Document:

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                                                                    EXHIBIT 10.3

                                    SOW 2 TO

                           MASTER SERVICES AGREEMENT
                         SOW FOR BROKERING OF SERVICES

         This SOW is made as of October 3, 2005 by and between Edentify, Inc.,
with its principal place of business at 74 West Broad Street, Suite 350,
Bethlehem, Pennsylvania 18018 ("Edentify" or "Broker"), and Seisint, Inc., with
its principal place of business at 6601 Park of Commerce Blvd, Boca Raton,
Florida 33487 ("Seisint").

         Whereas the Parties have entered into a Master Agreement on even date
herewith, into which this SOW is intended to become incorporated;

         Now, Therefore, in consideration for the terms and conditions of the
Master Agreement, and for good and valuable consideration, the sufficiency of
which is acknowledged by the Parties, the Parties agree to the following:

1. DEFINITIONS

1.1. "ACCURINT SERVICES" shall be defined as the provision of nationwide public
record information, document retrieval, and related services as detailed at
Seisint's web site www.accurint.com.

1.2. "APPROVED OPPORTUNITY" shall be defined as the granting in writing of
approval by Seisint for Broker to pursue the sale of Seisint Services to a
Prospective Customer, following submission by Broker of an Opportunity
Registration Form. In a Small Organization an Approved Opportunity will be
deemed to extend to the organization as a whole, while in a Large Organization
an Approved Opportunity will be limited and shall only extend to the area of
responsibility of Broker's Contact within the Large Organization (whether
defined by division, subsidiary, product, affiliate, etc. within such
organization).

1.3. "BROKER" shall be defined as an individual, company, or organization that
engages in sales efforts with a Prospective Customer on behalf of Seisint in
accordance with the terms and conditions of this SOW.

1.4. "BROKER'S CONTACT" shall be defined as the individual within an
organization with whom Broker communicates in order to sell an Approved
Opportunity the Seisint Services.

1.5. "BROKER NETWORK" shall be defined as the group of each and every Broker of
the Seisint Services.

1.6. "COMMISSION" shall be defined in Section 5.4.

1.7. "LARGE ORGANIZATIONS" shall be defined as businesses, companies, entities,
or other organizations that have (a) multiple subsidiaries or affiliates, (b)
multiple divisions, and/or (c) multiple procurement offices/officers.

1.8. "OPPORTUNITY REGISTRATION FORM" shall be defined as the form attached
hereto as Exhibit A, submitted by Broker to Seisint in order to obtain
permission from Seisint to pursue a Prospective Customer.

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1.9. "PROCURING CAUSE" shall be defined as efforts undertaken by Broker to have
a Prospective Customer become a Seisint Customer, which shall include, but not
be limited to: (a) directing a Prospective Customer to Seisint for sale of the
Seisint Services, (b) completing an Opportunity Registration Form, (c) assisting
Seisint in the closing of a Seisint sale, and (d) contributing such assistance
to Seisint in procuring the sale as Seisint may reasonably request from time to
time.

1.10. "PROSPECTIVE CUSTOMER" shall be defined as a business, organization or
other entity wherein Broker has a bona fide Broker Contact, has made initial
introductions, and has a good faith belief that a sale of the Seisint Services
is likely to occur.

1.11. "PROCUREMENT PERIOD" shall be defined as the period of time within which
the Prospective Customer must become a Seisint Customer for Broker to be
entitled to a Commission.

1.12. "QUALIFIED QUERIES" shall be defined as the type of search performed by a
Seisint Customer on the Seisint system (i.e., Person Search, Business Search,
Address Search, etc.) that shall entitle a Broker to earn a Commission.
Qualified Queries are delineated on Exhibit B.

1.13. "QUALIFIED RECEIPTS" shall be defined as receipts by Seisint of monies
derived from Qualified Queries.

1.14. "SEISINT CUSTOMER" shall be defined as a duly qualified and subscribed
user of the Seisint Services.

1.15. "SEISINT SERVICES" shall be defined as the provision of nationwide public
record information, document retrieval, and related services as detailed at
Seisint's web site www.seisint.com.

1.16. "SMALL ORGANIZATIONS" shall be defined as businesses, companies, entities,
or other organizations that do not have (a) multiple subsidiaries or affiliates,
(b) multiple divisions, or (c) multiple procurement offices/officers.

