Document:

Incentive Stock Option Agreement

 EXHIBIT 10.18 
  
 INCENTIVE STOCK OPTION AGREEMENT 
 under the 
 CRESCENT BANKING COMPANY 
 2001 LONG-TERM INCENTIVE PLAN 
  

			
	Optionee:
        «name»                             
                                     
	
	Number Shares Subject to Option:
        «shares»                        
	
	Exercise Price per Share:
                «price»                     
           
	
	Date of Grant:
                        «grant»             
                               

  
 1. Grant of
Option. Crescent Banking Company (the “Company”) hereby grants to the Optionee named above (the “Optionee”), under the Crescent Banking Company 2001 Long-Term Incentive Plan (the “Plan”), an Incentive Stock Option
to purchase, on the terms and conditions set forth in this agreement (this “Option Agreement”), the number of shares indicated above of the Company’s $1.00 par value common stock (the “Stock”), at the exercise price per
share set forth above (the “Option”). Capitalized terms used herein and not otherwise defined shall have the meanings assigned such terms in the Plan. 
  

2. Vesting of Option. Unless the exercisability of the Option is accelerated in accordance with Article 13 of the Plan, the Option shall vest
(become exercisable) in accordance with the following schedule: 
  

			
	 Years of Service
 After Date of Grant

	 	 Percent of Option Shares
 Vested

  
 3. Period of Option
and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the
circumstances described in paragraphs (b), (c) and (d) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b), (c) and (d) below, it will automatically
become a Non-Qualified Stock Option: 
  
 (a) The Option shall
lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the “Expiration Date”). 

 (b) The Option shall lapse three months after the Optionee’s termination of employment for any
reason other than the Optionee’s death or Disability; provided, however, that if the Optionee’s employment is terminated by the Company for cause (as defined below, the Option shall lapse immediately. 
  
 (c) If the Optionee’s employment terminates by reason of Disability, the
Option shall lapse one year after the date of the Optionee’s termination of employment. 
  
 (d) If the Optionee dies while employed, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (c) above and before the Option otherwise lapses, the
Option shall lapse one year after the date of the Optionee’s death. Upon the Optionee’s death, the Option may be exercised by the Optionee’s beneficiary. 
  
 If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only
with respect to the shares that were otherwise vested on the Optionee’s termination of employment (including vesting by acceleration in accordance with Article 13 of the Plan). 
  
 The term “cause” as used herein shall mean gross neglect of duty, prolonged absence from duty without the consent
of the Company, intentionally engaging in any activity which is in conflict with or adverse to the business or other interests of the Company, willful misconduct on the part of Optionee, misfeasance or malfeasance of duty causing a violation of any
law which is reasonably determined to be detrimental to the Company, breach of a fiduciary duty owed to the Company or any material breach of an employment contract which has not been corrected by Optionee within (30) days after his receipt of
notice of such breach from the Company. 
  
 4. Exercise of
Option. The Option shall be exercised by written notice directed to the Corporate Secretary of the Company at the principal executive offices of the Company, in substantially the form attached hereto as Exhibit A, or such other form as
the Committee may approve. If the person exercising the Option is not the Optionee, such person shall also deliver with the notice of exercise appropriate proof of his or her right to exercise the Option. Unless the exercise is a broker-assisted
“cashless exercise” as described below, such written notice shall be accompanied by full payment in cash, shares of Stock previously acquired by the Optionee (which shares may be delivered by attestation or actual delivery of one or more
certificates), or any combination thereof, for the number of shares specified in such written notice; provided, however, that if shares of Stock are used to pay the exercise price, such shares must have been held by the Optionee for at least six
months. The Fair Market Value of the surrendered Stock as of the last trading day immediately prior to the exercise date shall be used in valuing Stock used in payment of the exercise price. To the extent permitted under Regulation T of the Federal
Reserve Board, and subject to applicable law, the Option may be exercised through a broker in a so-called “cashless exercise” whereby the broker sells the Option shares and delivers cash sales proceeds to the Company in payment of the
exercise price. In such 
  

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 case, the date of exercise may be deemed to be the date on which notice of exercise is received by the Company, and the
exercise price shall be delivered to the Company on the settlement date. 
  
