Document:

Exhibit

Exhibit 10(aa)

Fidelity Bank
Split Dollar Agreement and Endorsement

This Split Dollar Agreement and Endorsement (this “Split Dollar Agreement”) is entered into as of [•], by and between Fidelity Bank, a Georgia-chartered bank (the “Bank”), and [•] (the “Executive”).  This Split Dollar Agreement shall append the Split Dollar Policy Endorsement entered into on even date herewith, or as subsequently amended, by and between the aforementioned parties.

Whereas, the Bank and the Executive entered into a Salary Continuation Agreement with an effective date of [•], which agreement provides for payment by the Bank to the Executive of an annual retirement benefit for [•] years when the Executive attains the retirement age specified in the Salary Continuation Agreement, 

Whereas, the Bank and the Executive entered into [•] split dollar agreements allowing the Executive to designate the beneficiary of life insurance proceeds payable on the Executive’s life:

(1)    [INSERT DESCRIPTION OF PRIOR SPLIT DOLLAR AGREEMENTS]

Whereas, the Bank and the Executive intend by this Split Dollar Agreement and Endorsement to eliminate the deficiency in the $[•] death benefit intended to be provided by the [•] Split Dollar Agreement, which deficiency currently is estimated to be approximately $[•] because the death benefit actually payable under that agreement is currently estimated to be approximately $[•], and

Whereas, the Bank and the Executive intend to eliminate the deficiency in the death benefit payable under the [•] Split Dollar Agreement by providing in this Split Dollar Agreement and Endorsement that - without diminishing or affecting the Executive’s right to designate the beneficiary of a portion of the proceeds payable under the [•] life insurance policies (issued by [•]) under the [•] Split Dollar Life Insurance Agreement - the Executive may designate the beneficiary of an additional portion of the proceeds payable on the [•] life insurance policies, whether the Executive’s death occurs while employed by the Bank or after retirement, the additional portion being the lesser of (x) 100% of the net amount at risk under the policies, meaning total policy death proceeds minus policy cash surrender value, and (y) the amount by which the intended death benefit of $[•] payable to the Executive’s designated beneficiary under the [•] Split Dollar Agreement exceeds the death benefit actually payable to the Executive’s designated beneficiary under the terms of that agreement.

Now Therefore, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows.

Article 1
General Definitions

Capitalized terms used in this Split Dollar Agreement shall have the meaning specified as follows.

1.1    “Bank” means Fidelity Bank, a Georgia-chartered bank.

1.2    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

1.3    “Executive’s Interest” means the benefit set forth in section 2.2.

1.4    “Insured” means the Executive.

1.5    “Insurer” means each life insurance carrier for which there is a Split Dollar Policy Endorsement attached to this Split Dollar Agreement.

1.6    “Net Death Proceeds” means the total death proceeds of the Policy minus the cash surrender value.

1.7    “Plan Administrator” means the plan administrator described in Article 7.

1.8    “Policy” means the specific life insurance policy or policies issued by the Insurer.

1.9    “Separation from Service” means separation from service as defined in Internal Revenue Code section 409A and rules, regulations, and guidance of general application thereunder issued by the Department of the Treasury, including termination for any reason of the Executive’s service as an executive and independent contractor to the Bank and any member of a controlled group, as defined in Internal Revenue Code section 414, other than because of a leave of absence approved by the Bank or the Executive’s death.  For purposes of this Agreement, if there is a dispute about the employment status of the Executive or the date of the Executive’s Separation from Service, the Bank shall have the sole and absolute right to decide the dispute.

1.10    “Split Dollar Agreement” means this Split Dollar Agreement and Endorsement, as the same may be amended or restated after the date hereof.

1.11    “Split Dollar Policy Endorsement” means the form required by the Plan Administrator or the Insurer to memorialize the Executive’s interest, if any, in a Policy on the Executive’s life.

Article 2
Policy Ownership/Interests

2.1    Bank Ownership.  The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership.  The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 below.

