Document:

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                                                                   EXHIBIT 10.1

                              Employment Agreement
                                     Between
                         The Southern Banc Company, Inc.
                               and Gates B. Little

                                 2001 Amendment
                                 --------------

          WHEREAS, The Southern Banc Company, Inc. (the "Company") has entered
into an Employment Agreement (the "Agreement") with Gates B. Little (the
"Employee"); and

          WHEREAS, the Board of Directors of the Company (the "Board") and the
Employee have determined that it is appropriate to amend the Agreement to
redefine the Employee's position with the Company.

          NOW, THEREFORE, the Agreement shall be amended as follows, effective
immediately.

          1.  The first sentence in Section 1 sha1l be amended by replacing
              "Vice President" with "President and Chief Executive Officer."

          2.  Nothing contained herein sha1l be held to alter, vary or otherwise
              affect any of the terms, provisions or conditions of the Agreement
              other than as stated above.

          WHEREFORE, on this 19th day of April, 2001, the undersigned hereby
approve this 2001 Amendment to the Agreement.

                                  THE SOUTHERN BANC COMPANY, INC.

                                   By _________________________________
                                      Its  Secretary

                                      _________________________________
                                                        Gates B. Little<PAGE>

                                                                Exhibit 10.2

                             Employment Agreement
                                    Between
                           The Southern Bank Company
                                and Gates Little

                                 2000 Amendment
                                 --------------

     WHEREAS, The Southern Bank Company (the "Bank") has entered into an
Employment Agreement (the "Agreement") with Gates Little (the "Employee"); and

     WHEREAS, the Board of Directors of the Bank (the "Board") and the Employee
have determined that it is appropriate to amend the Agreement to redefine the
Employee's position with the Bank.

     NOW, THEREFORE, the Agreement shall be amended as follows, effective
immediately.

     1.   The first sentence in Section 1 shall be amended by replacing "V ice
          President" with "President and Chief Operating Officer."

     2.   Nothing contained herein shall be held to alter, vary or otherwise
          affect any of the terms, provisions or conditions of the Agreement
          other than as stated above.

     WHEREFORE, on this 2lst day of September 2000, the undersigned hereby
approve this 2000 Amendment to the Agreement.

                                  THE SOUTHERN BANK COMPANY

                                  By_______________________________
                                     Its Secretary

                                     ______________________________
                                                     Gates Little<PAGE>

                                                                   EXHIBIT 10.3

                              Employment Agreement
                                     Between
                         The Southern Banc Company, Inc.
                            and James B. Little, Jr.

                                 2001 Amendment
                                 --------------

     WHEREAS, The Southern Banc Company, Inc. (the "Company") has entered into
an Employment Agreement (the "Agreement") and a Supplemental Executive
Retirement Agreement (the "SERA") with James B. Little Jr. (the "Employee"); and

     WHEREAS, the Board of Directors of the Company (the "Board") and the
Employee have determined that it is appropriate to amend the Agreement (i) to
redefine the Employee's position with the Company, (ii) and to provide for a
lump sum payment in satisfaction of the benefits to which the Employee is
entitled under his SERA.

     NOW, THEREFORE, the Agreement shall be amended as follows effective
immediately.

     1.   The first sentence in Section 1 shall be amended by replacing
          "President" with  "Investment Officer."

     2.   The second sentence of Section 1 shall be amended by adding the
          following at the end thereof:

                ; provided that the Employee shall not be required to perform
                services for the Bank and its holding company in excess of 20
                hours per week.

     3.   Nothing contained herein shall be held to alter, vary or otherwise
          affect any of the terms, provisions or conditions of the Agreement
          other than as stated above.

     WHEREFORE, on this 19th day of April, 2001, the undersigned hereby
     approve this  2001 Amendment to the Agreement.

                              THE SOUTHERN BANC COMPANY, INC.

                                   By _____________________________
                                      Its Secretary

                                      _____________________________
                                                 James B. Little Jr.<PAGE>

                                                                   EXHIBIT 10.4

                              Employment Agreement
                                     Between
                            The Southern Bank Company
                             and James B. Little Jr.

                                 2000 Amendment
                                 --------------

     WHEREAS, The Southern Bank Company (the "Bank") has entered into an
Employment Agreement (the "Agreement") with James B. Little Jr. (the
"Employee"); and

     WHEREAS, the Board of Directors of the Bank (the "Board") and the Employee
have determined that it is appropriate to amend the Agreement to redefine the
Employee's position with the Bank.

