Document:

EXHIBIT 10.11 TO FORM 10-KSB

                         FOUR OAKS BANK & TRUST COMPANY

                         EXECUTIVE EMPLOYMENT AGREEMENT

         THIS AGREEMENT is entered into as of this 26 day of January, 1995, by
                                                   --        -------
         and between FOUR OAKS BANK & TRUST COMPANY, a North Carolina banking

        corporation (the "Bank"), and NANCY S. WISE, ("Employee").

WITNESSETH
         WHEREAS, the Bank desires that Employee continue as an employee of the

Bank serving as its Chief Financial Officer; and

         WHEREAS, Employee desires to continue as an employee of the Bank

serving as the Bank's Chief Financial Officer;

         NOW, THEREFORE, in consideration of the premises and of the mutual

convenants contained in this Agreement, the Bank and Employee agree as follows:

         1. Employment. Commencing on the date of this Agreement, Employee is

employed by the Bank as its Chief Financial Officer with the duties,

responsibilities and powers of such office as assigned to her as of the date of

this Agreement and as customarily associated with such office.

         2. Term. The term of this Agreement shall commence on the date of this

Agreement and shall terminate on December 31, 1995 and shall, unless terminated

otherwise as set forth in this Agreement, be automatically extended on December

31, 1995 and each anniversary of such date for an additional term of one (1)

year unless such automatic extension is declined by either party by notice given

not less than ninety (90) days before the end of the then current term of this

Agreement.

         3. Compensation and Benefits. In consideration of her services during

the term of this Agreement, Employee shall be paid compensation and benefits by

the Bank as follows:

(a) Base  Salary.  Employee  will  receive an annual base salary of  Sixty-Three

Thousand Six Hundred Seventy-Three Dollars and Eight cents ($63,673.08), payable

in monthly  installments.  Commencing January 1, 1996, and annually  thereafter,

Employee will be entitled to receive such increases in her annual base salary as

may be approved by the Board of Directors of the Bank,  with each

<PAGE>

such  increase thereafter being included in her annual base salary for all

purposes.

                  (b) Additional Benefits. Employee shall be entitled to receive

and to participate, subject to any eligibility requirements, in all benefits

generally made available to the Bank's officers and also those generally made

available to all salaried employees of the Bank including, but not limited to,

insurance benefits, vacation, sick leave, and reimbursement of expenses incurred

on behalf of the Bank in the course of performing duties under this Agreement.

         4.       Termination. Employee's employment under this Agreement shall

                  terminate:

                  (a) Upon the death of Employee;

                  (b) Upon written notice from the Bank to Employee in the event

of illness or other disability incapacitating her from performing her duties for

six (6) consecutive months as determined in good faith by the Chief Executive

Officer of the Bank, the Board of Directors of the Bank, or a committee of the

Board;

                  (c) For cause upon written notice from the Bank ("Cause" for

this purpose means (i) the willful and continued failure by Employee for a

significant period of time substantially to perform her duties with the Bank

(other than any such failure resulting from her disability) after a demand for

substantial performance is delivered to Employee by the Bank's Chief Executive

Officer, Board of Directors, or a committee of the Board which specifically

identifies the manner in which the Chief Executive Officer or Board of Directors

believes that Employee has not substantially performed her duties, (ii) the

willful engaging by Employee in gross misconduct materially and demonstratively

injurious to the Bank or (iii) the conviction of Employee of any crime involving

fraud or dishonesty); or (d) Upon thirty (30) days notice from Employee to Bank

at any time within two (2) years following a change in control of the Bank.

"Change in control" means one or more of the following occurrences:

                      (i) A corporation, person or group acting in concert as

described in Section 13(d)(2) of the Securities

Exchange Act of 1934, as amended ("Exchange Act"), holds or acquires beneficial

ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act of

a number of shares of voting capital stock of the Bank which constitutes either

(A) more than fifty percent (50%) of the shares which voted in the election of

directors of the Bank at the shareholders' meeting immediately preceding such

determination, or (B) more than thirty-three percent (33%) of the Bank's then

outstanding shares entitled to vote.

