Document:

Form of Executive Supplement Retirement Plan Agreement

 EXHIBIT 10.10 
  
 EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN 
 AGREEMENT 
  
 This Agreement, made and entered
into this 4th day of August, 1998, by and between the Bank of Alabama, a Bank organized and existing under the laws of the State of Alabama hereinafter referred to as “the Bank,” and
                                    , a Key Employee and the
Executive of the Bank, hereinafter referred to as “the Executive.” 
  
 The Executive has been in the employ of the Bank for six years and has now and for years past faithfully served the Bank. It is the consensus of the Board of Directors of the bank (the Board) that the Executive’s
services have been of exceptional merit, in excess of the compensation paid and an invaluable contribution to the profits and position of the Bank in its field of activity. The Board further believes that the Executive’s experience, knowledge
of corporate affairs, reputation and industry contacts are of such value and his continued services are so essential to the Bank’s future growth and profits that it would suffer severe financial loss should the Executive terminate his services.

  
 Accordingly, it is the desire of the Bank and the Executive to
enter into this Agreement under which the Bank will agree to makes certain payments to the Executive upon his retirement and, alternatively, to his beneficiary(ies) in the event of his premature death while employed by the Bank. 
  
 It is the intent of the parties hereto that this Agreement be considered an
arrangement maintained primarily to provide supplemental retirement benefits for the Executive, as a member of a select group of management or highly-compensated employees of the Bank, and to be considered a non-qualified benefit plan for purposes
of the Employee Retirement Security Act of 1974 (ERISA). The Executive is fully advised of the Bank’s financial status and has had substantial input in the design and operation of this benefit plan. 
  
 Therefore, in consideration of the Executive’s services performed in the
past and those to be performed in the, future and based upon the mutual promises and covenants herein contained, the Bank and the Executive, agree as follows: 
  

	I.	DEFINITIONS 

  

	 	A.	Effective Date: 

  
 The effective date of this Agreement shall be August 4, 1998. 
  

	 	B.	Plan Year: 

  
 Any reference to “year” shall mean a calendar year from January 1 to December 31. In the year of implementation, the term
“year’ shall mean the period from the effective date to December 31 of the year of the effective date. 
  

	 	C.	Retirement Date: 

  
 Retirement Date shall mean retirement from service with the Bank which becomes effective on the first day of the calendar month following the month in
which the Executive reaches his sixty-fifth (65th) birthday or such later date as the Executive may actually retire. 
  

	 	D.	Early Retirement Date: 

  
 Early Retirement Date shall mean retirement from service which is effective prior to the Normal Retirement Date stated above, provided the Executive has
attained age sixty (60) and has been employed by the Bank for ten (10) full years from the date of first employment with the Bank. 
  

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	 	E.	Termination of Service: 

  
 Termination of Service shall mean voluntary resignation of service by the Executive or the Bank’s discharge of the Executive without cause
[“cause” defined in Subparagraph III (E) hereinafter], prior to the Normal Retirement Age [described in Subparagraph I (K) hereinafter] or the Early Retirement Date. 
  

	 	F.	Pre-Retirement Account: 

  
 A Pre-Retirement Account shall be established as a liability reserve account on the books of the Bank for the benefit of the Executive. Prior to the
Executive’s Retirement, such liability reserve account shall be increased or decreased each year by an amount equal to the annual earnings or loss for the year determined by the Index (described in Subparagraph I (H) hereinafter), less the
Opportunity Cost for that year (described in Subparagraph I (I) hereinafter). 
  

	 	G.	Index Retirement Benefit: 

  
 The Index Retirement Benefit for the Executive for any year shall be equal to the excess of the annual earnings (if any) determined by the Index
[Subparagraph I (H)] for that year over the Cost of Funds [Subparagraph I (I)], for that year. 
  

	 	H.	Index: 

  
 The Index for any year shall be the aggregate annual after-tax income from the life insurance contracts described hereinafter as defined by FASB Technical
Bulletin 85-4. This Index shall be applied as if such insurance contracts were purchased on the effective date hereof. 
  