2. SCOPE OF THE AGREEMENT

Broker shall assist Seisint in selling the Seisint Services to the [GOVERNMENT]
[AND] [BUSINESS] COMMUNITY[IES], and become a member of Seisint's Broker
Network. At all times during the Term of this SOW, Broker shall keep Seisint
reasonably informed of Broker's procurement efforts, and when applicable, prior
to communicating with a Prospective Customer about material terms and conditions
of such Prospective Customer becoming an Seisint Customer, Broker shall seek and
receive direction and guidance from Seisint. At no time during the provision of
brokerage services by Broker shall Broker offer to a Prospective Customer
business terms that materially differ from the direction provided Broker by
Seisint.

3. TERM

Unless earlier terminated as provided in the Master Agreement, the Term of this
SOW will begin on the Effective Date and continue until December 31, 2008. The
Term shall automatically renew for successive one (1) year renewal Terms unless
either Party notifies the other Party in

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writing that it intends not to renew at least ninety (90) days prior to the
expiration of the initial Term or any renewal Term or this SOW is otherwise
terminated as provided in the Agreement.

4. LICENSE

4.1 Seisint shall provide to Broker, during the Term of the SOW, a revocable,
non-exclusive license to be an authorized Broker of Seisint Services in
accordance with the terms and conditions of this SOW. Broker agrees that it will
not sell a competing service that is materially similar in functionality to the
Seisint Services during the Term of this SOW.

4.2 Broker specifically acknowledges that the use of the Seisint Services is
limited by law, including, as applicable, the Drivers Privacy Protection Act (18
U.S.C. Section 2721 et seq.), the Gramm-Leach-Bliley Act (15 U.S.C. Section 6801
et seq.), and the Fair Credit Reporting Act (15 U.S.C. Section 1681 et seq.)
("FCRA"). Broker also acknowledges that the Accurint Services may not be used
for any "permitted purpose" covered by the FCRA. Broker agrees to be bound by
any and all limitations to use of the Seisint Services, and specifically, to
refrain from making any misleading representations or statements regarding the
permitted uses of the Seisint Services.

5. COMPENSATION

5.1 For each Prospective Customer for which Broker believes it will be the
Procuring Cause (and therefore become entitled to a Commission), Broker shall
submit to Seisint immediately following Broker's initial Seisint related direct
communication with the Prospective Customer, a fully completed Opportunity
Registration Form. Seisint shall have the right to review each of Broker's
submitted Opportunity Registration Forms, and shall in Seisint's sole discretion
either permit Broker to pursue the Prospective Customer, or deny Broker the
right to pursue the Prospective Customer's business on behalf of Seisint.
Failure by Broker to provide such notice of contacting a Prospective Customer
and obtain permission from Seisint to become the Procuring Cause of such
Customer may result, at Seisint's discretion, in the loss by Broker of any
Commissions due and payable due to Broker's procurement efforts.

5.2 Broker shall have a thirty (30) day Procurement Period from the date of
notice to Seisint to complete the sale of Seisint Services to the Prospective
Customer. Failure to Procure the Prospective Customer within a Procurement
Period may result, at Seisint's discretion, in the loss by Broker of a right to
Commissions. Seisint may, in its reasonable discretion, extend the Procurement
Period. The following factors will be considered by Seisint in evaluating
whether to extend the Procurement Period:

         5.2.1    how close Broker is to closing the sale of Seisint Services to
                  the Prospective Customer;

         5.2.2    the time, effort and monies that Broker has put forth in its
                  procurement efforts with the Prospective Customer;

         5.2.3    the number and length of prior Procurement Period extensions
                  granted by Seisint to Broker, if any;

         5.2.4    as based on the above indicia, the likelihood that this
                  particular Broker will be able to consummate a deal with the
                  Prospective Customer.

5.3 During the Procurement Period, Seisint will not engage in the solicitation
of Broker's Approved Opportunity.

5.4 In any month during the Term of this SOW, for all new Seisint Customers
wherein

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Broker was the Procuring Cause of a Seisint Customer, Seisint shall pay to
Broker, unless otherwise agreed between the parties in writing, twenty percent
(20%) of all Qualified Receipts for Seisint Services received by Seisint within
such month with respect to an Approved Opportunity by the last day of the month
following the month that Seisint received such Qualified Receipts.