<PAGE>

                      (ii) A merger or consolidation to which the Bank is a

party (other than a pro forma transaction for a purpose such as changing the

state of incorporation or name of the Bank), if either (A) the Bank is not the

surviving corporation, or (B) the directors of the Bank immediately before the

merger or consolidation constitute less than a majority of the Board of

Directors of the Surviving Corporation; provided, however, the occurrence

described in clause (A) shall not constitute a change in control if the holders

of the Bank's voting capital stock immediately before the merger or

consolidation have the same proportional ownership of voting capital stock of

the surviving corporation immediately after the merger or consolidation.

                      (iii) All or substantially all of the assets of the Bank

are sold, leased, or disposed of in one transaction or a series of related

transactions.
                      (iv) An agreement, plan, contract, or other arrangement is

entered into providing any occurrence which, as defined in this Agreement, would

constitute a change in control.

         The Bank hereby represents, warrants, and agrees that it shall give

prompt notice to Employee immediately upon learning of the consummation of any

of the events set forth in Paragraph 4(d) of this Agreement. If the Bank fails

to give such notice to Employee, the Bank shall be estopped from contesting, and

shall not contest, the adequacy of timeliness of any notice Employee may be

allowed or required to give following a change in control of the Bank.

         5. Non-Assignability. This Agreement shall not be assignable by

Employee. This Agreement shall not be assignable by the Bank without the prior

written consent of Employee except to a corporation which is the surviving

entity in any merger involving the Bank or to a corporation which acquires all

or substantially all of the stock or assets of the Bank.

         6. Modification. This Agreement sets forth all the terms and conditions

of the employment agreement between Employee and the Bank and can be modified

only by a writing signed by both parties. No waiver by either party to this

Agreement at any time of any breach of the other party of, or compliance with,

any condition or provision of this Agreement to be performed by such other party

shall be deemed a waiver of similar or dissimilar provisions or conditions at

the same or at any prior or subsequent time.

         7. Counterparts; Construction. This Agreement may be executed in

several identical counterparts, each of which when so executed shall be deemed

an original, but all such counterparts

<PAGE>

shall constitute one and the same instrument. This Agreement shall be governed

by, and construed and enforced in accordance with, the laws of the State of

North Carolina.

         8. Severability. Should any provision of this Agreement be declared to

be invalid for any reason or to have ceased to be binding on the parties, such

provision shall be severed, and all other provisions shall be effective and

binding.

         9. Notice. All necessary notices, demands and requests required or

permitted under this Agreement shall be in writing and shall be deemed to have

been duly given if delivered in person or mailed by certified mail, postage

prepaid, addressed as follows:

                  (a)  If to Employee:           Nancy S. Wise
                                                 79 Vinson Road
                                                 Clayton, North Carolina 27520

                  (b)  If to Bank:               Four Oaks Bank & Trust Company
                                                 6144 US 301 South
                                                 Four Oaks, North Carolina 27524

        or to such other addresses as shall be furnished by either party.

         IN WITNESS WHEREOF, the parties have duly executed this Agreement as of

the day and year first above written.

FOUR OAKS BANK & TRUST COMPANY

                                         By:   /s/ Ayden R. Lee, Jr. President
                                               & CEO
                                               --------------------------------
                                               Authorized Officer

      ATTEST:

          /s/ Wanda C. Jones
          ------------------
          Secretary
      [SEAL]

                                    /s/ Nancy S. Wise
                                    ------------------------------
                                    NANCY S. WISE
                                    EmployeeEXHIBIT 10.12 TO FORM 10-KSB

                         FOUR OAKS BANK & TRUST COMPANY

                        SEVERANCE COMPENSATION AGREEMENT

         THIS AGREEMENT is entered into as of this 26 day of January, 1995, by

and between FOUR OAKS BANK & TRUST COMPANY, a North Carolina banking corporation

(the "Bank"), and NANCY S. WISE, ("Employee").WITNESSETH

         WHEREAS, the Bank considers the maintenance of a vital management group

to be essential to protecting and enhancing the best interests of the Bank and

its shareholders;