			
	Insurance Company:	  	Alexander Hamilton Life Insurance
	Policy Form:	  	Flexible Premium Adjustable Life
	Policy Name:	  	Executive Security Plan IV
	Insured’s Age and Sex:	  	47, Male
	Rulers:	  	None
	Ratings:	  	According to the health of the insured
	Option:	  	B, Level
	Face Amount:	  	$272,000
	Premiums Paid:	  	$100,000
	Number of Premiums Paid:	  	One
	Assumed Purchase Date:	  	August 4, 1998
		
	Insurance Company:	  	Canada Life Assurance
	Policy Form:	  	Whole Life
	Policy Name:	  	C/L 3
	Insured’s Age and Sex:	  	47, Male
	Riders:	  	None
	Ratings:	  	None
	Option: Not	  	Applicable
	Face Amount:	  	$308,379
	Premiums Paid:	  	$100,000
	Number of Premiums Paid:	  	One
	Assumed Purchase Date:	  	August 4, 1998

  
 If such contracts of
life insurance are actually purchased by the Bank then the actual policies as of the dates they were purchased shall be used in calculations under this Agreement. If such contracts of life insurance are not purchased or are subsequently surrendered
or lapsed, then the Bank shall receive annual policy illustrations that assume the above described policies were purchased from the above named insurance company(ies) on the effective date from which the increase in policy value will be used to
calculate the amount of the Index. 
  

 2 

 In either case, references to the life insurance contract are merely for purposes of calculating a
benefit. The Bank has no obligation to purchase such life insurance and, if purchased, the Executive and his beneficiary(ies) shall have no ownership interest in such policy and shall always have no greater interest in the benefits under this
Agreement than that of an unsecured general creditor of the Bank. 
  

	 	I.	Cost of Funds: 

  
 The Cost of Funds for any year shall be calculated by taking the sum of the amount of premiums set forth in the Indexed policies described above plus the
amount of any after-tax benefits paid to the Executive pursuant to this Agreement (Paragraph III hereinafter) plus the amount of all previous years after-tax Cost of Funds Expense, and multiplying that sum by the average after-tax Cost of Funds of
the Bank’s third quarter Call Report for the Plan Year as filed with the Federal Reserve. 
  

	 	J.	Change of Control: 

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

	 	K.	Normal Retirement Age: 

  
 Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65). 
  

	II.	EMPLOYMENT 

  
 No provision of this Agreement shall be deemed to restrict or limit any existing employment agreement by and between the Bank and the Executive, nor shall
any conditions herein create specific employment rights to the Executive nor limit the right of the Employer to discharge the Executive with or without cause. In a similar fashion, no provision shall limit the Executive’s rights to voluntarily
sever his employment at any time. 
  

	III.	INDEX BENEFITS 

  
 The following benefits provided by the Bank to the Executive are in the nature of a fringe benefit and shall in no event be construed to effect nor limit
the Executive’s current or prospective salary increases, cash bonuses or profit-sharing distributions or credits. 
  

	 	A.	Retirement Benefits: 

  
 Should the Executive continue to be employed by the Bank until the “Retirement Date” defined in Subparagraph I (C), he shall be entitled to
receive the balance in his Pre-Retirement Account [as defined in Subparagraph I (F)] in one hundred and twenty (120) equal monthly installments commencing thirty (30) days following the Executive’s retirement. In addition to these
payments, the Index Retirement Benefit (as defined in Subparagraph I (G) above) for each year shall be paid to the Executive until his death. 
  

	 	B.	Early Retirement: 

  
 Should the Executive elect Early Retirement subsequent to the Early Retirement Date [defined in Subparagraph I (D)], he shall be entitled to receive the
balance in the Pre-Retirement Account paid in one hundred and twenty (120) equal monthly installments commencing at the Early Retirement Date [Subparagraph I (C)]. In addition to these payments, and commencing at the Early 

  

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Retirement Date, the Index Retirement Benefit for each year shall be paid to the Executive until his death. 
  

	 	C.	Termination of Service: 

  
 Subject to Subparagraph III (E) hereinafter, should the Executive suffer a termination of service [defined in Subparagraph I (E)], he shall be
entitled to receive ten percent (10%), times the number of full years the Executive has served with the Bank from the date of first employment with the Bank (to a maximum of 100%), times the balance in the Pre-Retirement Account paid in one hundred
and twenty (120) equal monthly installments commencing at the Retirement Date [Subparagraph I(C)]. The Executive shall not be entitled to any other benefits under this Agreement, except as set forth in this paragraph, upon a termination service
unless said termination of service is subsequent to a Change of Control (Paragraph IV). 
  