 Subject to the terms of this Option Agreement, the Option may be exercised at any time and without regard to any other option held by the Optionee to purchase stock of the Company. No fractional shares of Stock shall
be issued upon exercise of the Option. 
  
 5. Limitation of
Rights. The Option does not confer to the Optionee or the Optionee’s personal representative any rights of a shareholder of the Company unless and until shares of Stock are in fact issued to such person in connection with the exercise of
the Option. Nothing in this Option Agreement shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate the Optionee’s employment at any time, nor confer upon the Optionee any right to continue in the
employ of the Company or any Subsidiary. 
  
 6. Stock
Reserve. The Company shall at all times during the term of this Option Agreement reserve and keep available such number of shares of Stock as will be sufficient to satisfy the requirements of this Option Agreement. 
  
 7. Optionee’s Covenant. The Optionee hereby agrees to use his
best efforts to provide services to the Company in a workmanlike manner and to promote the Company’s interests. 
  
 8. Restrictions on Transfer and Pledge. The Option may not be pledged, encumbered, or hypothecated to or in favor of any party other than the
Company or a Parent or Subsidiary, or be subject to any lien, obligation, or liability of the Optionee to any other party other than the Company or a Parent or Subsidiary. The Option is not assignable or transferable by the Optionee other than by
will or the laws of descent and distribution. The Option may be exercised during the lifetime of the Optionee only by the Optionee. 
  
 9. Restrictions on Issuance of Shares. If at any time the Board shall determine in its discretion, that listing, registration or qualification of
the shares of Stock covered by the Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition to the exercise of the Option, the
Option may not be exercised in whole or in part unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Board. 
  
 10. Plan Controls. The terms contained in the Plan are incorporated
into and made a part of this Option Agreement and this Option Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this
Option Agreement, the provisions of the Plan shall be controlling and determinative. 
  

 - 3 - 

 11. Successors. This Option Agreement shall be binding upon any successor of the Company, in
accordance with the terms of this Option Agreement and the Plan. 
  
 12. Severability. If any one or more of the provisions contained in this Option Agreement are invalid, illegal or unenforceable, the other provisions of this Option Agreement will be construed and enforced as if the invalid, illegal
or unenforceable provision had never been included. 
  
 13.
Notice. Notices and communications under this Option Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid. Notices to the Company must be
addressed to: 
  

	
	Crescent Banking Company
	251 Highway 515
	Jasper, Georgia 30143
	Attn: Corporate Secretary

  
 or any other address designated by the
Company in a written notice to the Optionee. Notices to the Optionee will be directed to the address of the Optionee then currently on file with the Company, or at any other address given by the Optionee in a written notice to the Company.

  
 14. Notification of Disposition. The Optionee agrees to
notify the Company in writing within 30 days of any disposition of shares of Stock acquired by the Optionee pursuant to the exercise of the Option, if such disposition occurs within two years of the date of grant, or one year of the date of
exercise, of the Option. The Company has the authority and the right to deduct or withhold, or require the Optionee to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes required by law to be withheld with respect
to any exercise of the Option or disposition of the shares. 
  
 15. Interpretation. It is the intent of the parties hereto that the Option qualify for incentive stock option treatment pursuant to, and to the extent permitted by, Section 422 of the Code. All provisions hereof are intended to have,
and shall be construed to have, such meanings as are set forth in applicable provisions of the Code and Treasury Regulations to allow the Option to so qualify. To the extent that such any portion of the Option fails to qualify for incentive stock
option treatment pursuant to Section 422 of the Code, such nonqualifying portion of the Option shall be Non-Qualified Stock Option, governed under Section 83 of the Code. 
  

 - 4 - 

 IN WITNESS WHEREOF, Crescent Banking Company, acting by and through its duly authorized officers, has
caused this Option Agreement to be executed, and the Optionee has executed this Option Agreement, all as of the day and year first above written. 
  