2.2    Death Benefit.  At the Executive’s death the Executive’s beneficiaries designated in accordance with the Split Dollar Policy Endorsement(s) shall collectively be entitled to Policy proceeds in an amount equal to the lesser of (x) 100% of the Net Death Proceeds, minus the amount paid under the [•] Split Dollar Life Insurance Agreement, or (y) the amount by which the intended death benefit of $[•] payable to the Executive’s designated beneficiary under the [•] Split Dollar Agreement exceeds the death benefit actually payable to the Executive’s designated beneficiary under the terms of that agreement (the lesser of the amounts specified in clauses (x) and (y) being referred to in this Split Dollar Agreement as the “Executive’s Interest”).  The Executive shall have the right to designate the beneficiaries of the Executive’s Interest.  The Executive’s Interest shall be extinguished when this Split Dollar Agreement terminates, and the Executive’s beneficiaries shall be entitled to no benefits under this Split Dollar Agreement for the Executive’s death occurring thereafter.

2.3    Comparable Coverage.  The Bank may replace the Policy with a comparable insurance policy to cover the benefit provided under this Split Dollar Agreement, in which case the Bank and the Executive shall execute a new Split Dollar Policy Endorsement for the comparable insurance policy.

2.4    Internal Revenue Code Section 1035 Exchanges.  The Executive recognizes and agrees that the Bank may after this Split Dollar Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s life for another contract of life insurance insuring the Executive’s life.  Provided that the Policy is replaced (or intended to be replaced) with a comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating to a comparable insurer.

Article 3
Premiums

3.1    Premium Payment.  The Bank shall pay any premiums due on the Policy.

3.2    Economic Benefit.  The Plan Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary.   The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.

3.3    Imputed Income.  The Bank shall impute the economic benefit to the Executive on an annual basis by adding the economic benefit to the Executive’s W-2, or if applicable, Form 1099.

Article 4
Assignment

The Executive may irrevocably assign without consideration all of the Executive’s interest in the Policy and in this Split Dollar Agreement to any person, entity, or trust established by the Executive or the Executive’s spouse.  If the Executive transfers all of the Executive’s interest in the Policy, all of the Executive’s interest in the Policy and in this Split Dollar Agreement shall be vested in the Executive’s transferee, who shall be substituted as a party hereunder and the Executive shall have no further interest in this Split Dollar Agreement.

Article 5
Insurer

The Insurer shall be bound by the terms of the Policy only.  Any payments the Insurer makes or actions it takes in accordance with the Policy shall fully discharge it from all claims, suits, and demands of all entities or persons.  The Insurer shall not be bound by or be deemed to have notice of the provisions of this Split Dollar Agreement.

Article 6
Claims Procedure

6.1    Claims Procedure.  Any person or entity who has not received benefits under this Split Dollar Agreement that he or she believes should be paid (the “claimant”) shall make a claim for such benefits as follows -

6.1.1    Initiation - written claim.  The claimant initiates a claim by submitting to the Plan Administrator a written claim for benefits.  If the claim relates to the contents of a notice received by the claimant, the claim must be made within 60 days after the notice was received by the 

claimant.  All other claims must be made within 180 days after the date of the event that caused the claim to arise.  The claim must state with particularity the determination desired by the claimant.

6.1.2    Timing of Plan Administrator response.  The Plan Administrator shall respond to the claimant within 90 days after receiving the claim.  If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 90 days by notifying the claimant in writing, before the end of the initial 90-day period, that an additional period is required.  The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.  

6.1.3    Notice of decision.  If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of the denial.  The Plan Administrator shall write the notification in a manner calculated to be understood by the claimant.  The notification shall set forth -

(a)    The specific reasons for the denial,
(b)    A reference to the specific provisions of this Split Dollar Agreement on which the denial is based,
(c)    A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed,
(d)    An explanation of the Split Dollar Agreement’s review procedures and the time limits applicable to such procedures, and
(e)    A statement of the claimant’s right to bring a civil action under ERISA section 502(a) after an adverse benefit determination on review.

6.2    Review Procedure.  If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial, as follows -

6.2.1    Initiation - written request.  To initiate the review, the claimant must file with the Plan Administrator a written request for review within 60 days after receiving the Plan Administrator’s notice of denial.

6.2.2    Additional submissions - information access.  The claimant shall then have the opportunity to submit written comments, documents, records, and other information relating to the claim.  Upon request and free of charge, the Plan Administrator shall also provide the claimant reasonable access to and copies of all documents, records, and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits.

6.2.3    Considerations on review.  In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim, without regard to whether the information was submitted or considered in the initial benefit determination.

6.2.4    Timing of Plan Administrator response.  The Plan Administrator shall respond in writing to the claimant within 60 days after receiving the request for review.  If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 60 days by notifying the claimant in writing before the end of the initial 60-day period that an additional period is required.  The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.