     NOW, THEREFORE, the Agreement shall be amended as follows, effective
immediately.

     1.   The first sentence in Section 1 shall be amended by replacing
          "President" with "Chief Executive Officer."

     2.   Nothing contained herein shall be held to alter, vary or otherwise
          affect any of the terms, provisions or conditions of the Agreement
          other than as stated above.

     WHEREFORE, on this 21st day of September 2000, the undersigned hereby
approve this 2000 Amendment to the Agreement.

                                         THE SOUTHERN BANK COMPANY

                                         By _______________________________
                                            Its Secretary

                                         ________________________________
                                                     James B. Little, Jr.<PAGE>

                          MICROSTRATEGY INCORPORATED

                             AMENDED AND RESTATED
                            1999 STOCK OPTION PLAN
                            ----------------------

1.   Purpose
     -------

     The purpose of this 1999 Stock Option Plan (the "Plan") of MicroStrategy
Incorporated, a Delaware corporation (the "Company"), is to enhance the
Company's ability to attract, retain and motivate persons who make (or are
expected to make) important contributions to the Company by providing such
persons with equity ownership opportunities and performance-based incentives and
thereby better aligning the interests of such persons with those of the
Company's stockholders.  Except where the context otherwise requires, the term
"Company" shall include any of the Company's present or future subsidiary
corporations as defined in Section 424(f) of the Internal Revenue Code of 1986,
as amended, and any regulations promulgated thereunder (the "Code").

2.   Eligibility
     -----------

     All of the Company's employees, officers, directors (including directors
who are not employees of the Company), consultants and advisors (and any
individuals who have accepted an offer for employment) are eligible to be
granted options (each, an "Award") under the Plan.  Each person who has been
granted an Award under the Plan shall be deemed a "Participant".

3.   Administration, Delegation
     --------------------------

     (a)  Administration by Board of Directors. The Plan will be administered by
          ------------------------------------
the Board of Directors of the Company (the "Board"). The Board shall have
authority to grant Awards and to adopt, amend and repeal such administrative
rules, guidelines and practices relating to the Plan as it shall deem advisable.
The Board may correct any defect, supply any omission or reconcile any
inconsistency in the Plan or any Award in the manner and to the extent it shall
deem expedient to carry the Plan into effect and it shall be the sole and final
judge of such expediency. All decisions by the Board shall be made in the
Board's sole discretion and shall be final and binding on all persons having or
claiming any interest in the Plan or in any Award. No director or person acting
pursuant to the authority delegated by the Board shall be liable for any action
or determination relating to or under the Plan made in good faith.

     (b)  Delegation to Executive Officers. To the extent permitted by
          --------------------------------
applicable law, the Board may delegate to one or more executive officers of the
Company the power to make Awards and exercise such other powers under the Plan
as the Board may determine, provided that the Board shall fix the maximum number
of shares subject to Awards and the maximum number of shares for any one
Participant to be made by such executive officers.

     (c)  Appointment of Committees. To the extent permitted by applicable law,
          -------------------------
the Board may delegate any or all of its powers under the Plan to one or more
committees or subcommittees of the Board (a "Committee"). All references in the
Plan to the "Board" shall mean the Board or a Committee of the Board or the
executive officer referred to in Section 3(b) to the extent that the Board's
powers or authority under the Plan have been delegated to such
<PAGE>

Committee or executive officer.

4.   Stock Available for Awards
     --------------------------

     (a)  Number of Shares. Subject to adjustment under Section 6 (except as
          ----------------
such provisions relate to stock splits effected prior to May 11, 2000), Awards
may be made under the Plan for up to 23,500,000 shares of Class A Common Stock,
$0.001 par value per share, of the Company (the "Common Stock"). If any Award
expires or is terminated, surrendered or canceled without having been fully
exercised or is forfeited in whole or in part or results in any Common Stock not
being issued, the unused Common Stock covered by such Award shall again be
available for the grant of Awards under the Plan, subject, however, in the case
of Incentive Stock Options (as hereinafter defined), to any limitation required
under the Code. Shares issued under the Plan may consist in whole or in part of
authorized but unissued shares or treasury shares.

