
      sale, lease or license of Assets to, engagement of services from, or purchase,
      lease or license of Assets from, any 5% stockholder, director or officer of
      any
      of the BANK Companies, any member of the immediate family of the foregoing
      or,
      to the Knowledge of BANK, any related interest (as defined in Regulation O
      promulgated by the FRB) (“Related Interest”) of any of the foregoing;
      (vii) any Contract (A) which limits the freedom of any of the BANK
      Companies to compete in any line of business or with any Person or
      (B) which limits the freedom of any other Person to compete in any line of
      business with any BANK Company; (viii) any Contract providing a power of
      attorney or similar authorization given by any of the BANK Companies, except
      as
      issued in the ordinary course of business with respect to routine matters;
      or
      (ix) any Contract (other than deposit agreements and certificates of
      deposits issued to customers entered into in the ordinary course of business
      and
      letters of credit) that involves the payment by any of the BANK Companies of
      amounts aggregating $50,000 or more in any twelve-month period (together with
      all Contracts referred to in Sections 5.10 and 5.14(a) of this Agreement, the
      “BANK Contracts”). BANK has delivered or made available to TIB correct and
      complete copies of all BANK Contracts. Each of the BANK Contracts is in full
      force and effect, and none of the BANK Companies is in Default under any BANK
      Contract. All of the indebtedness of any BANK Company for money borrowed is
      prepayable at any time by such BANK Company without penalty or
      premium.

     

    5.16  Legal
      Proceedings. 
      Except
      as
      set forth on Schedule
      5.16,
      there
      is no Litigation instituted or pending, or, to the Knowledge of BANK, threatened
      (or unasserted but considered probable of assertion) against any BANK Company,
      or against any Asset, interest, or right of any of them, nor are there any
      Orders of any Regulatory Authorities, other governmental authorities or
      arbitrators outstanding, pending or, to the knowledge of BANK, threatened
      against any BANK Company.

     

    5.17  Reports. 
      Since
      its
      formation, each BANK Company has timely filed all reports, registrations and
      statements, together with any amendments required to be made with respect
      thereto, that it was required to file with (i) any Regulatory Authorities and
      (ii) any applicable state securities or banking authorities and all other
      material reports and statements required to be filed by it, and has paid all
      fees and assessments due and payable in connection therewith. Except for normal
      examinations conducted by Regulatory Authorities in the regular course of the
      business of the BANK Companies, to the Knowledge of any BANK Company, no
      Regulatory Authority has initiated any proceeding or, to the Knowledge of any
      BANK Company, investigation into the business or operations of any BANK Company.
      There is no unresolved violation, criticism or exception by any Regulatory
      Authority with respect to any report or statement or any examinations of any
      BANK Company or any lien in favor of any BANK Company. As of their respective
      dates, each of such reports, registrations, statements and documents, including
      the financial statements, exhibits, and schedules thereto, complied in all
      material respects with all applicable Laws. As of its respective date, each
      of
      such reports, registrations, statements and documents did not, in any material
      respect, contain any untrue statement of a material fact or omit to state a
      material fact required to be stated therein or necessary to make the statements
      made therein, in light of the circumstances under which they were made, not
      misleading. Other than the BANK Call Reports, the financial information and
      reports contained in each of such reports, registrations, statements and
      documents (including the related notes, where applicable), (a) has been
      prepared in all material respects in accordance with GAAP, which principles
      have
      been consistently applied during the periods involved, except as otherwise
      noted
      therein, (b) fairly presents the financial position of the BANK Companies
      as of the respective dates thereof, and (c) fairly presents the results of
      operations of the BANK Companies for the respective periods therein set
      forth.

     

    5.18  Statements
      True and Correct. 
      Neither
      this Agreement nor any statement, certificate, instrument or other writing
      furnished or to be furnished by any BANK Company or any Affiliate thereof to
      TIB
      pursuant to this Agreement, including the Exhibits and Schedules hereto, or
      any
      other document, agreement or instrument referred to herein, contains or will
      contain any untrue statement of material fact or will omit to state a material
      fact necessary to make the statements therein, in light of the circumstances
      under which they were made, not misleading. None of the information supplied
      or
      to be supplied by any BANK Company or any Affiliate thereof for inclusion in
      the
      documents to be prepared by TIB in connection with the transactions provided
      for
      in this Agreement, including without limitation (i) documents to be filed
      with the SEC, including without limitation the Registration Statement on Form
      S-4 of TIB registering the shares of TIB Common Stock to be offered to the
      holders of BANK Common Stock, and all amendments thereto (as amended, the “S-4
      Registration Statement”) and the Proxy Statement and Prospectus in the form
      contained in the S-4 Registration Statement, and all amendments and supplements
      thereto (as amended and supplemented, the “Proxy Statement/Prospectus”),
      (ii) filings pursuant to any state securities and blue sky Laws, and
      (iii) filings made in connection with the obtaining of Consents from
      Regulatory Authorities, in the case of the S-4 Registration Statement, at the
      time the S-4 Registration Statement is declared effective pursuant to the 1933
      Act, in the case of the Proxy Statement/Prospectus, at the time of the mailing
      thereof and at the time of the meeting of stockholders to which the Proxy
      Statement/Prospectus relates, and in the case of any other documents, the time
      such documents are filed with a Regulatory Authority and/or at the time they
      are
      distributed to stockholders of TIB or BANK, contains or will contain any untrue
      statement of a material fact or fails to state any material fact required to
      be
      stated therein or necessary in order to make the statements therein, in light
      of
      the circumstances under which they were made, not misleading. All documents
      that
      any BANK Company is responsible for filing with any Regulatory Authority in
      connection with the transactions provided for herein will comply as to form
      in
      all material respects with the provisions of applicable Law.

     

    5.19  Accounting,
      Tax and Regulatory Matters. 
      No
      BANK
      Company or any Affiliate thereof has taken any action or has any Knowledge
      of
      any fact or circumstance that is reasonably likely to (i) prevent the
      transactions provided for herein, including the Merger, from qualifying as
      a
      reorganization within the meaning of Section 368(a) of the IRC, or
      (ii) materially impede or delay receipt of any Consents of Regulatory
      Authorities referred to in subsection 9.1(b) of this Agreement or result in
      the
      imposition of a condition or restriction of the type referred to in the last
      sentence of such subsection 9.1(b).

     

    5.20  Offices. 
      The
      headquarters of each BANK Company and each other office, branch or facility
      maintained and operated by each BANK Company (including without limitation
      representative and loan production offices and operations centers) and the
      locations thereof are listed on Schedule
      5.20.
      None of
      the BANK Companies maintains any other office or branch or conducts business
      at
      any other location, or has applied for or received permission to open any
      additional office or branch or to operate at any other location.

     

    5.21  Data
      Processing Systems. 
      The
      electronic data processing systems and similar systems utilized in processing
      the work of each of the BANK Companies, including both hardware and software,
      (a) are supplied by a third party provider; (b) satisfactorily perform
      the data processing function for which they are presently being used; and
      (c) are wholly within the possession and control of one of the BANK
      Companies or its third party provider such that physical access to all software,
      documentation, passwords, access codes, backups, disks and other data storage
      devices and similar items readily can be made accessible to and delivered into
      the possession of TIB or TIB’s third party provider.

     

    5.22  Intellectual
      Property. 
      Each
      of
      the BANK Companies owns or possesses valid and binding licenses and other rights
      to use without additional payment all material patents, copyrights, trade
      secrets, trade names, service marks, trademarks, computer software and other
      intellectual property used in its business; and none of the BANK Companies
      has
      received any notice of conflict with respect thereto that asserts the rights
      of
      others. The BANK Companies have in all material respects performed all the
      obligations required to be performed by them and are not in default in any
      material respect under any contract, agreement, arrangement or commitment
      relating to any of the foregoing. Schedule
      5.22
      lists
      all of the trademarks, trade names, licenses and other intellectual property
      used to conduct the businesses of the BANK Companies. Each of the BANK Companies
      has taken reasonable precautions to safeguard its trade secrets from disclosure
      to third-parties.

     

    5.23  Administration
      of Trust Accounts. 
      BANK
      does
      not possess and does not exercise trust powers.

     

    5.24  Advisory
      Fees. 
      BANK
      has
      retained the BANK Financial Advisor to serve as its financial advisor and,
      as of
      the Effective Time, shall incur a liability to the BANK Financial Advisor in
      the
      amount set forth on Schedule
      5.24
      (the
“Advisory Fee”) in connection with the Merger. Other than the BANK Financial
      Advisor and the Advisory Fee, neither BANK nor any of its Subsidiaries nor
      any
      of their respective officers or directors has employed any broker or finder
      or
      incurred any liability for any broker’s fees, commissions or finder’s fees in
      connection with any of the transactions provided for in this
      Agreement.

     

    5.25  Regulatory
      Approvals. 
      BANK
      knows of no reason why all requisite regulatory approvals regarding the Merger
      should not or cannot be obtained.

     

    5.26  Opinion
      of Counsel. 
      BANK
      has
      no Knowledge of any facts that would preclude issuance of the opinion of counsel
      referred to in subsection 9.2(d).

     

    5.27  Repurchase
      Agreements; Derivatives Contracts. 
      With
      respect to all agreements currently outstanding pursuant to which any BANK
      Company has purchased securities subject to an agreement to resell, such BANK
      Company has a valid, perfected first lien or security interest in the securities
      or other collateral securing such agreement, and the value of such collateral
      equals or exceeds the amount of the debt secured thereby. With respect to all
      agreements currently outstanding pursuant to which any BANK Company has sold
      securities subject to an agreement to repurchase, no BANK Company has pledged
      collateral in excess of the amount of the debt secured thereby. No BANK Company
      has pledged collateral in excess of the amount required under any interest
      rate
      swap or other similar agreement currently outstanding. No BANK Company is a
      party to, nor has any BANK Company agreed to enter into any exchange-traded
      or
      over-the-counter swap, forward, future, option, cap, floor, or collar financial
      contract or agreement, or any other interest rate or foreign currency protection
      contract not included on its balance sheet which is a financial derivative
      contract (including various combinations thereof).

     

    5.28  Anti-takeover
      Provisions. 
      Each
      BANK
      Company has taken all actions required to exempt such BANK Company, this
      Agreement, the Merger, the Subsidiary Merger Agreement and the Subsidiary Merger
      from any provisions of an anti-takeover nature contained in their organizational
      documents or the provisions of any federal or state “anti-takeover,” “fair
      price,” “moratorium,” “control share acquisition” or similar Laws or regulations
      (“Takeover Laws”) if applicable to any of the BANK Companies immediately prior
      to the Effective Time.

     

    5.29  Transactions
      with Management. 
      Except
      for (a) deposits, all of which are on terms and conditions comparable in
      all material respects to those made available to other nonaffiliated similarly
      situated customers of BANK at the time such deposits were entered into,
      (b) the loans listed on Schedule
      5.9(a),
      (c) the agreements designated on Schedule
      5.15,
      (d) obligations under employee benefit plans of the BANK Companies set
      forth in Schedule
      5.14(a)
      and
      (e) any items described on Schedule
      5.29,
      there
      are no contracts with or commitments to present or former stockholders who
      own
      or owned more than 1% of the BANK Common Stock, directors, officers or employees
      (or their Related Interests) involving the expenditure of more than $1,000
      as to
      any one individual (including any business directly or indirectly controlled
      by
      any such person), or more than $5,000 for all such contracts for commitments
      in
      the aggregate for all such individuals.

     

    5.30  Deposits. 
      Except
      as
      set forth on Schedule
      5.30,
      none of
      the deposits of BANK are “brokered” deposits or are subject to any encumbrance,
      legal restraint or other legal process (other than garnishments, pledges, set
      off rights, limitations applicable to public deposits, escrow limitations and
      similar actions taken in the ordinary course of business), and no portion of
      deposits of BANK represents a deposit of any Affiliate of BANK.

     

    5.31  Accounting
      Controls. 
      Each
      of
      the BANK Companies has devised and maintained systems of internal accounting
      control sufficient to provide reasonable assurances that: (i) all material
      transactions are executed in accordance with general or specific authorization
      of the Board of Directors and the duly authorized executive officers of the
      applicable BANK Company; (ii) all material transactions are recorded as
      necessary to permit the preparation of financial statements in conformity with
      GAAP with respect to the applicable BANK Company or any other criteria
      applicable to such financial statements, and to maintain proper accountability
      for items therein; (iii) access to the material properties and assets of
      each of the BANK Companies is permitted only in accordance with general or
      specific authorization of the Board of Directors and the duly authorized
      executive officers; and (iv) the recorded accountability for items is
      compared with the actual levels at reasonable intervals and appropriate actions
      taken with respect to any differences.

     

    5.32  Deposit
      Insurance. 
      The
      deposit accounts of BANK are insured by the FDIC in accordance with the
      provisions of the Federal Deposit Insurance Act (the “Act”). BANK has paid all
      regular premiums and special assessments and filed all reports required under
      the Act.

     

    5.33  Registration
      Obligations. 
      BANK
      is
      not under any obligation, contingent or otherwise, which will survive the Merger
      to register its securities under the 1933 Act or any state securities
      laws.

     

    5.34 Charter
      Provisions.  Each
      BANK
      Company has taken all action so that the entering into of this Agreement and
      the
      consummation of the Merger and the other transactions contemplated by this
      Agreement do not and will not result in the grant of any rights to any Person
      under the Articles of Incorporation, Bylaws, or other governing instruments
      of
      any BANK Company or restrict or impair the ability of TIB or any of its
      Subsidiaries to vote, or otherwise to exercise the rights of a stockholder
      with
      respect to, shares of any BANK Company that may be directly or indirectly
      acquired or controlled by it. 

     

     

    ARTICLE
      6

    REPRESENTATIONS
      AND WARRANTIES OF TIB

     

     

    TIB
      hereby represents and warrants to BANK as follows:

     

    6.1  Organization,
      Standing and Power. 
      TIB
      is a
      corporation duly organized, validly existing, and in good standing under the
      Laws of the State of Florida, and has the corporate power and authority to
      carry
      on its business as now conducted and to own, lease and operate its Assets and
      to
      incur its Liabilities. TIB is duly qualified or licensed to transact business
      as
      a foreign corporation in good standing in the states of the United States and
      foreign jurisdictions where the character of its Assets or the nature or conduct
      of its business requires it to be so qualified or licensed, except for such
      jurisdictions in which the failure to be so qualified or licensed is not
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect on TIB.

     

    6.2  Authority;
      No Breach By Agreement. 

     

    (a) TIB
      has
      the corporate power and authority necessary to execute, deliver and perform
      its
      obligations under this Agreement and to consummate the transactions provided
      for
      herein. The execution, delivery and performance of this Agreement and the
      consummation of the transactions provided for herein, including the Merger,
      have
      been, or prior to the Effective Time will be, duly and validly authorized by
      all
      necessary corporate action on the part of TIB. Subject to required regulatory
      consents, this Agreement represents a legal, valid and binding obligation of
      TIB, enforceable against TIB in accordance with its terms. 

     

    (b) Neither
      the execution and delivery of this Agreement by TIB, nor the consummation by
      TIB
      of the transactions provided for herein, nor compliance by TIB with any of
      the
      provisions hereof, will (i) conflict with or result in a breach of any
      provision of TIB’s Restated Certificate of Incorporation or Bylaws, or
      (ii) except as set forth on Schedule 6.2(b),
      constitute or result in a Default under, or require any Consent pursuant to,
      or
      result in the creation of any Lien on any Asset of any TIB Company under, any
      Contract or Permit of any TIB Company, where failure to obtain such Consent
      is
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect on TIB, or, (iii) subject to receipt of the requisite approvals
      referred to in subsection 9.1(b) of this Agreement, violate any Law or Order
      applicable to any TIB Company or any of their respective Assets.