         WHEREAS, the Bank recognizes that, as is the case with many publicly

held corporations, there is a possibility of a change in control of the Bank,

and that the uncertainty and questions which such a possibility raise may result

in the departure or distraction of management personnel to the detriment of the

Bank and its shareholders;

         WHEREAS, the Bank's Board of Directors has determined that appropriate

steps should be taken (1) to reinforce and encourage the continued attention and

dedication of members of the Bank's management to their assigned duties without

distraction arising from the possibility of a change in control of the Bank and

(2) to dispel any concerns that Employee may have about taking an active part in

the defense against an inappropriate attempt to bring about a change in control

of the Bank; and

         WHEREAS, the purpose of this Agreement to assure Employee that, in the

event of termination of employment after a change of control (to the extent set

forth this Agreement), Employee will continue to receive compensation for a

period which should be sufficient for Employee to find other employment.

         NOW, THEREFORE, in consideration of the mutual agreements set forth in

this Agreement, the legal sufficiency and adequacy of which are hereby

acknowledged, the parties agree as follows:

<PAGE>

         1. Employment. Employee agrees that so long as she is employed by the

Bank, Employee shall devote her full-time efforts during normal business hours

to the business and affairs of the Bank and shall support decisions and

determinations of the Board of Directors and Bank policy including, but not

limited to, any decision or determination with respect to responding to an

approach or attempt to effect a Change in Control (as later defined).

         2. Term.

(a)     The term of this Agreement shall be for two (2) years from the Effective

Date unless sooner terminated upon:

                      (i) Employee's written notice to the Bank that he is

terminating this Agreement effective upon a specified date

not less than one month after his notice is given;

                      (ii) Employee's death;

                      (iii) Employee's illness or other disability

incapacitating Employee from performing her duties for six (6)

consecutive months as determined in good faith by Chief Executive Officer, the

Board of Directors of the Bank or a committee of the Board;

         (iv) A determination by the Chief Executive Officer or the Board of

Directors of the Bank that Employee is no longer a key executive employee and

the delivery of notice to Employee of such determination and the termination of

this Agreement. Such termination shall be effective upon the delivery of the

notice or at a later date specified in the notice, provided, however, such

determination shall not be made, and if made, shall have no effect, after a

Change in Control.

(b)      Unless this Agreement is terminated in accordance with

subparagraph 2(a), on each anniversary of the Effective Date of this Agreement,

the term of this Agreement automatically shall be extended for an additional

successive period of one year, unless either the Employee or the Bank shall give

written notice to the other at least three (3) months before such anniversary

date that the term of this Agreement shall not be extended.

(c)     In the event of a Change in Control of the Bank at any time before the

termination of this

<PAGE>

Agreement, the term of this Agreement shall be automatically extended to the

earlier of (i) a date two (2) years after the date such Change in Control

occurred and (ii) the occurrence of an event of termination described in clause

2(a)(ii) or (iii).

(d)     In the event of a Termination (as later defined) of Employee's

employment during the term of this Agreement, the term of this Agreement shall

be automatically extended until all obligations under the Agreement are fully

performed.

         3. Change in Control. For purposes of this Agreement, a "Change in

Control" means one or more of the following occurrences: (a) A corporation,

person or group acting in concert as described in Section 14(d)(2) of the

Securities Exchange Act of 1934, as amended ("Exchange Act"), holds or acquires

beneficial ownership within the meaning of Rule 13d-3 promulgated under the

Exchange Act of a number of shares of voting capital stock of the Bank which

constitutes either (i) more than fifty percent (50%) of the shares which voted

in the election of directors of the Bank at the shareholders' meeting

immediately preceding such determination, or (ii) more than thirty-three percent

(33%) of the Bank's then outstanding shares entitled to vote.

