Document:

ex10-10.htm

    
      

    

    EXHIBIT
10.10

     

    UNITED
COMMUNITY BANKS

    MODIFIED
RETIREMENT PLAN

    (As
Amended And Restated Effective As Of

    January
1, 2005, Except Where Otherwise Noted)

     

              Pursuant
to the authorization of its Board of Directors, UNITED COMMUNITY BANKS, INC.
(“the Company”), a Georgia bank holding company located in Blairsville, Georgia,
established the United Community Banks Modified Retirement Plan (the “Plan”),
effective as of January 1, 2004. The Company does hereby amend and restate the
Plan, effective as of January 1, 2005, except where a different effective date
is indicated for a specific provision (each such date is referred to as an
“Effective Date”), and subject to the transition rules of Section
409A.

     

              The
purpose of this Plan is to provide specified benefits to a select group of
management or highly compensated Employees who contribute materially to the
continued growth, development and future business success of the Company and its
Subsidiaries that participate in this Plan. This Plan shall be unfunded for tax
purposes and for purposes of Title I of the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”).

     

    ARTICLE
1

    DEFINITIONS

     

              The
following words and phrases shall have the following meanings, unless the
context requires otherwise:

    
      
        	 
      	 
      
	
                1.1

              	
                “Accrued
      Benefit” means the amount payable at Normal Retirement Age equal to
      the Participant’s Retirement Benefit described in Section 3.2 multiplied
      by a fraction, not to exceed one, the numerator of which is the
      Participant’s actual number of Years of Service and the denominator of
      which is the Participant’s potential number of Years of Service to Normal
      Retirement Age (determined beginning on the Participant’s hire date and
      continuing as if the Participant continued employment with the Employer
      until his Normal Retirement Age), provided that the Plan Administrator may
      provide on an Appendix or a Participation Agreement applicable to a
      Participant for a different method to determine the Accrued Benefit
      fraction through adjustment of the Participant’s hire date or otherwise.
      The Participation Agreement may provide for payment of a specified benefit
      amount at an age earlier than the Participant’s Normal Retirement Age,
      which amount may exceed the Participant’s Accrued Benefit at such
      age.

              
	 
      	 
      
	
                1.2

              	
                “Actuarial
      Equivalent” means an actuarial equivalent value of an amount
      payable in a different form or at a different date computed on the basis
      of the following actuarial
assumptions:

              

      

    

    

    
      
        
          
            	
                     

                  	Mortality:	
                    GAR
      94 unisex mortality table

                    set
      forth in Revenue Ruling

                    2001-62

                  
	
                     

                  	Interest
      Rate:	
                    7.00%

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	 
      	
                  As
      the Plan Administrator deems necessary, in its sole discretion, the above
      actuarial assumptions may be adjusted from time to time, and no
      Participant shall be deemed to have any right, vested or nonvested,
      regarding the continued use of any previously adopted actuarial
      assumptions.

                
	 
      	 
      
	
                  1.3

                	
                  “Beneficiary”
      means a Participant’s designated Eligible Spouse or other person entitled
      to benefits, if any, upon the death of a Participant determined pursuant
      to Articles 3 and 4.

                
	 
      	 
      
	
                  1.4

                	
                  “Beneficiary
      Designation Form” means the form established from time to time by
      the Plan Administrator that a Participant completes, signs and returns to
      the Plan Administrator to designate a Beneficiary.

                
	 
      	 
      
	
                  1.5

                	
                  “Board” means
      the Board of Directors of the Company as from time to time
      constituted.

                
	 
      	 
      
	
                  1.6

                	
                  “Change in
      Control” means for purposes of the Plan any of the
      following:

                
	 
      	 
      
	 
      	
                  (A)

                	
                  The
      acquisition (other than from the Company) by any Person of Beneficial
      Ownership of twenty percent (20%) or more of the combined voting power of
      the Company’s then outstanding voting securities; provided, however, that
      for purposes of this Section 1.6, Person shall not include any person who
      on January 1, 2004 owned ten percent (10%) or more of the Company’s
      outstanding securities, and a Change in Control shall not be deemed to
      occur solely because twenty percent (20%) or more of the combined voting
      power of the Company’s then outstanding securities is acquired by (i) a
      trustee or other fiduciary holding securities under one (1) or more
      employee benefit plans maintained by the Company or any of its
      Subsidiaries, or (ii) any corporation, which, immediately prior to such
      acquisition, is owned directly or indirectly by the shareholders of the
      Company in the same proportion as their ownership of stock in the Company
      immediately prior to such acquisition.

                
	 
      	 
      	 
      
	 
      	
                  (B)

                	
                  Consummation
      by the Company of (1) a merger or consolidation involving the Company if
      the shareholders of the Company, immediately before such merger or
      consolidation do not, as a result of such merger or consolidation, own,
      directly or indirectly, more than fifty percent (50%) of the combined
      voting power of the then outstanding voting securities of the corporation
      resulting from such merger or consolidation in substantially the same
      proportion as their ownership of the combined voting power of the voting
      securities of the Company outstanding immediately before such merger or
      consolidation, or (2) a complete liquidation or dissolution of the Company
      or the sale or other disposition of all or substantially all of the assets
      of the Company.

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	 
      	
                  (C)

                	
                  A
      change in the composition of the Board such that the individuals who, as
      of January 1, 2004, constitute the Board (such Board shall be hereinafter
      referred to as the “Incumbent Board”) cease for any reason to constitute
      at least a majority of the Board; provided, however, for purposes of this
      Section 1.6 that any individual who becomes a member of the Board
      subsequent to January 1, 2004 whose election, or nomination for election
      by the Company’s shareholders, was approved by a vote of at least a
      majority of those individuals who are members of the Board and who were
      also members of the Incumbent Board (or deemed to be such pursuant to this
      proviso) shall be considered as though such individual were a member of
      the Incumbent Board; but, provided, further, that any such individual
      whose initial assumption of office occurs as a result of either an actual
      or threatened election contest (as such terms are used in Rule 14a-11 of
      Regulation 14A promulgated under the Exchange Act, including any successor
      to such Rule), or other actual or threatened solicitation of proxies or
      consents by or on behalf of a Person other than the Board, shall not be so
      considered as a member of the Incumbent Board.