6.2.5    Notice of decision.  The Plan Administrator shall notify the claimant in writing of its decision on review.  The Plan Administrator shall write the notification in a manner calculated to be understood by the claimant.  The notification shall set forth -

(a)    The specific reasons for the denial,
(b)    A reference to the specific provisions of the Split Dollar Agreement on which the denial is based,
(c)    A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits, and
(d)    A statement of the claimant’s right to bring a civil action under ERISA section 502(a).

Article 7
Administration of Agreement

7.1    Plan Administrator Duties.  This Split Dollar Agreement shall be administered by a Plan Administrator consisting of the Bank’s board of directors or such committee or person as the board shall appoint.  The Executive may not be a member of the Plan Administrator.  The Plan Administrator shall have the discretion and authority to (x) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Split Dollar Agreement and (y) decide or resolve any and all interpretive and other questions that may arise.

7.2    Agents.  In the administration of this Split Dollar Agreement the Plan Administrator may employ agents and delegate to them such administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel, who may be counsel to the Bank.

7.3    Binding Effect of Decisions.  The decision or action of the Plan Administrator concerning any question of administration, interpretation, and application of the Split Dollar Agreement and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in this Split Dollar Agreement.

7.4    Indemnity of Plan Administrator.  The Bank shall indemnify and hold harmless the members of the Plan Administrator against any and all claims, losses, damages, expenses, or liabilities arising from any action or failure to act with respect to this Split Dollar Agreement, except in the case of willful misconduct by the Plan Administrator or any of its members.

8

7.5    Information.  To enable the Plan Administrator to perform its functions, the Bank shall supply full and timely information to the Plan Administrator on all matters relating to the date and circumstances of the retirement, death, or Separation from Service of the Executive, and such other pertinent information as the Plan Administrator may reasonably require.

Article 8
Miscellaneous

8.1    Amendment.  This Split Dollar Agreement may be amended solely by a written agreement signed by the Bank and by the Executive.

8.2    Termination.  This Split Dollar Agreement shall terminate if the Executive commits suicide within two years after the date of this Split Dollar Agreement or if the Executive makes a material misstatement of fact on any application for life insurance purchased by the Bank.  Despite any provision of this Split Dollar Agreement to the contrary, this Split Dollar Agreement also shall terminate upon distribution of the death benefit proceeds in accordance with section 2.2, and shall terminate if by the terms of section 2.2 of the [•] Split Dollar Agreement, as amended, the Executive’s employment termination causes the Executive to lose the right to designate the beneficiary of death proceeds.

8.3    Binding Effect.  This Split Dollar Agreement shall bind the Executive and the Bank and their beneficiaries, survivors, executors, administrators and transferees, and any Policy beneficiary.

8.4    No Guarantee of Employment.  This Split Dollar Agreement is not an employment policy or contract.  It does not give the Executive the right to remain an employee of the Bank nor does it interfere with the Bank’s right to discharge the Executive.  It also does not require the Executive to remain an employee or interfere with the Executive’s right to terminate employment at any time.

8.5    Successors; Binding Agreement.  By an assumption agreement in form and substance satisfactory to the Executive, the Bank shall require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business or assets of the Bank to expressly assume and agree to perform this Split Dollar Agreement in the same manner and to the same extent that the Bank would be required to perform this Split Dollar Agreement had no succession occurred.

8.6    Applicable Law.  The Split Dollar Agreement and all rights hereunder shall be governed by and construed according to the laws of the State of Georgia, except to the extent preempted by the laws of the United States of America.

8.7    Entire Agreement.  This Split Dollar Agreement constitutes the entire agreement between the Bank and the Executive concerning the subject matter hereof.  No rights are granted to the Executive under this Split Dollar Agreement other than those specifically set forth.

8.8    Severability.  If any provision of this Split Dollar Agreement is held invalid, the invalidity shall not affect any other provision of this Split Dollar Agreement not held invalid and each such other provision shall continue in full force and effect to the full extent consistent with law.  If any provision of this Split Dollar Agreement is held invalid in part, the invalidity shall not affect the remainder not held invalid, and the remainder of the provision, together with all other provisions of this Split Dollar Agreement, shall continue in full force and effect to the full extent consistent with law.

8.9    Headings.  Caption headings are included solely for convenience of reference and shall not affect the meaning or interpretation of any provision of this Split Dollar Agreement.