     

    (c) Other
      than in connection or compliance with the provisions of the Securities Laws,
      applicable state corporate and securities Laws, and rules of the NASD, and
      other
      than Consents required from Regulatory Authorities, and other than notices
      to or
      filings with the Internal Revenue Service or the Pension Benefit Guaranty
      Corporation with respect to any employee benefit plans, and other than Consents,
      filings or notifications which, if not obtained or made, are not reasonably
      likely to have, individually or in the aggregate, a Material Adverse Effect
      on
      TIB, no notice to, filing with or Consent of, any public body or authority
      is
      necessary for the consummation by TIB of the Merger and the other transactions
      provided for in this Agreement.

     

    6.3  Capital
      Stock. 
      The
      authorized capital stock of TIB, as of the date of this Agreement, consists
      of
      (i) 40,000,000 shares of TIB Common Stock, of which 11,715,744 shares are
      issued and outstanding, and (ii) 5,000,000 shares of preferred stock, no
      par value per share, none of which is issued and outstanding. All of the issued
      and outstanding shares of TIB Common Stock are, and all of the shares of TIB
      Common Stock to be issued in exchange for shares of BANK Common Stock upon
      consummation of the Merger, when issued in accordance with the terms of this
      Agreement, will be, duly and validly issued and outstanding and fully paid
      and
      non-assessable under the FBCA. None of the outstanding shares of TIB Common
      Stock has been, and none of the shares of TIB Common Stock to be issued in
      exchange for shares of BANK Common Stock upon consummation of the Merger will
      be, issued in violation of any preemptive rights of the current or past
      stockholders of TIB. As of the date hereof, TIB has granted options to purchase
      716,458 shares of TIB Common Stock, and granted 70,012 restricted shares of
      TIB
      Common Stock, under its various stock plans. 

     

    6.4  Reports
      and Financial Statements. 
      Since
      January 1, 2002, or the date of organization or acquisition if later, each
      TIB Company has filed all reports and statements, together with any amendments
      required to be made with respect thereto, that it was required to file with
      (i) the SEC, including, but not limited to, Forms 10-K, Forms 10-Q, Forms
      8-K, and proxy statements, (ii) other Regulatory Authorities, and
      (iii) any applicable state securities or banking authorities. As of their
      respective dates, each of such reports and documents, including the TIB
      Financial Statements, exhibits, and schedules thereto, complied in all material
      respects with all applicable Laws. As of its respective date, each such report
      and document did not contain any untrue statement of a material fact or omit
      to
      state a material fact required to be stated therein or necessary to make the
      statements made therein, in light of the circumstances under which they were
      made, not misleading. Since January 1, 2002, except for normal examinations
      conducted by Regulatory Authorities in the regular course of the business of
      the
      TIB Companies, to the Knowledge of any TIB Company, no Regulatory Authority
      has
      initiated any proceeding or, to the Knowledge of any TIB Company, investigation
      into the business or operations of any TIB Company. There is no unresolved
      violation, criticism or exception by any Regulatory Authority with respect
      to
      any report or statement or any examinations of any TIB Company or any liens
      in
      favor of any TIB Company. The TIB Financial Statements included in such reports
      (excluding call reports), as of the dates thereof and for the periods covered
      thereby: (i) are or if dated after the date of this Agreement, will be, in
      accordance with the books and records of the TIB Companies, which are or will
      be, as the case may be, complete and correct and which have been or will have
      been, as the case may be, maintained in accordance with good business practices,
      and (ii) present, or will present, fairly the consolidated financial
      position of the TIB Companies as of the dates indicated and the consolidated
      results of operations, changes in stockholders’ equity, and cash flows of the
      TIB Companies for the periods indicated, in accordance with GAAP (subject to
      exceptions as to consistency specified therein or as may be indicated in the
      notes thereto or, in the case of interim financial statements, to normal
      year-end adjustments that are not material).

     

    6.5  Absence
      of Undisclosed Liabilities. 
      No
      TIB
      Company has any Liabilities that are reasonably likely to have, individually
      or
      in the aggregate, a Material Adverse Effect on TIB, except Liabilities accrued
      or reserved against in the consolidated balance sheets of TIB as of December
      31,
      2005, included in the TIB Financial Statements or reflected in the notes
      thereto. No TIB Company has incurred or paid any Liability since December 31,
      2005, except for such Liabilities incurred or paid in the ordinary course of
      business consistent with past business practice and which are not reasonably
      likely to have, individually or in the aggregate, a Material Adverse Effect
      on
      TIB.

     

    6.6  Absence
      of Certain Changes or Events. 
      Except
      as
      set forth on Schedule 6.6,
      since
      December 31, 2005 (i) there have been no events, changes or occurrences
      that have had, or are reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on TIB, (ii) the TIB Companies have
      not taken any action, or failed to take any action, prior to the date of this
      Agreement, which action or failure, if taken after the date of this Agreement,
      would represent or result in a material breach or violation of any of the
      covenants and agreements of TIB provided in Article 7 of this Agreement, and
      (iii) to TIB’s Knowledge, no fact or condition exists which TIB believes
      will cause a Material Adverse Effect on TIB in the future, subject to changes
      in
      general economic or industry conditions.

     

    6.7  Compliance
      with Laws. 
      TIB
      is
      duly registered as a bank holding company under the BHC Act. Each TIB Company
      has in effect all Permits necessary for it to own, lease or operate its Assets
      and to carry on its business as now conducted, except for those Permits the
      absence of which are not reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on TIB, and there has occurred no Default
      under any such Permit. None of the TIB Companies:

     

    (a)  is
      in
      material violation of any Laws, Orders or Permits applicable to its business
      or
      employees conducting its business; or

     

    (b)  has
      received any notification or communication from any agency or department of
      federal, state or local government or any Regulatory Authority or the staff
      thereof (i) asserting that any TIB Company is not in compliance with any of
      the Laws or Orders that such governmental authority or Regulatory Authority
      enforces, (ii) threatening to revoke any Permits, or (iii) requiring
      any TIB Company to enter into or consent to the issuance of a cease and desist
      order, formal agreement, directive, commitment or memorandum of understanding,
      or to adopt any board resolution or similar undertaking, that restricts
      materially the conduct of its business, or in any manner relates to its capital
      adequacy, its credit or reserve policies, its management or the payment of
      dividends.

     

    6.8  Legal
      Proceedings. 
      Except
      as
      set forth on Schedule
      6.8,
      there
      is no Litigation instituted or pending, or, to the Knowledge of TIB, threatened
      (or unasserted but considered probable of assertion) against any TIB Company,
      or
      against any Asset, interest, or right of any of them, that is reasonably likely
      to have, individually or in the aggregate, a Material Adverse Effect on TIB,
      nor
      are there any Orders of any Regulatory Authorities, other governmental
      authorities or arbitrators outstanding against any TIB Company, that are
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect on TIB.

     

    6.9  Statements
      True and Correct. 
      No
      statement, certificate, instrument or other writing furnished or to be furnished
      by any TIB Company or any Affiliate thereof to BANK pursuant to this Agreement,
      including the Exhibits or Schedules hereto, contains or will contain any untrue
      statement of material fact or will omit to state a material fact necessary
      to
      make the statements therein, in light of the circumstances under which they
      were
      made, not misleading. None of the information supplied or to be supplied by
      any
      TIB Company or any Affiliate thereof for inclusion in the Proxy
      Statement/Prospectus to be mailed to BANK’s stockholders in connection with the
      BANK Stockholders’ Meeting, and any other documents to be filed by an TIB
      Company or any Affiliate thereof with the SEC or any other Regulatory Authority
      in connection with the transactions provided for herein, will, at the respective
      time such documents are filed, and with respect to the Proxy
      Statement/Prospectus, when first mailed to the stockholders of BANK, be false
      or
      misleading with respect to any material fact, or omit to state any material
      fact
      necessary to make the statements therein, in light of the circumstances under
      which they were made, not misleading. All documents that any TIB Company or
      any
      Affiliate thereof is responsible for filing with any Regulatory Authority in
      connection with the transactions provided for herein will comply as to form
      in
      all material respects with the provisions of applicable Law.

     

    6.10  Tax
      and Regulatory Matters. 
      No
      TIB
      Company or any Affiliate thereof has taken any action or has any Knowledge
      of
      any fact or circumstance that is reasonably likely to (i) prevent the
      transactions contemplated hereby, including the Merger, from qualifying as
      a
      reorganization within the meaning of Section 368(a) of the IRC, or
      (ii) materially impede or delay receipt of any Consents of Regulatory
      Authorities referred to in subsection 9.1(b) of this Agreement or result in
      the
      imposition of a condition or restriction of the type referred to in the last
      sentence of such subsection.

     

    6.11  Regulatory
      Approvals. 
      TIB
      knows
      of no reason why all requisite regulatory approvals regarding the Merger should
      not or cannot be obtained.

     

    6.12  Opinion
      of Counsel.
      TIB has
      no Knowledge of any facts that would preclude issuance of the opinion of counsel
      referred to in subsection 9.3(d).

     

     

    ARTICLE
      7

    CONDUCT
      OF BUSINESS PENDING CONSUMMATION

     

    7.1  Covenants
      of Both Parties. 

     

    (a)  Unless
      the prior written consent of the other Party shall have been obtained, and
      except as otherwise expressly provided for herein, each Party shall and shall
      cause each of its Subsidiaries to (i) conduct its business in the usual, regular
      and ordinary course consistent with past practice and prudent banking
      principles, (ii) preserve intact its business organization, goodwill,
      relationships with depositors, customers and employees, and Assets and maintain
      its rights and franchises, and (iii) take no action, except as required by
      applicable Law, which would (A) adversely affect the ability of any Party
      to obtain any Consents required for the transactions provided for herein without
      imposition of a condition or restriction of the type referred to in the last
      sentences of subsections 9.1(b) or 9.1(c) of this Agreement or
      (B) adversely affect the ability of any Party to perform its covenants and
      agreements under this Agreement.

     

    (b)  During
      the period from the date of this Agreement to the Effective Time, each of TIB
      and BANK shall cause its Designated Representative (and, if necessary,
      representatives of any of its Subsidiaries) to confer on a regular and frequent
      basis with the Designated Representative of the other Party hereto and to report
      on the general status of its and its Subsidiaries’ ongoing operations. Each of
      TIB and BANK shall permit the other Party hereto to make such investigation
      of
      its business or properties and its Subsidiaries and of their respective
      financial and legal conditions as the investigating Party may reasonably
      request. Each of TIB and BANK shall promptly notify the other Party hereto
      concerning (a) any material change in the normal course of its or any of
      its Subsidiaries’ businesses or in the operation of their respective properties
      or in their respective conditions; (b) any material governmental
      complaints, investigations or hearings (or communications indicating that the
      same may be contemplated) or the institution or the threat of any material
      Litigation involving it or any of its Subsidiaries; and (c) the occurrence
      or impending occurrence of any event or circumstance that would cause or
      constitute a breach of any of the representations, warranties or covenants
      contained herein; and each of TIB and BANK shall, and shall cause each of their
      respective Subsidiaries to, use its commercially reasonable efforts to prevent
      or promptly respond to same.

     

    (c)  Each
      Party shall have the right, without being in breach of its representations
      and
      warranties set forth in this Agreement, to supplement or amend its disclosure
      schedules and to add additional references to its disclosure schedules
      concerning the representations and warranties contained in this Agreement,
      with
      respect to any matter arising after the date of this Agreement or discovered
      between such date and the Effective Time. A copy of such supplemented or amended
      disclosure schedules shall be provided promptly to the other Party. Any such
      supplemented or amended disclosure schedules shall not give the other Party
      the
      right not to proceed with the consummation of the Merger unless the facts
      underlying such supplemented or amended disclosures would be reasonably likely
      to result in a Material Adverse Effect.

     

    7.2  Covenants
      of BANK. 
      From
      the
      date of this Agreement until the earlier of the Effective Time or the
      termination of this Agreement, BANK covenants and agrees that it will not do
      or
      agree or commit to do, or permit any of its Subsidiaries to do or agree or
      commit to do, any of the following without the prior written consent of the
      chief executive officer, president or chief financial officer of TIB, which
      consent shall not be unreasonably withheld, except in connection with the
      actions referenced in sub-sections (ii), (iv) or (v), in which case such consent
      may be withheld for any reason or no reason:

     

    (i)    amend
      the
      Articles of Incorporation, Bylaws or other governing instruments of any BANK
      Company; or

     

    (ii)   incur
      any
      additional debt obligation or other obligation for borrowed money except in
      the
      ordinary course of the business of BANK Subsidiaries consistent with past
      practices (which shall include, for BANK Subsidiaries that are depository
      institutions, creation of deposit liabilities, qualification as a public
      depository, purchases of federal funds, sales of certificates of deposit,
      advances from the FRB or the Federal Home Loan Bank, entry into repurchase
      agreements fully secured by U.S. government or agency securities and issuances
      of letters of credit), or impose, or suffer the imposition, on any share of
      stock held by any BANK Company of any Lien or permit any such Lien to exist;
      or

     

    (iii)   repurchase,
      redeem or otherwise acquire or exchange, directly or indirectly, any shares,
      or
      any securities convertible into any shares, of the capital stock of any BANK
      Company, except in connection with the surrender of shares of BANK Common Stock
      in payment of the exercise price of outstanding options to purchase BANK Common
      Stock or the deemed acquisition of shares upon a “cashless exercise” of any such
      option, or declare or pay any dividend or make any other distribution in respect
      of BANK’s capital stock; or

     

    (iv)    except
      for this Agreement and as required upon exercise of any of the BANK Options,
      issue, sell, pledge, encumber, enter into any Contract to issue, sell, pledge,
      or encumber, authorize the issuance of, or otherwise permit to become
      outstanding, any additional shares of BANK Common Stock or any other capital
      stock of any BANK Company, or any stock appreciation rights, or any option,
      warrant, conversion or other right to acquire any such stock, or any security
      convertible into any shares of such stock; or

     

    (v)     adjust,
      split, combine or reclassify any capital stock of any BANK Company or issue
      or
      authorize the issuance of any other securities with respect to or in
      substitution for shares of its capital stock or sell, lease, mortgage or
      otherwise encumber any shares of capital stock of any BANK Subsidiary or any
      Asset other than in the ordinary course of business for reasonable and adequate
      consideration; or

     

    (vi)    acquire
      any direct or indirect equity interest in any Person, other than in connection
      with foreclosures in the ordinary course of business; or

     

    (vii)    grant
      any
      increase in compensation or benefits to the employees or officers of any BANK
      Company, except in accordance with past practices with respect to employees;
      pay
      any bonus except in accordance with past practices and pursuant to the
      provisions of an applicable program or plan adopted by the BANK Board prior
      to
      the date of this Agreement; enter into or amend any severance agreements with
      officers of any BANK Company; grant any material increase in fees or other
      increases in compensation or other benefits to directors of any BANK Company;
      provided,
      however,
      that
      the foregoing shall not preclude the BANK from adjusting the compensation and
      benefits of any employee promoted to an additional position within the BANK;
      or

     