                
	 
      	 
      	 
      
	 
      	
                  Notwithstanding
      anything else to the contrary set forth in this Plan, if (i) an agreement
      is executed by the Company providing for any of the transactions or events
      constituting a Change in Control as defined herein, and the agreement
      subsequently expires or is terminated without the transaction or event
      being consummated, and (ii) Participant’s employment did not terminate
      during the period after the agreement and prior to such expiration or
      termination, for purposes of this Plan it shall be as though such
      agreement was never executed and no Change in Control event shall be
      deemed to have occurred as a result of the execution of such
      agreement.

                
	 
      	 
      
	
                  1.7

                	
                  “Change in Control
      Benefit” means the benefit as set forth in Section
    3.7.

                
	 
      	 
      	 
      
	
                  1.8

                	
                  “Code” means the
      Internal Revenue Code of 1986, as amended.

                
	 
      	 
      	 
      
	
                  1.9

                	
                  “Company” means
      United Community Banks, Inc., a bank holding company organized under the
      laws of Georgia.

                
	 
      	 
      	 
      
	
                  1.10

                	
                  “Disability”
      means the Participant has been determined to be “Disabled” (i) under
      the Company’s long-term disability plan covering the Participant, or
      (ii) in accordance with standards established by the Plan
      Administrator consistent with the requirements of Section 409A based on
      the Participant’s inability to perform his duties as a result of an injury
      or sickness.

                
	 
      	 
      	 
      
	
                  1.11

                	
                  “Disability Retirement
      Benefit” means the benefit as set forth in Section
    3.4.

                
	 
      	 
      	 
      
	
                  1.12

                	
                  “Early Retirement
      Age” means, if provided for in the Participation Agreement with
      respect to a Participant, the Participant reaching the designated age and
      completing the number of Years of Service as set forth in the
      Participation Agreement applicable to such Participant. If no Early
      Retirement Age is provided for in the Participation Agreement, then the
      Participant’s Early Retirement Age shall be his Normal Retirement
      Age.

                
	 
      	 
      	 
      
	
                  1.13

                	
                  “Election Form”
      means the form established from time to time by the Plan Administrator
      that a Participant completes, signs and returns to the Plan Administrator
      to make elections under the
Plan.

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  1.14

                	
                  “Eligible
      Spouse” means the individual to whom the Participant is legally
      married on the earlier of the Participant’s date of benefit commencement
      or date of death.

                
	 
      	 
      	 
      
	
                  1.15

                	
                  “Employee” means
      a person who is an active employee of an Employer.

                
	 
      	 
      	 
      
	
                  1.16

                	
                  “Employer” means
      the Company and any of its Subsidiaries (now in existence or hereafter
      formed or acquired) that have been designated by the Board to participate
      in the Plan.

                
	 
      	 
      	 
      
	
                  1.17

                	
                  “Normal Retirement
      Age” means with respect to a Participant (i) the Participant
      reaching age sixty-five (65) and completing at least five (5) Years of
      Service, or (ii) the Participant’s designated age and Years of Service as
      set forth in the Participation Agreement applicable to such
      Participant.

                
	 
      	 
      	 
      
	
                  1.18

                	
                  “Participant”
      means any Employee (i) who is selected to participate in the Plan by
      the Plan Administrator (subject, where applicable, to ratification by the
      Compensation Committee), (ii) who elects to participate in the Plan,
      (iii) who signs a Participation Agreement and a Beneficiary
      Designation Form, (iv) whose signed Participation Agreement and
      Beneficiary Designation Form are accepted by the Plan Administrator,
      (v) who commences participation in the Plan, and (vi) whose
      Participation Agreement has not terminated.

                
	 
      	 
      	 
      
	
                  1.19

                	
                  “Participation
      Agreement” means a written agreement, as may be amended from time
      to time, which is entered into between a Participant and the Company. Each
      Participation Agreement executed by a Participant shall provide for the
      benefit to which such Participant is entitled under the Plan, the terms
      and conditions applicable to such benefit, and the Participation Agreement
      bearing the latest date of acceptance by the Plan Administrator shall
      govern such entitlement.

                
	 
      	 
      	 
      
	
                  1.20

                	
                  “Plan
      Administrator” means the committee or individual appointed by the
      Company as described in Article 6. In the absence of such appointment, the
      Company shall serve as the Plan Administrator.

                
	 
      	 
      	 
      
	
                  1.21

                	
                  “Plan Year”
      means the twelve (12) month period from January 1 to December
      31.

                
	 
      	 
      	 
      
	
                  1.22

                	
                  “Pre-Retirement Death
      Benefit” means the benefit as set forth in Section
    3.8.

                
	 
      	 
      	 
      
	
                  1.23

                	
                  “Prior Plan”
      means the Executive Revenue Neutral Retirement Agreement or similar
      agreement covering a Participant which was replaced by and superceded in
      its entirety by the Plan and the Participation Agreement, effective as of
      January 1, 2004.

                
	 
      	 
      	 
      
	
                  1.24

                	
                  “Retirement
      Benefit” means the benefit payable as set forth in Section
      3.2.

                
	 
      	 
      	 
      
	
                  1.25

                	
                  Section 409A”
      means Section 409A of the Code, as it may be amended from time to time,
      and the regulations and rulings
thereunder.

                

        

      

    

     

    
      
        
          	
                  1.26

                	
                  “Subsidiary”
      means any corporation, partnership, limited liability company, joint
      venture or other entity in which the Company has, directly or indirectly,
      a fifty percent (50%) or greater voting
  interest.