			
	CRESCENT BANKING COMPANY
		
	By:	 	  

	Name:	 	«signatory»
		
	Title:	 	«title»
	
	OPTIONEE:
	  
  

	                    «name»

  

 - 5 - 

 EXHIBIT A 
  

NOTICE OF EXERCISE OF OPTION TO PURCHASE 
 COMMON STOCK OF 
 CRESCENT BANKING COMPANY 
  

			
	Name:	 	____________________________________
	Address:	 	____________________________________
	_____________________________________________
	_____________________________________________
	Date:	 	_____________________________________

  
 Crescent Banking Company

 251 Highway 515 
 Jasper, Georgia 30143 
 Attn: Corporate Secretary 
  

			
	Re:	  	Exercise of Incentive Stock Option
	 	  	under the Crescent Banking Company 2001 Long-Term Incentive Plan

  
 I elect to purchase
                         shares of Common Stock of Crescent Banking Company (“Crescent”) pursuant to my Stock
Option Agreement dated                         . The exercise price of the Option is $
                 per share. 
  
 The purchase will take place on the Exercise Date, which will be (i) as soon as practicable following the date of this notice and all other necessary
forms and payments are received by Crescent, unless I specify a later date (not to exceed 30 days following the date of this notice), or (ii) in the case of a broker-assisted cashless exercise (as indicated below), the date of this notice.

  
 I acknowledge that I am not entitled to receive
any shares of Crescent Stock until I have paid the exercise price in full by one of the methods permitted below. 
  
 Payment of Exercise Price. On or before the Exercise Date (or, in the case of a Broker-assisted cashless exercise, on the settlement date
following the Exercise Date), I will pay the full exercise price in the form specified below (check one): 
  

	 	 ̈	Cash Only: by delivering a check to Crescent for $                 , which is the full
amount of the exercise price. 

  

	 	 ̈	Cash and Shares: by delivering a check to Crescent for $                  for part of
the exercise price. I will pay the balance of the exercise price by delivering to Crescent shares of Crescent Stock that I have owned for at least six months. (Such delivery may be made by attestation or by actual delivery of one or more stock
certificates duly endorsed for transfer.) If the number of shares of such Crescent Stock so delivered exceeds the number needed to pay the exercise price, Crescent will issue me a new stock certificate for the excess. 

	 	 ̈	Shares Only: by delivering to Crescent shares of Crescent Stock that I have owned for at least six months, which shares have a Fair Market Value as of the Exercise Date equal
to the full exercise price of the Option. (Such delivery may be made by attestation or by actual delivery of one or more stock certificates duly endorsed for transfer.) If the number of shares of such Crescent Stock so delivered exceeds the number
needed to pay the exercise price, Crescent will issue me a new stock certificate for the excess. 

  

	 	 ̈	Cash From Broker: by delivering the exercise price from
                                        
        , a broker, dealer or other “creditor” as defined by Regulation T issued by the Board of Governors of the Federal Reserve System (the “Broker”). I authorize Crescent to issue a
stock certificate in the number of shares indicated above in accordance with instructions received by Crescent from the Broker and to deliver such stock certificate directly to the Broker (or to any other party specified in the instructions from the
Broker) upon receiving the exercise price from the Broker. 

  
 Please deliver the stock certificate to me (unless I have chosen to pay the exercise price through a Broker). 
  

	
	 Very truly yours,

	  

  

			
	AGREED TO AND ACCEPTED:
	
	CRESCENT BANKING COMPANY
		
	By:	 	  

		
	Title:	 	  

			
	
	Number of Option Shares
	Exercised:	 	  

	
	Number of Option Shares
	Remaining:	 	  

			
		
	Date:	 	  

  

 - 2 -Form of Director Supplemental Retirement Plan Agreement

 EXHIBIT 10.19 
  
 DIRECTOR SUPPLEMENTAL RETIREMENT PLAN 
  
 DIRECTOR AGREEMENT 
  
 THIS AGREEMENT is made and entered into this     th day of
            , 200    , by and between Crescent Bank and Trust Company, a bank organized and existing under the laws of the State of Georgia (hereinafter
referred to as the “Bank”), and                     , a member of the Board of Directors of the Bank (hereinafter referred to as the
“Director”). 
  