8.10    Notices.  All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such other address as either party may designate by like notice.  If to the Bank, notice shall be given to the board of directors, 

Fidelity Bank, 3490 Piedmont Road NE, Atlanta, Georgia 30305, or to such other or additional person or persons as the Bank designates to the Executive in writing.  If to the Executive, notice shall be given to the Executive at the address of the Executive appearing on the Bank’s records, or to such other or additional person or persons as the Executive designates to the Bank in writing.

In Witness Whereof, the Executive and a duly authorized Bank officer have executed this Split Dollar Agreement and Endorsement as of the date first written above.

		
	Executive
	Fidelity Bank

		
	                                            
	By:                                                       

[•]
		
	Title:
	                                                   

Agreement to Cooperate with Insurance Underwriting Incident to Internal Revenue Code section 1035 Exchange

I acknowledge that I have read the Split Dollar Agreement and Endorsement and agree to be bound by its terms, particularly the covenant on my part set forth in section 2.4 of the Split Dollar Agreement and Endorsement to provide medical information and cooperate with medical insurance-related testing required by an insurer to issue a comparable insurance policy to cover the benefit provided under this Split Dollar Agreement and Endorsement.

		
	                                           
	                                              

Witness                        [•]

Split Dollar Policy Endorsement

		
	Insured:
	[•]

		
	Insurer:
	[•]

		
	Policy No.
	[•]

According to the terms of Fidelity Bank Split Dollar Agreement and Endorsement dated as of                                            , 20             , the undersigned Owner requests that the above-referenced policy issued by the Insurer provide for the following beneficiary designation and limited contract ownership rights to the Insured:

1.    Upon the death of the Insured, proceeds shall be paid in one sum to the Owner, its successors or assigns, to the extent of the Owner’s interest in the policy.  It is hereby provided that the Insurer may rely solely upon a statement from the Owner as to the amount of proceeds it is entitled to receive under this paragraph.

2.    Any proceeds at the death of the Insured in excess of the amount paid under the provisions of the preceding paragraph shall be paid in one sum to:
	
	
	 

	Primary Beneficiary, Relationship/Social Security Number

	 

	Contingent Beneficiary, Relationship/Social Security Number

The exclusive rights to change the beneficiary for the proceeds payable under this paragraph and to assign all rights and interests granted under this paragraph are hereby granted to the Insured.  The sole signature of the Insured shall be sufficient to exercise the rights.  The Owner retains all contract rights not granted to the Insured under this paragraph.

3.    It is agreed by the undersigned that this designation and limited assignment of rights shall be subject in all respects to the contractual terms of the policy.

4.    Any payment directed by the Owner under this endorsement shall be a full discharge of the Insurer, and such discharge shall be binding on all parties claiming any interest under the policy.

5.    This Split Dollar Policy Endorsement supersedes and replaces any prior endorsements of the Insured relating to the above-referenced policy issued by the Insurer.

6.    The exercise by the Owner of the right to surrender the policy shall terminate the rights of the Insured.

7.    The Owner of the policy is Fidelity Bank.  The Owner alone may exercise all policy rights, except that the Owner will not have the rights specified in paragraph 2 of this Split Dollar Policy Endorsement.

The undersigned for the Owner is signing in a representative capacity and warrants that he or she has the authority to bind the entity on whose behalf this document is executed.

Signed at                                    , Georgia this           day of                                 , 20            .

		
	Insured:
	Owner:

Fidelity Bank

		
	                                                    
	By:                                                        

[•]                            Its:Exhibit

Exhibit 10(v)

AGREEMENT

THIS AGREEMENT (this “Agreement”) is made effective as of June 26, 2017, by and between STEPHEN H. BROLLY (“Executive”) and FIDELITY BANK and FIDELITY SOUTHERN CORPORATION (together the “Company”).  Executive and Company are sometimes hereinafter referred to together as the “Parties” and individually as a “Party.”

BACKGROUND:

A.    Executive and Company now mutually desire to provide for Executive’s resignation as Chief Financial Officer (“CFO”) of the Company effective as of the date set forth below and his continued employment as Executive Vice President for Finance (“EVP”) of the Company.  

B.     Company and Executive desire to enter into this Agreement to set forth the terms of Executive’s resignation as CFO of the Company and his continued employment as EVP of the Company.