     (b)  Per-Participant Limit. Subject to adjustment under Section 6, for
          ---------------------
Awards granted after the Common Stock is registered under the Securities
Exchange Act of 1934 (the "Exchange Act"), the maximum number of shares of
Common Stock with respect to which an Award may be granted to any Participant
under the Plan shall be 1,000,000 per calendar year. The per-Participant limit
described in this Section 4(b) shall be construed and applied consistently with
Section 162(m) of the Code.

5.   Stock Options
     -------------

     (a)  General.  The Board may grant options to purchase Common Stock (each,
          -------
an "Option") and determine the number of shares of Common Stock to be covered by
each Option, the exercise price of each Option and the conditions and
limitations applicable to the exercise of each Option, including conditions
relating to applicable federal or state securities laws, as it considers
necessary or advisable. An Option which is not intended to be an Incentive Stock
Option (as hereinafter defined) shall be designated a "Nonstatutory Stock
Option".

     (b)  Incentive Stock Options.  An Option that the Board intends to be an
          -----------------------
"incentive stock option" as defined in Section 422 of the Code (an "Incentive
Stock Option") shall only be granted to employees of the Company and shall be
subject to and shall be construed consistently with the requirements of Section
422 of the Code. The Company shall have no liability to a Participant, or any
other party, if an Option (or any part thereof) which is intended to be an
Incentive Stock Option is not an Incentive Stock Option.

     (c)  Exercise Price. The Board shall establish the exercise price at the
          --------------
time each Option is granted and specify it in the applicable option agreement.

     (d) Duration of Options. Each Option shall be exercisable at such times
         -------------------
and subject to such terms and conditions as the Board may specify in the
applicable option agreement.

     (e)  Exercise of Options. Options may be exercised by delivery to the
          ---------------------
Company of a written notice of exercise signed by the proper person or by any
other form of notice (including electronic notice) approved by the Board
together with payment in full as specified in Section 5(f) for the number of
shares for which the Option is exercised.

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     (f)  Payment Upon Exercise.  Common Stock purchased upon the exercise of an
          ---------------------
Option granted under the Plan shall be paid for as follows:

          (1)  in cash or by check, payable to the order of the Company;

          (2)  except as the Board may, in its sole discretion, otherwise
provide in an option agreement, by (i) delivery of an irrevocable and
unconditional undertaking by a creditworthy broker to deliver promptly to the
Company sufficient funds to pay the exercise price or (ii) delivery by the
Participant to the Company of a copy of irrevocable and unconditional
instructions to a creditworthy broker to deliver promptly to the Company cash or
a check sufficient to pay the exercise price;

          (3)  to the extent permitted by the Board, in its sole discretion, by
delivery of shares of Common Stock owned by the Participant valued at their fair
market value as determined by (or in a manner approved by) the Board in good
faith ("Fair Market Value"), provided (i) such method of payment is then
permitted under applicable law and (ii) such Common Stock was owned by the
Participant at least six months prior to such delivery;

          (4)  to the extent permitted by the Board, in its sole discretion by
(i) delivery of a promissory note of the Participant to the Company on terms
determined by the Board, or (ii) payment of such other lawful consideration as
the Board may determine; or

          (5)  by any combination of the above permitted forms of payment.

     (g)  Buyout Provisions.  The Board may at any time offer to purchase for a
          -----------------
payment in cash, promissory note or shares of Common Stock, an Option previously
granted, based on such terms and conditions as the Board shall establish and
communicate to the Participant at the time that such offer is made.

6.   Adjustments for Changes in Common Stock and Certain Other Events
     ----------------------------------------------------------------

     (a)  Changes in Capitalization. In the event of any stock split, reverse
          -------------------------
stock split, stock dividend, recapitalization, combination of shares,
reclassification of shares, spin-off or other similar change in capitalization
or event, or any distribution to holders of Common Stock other than a normal
cash dividend, (i) the number and class of securities available under this Plan,
(ii) the per-Participant limit set forth in Section 4(b), (iii) the number and
class of securities and exercise price per share subject to each outstanding
Option, and (iv) the terms of each other outstanding Award shall be
appropriately adjusted by the Company (or substituted Awards may be made, if
applicable) to the extent the Board shall determine, in good faith, that such an
adjustment (or substitution) is necessary and appropriate. If this Section 6(a)
applies and Section 6(c) also applies to any event, Section 6(c) shall be
applicable to such event, and this Section 6(a) shall not be applicable. Except
as expressly provided herein, no issuance by the Company of shares of stock of
any class, or securities convertible into shares of stock of any class, shall
affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an Award.