	 	D.	Death: 

  
 Should the Executive die prior to having received that portion of the Pre-Retirement Account he was entitled to pursuant to Subparagraph A herein above,
as the case may be, the unpaid balance of the Pre-Retirement Account shall be paid in a lump sum to them beneficiary selected by the Executive and filed with the Bank. In the absence of or a failure to designate a beneficiary, the unpaid balance
shall be paid in a lump sum to the personal representative of the Executive’s estate. 
  

	 	E.	Discharge for Cause: 

  
 Should the Executive be discharged for cause at any time prior to his Retirement Date, all Index Benefits under this Agreement [Subparagraphs III (A),
(B), (C), (D) and (F)] shall be forfeited. The term “for cause” shall mean gross negligence or gross neglect or the commission of a felony or gross-misdemeanor involving moral turpitude, fraud, dishonesty or willful violation of any
law that results in any adverse effect on the bank. If a dispute arises as to discharge “for cause”, such dispute shall be resolved by arbitration as set forth in this Agreement. 
  

	 	F.	Disability Benefit: 

  
 In the event the Executive becomes disabled and the Executive’s employment is terminated because of such disability, he shall receive the benefits in
accordance with Subparagraph III (C) above. If there is a dispute regarding whether the Executive is disabled, such dispute shall be resolved by a physician selected by the Bank and such resolution shall be binding upon all parties to this
Agreement. 
  

	 	G.	Death Benefit: 

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

	IV.	RESTRICTIONS UPON FUNDING 

  
 The Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The
Executive, his beneficiary(ies) or any successor in interest to him shall be and remain simply a general creditor of the Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. 
  
 The Bank reserves the absolute right at its sole discretion to either thud
the obligations undertaken by this Agreement or to refrain from funding the same and to determine the exact nature and method of such funding. Should the Bank elect to fund this Agreement, in whole or in part, through the purchase of life insurance,
mutual thuds, disability policies or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall the Executive be deemed to have any lien or right, title or
interest in or to any specific funding investment or to any assets of the Bank. 
  

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 If the Bank elects to invest in a life insurance, disability or annuity policy upon the life of the
Executive, then the Executive shall assist the Bank by freely submitting to a physical exam and supplying such additional information necessary to obtain such insurance or annuities. 
  

	V.	CHANGE OF CONTROL 

  
 Upon a Change of Control (as defined in Subparagraph I (J) herein), if the Executive’s employment is subsequently terminated then he shall
receive the benefits promised in this Agreement upon attaining Normal Retirement Age, as if he had been continuously employed by the Bank until his Normal Retirement Age. The Executive will also remain eligible for all promised death benefits in
this Agreement. In addition, no sale, merger or consolidation of the Bank shall take place unless the new or surviving entity expressly acknowledges the obligations under this Agreement and agrees to abide by its terms. 
  

	VI.	MISCELLANEOUS 

  

	 	A.	Alienability and Assignment Prohibition: 

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

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

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

	 	C.	Revocation: 

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

	 	D.	Gender: 

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

	 	E.	Effect on Other Bank Benefit Plans: 

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

	 	F.	Headings: 

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

 

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	 	G.	Applicable Law: 

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

	VII.	ERISA PROVISION 

  

	 	A.	Named Fiduciary and Plan Administrator: 

  
 The “Named Fiduciary and Plan Administrator” of this plan shall be the Bank of Alabama until its resignation or removal by the Board. As Named
Fiduciary and Administrator, the Bank of Alabama shall be responsible for the management, control and administration of the Salary Continuation Agreement as established herein. The Named Fiduciary may delegate to others certain aspects of the
management and operation responsibilities of the plan including the employment of advisors and the delegation of ministerial duties to qualified individuals. 
  

	 	B.	Claims Procedure and Arbitration: 

  
 In the event a dispute arises over benefits under this Agreement and benefits are not paid to the Executive (or to his beneficiary in the case of the
Executive’s death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the Named Fiduciary and Administrator named above within ninety (90) days from the date payments are refused. The
Named Fiduciary and Administrator and the Bank shall review the written claim and if the claim is denied, in whole or in part, they shall provide in writing within ninety (90) days of receipt of such claim their specific reasons for such
denial, reference to the provisions of this Agreement upon which the denial is based and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants
if a further review of the claim denial is desired. A claim shall be deemed denied if the Named Fiduciary and Administrator fails to take any action within the aforesaid ninety-day period. 
  