NOW, THEREFORE, FOR AND IN CONSIDERATION of the premises, the mutual promises, covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

1.Resignation as CFO; Employment as EVP.  The Parties agree that (a) Executive hereby resigns as CFO, and continues his employment as EVP, of the Company effective as of June 26, 2017 (“Effective Date”) and (b) all benefits, privileges and authorities related to Executive’s employment as CFO with Company shall cease as of the Effective Date, except as otherwise specifically set forth in this Agreement. Notwithstanding any statement contained in this Agreement or otherwise, Executive’s employment as EVP of the Company will at all times be “at-will” which means that the employment relationship may be terminated by Executive or by the Company at any time, with or without cause. This Agreement is not intended to be an employment contract, and nothing herein will be deemed to grant Executive any right with respect to continued employment with the Company or any specific compensation not specifically set forth herein.
2.Future Cooperation.  Executive agrees that, notwithstanding his resignation as CFO, Executive will continue as EVP and, upon reasonable notice, will make himself available to Company or its designated representatives for the purposes of: (a) providing information regarding the projects and files on which Executive worked as CFO for the purpose of transitioning such projects; and (b) providing information regarding any other matter, file, project and/or client with whom Executive was involved while employed as CFO of the Company.
3.Compensation.  
(a)    In consideration for Executive’s agreement to fully release Company from any and all Claims as described below, to continue as EVP, and to perform the other duties and obligations of Executive contained herein and agree to the terms hereof, Company will:
(i)If Executive does not resign as EVP before January 2, 2018, Company shall:

1.continue to pay to Executive his current base salary in accordance with Company’s normal payroll practices (no less frequently than monthly), subject to required tax withholdings and other deductions;

2.pay to Executive any incentive compensation due for 2017 under that certain Incentive Compensation Agreement, effective January 1, 2015, by and between the Parties (the “Incentive Agreement”), if any is awarded, consistent with the terms of such Incentive Agreement;

3.amend Executive’s restricted stock Grant GR-141, which Company previously granted to Executive, to provide that the 8,333 shares of restricted stock, scheduled to vest on January 21, 2018, shall vest and become non-forfeitable as of the close of business on January 1, 2018, and be subject to applicable tax withholdings, notwithstanding any termination of Executive’s employment with Company after January 1, 2018; and

4.amend that certain Salary Continuation Agreement, dated December 23, 2014, by and between Company and Executive (the “SERP”), to provide that Executive will be vested with respect to no less than sixty percent (60%) of his accrued benefit under the SERP, which vested accrued benefit will be paid to Executive in accordance with the terms of such SERP (which, in case of a separation from service before age 65 and other than on death, disability or termination for cause, shall mean 180 equal monthly installments commencing with the later of (i) the 7th month following, May 21, 2018, instead of the date of the Executive’s separation from service,  or (ii) the month immediately following the month in which Executive attains age 65).

(ii)If Executive  resigns as EVP on or prior to January 1, 2018, he forfeits the payments and benefits described above in Section 3(a)(i); however, if Company elects to terminate Executive’s employment on or prior to January 1, 2018, he will receive  the payments and benefits described above in Section 3(a)(i).

(b)    Notwithstanding anything else contained herein to the contrary, no payments shall be made or benefits delivered under this Agreement (other than the payments required to be made by Company pursuant to Section 4 below), nor shall any of the agreements set forth in Section 3(a) above be effective, unless, within thirty (30) days after the Effective Date and again within thirty (30) days after the date the Executive’s employment terminates:  (i) Executive has signed and delivered to Company a Release in the form attached hereto as Exhibit A (the “Release”); and (ii) the applicable revocation period under the Release has expired without Executive having elected to revoke the Release.  Executive agrees and acknowledges that Executive would not be entitled to any such consideration absent execution of each Release and expiration of the applicable revocation period without Executive having revoked each such Release.  
(c)    As a further condition to receipt of the payments and benefits under the agreements set forth in Section 3(a) above, Executive also waives any and all rights to any other amounts payable to him upon the termination of his employment relationship with Company, other than those specifically set forth in this Agreement, including without limitation any severance, notice rights, payments, benefits and other amounts to which Executive may be entitled under the SERP, that certain Executive Continuity Agreement, effective January 1, 2015, by and between Executive, Company  and Fidelity Bank, the Incentive Agreement, that certain Split Dollar Life Insurance Agreement, effective [January 1, 2015] by and between Executive and Fidelity Bank or any other stock option, restricted stock or other compensation related agreement (collectively, the “Compensation Agreements”) and the laws of any jurisdiction, and Executive agrees not to pursue or claim any of such payments, benefits or rights.
4.Other Benefits.  Nothing in this Agreement or the Release shall:
(a)    alter or reduce any vested, accrued benefits (if any) Executive may be entitled to receive under the Company’s (i) 401(k) plan, and (ii) deferred compensation plan, with respect to which Executive participated prior to the Effective Date; 

