Document:

SNV_Exhibit 10.38_12.31.2011

1

Exhibit 10.38

RIVERSIDE BANK
SPLIT DOLLAR AGREEMENT
THIS AGREEMENT is made and entered into this 23rd day of   December,1999, by and between RIVERSIDE BANK, located in Marietta, Georgia (the “Company”), and Kessel Stelling (the “Executive”). This Agreement shall append the Split Dollar Endorsement entered into on December 23rd, 1999, by and between the aforementioned parties.
INTRODUCTION
To encourage the Executive to remain an employee of the Company, the Company is willing to divide the death proceeds of a life insurance policy on the Executive's life. The Company will pay life insurance premiums from its general assets.

Article 1
General Definitions
The following terms shall have the meanings specified:
1.1   “Insurer” means Alexander Hamilton Life Insurance Company.
1.2   “Policy” means insurance policy #AH 5061738 issued by the Insurer. 
1.3   “Insured” means the Executive.

Article 2
Policy Ownership/Interests
2.1   Company Ownership. The Company is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. The Company shall be the direct beneficiary of an amount of death proceeds equal to the greater of a) the cash surrender value of the policy or b) the total amount of premiums paid less the amount of any outstanding policy loans.
2.2   Executive's Interest. The Executive shall have the right to designate the beneficiary of any remaining death proceeds of the Policy.
2.3   Option to Purchase. The Company shall not sell, surrender or transfer ownership of the Policy while this Agreement is in effect without first giving the Executive or the Executive's transferee the option to purchase the Policy for a period of sixty (60) days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of the Policy. This provision shall not impair the right of the Company to terminate this Agreement.

Article 3
Premiums

3.1   Premium Payment. The Company shall pay any premiums due on the Policy.
3.2   Imputed Income. The Company shall impute income to the Executive in an amount equal to the current term rate for the Executive's age multiplied by the aggregate death benefit payable to the Executive's beneficiary. The “current term rate” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority.

Article 4
Assignment
The Executive may assign without consideration all of the Executive's interests in the Policy and in this Agreement to any person, entity or trust. In the event the Executive transfers all of the Executive's interest in the Policy, then all of the Executive's interest in the Policy and in the 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 the Policy or in this Agreement.

Article 5
 Insurer
The Insurer shall be bound only by the terms of the Policy. 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 Agreement.

Article 6
Claims Procedure
6.1   Claims Procedure. The Company shall notify the Executive, the Executive's transferee or beneficiary, or any other party who claims a right to an interest under the Agreement (the “Claimant”) in writing, within ninety (90) days of his or her written application for benefits, of his or her eligibility or ineligibility for benefits under this Agreement. If the Company determines that the Claimant is not eligible for benefits or full benefits, the notice shall set forth (1) the specific reasons for such denial, (2) a specific reference to the provisions of this Agreement on which the denial is based, (3) a description of any additional information or material necessary for the Claimant to perfect his or her claim, and a description of why it is needed, and (4) an explanation of this Agreement's claims review procedure and other appropriate information as to the steps to be taken if the Claimant wishes to have the claim reviewed. If the Company determines that there are special circumstances requiring additional time to make a decision, the Company shall notify the Claimant of the special circumstances and the date by which a decision is expected to be made, and may extend the time for up to an additional ninety-day period.

6.2   Review Procedure. If the Claimant is determined by the Company not to be eligible for benefits, or if the Claimant believes that he or she is entitled to greater or different benefits, the Claimant shall have the opportunity to have such claim reviewed by the Company by filing a petition for review with the Company within sixty (60) days after receipt of the notice issued by the Company. Said petition shall state the specific reasons which the Claimant believes entitle him or her to benefits or to greater or different benefits. Within sixty (60) days after receipt by the Company of the petition, the Company shall afford the Claimant (and counsel, if any) an opportunity to present his or her position to the Company orally or in writing, and the Claimant (or counsel) shall have the right to review the pertinent documents. The Company shall notify the Claimant of its decision in writing within the sixty-day period, stating specifically the basis of its decision, written in a manner calculated to be understood by the Claimant and the specific provisions of this Agreement on which the decision is based. If, because of the need for a hearing, the sixty-day period is not sufficient, the decision may be deferred for up to another sixty-day period at the election of the Company, but notice of this deferral shall be given to the Claimant.