                

        

         

        
          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

         

        
          	
                  1.27

                	
                  “Termination for
      Cause” means, notwithstanding any provision of this Plan to the
      contrary, the Company shall not pay any benefit under this Plan, if the
      Company terminates the Participant’s employment for Cause. Termination of
      the Participant’s employment for “Cause” shall mean termination because of
      (i) willful misconduct on the part of a Participant that is materially
      detrimental to the Company; or (ii) the conviction of a Participant for
      the commission of a felony. The existence of “Cause” under either (i) or
      (ii) shall be determined by the Plan Administrator. Notwithstanding the
      foregoing, if the Participant has entered into an employment agreement
      that is binding as of the date of employment termination, and if such
      employment agreement defines “Cause,” and/or provides a means of
      determining whether “Cause” exists, such definition of “Cause” and means
      of determining its existence shall supersede this provision. For purposes
      of this paragraph, no act or failure to act on the Participant’s part
      shall be considered “willful” unless done, or omitted to be done, by the
      Participant not in good faith and without reasonable belief that the
      Participant’s action or omission was in the best interest of the
      Company.

                
	 
      	 
      	 
      
	
                  1.28

                	
                  “Termination of
      Employment” means the date on which the Participant ceases to
      perform services for an Employer.

                
	 
      	 
      	 
      
	
                  1.29

                	
                  “Years of
      Service” means the twelve consecutive month period beginning on a
      Participant’s date of hire with the Employer and any twelve (12) month
      anniversary thereof, during the entirety of which time the Participant is
      an Employee of an Employer. Service for partial years shall be calculated
      pro-rated based on the number of months completed. Service with a
      Subsidiary or other entity controlled by the Company before the time such
      entity became a Subsidiary or under such control shall not be considered a
      “Year of Service” unless the Plan Administrator specifically agrees to
      credit such service. In addition, the Plan Administrator in its discretion
      may provide on an Appendix or in a Participation Agreement for the grant
      of additional Years of Service in such circumstances where it deems such
      additional service appropriate and in the best interests of the
      Company.

                

        

      

    

     

    ARTICLE
2

    ELIGIBILITY
AND PARTICIPATION

    
      	 
      	 
      
	
              2.1

            	
              Selection by Plan
      Administrator. Participation in the Plan shall be limited to a
      select group of management and highly compensated employees of an
      Employer, as determined by the Plan Administrator in its sole discretion.
      From that group, the Plan Administrator shall select the Employees to
      participate in the Plan (subject, where applicable, to ratification by the
      Compensation Committee).

            
	 
      	 
      
	
              2.2

            	
              Enrollment
      Requirements. As a condition to participation, each selected
      Employee shall complete, execute and return to the Plan Administrator a
      Participation Agreement and a Beneficiary Designation Form. In addition,
      the Plan Administrator shall establish from time to time such other
      enrollment requirements as it determines in its sole discretion are
      necessary or desirable.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	 
      	 
      
	
                2.3

              	
                Eligibility;
      Commencement of Participation. Provided an Employee selected to
      participate in the Plan has met all enrollment requirements set forth in
      this Plan and required by the Plan Administrator, that Employee will
      become a Participant in the Plan and will be eligible to receive benefits
      at the time and in the manner provided hereunder, subject to the
      provisions of the Plan.

              
	 
      	 
      
	
                2.4

              	
                Termination of
      Participation and/or Eligibility. If the Plan Administrator
      determines in good faith that a Participant no longer qualifies as a
      member of a select group of management or highly compensated employees,
      the Plan Administrator shall have the right, in its sole discretion,
      (i) to provide that the Participant shall cease accruing additional
      benefits hereunder, and/or (ii) to terminate the Participant’s
      participation in the Plan. A Participant who ceases active participation
      in the Plan but remains employed shall receive his benefits upon
      Termination of Employment in accordance with
    Article 3.

              

      

    

     

    ARTICLE
3

    BENEFITS

    
      
        
          	 
      	 
      
	
                  3.1

                	
                  Plan Benefits.
      Each Participant’s benefits under the Plan shall be limited to those
      described in this Article 3 and the Participation Agreement, and shall be
      subject to any conditions and limitations set forth in Article 5 and
      contained elsewhere in this Plan and the Participation
      Agreement.

                
	 
      	 
      
	
                  3.2

                	
                  Retirement
      Benefit. If the Participant retires from employment on or after
      attaining Early Retirement Age, the Company shall pay to the Participant
      the Annual Target Benefit as set forth in the Participation Agreement
      reduced, to the extent provided in the Participation Agreement, if the
      benefit commences prior to the Participant’s Normal Retirement Age. Unless
      a Participant chooses an Alternative Payment Method, the Company shall pay
      the Retirement Benefit to the Participant in the form of a life annuity,
      commencing within ninety (90) days following the Participant’s Termination
      of Employment and payable on or about the first day of each successive
      month thereafter until the Participant’s death, provided if the
      Participant has an Eligible Spouse on the date his benefits commence, the
      Retirement Benefit shall be payable in the form of a life with 100%
      survivor annuity as described in Section 3.10(ii) below (unless the
      Participant elects an Alternative Payment Method). Upon making all of such
      installments, the Company’s obligation to provide such payments will
      cease. No further benefit under this Plan is to be
    provided.

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	
                      3.3

                    	
                      Disability Retirement
      Benefit. A Participant shall be eligible for a Disability
      Retirement Benefit if he retires by reason of Disability and his
      Disability Retirement Date shall be the day next following the day on
      which the Participant is deemed to have a Disability as defined in Section
      1.10. The amount of the Participant’s Disability Retirement Benefit shall
      be equal to his Accrued Benefit as of his Disability Retirement Date. A
      Disability Retirement Benefit shall commence as of the first day of the
      calendar month next following the Participant’s Normal Retirement Age and
      shall be payable in the form of a life annuity, provided that if the
      Participant has an Eligible Spouse on the date his benefits commence, the
      Disability Retirement Benefit shall be payable in the form of a life with
      100% survivor annuity as described in Section 3.10(ii) below (unless the
      Participant elects an Alternative Payment Method). The Committee may in
      its sole discretion provide that a Participant who has a Disability will
      be credited with additional Years of Service after the Participant’s
      Disability Retirement Date.