 WHEREAS, the Director is now on the
Board of the Bank (hereinafter referred to as the “Board”) and has for many years faithfully served the Bank. It is the consensus of the Board of Directors that the Director’s services have been of exceptional merit, in excess of the
compensation paid and an invaluable contribution to the profits and position of the Bank in its field of activity. The Board further believes that the Director’s experience, knowledge of corporate affairs, reputation and industry contacts are
of such value, and the Director’s continued services so essential to the Bank’s future growth and profits, that it would suffer severe financial loss should the Director terminate their service on the Board; 
  
 ACCORDINGLY, the Board has adopted the Crescent Bank and Trust Company
Director Supplemental Retirement Plan (hereinafter referred to as the “Director Plan”) and it is the desire of the Bank and the Director to enter into this agreement which the Bank will agree to make certain payments to the Director upon
the Director’s retirement and to the Director’s beneficiary(ies) in the event of the Director’s death pursuant to the Director Plan; 
  
 FURTHERMORE, it is the intent of the parties hereto that this Director Plan be considered an unfunded arrangement maintained primarily to provide
supplemental retirement benefits for the Director, and to be considered a non-qualified benefit plan for purposes of the Employee Retirement Security Act of 1974, as amended (“ERISA”). The Director is fully advised of the Bank’s
financial status and has had substantial input in the design and operation of this benefit plan; and 
  
 NOW THEREFORE, in consideration of services the Director has performed in the past and those to be performed in the future, and based upon the mutual
promises and covenants herein contained, the Bank and the Director agree as follows: 
  

	I.	DEFINITIONS 

  

	 	A.	Effective Date: 

  
 The Effective Date of the Plan shall be
                    , 200    . 

	 	B.	Plan Year: 

  
 Any reference to the “Plan Year” shall mean a calendar year from January 1st to December 31st. In the year of implementation, the term the
“Plan Year” shall mean the period from the Effective Date to December 31st of the year of the Effective Date. 
  

	 	C.	Retirement Date: 

  
 Retirement Date shall mean retirement from service with the Bank which becomes effective on the first day of the calendar month following the month in
which the Director reaches age Sixty-Five (65) or such later date as the Director may actually retire. 
  

	 	D.	Termination of Service: 

  
 Termination of Service shall mean the Director’s voluntary resignation from service on the Board or failure of re-election to the Board, prior to
the Normal Retirement Age [Subparagraph I (J)]. 
  

	 	E.	Pre-Retirement Account: 

  
 A Pre-Retirement Account shall be established as a liability reserve account on the books of the Bank for the benefit of the Director. Prior to the
Director’s Termination of Service or the Director’s retirement, whichever event shall first occur, such liability reserve account shall be increased or decreased each Plan Year, until the aforestated event occurs, by the Index Retirement
Benefit [Subparagraph I (F)]. 
  

	 	F.	Index Retirement Benefit: 

  
 The Index Retirement Benefit for each Director in the Director Plan for each Plan Year shall be equal to the excess (if any) of the Index [Subparagraph I
(G)] for that Plan Year over the Cost of Funds Expense [Subparagraph I (H)] for that Plan Year, divided by a factor equal to 1.11 minus the marginal tax rate. 
  

	 	G.	Index: 

  
 The Index for any Plan Year shall be the aggregate annual after-tax income from the life insurance contract(s) described herein below as defined by FASB
Technical Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on the Effective Date of the Director Plan. 
  

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	 Insurance Company:

	 Policy Form:

	 Policy Name:

	 Insured’s Age and Sex:

	 Riders:

	 Ratings:

	 Option:

	 Face
Amount:                                $

	 Premiums
Paid:                              $

	 Number of Premium Payments:

	 Assumed Purchase Date:

	
	 Insurance Company:

	 Policy Form:

	 Policy Name:

	 Insured’s Age and Sex:

	 Riders:

	 Ratings:

	 Option:

	 Face
Amount:                                $

	 Premiums
Paid:                              $

	 Number of Premium Payments:

	 Assumed Purchase Date:

  
 If such contracts of
life insurance are actually purchased by the Bank, then the actual policies as of the dates they were actually purchased shall be used in calculations under this Director Plan. If such contracts of life insurance are not purchased or are
subsequently surrendered or lapsed, then the Bank shall receive annual policy illustrations that assume the above-described policies were purchased, or had not subsequently surrendered or lapsed, which illustrations will be received from the
respective insurance companies and will indicate the increase in policy values for purposes of calculating the amount of the Index. 
  