6. SALES, MARKETING AND CUSTOMER SUPPORT

Broker shall be responsible for all of Broker's individual activities and costs
associated with prospecting sales with Prospective Customers. Seisint Customers
will contract directly with Seisint, will become a customer of Seisint, and upon
contracting will solely be provided customer support by Seisint. Broker agrees
that for a period of six (6) months following termination or expiration of this
SOW that Broker will not contact an Seisint Customer in an attempt to sell such
Seisint Customer a competing product to the Seisint Services, or in any manner
communicate with an Seisint Customer with the intention of interfering with
Seisint's relationship with such Seisint Customer.

7. INTELLECTUAL PROPERTY

Broker acknowledges that Seisint shall retain all right, title and interest
under applicable contractual, trade secret, trademark, copyright, patent and
related laws in the Seisint Services, its software, databases, name and
marketing materials.

8. INDEMNIFICATION

Broker shall indemnify, hold harmless and defend Seisint from claims brought by
an Seisint Customer based upon false or misleading representations made to the
Seisint Customer by Broker regarding the performance, uses, permitted uses, or
functionality of the Seisint Services, or for breaches of this SOW. Seisint
shall indemnify, hold harmless and defend Broker for claims brought by Customer
due to a breach by Seisint of this SOW or any Seisint Service Agreement entered
into with the Customer.

9. PUBLICITY

Broker agrees that Seisint shall have a right to approve any and all marketing
materials that Broker seeks to create, distribute or use in furtherance of the
brokering activities described herein, or that otherwise name Seisint or the
Seisint Services in any manner whatsoever,

10. EQUAL OPPORTUNITY CERTIFICATION

Broker warrants and represents that it is an equal opportunity employer. Broker
does not discriminate on the basis of race, religion, age, sex, marital status,
sexual orientation, veteran status, medical condition, physical handicap or
disability, or any other legally protected classification, except as may be
permitted by law. Broker agrees to comply with all applicable provisions of
Executive Order 11246 of September 24, 1965, the Vocational Rehabilitation Act
of 1973, and the Vietnam Era Veterans Readjustment Assistance Act of 1974, as
well as all applicable non-discrimination provisions of state and local law.

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11. ENTIRE AGREEMENT

This SOW, together with the Master Agreement between the Parties, constitutes
the entire understanding between the Parties with respect to the subject matter
hereof, and supersedes all proposals, oral or written, and all other
communications between the Parties with respect to such subject matter.

         IN WITNESS HEREOF the Parties hereto set their hands in agreement to
the terms and conditions of this SOW.

SEISINT, INC.                           EDENTIFY, INC.

By:    /s/ James P. Swift               By:    /s/ Terrence DeFranco
       -------------------------               -----------------------
Name:  James P. Swift                   Name:  Terrence DeFranco
       -------------------------               -----------------------
Title: COO                              Title: CEO
       -------------------------               -----------------------
Date:  10/3/05                          Date:  10/3/05
       -------------------------               -----------------------

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Exhibit 10.1

EMPLOYMENT AGREEMENT

     This Employment Agreement (this “Agreement”) is made this 7th day of June, 2005 by and between
MetroCorp Bancshares, Inc. (hereinafter called the “Employer” or “MetroCorp”) and Andrew C. Yip
(hereinafter called the “Executive”), an individual who resides in La Jolla, California.

     WHEREAS, the Board of Directors of the Employer (the “Board”) has proposed the acquisition of
First United Bank (“First United”) by Employer, whereby following the transaction, First United
would be a wholly owned subsidiary of Employer (the “Merger”); and

     WHEREAS, the Board believes it is in the best interest of the Employer and its shareholders to
enter into this Agreement in order to attempt to assure management continuity of First United; and

     WHEREAS, the parties desire to enter into this Agreement setting forth the terms and
conditions of the employment relationship between the Employer and the Executive as set forth
herein;

     NOW, THEREFORE, the parties, intending to be legally bound, for the consideration set forth in
this Agreement and for other good and valuable consideration, agree as follows:

     1. Employment. Employer agrees to employ the Executive as President of First United
for the Term set forth in Paragraph 3 hereof beginning at the Effective Time of the Merger (as that
term is defined in that certain Agreement and Plan of Reorganization dated as of June 7, 2005 (the
“Merger Agreement”) by and between MetroCorp and First United, referred to herein as the Effective
Date. The Executive shall have the responsibilities, duties and authority customarily accorded to
and expected of an executive holding such position. The Executive agrees to devote full time,
attention and efforts to promote and further the business of the Employer. The Executive shall
report to the Board and shall perform his duties under this Agreement in accordance with such
reasonable standards established from time to time by the Board.