                    
	 
      	 
      
	
                      3.4

                    	
                      Vested Participant
      Benefit. A Participant shall become vested in his Accrued Benefit
      upon attainment of age 55 and completion of five (5) Years of Service. A
      Vested Participant shall be entitled to his Accrued Benefit determined as
      of his date of Termination of Employment. Payment of such benefit shall
      commence on the first day of the calendar month next following the Vested
      Participant’s attainment of his Early Retirement Age. The Participant’s
      Vested Accrued Benefit shall be payable as a life annuity, provided that
      if the Participant has an Eligible Spouse on the date his benefit
      commences, the Vested Benefit shall be payable in the form of a life with
      100% survivor annuity as described in Section 3.10(ii).

                    
	 
      	 
      
	
                      3.5

                    	
                      Termination Prior to
      Completion of Vesting Requirements. Except in the event of a
      Participant’s death, Disability, or attainment of his Early Retirement
      Age, a Participant whose termination date occurs prior to meeting the
      vesting requirements of Section 3.4 shall be entitled to no benefits under
      this Plan.

                    
	 
      	 
      
	
                      3.6

                    	
                      Change in Control
      Benefit. Upon a Change in Control prior to the commencement of
      payment of benefits to a Participant under this Article, a Participant
      shall become immediately vested in the greater of the Participant’s Early
      Retirement Benefit or Accrued Benefit, which benefit shall be payable
      commencing at the later of the Participant’s Termination of Employment or
      the Participant’s attainment of the Early Retirement Age specified in the
      Participation Agreement. Notwithstanding any other provisions of this
      Plan, the Change in Control Benefit shall not be reduced for each month
      that the commencement of the Change in Control Benefit precedes the
      Participant’s Normal Retirement Age. Unless a Participant chooses an
      Alternative Payment Method, the Company shall pay the Change in Control
      Benefit to the Participant in the form of a life annuity, commencing on
      the date set forth in this section and payable on or about the first day
      of each successive month thereafter until the Participant’s death,
      provided if the Participant has an Eligible Spouse on the date his
      benefits commence, the Change in Control Benefit shall be payable in the
      form of life with 100% survivor annuity as described in Section 3.10(ii)
      below (unless the Participant elects an Alternative Payment Method). Upon
      making all of such installments, the Company’s obligation to provide such
      payments will cease. No further benefit under this Plan is to be
      provided.

                    

            

          

        

      

    

     

    
      
        
          	
                  3.7

                	
                  Pre-Retirement Age
      Death Benefit for Married Participant. If a Participant entitled to
      a Vested Participant Benefit pursuant to Section 3.4 dies prior to Early
      Retirement Age, if provided for in the Participant’s Participation
      Agreement and has a surviving Eligible Spouse, the Company shall pay to
      the Participant’s Eligible Spouse commencing at the date that would have
      been the Participant’s Early Retirement Age a survivor benefit amount
      equal to the benefit due as though

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (i)

                	
                  the
      Participant had terminated from Service just prior to his or her
      death,

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (ii)

                	
                  the
      Participant had survived to his Early Retirement
  Age,

                

        

         

        
          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

         

        
          	 
      	 
      	
                  (iii)

                	
                  at
      the Participant’s Early Retirement Age, the Participant had elected a life
      and 100% survivor benefit, and

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (iv)

                	
                  the
      Participant dies immediately after his or her election.

                
	 
      	 
      	 
      	 
      
	 
      	
                  The
      survivor benefit shall be payable to the Participant’s surviving Eligible
      Spouse commencing on the date indicated above over the Eligible Spouse’s
      lifetime. Upon making all of such payments, the Company’s obligation to
      provide such payments will cease. No further benefit under this Plan is to
      be provided.

                
	 
      	 
      	 
      	 
      
	
                  3.8

                	
                  Death Benefit for
      Married Participant After Attaining Early Retirement Age. If a
      married Participant dies prior to commencing retirement payments but after
      attaining Early Retirement Age as set forth in the Participation
      Agreement, and has a surviving Eligible Spouse, the Company shall pay the
      Participant’s Eligible Spouse the 100% survivor benefit under the
      Participant’s life and 100% Survivor benefit, as defined in Article
      3.10(ii), as if the Participant had terminated from service and commenced
      benefits just prior to his death. The benefit shall be payable to the
      surviving Eligible Spouse over the Eligible Spouse’s lifetime. Upon making
      all of such payments, the Company’s obligation to provide such payments
      will cease. No further benefit under this Plan is to be
      provided.

                
	 
      	 
      
	
                  3.9

                	
                  Death of Unmarried
      Participant. If a Participant who does not have an Eligible Spouse
      dies while employed by the Company after completing the requirements for a
      Vested Participant Benefit, the Participant’s Beneficiary shall be paid an
      amount equal to fifty percent (50%) of the lump sum Actuarial Equivalent
      of the Participant’s Accrued Benefit (subject, if applicable, to reduction
      for early payment). The pre-retirement death benefit under this Section
      3.9 shall be payable in five (5) substantially equal annual installments
      commencing on the date the Participant would have attained Early
      Retirement Age or if the Participant had already attained Early Retirement
      Age at the date of death, the first day of the month following the date of
      death.

                
	 
      	 
      
	
                  3.10

                	
                  Alternative Payment
      Methods. A Participant may choose on the Election Form one of the
      following alternative forms of benefit payments that will apply when the
      Participant’s benefit commences:

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (i)

                	
                  A
      life annuity payable for the Participant’s life only with payments ceasing
      upon the Participant’s death;

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (ii)

                	
                  Life
      with 100% continuation to his surviving Eligible Spouse, where payments
      continue without reduction until the later of the Participant’s death or
      the death of a designated Eligible
Spouse;

                

        

      

    

     

    
      
        
          	 
      	 
      	
                  (iii)

                	
                  Life
      with 50% continuation to his surviving Eligible Spouse, where payments
      continue until the Participant’s death then, if the designated Eligible
      Spouse survives the Participant, fifty percent (50%) of the payment is
      paid to such designated Eligible Spouse until his or her
      death;

                

        

         

        
          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

         

        
          	 
      	 
      	
                  (iv)

                	
                  15
      year period certain (180 monthly payments) with no further payment after
      15 years, provided that if the Participant dies prior to receiving 180
      monthly payments, his designated Beneficiary will receive the remainder of
      such 180 monthly payments.