(b)    affect Executive’s right (if any) to elect and pay for continuation of Executive’s health insurance coverage under Company’s health plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), as amended; 

(c)    affect Executive’s right (if any) to receive (i) any base salary that has accrued through the Effective Date and is unpaid and (ii) any reimbursable expenses that Executive has incurred before the Effective Date but are unpaid (subject to Company’s expense reimbursement policy); or 

(d)    affect Executive’s right to continue to receive his base salary and benefits through January 1, 2018, as in effect as of the date hereof, which base salary and benefits will continue through such date, except with respect to any changes in benefits that are applicable generally to the other executives of Company.  

5.Confidentiality of Agreement Terms.  Except as otherwise expressly provided in this Section 5, Executive agrees that this Agreement and the terms, conditions and amount of consideration set forth in this Agreement are and shall be deemed to be confidential and hereafter shall not be disclosed by Executive to any other person or entity.   The only disclosures excepted by this paragraph are (a) as may be required by law; (b) Executive may tell prospective employers the dates of Executive’s employment, positions held, evaluations received, Executive’s duties and responsibilities and salary history with Company; (c) Executive may disclose the terms and conditions of this Agreement to Executive’s attorneys and tax advisers; and (d) Executive may disclose the terms of this Agreement to Executive’s spouse, if any; provided, however, that any spouse, attorney or tax adviser learning about the terms of this Agreement must be informed about this confidentiality provision, and Executive will be responsible for any breaches of this confidentiality provision by his spouse, attorneys or tax advisers to the same extent as if Executive had directly breached this Agreement.  
6.Nonsolicitation.  Through June 26, 2018, Executive will not, directly or indirectly, individually, or on behalf of any Person other than the Company or a Subsidiary:
(a)solicit any Customers for the purpose of providing services identical to or reasonably substitutable for the Company’s Business; 
(b)solicit or induce, or in any manner attempt to solicit or induce, any Person employed by the Company to leave such employment, whether or not such employment is pursuant to a written contract with the Company or any Subsidiary or is at will; or
(c)knowingly or intentionally damage or destroy the goodwill and esteem of the Company, any Subsidiary, the Company’s Business or the Company’s or any Subsidiary’s suppliers, employees, patrons, customers, and others who may at any time have or have had relations with the Company or any Subsidiary.
For purposes of this Section 5, the following terms shall have the meanings specified below:
“Company’s Business” means the business of operating a commercial or retail bank, savings association, mutual thrift, credit union, trust company, securities brokerage or insurance agency.

“Customers” means all Persons that (1) Executive serviced or solicited on behalf of the Company or any Subsidiary, (2) whose dealings with the Company or any Subsidiary were coordinated or supervised, in whole or in part, by Executive, or (3) about whom Executive obtained Confidential Information, in each case during the term of this Agreement or while otherwise employed by the Company.

7.Restrictive Covenants.  Executive acknowledges and agrees to be bound by the restrictive covenants set forth in Section 6 above beginning on the Effective Date and ending June 26, 2018.  The foregoing non-solicitation provision in Section 6 above supersedes and replaces any other non-solicitation, non-competition, non-interference, and non-disparagement covenants applicable to Executive including, but not limited to, Sections 10, 11, and 12 of the Executive Continuity Agreement dated December 23, 2014.  Executive is not restricted to employment nor limited as to place of employment.  Notwithstanding any other provision of this Agreement, if Executive fails to comply with, or otherwise breaches any of the restrictive covenants set forth in Section 6, Executive will forfeit the right to receive any further amounts or benefits under this Agreement and any of the agreements set forth in Section 3(a) above and Executive agrees to return to the Company any amounts Executive previously received under the Agreement and any such agreements within thirty (30) days after Executive breaches, or fails to comply with, such terms.  In the event that the Company reasonably concludes that Executive has breached the terms of this Agreement, then the Company shall provide him with written notice of such breach and a thirty (30) day period to cure before terminating the benefits under this Agreement and/or demanding the return of the amounts previously received under this Agreement.