     2. Compensation and Benefits. For all services rendered by the Executive to the
Employer and its subsidiaries, the Employer shall compensate the Executive as follows:

     (a) Base Salary. Commencing on the Effective Date of this Agreement, the Employer
agrees to pay the Executive a base salary of $160,000.00 per annum, less applicable
statutory deductions (the “Base Salary”), payable on a regular basis in accordance with the
Employer’s standard payroll procedures, but not less frequently than monthly. The amount of
Base Salary shall be reviewed by the Board no less often than annually and may be adjusted
from time to time by such amounts as the Board in its discretion may decide.

     (b) Stock Options. On the Effective Date of this Agreement, Employer shall deliver to
Executive an incentive stock option agreement issued pursuant to the

 

 

MetroCorp Bancshares, Inc. 1998 Stock Option Plan (“1998 Plan”) granting to Executive
options to purchase 20,000 shares of common stock of Employer pursuant to the 1998 Plan.
The stock option agreement shall provide that the options shall vest 30%, 30% and 40% each
year beginning on the first anniversary of the grant date, shall have a term of ten (10)
years and shall otherwise be subject to the terms and conditions of the 1998 Plan.

     (c) Bonus. Executive shall be eligible to receive an annual performance bonus under
Employer’s bonus program applicable to Executive Vice Presidents, which shall be no greater
than 50% of Executive’s Base Salary for the applicable year; provided, however, that any
bonus paid to Executive for the 2005 calendar year will be pro rated based on the number of
days in such year Executive was employed by Employer. In addition, Executive shall be
eligible to receive from First United any bonus he is entitled to receive as an employee of
First United as described in Section 6.5 of the Merger Agreement.

     (d) One-Time Bonus. Executive shall receive a one-time bonus of $40,000.00 to be paid
at the end of two complete quarters following the Effective Time of the Merger; provided
that the financial condition and operating results of First United for such two calendar
quarters are in line with the financial condition and operating results of First United for
the two calendar quarters immediately preceding the Effective Time.

     (e) Benefits. Executive shall be entitled to coverage, subject to contributions
required of executives of the Employer generally, for the Executive and dependent family
members under health, hospitalization, disability, dental, life and other insurance plans
that the Employer may have in effect from time to time for the benefit of similarly situated
employees of the Employer.

     (f) Reasonable Expenses. The Executive shall be eligible to participate in any fringe
benefit plan or program which may be or become applicable to the Employer’s executive
employees, which shall include an automobile allowance of $500.00 per month, a reasonable
expense account, and any other benefits which are commensurate with the fringe benefits
provided to similarly situated executive employees of Employer. Executive shall be given
credit for prior service as an employee of First United in determining Executive’s
eligibility for and vesting under all such fringe benefit plans and programs. The Executive
shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by
him (in accordance with the policies and practices of the Employer or as may be established
by the Board for its senior executives) in performing services under this Agreement,
provided that the Executive properly accounts for such expenses in accordance with the
Employer’s policies.

     (g) Vacation. The Executive shall be entitled to four weeks of paid vacation time
annually determined in accordance with the Employer’s standard practices.

     (h) Automobile Purchase. Executive may elect to purchase from First United, no later
than fourteen (14) days following the Effective Date of this Agreement, the

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automobile provided for his use prior to the Effective Date for a price equal to 90% of
the Kelly Blue Book trade-in value as of the Effective Date.

     3. Term of the Agreement. The term of this Agreement shall begin on the Effective
Date and continue for three (3) years (the “Term”) unless terminated sooner as herein provided.
The parties shall meet to discuss any renewal of this Agreement following the second anniversary of
the Effective Date.