    (viii)    enter
      into or amend any employment Contract between any BANK Company and any Person
      (unless such amendment is required by Law) that the BANK Company does not have
      the unconditional right to terminate without Liability (other than Liability
      for
      services already rendered), at any time on or after the Effective Time;
      or

     

    (ix)   adopt
      any
      new employee benefit plan of any BANK Company or make any material change in
      or
      to any existing employee benefit plans of any BANK Company other than any such
      change that is required by Law or that, in the opinion of counsel, is necessary
      or advisable to maintain the tax qualified status of any such plan;
      or

     

    (x)    make
      any
      material change in any accounting methods or systems of internal accounting
      controls, except as may be appropriate to conform to changes in regulatory
      accounting requirements or GAAP; or

     

    (xi)    (A) commence
      any Litigation other than in accordance with past practice, (B) settle any
      Litigation involving any Liability of any BANK Company for material money
      damages or restrictions upon the operations of any BANK Company, or,
      (C) except in the ordinary course of business, modify, amend or terminate
      any material Contract or waive, release, compromise or assign any material
      rights or claims; or

     

    (xii)    enter
      into any material transaction or course of conduct not in the ordinary course
      of
      business, or not consistent with safe and sound banking practices, or not
      consistent with applicable Laws; or

     

    (xiii)   fail
      to
      file timely any report required to be filed by it with any Regulatory Authority;
      or

     

    (xiv)    make
      any
      Loan or advance to any 5% stockholder, director or officer of BANK, or any
      member of the immediate family of the foregoing, or any Related Interest (to
      the
      Knowledge of BANK) of any of the foregoing, except in compliance with the
      provisions of FRB Regulation O, or

     

    (xv)     cancel
      without payment in full, or modify in any material respect any Contract relating
      to, any loan or other obligation receivable from any 5% stockholder, director
      or
      officer of any BANK Company or any member of the immediate family of the
      foregoing, or any Related Interest (to the Knowledge of BANK or any of its
      Subsidiaries) of any of the foregoing; or

     

    (xvi)    enter
      into any Contract for services or otherwise with any of the 5% stockholders,
      directors, officers or employees of any BANK Company or any member of the
      immediate family of the foregoing, or any Related Interest (Known to BANK or
      any
      of its Subsidiaries) of any of the foregoing involving the expenditure of more
      than $1,000 as to any one individual (including any business directly or
      indirectly controlled by any such person), or more than $5,000 for all such
      contracts for commitments in the aggregate for all such individuals;
      or

     

    (xvii)    modify,
      amend or terminate any material Contract or waive, release, compromise or assign
      any material rights or claims, except in the ordinary course of business and
      for
      fair consideration; or

     

    (xviii)   file
      any
      application to relocate or terminate the operations of any banking office of
      it
      or any of its Subsidiaries; or

     

    (xix)    except
      as
      may be required by applicable Law, change its or any of its Subsidiaries’
lending, investment, liability management and other material banking policies
      in
      any material respect; or

     

    (xx)     intentionally
      take any action that would reasonably be expected to jeopardize or delay the
      receipt of any of the regulatory approvals required in order to consummate
      the
      transactions provided for in this Agreement; or

     

    (xxi)    take
      any
      action that would cause the transactions provided for in this Agreement to
      be
      subject to requirements imposed by any Takeover Law; and BANK shall take all
      necessary steps within its control to exempt (or ensure the continued exemption
      of) the transactions provided for in this Agreement from, or if necessary
      challenge the validity or applicability of, any applicable Takeover Law, as
      now
      or hereafter in effect; or

     

    (xxii)    make
      or
      renew any Loan except in accordance with BANK’s established policies and
      procedures and limits in effect as of the date of this Agreement;
      or

     

    (xxiii)   increase
      or decrease the rate of interest paid on time deposits or on certificates of
      deposit, except in a manner and pursuant to policies consistent with BANK and
      BANK’s past policies; or

     

    (xxiv)   purchase
      or otherwise acquire any investment securities for its own account having an
      average remaining life to maturity greater than five years (except for municipal
      bonds of any maturity after consultation by a Designated Representative of
      BANK
      with a Designated Representative of TIB), or any asset-backed security, other
      than those issued or guaranteed by the Government National Mortgage Association,
      the Federal National Mortgage Association or Home Loan Mortgage Corporation;
      or

     

    (xxv)    except
      for residential real property owned by and reflected on the books of BANK as
      of
      the date hereof, the sale of which will not result in a material loss, sell,
      transfer, convey or otherwise dispose of any real property (including “other
      real estate owned”) or interests therein having a book value in excess of or in
      exchange for consideration in excess of $50,000;

     

    (xxvi)    make
      any
      capital expenditures individually in excess of $25,000, or in the aggregate
      in
      excess of $50,000, without providing notice of such expenditures to a Designated
      Representative of TIB within five (5) days after incurring such expenditures;
      or

     

    (xxvii)   make,
      declare, pay or set aside for payment any dividend payable in cash, stock or
      property on or in respect of, or declare or make any distribution on any shares
      of capital stock, or directly or indirectly adjust, split, combine, reclassify,
      redeem, purchase or otherwise acquire any shares of its capital
      stock

     

    7.3  Covenants
      of TIB. 
      From
      the
      date of this Agreement until the earlier of the Effective Time or the
      termination of this Agreement, TIB covenants and agrees that it will not do
      or
      agree or commit to do, or permit any of its Subsidiaries to do or agree or
      commit to do, any of the following without the prior written consent of the
      chief executive officer, president or chief financial officer of BANK, which
      consent shall not be unreasonably withheld:

     

    (a)  fail
      to
      file timely any report required to be filed by it with Regulatory Authorities,
      including the SEC; or

     

    (b)  take
      any
      action that would cause the TIB Common Stock to cease to be traded on the NASDAQ
      or a national securities exchange.

     

    7.4  Adverse
      Changes in Condition. 
      Each
      Party agrees to give written notice promptly to the other Party upon becoming
      aware of the occurrence or impending occurrence of any event or circumstance
      relating to it or any of its Subsidiaries that (i) is reasonably likely to
      have, individually or in the aggregate, a Material Adverse Effect on it or
      (ii) would cause or constitute a material breach of any of its
      representations, warranties or covenants contained herein, and to use its
      commercially reasonable efforts to prevent or promptly to remedy the
      same.

     

    7.5  Reports. 
      Each
      Party and its Subsidiaries shall file all reports required to be filed by it
      with Regulatory Authorities between the date of this Agreement and the Effective
      Time, and BANK shall deliver to TIB copies of all such reports filed by BANK
      or
      its Subsidiaries promptly after the same are filed.

     

    7.6  Acquisition
      Proposals. 

     

    (a) As
      of the
      date hereof, BANK shall not, nor shall it permit any of its Subsidiaries to,
      nor
      shall it or its Subsidiaries authorize or permit any of their respective
      officers, directors, employees, representatives or agents to, directly or
      indirectly, (i) solicit, initiate or knowingly encourage (including by way
      of furnishing non-public information) any inquiries regarding, or the making
      of
      any proposal which constitutes, any Acquisition Proposal, (ii) enter into
      any letter of intent or agreement related to any Acquisition Proposal other
      than
      a confidentiality agreement (each, an “Acquisition Agreement”) or
      (iii) participate in any discussions or negotiations regarding, or take any
      other action knowingly to facilitate any inquiries or the making of any proposal
      that constitutes, or that would reasonably be expected to lead to, any
      Acquisition Proposal; provided,
      however,
      that
      if, at any time prior to the BANK Stockholders’ Meeting, and without any breach
      of the terms of this Section 7.6(a), BANK receives an Acquisition Proposal
      from
      any Person that in the good faith judgment of the BANK Board (after receiving
      the advice of its legal and financial advisors (who shall be a nationally
      recognized investment banking firm)) is, or is reasonably likely to lead to
      the
      delivery of, a Superior Proposal, BANK may (x) furnish information
      (including non-public information) with respect to BANK to any such Person
      pursuant to a confidentiality agreement containing confidentiality provisions
      no
      more favorable to such Person than those in the Confidentiality Agreement
      between TIB and BANK dated January 23, 2006, and (y) participate in
      negotiations with such Person regarding such Acquisition Proposal. Neither
      the
      BANK Board nor any committee thereof shall (i) withdraw or modify, or propose
      to
      withdraw or modify, in a manner adverse to TIB, the approval or recommendation
      by the BANK Board, or such committee thereof, of the Merger or this Agreement;
      (ii) approve or recommend, or propose to approve or recommend, any
      Acquisition Proposal; or (iii) authorize or permit BANK or any of its
      Subsidiaries to enter into any Acquisition Agreement. Notwithstanding the
      foregoing, upon satisfaction of the notice, matching, payment and other
      requirements and procedures of Section 10.1(k) of this Agreement, the BANK
      Board
      may approve or recommend (and, in connection therewith, withdraw or modify
      its
      approval or recommendation of this Agreement or the Merger) a Superior
      Proposal.

     

    (b) BANK
      agrees that it and its Subsidiaries shall, and BANK shall direct its and its
      Subsidiaries’ respective officers, directors, employees, representatives and
      agents to, immediately cease and cause to be terminated any activities,
      discussions or negotiations with any Persons with respect to any Acquisition
      Proposal. BANK agrees that it will notify TIB promptly (but no later than 24
      hours) if, to BANK’s Knowledge, any Acquisition Proposal is received by, any
      information is requested from, or any discussions or negotiations relating
      to an
      Acquisition Proposal are sought to be initiated or continued with, BANK, its
      Subsidiaries, or their officers, directors, employees, representatives or
      agents. The notice shall indicate the name of the Person making such Acquisition
      Proposal or taking such action and the material terms and conditions of any
      proposals or offers, and thereafter BANK shall keep TIB informed, on a current
      basis, of the status and terms of any such proposals or offers and the status
      of
      any such discussions or negotiations. BANK also agrees that it will promptly
      request each Person that has heretofore executed a confidentiality agreement
      in
      connection with any Acquisition Proposal to return or destroy all confidential
      information heretofore furnished to such Person by or on behalf of it or any
      of
      its Subsidiaries. 

     

    7.7  NASDAQ
      Qualification. 
      TIB
      shall,
      prior to the Effective Time, take commercially reasonable steps to ensure that
      all TIB Common Stock to be issued in the Merger is designated as a NASDAQ
“national market system security” within the meaning of Rule 11Aa2-1 of the SEC.

     

     

    ARTICLE
      8

    ADDITIONAL
      AGREEMENTS

     

         
8.1  Regulatory
      Matters. 

     

    (a)  TIB
      shall
      promptly prepare and file the S-4 Registration Statement with the SEC after
      the
      date hereof. BANK and its counsel, accountants and advisors shall have the
      right
      to review and comment upon the Registration Statement, and revisions made in
      response to such comments, a reasonable period prior to filing. TIB shall use
      its commercially reasonable efforts to have the S-4 Registration Statement
      declared effective under the 1933 Act as promptly as practicable after such
      filing. Once the S-4 Registration Statement has been declared effective by
      the
      SEC, BANK shall mail the Proxy Statement/Prospectus to its stockholders
      simultaneously with delivery of notice of the meeting of stockholders called
      to
      approve the Merger. If at any time prior to the Effective Time of the Merger
      any
      event shall occur which should be set forth in an amendment of, or a supplement
      to, the Proxy Statement/Prospectus, BANK will promptly inform TIB and cooperate
      and assist TIB in preparing such amendment or supplement and mailing the same
      to
      the stockholders of BANK. Subject to Section 10.1(k) of this Agreement, the
      BANK
      Board shall recommend that the holders of BANK Common Stock vote for and adopt
      the Merger provided for in the Proxy Statement/Prospectus and this
      Agreement.

     

    (b)  The
      Parties shall cooperate with each other and use their commercially reasonable
      efforts to promptly prepare and file all necessary documentation, to effect
      all
      applications, notices, petitions and filings and to obtain as promptly as
      practicable all Consents of all third parties and Regulatory Authorities which
      are necessary or advisable to consummate the transactions provided for in this
      Agreement, including without limitation the Merger and the Subsidiary Merger.
      TIB and BANK shall have the right to review in advance, and to the extent
      practicable each will consult the other on, in each case subject to applicable
      Laws relating to the exchange of information, all the information relating
      to
      TIB or BANK, as the case may be, and any of their respective Subsidiaries,
      which
      appear in any filing made with, or written materials submitted to, any third
      party or any Regulatory Authority in connection with the transactions provided
      for in this Agreement. In exercising the foregoing right, each of the Parties
      shall act reasonably and as promptly as practicable. The Parties agree that
      they
      will consult with each other with respect to the obtaining of all Permits and
      Consents, approvals and authorizations of all third parties and Regulatory
      Authorities necessary or advisable to consummate the transactions provided
      for
      in this Agreement, and each Party will keep the other apprised of the status
      of
      matters relating to completion of the transactions provided for in this
      Agreement.

     

    (c)  TIB
      and
      BANK shall, upon request, furnish each other all information concerning
      themselves, their Subsidiaries, directors, officers and stockholders and such
      other matters that may be reasonably necessary or advisable in connection with
      the Proxy Statement/Prospectus, the S-4 Registration Statement or any other
      statement, filing, notice or application made by or on behalf of TIB, BANK
      or
      any of their Subsidiaries to any Regulatory Authority in connection with the
      Merger and the other transactions provided for in this Agreement.

     

    (d)  TIB
      and
      BANK shall promptly furnish each other with copies of all applications, notices,
      petitions and filings with all Regulatory Authorities, and all written
      communications received by TIB or BANK, as the case may be, or any of their
      respective Subsidiaries, Affiliates or associates from, or delivered by any
      of
      the foregoing to, any Regulatory Authority, in respect of the transactions
      provided for herein.

     

    (e)  TIB
      will
      indemnify and hold harmless BANK and its officers, directors and employees
      from
      and against any and all actions, causes of actions, losses, damages, expenses
      or
      Liabilities to which any such entity, or any director, officer, employee or
      controlling person thereof, may become subject under applicable Laws (including
      the 1933 Act and the 1934 Act) and rules and regulations thereunder and will
      reimburse BANK, and any such director, officer, employee or controlling person
      for any legal or other expenses reasonably incurred in connection with
      investigating or defending any actions, whether or not resulting in liability,
      insofar as such losses, damages, expenses, liabilities or actions arise out
      of
      or are based upon any untrue statement or alleged untrue statement of a material
      fact contained in the Registration Statement, Proxy Statement/Prospectus or
      any
      application, notice, petition, or filing with any Regulatory Authority or arise
      out of or are based upon the omission or alleged omission to state therein
      a
      material fact required to be stated therein, or necessary in order to make
      the
      statement therein not misleading, but only insofar as any such statement or
      omission was made in reliance upon and in conformity with information furnished
      in writing in connection therewith by any TIB Company. 

     

    (f)  BANK
      will
      indemnify and hold harmless TIB and its officers, directors and employees from
      and against any and all actions, causes of actions, losses, damages, expenses
      or
      Liabilities to which any such entity, or any director, officer, employee or
      controlling person thereof, may become subject under applicable Laws (including
      the 1933 Act and the 1934 Act) and rules and regulations thereunder and will
      reimburse TIB, and any such director, officer, employee or controlling person
      for any legal or other expenses reasonably incurred in connection with
      investigating or defending any actions, whether or not resulting in liability,
      insofar as such losses, damages, expenses, liabilities or actions arise out
      of
      or are based upon any untrue statement or alleged untrue statement of a material
      fact contained in the Registration Statement, Proxy Statement/Prospectus or
      any
      application, notice, petition, or filing with any Regulatory Authority or arise
      out of or are based upon the omission or alleged omission to state therein
      a
      material fact required to be stated therein, or necessary in order to make
      the
      statement therein not misleading, but only insofar as any such statement or
      omission was made in reliance upon and in conformity with information furnished
      in writing in connection therewith by any BANK Company. 