     (b)  Liquidation or Dissolution.  In the event of a proposed liquidation or
          --------------------------
dissolution of the Company, the Board shall upon written notice to the
Participants provide that all then

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unexercised Options will (i) become exercisable in full as of a specified time
at least 10 business days prior to the effective date of such liquidation or
dissolution and (ii) terminate effective upon such liquidation or dissolution,
except to the extent exercised before such effective date. The Board may specify
the effect of a liquidation or dissolution on any Award granted under the Plan
at the time of the grant of such Award.

     (c)  Acquisition Events
          ------------------

          (1)  Definition.  An "Acquisition Event" shall mean:
               ----------

               (a)  any merger or consolidation of the Company with or into
                    another entity as a result of which the Common Stock is
                    converted into or exchanged for the right to receive cash,
                    securities or other property; or

               (b)  any exchange of shares of the Company for cash, securities
                    or other property pursuant to a statutory share exchange
                    transaction.

          (2)  Effect on Options. Upon the occurrence of an Acquisition Event,
               -----------------
or the execution by the Company of any definitive agreement with respect to an
Acquisition Event, the Board shall provide that all outstanding Options shall be
assumed, or equivalent options shall be substituted, by the acquiring or
succeeding corporation (or an affiliate thereof); provided that if the acquiring
or succeeding corporation (or an affiliate thereof) does not agree to assume, or
substitute for, such Options, then the Board shall, upon written notice to the
Participants, provide that all of the then unexercised Options will become
exercisable in full as of a specified time prior to the Acquisition Event, and
will terminate immediately prior to the occurrence of the Acquisition Event,
except to the extent exercised by the Participants before the consummation of
such Acquisition Event; provided, however, that in the event of an Acquisition
Event under the terms of which holders of Common Stock will receive upon
consummation thereof a cash payment for each share of Common Stock surrendered
pursuant to such Acquisition Event (the "Acquisition Price"), then the Board may
instead provide that all outstanding Options shall terminate upon consummation
of such Acquisition Event and that each Participant shall receive, in exchange
therefor, a cash payment equal to the amount (if any) by which (A) the
Acquisition Price multiplied by the number of shares of Common Stock subject to
the outstanding Options held by such Participant (whether or not exercisable),
exceeds (B) the aggregate exercise price of such Options. For purposes hereof,
an Option shall be considered to be assumed if, following consummation of the
Acquisition Event, the Option confers the right to purchase, for each share of
Common Stock subject to the Option immediately prior to the consummation of the
Acquisition Event, the consideration (whether cash, securities or other
property) received as a result of the Acquisition Event by holders of Common
Stock for each share of Common Stock held immediately prior to the consummation
of the Acquisition Event (and if holders were offered a choice of consideration,
the type of consideration chosen by the holders of a majority of the outstanding
shares of Common Stock); provided, however, that if the consideration received
as a result of the Acquisition Event is not solely common stock of the acquiring
or succeeding corporation (or an affiliate thereof), the Company may, with the
consent of the acquiring or succeeding corporation , provide for the
consideration to be received upon the exercise of Options to consist solely of
common stock of the acquiring or succeeding corporation

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<PAGE>

(or an affiliate thereof) equivalent in fair market value to the per share
consideration received by holders of outstanding shares of Common Stock as a
result of the Acquisition Event.

7.   General Provisions Applicable to Awards
     ---------------------------------------

     (a)  Transferability of Awards. Except as the Board may otherwise determine
          -------------------------
or provide in an Award, Awards shall not be sold, assigned, transferred, pledged
or otherwise encumbered by the person to whom they are granted, either
voluntarily or by operation of law, except by will or the laws of descent and
distribution, and, during the life of the Participant, shall be exercisable only
by the Participant. References to a Participant, to the extent relevant in the
context, shall include references to authorized transferees.

     (b)  Documentation. Each Award shall be evidenced by a written instrument
          -------------
in such form as the Board shall determine. Each Award may contain terms and
conditions in addition to those set forth in the Plan.

     (c)  Board Discretion. Except as otherwise provided by the Plan, each Award
          ----------------
may be made alone or in addition or in relation to any other Award. The terms of
each Award need not be identical, and the Board need not treat Participants
uniformly.

     (d)  Termination of Status. The Board shall determine the effect on an
          ---------------------
Award of the disability, death, retirement, authorized leave of absence or other
change in the employment or other status of a Participant and the extent to
which, and the period during which, the Participant, the Participant's legal
representative, conservator or guardian may exercise rights under the Award.