     4. Termination and Rights upon Certain Terminations. This Agreement and the
Executive’s employment may be terminated in any one of the following ways:

     (a) Termination as a Result of the Executive’s Death. The death of the Executive shall
immediately terminate this Agreement, and the Executive’s estate shall be entitled to a lump
sum cash amount representing all compensation and benefits earned by the Executive and
unpaid as of the date of termination, less applicable statutory deductions, and any other
benefits under insurance programs and other employee plans in accordance with the terms of
such arrangements.

     (b) Termination on Account of Disability. If, as a result of incapacity due to
physical or mental illness or injury, the Executive shall have been absent from his
full-time duties hereunder for six (6) consecutive months, the Employer may terminate the
Executive’s employment provided Executive is unable to resume his full-time duties with
reasonable accommodation, and the Executive shall be entitled to a lump sum cash amount
representing all compensation and benefits earned by the Executive and unpaid as of the date
of termination, less applicable statutory deductions, and any other benefits under insurance
programs and other employee plans in accordance with the terms of such arrangements.

     (c) Termination by the Employer for Cause. The Employer may terminate this Agreement
for “Cause,” which shall mean: (i) the Executive’s acts of dishonesty; (ii) the Executive’s
acts of willful misconduct; (iii) the Executive’s acts that breach his fiduciary duties to
the Employer (or any subsidiary); or (iv) the Executive’s acts which breach his obligations
pursuant to this Agreement. Prior to termination for Cause, the Employer shall provide the
Executive with written notice describing in detail the actions taken by the Executive and
the reasons why Employer believes that such actions constitute Cause, giving Executive
fifteen (15) days to cure the basis for the Employer’s determination that Cause exists. If
the basis for the Employer’s determination that Cause exists has not been cured within such
fifteen (15) day period, or if not practicable to be cured within fifteen (15) days, the
Executive has not made reasonable efforts to cure, then Employer may terminate this
Agreement for Cause by giving written notice of termination to the Executive, specifically
stating the grounds upon which the termination is based. In the event the Executive’s
employment is terminated by the Employer for Cause, the Executive shall be entitled to a
lump sum cash amount representing all compensation and benefits earned by the Executive and
unpaid as of the date of termination, less applicable statutory deductions, to be paid
within six (6) days of termination.

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     (d) Termination Without Cause. Either the Executive or the Employer may, voluntarily
or without Cause, respectively, terminate this Agreement and the Executive’s employment,
effective thirty (30) days after written notice is provided to the other. Upon the
Executive’s voluntary resignation without Good Reason (as defined in Paragraph 6), the
Executive shall be entitled to a lump sum cash amount representing all compensation and
benefits earned by the Executive and unpaid as of the date of termination, less applicable
statutory deductions, to be paid within fourteen (14) days of termination. Upon
termination by the Employer without Cause or by Executive for Good Reason upon or within one
(1) year following a Change of Control, the provisions of Paragraph 7 shall apply to
Executive’s post-employment entitlements. Upon termination by the Employer without Cause or
by Executive for Good Reason unrelated to a Change of Control, the provisions of Paragraph 8
shall apply to Executive’s post-employment entitlements.

     5. Change in Control Defined. A Change in Control shall not occur by reason of any
transaction in which the Executive, or a group of individuals or entities including the Executive,
participates as an Acquiring Person, or owns, directly or indirectly, a majority of a corporation
described in this paragraph. For purposes of this Agreement, “Change in Control” shall mean:

     (a) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), an “Acquiring Person”) becomes the
“beneficial owner” (as such term is defined in Rule 13d-3 promulgated under the Exchange
Act, a “Beneficial Owner”), directly or indirectly, of securities of the Employer
representing 50% or more of the combined voting power of the Employer’s then outstanding
securities;

     (b) the Employer’s shareholders approve an agreement to merge or consolidate the
Employer with another corporation (other than a corporation 50% or more of which is
controlled by, or is under common control with, the Employer) in which the Employer is not
the surviving entity;

     (c) the Employer sells 80% or more of its assets to an Acquiring Person; or

     (d) the persons who were members of the Board of Directors of the Employer immediately
prior to a tender offer, exchange offer, contested election, or any combination of the
foregoing, cease to constitute a majority of the Board of Directors.