     

    8.2  Access
      to Information. 

     

    (a)  During
      the period beginning on the date of this Agreement and ending on the sooner
      to
      occur of the Effective Time or the termination of this Agreement in accordance
      with its terms, upon reasonable notice and subject to applicable Laws relating
      to the exchange of information, TIB and BANK shall, and shall cause each of
      their respective Subsidiaries to, afford to the officers, employees,
      accountants, counsel and other representatives of the other, access to all
      its
      properties, books, contracts, commitments and records and, during such period,
      each of TIB and BANK shall, and shall cause each of their respective
      Subsidiaries to, make available to the other (i) a copy of each report,
      schedule, registration statement and other document filed or received by it
      during such period pursuant to the requirements of the Securities Laws or
      federal or state banking Laws (other than reports or documents which such Party
      is not permitted to disclose under applicable Law, in which case such Party
      shall notify the other Party of the nondisclosure and the nature of such
      information) and (ii) also other information concerning its business,
      properties and personnel as the other party may reasonably request.

     

    (b)  All
      information furnished by TIB to BANK or its representatives pursuant hereto
      shall be treated as the sole property of TIB and, if the Merger shall not occur,
      BANK and its representatives shall return to TIB all of such written information
      and all documents, notes, summaries or other materials containing, reflecting
      or
      referring to, or derived from, such information. BANK shall, and shall use
      its
      commercially reasonable efforts to cause its representatives to, keep
      confidential all such information, and shall not directly or indirectly use
      such
      information for any competitive or other commercial purpose. The obligation
      to
      keep such information confidential shall continue for five years from the date
      the proposed Merger is abandoned and shall not apply to (i) any information
      which (x) was already in BANK’s possession prior to the disclosure thereof
      by TIB; (y) was then generally known to the public; or (z) was
      disclosed to BANK by a third party not bound by an obligation of
      confidentiality, or (ii) disclosures made as required by Law.

     

    (c)  All
      information furnished by BANK or its Subsidiaries to TIB or its representatives
      pursuant hereto shall be treated as the sole property of BANK and, if the Merger
      shall not occur, TIB and its representatives shall return to BANK all of such
      written information and all documents, notes, summaries or other materials
      containing, reflecting or referring to, or derived from, such information.
      TIB
      shall, and shall use its commercially reasonable efforts to cause its
      representatives to, keep confidential all such information, and shall not
      directly or indirectly use such information for any competitive or other
      commercial purpose. The obligation to keep such information confidential shall
      continue for five years from the date the proposed Merger is abandoned and
      shall
      not apply to (i) any information which (x) was already in TIB’s
      possession prior to the disclosure thereof by BANK or any of its Subsidiaries;
      (y) was then generally known to the public; or (z) was disclosed to
      TIB by a third party not bound by an obligation of confidentiality, or
      (ii) disclosures made as required by Law.

     

    (d)  No
      investigation by any of the parties hereto or their respective representatives
      shall affect the representations and warranties of the Parties set forth
      herein.

     

    8.3  Efforts
      to Consummate. 
      Subject
      to the terms and conditions of this Agreement, each of BANK and TIB shall use
      its commercially reasonable efforts to take, or cause to be taken, all actions,
      and to do, or cause to be done, all things necessary, proper or advisable under
      applicable Laws to consummate and make effective, as soon as practicable after
      the date of this Agreement, the transactions provided for in this Agreement,
      including without limitation obtaining of all of the Consents and satisfying
      the
      conditions contained in Article 9 hereof.

     

    8.4  BANK
      Stockholders’ Meeting. 
      BANK
      shall call a meeting of its stockholders (the “BANK Stockholders’ Meeting”) to
      be held as soon as reasonably practicable after the date the S-4 Registration
      Statement is declared effective by the SEC for the purpose of voting upon this
      Agreement and such other related matters as it deems appropriate. In connection
      with the BANK Stockholders’ Meeting, (a) BANK shall prepare with the
      assistance of TIB a notice of meeting; (b) TIB shall furnish all
      information concerning it that BANK may reasonably request in connection with
      conducting the BANK Stockholders’ Meeting; (c) TIB shall prepare and
      furnish to BANK, for printing, copying and distribution to BANK’s stockholders
      at BANK’s expense, the form of the Proxy Statement/Prospectus; (d) BANK
      shall furnish all information concerning it that TIB may reasonably request
      in
      connection with preparing the Proxy Statement/Prospectus; (e) subject to
      Section 10.1(k) of this Agreement, the BANK Board shall recommend to its
      stockholders the approval of this Agreement; and (f) BANK shall use its
      best efforts to obtain its stockholders’ approval. The Parties will use their
      commercially reasonable efforts to prepare a preliminary draft of the Proxy
      Statement/Prospectus within 30 days of the date of this Agreement, and will
      consult with one another on the form and content of the Proxy
      Statement/Prospectus (including the presentation of draft copies of such proxy
      materials to the other) prior to filing with the SEC and delivery to BANK’s
      stockholders. BANK will use its commercially reasonable efforts to deliver
      notice of the Stockholders’ Meeting and the Proxy Statement/Prospectus as soon
      as practicable after the S-4 Registration Statement has been declared effective
      by the SEC and TIB has delivered the Proxy Statement/Prospectus to BANK in
      accordance with sub-section (c) above.

     

    8.5  Certificate
      of Objections. 
      As
      soon
      as practicable (but in no event more than three (3) business days) after the
      BANK Stockholders’ Meeting, BANK shall deliver to TIB a certificate of the
      Secretary of BANK containing the names of the stockholders of BANK that both
      (a) gave written notice prior to the taking of the vote on this Agreement
      at the BANK Stockholders’ Meeting that they dissent from the Merger, and
      (b) voted against approval of this Agreement or abstained from voting with
      respect to the approval of this Agreement (“Certificate of Objections”). The
      Certificate of Objections shall include the number of shares of BANK Common
      Stock held by each such stockholder and the mailing address of each such
      stockholder.

     

    8.6  Publicity. 
      Neither
      TIB nor BANK shall, or shall permit any of their respective Subsidiaries or
      affiliates to issue or cause the publication of any press release or other
      public announcement with respect to, or otherwise make any public disclosure
      concerning, the transactions provided for in this Agreement without the consent
      of the other Party, which consent will not be unreasonably withheld. Prior
      to
      issuing or publishing any press release or other public announcement or
      disclosure regarding the transaction contemplated by this Agreement, the
      releasing party shall provide a copy of the release or announcement to the
      other
      Party prior to the issuance, and shall provide a reasonable opportunity for
      comment. Nothing in this Section 8.6, however, shall be deemed to prohibit
      any
      Party from making any disclosure which it deems necessary or advisable, with
      the
      advice of counsel, in order to satisfy such Party’s disclosure obligations
      imposed by Law or the rules of NASDAQ. 

     

    8.7  Expenses. 
      All
      costs
      and expenses incurred in connection with the transactions provided for in this
      Agreement, including without limitation, registration fees, printing fees,
      mailing fees, attorneys’ fees, accountants’ fees, other professional fees and
      costs related to expenses of officers and directors of BANK and the BANK
      Companies, shall be paid by the party incurring such costs and expenses;
provided,
      however,
      without
      the consent of TIB, all such costs and expenses incurred by BANK shall not
      exceed $100,000, exclusive of the Advisor’s Fee payable to the BANK Financial
      Advisor in accordance with Section 5.24, the expenses contemplated by Sections
      8.12 and 9.2(f), and the adjustments contemplated by Section 8.14, of this
      Agreement. Each Party hereby agrees to and shall indemnify the other Party
      against any liability arising from any such fee or payment incurred by such
      Party. Nothing contained herein shall limit either Party’s rights under Article
      10 to recover any damages arising out of a Party’s willful breach of any
      provision of this Agreement.

     

    8.8  Failure
      to Close. 

     

    (a)  TIB
      expressly agrees to consummate the transactions provided for herein upon the
      completion of all conditions to Closing and shall not take any action reasonably
      calculated to prevent the Closing and shall not unreasonably delay any action
      reasonably required to be taken by it to facilitate the Closing.

     

    (b)  BANK
      expressly agrees to consummate the transactions provided for herein upon the
      completion of all conditions to Closing and shall not take any action reasonably
      calculated to prevent the Closing and shall not unreasonably delay any action
      reasonably required to be taken by it to facilitate the Closing.

     

    8.9  Fairness
      Opinion. 
      The
      BANK
      Board has engaged Allen C. Ewing & Co. (the “BANK Financial Advisor”) to act
      as advisor to the BANK Board during the transaction and to opine separately
      as
      to the fairness from a financial point of view of the Merger consideration
      to
      the BANK stockholders. BANK has received from the BANK Financial Advisor an
      opinion that, as of the date hereof, the consideration to be received by the
      stockholders of the BANK in the Merger is fair to the stockholders of BANK
      from
      a financial point of view. 

     

    8.10  Tax
      Treatment. 
      Each
      of
      the Parties undertakes and agrees to use its commercially reasonable efforts
      to
      cause the Merger, and to take no action which would cause the Merger not to
      qualify as a “reorganization” within the meaning of Section 368(a) of the IRC
      for federal income tax purposes.

     

    8.11  Agreement
      of Affiliates. 
      BANK
      has
      disclosed on Schedule
      8.11
      each
      Person whom it reasonably believes is an “affiliate” of BANK for purposes of
      Rule 145 under the 1933 Act. BANK shall cause each such Person to deliver to
      TIB
      not later than 30 days after the date of this Agreement a written agreement,
      substantially in the form of Exhibit D
      providing that such Person will not sell, pledge, transfer, or otherwise dispose
      of the shares of BANK Common Stock held by such Person except as contemplated
      by
      such agreement or by this Agreement and will not sell, pledge, transfer, or
      otherwise dispose of the shares of TIB Common Stock to be received by such
      Person upon consummation of the Merger, except in compliance with applicable
      provisions of the 1933 Act and the rules and regulations thereunder (and TIB
      shall be entitled to place restrictive legends upon certificates for shares
      of
      TIB Common Stock issued to affiliates of BANK pursuant to this Agreement to
      enforce the provisions of this Section 8.11). TIB shall not be required to
      maintain the effectiveness of the Registration Statement under the 1933 Act
      for
      the purposes of resale of TIB Common Stock by such affiliates.

     

    8.12  Environmental
      Audit; Title Policy; Survey. 

     

    (a)  At
      the
      election of TIB, BANK will procure and deliver, at TIB’s expense, with respect
      to each parcel of real property that any of the BANK Companies owns, leases,
      subleases or is obligated to purchase, at least thirty (30) days prior to the
      Effective Time, such environmental audits as TIB may request, which audits
      shall
      be reasonably acceptable to and shall be conducted by a firm reasonably
      acceptable to TIB. 

     

    (b)  At
      the
      election of TIB, BANK will, at TIB’s expense, with respect to each parcel of
      real property that BANK owns, leases, subleases or is obligated to purchase,
      procure and deliver to TIB, at least thirty (30) days prior to the Effective
      Time, a commitment to issue title insurance in such amounts and by such
      insurance company reasonably acceptable to TIB, which policy shall be free
      of
      all material Liens and exceptions to TIB’s reasonable satisfaction.

     

    (c)  At
      the
      election of TIB, with respect to each parcel of real property as to which a
      title insurance policy is to be procured pursuant to subsection (b) above,
      BANK,
      at TIB’s expense, will procure and deliver to TIB at least thirty (30) days
      prior to the Effective Time, a survey of such real property, which survey shall
      be reasonably acceptable to and shall be prepared by a licensed surveyor
      reasonably acceptable to TIB, disclosing the locations of all improvements,
      easements, sidewalks, roadways, utility lines and other matters customarily
      shown on such surveys and showing access affirmatively to public streets and
      roads and providing the legal description of the property in a form suitable
      for
      recording and insuring the title thereof. Such surveys shall not disclose any
      survey defect or encroachment from or onto such real property that has not
      been
      cured or insured over prior to the Effective Time. In addition, BANK shall
      deliver to TIB a complete legal description for each parcel of real estate
      or
      interest owned, leased or subleased by any BANK Company or in which any BANK
      Company has any ownership or leasehold interest. 

     

    8.13  Compliance
      Matters. 
      Prior
      to
      the Effective Time, BANK shall take, or cause to be taken, all commercially
      reasonable steps requested by TIB to cure any material deficiencies in
      regulatory compliance by BANK that have been reported to BANK by its independent
      auditors or by the Regulatory Authorities; provided,
      however,
      that
      TIB shall not be responsible for discovering such defects, shall not have any
      obligation to disclose the existence of such defects to BANK, and shall not
      have
      any liability resulting from such deficiencies or attempts to cure
      them.

     

    8.14  Conforming
      Accounting and Reserve Policies. 
      At
      the
      request of TIB, BANK shall immediately prior to Closing establish and take
      such
      charge offs, reserves and accruals as TIB reasonably shall request to conform
      BANK’s loan, accrual, capital, reserve and other accounting policies to the
      policies of TIB (collectively, the “Conforming Adjustments”).

     

    8.15  Notice
      of Deadlines. 
      Schedule
      8.15
      lists
      the deadlines for extensions or terminations of any material leases, agreements
      or licenses (including specifically real property leases and data processing
      agreements) to which BANK is a party.

     

    8.16  Fixed
      Asset Inventory. 
      At
      TIB’s
      request, at least thirty (30) days prior to the Effective Time, BANK shall
      take,
      or shall cause to be taken, an inventory of all fixed assets of the BANK
      Companies to verify the presence of all items listed on their respective
      depreciation schedules, and BANK shall allow TIB’s representatives, at the
      election of TIB, to participate in or be present for such inventory and shall
      deliver to TIB copies of all records and reports produced in connection with
      such inventory.

     

    8.17  Directors’
      and Officers’ Indemnification.

     

    (a)  From
      and
      after the Effective Time, TIB shall indemnify, defend and hold harmless each
      director, officer or employee of the BANK Companies (an “Indemnified Party”)
      against all liabilities arising out of actions or omissions occurring upon
      or
      prior to the Effective Time (including, without limitation, the transactions
      contemplated by this Agreement) to the maximum extent authorized under the
      articles of incorporation and bylaws of BANK as in effect on the date of this
      Agreement, subject to the limitations and requirements of such articles of
      incorporation and bylaws and applicable Law, including, without limitation,
      Section 607.0850 of the FBCA. From and after the Effective Time, TIB shall
      indemnify, defend and hold harmless each Indemnified Party against all
      liabilities arising out of actions or omissions occurring upon or prior to
      the
      Effective time (including without limitation the transactions contemplated
      by
      this Agreement) to the extent mandated under the articles of incorporation
      and
      bylaws of the BANK as in effect on the date of this Agreement subject to the
      limitations of applicable Law, including, without limitation, Section 607.0850
      of the FBCA.