(b) A merger or consolidation to which the Bank is a party (other than a pro

forma transaction for a purpose such as changing the state of incorporation or

name of the Bank), if either (i) the Bank is not the surviving corporation, or

(ii) the directors of the Bank immediately before the merger or consolidation

constitute less than a majority of the Board of Directors of the surviving

corporation; provided, however, the occurrence described in clause (i) shall not

constitute a Change in Control if the holders of the Bank's voting capital stock

immediately before the merger or consolidation have the same proportional

ownership of voting capital stock of the surviving corporation immediately after

the merger or consolidation.

(c) All or substantially all of the assets of the Bank are sold, leased, or

disposed of in one transaction or a series of related transactions.

<PAGE>

(d) An agreement, plan, contract, or other arrangement is entered into providing

for any occurrence which, as defined in this Agreement, would constitute a

Change in Control.

         4. Termination Following Change in Control.

(a) Termination of Employee's employment after the occurrence of a Change in

Control ("Termination") entitles Employee to the benefits described in

Paragraphs 5 and 6, unless such Termination is (i) by the Bank for cause or

because of disability or (ii) because of Employee's death.

(b) "Cause" means: (i) the willful and continued failure by Employee for a

significant period of time to substantially perform her duties with the Bank

(other than any such failure resulting from her disability) after a demand for

substantial performance is delivered to Employee by the Bank's Chief Executive

Officer, Board of Directors, or a committee of the Board which specifically

identifies the manner in which the Chief Executive Officer or Board or Directors

believes that Employee has not substantially performed her duties; (ii) the

willful engaging by Employee in gross misconduct materially and demonstrably

injurious to the Bank or (iii) the conviction of Employee of any crime involving

fraud or dishonesty. No act, or failure or act, on Employee's part shall be

considered "willful" unless done, or omitted to be done, by Employee, not in

good faith and without reasonable belief that her action or omission was in the

best interests of the Bank. The burden of establishing the validity of any

Termination for cause shall rest upon the Bank.

         5. Benefits. In the event of Employee's Termination for any reason

except those set forth in clauses 4(a)(i) or (ii), the Bank shall pay Employee

as severance pay an amount equal to two (2) times Employee's most recent annual

compensation, including the amount of her most recent annual bonus at the time

of termination ("Severance Pay"). The Severance Pay shall be paid in twenty-four

(24) equal monthly installments without interest, commencing one month after

termination, unless and until the Employee obtains other full-time employment,

at which time the balance of the Severance Pay shall be paid within thirty (30)

days in a lump sum amount.

         6. Other Benefits. In addition, in the event of Employee's Termination,

the Bank shall:

<PAGE>

(a) Maintain in full force and effect, for twenty-four (24) months after the

date of Termination, or unless and until Employee obtains other full-time

employment, all life insurance, health (medical and dental), accidental death

and dismemberment and disability plans or programs in which Employee is entitled

to participate immediately prior to the date of Termination and include Employee

as a participant in such plans on the same terms as he participated before

Termination; provided that Employee's continued participation is possible under

the general terms and provisions of such plans and programs. In the event that

Employee's participation in any such plan or program is barred, the Bank shall

arrange upon comparable terms to provide Employee with benefits substantially

similar to those which she would be entitled to receive under such plans and

programs. At the end of the period of coverage, Employee shall have the option

to have assigned to her, at no cost and with no apportionment of prepaid

premiums, any assignable insurance policy owned by the Bank and relating

specifically to Employee.

(b) To the extent permitted by the applicable plan, pay Employee in a lump sum

(or otherwise as specified by Employee to the extent permitted by the applicable

plan) any and all amounts contributed to a Bank pension or retirement plan

(other than any nonqualified deferred compensation plan) to which Employee is

entitled under the terms of any such plan.

         7. No Duty to Mitigate. Employee shall not be required to mitigate the

amount of any payment provided for in this Agreement by seeking other employment

or otherwise, nor shall the amount of any payment or benefit as provided for be

reduced by any compensation earned by Employee as the result of employment by

another employer or by retirement benefits after the date of Termination, or

otherwise except as specifically provided in this Agreement.