     6. Good Reason Defined. For purposes of this Agreement, the Executive shall have
“Good Reason” to terminate this Agreement and his employment hereunder if, without the Executive’s
prior written consent, (i) the Executive is demoted by means of a reduction in authority,
responsibilities, duties or title to a position of materially less stature or importance within the
Employer than as described in Paragraph 1 hereof; (ii) the Employer breaches this Agreement in any
material respect and fails to cure such breach within ten (10) days after the Executive delivers
written notice and a written description of such breach to the Employer, which notice shall
specifically refer to this paragraph of this Agreement or (iii) the Employer reduces the
Executive’s Base Salary or materially reduces his benefits.

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     7. Termination upon Change in Control or Resignation with Good Reason following Change in
Control. In the event the Executive’s employment is terminated within one (1) year following a
Change in Control, by either the Employer without Cause, or by the Executive for Good Reason, as
defined in Paragraph 6 hereof, the Executive shall be entitled to the following:

     (i) A lump sum cash amount representing all compensation and benefits earned by
the Executive and unpaid as of the date of termination, less applicable statutory
deductions, to be paid within thirty (30) days of termination;

     (ii) A lump sum cash amount equal to one and one-half times Executive’s annual
base salary at the highest rate earned by him at any time during the twelve (12)
months immediately preceding the date of determination; provided, however, that such
payment shall be limited to an amount that, when added to all other amounts to be
received by the Executive from the Employer that could constitute “parachute
payments” (as defined in Section 280G(b)(2) of the Internal Revenue Code of 1986, as
amended (the “Code”)), shall not exceed one dollar ($1.00) less than three (3) times
the Executive’s “base amount” (as defined in Section 280G of the Code), so that no
portion of such amounts shall constitute a non-deductible payment under Section 280G
of the Code.

     8. Termination Without Cause or Executive Termination for Good Reason. If, at any
time during the Term other than the one (1) year period following a Change in Control, the
Executive is terminated by the Employer without Cause or the Executive terminates this Agreement
for Good Reason, the Executive shall be entitled to continuation of the Base Salary (or a lump sum
payment, at Employer’s option), less applicable statutory deductions, through the Term of this
Agreement.

     9. Non-Disclosure, Non-Competition and Non-Solicitation Covenants

     (a) Confidential Information Defined. Upon the Effective Date, Employer shall provide
Executive immediate access to Confidential Information of Employer that is a valuable,
special and unique asset used by Employer in its business. The Executive acknowledges that
Employer’s business is highly competitive and that protection of such Confidential
Information against unauthorized disclosure and use is of critical importance to Employer
which will assist Executive to perform his job for Employer. Executive also will have
immediate access to, or knowledge of, Confidential Information of third parties, such as,
among others, actual or potential customers, suppliers, partners, joint ventures, investors
and financing sources of Employer. “Confidential Information” of Employer (or any
subsidiary) means and includes confidential or proprietary information or trade secrets that
have been or will be developed or used and that cannot be obtained readily by third parties
from outside sources. Confidential Information includes, but is not limited to, the
following: information regarding customers, employees, contractors and the industry not
generally known to the public; strategies, methods, books, records and documents; technical
information concerning products, equipment, services and processes; procurement procedures,
pricing and pricing techniques; information concerning past, current and prospective
customers, investors and business affiliates

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(such as contact name, service provided, pricing, type and amount of services used,
financial data and/or other such information); pricing strategies and price curves;
positions; plans or strategies for expansion or acquisitions; budgets; research; financial
and sales data; trading methodologies and terms; communications information; evaluations,
opinions and interpretations of information and data; marketing and merchandising
techniques; electronic databases; models; specifications; computer programs; contracts; bids
or proposals; technologies and methods; training methods and processes; organizational
structure; personnel information; payments or rates paid to consultants or other service
providers; and other such confidential or proprietary information. Notwithstanding the
foregoing, Confidential Information shall not include any information provided to Executive
by a third party who is not required to maintain it in confidence, any information developed
by Executive prior or subsequent to his employment and any information generally available
to the public or from non-confidential sources.