     

    (b)  Any
      Indemnified Party wishing to claim indemnification under Section 8.17(a) above
      upon learning of any such liability or litigation, shall promptly notify TIB
      thereof. In the event of any such litigation (whether arising before or after
      the Effective Time), (i) TIB shall have the right to assume the defense
      thereof, and TIB shall not be liable to such Indemnified Parties for any legal
      expenses of other counsel or any other expenses subsequently incurred by such
      Indemnified Parties in connection with the defense thereof, except that if
      TIB
      elects not to assume such defense or counsel for the Indemnified Parties advises
      that there are substantive issues which raise conflicts of interest between
      TIB
      and the Indemnified Parties, the Indemnified Parties may retain counsel
      satisfactory to them, and TIB shall pay all reasonable fees and expenses of
      such
      counsel for the Indemnified Parties; provided, that TIB shall be obligated
      to
      pay for only one firm of counsel for all Indemnified Parties in any
      jurisdiction; (ii) the Indemnified Parties will cooperate in the defense of
      any such litigation; and (iii) TIB shall not be liable for any settlement
      effected without its prior written consent; and provided further, that TIB
      shall
      not have any obligation hereunder to any Indemnified Party when and if a court
      of competent jurisdiction shall determine, and such determination shall have
      become final, that the indemnification of such Indemnified Party in the manner
      provided for herein is prohibited by applicable Law.

     

    (c)  TIB
      shall
      use commercially reasonable efforts to cause the individuals serving as officers
      and directors of BANK or any BANK Companies immediately prior to the Effective
      Time to be covered for a period of three (3) years from the Effective Time
      by
      the directors’ and officers’ liability insurance policy maintained by BANK
      (provided that TIB may substitute therefor policies of at least the same
      coverage and amounts containing terms and conditions that are not less
      advantageous than such policy) with respect to acts or omissions occurring
      prior
      to the Effective Time that were committed (or omitted, as the case may be)
      by
      such officers and directors in their respective capacities as such.
      Notwithstanding the foregoing, TIB shall not be obligated to maintain any such
      policy to the extent that the premiums for the ensuing period exceeds by more
      than 10% the premium for the prior period. If TIB or any of its successors
      or
      assigns shall consolidate with or merge into any other entity and shall not
      be
      the continuing or surviving entity in such consolidation or merger or shall
      transfer all or substantially all of its assets to any Person, then, in such
      case, proper provision shall be made so that the successors or assigns of TIB
      shall assume the obligations set forth in this Section 8.17. The provisions
      of
      this Section 8.17 shall survive the Effective Time and are intended to be for
      the benefit of, and shall be enforceable by, each Indemnified Party and his
      or
      her heirs and representatives.

     

    8.18 Employee
      Matters. 

     

    (a) From
      and
      after the Effective Time and except for any salary continuation agreements
      that
      the BANK has entered into with any of its employees, TIB shall provide the
      employees of the BANK Companies as of the Effective Time (the “Covered
      Employees”) with employee benefits and compensation plans, programs and
      arrangements that are substantially equivalent to those provided to similarly
      situated employees of the TIB Companies.

     

    (b) From
      and
      after the Effective Time, TIB
      shall
      (i) provide all Covered Employees service credit for purposes of eligibility,
      participation, vesting and levels of benefits (excluding benefit accruals under
      any defined benefit pension plan), under any employee benefit or compensation
      plan, program or arrangement adopted, maintained or contributed to by any of
      the
      TIB Companies in which Covered Employees are eligible to participate, for all
      periods of employment with any BANK Companies prior to the Effective Time,
      (ii)
      use its best efforts to cause any pre-existing conditions or limitations,
      eligibility waiting periods or required physical examinations under any welfare
      benefit plans of any of the TIB Companies to be waived with respect to the
      Covered Employees and their eligible dependents, to the extent waived under
      the
      corresponding plan in which the applicable Covered Employee participated
      immediately prior to the Effective Time and, with respect to life insurance
      coverage, up to the Covered Employee’s current level of insurability, and (iii)
      give the Covered Employees and their eligible dependents credit for the plan
      year in which the Effective Time (or commencement of participation in a plan
      of
      any of the TIB Companies) occurs towards applicable deductibles and annual
      out-of-pocket limits for expenses incurred prior to the Effective Time (or
      the
      date of commencement of participation in a plan of any of the TIB
      Companies).

     

    (c) From
      and
      after the Effective Time, TIB
      shall
      honor all accrued and vested benefit obligations to and contractual rights
      of
      current and former employees of any BANK Companies under the BANK benefit
      plans.

     

    (d) If,
      within six (6) months after the Effective Time, the employment of any employee
      of BANK is terminated solely as a result of the Merger (i.e.,
      including, for example, as a result of the elimination of duplicative jobs,
      etc.), and not as a result of inadequate performance or other good cause, TIB
      will pay severance to each such employee in an amount equal to one week’s pay
      for each six (6) months of such employee’s prior employment; provided,
      however,
      that in
      no event will the total amount of severance for any single employee exceed
      $10,000 in the aggregate, other than payments pursuant to any change in control
      agreement between BANK and any of its officers in effect at the date of this
      Agreement. 

     

     

    ARTICLE
      9

    CONDITIONS
      PRECEDENT TO OBLIGATIONS TO CONSUMMATE

     

    9.1  Conditions
      to Obligations of Each Party. 
      The
      respective obligations of each of TIB, TIB-SUB and BANK to perform this
      Agreement and consummate the Merger and the other transactions provided for
      herein are subject to the satisfaction of the following conditions, unless
      waived by both Parties pursuant to Section 11.4 of this Agreement:

     

    (a)  Stockholder
      Approval. 
      The stockholders of BANK shall have approved this Agreement by the requisite
      vote, and the consummation of the transactions provided for herein, as and
      to
      the extent required by Law and by the provisions of any governing instruments,
      and BANK shall have furnished to TIB certified copies of resolutions duly
      adopted by its stockholders evidencing same. In addition, TIB, as the sole
      stockholder of TIB-SUB, shall have approved this Agreement and the consummation
      of the transactions provided for herein, as and to the extent required by Law
      and by the provisions of any governing instruments.

     

    (b)  Regulatory
      Approvals. 
      All Consents of, filings and registrations with, and notifications to, all
      Regulatory Authorities required for consummation of the Merger and the
      Subsidiary Merger shall have been obtained or made and shall be in full force
      and effect and all notice and waiting periods required by Law to have passed
      after receipt of such Consents shall have expired. No Consent obtained from
      any
      Regulatory Authority that is necessary to consummate the transactions provided
      for herein shall be conditioned or restricted in a manner (including without
      limitation requirements relating to the raising of additional capital or the
      disposition of Assets) which in the reasonable judgment of the Board of
      Directors of either Party would so materially adversely impact the economic
      or
      business benefits of the transactions provided for in this Agreement as to
      render inadvisable the consummation of the Merger or the Subsidiary Merger.
      

     

    (c)  Consents
      and Approvals. 
      Each of TIB, TIB-SUB and BANK shall have obtained any and all Consents required
      for consummation of the Merger (other than those referred to in Section 9.1(b)
      of this Agreement) or for the preventing of any Default under any Contract
      or
      Permit of such party which, if not obtained or made, is reasonably likely to
      have, individually or in the aggregate, a Material Adverse Effect on such party.
      No Consent so obtained which is necessary to consummate the transactions
      provided for herein shall be conditioned or restricted in a manner which in
      the
      reasonable judgment of the Board of Directors of either Party would so
      materially adversely impact the economic or business benefits of the
      transactions contemplated by this Agreement as to render inadvisable the
      consummation of the Merger.

     

    (d)  Legal
      Proceedings. 
      No court or Regulatory Authority of competent jurisdiction shall have enacted,
      issued, promulgated, enforced or entered any Law or Order (whether temporary,
      preliminary or permanent) or taken any other action that prohibits, restricts
      or
      makes illegal consummation of the transactions provided for in this Agreement.
      No action or proceeding shall have been instituted by any Person, and the
      Parties shall not have Knowledge of any threatened action or proceeding by
      any
      Person, which seeks to restrain the consummation of the transactions provided
      for in this Agreement which, in the opinion of the TIB Board or the BANK Board,
      renders it impossible or inadvisable to consummate the transactions provided
      for
      in this Agreement.

     

    (e)  Tax
      Opinion. 
      BANK and TIB shall have received a written opinion in form reasonably
      satisfactory to them (the “Tax Opinion”), to the effect that (i) the Merger
      will constitute a reorganization within the meaning of Section 368(a) of the
      IRC, (ii) the exchange in the Merger of BANK Common Stock for TIB Common
      Stock will not give rise to gain or loss to the stockholders of BANK with
      respect to such exchange (except to the extent of any cash received), and
      (iii) neither BANK nor TIB will recognize gain or loss as a consequence of
      the Merger (except for income and deferred gain recognized pursuant to Treasury
      regulations issued under Section 1502 of the IRC). The firm rendering such
      Tax
      Opinion shall be entitled to rely upon representations of officers of BANK
      and
      TIB reasonably satisfactory in form and substance to such counsel.

     

    (f)  S-4
      Registration Statement Effective. 
      The S-4 Registration Statement shall have been declared effective under the
      1933
      Act by the SEC and no stop order suspending the effectiveness of the S-4
      Registration Statement shall have been issued and no action, suit, proceeding
      or
      investigation for that purpose shall have been initiated or threatened by the
      SEC. 

     

    9.2  Conditions
      to Obligations of TIB and TIB-SUB. 
      The
      obligations of TIB and TIB-SUB to perform this Agreement and consummate the
      Merger and the other transactions provided for herein are subject to the
      satisfaction of the following conditions, unless waived by TIB pursuant to
      subsection 11.4(a) of this Agreement:

     

    (a)  Representations
      and Warranties. 
      The representations and warranties of BANK set forth or referred to in this
      Agreement and in any certificate or document delivered pursuant to the
      provisions hereof shall be true and correct in all material respects as of
      the
      date of this Agreement and as of the Effective Time with the same effect as
      though all such representations and warranties had been made on and as of the
      Effective Time (provided that representations and warranties which are confined
      to a specified date shall speak only as of such date), except as expressly
      contemplated by this Agreement.

     

    (b)  Performance
      of Obligations. 
      Each and all of the agreements, obligations and covenants of BANK to be
      performed and complied with pursuant to this Agreement and the other agreements
      provided for herein prior to the Effective Time shall have been duly performed
      and complied with in all material respects.

     

    (c)  Certificates. 
      BANK shall have delivered to TIB (i) a certificate, dated as of the
      Effective Time and signed on its behalf by its chief executive officer and
      its
      chief financial officer, to the effect that the conditions to TIB’s obligations
      set forth in subsections 9.2(a) and 9.2(b) of this Agreement have been
      satisfied, and (ii) certified copies of resolutions duly adopted by the
      BANK Board and the BANK stockholders evidencing the taking of all corporate
      action necessary to authorize the execution, delivery and performance of this
      Agreement, and the consummation of the transactions provided for herein, all
      in
      such reasonable detail as TIB and its counsel shall request.

     

    (d)  Opinion
      of Counsel. 
      BANK shall have delivered to TIB an opinion of Shutts & Bowen LLP, counsel
      to BANK, dated as of the Closing, in such form as shall be mutually agreed
      upon.

     

    (e)  Net
      Worth and Capital Requirements. 
      Immediately prior to the Effective Time, BANK shall have a minimum net worth
      of
      $8,430,000. For purposes of this Section 9.2(e), “net worth” shall mean, without
      regard to the Conforming Adjustments and the expenses relating to this Agreement
      and the transactions contemplated by this Agreement, the sum of the amounts
      set
      forth on the balance sheet as stockholders’ equity (including the par or stated
      value of all outstanding capital stock, retained earnings, additional paid-in
      capital, capital surplus and earned surplus, each as determined in accordance
      with GAAP), less any amounts due from or owed by any Subsidiary thereof;
provided,
      however,
      that
      any unrealized gains or losses on securities classified as “available for sale”
shall be disregarded for purposes of calculating “net worth.”

     

    (f)  Annual
      Audit; Comfort Letter. 
      TIB shall have received (i) the audited financial statements of the BANK as
      of
      and for the year ended December 31, 2006, which financial statements shall
      also
      contain an unqualified opinion thereon by Hacker, Johnson & Smith, P.A., and
      (ii) from Hacker, Johnson & Smith, P.A., independent certified public
      accountants, a comfort letter dated as of the Effective Time with respect to
      such matters relating to the financial condition of BANK as TIB may reasonably
      request.

     

    (g)  Conforming
      Adjustments. 
      The Conforming Adjustments shall have been made to the satisfaction of TIB
      in
      its sole discretion.

     

    (h)  Matters
      Relating to 280G Taxes. 
      TIB
      shall
      be satisfied in its sole discretion, either through mutually agreeable
      pre-Closing amendments or otherwise, that BANK shall have taken any and all
      reasonably necessary steps such that the Merger will not trigger any “excess
      parachute payment” (as defined in Section 280G of the IRC) under any Employment
      Agreements, Change in Control Agreements, BANK Benefit Plans, or similar
      arrangements between a BANK Company and any officers, directors, or employees
      thereof.

     

    (i)  Matters
      Relating to Change in Ownership Agreements.
      (i) TIB
      shall have received documentation reasonably satisfactory to TIB that any change
      in control agreements between BANK and any of its officers shall be terminated
      as of the Effective Time on terms satisfactory to TIB, BANK and the officers
      who
      are parties to such agreements, pursuant to agreements in substantially the
      form
      of Exhibit E, and (ii) each of David F. Voigt and Mack Wilcox shall have entered
      into employment agreements with TIB and BANK, pursuant to agreements in
      substantially the form of Exhibit F.
      

     

    (j)  Regulatory
      Matters.
      No
      agency or department of federal, state or local government or any Regulatory
      Authority or the staff thereof shall have (i) asserted that any BANK
      Company is not in material compliance with any of the Laws or Orders that such
      governmental authority or Regulatory Authority enforces, (ii) revoked any
      material Permits, or (iii) issued, or required any BANK Company to consent
      to the issuance or adoption of, a cease and desist order, formal agreement,
      directive, commitment or memorandum of understanding, or any board resolution
      or
      similar undertaking, that, in the reasonable estimation of TIB, restricts or
      impairs the conduct of such BANK Company’s business or future prospects.

     

    (k)  Absence
      of Adverse Facts. 
      There shall have been no determination by TIB in good faith that any fact,
      event
      or condition exists or has occurred that, in the judgment of TIB, (a) would
      have
      a Material Adverse Effect on, or which may be foreseen to have a Material
      Adverse Effect on, BANK or the consummation of the transactions provided for
      in
      this Agreement, (b) would be of such significance with respect to the business
      or economic benefits expected to be obtained by TIB pursuant to this Agreement
      as to render inadvisable the consummation of the transactions pursuant to this
      Agreement, (c) would be materially adverse to the interests of TIB on a
      consolidated basis or (d) would render the Merger or the other transactions
      provided for in this Agreement impractical because of any state of war, national
      emergency, banking moratorium or general suspension of trading on NASDAQ, the
      New York Stock Exchange, Inc. or other national securities exchange.

     

    (l)  Consents
      Under Agreements. 
      BANK shall have obtained all consents or approvals of each Person (other than
      the Consents of the Regulatory Authorities) whose consent or approval shall
      be
      required in order to permit the succession by the Surviving Bank to, or the
      continuation by BANK or any other BANK Subsidiary of, as the case may be, any
      obligation, right or interest of BANK or such BANK Subsidiary under any loan
      or
      credit agreement, note, mortgage, indenture, lease, license, Contract or other
      agreement or instrument, except those for which failure to obtain such consents
      and approvals would not in the reasonable opinion of TIB, individually or in
      the
      aggregate, have a Material Adverse Effect on the Surviving Bank and BANK or
      the
      BANK Subsidiary at issue or upon consummation of the transactions provided
      for
      in this Agreement. 