 If claimants desire a second review they shall notify the Named Fiduciary
and Administrator in writing within ninety (90) days of the first claim denial. Claimants may review this Agreement or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion,
the Named Fiduciary and Administrator shall then review the second claim and provide a written decision within ninety (90) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include
reference to specific provisions of this Agreement upon which the decision is based. 
  
 If claimants continue to dispute the benefit denial based upon completed performance of this Agreement or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to a Board of
Arbitration for final arbitration. Said Board shall consist of one member selected by the claimant, one member selected by the Bank, and the third member selected by the first two members. The Board shall operate under any generally recognized set
of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such Board with respect to any controversy properly submitted to it for determination.

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

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 IN WITNESS WHEREOF, the parties hereto acknowledge that each has carefully read this Agreement and
executed the original thereof on the 4th day of August, 1998 and that, upon execution, each has received a conforming copy. 
  

									
	 	 	 	 	BANK OF ALABAMA
				
	/s/	 	 	 	 By:
	 	/s/
	Witness	 	 	 	Title
				
	/s/	 	 	 	 	 	/s/
	Witness	 	 	 	[Name]

  

 7Incorporators Stock Option Agreement

 EXHIBIT 10.11 
  
 THIS STOCK OPTION AGREEMENT, THE OPTIONS EVIDENCED HEREBY AND THE COMMON STOCK TO WHICH THEY RELATE HAVE NOT BEEN REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933 AND THE ALABAMA SECURITIES ACT (THE “SECURITIES ACTS”) BUT HAVE BEEN ISSUED PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED
OF IN WHOLE OR IN PART EXCEPT IN ACCORDANCE WITH THE TERMS OF THIS STOCK OPTION AGREEMENT AND UNLESS REGISTERED OR EXEMPTED FROM REGISTRATION UNDER THE SECURITIES ACTS. 
  

			
	No. NISO-001	 	January 15, 1992

  
 INCORPORATORS STOCK
OPTION AGREEMENT 
  
 To Subscribe for and purchase shares of
Common Stock, par value $1.00, of 
  
 FINANCIAL INVESTORS OF
THE SOUTH, INC. 
  
 THIS INCORPORATORS STOCK OPTION AGREEMENT
(this “Agreement”) provides and certifies that W. Dan Puckett (hereinafter the “Optionholder”), is the owner of Thirty Thousand (30,000) Options, each of which entitles the owner thereof to purchase from Financial Investors
of the South, Inc., a Delaware corporation, or its successors (hereinafter called the “Company”), at any time until the expiration hereof, one (1) share of Common Stock of the Company (individually, a “Common Share” and
collectively, the “Common Shares”), at a price which is the greater of (i) Ten Dollars ($10.00) per share (the “Fixed Exercise Price”), or (ii) the book value of a share of Common Stock as of the end of the immediately
preceding quarter ended based upon the number of Common Shares outstanding on the date of exercise (the “Variable Exercise Price”), calculated by the Company’s regular independent certified accountants in accordance with generally
accepted accounting principles (together the Fixed Exercise Price and the Variable Exercise Price are collectively referred to as the “Exercise Price”). For purposes of this Agreement, the term “Common Shares” shall mean the
class of capital stock of the Company designated as common stock, par value $1.00, as of the date hereof and any other class of capital stock of the Company resulting from successive changes or reclassifications of the Common Shares. This Agreement
is made and entered into in consideration of the past and future services provided and to be provided by the Optionholder to the Company; provided that this Agreement is not subject to and shall not bind the Optionholder to provide any such
future services. 
  
 1. Exercise of Options. The Options
evidenced hereby may be exercised by the Optionholder hereof, in whole or in part, at any time, and from time to time, on or before 5:00 P.M., Central time, on January 15, 2004, by the surrender of this Agreement, duly endorsed (unless
endorsement is waived by the Company), with the form of exercise at the end hereof duly executed by such Optionholder, at the principal office of the Company (or at such other office or 