Article 7
Amendments and Termination
This Agreement may be amended or terminated only by a written agreement signed by the Company and the Executive.

Article 8
Miscellaneous
8.1   Binding Effect. This Agreement shall bind the Executive and the Company, their beneficiaries, survivors, executors, administrators and transferees, and any Policy beneficiary.
8.2   No Guarantee of Employment. This Agreement is not an employment policy or contract. It does not give the Executive the right to remain an employee of the Company, nor does it interfere with the Company's right to discharge the Executive. It also does not require the Executive to remain an employee nor interfere with the Executive's right to terminate employment at any time.
8.3   Applicable Law. The 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.
8.4   Reorganization. The Company shall not merge or consolidate into or with another company, or reorganize, or sell substantially all of its assets to another company, firm or person unless such succeeding or continuing company, firm or person agrees to assume and discharge the obligations of the Company.

8.5   Notice. Any notice, consent or demand required or permitted to be given under the provisions of this Split Dollar Agreement by one party to another shall be in writing, shall be signed by the party giving or making the same, and may be given either by delivering the same to such other party personally, or by mailing the same, by United States certified mail, postage prepaid, to such party, addressed to his or her last known address as shown on the records of the Company. The date of such mailing shall be deemed the date of such mailed notice, consent or demand.
8.6   Entire Agreement. This Agreement constitutes the entire agreement between the Company and the Executive as to the subject matter hereof. No rights are granted to the Executive by virtue of this Agreement other than those specifically set forth herein.
8.7   Administration. The Company shall have powers which are necessary to administer this Agreement, including but not limited to:
8.7.1   Interpreting the provisions of the Agreement;
8.7.2   Establishing and revising the method of accounting for the Agreement; 
8.7.3   Maintaining a record of benefit payments; and
8.7.4   Establishing rules and prescribing any forms necessary or desirable to administer the Agreement.
8.8   Plan Administrator. For purposes of the Employee Retirement Income Security Act of 1974, if applicable, the Company shall be the plan administrator under the Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written.

COMPANY:
RIVERSIDE BANK
By  /s/ Carol B. Smith____________
Title  Sr. Vice President___________

EXECUTIVE:
/s/ Kessel Stelling
Kessel StellingEx. 10.12

Exhibit 10.12

METROPCS COMMUNICATIONS, INC.
2010 EQUITY INCENTIVE COMPENSATION PLAN
EMPLOYEE NON-QUALIFIED STOCK OPTION AWARD AGREEMENT

Pursuant to this Employee Non-Qualified Stock Option Award Agreement, executed by MetroPCS Communications, Inc. (the “Company”) and [First, Middle and Last Name] (the “Optionee”), an employee of the Company or one of its Affiliates, the Company hereby grants to the Optionee on [Option Grant Date] (the “Grant Date”), a right (the “Award”) to purchase from the Company up to, but not exceeding in the aggregate, [Share Number] shares of common stock (“Option Shares”), par value $0.0001 per share, of the Company (“Common Stock”) at [Option Price] per share (the “Exercise Price”), which has been determined to be no less than the Fair Market Value per share of the Common Stock on the Grant Date, pursuant to the MetroPCS Communications, Inc. 2010 Equity Incentive Compensation Plan (the “Plan”), with such number of shares and such price per share being subject to adjustment as provided in the Plan, and further subject to the following terms and conditions.  The Award is not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Code.