                
	 
      	 
      	 
      	 
      
	 
      	
                  The
      amount of any alternative payment shall be based on the Actuarial
      Equivalent of the benefit that would otherwise be
  payable.

                
	 
      	 
      	 
      	 
      
	 
      	
                  An
      eligible Participant may change the election of the form of benefit
      payment among the annuity options in (i), (ii) and (iii) above by
      submitting a new Election Form, provided that if a Participant who is
      entitled to, or has elected, an annuity option under (i), (ii) or (iii)
      above wants to elect the 15-year period certain option in (iv) above or to
      change the Participant’s election from the 15-year period certain option
      to an annuity option in (i), (ii) or (iii) above, the following rules
      shall apply: (i) the request for a change must be made at least one year
      prior to the date the Participant’s distributions would otherwise
      commence; (ii) the new payment commencement date will be five (5)
      years after the date of commencement of payment previously elected by the
      Participant; and (iii) only one such change is
    permitted.

                
	 
      	 
      	 
      	 
      
	
                  3.11

                	
                  Withholding and
      Payroll Taxes. The Company shall withhold from any and all benefit
      payments made under this Article 3, all federal, state and local income
      taxes, employment and other taxes required to be withheld by the Company
      in connection with the benefits hereunder, in amounts to be determined in
      the sole discretion of the Company. If employment or other taxes are
      required to be withheld prior to payment of benefits, the Company may
      reduce the Participant’s other compensation, require that the Participant
      remit to the Company additional amounts, or make such other arrangements
      with the Participant as the Company shall determine to be necessary to
      satisfy such obligation.

                
	 
      	 
      	 
      	 
      
	
                  3.12

                	
                  Prior Plan
      Benefits. An Employee who participated in a Prior Plan shall not be
      eligible to participate in this Plan and no benefit shall be payable to,
      or for the benefit of, such Employee under this Plan until the Employee
      has waived and released all of his rights under the Prior Plan (and to any
      insurance policies or contracts relating to the Prior Plan) in a manner
      satisfactory to the Plan Administrator. In the event for any reason an
      Employee receives any benefit under a Prior Plan, the Employee’s benefits
      under this Plan shall be reduced in an equitable manner (as determined by
      the Plan Administrator) by the amount of benefits received from the Prior
      Plan.

                
	 
      	 
      	 
      	 
      
	
                  3.13

                	
                  Section 409A
      Compliance. To the extent applicable, this Plan shall at all times
      be operated in accordance with the requirements of Section 409A, including
      any applicable transition rules. The Company shall have authority to take
      action, or refrain from taking any action, with respect to the payments
      and benefits under this Plan that is reasonably necessary to comply with
      Section 409A. Notwithstanding the other provisions of this Article 3,
      in the event a Participant who is a “key employee” (as determined by the
      Plan Administrator in accordance with rules established by the Plan
      Administrator under Section 409A) becomes entitled to payment of his
      benefits, payment shall not commence until 6 months and a day after his
      Termination of Employment (unless otherwise permitted by Section 409A) and
      on such date the payments that would have been made during such six-month
      period shall be made in a lump
sum.

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE
4

    BENEFICIARY

    
      
        	 
      	 
      
	
                4.1

              	
                Beneficiary. A
      married Participant’s Eligible Spouse shall be entitled to receive any
      benefits payable under the Plan upon the death of a Participant, provided,
      that, the Participant may designate someone other than his or her Eligible
      Spouse as a Beneficiary, but that designation shall only be effective if
      the Participant elects the 15-year period Alternative Payment Method
      pursuant to Section 3.11(iv), and the Participant dies after commencing to
      receive benefit payments and prior to the expiration of the 15-year
      period. The Beneficiary designated under this Plan may be the same as or
      different from the Beneficiary designation under any other plan of an
      Employer in which the Participant participates. An unmarried Participant
      may designate a Beneficiary for the benefit payable pursuant to Section
      3.10.

              
	 
      	 
      
	
                4.2

              	
                Beneficiary
      Designation; Change. A Participant shall designate a Beneficiary by
      completing and signing the Beneficiary Designation Form, and delivering it
      to the Plan Administrator or its designated agent. The Participant’s
      beneficiary designation shall be deemed automatically revoked if the
      Beneficiary predeceases the Participant or if the Participant designates
      his Eligible Spouse and the marriage is subsequently dissolved or
      terminated. A Participant shall have the right to change a Beneficiary by
      completing, signing and otherwise complying with the terms of the
      Beneficiary Designation Form and the Plan Administrator’s rules and
      procedures, as in effect from time to time. Upon the acceptance by the
      Plan Administrator of a new Beneficiary Designation Form, all Beneficiary
      designations previously filed shall be cancelled. The Plan Administrator
      shall be entitled to rely on the last Beneficiary Designation Form filed
      by the Participant and accepted by the Plan Administrator prior to the
      Participant’s death.

              
	 
      	 
      
	
                4.3

              	
                Acknowledgment.
      No designation or change in designation of a Beneficiary shall be
      effective until received, accepted and acknowledged in writing by the Plan
      Administrator or its designated agent.

              
	 
      	 
      
	
                4.4

              	
                No Beneficiary
      Designation. If a married Participant who has elected the 15-year
      period payment option dies after commencing to receive payments without a
      valid Beneficiary designation, then the Participant’s Eligible Spouse
      shall be the designated Beneficiary. If an unmarried Participant dies
      without designating a surviving Beneficiary, the benefits (or remaining
      benefits) shall be paid to the personal representative on behalf of the
      Participant’s estate.