 
agency of the Company as it may designate by notice in writing to the Optionholder hereof at such Optionholder’s last address appearing on the books of
the Company) and upon payment to the Company by certified or official bank check or checks payable to the order of the Company of the purchase price of the Common Shares purchased. The Company agrees that the Common Shares so purchased shall be
deemed to be issued to the Optionholder hereof on the date on which this Agreement shall have been surrendered and payment made for such Common Shares as aforesaid; provided, however, that no such surrender and payment on any date when
the stock transfer books of the Company shall be closed shall be effective to constitute the person entitled to receive such Common Shares as the record holder thereof on such date, but such surrender and payment shall be effective to constitute the
person entitled to receive such Common Shares as the record holder thereof for all purposes immediately after the opening of business on the next succeeding day on which such stock transfer books are open. The certificate(s) for such Common Shares
shall be delivered to the Optionholder within a reasonable time after Options evidenced hereby shall have been so exercised and a new Incorporators Stock Option Agreement, in substantially the form hereof, evidencing the number of Options, if any,
remaining unexercised shall also be issued to the Optionholder within such time unless such Options shall have expired. The right to exercise the Options represented hereby shall expire at 5:00 P.M., Central time, on January 15, 2004. This
Agreement shall terminate at the time of expiration and shares covered hereby shall be released to the Company. 
  
 2. Certain Terms. For purposes hereof, the following shall be applicable: 
  
 a. Record Date. In case the Company shall take a record of the holders of its Common Shares for the purpose of
entitling them (i) to receive a dividend or other distribution payable in Common Shares or securities convertible into or exchangeable for Common Shares (“Convertible Securities”) or (ii) to subscribe for or purchase Common
Shares or Convertible Securities, then such Common Shares or Convertible Securities shall be deemed to have been issued or sold on such record date as a result of the declaration of such dividend or such other distribution or the granting of such
right of subscription or purchase, as the case may be. 
  
 b.
Reorganization, Reclassification, Consolidation, Merger. Prior to the full exercise of the Options evidenced hereby, the Company shall not effect any capital reorganization, reclassification of the capital stock of the Company, any
consolidation or merger of the Company with or into another corporation, or any sale, transfer or other disposition of all or substantially all of the Company’s properties to another person, unless as a condition to such reorganization,
reclassification, consolidation, merger, sale, transfer or other disposition lawful and adequate provision shall be made (including by the issuance of an option agreement in substitution herefor, which option agreement, in order to protect a holder
of options from any dilutive event affecting the Company or successor or surviving corporation, as applicable, and/or affecting the common stock which is the subject of the substitute option agreement, shall provide for normal and customary
antidilution provisions acceptable to each holder of Options and his counsel, including provision for adjustments based upon a market price and a conversion price formula), in form and substance reasonably satisfactory to each Optionholder and his
counsel, whereby each Optionholder shall from time to time thereafter have the right to purchase and receive upon the basis and upon the terms and conditions herein specified and in lieu of the Common Shares from time to time theretofore issuable
upon exercise of the Options, such shares 

 
of stock, securities or properties as may be issuable or payable with respect to or in exchange for a number of outstanding Common Shares equal to the number
of Common Shares immediately theretofore issuable upon exercise of the Options, had such reorganization, reclassification, sale, transfer, disposition, consolidation or merger not taken place, and in any such case appropriate provision shall be made
with respect to the rights and interests of each holder of Options to the end that the provisions hereof shall thereafter be applicable, as nearly equivalent as may be practicable in relation to any shares or stock, securities or properties
thereafter deliverable upon the exercise thereof. 
  
 The Company
shall not effect any such consolidation, merger, sale, transfer or other disposition, unless prior to or simultaneously with the consummation thereof the successor corporation, if other than the Company, resulting from such consolidation or merger,
or the corporation purchasing or otherwise acquiring such properties shall assume, by written instrument executed and mailed or delivered to the holders of Options at the last address of such holders appearing on the books of the Company, the
obligation to deliver to such holders such shares of stock, securities or properties, in accordance with the foregoing provisions, as such holders may be entitled to acquire. The above provisions of this subparagraph (b) shall similarly apply
to successive reorganizations, reclassifications, consolidations, mergers, sales, transfers, or other dispositions. 
  
 c. Fractional Shares. Upon exercise of the Options, fractional Common Shares shall not be issued but any fractional interests in a Common Share
resulting therefrom shall be purchased by the Company for the price obtained by multiplying such fractional interest by the fair market value of a Common Share on the date of such exercise as determined in good faith by the board of directors of the
Company. 
  