 In either case, references to the life insurance contracts are merely for purposes of calculating a benefit. The Bank has no obligation to purchase such
life insurance and, if purchased, the Directors and their beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this Director Plan than that of an unsecured creditor of the
Bank. 
  

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	 	H.	Cost of Funds Expense: 

  
 The Cost of Funds Expense for any Plan Year shall be calculated by taking the sum of the amount of premiums for the life insurance policies described in
the definition of “Index” plus the amount of any after-tax benefits paid to any Director pursuant to the Director Plan (Paragraph II hereinafter) plus the amount of all previous years after-tax Costs of Funds Expense, and multiplying that
sum by the average Federal Funds for the Plan Year as quoted in the Wall Street Journal. 
  

	 	I.	Change of Control: 

  
 Change of Control means the cumulative transfer of more than fifty percent (50%) of the voting stock of the Bank from the Effective Date of this Director
Plan. For the purposes of this Director Plan, transfers on account of deaths or gifts, transfers between family members or transfers to a qualified retirement plan maintained by the Bank shall not be considered in determining whether there has been
a Change of Control. 
  

	 	J.	Normal Retirement Age: 

  
 Normal Retirement Age shall mean the date on which the Director attains age Sixty-Five (65). 
  

	II.	INDEX BENEFITS 

  

	 	A.	Retirement Benefits: 

  
 Subject to Subparagraph II (D) hereinafter, a Director who remains on the Board until the Normal Retirement Age [Subparagraph I (J)] shall be entitled to
receive the balance in the Pre-Retirement Account in ten (10) equal annual installments commencing thirty (30) days following the Director’s retirement. In addition to these payments and commencing in conjunction therewith, the Index Retirement
Benefit [as defined in Subparagraph I (F)] for each Plan Year subsequent to the Director’s retirement, and including the remaining portion of the Plan Year following said retirement, shall be paid to the Director until the Director’s
death. 
  

	 	B.	Termination of Service: 

  
 Subject to Subparagraph II (D), should a Director suffer a Termination of Service the Director shall be entitled to receive ten percent (10%) times the
number of full years of service with the Bank from the date of first service with the Bank (to a maximum of 100%), times the balance in the Pre-Retirement Account payable to the Director in ten (10) equal annual 
  

 4 

 installments commencing thirty (30) days following the Director’s Normal Retirement Age
[Subparagraph I (J)]. In addition to these payments and commencing in conjunction therewith, ten percent (10%) times the number of full years of service with the Bank from the date of first service with the Bank, (to a maximum of 100%), times the
Index Retirement Benefit for each Plan Year subsequent to the year in which the Director attains Normal Retirement Age, and including the remaining portion of the Plan Year in which the Director attains Normal Retirement Age, shall be paid to the
Director until the Director’s death. 
  

	 	C.	Death: 

  
 Should the Director die prior to having received the balance of the Pre-Retirement Account the Director may be entitled to under the terms of this
Director Plan, the entire unpaid balance of the Director’s Pre-Retirement Account shall be paid in a lump sum to the individual or individuals the Director may have designated in writing and filed with the Bank. In the absence of any effective
designation of beneficiary(ies), the unpaid balance shall be paid as set forth herein to the duly qualified executor or administrator of the Director’s estate. Said payment due hereunder shall be made the first day of the second month following
the decease of the Director. Provided, however, that anything hereinabove to the contrary notwithstanding, no death benefit shall be payable hereunder if the Director dies on or before the     st day of
            , 200    . 
  

	 	D.	Discharge for Cause: 

  
 Should the Director be Discharged for Cause at any time, all benefits under this Director Plan shall be forfeited. The term “for cause” shall
mean any of the following that result in an adverse effect on the Bank: (i) gross negligence or gross neglect; (ii) the commission of a felony or gross misdemeanor involving moral turpitude, fraud, or dishonesty; (iii) the willful violation of any
law, rule, or regulation (other than a traffic violation or similar offense); (iv) an intentional failure to perform stated duties; or (v) a breach of fiduciary duty involving personal profit. If a dispute arises as to discharge “for
cause,” such dispute shall be resolved by arbitration as set forth in this Director Plan. 
  