              

      

    

     

    
      
        
          	
                  4.5

                	
                  Facility of
      Payment. If the Plan Administrator determines in its discretion
      that a benefit is to be paid to a minor, to a person declared incompetent,
      or to a person incapable of handling the disposition of that person’s
      property, the Plan Administrator may direct payment of such benefit to the
      guardian, legal representative or person having the care or custody of
      such minor, incompetent person or incapable person. The Plan Administrator
      may require proof of incompetence, minority or guardianship, as it may
      deem appropriate prior to distribution of the benefit. Any payment of a
      benefit shall be a payment for the account of the Participant and the
      Participant’s Beneficiary, as the case may be, and shall be a complete
      discharge of any liability under the Plan for such payment
      amount.

                

        

      

    

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    ARTICLE
5

    GENERAL
LIMITATIONS ON BENEFITS

    
      
        	 
      	 
      	 
      	 
      
	
                5.1

              	
                Termination for
      Cause. If there is a Termination for Cause by an Employer of the
      Participant’s employment, the Participant shall cease participation
      hereunder as of the date of such Termination for Cause and all benefits
      payable (or to be payable) to the Participant or the Participant’s
      Beneficiary shall be forfeited, unless the Plan Administrator determines
      in its sole discretion to pay part or all of the Participant’s Accrued
      Benefit.

              
	 
      	 
      	 
      	 
      
	
                5.2

              	
                Restrictive Covenant
      Provisions. (a) If, during his employment with an Employer or
      at any time during the one (1) year period after his Termination of
      Employment (“Restriction Period”), the Participant violates any of the
      Restrictive Covenants set forth in subsections (i) through (v) below, the
      Participant (and his Beneficiary) shall forfeit all rights to any benefits
      under the Plan. During the Restriction Period, the Participant shall
      not:

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                (i)

              	
                solicit
      any Customers for the purpose of providing services identical to or
      reasonably substitutable for the Company’s Business;

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                (ii)

              	
                solicit
      or induce, or in any manner attempt to solicit or induce, any Person
      employed by the Company to leave such employment, whether or not such
      employment is pursuant to a written contract with the Company or any
      Affiliate or is at will;

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                (iii)

              	
                engage
      in any Restricted Activities within the Territory or from a business
      location servicing any part of the Territory;

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                (iv)

              	
                manage
      any personnel engaging in any Restricted Activities within the Territory;
      or

              
	 
      	 
      	 
      	 
      
	 
      	 
      	
                (v)

              	
                knowingly
      or intentionally damage or destroy the goodwill and esteem of the Company,
      any Affiliate, the Company’s Business or the Company’s or any Affiliate’s
      suppliers, employees, patrons, customers , and others who may at any time
      have or have had relations with the Company or any
    Subsidiary.

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          	 
      	 
      	 
      	
                  The
      Participant further agrees that he or she will not, except as necessary to
      carry out his duties as an employee of the Company, disclose or use
      Confidential Information. The Participant further agrees that, upon
      termination or expiration of employment with the Company for any reason
      whatsoever or at any time, the Participant will upon request by the
      Company deliver promptly to the Company all materials (including
      electronically-stored materials), documents, plans, records, notes, or
      other papers, and any copies in the Participant’s possession or control,
      relating in any way to the Company’s Business, which at all times shall be
      the property of the Company.

                
	 
      	 
      	 
      	 
      
	 
      	
                  (b)

                	
                  For
      purposes of this Section 5.2, the following terms shall have the meanings
      specified below:

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (i)

                	
                  “Company’s
      Business” means the business of operating a commercial or retail bank,
      savings association, mutual thrift, credit union, trust company,
      securities brokerage or insurance agency.

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (ii)

                	
                  “Confidential
      Information” means information, without regard to form, relating to the
      Company’s or any Affiliate’s customers, operation, finances, and business
      that derives economic value, actual or potential, from not being generally
      known to other Persons, including, but not limited to, technical or
      non-technical data (including personnel data), formulas, patterns,
      compilations (including compilations of customer information), programs,
      devices, methods, techniques, processes, financial data or lists of actual
      or potential customers (including identifying information about
      customers), whether or not in writing. Confidential Information includes
      information disclosed to the Company or any Affiliate by third parties
      that the Company or any Affiliate is obligated to maintain as
      confidential. Confidential Information subject to this Agreement may
      include information that is not a trade secret under applicable law, but
      information not constituting a trade secret only shall be treated as
      Confidential Information under this Agreement for a two (2) year period
      after the Date of Termination.

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (iii)

                	
                  “Customers”
      means all Persons that (1) the Participant serviced or solicited on behalf
      of the Company or any Affiliate, (2) whose dealings with the Company or
      any Affiliate were coordinated or supervised, in whole or in part, by the
      Participant, or (3) about whom the Participant obtained Confidential
      Information, in each case during the term of this Agreement or while
      otherwise employed by the Company.

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (iv)

                	
                  “Date
      of Termination” means the date upon which the Participant’s employment
      with the Company ceases for any
reason.

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	 
      	 
      	
                  (v)

                	
                  “Person”
      means any individual, corporation, bank, partnership, joint venture,
      association, joint-stock company, trust, unincorporated organization or
      other entity.

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (vi)

                	
                  “Restricted
      Activities” means serving as a director, officer, executive, manager,
      employee or business consultant for a commercial or retail bank, savings
      association, mutual thrift, credit union, trust company, securities
      brokerage or insurance agency.

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (vii)

                	
                  “Territory”
      means the Territory as defined in the Participant’s most recent Award
      Agreement under the 2000 Key Employee Stock Option
Plan.

                
	 
      	 
      	 
      	 
      
	 
      	
                  (c)

                	
                  The
      Participant expressly acknowledges and agrees that: (i) the restrictions
      set forth in this Section 5.2 are reasonable, in terms of scope, duration,
      geographic area, and otherwise, (ii) the protections afforded the Company
      in Section 5.2 are necessary to protect its legitimate business interest,
      (iii) the restrictions set forth in Section 5.2 will not be materially
      adverse to the Participant’s employment with the Company, and (iv) his
      agreement to observe such restrictions forms a material part of the
      consideration for this Plan.