 3. Anti-Dilution Provisions. 
  
 a. In the event the Company should at any time or from time to time after
the _____________ ____, 1992 (the “Original Issue Date”), fix a record date for the effectuation of a split or subdivision of the outstanding Common Shares or the determination of holders of Common Shares entitled to receive a dividend or
other distribution payable in additional Common Shares or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional Common Shares (hereinafter referred to as “Common Share
Equivalents”) without payment of any consideration by such holder for the additional Common Shares or the Common Share Equivalents (including the additional Common Shares issuable upon conversion or exercise thereof), then, as of such record
date (or the date of such dividend, distribution, split or subdivision if no record date is fixed), the Fixed Exercise Price shall be adjusted to equal the product obtained by multiplying the Fixed Exercise Price by a fraction the numerator of which
is the number of outstanding Common Shares prior to such split, subdivision, dividend or distribution and the denominator of which is the number of outstanding Common Shares after giving effect to such split, subdivision, dividend or distribution.

  
 b. If the number of Common Shares outstanding at any time
after the Original Issue Date is decreased by a combination of the outstanding Common Shares, then, following the record date of such combination, the Fixed Exercise Price shall be adjusted to equal the product obtained by multiplying the Fixed
Exercise Price by a fraction the numerator 

 
of which is the number of outstanding Common Shares prior to such combination and the denominator of which is the number of outstanding Common Shares after
giving effect to such combination. 
  
 c. In no event shall the
Fixed Exercise Price be adjusted below the par value of the Common Shares issuable upon exercise of this Agreement. 
  
 d. After each adjustment of the Fixed Exercise Price has been calculated pursuant to this Section 3, the total number of Common Shares purchasable
upon the exercise of this Agreement shall be proportionately adjusted to such number of shares as the total Fixed Exercise Price of the number of shares expressed in this Agreement to be purchasable at the original Fixed Exercise Price will pay for
at the adjusted Fixed Exercise Price. The adjustment in the number of Common Shares shall be applicable regardless of whether the Exercise Price is deemed to be the Fixed Exercise Price or the Variable Exercise Price. 
  
 4. Notices. If at any time prior to the full exercise of the Options
evidenced hereby: 
  
 a. The Company shall declare any dividend
on the Common Shares payable in shares of common stock of the Company, cash or other property; or 
  
 b. The Company shall authorize the issue of any options, warrants or rights pro rata to all holders of Common Shares entitling them to subscribe for or
purchase any shares of stock of the Company or receive any other rights; or 
  
 c. There shall occur any reclassification of the Common Shares, or any consolidation or merger of the Company with or into another corporation or person (other than a consolidation or merger in which the Company is
the continuing corporation and which does not result in any reclassification of the Common Shares) or a sale or transfer to another corporation or person of all or substantially all of the properties of the Company; or 
  
 d. There shall occur the voluntary or involuntary liquidation, dissolution
or winding up of the affairs of the Company; 
  
 then, and in each of such cases,
the Company shall deliver to the Optionholder hereof at its last address appearing on the books of the Company, as promptly as practicable but in any event at least five (5) days prior to the applicable record date (or determination date)
mentioned below, a notice stating, to the extent such information is available, (i) the date on which a record is to be taken for the purpose of such dividend, issuance or rights, or, if a record is not to be taken, the date as of which the
holders of Common Shares of record to be entitled to such dividend, issuance or rights are to be determined, or (ii) the date on which such reclassification, consolidation, merger, sale, transfer, liquidation, dissolution or winding up is
expected to become effective and the date as of which it is expected that holders of Common Shares of record shall be entitled to exchange their Common Shares for securities or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer, liquidation, dissolution or winding up. 

 5. Representations and Warranties of the Company. The Company represents and warrants to and
covenants with the Optionholder as follows: 
  
 a. The Company
is a corporation duly organized, validly existing and in good standing under the laws of Delaware, is duly qualified and in good standing under the laws of Alabama and any foreign jurisdiction where the failure to be so qualified would have a
material adverse effect on its ability to perform its obligations under the Options evidenced by this Agreement and it has full corporate power and authority to issue the Options and to carry out the provisions of the Options evidenced by this
Agreement. 
  
 b. The issuance, execution and delivery of this
Agreement has been duly authorized by all necessary corporate action on the part of the Company and this Agreement constitutes the valid and legally binding obligation of the Company, enforceable against it in accordance with the terms hereof,
except as such enforceability may be limited by bankruptcy, reorganization, moratorium, insolvency or other laws affecting generally the enforceability of creditors’ rights, by general principles of equity and by limitations on the availability
of equitable remedies. 
  
 c. Neither the execution and delivery
of this Agreement by the Company, nor compliance by the Company with the provisions hereof, violates any provision of its Certificate of Incorporation or Bylaws or any law, statute, ordinance, regulation, order, judgment or decree of any court or
governmental agency, or conflicts with or will result in any breach of the terms of or constitute a default under or result in the termination of or the creation of any lien pursuant to the terms of any agreement or instrument to which the Company
or to which any subsidiary of the Company, as the case may be, is a party or by which it or such subsidiary or any of their respective properties is bound. 
  
 d. While this Agreement remains outstanding, the Company will mail to the Optionholder copies of all reports and correspondence which the Company mails
or otherwise delivers to its stockholders. 
  