	 	E.	Death Benefit: 

  
 Except as set forth above, there is no death benefit provided under this Agreement. 
  

 5 

	 	F.	Disability Benefit: 

  
 In the event the Executive becomes disabled prior to any Termination of Service, and the Executive’s employment is terminated because of such
disability, he shall immediately begin receiving the benefits in Subparagraph II (A) above. Such benefit shall begin without regard to the Executive’s Normal Retirement Age and the Executive shall be one hundred percent (100%) vested in the
entire benefit amount. If there is a dispute regarding whether the Executive is disabled, such dispute shall be resolved by a physician selected by the Bank and such resolution shall be binding upon all parties to this Agreement. 
  

	III.	DEFERRAL BENEFITS 

  

	 	A.	Deferral Election: 

  
 Any Director wishing to defer any portion or all of the Director’s fees may elect to defer up to one hundred percent (100%) of said fees each year
for a maximum of five (5) years. At the end of the five year period, the Board shall have the option of extending the deferral period for any amount of time it shall deem to be appropriate. The Director will make the election to defer by filing with
the Bank a written statement setting forth the amount of the deferrals and the Director’s election of payment as set forth in Subparagraph III (C) hereinafter. This statement must be filed prior to having earned the deferred income. 

 

	 	B.	Deferred Compensation Account: 

  
 The Bank shall establish a Deferred Compensation Account in the name of the Director and credit that account with the deferrals. The Bank shall also
credit interest to the Deferred Compensation Account balance on December 31st of each year. The interest rate credited shall be one hundred and fifty percent (150%) of the average annualized yield of a one year treasury bill for the Plan Year.

  

	 	C.	Retirement, Termination of Service or Death: 

  
 Upon the Director’s Retirement Date or Termination of Service from the Board (Subparagraphs I (C) and (D) hereinabove), the balance of the
Director’s Deferred Compensation Account shall be payable as elected by the Director one (1) year prior to receiving said benefit payable to the Director thirty (30) days following said event. If the Director fails to make said payment
election, then the Director shall be paid in ten (10) equal 
  

 6 

 annual installments as set forth herein. Should the Director die while there is a balance in the
Director’s Deferred Compensation Account, such balance shall be paid pursuant to Subparagraph II (C) hereinabove. 
  

	IV.	RESTRICTIONS UPON FUNDING 

  
 The Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Director Plan. The
Directors, their beneficiary(ies), or any successor in interest shall be and remain simply a general creditor of the Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. 
  
 The Bank reserves the absolute right, at its sole discretion, to either fund
the obligations undertaken by this Director Plan or to refrain from funding the same and to determine the extent, nature and method of such funding. Should the Bank elect to fund this Director Plan, in whole or in part, through the purchase of life
insurance, mutual funds, disability policies or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall any Director be deemed to have any lien nor right,
title or interest in or to any specific funding investment or to any assets of the Bank. 
  
 If the Bank elects to invest in a life insurance, disability or annuity policy upon the life of the Director, then the Director shall assist the Bank by freely submitting to a physical exam and supplying such
additional information necessary to obtain such insurance or annuities. 
  

	V.	CHANGE OF CONTROL 

  
 Upon a Change of Control [Subparagraph I (I)], if the Director subsequently suffers a Termination of Service [Subparagraph I (D)], then the Director shall
receive the benefits promised in this Director Plan upon attaining Normal Retirement Age, as if the Director had been continuously serving the Bank until the Director’s Normal Retirement Age. The Director will also remain eligible for all
promised death benefits in this Director Plan. In addition, no sale, merger, or consolidation of the Bank shall take place unless the new or surviving entity expressly acknowledges the obligations under this Director Plan and agrees to abide by its
terms. 
  

 7 

	VI.	MISCELLANEOUS 

  

	 	A.	Alienability and Assignment Prohibition: 

  
 Neither the Director, nor the Director’s surviving spouse, nor any other beneficiary(ies) under this Director Plan shall have any power or right to
transfer, assign, anticipate, hypothecate, mortgage, commute, modify or otherwise encumber in advance any of the benefits payable hereunder nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or
separate maintenance owed by the Director or the Director’s beneficiary(ies), nor be transferable by operation of law in the event of bankruptcy, insolvency or otherwise. In the event the Director or any beneficiary attempts assignment,
commutation, hypothecation, transfer or disposal of the benefits hereunder, the Bank’s liabilities shall forthwith cease and terminate. 
  