     

    (m)  Material
      Condition. 
      There shall not be any action taken, or any statute, rule, regulation or order
      enacted, entered, enforced or deemed applicable to the Merger by any Regulatory
      Authority which, in connection with the grant of any Consent by any Regulatory
      Authority, imposes, in the judgment of TIB, any material adverse requirement
      upon TIB or any TIB Subsidiary, including without limitation any requirement
      that TIB sell or dispose of any significant amount of the assets of BANK and
      its
      Subsidiaries, or any other TIB Subsidiary, provided that, except for any such
      requirement relating to the above-described sale or disposition of any
      significant assets of BANK or any TIB Subsidiary, no such term or condition
      imposed by any Regulatory Authority in connection with the grant of any Consent
      by any Regulatory Authority shall be deemed to be a material adverse requirement
      unless it materially differs from terms and conditions customarily imposed
      by
      any such entity in connection with the acquisition of banks, savings
      associations and bank and savings association holding companies under similar
      circumstances. 

     

    (n)  Certification
      of Claims. 
      BANK shall have delivered a certificate to TIB that BANK is not aware of any
      pending, threatened or potential claim against the directors or officers of
      BANK
      or under the directors and officers insurance policy or the fidelity bond
      coverage of BANK or any BANK Company.

     

    (o)  Loan
      Portfolio. 
      There
      shall not have been an increase by more than one-half (1/2) percent of BANK’s
      gross loans on the date of this Agreement in the aggregate volume of Loans
      described in Schedule
      5.9(a).

     

    (p)  Loan
      Allowance. 
      Immediately prior to the Effective Time, BANK shall have a minimum allowance
      for
      loan losses, as determined in accordance with GAAP shall not be less than the
      greater of $644,000 or 1.125% of the total BANK loans outstanding as set forth
      on the balance sheet of the BANK.

     

    9.3  Conditions
      to Obligations of BANK. 
      The
      obligations of BANK to perform this Agreement and consummate the Merger and
      the
      other transactions provided for herein are subject to the satisfaction of the
      following conditions, unless waived by BANK pursuant to subsection 11.4(b)
      of
      this Agreement:

     

    (a)  Representations
      and Warranties.
      The
      representations and warranties of TIB set forth or referred to in this Agreement
      and in any certificate of document delivered pursuant to the provisions hereof
      shall be true and correct in all material respects as of the date of this
      Agreement and as of the Effective Time with the same effect as though all such
      representations and warranties had been made on and as of the Effective Time
      (provided that representations and warranties which are confined to a specified
      date shall speak only as of such date), except as expressly contemplated by
      this
      Agreement.

     

    (b)  Performance
      of Obligations.
      Each
      and all of the agreements, obligations and covenants of TIB to be performed
      and
      complied with pursuant to this Agreement and the other agreements provided
      for
      herein prior to the Effective Time shall have been duly performed and complied
      with in all material respects.

     

    (c)  Certificates.
      TIB
      shall have delivered to BANK (i) a certificate, dated as of the Effective
      Time and signed on its behalf by its chief executive officer and its chief
      financial officer, to the effect that the conditions to BANK’s obligations set
      forth in subsections 9.3(a) and 9.3(b) of this Agreement have been satisfied,
      and (ii) certified copies of resolutions duly adopted by the TIB Board
      evidencing the taking of all corporate action necessary to authorize the
      execution, delivery and performance of this Agreement, and the consummation
      of
      the transactions provided for herein, all in such reasonable detail as BANK
      and
      its counsel shall request.

     

    (d)  Opinion
      of Counsel.
      TIB
      shall have delivered to BANK an opinion of Smith Mackinnon, P.A., counsel to
      TIB, dated as of the Effective Time, in such form as shall be mutually agreed
      upon.

     

    (e)  TIB
      Common Stock.
      The TIB
      Common Stock to be issued in the Merger shall have been qualified as a NASDAQ
      “national market system security” pursuant to Section 7.7 hereof. 

     

    (f)  Regulatory
      Matters.
      No
      agency or department of federal, state or local government, or any Regulatory
      Authority or the staff thereof shall have (i) asserted that any TIB Company
      is not in material compliance with any of the Laws or Orders that such
      governmental authority or Regulatory Authority enforces, or (ii) issued, or
      required any TIB Company to consent to the issuance or adoption of, a cease
      and
      desist order, formal agreement, directive, commitment or memorandum of
      understanding, or any board resolution or similar undertaking that, in the
      reasonable estimation of BANK, restricts or impairs the conduct of such TIB
      Company’s business or future prospects. All Consents of, filings and
      registrations with, and notifications to, all Regulatory Authorities required
      for consummation of the Subsidiary Merger shall have been obtained or made
      and
      shall be in full force and effect and all notice and waiting periods required
      by
      Law to have passed after receipt of such Consents shall have expired.

     

     

    ARTICLE
      10

    TERMINATION

     

    10.1  Termination.
      Notwithstanding any other provision of this Agreement, and notwithstanding
      the
      approval of this Agreement by the stockholders of BANK, this Agreement may
      be
      terminated and the Merger abandoned at any time prior to the Effective
      Time:

     

    (a)  by
      mutual
      written consent of the TIB Board and the BANK Board; or

     

    (b)  by
      the
      TIB Board or the BANK Board in the event of an inaccuracy of any representation
      or warranty contained in this Agreement which cannot be or has not been cured
      within thirty (30) days after the giving of written notice to the breaching
      Party of such inaccuracy and which inaccuracy is reasonably likely, in the
      opinion of the non-breaching Party, to have, individually or in the aggregate,
      a
      Material Adverse Effect on the breaching Party; or

     

    (c)  by
      the
      TIB Board or the BANK Board in the event of a material breach by the other
      Party
      of any covenant, agreement or other obligation contained in this Agreement
      which
      cannot be or has not been cured within thirty (30) days after the giving of
      written notice to the breaching Party of such breach; or

     

    (d)  by
      the
      TIB Board or the BANK Board (provided that the terminating Party is not then
      in
      material breach of any representation, warranty, covenant, agreement or other
      obligation contained in this Agreement) if (i) any Consent of any
      Regulatory Authority required for consummation of the Merger and the other
      transactions provided for herein shall have been denied by final nonappealable
      action of such authority or if any action taken by such Authority is not
      appealed within the time limit for appeal, or (ii) the stockholders of BANK
      fail to vote their approval of this Agreement and the transactions provided
      for
      herein as required by applicable Law at its Stockholders’ Meeting where the
      transactions are presented to such BANK stockholders for approval and voted
      upon; or

     

    (e)  by
      the
      TIB Board, if, notwithstanding any disclosures in the Schedules attached hereto
      or otherwise, (i) there shall have occurred any Material Adverse Effect
      with respect to BANK, or (ii) any facts or circumstances shall develop or
      arise after the date of this Agreement which are reasonably likely to cause
      or
      result in any Material Adverse Effect with respect to BANK, and such Material
      Adverse Effect (or such facts or circumstances) shall not have been remedied
      within fifteen (15) days after receipt by BANK of notice in writing from TIB
      specifying the nature of such Material Adverse Effect and requesting that it
      be
      remedied; or

     

    (f)  by
      the
      BANK Board, if (i) there shall have occurred any Material Adverse Effect
      with respect to TIB, or (ii) any facts or circumstances shall develop or
      arise after the date of this Agreement which are reasonably likely to cause
      or
      result in any Material Adverse Effect with respect to TIB, and such Material
      Adverse Effect (or such facts or circumstances) shall not have been remedied
      within fifteen (15) days after receipt by TIB of notice in writing from BANK
      specifying the nature of such Material Adverse Effect and requesting that it
      be
      remedied; or

     

    (g)  by
      the
      TIB Board or the BANK Board if the Merger shall not have been consummated by
      June 30, 2007, if the failure to consummate the transactions provided for herein
      on or before such date is not caused by any breach of this Agreement by the
      Party electing to terminate pursuant to this Section 10.1(g); or

     

    (h)  by
      the
      TIB Board or the BANK Board if any of the conditions precedent to the
      obligations of such Party to consummate the Merger cannot be satisfied or
      fulfilled by the date specified in Section 10.1(g) of this Agreement and such
      failure was not the fault of the terminating Party; or

     

    (i)  by
      the
      TIB Board if the holders of in excess of ten percent (10%) of the outstanding
      shares of BANK Common Stock properly assert their dissenters’ rights of
      appraisal pursuant to the Dissenter Provisions; or

     

    (j)  by
      the
      TIB Board if (i) the BANK Board shall have withdrawn, or adversely modified,
      or
      failed upon TIB’s request to reconfirm its recommendation of the Merger or this
      Agreement, (ii) the BANK Board shall have approved or recommended to the
      stockholders of BANK that they approve an Acquisition Proposal other than that
      contemplated by this Agreement, (iii) BANK fails to call the BANK Stockholders’
Meeting or otherwise breaches its obligations in Section 8.4 hereof, or
      (iv) any Person (other than BANK or an Affiliate of BANK) or group becomes
      the beneficial owner of 50% or more of the outstanding shares of BANK Common
      Stock; or

     

    (k)  by
      the
      BANK Board if (i) the BANK Board authorizes BANK, subject to complying with
      the
      terms of this Agreement, to enter into a definitive agreement concerning a
      transaction that constitutes a Superior Proposal and BANK notifies TIB in
      writing that it intends to enter into such an agreement, (ii) TIB does not
      make,
      within 3 business days of the receipt of BANK’s written notification of its
      intent to enter into a definitive agreement for a Superior Proposal, an offer
      that the BANK Board determines, in good faith after consultation with its
      financial advisors, is at least as favorable, in the aggregate, to the
      stockholders of BANK as the Superior Proposal, and (iii) BANK makes the
      payment required by Section 10.2(b). BANK agrees (x) that it will not enter
      into
      a definitive agreement referred to in clause (i) above until at least the fifth
      business day after it has provided the notice to TIB required thereby, and
      (y)
      to notify TIB promptly in writing if its intention to enter into a definitive
      agreement referred to in its notification shall change at any time after giving
      such notification. 

     

    (l)  By
      TIB,
      if it determines, upon written notice to BANK prior to the close of business
      five (5) business days after the Determination Date, if the Average Quoted
      Price
      shall be greater than $20.00 or by BANK if it determines, upon written notice
      to
      TIB prior to the close of business five (5) business days after the
      Determination Date, if the Average Quoted Price shall be less than $15.00.
      Notwithstanding the foregoing, TIB’s right to terminate this Agreement if the
      Average Quoted Price is in excess of $20.00 shall not be applicable if prior
      to
      the Effective Time TIB enters into an agreement or makes any public announcement
      with respect to a proposed transaction: (i) in which TIB would not be the
      surviving entity, (ii) as a result of which any Person or Group would become
      the
      beneficial owner of fifty percent (50%) or more of the outstanding shares of
      TIB
      Common Stock, or (iii) in connection with which TIB Common Stock would be
      converted into cash or some other security, in which case the Exchange Ratio
      shall remain fixed at 0.9730 unless the Average Quoted Price is less than
      $18.50, in which case the Exchange Ratio shall be determined in accordance
      with
      Section 3.1(b) of this Agreement.

     

    10.2  Effect
      of Termination. 

     

    (a)  In
      the
      event of a termination of this Agreement by either the TIB Board or the BANK
      Board as provided in Section 10.1, this Agreement shall become void and there
      shall be no Liability or obligation on the part of TIB or BANK or their
      respective officers or directors, except that this Section 10.2 and Article
      11
      and Sections 8.2 and 8.7 of this Agreement shall survive any such termination;
      provided,
      however,
      that
      nothing herein shall relieve any breaching Party from Liability for an uncured
      willful or breach of a representation, warranty, covenant, obligation or
      agreement giving rise to such termination.

     

    (b)  In
      the
      even that this Agreement is terminated (i) by the TIB Board pursuant to
      Section 10.1(j), (ii) by the BANK Board pursuant to Section 10.1(k), or
      (iii) otherwise by the BANK Board at a time when the TIB Board has grounds
      to
      terminate the Agreement pursuant to Section 10.1(j), then BANK shall, in the
      case of clause (i), two business days after the date of such termination
      or, in the case of clause (ii) or (iii), on the date of such termination, pay
      to
      TIB, by wire transfer of immediately available funds, the amount of $800,000
      (the “Termination Fee”).

     

    (c)  In
      the
      event that (i) after the date hereof an Acquisition Proposal shall have been
      publicly disclosed or any Person shall have publicly disclosed that, subject
      to
      the Merger being disapproved by BANK stockholders or otherwise rejected, it
      will
      make an Acquisition Proposal with respect to BANK and thereafter this Agreement
      is terminated by the TIB Board or the BANK Board pursuant to Section
      10.1(d)(ii), and (ii) concurrently with such termination or within nine months
      of such termination BANK enters into a definitive agreement with respect to
      an
      Acquisition Proposal or consummates an Acquisition Proposal with that same
      Person, then BANK shall, upon the earlier of entering into a definitive
      agreement with respect to an Acquisition Proposal or consummating an Acquisition
      Proposal, pay to TIB, by wire transfer of immediately available funds, the
      Termination Fee. For purposes of this Section 10.2(c) the references to “more
      than 15%” in the definition of Acquisition Proposal shall be deemed to be
      references to “a majority.”

     

    (d)  BANK
      acknowledges that the agreements contained in Sections 10.2(b) and 10.2(c)
      are
      an integral part of the transactions provided for in this Agreement, and that,
      without these agreements, TIB would not enter into this Agreement; accordingly,
      if BANK fails to promptly pay the amount due pursuant to Section 10.2(b) or
      Section 10.2(c), as the case may be, and, in order to obtain such payment,
      TIB
      commences a suit which results in a judgment for any of the Termination Fee,
      BANK shall pay TIB its costs and expenses (including attorneys’ fees) in
      connection with such suit.

     

    10.3  Non-Survival
      of Representations and Covenants. 
      The
      respective representations, warranties, obligations, covenants and agreements
      of
      the parties hereto shall not survive the Effective Time, except for those
      covenants and agreements contained herein which by their terms apply in whole
      or
      in part after the Effective Time.  

     

     

    ARTICLE
      11

    MISCELLANEOUS

     

    11.1  Definitions. 
      Except as otherwise provided herein, the capitalized terms set forth below
      (in
      their singular and plural forms as applicable) shall have the following
      meanings:

     

    “Acquisition
      Agreement” shall
      have the meaning provided in Section 7.6(a) of this Agreement.

     

    “Acquisition
      Proposal,”
      with
      respect to BANK, means a tender or exchange offer, proposal for a merger,
      acquisition of all the stock or Assets of, consolidation or other business
      combination involving BANK or any of its Subsidiaries or any proposal or offer
      to acquire in any manner more than 15% of the voting power in, or more than
      15%
      of the business, Assets or deposits of, BANK or any of its Subsidiaries,
      including a plan of liquidation of BANK or any of its Subsidiaries, other than
      the transactions contemplated by this Agreement.

     

    “Act”
      shall
      mean the Federal Deposit Insurance Act.

     

    “1933
      Act”
      shall
      mean the Securities Act of 1933, as amended.