 6. Further
Covenants of the Company. 
  
 a. Dilution or
Impairment. The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issuance or sale of securities or any other voluntary action, avoid or seek
to avoid the observance or performance of any of the terms of the Options or of this Agreement, but will at all times assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to
protect the rights of the Optionholder against dilution or other impairment. Without limiting the generality of the foregoing, the Company: 
  
 (1) shall at all times reserve and keep available, solely for issuance and delivery upon the exercise of the Options, all Common Shares
from time to time issuable upon the exercise of the Options and shall take all necessary actions to ensure that the par value per share, if any, of the Common Shares is at all times equal to or less than the then-effective Exercise Price per share;

 (2) will take all such action as may be necessary or appropriate in order that the
Company may validly and legally issue fully paid and nonassessable Common Shares upon the exercise of the Options from time-to-time outstanding; 
  
 (3) will not issue any capital stock of any class which is preferred as to dividends or as to the distribution of assets upon voluntary or
involuntary dissolution, liquidation or winding-up, unless the rights of the holders thereof shall be limited to a fixed sum or percentage of par value in respect of participation in dividends and in any such distribution of assets; and 

 
 (4) will not transfer all or substantially all of its
properties and assets to any other person (corporate or otherwise), or consolidate with or merge into any other person or permit any such person to consolidate with or merge into the Company (if the Company is not the surviving corporation), unless
such other person shall expressly assume in writing and will be bound by all the terms of this Agreement. 
  
 b. Title to Stock. All of the Common Shares delivered upon the exercise of the Options shall be validly issued, fully paid and nonassessable; the
Optionholder shall receive good and marketable title to the Common Shares, free and clear of all voting and other trust arrangements, liens, encumbrances, equities and claims whatsoever, and the Company shall have paid all Federal and State (but no
foreign, which shall be paid by the Optionholder) original issue taxes, if any, in respect of the issuance thereof; provided, however, the Company shall not be required to pay any tax which may be payable in respect of any transfer
involved in the issue and delivery of Common Shares in any name other than that of the Optionholder, and no issue or delivery shall be made unless and until the person requesting such issue has paid to the Company the amount of any such tax, or has
established to the satisfaction of the Company either that such tax has been paid or that no such tax is payable. 
  
 c. Remedies. The Company stipulates that the remedies at law of the Optionholder or any holder of Common Shares in the event of any default or
threatened default by the Company in the performance of or compliance with any of the terms of this Agreement or the Options are not and will not be adequate and that such terms may be specifically enforced by a decree for the specific performance
of any agreement contained herein or by an injunction against a violation of any of the terms hereof or thereof or otherwise. 
  
 d. Replacement of Options. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of any Option and,
in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, upon surrender and cancellation of such Option, the
Company, at the expense of the Optionholder, will execute and deliver, in lieu thereof, a new Option of like tenor. 
  
 7. Representations, Warranties and Covenants of Optionholder. Optionholder hereby represents and warrants to, and covenants with, the Company that:

 a. Optionholder is entering into this Agreement and shall exercise Options for Common Shares only for
investment, for Optionholder’s own account and not with a view to, or for the sale in connection with, any distribution thereof. 
  
 b. Optionholder is aware that the Options and the Common Shares subject to exercise by Optionholder have not been, and will not be, registered under the
Securities Act of 1933 or any state securities law and, accordingly, that the shares of Common Shares must be held indefinitely by the Optionholder unless they are subsequently registered under the Securities Act of 1933 and any applicable state
securities law or unless a sale or transfer may legally be made without such registration being necessary. Optionholder is further aware that the Company does not intend, nor is it under any obligation, to take any action or bear any expense to
register any of the shares of Common Shares under the Securities Act of 1933 or any state securities law, to make any exemption from registration available for any offer, sale, transfer, assignment or other disposition of such Common Shares by
Optionholder or to obtain any opinion of counsel with respect to any such offer, sale, transfer, assignment or other disposition. 
  
 c. Optionholder has such knowledge and experience in financial and business matters that Optionholder is capable of evaluating the merits and risk of an
investment in Common Shares through an exercise of the Options. 
  
 d. Optionholder has adequate means of providing for Optionholder’s current needs and personal contingencies, Optionholder has no need for liquidity in any investment in the Common Shares, Optionholder has the ability to bear the
economic risk of such an investment and Optionholder can afford a complete loss of an investment pursuant to the exercise of the Options. 
  
 e. Optionholder agrees that the certificate for Common Shares received upon exercise may bear a legend concerning the restrictions on transferability of
the Common Shares. 
  