8.Reasonableness of Restrictions.  Executive agrees that the restrictive covenants set forth in Section 6 above are of the essence of their respective agreements; that each of the covenants is reasonable and necessary to protect the business, interests and properties of the Company, and that irreparable loss and damage will be suffered by the Company should Executive breach any of such covenants.  Therefore, through [June 26, 2018], if Executive violates any such restrictive covenants set forth in Section 6, then notwithstanding any other provision in this Agreement to the contrary, Executive agrees and consents that the Company shall be entitled to a temporary restraining order and temporary and permanent injunctions to prevent a breach or contemplated breach of any of such covenants.  The Company and Executive agree that all remedies hereunder shall be cumulative.  If any term of Section 6 above shall be held to be illegal or invalid by a court of competent jurisdiction, the remaining terms shall remain in full force and effect.  If any court of competent jurisdiction shall determine that the restrictions set forth in any provision of any such restrictive covenants or the application thereof are unenforceable in whole or in part because of the time of such restriction or provision, the parties hereto agree that such court in making such determination shall have the power to modify the time of such restriction or provision to the extent necessary to make it enforceable, and that the restriction or provision in its modified form shall be valid and enforceable to the full extent permitted by law.
9.Construction of Agreement and Venue for Disputes.  This Agreement shall be deemed to have been jointly drafted by the Parties and shall not be construed against either Party. This Agreement shall be governed by the law of the State of Georgia, and the Parties agree that any actions arising out of or relating to this Agreement or Executive’s employment with Company must be brought exclusively in either the United States District Court for the Northern District of Georgia, or the State or Superior Courts of Fulton County, Georgia.  Notwithstanding the pendency of any proceeding, either Party shall be entitled to injunctive relief in a state or federal court located in Fulton County, Georgia upon a showing of irreparable injury.  The Parties consent to personal jurisdiction and venue solely within these forums and solely in Fulton County, Georgia and waive all otherwise possible objections thereto.  The prevailing Party shall be entitled to recover its costs and attorneys fees from the non-prevailing Party in any such proceeding no later than ninety (90) days following the settlement or final resolution of any such proceeding.  The existence of any claim or cause of action by Executive against Company or Company’s subsidiaries or affiliates, including any dispute relating to the termination of Executive’s employment as CFO or under this Agreement, shall not constitute a defense to enforcement of said covenants by injunction.  
10.Severability.  If any provision of this Agreement shall be held void, voidable, invalid or inoperative, no other provision of this Agreement shall be affected as a result thereof, and accordingly, the remaining provisions of this Agreement shall remain in full force and effect as though such void, voidable, invalid or inoperative provision had not been contained herein.
11.No Reliance Upon Other Statements.  This Agreement is entered into without reliance upon any statement or representation of any Party hereto or any Party hereby released other than the statements and representations contained in writing in this Agreement (including all Exhibits hereto).  
12.Entire Agreement.  This Agreement, including all Exhibits hereto (which are incorporated herein by this reference), contains the entire agreement and understanding concerning the subject matter hereof between the Parties hereto.  No waiver, termination or discharge of this Agreement, or any of the terms or provisions hereof, shall be binding upon either Party hereto unless confirmed in writing.  This Agreement may not be modified or amended, except by a writing executed by both Parties hereto.  No waiver by either Party hereto of any term or provision of this Agreement or of any default hereunder shall affect such Party’s rights thereafter to enforce such term or provision or to exercise any right or remedy in the event of any other default, whether or not similar.
13.Further Assurance.  Upon the reasonable request of the other Party, each Party hereto agrees to take any and all actions, including, without limitation, the execution of certificates, documents or instruments, necessary or appropriate to give effect to the terms and conditions set forth in this Agreement.
14.No Assignment.  Neither Party may assign this Agreement, in whole or in part, without the prior written consent of the other Party, and any attempted assignment not in accordance herewith shall be null and void and of no force or effect.
15.Binding Effect.  This Agreement shall be binding on and inure to the benefit of the Parties and their respective heirs, representatives, successors and permitted assigns.
[Signature Page Follows]

IN WITNESS WHEREOF, the Parties have executed, or caused their duly authorized representatives to execute, this Agreement as of the 26th day of June 2017.