     

    “1934
      Act”
      shall
      mean the Securities Exchange Act of 1934, as amended.

     

    “Advisory
      Fee”
      shall
      have the meaning provided in Section 5.24 of this Agreement.

     

    “Affiliate”
      of a
      Person shall mean: (i) any other Person directly, or indirectly through one
      or more intermediaries, controlling, controlled by or under common control
      with
      such Person; (ii) any officer, director, partner, employer, or direct or
      indirect beneficial owner of any 10% or greater equity or voting interest of
      such Person; or (iii) any other Person for which a Person described in
      clause (ii) acts in any such capacity.

     

    “Agreement”
      shall
      mean this Agreement and Plan of Merger, including the Exhibits and Schedules
      delivered pursuant hereto and incorporated herein by reference. References
      to
“the date of this Agreement,” “the date hereof” and words of similar import
      shall refer to the date this Agreement was first executed, as indicated in
      the
      introductory paragraph on the first page hereof.

     

    “Assets”
      of a
      Person shall mean all of the assets, properties, businesses and rights of such
      Person of every kind, nature, character and description, whether real, personal
      or mixed, tangible or intangible, accrued or contingent, or otherwise relating
      to or utilized in such Person’s business, directly or indirectly, in whole or in
      part, whether or not carried on the books and records of such Person, and
      whether or not owned in the name of such Person or any Affiliate of such Person
      and wherever located.

     

    “Average
      Quoted Price”
      shall
      mean the price derived by the averages of the closing sales price of the shares
      of TIB Common Stock as reported on NASDAQ on each of the ten (10) consecutive
      trading days ending on the fifth business day preceding the Determination
      Date.

     

    “BANK”
      shall
      mean The Bank of Venice, a Florida state bank.

     

    “BANK
      Allowance”
      shall
      have the meaning provided for in Section 5.9(a) of this Agreement.

     

    “BANK
      Benefit Plans”
      shall
      have the meaning set forth in Section 5.14(a) of this Agreement.

     

    “BANK
      Board”
      shall
      mean the Board of Directors of BANK.

     

    “BANK
      Call Reports”
      shall
      mean (i) the Reports of Income and Condition of BANK for the years ended
      December 31, 2005 and 2004, as filed with the FDIC; and (ii) the
      Reports of Income and Condition of BANK filed by BANK with respect to periods
      ended subsequent to December 31, 2005.

     

    “BANK
      Certificate”
      shall
      have the meaning provided in Section 4.2 of this Agreement.

     

    “BANK
      Common Stock”
      shall
      mean the $5.00 par value voting common stock of BANK.

     

    “BANK
      Companies”
      shall
      mean, collectively, BANK and all BANK Subsidiaries.

     

    “BANK
      Contracts”
      shall
      have the meaning set forth in Section 5.15 of this Agreement.

     

    “BANK
      ERISA Plans”
      shall
      have the meaning set forth in Section 5.14(a) of this Agreement.

     

    “BANK
      Financial Advisor”
      shall
      have the meaning set forth in Section 8.9 of this Agreement.

     

    “BANK
      Financial Statements”
      shall
      mean shall mean (i) the audited balance sheets (including related notes and
      schedules, if any) of BANK as of December 31, 2005, 2004 and 2003, and the
      related statements of income, changes in stockholders’ equity and cash flows
      (including related notes and schedules, if any) for the years then ended,
      together with the report thereon of Hacker, Johnson & Smith, P.A.,
      independent certified public accountants, and (ii) the unaudited balance
      sheets of BANK (including related notes and schedules, if any) and related
      statements of income, changes in stockholders’ equity and cash flows (including
      related notes and schedules, if any) with respect to periods ended subsequent
      to
      December 31, 2005.

     

    “BANK
      Option”
      shall
      have the meaning provided in Section 3.1(d) of this Agreement.

     

    “BANK
      Pension Plan”
      shall
      have the meaning set forth in Section 5.14(a) of this Agreement.

     

    “BANK
      Stock Option Plans”
      shall
      mean the The Bank of Venice Officers’ and Employees’ Stock Option Plan and the
      The Bank of Venice Directors’ Stock Option Plan.

     

    “BANK
      Stockholders’ Meeting”
      shall
      mean the meeting of the stockholders of BANK to be held pursuant to Section
      8.4
      of this Agreement, including any adjournment or adjournments
      thereof.

     

    “BANK
      Subsidiaries”
      shall
      mean the Subsidiaries of BANK, which shall include the BANK Subsidiaries
      described in Section 5.4 of this Agreement and any corporation, bank, savings
      association or other organization acquired as a Subsidiary of BANK in the future
      and owned by BANK at the Effective Time.

     

    “BHC
      Act”
      shall
      mean the federal Bank Holding Company Act of 1956, as amended.

     

    “Cash
      Election Shares”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “Certificate
      of Objections”
      shall
      have the meaning provided in Section 8.5 of this Agreement.

     

    “Closing”
      shall
      mean the closing of the Merger and the other transactions provided for herein,
      as described in Section 1.2 of this Agreement.

     

    “Conforming
      Adjustments”
      shall
      have the meaning provided in Section 8.14 of this Agreement.

     

    “Consent”
      shall
      mean any consent, approval, authorization, clearance, exemption, waiver or
      similar affirmation by any Person pursuant to any Contract, Law, Order or
      Permit.

     

    “Contract”
      shall
      mean any written or oral agreement, arrangement, authorization, commitment,
      contract, indenture, debenture, instrument, trust agreement, guarantee, lease,
      obligation, plan, practice, restriction, understanding or undertaking of any
      kind or character, or other document to which any Person is a party or that
      is
      binding on any Person or its capital stock, Assets or business.

     

    “Cutoff”
      shall
      have the meaning provided in Section 4.2 of this Agreement.

     

    “Default”
      shall
      mean (i) any breach or violation of or default under any Contract, Order or
      Permit, (ii) any occurrence of any event that with the passage of time or
      the giving of notice or both would constitute a breach or violation of or
      default under any Contract, Order or Permit, or (iii) any occurrence of any
      event that with or without the passage of time or the giving of notice would
      give rise to a right to terminate or revoke, change the current terms of, or
      renegotiate, or to accelerate, increase, or impose any Liability under, any
      Contract, Order or Permit, where, in any such event, such Default is reasonably
      likely to have, individually or in the aggregate, a Material Adverse Effect
      on a
      Party.

     

    “Designated
      Representative”

     

    (a) with
      respect to BANK shall mean David F. Voigt and/or Mack Wilcox; and

     

    (b) with
      respect to TIB shall mean Edward V. Lett, and/or Stephen J.
      Gilhooly.

     

    “Determination
      Date” shall
      mean the date on which the last of the following occurs: (i) the effective
      date
      (including expiration of any applicable waiting period required by Law) of
      the
      last required Consent of any Regulatory Authority having authority over and
      approving or exempting the Merger, (ii) the date on which the shareholders
      of
      BANK approved this Agreement to the extent that such approval is required by
      applicable Law, and (iii) February 28, 2007.

     

    “Dissenter
      Provisions”
      shall
      have the meaning provided in Section 3.4 of this Agreement.

     

    “Dissenting
      BANK Shares”
      shall
      have the meaning provided in Section 3.4 of this Agreement.

     

    “Dissenting
      Stockholder”
      shall
      have the meaning provided in Section 3.4 of this Agreement.

     

    “Effective
      Time”
      shall
      mean the date and time at which the Merger becomes effective as provided in
      Section 1.3 of this Agreement.

     

    “Election
      Deadline”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “Election
      Form”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “Employment
      Laws” shall
      mean all Laws relating to employment, equal employment opportunity,
      nondiscrimination, immigration, wages, unemployment wages, hours, benefits,
      collective bargaining, the payment of social security and similar taxes,
      occupational safety and health and plant closing, including, but not limited
      to,
      42 U.S.C. § 1981, Title VII of the Civil Rights Act of 1964, as amended, the
      Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Equal
      Pay Act, the Fair Labor Standards Act, the Family and Medical Leave Act, the
      Americans with Disabilities Act, Workers’ Compensation, Uniformed Services
      Employment and Re-Employment Rights Act of 1994, Older Workers Benefit
      Protection Act, Pregnancy Discrimination Act and the Worker Adjustment and
      Retraining Notification Act. 

     

    “Environmental
      Laws”
      shall
      mean all Laws which are administered, interpreted or enforced by the United
      States Environmental Protection Agency and state and local agencies with
      jurisdiction over pollution or protection of the environment.

     

    “ERISA”
      shall
      mean the Employee Retirement Income Security Act of 1974, as
      amended.

     

    “ERISA
      Affiliate”
      shall
      have the meaning provided in Section 5.14(c) of this Agreement.

     

    “Exchange
      Agent”
      shall
      mean American Stock Transfer & Trust Company.

     

    “Exchange
      Ratio”
      shall
      have the meaning given such term in Section 3.1(b) hereof.

     

    “FBCA”
      shall
      mean the Florida Business Corporation Act, as amended. 

     

    “FDIC”
      shall
      mean the Federal Deposit Insurance Corporation.

     

    “FFIC”
      shall
      mean the Florida Financial Institutions Code.

     

    “FRB”
      or
“Federal
      Reserve Board”
      shall
      mean Board of Governors of the Federal Reserve System.

     

    “GAAP”
      shall
      mean generally accepted accounting principles, consistently applied during
      the
      periods involved.

     

    “Hazardous
      Material”
      shall
      mean any pollutant, contaminant, or hazardous substance within the meaning
      of
      the Comprehensive Environment Response, Compensation, and Liability Act, 42
      U.S.C. § 9601 et
      seq.,
      or any
      similar federal, state or local Law.

     

    “Indemnified
      Party” shall
      have the meaning provided in Section 8.17(a) of this Agreement.

     

    “IRC”
      shall
      mean the Internal Revenue Code of 1986, as amended, and the rules and
      regulations promulgated thereunder.

     

    “Knowledge”
      as used
      with respect to a Party shall mean the actual knowledge of the officers and
      directors of such Party and that knowledge that any director of the Party would
      have obtained upon a reasonable examination of the books, records and accounts
      of such Party and that knowledge that any officer of the Party would have
      obtained upon a reasonable examination of the books, records and accounts of
      such officer and such Party.

     

    “Law”
      shall
      mean any code, law, ordinance, regulation, reporting or licensing requirement,
      rule, or statute applicable to a Person or its Assets, Liabilities or business,
      including without limitation those promulgated, interpreted or enforced by
      any
      of the Regulatory Authorities.

     

    “Liability”
      shall
      mean any direct or indirect, primary or secondary, liability, indebtedness,
      obligation, penalty, cost or expense (including without limitation costs of
      investigation, collection and defense), claim, deficiency, guaranty or
      endorsement of or by any Person (other than endorsements of notes, bills, checks
      and drafts presented for collection or deposit in the ordinary course of
      business) of any type, whether accrued, absolute or contingent, liquidated
      or
      unliquidated, matured or unmatured, or otherwise.

     

    “Lien”
      shall
      mean any conditional sale agreement, default of title, easement, encroachment,
      encumbrance, hypothecation, infringement, lien, mortgage, pledge, reservation,
      restriction, security interest, title retention or other security arrangement,
      or any adverse right or interest, charge or claim of any nature whatsoever
      of,
      on or with respect to any property or property interest, other than
      (i) Liens for current property Taxes not yet due and payable, (ii) for
      depository institution Subsidiaries of a Party, pledges to secure deposits
      and
      other Liens incurred in the ordinary course of the banking business, and
      (ii) Liens which are not reasonably likely to have, individually or in the
      aggregate, a Material Adverse Effect on a Party.

     

    “Litigation”
      shall
      mean any action, arbitration, cause of action, claim, complaint, criminal
      prosecution, demand letter, governmental or other examination or investigation,
      hearing, inquiry, administrative or other proceeding or notice (written or
      oral)
      by any Person alleging potential Liability or requesting information relating
      to
      or affecting a Party, its business, its Assets (including without limitation
      Contracts related to it), or the transactions provided for in this Agreement,
      but shall not include regular, periodic examinations of depository institutions
      and their Affiliates by Regulatory Authorities.

     

    “Litigation
      Reserve”
      shall
      have the meaning set forth in Section 5.9(a) of this Agreement.

     

    “Loan
      Property”
      shall
      mean any property owned by a Party in question or by any of its Subsidiaries
      or
      in which such Party or Subsidiary holds a security interest, and, where required
      by the context, includes the owner or operator of such property, but only with
      respect to such property.

     

    “Loans”
      shall
      have the meaning set forth in Section 5.9(a) of this Agreement.

     

    “Mailing
      Date”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “Material”
      for
      purposes of this Agreement shall be determined in light of the facts and
      circumstances of the matter in question; provided that any specific monetary
      amount stated in this Agreement shall determine materiality in that
      instance.

     

    “Material
      Adverse Effect”
      on a
      Party shall mean an event, change or occurrence that, individually or together
      with any other event, change or occurrence, has a material adverse impact on
      (i) the financial position, results of operations or business of such Party
      and its Subsidiaries, taken as a whole, or (ii) the ability of such Party
      to perform its obligations under this Agreement or to consummate the Merger
      or
      the other transactions provided for in this Agreement; provided that “material
      adverse impact” shall not be deemed to include the impact of (x) changes in
      banking and similar Laws of general applicability or interpretations thereof
      by
      courts of governmental authorities, (y) changes in generally accepted
      accounting principles or regulatory accounting principles generally applicable
      to banks and their holding companies and (z) the Merger or the announcement
      of the Merger on the operating performance of the Parties. 

     

    “Maximum
      Cash Amount”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “Merger”
      shall
      mean the merger of BANK with and into TIB-SUB referred to in the Preamble of
      this Agreement.

     

    “NASD”
      shall
      mean the National Association of Securities Dealers, Inc.

     

    “NASDAQ”
      shall
      mean the National Market System of the National Association of Securities
      Dealers Automated Quotations System.

     

    “Net
      Income Per Share Amount”
      shall
      mean the amount equal to the quotient obtained by dividing (i) the net income
      of
      the BANK from July 1, 2006 until the end of the calendar month immediately
      preceding the latter of (x) the Effective Time or (y) February 28, 2007,
      calculated in accordance with GAAP (except that any expenses relating to this
      Agreement and the transactions contemplated by this Agreement and all Conforming
      Adjustments shall be excluded from such calculation), and as such calculation
      of
      net income shall be mutually agreed upon by the BANK and TIB, by (ii) the number
      of shares of BANK Common Stock issued and outstanding immediately prior to
      the
      Effective Time.

     

    “No
      Election Shares”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “OCC”
      shall
      mean the Office of the Comptroller of the Currency.

     

    “Order”
      shall
      mean any administrative decision or award, decrees, injunction, judgment, order,
      quasi-judicial decision or award, ruling, or writ of any federal, state, local
      or foreign or other court, arbitrator, mediator, tribunal, administrative agency
      or Regulatory Authority.

     

    “OREO
      Reserve”
      shall
      have the meaning set forth in Section 5.9(a) of this Agreement.

     

    “Participation
      Facility”
      shall
      mean any facility in which the Party in question or any of its Subsidiaries
      participates in the management and, where required by the context, includes
      the
      owner or operator or such property, but only with respect to such
      property.

     

    “Party”
      shall
      mean either BANK or TIB, and “Parties” shall mean both BANK and
      TIB.