1.Relationship to Plan

This Award is subject to all of the terms, conditions and provisions of the Plan and administrative interpretations thereunder, if any, which have been adopted by the Company's Compensation Committee (“Committee”) and are in effect on the date hereof, as well as the provisions of this Award Agreement.  Except as defined herein, capitalized terms shall have the same meanings ascribed to them under the Plan.  For purposes of this Award Agreement:
(a)“Employment” means employment with the Company or any of its Affiliates.

(b)“Option Period” means the period commencing upon the Grant Date and ending on the date on which the Award expires pursuant to Section 3.

(c)“Option Shares” means the shares of Common Stock covered by this Award Agreement.

2.Exercise and Vesting Schedule

(a)Schedule.  The Award shall vest and may be exercised in installments in accordance with the following schedule:
	
		
	Date Vested
	Percentage of Option Shares
Vested and Exercisable

	First (1st) year anniversary of
the Grant Date
	25.00 %

	Following the first (1st) year anniversary of the Grant Date, each monthly anniversary of the Grant Date for 36 successive months
	2.0833 %

As of the fourth (4th) year anniversary of the Grant Date, all Option Shares covered by the Award shall be 100% vested and exercisable.  Except as provided in Section 1.6 of the Plan, the Optionee must be in continuous Employment from the Grant Date through the date of exercisability in order for the Award to become vested and exercisable with respect to additional shares of Common Stock on such date.
(b)    Change of Control.  Notwithstanding the vesting schedule noted above in Section 2(a) above and Section 10.12(a) of the Plan, in the event that a Change of Control occurs, as defined in Section 1.2 of the 2010 Plan, this Award shall become fully vested and exercisable as provided in the Plan.

(c)    Expiration.  To the extent the Option Shares covered by this Award become vested and exercisable, such Award may be exercised in whole or in part (at any time or from time to time, except as otherwise provided herein) for whole Option Shares until expiration of the Award pursuant to the terms of this Award Agreement or the Plan.

3.Termination of Award

(a)Expiration Date.  The Option Period shall expire on the tenth (10th) year anniversary of the Grant Date, except as otherwise provided in this Section 3.

(b)Termination of Employment Other Than Due to Death, Disability or Retirement.  If the Optionee's Employment terminates for any reason other than due to death, Disability or Retirement, then:

(i)any unvested Option Shares shall be immediately forfeited as of such termination date and no further vesting shall occur; and

(ii)any vested Option Shares shall be exercisable until the earlier of (A) the six (6) month anniversary of such Employment termination date, or (B) the expiration of the Option Period, and thereafter the Award shall expire, terminate and be of no further force and effect.

(c)Termination of Employment Due to Retirement.  If the Optionee's Employment terminates due to Retirement, then:

(i)any unvested Option Shares shall be immediately forfeited as of such termination date and no further vesting shall occur; and

(ii)any vested Option Shares shall be exercisable until the earlier of (A) the first (1st) year anniversary of such Employment termination date or (B) the expiration of the Option Period, and thereafter the Award shall expire, terminate and be of no further force and effect.

(d)Termination of Employment Due to Death or Disability.  If (i) the Optionee's Employment terminates due to death or Disability, (ii) the Optionee's Employment terminates due to Retirement and his or her death occurs during the period described in subsection 3(c)(ii) above (the “Applicable Retirement Period”) or (iii) the Optionee's Employment terminates due to Disability and his or her death occurs during the period that expires on the earlier of the expiration of the Option Period or the first (1st) year anniversary of the Optionee's termination of Employment due to Disability (the “Applicable Disability Period”), then:

(i)any unvested Option Shares that have not already been forfeited shall be immediately forfeited as of such termination date or date of death, as applicable and no further vesting shall occur; and

(ii)any vested Option Shares shall be exercisable until the earlier of (1) the expiration of the Option Period or (2) the later of (x) the first (1st) year anniversary of such termination of Employment as a result of Disability or death, or (y) the first (1st) year anniversary of Optionee's death during the Applicable Retirement Period or the Applicable Disability Period.