 8. Compliance with Securities Laws upon
Exercise. All Options are subject to the condition that, if at any time the Company shall determine, in its discretion, that the listing, registration, qualification or filing for an exemption of the Common Shares subject to the Options upon any
securities exchange or under any state or federal law is necessary or desirable as a condition of, or in connection with, the exercise of such Common Shares, such Option may not be exercised in whole or in part unless such listing, registration,
qualification, filing, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company; provided that the foregoing shall not be deemed to delay an exercise of an Option for purposes of
determining whether an exercise of the Options occurred prior to the expiration of the Options. 
  
 9. Rights of Optionholder. The Optionholder shall be deemed the owner hereof and of the Options evidenced hereby for all purposes. The Optionholder
shall not be entitled by virtue of ownership of this Agreement to any voting or dividend rights as a Optionholder of the Company. 

 10. Restrictions on Transfer. This Agreement and the Options evidenced hereby are personal to the
Optionholder and may not be sold, transferred, pledged, hypothecated or otherwise disposed of in whole or in part otherwise than by will or the laws of descent and distribution and are exercisable during Optionholder’s lifetime only by the
Optionholder. No Common Shares of the Company issued upon any exercise of any of the Options may be sold, transferred, pledged, hypothecated or otherwise disposed of in whole or in part except in compliance with the Securities Act of 1933, as
amended, and similar state laws or exemptions therefrom and unless the Company shall have received, an opinion, in form and substance satisfactory to the Company and its counsel, from counsel satisfactory to the Company, that such transfer would not
result in a violation of the Securities Act of 1933 or any applicable state securities laws. Each holder of this Agreement, the Options evidenced hereby and any shares of capital stock of the Company issued upon exercise of any such Options, by
taking or holding the same, consents to and agrees to be bound by the provisions of this Section 10. 
  
 11. Miscellaneous. This Agreement shall be binding upon and shall inure to the benefit of each of the parties hereto and their respective
executors, administrators, personal representatives, heirs and successors in interest. This Agreement shall be governed by and construed in accordance with the laws of the State of Alabama without regard to its choice of law principles. Any
invalidity or unenforceability of any particular provision of this Agreement shall not effect the other provisions hereof, and this Agreement shall be construed in all respects as if such valid and unenforceable provisions were omitted. The
Optionholder hereby consents to any withholding actions that the Company deems reasonably necessary under the Internal Revenue Code of 1986, as amended, and as such may be further amended, any regulations or published interpretations thereof and any
state or local income tax laws. 
  
 IN WITNESS WHEREOF, FINANCIAL
INVESTORS OF THE SOUTH, INC. has caused this Incorporators Stock Option Agreement to be signed by a duly authorized officer, and this Founders Stock Option Agreement to be dated the date hereof. 
  

			
	 FINANCIAL INVESTORS OF THE SOUTH, INC.

		
	By:	 	 /s/ W. Dan Puckett 

	 Its:
	 	 Chairman and President

  

	
	ACCEPTED AND AGREED.
	
	 /s/ W. Dan Puckett

	W. Dan Puckett

  
  
  

 FORM OF EXERCISE 
  
 (to be executed by the Optionholder) 
  

The undersigned hereby exercises _______________ Options to subscribe for and purchase shares of common stock, par value $1.00 (“Common
Shares”), of Financial Investors of the South, Inc. evidenced by the within Agreement and herewith makes payment of the purchase price in full. Kindly issue certificates for the Common Shares in accordance with the instructions given below. The
agreement for the unexercised balance of the Options evidenced by the foregoing Agreement, if any, will be made in the name of the undersigned. 
  

	Dated: _____________________	

  
 __________________________________________ 
  
 Instructions for registration of shares 
  
 Name (please print) 
  
 Social Security or Other Identifying 

	Number: ____________________________	

  
 Address: 
  
 Street 
  
 City, State and Zip Code

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