     

    “Permit”
      shall
      mean any federal, state, local and foreign governmental approval, authorization,
      certificate, easement, filing, franchise, license, notice, permit or right
      to
      which any Person is a party or that is or may be binding upon or inure to the
      benefit of any Person or its securities, Assets or business.

     

    “Per
      Share Cash Consideration” shall
      have the meaning provided in Section 3.1(c) of this Agreement.

     

    “Person”
      shall
      mean a natural person or any legal, commercial or governmental entity, such
      as,
      but not limited to, a corporation, general partnership, joint venture, limited
      partnership, limited liability company, trust, business association, group
      acting in concert or any person acting in a representative
      capacity.

     

    “Potential
      Cash Payments”
      shall
      have the meaning provided in Section 3.1(c) of this Agreement. 

     

    “Proxy
      Statement/Prospectus”
      shall
      have the meaning set forth in Section 5.18 of this Agreement.

     

    “Regulatory
      Authorities”
      shall
      mean, collectively, the Federal Trade Commission, the United States Department
      of Justice, the FRB, the OCC, the FDIC, all state regulatory agencies having
      jurisdiction over the Parties and their respective Subsidiaries, the NASD and
      the SEC.

     

    “Related
      Interest”
      shall
      have the meaning set forth in Section 5.15 of this Agreement.

     

    “S-4
      Registration Statement”
      shall
      have the meaning set forth in Section 5.18 of this Agreement.

     

    “SEC”
      shall
      mean the United States Securities and Exchange Commission.

     

    “Securities
      Laws”
      shall
      mean the 1933 Act, the 1934 Act, the Investment Company Act of 1940 as amended,
      the Investment Advisers Act of 1940, as amended, the Trust Indenture Act of
      1939, as amended, and the rules and regulations of any Regulatory Authority
      promulgated thereunder.

     

    “Subsidiaries”
      shall
      mean all those corporations, banks, associations or other entities of which
      the
      entity in question owns or controls 50% or more of the outstanding equity
      securities either directly or through an unbroken chain of entities as to each
      of which 50% or more of the outstanding equity securities is owned directly or
      indirectly by its parent; provided,
      however,
      there
      shall not be included any such entity acquired through foreclosure or any such
      entity the equity securities of which are owned or controlled in a fiduciary
      capacity.

     

    “Superior
      Proposal”
      means a
      bona fide written Acquisition Proposal which the BANK Board concludes in good
      faith to be more favorable from a financial point of view to its stockholders
      than the Merger and the other transactions contemplated hereby, (1) after
      receiving the advice of its legal and financial advisors (who shall be a
      nationally recognized investment banking firm, TIB agreeing that the BANK
      Financial Advisor is a nationally recognized investment banking firm), (2)
      after
      taking into account the likelihood of consummation of such transaction on the
      terms set forth therein (as compared to, and with due regard for, the terms
      herein) and (3) after taking into account all legal (with the advice of outside
      counsel), financial (including the financing terms of any such proposal),
      regulatory and other aspects of such proposal and any other relevant factors
      permitted under applicable law; provided that for purposes of the definition
      of
“Superior Proposal”, the references to “more than 15%” in the definition of
      Acquisition Proposal shall be deemed to be references to “a majority” and the
      definition of Acquisition Proposal shall only refer to a transaction involving
      BANK and not its Subsidiaries.

     

    “Surviving
      Bank”
      shall
      mean BANK as the Surviving Bank in the Merger.

     

    “Takeover
      Laws”
      shall
      have the meaning set forth in Section 5.28 of this Agreement.

     

    “Tax
      Opinion”
      shall
      have the meaning set forth in Section 9.1(e) of this Agreement.

     

    “Taxes”
      shall
      mean any federal, state, county, local, foreign and other taxes, assessments,
      charges, fares, and impositions, including interest and penalties thereon or
      with respect thereto.

     

    “Termination
      Fee” shall
      have the meaning set forth in Section 10.2(b) of this Agreement.

     

    “TIB”
      shall
      mean TIB Financial Corp., a Florida corporation.

     

    “TIB
      Board”
      shall
      mean the Board of Directors of TIB.

     

    “TIB
      Common Stock”
      shall
      mean the $0.10 par value common stock of TIB.

     

    “TIB
      Companies”
      shall
      mean, collectively, TIB and all TIB Subsidiaries.

     

    “TIB
      Financial Statements”
      shall
      mean (i) the audited consolidated balance sheets (including related notes
      and schedules, if any) of TIB as of December 31, 2005, 2004 and 2003, and
      the related statements of income, changes in stockholders’ equity and cash flows
      (including related notes and schedules, if any) for the years then ended, and
      (ii) the consolidated balance sheets of TIB (including related notes and
      schedules, if any) and related statements of income, changes in stockholders’
equity and cash flows (including related notes and schedules, if any) with
      respect to periods ended subsequent to December 31, 2005.

     

    “TIB
      Subsidiaries”
      shall
      mean the Subsidiaries of TIB. 

     

    11.2  Entire
      Agreement. 
      Except
      as
      otherwise expressly provided herein, this Agreement (including the documents
      and
      instruments referred to herein) constitutes the entire agreement between the
      parties hereto with respect to the transactions provided for herein and
      supersedes all prior arrangements or understandings with respect thereto,
      written or oral.

     

    11.3  Amendments. 
      To
      the
      extent permitted by Law, this Agreement may be amended by a subsequent writing
      signed by each of the parties hereto upon the approval of the Boards of
      Directors of each of the parties hereto; provided,
      however,
      that
      after approval of this Agreement by the holders of BANK Common Stock, there
      shall be made no amendment that pursuant to applicable Law requires further
      approval by the BANK stockholders without the further approval of the BANK
      stockholders.

     

    11.4  Waivers.

     

    (a)  Prior
      to
      or at the Effective Time, TIB, acting through the TIB Board, chief executive
      officer or other authorized officer, shall have the right to waive any Default
      in the performance of any term of this Agreement by BANK, to waive or extend
      the
      time for the compliance or fulfillment by BANK of any and all of its obligations
      under this Agreement, and to waive any or all of the conditions precedent to
      the
      obligations of TIB under this Agreement, except any condition which, if not
      satisfied, would result in the violation of any Law. No such waiver shall be
      effective unless in writing signed by a duly authorized officer of TIB. No
      representation or warranty in this Agreement shall be affected or deemed waived
      by reason of the fact that TIB and/or its representatives knew or should have
      known that any such representation or warranty was, is, might be or might have
      been inaccurate in any respect.

     

    (b)  Prior
      to
      or at the Effective Time, BANK, acting through the BANK Board, chief executive
      officer or other authorized officer, shall have the right to waive any Default
      in the performance of any term of this Agreement by TIB, to waive or extend
      the
      time for the compliance or fulfillment by TIB of any and all of its obligations
      under this Agreement, and to waive any or all of the conditions precedent to
      the
      obligations of BANK under this Agreement, except any condition which, if not
      satisfied, would result in the violation of any Law. No such waiver shall be
      effective unless in writing signed by a duly authorized officer of BANK. No
      representation or warranty in this Agreement shall be affected or deemed waived
      by reason of the fact that BANK and/or its representatives knew or should have
      known that any such representation or warranty was, is, might be or might have
      been inaccurate in any respect.

     

    11.5  Assignment. 
      Except
      as
      expressly provided for herein, neither this Agreement nor any of the rights,
      interests or obligations hereunder shall be assigned by any party hereto
      (whether by operation of Law or otherwise) without the prior written consent
      of
      the other parties. Subject to the preceding sentence, this Agreement will be
      binding upon, inure to the benefit of and be enforceable by the parties hereto
      and their respective successors and assigns.

     

    11.6  Notices. 
      All
      notices or other communications which are required or permitted hereunder shall
      be in writing and sufficient if delivered by hand, by facsimile transmission,
      by
      registered or certified mail, postage pre-paid, or by courier or overnight
      carrier, to the persons at the addresses set forth below (or at such other
      address as may be provided hereunder), and shall be deemed to have been
      delivered as of the date so delivered:

     

    
      	 	
               If
                to BANK, then to:

            	 	
              The Bank of Venice

              240
                Nokomis Avenue South

              Venice,
                Florida, 34285-2321

              Telecopy
                Number: (386) 677-9220

               

            	 
	 	 	 	Attention:  David
              F. Voigt	 
	 	 	 	        Chairman
              and
              Chief Executive Officer	 
	 	 	 	
               

               

            	 
	 	with a copy to:	 	
              Shutts
                & Bowen LLP

              300
                South Orange Avenue, Suite 1000

              Orlando,
                Florida 32801

              Telecopy
                Number: (407) 849-7206

               

            	 
	 	 	 	Attention:  Rod
              Jones, Esq.	 
	 	 	 	 	 
	 	If to TIB, then to:	 	
              TIB Financial Corp.

              599 9th Street North

              Naples,
                Florida 34102-5624

              Telecopy
                Number: (205) 583-3275

               

            	 
	 	 	 	
              Attention:  Edward
                V. Lett

            	 
	 	 	 	        Chief
              Executive
              Officer	 
	 	 	 	 	 
	 	with a copy to:	 	
              Smith Mackinnon, PA

              Citrus Center, Suite 800

              255
                South Orange Avenue

              Orlando,
                Florida 32801

              Telecopy
                Number: (407) 843-2448

               

            	 
	 	 	 	
              Attention:  John
                P. Greeley, Esq.

            	 
	 	 	 	 	 

    

     

    11.7  Brokers
      and Finders. 
      Except
      as
      provided in Section 5.24, each of the Parties represents and warrants that
      neither it nor any of its officers, directors, employees or Affiliates has
      employed any broker or finder or incurred any Liability for any financial
      advisory fees, investment bankers’ fees, brokerage fees, commissions or finders’
fees in connection with this Agreement or the transactions provided for herein.
      In the event of a claim by any broker or finder based upon his or its
      representing or being retained by or allegedly representing or being retained
      by
      BANK or TIB, each of BANK and TIB, as the case may be, agrees to indemnify
      and
      hold the other Party harmless of and from any Liability with respect to any
      such
      claim.

     

    11.8  Governing
      Law. 
      This
      Agreement shall be governed by and construed in accordance with the Laws of
      the
      State of Florida without regard to any applicable conflicts of Laws, except
      to
      the extent federal law shall be applicable.

     

    11.9  Counterparts. 
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed to be an original, but all of which together shall constitute one and
      the
      same document with the same force and effect as though all parties had executed
      the same document.

     

    11.10  Captions. 
      The
      captions as to contents of particular articles, sections or paragraphs contained
      in this Agreement and the table of contents hereto are for reference purposes
      only and are not part of this Agreement.

     

    11.11  Enforcement
      of Agreement. 
      The
      parties hereto agree that irreparable damage would occur in the event that
      any
      of the provisions of this Agreement was not performed in accordance with its
      specific terms or was otherwise breached. It is accordingly agreed that the
      parties hereto shall be entitled to an injunction or injunctions to prevent
      breaches of this Agreement and to enforce specifically the terms and provisions
      hereof in any court of the United States or any state having jurisdiction,
      this
      being in addition to any other remedy to which they are entitled at law or
      in
      equity.

     

    11.12  Severability. 
      Any
      term
      or provision of this Agreement that is invalid or unenforceable in any
      jurisdiction shall, as to that jurisdiction, be ineffective to the extent of
      such invalidity or unenforceability without rendering invalid or unenforceable
      the remaining terms and provisions of this Agreement or affecting the validity
      or enforceability of any of the terms or provisions of this Agreement in any
      other jurisdiction. If any provision of this Agreement is so broad as to be
      unenforceable, the provision shall be interpreted to be only so broad as is
      enforceable.

     

    11.13  Construction
      of Terms. 
      Where
      the
      context so requires or permits, the use of singular form includes the plural,
      and the use of the plural form includes the singular, and the use of any gender
      includes any and all genders. Accounting terms used and not otherwise defined
      in
      this Agreement have the meanings determined by, and all calculations with
      respect to accounting or financial matters unless otherwise provided for herein,
      shall be computed in accordance with generally accepted accounting principles,
      consistently applied. References herein to articles, sections, paragraphs,
      subparagraphs or the like shall refer to the corresponding articles, sections,
      paragraphs, subparagraphs or the like of this Agreement. The words “hereof,”
“herein,” and terms of similar import shall refer to this entire Agreement.
      Unless the context clearly requires otherwise, the use of the terms “including,”
“included,” “such as,” or terms of similar meaning, shall not be construed to
      imply the exclusion of any other particular elements.

     

    11.14  Schedules. 
      The
      disclosures in the Schedules to this Agreement, and those in any supplement
      thereto, must relate only to the representations and warranties in the Section
      of the Agreement to which they expressly relate and not to any other
      representation or warranty in this Agreement. In the event of any inconsistency
      between the covenants or statements in the body of this Agreement and those
      in
      the Schedules (other than an exception expressly set forth as such in the
      Schedules with respect to a specifically identified representation or warranty),
      the covenants and statements in the body of this Agreement will
      control.

     

    11.15  Exhibits
      and Schedules. 
      Each
      of
      the exhibits and schedules attached hereto is an integral part of this Agreement
      and shall be applicable as if set forth in full at the point in the Agreement
      where reference to it is made.

     

    11.16  No
      Third Party Beneficiaries. 
      Nothing
      in this Agreement expressed or implied is intended to confer upon any Person,
      other than the parties hereto or their respective successors, any right,
      remedies, obligations or liabilities under or by reason of this Agreement,
      except as expressly contemplated by this Agreement.  

     

    11.17  Alternative
      Structure.  Subject
      to BANK’s prior written consent, prior to the Effective Time, TIB may revise the
      structure of the Merger and related transactions in order to substitute an
      alternative TIB Subsidiary in the place of TIB-SUB, provided that BANK will
      be
      the Surviving Bank upon consummation of the Merger, and provided further that
      each of the transactions comprising such revised structure shall (i) fully
      qualify as, or fully be treated as part of, one or more tax-free reorganizations
      within the meaning of Section 368(a) of the IRC, and not change the amount
      of
      consideration to be received by BANK=s
      stockholders, (ii) be capable of consummation in as timely a manner as the
      Merger, as the case may be, provided for herein, and (iii) not otherwise be
      prejudicial to the interests of BANK’s stockholders. In such event, this
      Agreement and any related documents shall be appropriately amended in order
      to
      reflect any such revised structure. 

     

     

    [Signature
      page follows.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      each of
      the parties hereto has caused this Agreement to be executed on its behalf and
      its seal to be hereunto affixed and attested by its respectively authorized
      officers as of the day and year first above written.

     

    
      
        	 	
                THE
                  BANK OF VENICE

                 

                 

              	 
	 	
                 By:
 

              	 /s/
                David F. Voigt    	 
	 	 	
                David F. Voigt

                Chairman and Chief Executive Officer

              	 
	 	 	
                 

                 

                 

                 

              	 
	 	
                TBV
                  INTERIM BANK (IN ORGANIZATION)

                 

                 

              	 
	 	
                 By:
 

              	 /s/
                Edward V. Lett	 
	 	 	
                Edward V. Lett

                President and Chief Executive Officer

              	 
	 	 	
                 

                 

                 

              	 
	 	
                TIB FINANCIAL CORP.

                 

                 

              	 
	 	
                By: 

              	 /s/
                Edward V. Lett	 
	 	 	
                Edward
                  V. Lett

                
                  President and Chief Executive
                    Officer

                

              	 
	 	 	 	 
	 	 	 	 

      

    

     

     

    
 

    

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    [Exhibits
      intentionally omitted]

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