4.Exercise of Award

Subject to the limitations set forth herein and in the Plan, this Award may be exercised by completing in writing the Stock Option Award Exercise Notice, in the form prescribed by the Committee (the “Notice”), and submitting the Notice to the Company as set forth in Section 5.  The Notice shall (a) state the number of shares of Common Stock with respect to which the Award is being exercised, (b) be accompanied by payment as provided in Section 2.3(b) of the Plan.
Notwithstanding anything to the contrary contained herein, the Optionee agrees that he or she will not exercise the Award granted pursuant hereto, and the Company will not be obligated to issue any Option Shares pursuant to this Award Agreement, if the exercise of the Award or the issuance of such Option Shares would constitute a violation by the Optionee or by the Company of any provision of any law or regulation of any governmental authority or any stock exchange or transaction quotation system.  The Optionee agrees that, unless the Awards and the Option Shares covered by the Plan have been registered pursuant to the Securities Act of 1933, as amended, the Company may, at its election, require the Optionee to give a representation in writing in form and substance satisfactory to the Company to the effect that he is acquiring such shares for his or her own account for investment and not with a view to, or for sale in connection with, the distribution of such shares or any part thereof.

If any law or regulation requires the Company to take any action with respect to the shares specified in such notice, the time for delivery thereof, which would otherwise be as promptly as possible, shall be postponed for the period of time necessary to take such action.
5.Notices

(a)The Notice for exercise of the Award (with payment) must be made in the following manner:

(i)by registered or certified United States mail, postage prepaid, to MetroPCS Communications, Inc., Attention:  Stock Plan Administrator, 2250 Lakeside Blvd, Richardson, TX 75082, in which case the date of exercise shall be the date of mailing; or

(ii)by hand delivery or overnight mail to MetroPCS Communications, Inc., Attention:  Stock Plan Administrator, 2250 Lakeside Blvd, Richardson, TX 75082; in such case, the date of exercise shall be the date when receipt is acknowledged by the Company.

(b)Notwithstanding the foregoing, in the event that the address of the Company is changed prior to the date of any exercise of this Award, notice of exercise shall instead be made pursuant to the foregoing provisions at the Company's current address.

(c)Any other notices provided for in this Award Agreement or in the Plan to the Company shall be given in writing and shall be deemed effectively delivered or given upon receipt, or in the case of notices delivered by the Company to the Optionee, five (5) days after deposit in the United States mail, postage prepaid, addressed to the Optionee at the address specified at the end of this Award Agreement or at such other address as the Optionee hereafter designates by written notice to the Company.

6.Assignment of Award

Except as otherwise permitted by the Committee, the Optionee's rights under the Plan and this Award Agreement are personal; no assignment or transfer of the Optionee's rights under and interest in this Award may be made by the Optionee other than as permitted in Section 10.8 of the Plan.  The Award will be exercisable during Optionee's lifetime only by Optionee or by Optionee's guardian or legal representative.  No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Optionee.
7.Delivery of Common Stock

Shares of Common Stock issued pursuant to the exercise of the Award shall be credited in book entry form as soon as practicable after the exercise date to an account administered by a designated custodian, bank or financial institution, unless the Optionee provides written direction to the Company to issue certificates.  The Optionee may request that any shares credited in book entry form be issued in certificates at any time, in accordance with the procedures of the designated custodian, bank or financial institution that administers the Optionee's account.  Certificates representing the Common Stock issued pursuant to the exercise of the Award will bear all legends required by law and necessary or advisable to effectuate the provisions of the Plan and this Award.  The Company may place a “stop transfer” order against shares of the Common Stock issued pursuant to the exercise of this Award until all restrictions and conditions set forth in the Plan or this Award Agreement and in the legends referred to in this Section 7 have been complied with.
8.Withholding