     (b) Non-Disclosure Obligations. The Executive agrees that he will not, at any time
during or after his employment with Employer, make any unauthorized disclosure, directly or
indirectly, of any Confidential Information of Employer, its subsidiary, or of any third
parties that the Executive received in connection with his employment with Employer, or make
any use thereof, directly or indirectly, except in working for Employer. The Executive also
agrees that he shall deliver promptly to Employer at the termination of employment or at any
other time at Employer’s request, without retaining any copies, all documents and other
material in the Executive’s possession relating, directly or indirectly, to any Confidential
Information or other information of Employer, or Confidential Information or other
information regarding third parties, learned as an employee at Employer.

     (c) Non-Competition Obligations. In order to protect the Confidential Information and
in order to enforce Executive’s agreement not to disclose Confidential Information, Employer
and Executive agree that, during the term of Executive’s employment with Employer, which may
exceed the Term, and for a period ending on the earlier of (i) the end of the Term,
including any renewal thereof, and (ii) the one (1) year anniversary following termination
of Executive’s employment with Employer if such termination is by Executive without Good
Reason or by Employer (“Non-Competition Period”), the Executive will not, except as an
employee of Employer, in any capacity for the Executive or others, directly or indirectly:

     (i) compete or engage, anywhere in the geographic area comprised of San Diego
County, California (the “Market Area”), in a commercial banking business; or

     (ii) take any action to invest in, own, manage, operate, control, participate
in, be employed or engaged by or be connected in any manner with any partnership,
corporation or other business or entity engaging in the commercial banking business
anywhere within the Market Area; except that the Executive is permitted to own,
directly or indirectly, up to five percent (5%) of

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the issued and outstanding securities of any publicly traded financial
institution conducting business in the Market Area.

     (d) Non-Solicitation Obligations. In order to protect the Confidential Information and
in order to enforce Executive’s agreement not to disclose Confidential Information, Employer
and Executive agree that, during the term of Executive’s employment with Employer, which may
exceed the Term, and for the Non-Competition Period (“Non-Solicitation Period”), the
Executive will not, except as an employee of Employer, in any capacity for the Executive or
others, directly or indirectly:

     (i) call on, service or solicit competing business from customers or
prospective customers of Employer if, within the twelve (12) months before the
termination of the Executive’s employment, the Executive had or made contact with
the customer, or had access to information and files about the customer; or

     (ii) call on, solicit or induce any employee of Employer whom the Executive had
contact with, knowledge of, or association with in the course of employment with
Employer to terminate employment from Employer, and will not assist any other person
or entity in such activities.

     (e) Injunctive Relief. Employer and the Executive acknowledge and agree that breach of
any of the covenants made by the Executive in this Paragraph 9 would cause irreparable
injury to Employer, which could not sufficiently be remedied by monetary damages; and,
therefore, that Employer shall be entitled to obtain such equitable relief as declaratory
judgments; temporary, preliminary and permanent injunctions; and order of specific
performance to enforce those covenants or to prohibit any act or omission that constitutes a
breach thereof. If a party must bring suit to enforce this Agreement or to defend any such
action, the prevailing party shall be entitled to recover its attorneys’ fees and costs
related thereto.

     10. Return of Employer Property. All records, designs, patents, business plans,
financial statements, manuals, memoranda, lists, contracts and other property delivered to or
compiled by the Executive by or on behalf of the Employer or their representatives, vendors or
customers which pertain to the business of the Employer (including any subsidiary) shall be and
remain the property of the Employer and subject at all times to its discretion and control.
Likewise, all correspondence, reports, records, charts, advertising materials and other similar
data pertaining to the business, activities or future plans of the Employer which is collected by
Executive during the course of his employment with the Employer shall be delivered promptly to the
Employer without request by it upon termination of Executive’s employment.

     11. Inventions. Executive shall disclose promptly to the Employer any and all
significant conceptions and ideas for inventions, improvements and valuable discoveries, whether
patentable or not, which are conceived or made by the Executive, solely or jointly with another,
during the period of employment, and which are directly related to the business or activities of
the Employer and which the Executive conceives as a result of his employment hereunder. The
Executive hereby assigns and agrees to assign all his interests therein to the Employer or its
nominee. Whenever requested to do so by the Employer, the Executive shall

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execute any and all applications, assignments or other instruments that the Employer shall
deem necessary to apply for and obtain Letters Patent of the United States or any foreign country
or to otherwise protect the Employer’s interest therein.