	 	B.	Binding Obligation of the Bank and any Successor in Interest: 

  
 The Bank shall not merge or consolidate into or with another bank or sell substantially all of its assets to another bank, firm or person until such
bank, firm or person expressly agrees, in writing, to assume and discharge the duties and obligations of the Bank under this Director Plan. This Director Plan shall be binding upon the parties hereto, their successors, beneficiaries, heirs and
personal representatives. 
  

	 	C.	Amendment or Revocation: 

  
 It is agreed by and between the parties hereto that, during the lifetime of the Director, this Director Plan may be amended or revoked at any time or
times, in whole or in part, by the mutual written consent of the Director and the Bank. 
  

	 	D.	Gender: 

  
 Whenever in this Director Plan words are used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter
gender, whenever they should so apply. 
  

	 	E.	Effect on Other Bank Benefit Plans: 

  
 Nothing contained in this Director Plan shall affect the right of the Director to participate in or be covered by any qualified or non-qualified pension,
profit-sharing, group, bonus or other supplemental compensation or fringe benefit plan constituting a part of the Bank’s existing or future compensation structure. 
  

 8 

	 	F.	Headings: 

  
 Headings and subheadings in this Director Plan are inserted for reference and convenience only and shall not be deemed a part of this Director Plan.

  

	 	G.	Applicable Law: 

  
 The validity and interpretation of this Agreement shall be governed by the laws of the State of Georgia. 
  

	 	H.	12 U.S.C. § 1828(k): 

  
 Any payments made to the Director pursuant to this Director Plan, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C.
§ 1828(k) or any regulations promulgated thereunder. 
  

	 	I.	Partial Invalidity: 

  
 If any term, provision, covenant, or condition of this Director Plan is determined by an arbitrator or a court, as the case may be, to be invalid, void,
or unenforceable, such determination shall not render any other term, provision, covenant, or condition invalid, void, or unenforceable, and the Director Plan shall remain in full force and effect notwithstanding such partial invalidity. 

 

	 	J.	Continuation as Director: 

  
 Neither this Agreement nor the payment of any benefits thereunder shall be construed as giving to the Director any right to be retained as a member of
the Board of Directors of the Bank. 
  

	VII.	ERISA PROVISION 

  

	 	A.	Named Fiduciary and Plan Administrator: 

  
 The “Named Fiduciary and Plan Administrator” of this Director Plan shall be Crescent Bank and Trust Company until its resignation or removal by
the Board. As Named Fiduciary and Plan Administrator, the Bank shall be responsible for the management, control and administration of the Director Plan. The Named Fiduciary may delegate to others certain aspects of the management and operation
responsibilities of the Director Plan including the employment of advisors and the delegation of ministerial duties to qualified individuals. 
  

 9 

	 	B.	Claims Procedure and Arbitration: 

  
 In the event a dispute arises over benefits under this Director Plan and benefits are not paid to the Director (or to the Director’s
beneficiary(ies) in the case of the Director’s death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Named Fiduciary and Plan Administrator named above within sixty (60) days from
the date payments are refused. The Named Fiduciary and Plan Administrator shall review the written claim and if the claim is denied, in whole or in part, they shall provide in writing within sixty (60) days of receipt of such claim its specific
reasons for such denial, reference to the provisions of this Director Plan upon which the denial is based and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to
be taken by claimants if a further review of the claim denial is desired. A claim shall be deemed denied if the Named Fiduciary and Plan Administrator fail to take any action within the aforesaid sixty-day period. 
  
 If claimants desire a second review they shall notify the Named Fiduciary
and Plan Administrator in writing within sixty (60) days of the first claim denial. Claimants may review this Director Plan or any documents relating thereto and submit any written issues and comments it may feel appropriate. In their sole
discretion, the Named Fiduciary and Plan Administrator shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and
shall include reference to specific provisions of the Plan Agreement upon which the decision is based. 
  