“Executive”

/s/Stephen H. Brolly                                                                           
Stephen H. Brolly

“Company”

FIDELITY SOUTHERN CORPORATION

By:    /s/James B. Miller                                                     
          James B. Miller, Jr. Chairman

FIDELITY BANK

By:   /s/H.Palmer Proctor, Jr.                                                         
         H. Palmer Proctor, Jr.
         President & Chief Executive Officer

EXHIBIT A
Form of Release

RELEASE

In consideration for the undertakings and promises set forth in that certain Agreement, dated as of June 26, 2017 (the “Agreement”), between STEPHEN H. BROLLY (“Executive”) and FIDELITY BANK AND FIDELITY SOUTHERN CORPORATION (together the “Company”), Executive (on behalf of himself and his heirs, assigns and successors in interest) unconditionally releases, discharges, and holds harmless Company and its subsidiaries and affiliates and their respective officers, directors, employees, agents, insurers, assigns and successors in interest (collectively, “Releasees”) from each and every claim, cause of action, right, liability or demand of any kind and nature, and from any claims which may be derived therefrom (collectively “Released Claims”), that Executive had, has, or might claim to have against Releasees at the time Executive executes this Agreement, whether presently known or unknown to Executive, including, without limitation, any and all claims listed below, other than any such claims Executive has or might have under the Agreement:

(a)    arising from Executive’s employment, pay, bonuses, vacation or any other Executive benefits, and other terms and conditions of employment or employment practices of Company;

(b)    arising out of or relating to the [resignation of Executive as Chief Financial Officer of Company] [termination of Executive’s employment with Company] or the surrounding circumstances thereof;

(c)    based on discrimination and/or harassment on the basis of race, color, religion, sex, national origin, handicap, disability, age or any other category protected by law under Title VII of the Civil Rights Act of 1964, the Civil Rights Acts of 1866, 1871 and 1991, Executive Order 11246, the Age Discrimination in Employment Act, the Older Workers Benefits Protection Act, the Equal Pay Act of 1963, the Americans With Disabilities Act of 1990, the Rehabilitation Act of 1973, COBRA (as any of these laws may have been amended), the Family and Medical Leave Act of 1993, the National Labor Relations Act, the Worker Adjustment Retraining Notification Act of 1988, the Employee Retirement Income Security Act of 1974 or any other similar labor, employment or anti-discrimination law under state, federal or local law;

(d)    based on any contract, tort, whistleblower, personal injury wrongful discharge theory or other common law theory; or

(e)    arising under any other written or oral agreements between Executive and Company or any of Company’s subsidiaries (other than the Agreement).

Executive covenants not to sue or initiate any claims against any of the Releasees on account of any Released Claim or to incite, assist or encourage other persons or entities to bring claims of any nature whatsoever against Company or Releasees.  Executive further covenants not to accept, recover or receive any monetary damages or any other form of relief which may arise out of or in connection with any administrative remedies which may be filed with or pursued independently by any governmental agency or agencies, whether federal, state or local.

By signing this Release, Executive certifies that:

(a)    Executive has carefully read and fully understands the provisions of this Release; 

(b)    Executive was advised by Company in writing, via this Release, to consult with an attorney before signing this Release;

(c)    Executive understands that any discussions he may have had with counsel for Company regarding his employment or this Release does not constitute legal advice to him and that he has retained his own independent counsel to render such advice;

(d)    Executive understands that this Agreement FOREVER RELEASES Company and all other Releasees from any legal action arising prior to the date of execution of this Agreement;

(e)    In signing this Agreement, Executive DOES NOT RELY ON AND HAS NOT RELIED ON ANY REPRESENTATION OR STATEMENT (WRITTEN OR ORAL) NOT SPECIFICALLY SET FORTH IN THIS RELEASE OR THE AGREEMENT by Company or any other Releasee, or by any of their agents, representatives, or attorneys with regard to the subject matter, basis, or effect of this Agreement or otherwise;

(f)    Company hereby allows Executive no less than twenty-one (21) days from its initial presentation to Executive to consider this Release before signing it, should Executive so desire; and

(g)    Executive agrees to its terms knowingly, voluntarily and without intimidation, coercion or pressure.

Executive may revoke this Release within seven (7) calendar days after signing it.  To be effective, such revocation must be received in writing by July 3, 2017 of Company at the offices of Company at 3490 Piedmont Rd NE, Suite 1550, Atlanta, GA, 30305.  Revocation can be made by hand delivery or facsimile before the expiration of this seven (7) day period.

[Signature Page Follows]
IN WITNESS WHEREOF, the undersigned has executed this Release as of the date set forth below.

“Executive”

                    
Stephen H. Brolly

Dated:  ______________, 2017

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