     12. Trade Secrets. The Executive agrees not to, during or after the term of this
Agreement, directly or indirectly, disclose (or use for the benefit of any person other than the
Employer) the specific terms of the Employer’s (including any subsidiary) relationships or
agreements with their respective significant vendors or customers or any other trade secret or
other confidential business information of the Employer (including any subsidiary), whether in
existence or proposed, to any person, firm, partnership, corporation or business for any reason or
purpose whatsoever, except and only to the extent (i) such information is or becomes known to the
public generally through no fault of the Executive or (ii) required by law or legal process
following notice to the Employer.

     13. Successor; Binding Agreement. The Employer shall require any successor (whether
direct or indirect, by purchase, merger, consolidation, liquidation or otherwise) to all or
substantially all of the business and/or assets of the Employer to agree to assume and to assume
all of the obligations of the Employer under this Agreement upon or prior to such succession taking
place. A copy of such assumption and agreement shall be delivered to Executive promptly after its
execution by the successor. However, this Agreement is personal to the Executive and the Executive
may not assign or transfer any part of his rights or duties hereunder, or any compensation due to
him hereunder, to any other person, except that this Agreement shall inure to the benefit of and be
enforceable by the Executive’s personal or legal representatives, executors, administrators, heirs,
distributees, devisees or beneficiaries.

     14. Modification; Waiver. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing signed by the
Executive and by such director of the Employer as may be specifically designated by the Board.
Waiver by any party of any breach of or failure to comply with any provision of this Agreement by
the other party shall not be construed as, or constitute waiver of such provision, or a waiver of
any other breach of, or failure to comply with, any other provision of this Agreement.

     15. Notice. All notices, requests, demands and other communications required or
permitted to be given by either party shall be in writing, deemed to have been given when delivered
personally or received by certified or registered mail, return receipt requested, postage prepaid,
at the address of the other party as follows:

     If to the Employer to:

MetroCorp Bancshares, Inc.

9600 Bellaire Boulevard., Suite 252

Houston, Texas 77034

Attn: George M. Lee

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     If to Executive to:

Andrew C. Yip

9623 Claiborne Square

La Jolla, California 92037

Either party hereto may change its address for purposes of this Paragraph 15 by giving fifteen (15)
days prior notice to the other party hereto.

     16. Governing Law. This Agreement has been executed and delivered in the State of
Texas, and its validity, interpretation, performance and enforcement shall be governed exclusively
by the laws of that State. Jurisdiction and venue for any enforcement action or dispute related to
this Agreement shall be exclusively in Harris County, Texas, and Executive submits to the exclusive
jurisdiction of Harris County, Texas for all purposes related to this Agreement.

     17. Complete Agreement. This Agreement sets forth the entire agreement of the parties
relating to the subject matter hereof and supersedes any other employment agreements or
understandings, written or oral, between the Employer, its predecessors and the Executive. The
Executive has no oral representations, understandings or agreements with the Employer or any of its
officers, directors or representatives covering the same subject matter as this Agreement. This
Agreement is the final, complete and exclusive statement and expression of the agreement between
the Employer and the Executive and of all the terms of this Agreement, and it cannot be varied,
contradicted or supplemented by evidence of any prior or contemporaneous oral or written
agreements.

     18. Severability. If any portion of this Agreement is held invalid or inoperative,
the other portions of this Agreement shall be deemed valid and operative and, so far as is
reasonable and possible, effect shall be given to the intent manifested by the portion held invalid
or inoperative.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first written above.

	 	 	 	 	 
	 

	 	 	 	 
	 	 	EMPLOYER:
	 
	 	 	 	 
	 	 	MetroCorp Bancshares, Inc.
	 	 	9600 Bellaire Blvd., Suite 252
	 	 	Houston, Texas 77034
	 
	 	 	 	 
	 

	 	By:
	 	/s/ George M. Lee
	 

	 	 	 	 
	 

	 	Name:
	 	George M. Lee
	 

	 	Title:
	 	President and Chief Executive Officer
	 
	 	 	 	 
	 	 	EXECUTIVE:
	 
	 	 	 	 
	 	 	/s/ Andrew C. Yip
	 	 	 
	 	 	Andrew C. Yip

-10-

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