         8. Miscellaneous.

(a) Limit on Effect. This Agreement shall have no effect on any termination of

Employee's employment before a Change in Control or after the termination of

this Agreement, or upon any termination of employment at any time as a result of

Employee's voluntary termination of this Agreement and, in such event, Employee

shall receive only those benefits to which Employee would

<PAGE>

have become entitled before a Change in Control. After a Change in Control and

during its term, this Agreement is in lieu of any other Bank severance policy

involving cash payments, but not in lieu of other Bank severance policies

including, but not limited to, those items provided in Paragraph 6. This

Agreement does not entitle Employee to employment for any term whatsoever.

(b) Successors.

                      (i) The Bank will 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

assume and agree to perform this Agreement in the same manner and to the same

extent that the Bank would be required to perform if no such succession had

taken place, Failure of the Bank to obtain such agreement before the

effectiveness of any such succession shall entitle the Employee immediately to

the benefits provided in Paragraphs 5 and 6 hereof.

                      (ii) Employee may not assign this Agreement, but this

Agreement shall inure to the benefit of and be

enforceable by Employee's personal or legal representatives, executors,

administrators, heirs, distributees, devisees and legatees. If Employee should

die while any amounts would still be payable to Employee under this Agreement if

Employee had continue to live, all such amounts, unless otherwise provided in

this Agreement, shall be paid in accordance with the terms of this Agreement to

Employees' devisee, legatee or other designee or, if there be no such designee,

to her estate.

(c) Expenses. The Bank agrees that if Employee is entitled to

Severance Pay or other benefits under this Agreement and the Bank or its

survivor disputes the obligation to pay Severance Pay or other benefits and

Employee prevails, in whole or in part, the Bank or its survivor shall then

promptly pay or reimburse Employee for all expenses incurred by Employee in such

dispute, including, but not limited to, attorneys' fees and associated costs.

(d) Notice. All necessary notices, demands, or requests required or permitted

under this Agreement shall be in writing and shall be deemed to have been duly

given when delivered in person or mailed by United States certified mail,

postage prepaid, to the parties at the addresses set forth below or to such

<PAGE>

other address as either party may have furnished to the other.

             If to Bank:               Four Oaks Bank & Trust Company

                                       6144 US 301 South

                                       Four Oaks, North Carolina 27524

             If to Employee:           Nancy S. Wise

                                       79 Vinson Road

                                       Clayton, North Carolina 27520

(e) Modifications. No provisions of this Agreement may be modified, waived or

discharged unless such modification, waiver or discharge is agreed to in writing

signed by the Employee and the Bank. No waiver by either party at any time of

any breach by the other party of, or compliance with, any condition or provision

of this Agreement to be performed by such other party shall be deemed a waiver

of similar or dissimilar provisions or conditions at the same or at any prior or

subsequent time.

(f) Counterparts; Interpretation. This Agreement may be executed in several

identical counterparts, each of which when so executed shall be deemed an

original, but all such counterparts shall constitute one and the same

instrument. The validity, interpretation, construction, and performance of

this Agreement shall be governed by the laws of the State of North Carolina. The

invalidity or unenforceability of any provision of this Agreement shall not

affect the validity or enforceability of any other provision of this Agreement,

which shall remain in full force and effect.

         IN WITNESS WHEREOF, the parties have duly executed this Agreement as of

the day and year first above written.

<PAGE>

                                FOUR OAKS BANK & TRUST COMPANY

                                         By:   /s/ Ayden R. Lee, Jr. President
                                               & CEO
                                               --------------------------------
                                               Authorized Officer

      ATTEST:

          /s/ Wanda C. Jones
          ------------------
          Secretary
      [SEAL]

                                    /s/ Nancy S. Wise
                                    ------------------------------
                                    NANCY S. WISE
                                    Employee

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