No certificates representing shares of Common Stock purchased hereunder shall be delivered to or in respect of an Optionee unless the full amount of all federal, state and other governmental withholding tax requirements imposed upon the Company with respect to the issuance of such shares of Common Stock has been remitted to the Company or unless provisions to pay such withholding requirements have been made to the satisfaction of the Committee.  The Company shall have the right to (a) make deductions from the number of Option Shares otherwise deliverable upon exercise of this Award in an amount sufficient to satisfy withholding of any federal, state and other governmental tax required by law, or (b) take such other action as may be necessary or appropriate to satisfy any such tax withholding obligations.  The Optionee may pay all or any portion of the taxes required to be withheld by the Company or paid by the Optionee in connection with the exercise of all or any portion of this Award by delivering cash, or, with the Committee's approval, by electing to have the Company withhold shares of Common Stock, or by delivering previously owned shares of Common Stock, having a Fair Market Value equal to the amount required to be withheld or paid.  The Optionee may only request withholding Option Shares having a Fair Market Value equal to the statutory minimum 

withholding amount.  The Optionee must make the foregoing election on or before the date that the amount of tax to be withheld is determined.  If the Optionee is subject to the short‐swing profits recapture provisions of Section 16(b) of the Exchange Act, any such election shall be subject to such other restrictions as may be established by the Committee in order that satisfaction of withholding tax obligations with shares of Common Stock might be exempt from the operation of Section 16(b) of the Exchange Act in whole or in part.
9.Shareholder Rights

The Optionee shall have no rights of a shareholder with respect to shares of Common Stock subject to this Award unless and until such time as this Award has been exercised and ownership of such shares of Common Stock has been transferred to the Optionee.
10.Successors and Assigns

This Award Agreement shall bind and inure to the benefit of and be enforceable by the Optionee, the Company and their respective permitted successors and assigns (including personal representatives, heirs and legatees), except that the Optionee may not assign any rights or obligations under this Award Agreement except to the extent and in the manner expressly permitted herein.
11.No Employment Guaranteed

This Award shall not confer upon Optionee any right with respect to continuance of Employment or other service with Company or an Affiliate, nor shall it interfere in any way with any right Company or any Parent or Subsidiary would otherwise have to terminate such Optionee's Employment or other service at any time.
12.Governing Law

This Award Agreement will be construed in accordance with the laws of the State of Texas to the extent federal law does not supersede and preempt Texas law.  The obligation of the Company to deliver Common Stock hereunder is subject to all applicable laws and to the approval of any governmental authority required in connection with the authorization, issuance, sale or delivery of such Common Stock.
13.Amendment

Neither the Board nor the Committee may terminate this Award without the written consent of the Optionee, and no amendment or termination of this Award may adversely affect the rights, privileges or benefits of the Optionee under this Award without the written consent of the Optionee; provided, however, that the restrictions of this Section 13 shall not apply to the extent that applicable legal or securities requirements may so require an action that is otherwise prohibited by this Section 13.
Date: [Date]                    METROPCS COMMUNICATIONS, INC.
                                            	
		
	/s/ J. Braxton Carter

J. Braxton Carter, CFO & Vice Chairman
        
You, as the above named Optionee, are not required to take any further action to accept the terms and conditions of this Award Agreement.  If you, as Optionee, desire to accept the Award Agreement, subject to the terms and provisions hereof and the Plan and administrative interpretations of such Plan referred to herein, simply retain a copy of this Award Agreement for your records, and you shall be DEEMED to have ACCEPTED the Award and you shall be DEEMED to become a party to the Award Agreement, being bound to its terms and conditions.  By acceptance, Optionee confirms the Plan and the S-8 prospectus for the Plan have been made available to the Optionee, and that he or she has read and understands the S-8 prospectus relating to the Award granted under this Award Agreement.
If you DO NOT WISH TO ACCEPT this Award, you must provide written notice of your desire to reject the Award Agreement for the grant of the Award within thirty (30) days of the receipt of this Award Agreement and such written notice must be signed and dated. Please send such written notice to Stock Plan Administration, at 2250 Lakeside Blvd., Richardson, Texas, 75082, Attention: Lisa Sutter. Again you must return your written notice of rejection of this Award Agreement within 30 days of receipt of this Award Agreement.

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