     (e)  Withholding. Each Participant shall pay to the Company, or make
          -----------
provision satisfactory to the Board for payment of, any taxes required by law to
be withheld in connection with Awards to such Participant no later than the date
of the event creating the tax liability. Except as the Board may otherwise
provide in an Award, when the Common Stock is registered under the Exchange Act,
Participants may, to the extent then permitted under applicable law, satisfy
such tax obligations in whole or in part by delivery of shares of Common Stock,
including shares retained from the Award creating the tax obligation, valued at
their Fair Market Value. The Company may, to the extent permitted by law, deduct
any such tax obligations from any payment of any kind otherwise due to a
Participant.

     (f)  Amendment of Award.  The Board may amend, modify or terminate any
          ------------------
outstanding Award, including but not limited to, substituting therefor another
Award of the same or a different type, changing the date of exercise or
realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option, provided that the Participant's consent to such action shall be required
unless the Board determines that the action, taking into account any related
action, would not materially and adversely affect the Participant.

     (g)  Conditions on Delivery of Stock.  The Company will not be obligated to
          -------------------------------
deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all
conditions of the Award have been met or removed to the satisfaction of the
Company, (ii) in the opinion of the Company's counsel, all other legal matters
in connection with the issuance and delivery of such shares have been

                                       5
<PAGE>

satisfied, including any applicable securities laws and any applicable stock
exchange or stock market rules and regulations, and (iii) the Participant has
executed and delivered to the Company such representations or agreements as the
Company may consider appropriate to satisfy the requirements of any applicable
laws, rules or regulations.

     (h)  Acceleration. The Board may at any time provide that any Options shall
          ------------
become immediately exercisable in full or in part or that any other Awards may
become exercisable in full or in part or free of some or all restrictions or
conditions, or otherwise realizable in full or in part, as the case may be.

8.   Miscellaneous
     -------------

     (a)  No Right To Employment or Other Status. No person shall have any claim
          --------------------------------------
or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan, except as expressly provided in the
applicable Award.

     (b)  No Rights As Stockholder.  Subject to the provisions of the applicable
          ------------------------
Award, no Participant shall have any rights as a stockholder with respect to any
shares of Common Stock to be distributed with respect to an Award until becoming
the record holder of such shares. Notwithstanding the foregoing, in the event
the Company effects a split of the Common Stock by means of a stock dividend and
the exercise price of and the number of shares subject to such Option are
adjusted as of the date of the distribution of the dividend (rather than as of
the record date for such dividend), then an optionee who exercises an Option
between the record date and the distribution date for such stock dividend shall
be entitled to receive, on the distribution date, the stock dividend with
respect to the shares of Common Stock acquired upon such Option exercise,
notwithstanding the fact that such shares were not outstanding as of the close
of business on the record date for such stock dividend.

     (c)  Effective Date and Term of Plan. The Plan shall become effective on
          -------------------------------
the date on which it is adopted by the Board, but no Award granted to a
Participant designated by the Board as subject to Section 162(m) of the Code by
the Board shall become exercisable, vested or realizable, as applicable to such
Award, unless and until the Plan has been approved by the Company's stockholders
to the extent stockholder approval is required by Section 162(m) (including the
vote required under Section 162(m)). No Awards shall be granted under the Plan
after the completion of ten years from the earlier of (i) the date on which the
Plan was adopted by the Board or (ii) the date the Plan was approved by the
Company's stockholders, but Awards previously granted may extend beyond that
date.

     (d)  Amendment of Plan. The Board may amend, suspend or terminate the Plan
          -----------------
or any portion thereof at any time, provided that to the extent required by
Section 162(m) of the Code, no Award granted after the date of such amendment to
a Participant designated as subject to Section 162(m) by the Board shall become
exercisable, realizable or vested, as applicable to such Award (to the extent
that such amendment to the Plan was required to grant such Award to a particular
Participant), unless and until such amendment shall have been approved by the

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<PAGE>

Company's stockholders as required by Section 162(m) (including the vote
required under Section 162(m)).

     (e)  Governing Law. The provisions of the Plan and all Awards made
          -------------
hereunder shall be governed by and interpreted in accordance with the laws of
the State of Delaware, without regard to any applicable conflicts of law.

                                    Adopted by the Board of Directors on April
                                    17, 2001.

                                    Approved by the Stockholders on  _____ __,
                                    2001.

                                       7

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