 If claimants continue to dispute the benefit denial based upon completed performance of this Director Plan or the meaning and effect of the terms and
conditions thereof, then claimants may submit the dispute to an Arbitrator for final arbitration. The Arbitrator shall be selected by mutual agreement of the Bank and the claimants. The Arbitrator shall operate under any generally recognized set of
arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Arbitrator with respect to any controversy properly submitted to it for determination.

  
 Where a dispute arises as to the Bank’s discharge of
the Director “for cause,” such dispute shall likewise be submitted to arbitration as above-described and the parties hereto agree to be bound by the decision thereunder. 
  

 10 

	VIII.	TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW, RULES OR REGULATIONS 

  
 The Bank is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will
continue in effect in their current form. If any said assumptions should change and said change has a detrimental effect on this Director Plan, then the Bank reserves the right to terminate or modify this Agreement accordingly. Provided, however,
that the Director shall be entitled to receive at least his/her Director’s Deferred Compensation Account including interest earned. Upon a Change of Control [Subparagraph I (I)], this paragraph shall become null and void effective immediately
upon said Change of Control. 
  
 IN WITNESS WHEREOF, the parties
hereto acknowledge that each has carefully read this Agreement and executed the original thereof on the     th day of             ,
200    , and that, upon execution, each has received a conforming copy. 
  

							
	 	 	 	 	 CRESCENT BANK AND

	 	 	 	 	 TRUST COMPANY

	 	 	 	 	 Jasper, Georgia

				
	  

	 	 	 	 By:
	 	  

	 Witness
	 	 	 	 	 	             Title

			
	
	 	 	 	

	 Witness
	 	 	 	 [Director]

  

 11 

 BENEFICIARY DESIGNATION FORM 
 FOR THE DIRECTOR SUPPLEMENTAL 
 RETIREMENT PLAN AGREEMENT 
  
 PRIMARY DESIGNATION: 
  

					
	 Name

	 	 Address

	 	 Relationship

	
	 _____________________________________________________________________________________________________________________

	
	 _____________________________________________________________________________________________________________________

	
	 _____________________________________________________________________________________________________________________

  
 SECONDARY (CONTINGENT) DESIGNATION:

  

	
	
	 _____________________________________________________________________________________________________________________

	
	 _____________________________________________________________________________________________________________________

	
	 _____________________________________________________________________________________________________________________

  
 All sums payable under the Director
Supplemental Retirement Plan Director Agreement by reason of my death shall be paid to the Primary Beneficiary, if he or she survives me, and if no Primary Beneficiary shall survive me, then to the Secondary (Contingent) Beneficiary. 
  

					
	
	 	 	 	

	 [Director]
	 	 	 	 Date

  

 12 

 DEFERRAL DECLARATION 
  

	I.	AUTHORIZATION AND AMOUNT OF DEFERRAL 

  
 The undersigned                     , a
Director of the Board of Crescent Bank and Trust Company hereby elects to defer              ($ or percent) of the Director’s income for the year
             and all subsequent years thereafter pursuant to the Director Supplemental Retirement Plan Director Agreement effective the     st day of
            , 200    , unless modified by the Director accordingly. The undersigned is a party to the above referenced agreement. 
  

	II.	DISTRIBUTION ELECTION 

  
 Pursuant to the Provisions of my Director Supplemental Retirement Plan Director Agreement with Crescent Bank and Trust Company, I hereby elect to have any
distribution of the balance in my Deferral Account paid to me in installments as designated below: 
  

			
	 ______    
	 	Lump sum.
		
	 ______
	 	Five (5) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then
remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account.
		
	 ______
	 	Ten (10) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then
remaining to be paid, with the final installment to be the entire remaining balance in the Benefit Account.

  

 13 

			
	 ______    
	 	Fifteen (15) annual installments with the amount of each installment determined as of each installment date by dividing the entire amount in my Benefit Account by the number of installments then
remaining to paid, with the final installment to be the entire remaining balance in the Benefit Account.
		
	 ______
	 	The aforestated length of time for payments in monthly installments.

  

									
	 Date:
	 	  

	 	 	 	 Director:
	 	

	 	 	 	 	 	 	 	 	             [Director]

  

 14

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