                
	 
      	 
      	 
      	 
      
	 
      	
                  (d)

                	
                  It
      is the intention of the parties that if any restrictive covenant in this
      Plan is determined by a court of competent jurisdiction to be overly
      broad, then the court should enforce such restrictive covenant to the
      maximum extent permitted under the law as to area, breadth and
      duration.

                
	 
      	 
      	 
      	 
      
	
                  5.3

                	
                  Change in
      Control. The non-compete and non-solicitation provisions set forth
      in Section 5.2 shall not be enforceable against a Participant following a
      Change in Control, provided that if the Participant has violated such
      provisions prior to a Change in Control, his benefits shall not be
      restored unless the Plan Administrator elects to reinstate the
      Participant’s benefits.

                
	 
      	 
      	 
      	 
      
	
                  5.4

                	
                  Participant’s Suicide
      or Misstatement. An Employee shall not be considered a Participant
      and the Company shall not pay any benefit under this Plan if the
      Participant commits suicide within three years after the date of the
      Participant’s initial Participation Agreement. In addition, an Employee
      shall not be considered a Participant and the Company shall not pay any
      benefit under this Plan if the Participant has made any material
      misstatement of fact on any application for insurance or any benefits
      provided by the Company to, or with respect to, the
      Participant.

                

        

      

    

     

    ARTICLE
6

    ADMINISTRATION
OF PLAN

    
      
        	 
      	 
      
	
                6.1

              	
                Plan Administrator
      Duties. This Plan shall be administered by a Plan Administrator
      that shall be an individual or committee appointed by the Board. The Plan
      Administrator shall have the discretionary authority to (i) make, amend,
      interpret and enforce all appropriate rules and regulations for the
      administra­tion of this Plan and (ii) decide or resolve any and all
      ques­tions including interpretations of this Plan, as may arise in
      connection with the Plan or the benefits payable under the
      Plan.

              

      

    

     

    
      
        
          	
                  6.2

                	
                  Agents. In the
      administration of this Plan, the Plan Administrator may employ agents and
      delegate to them such administrative duties as it sees fit, (including
      acting through a duly appointed representative), and may from time to time
      consult with counsel who may be counsel to an
  Employer.

                

        

         

        
          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

         

        
          	
                  6.3

                	
                  Binding Effect of
      Decisions. The decision or action of the Plan Administrator with
      respect to any question arising out of or in connection with the
      administration, interpretation and application of the Plan and the rules
      and regulations promulgated hereunder shall be final and conclusive and
      binding upon all persons having any interest in the
  Plan.

                
	 
      	 
      
	
                  6.4

                	
                  Indemnity of Plan
      Administrator. The Company shall indemnify and hold harmless the
      Plan Administrator (and any members of a committee serving as Plan
      Administrator) against any and all claims, losses, damages, expenses or
      liabilities arising from any action or failure to act with respect to this
      Plan, except in the case of willful misconduct by the Plan Administrator
      or any of its members.

                
	 
      	 
      
	
                  6.5

                	
                  Employer
      Information. To enable the Plan Administrator to perform its
      functions, the Employers shall supply full and timely information to the
      Plan Administrator on all matters relating to the compensation of their
      Participants, the date and circumstances of the retirement, Disability,
      death or Termination of Employment of their Participants, and such other
      pertinent information as the Plan Administrator may reasonably
      require.

                

        

      

    

     

    ARTICLE
7

    CLAIMS
AND REVIEW PROCEDURE

     

              A
Participant who believes that he is entitled to benefits under the Plan which
have not been paid must file a written claim for such benefits. All claims for
benefits shall be in writing and shall be filed with the Plan Administrator. If
the Plan Administrator wholly or partially denies a Participant’s claim for
benefits, the Plan Administrator shall give the claimant written notice within
sixty (60) days after the Plan’s receipt of the claim setting
forth:

    
      
        	 
      	 
      	 
      
	 
      	
                (a)

              	
                the
      specific reason(s) for the denial;

              
	 
      	 
      	 
      
	 
      	
                (b)

              	
                specific
      reference to pertinent Plan provisions on which the denial is
      based;

              
	 
      	 
      	 
      
	 
      	
                (c)

              	
                a
      description of any additional material or information which must be
      submitted to perfect the claim, and an explanation of why such material or
      information is necessary; and

              
	 
      	 
      	 
      
	 
      	
                (d)

              	
                an
      explanation of the Plan’s claim review
  procedure.

              

      

    

     

              Each
Participant whose claim for benefits has been denied may file a written request
for a review of his claim by the Plan Administrator. The request for review must
be filed by the Participant within 60 days after he received the written notice
denying his claim. The decision of the Plan Administrator will be made within 60
days after receipt of a request for review and shall be communicated in writing
to the Participant. Such written notice shall set forth the basis for the Plan
Administrator’s decision. If there are special circumstances which require an
extension of time for completing the review, the Plan Administrator’s decision
shall be rendered not later than 120 days after receipt of a request for
review.

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

              The
Plan Administrator shall have the exclusive discretionary authority to construe
and to interpret the Plan, to decide all questions of eligibility for benefits
and to determine the amount of such benefits and its decision on such matters
are final and conclusive

     

    ARTICLE
8

    AMENDMENT
AND TERMINATION OF THE PLAN

    
      
        	 
      	 
      
	
                8.1

              	
                Termination.
      The Company reserves the right to terminate the Plan at any time by the
      actions of the Board. In addition, the Company reserves the right to
      terminate an Employer’s participation (and such Employer’s Employees’
      participation) in the Plan by action of the Board; provided, however, that
      upon such termination, the Plan Administrator in its discretion may
      determine that all Participants who cease to be eligible to continue
      participation in the Plan because of such action will become one hundred
      percent (100%) vested in the greater of their Accrued Benefit or their
      Annual Target Benefit. Further, the termination of the Plan shall not
      adversely affect any Participant or his or her Beneficiary who has become
      entitled to the payment of any benefits under the Plan as of the date of
      termination regardless of whether payment of such benefits has commenced
      and the benefits of such affected Participant or Beneficiary shall be
      payable at the time and in the manner provided in
      Article 3.

              
	 
      	 
      
	
                8.2

              	
                Amendment. The
      Company may, at any time, amend or modify the Plan in whole or in part by
      the actions of the Board. The amendment or modification of the Plan shall
      not affect any Participant or his or her Beneficiary who has become
      entitled to the payment of benefits under the Plan as of the date of the
      amendment or modification.

              
	 
      	 
      
	
                8.3

              	
                Termination of
      Participation Agreement. Absent the earlier termination,
      modification or amendment of the Plan, the Participation Agreement of any
      Participant shall terminate upon the full payment of the applicable
      benefits as provided under
Article 3.

              

      

    

     

    ARTICLE
9

    MISCELLANEOUS

    
      	 
      	 
      
	
              9.1

            	
              Unsecured General
      Creditor. Participants and their Beneficiaries shall have no legal
      or equitable rights, interests or claims in any property or assets of the
      Company or an Employer. The Company’s or Employer’s obligation under the
      Plan shall be merely that of an unfunded and unsecured promise to pay
      money in the future.

            

    

     

    
      
        
          	
                  9.2

                	
                  Not a Contract of
      Employment. The terms and conditions of this Plan shall not be
      deemed to constitute a contract of employment between an Employer and the
      Participant. Such employment is hereby acknowledged to be an “at will”
      employment relationship that can be terminated at any time for any reason,
      with or without cause, unless expressly provided in a written employment
      agreement. Nothing in this Plan shall be deemed to give a Participant the
      right to be retained in the service of an Employer or to interfere with
      the right of an Employer to discipline or discharge the Participant at any
      time.

                

        

         

        
          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

         

        
          	
                  9.3

                	
                  Participation in Other
      Plans. Nothing herein contained shall be construed to alter,
      abridge, or in any manner affect the rights and privileges of the
      Participant to participate in and be covered by any pension, profit
      sharing, group insurance, bonus or similar employee plans which an
      Employer may now or hereafter maintain.

                
	 
      	 
      
	
                  9.4

                	
                  Alienability.
      Neither the Participant nor any Beneficiary under this Plan 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 Participant or the Participant’s Beneficiary or any of them,
      or to be transferable by operation of law in the event of bankruptcy,
      insolvency, or otherwise. In the event the Participant or any Beneficiary
      attempts assignment, commutation, hypothecation, transfer, or disposal of
      the benefit hereunder such action shall be of no force or effect and the
      Company’s obligations hereunder to such Participant or Beneficiary shall
      immediately cease and terminate.

                
	 
      	 
      
	
                  9.5

                	
                  Successors. The
      provisions of this Plan shall bind and inure to the benefit of the Company
      and its successors and assigns and the Participant and the Participant’s
      Beneficiary.

                
	 
      	 
      
	
                  9.6

                	
                  Reorganization.
      The Company shall require any corporation with which it merges or
      consolidates or to which it sells substantially all of its assets to
      assume and discharge the obligations of the Company under this Plan. Upon
      the occurrence of such event, the term “Company” as used in this Plan
      shall be deemed to refer to such succeeding or continuing company, firm,
      or person.

                
	 
      	 
      
	
                  9.7

                	
                  Interpretation.
      Wherever the fulfillment of the intent and purpose of this Plan requires,
      and the context will permit, the use of the masculine gender includes the
      feminine and use of the singular includes the plural.

                
	 
      	 
      
	
                  9.8

                	
                  Alternative
      Action. In the event it shall become impossible for the Company or
      the Plan Administrator to perform any act required by this Plan, the
      Company or Plan Administrator may in its discretion perform such
      alternative act as most nearly carries out the intent and purpose of this
      Plan.

                
	 
      	 
      
	
                  9.9

                	
                  Applicable Law.
      Subject to ERISA, the provisions of this Plan shall be construed and
      interpreted in accordance with the laws of the state of Georgia, without
      regard to its conflict of law principles.

                
	 
      	 
      
	
                  9.10

                	
                  Headings.
      Article and section headings are for convenient reference only and shall
      not control or affect the meaning or construction of any of its
      provisions.

                

        

      

    

    
      
        	 
      	 
      
	
                9.11

              	
                Furnishing
      Information. A Participant or his or her Beneficiary will cooperate
      with the Plan Administrator by furnishing any and all information
      requested by the Plan Administrator and take such other actions as may be
      requested in order to facilitate the administration of the Plan and the
      payments of benefits hereunder, including but not limited to taking such
      physical examinations as the Plan Administrator may deem
      necessary.

              

      

       

      
        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

       

      
        	
                9.12

              	
                Validity. In
      case any provision of this Plan shall be illegal or invalid for any
      reason, said illegality or invalidity shall not affect the remaining parts
      hereof, but this Plan shall be construed and enforced as if such illegal
      and invalid provision has never been inserted herein.

              
	 
      	 
      
	
                9.13

              	
                Notice. Any
      notice or filing required or permitted to be given to the Plan
      Administrator under this Plan shall be sufficient if in writing and
      hand-delivered, or sent by registered or certified mail, to the address
      below:

              

      

    

    
      
        	 
      	 
	 	United
      Community Banks, Inc.
	 	Attention:
      Plan Administrator of Modified Retirement Plan
	 	P.O.
      Box 398
	 	Blairsville,
      Georgia 30514

      

    

     

    
      
        
          	 
      	
                  Such
      notice shall be deemed given as of the date of delivery or, if delivery is
      made by mail, as of the date shown on the postmark or the receipt for
      registration or certification.

                
	 
      	 
      
	 
      	
                  Any
      notice or filing required or permitted to be given to a Participant under
      this Plan shall be sufficient if in writing and hand-delivered, or sent by
      mail, to the last known address of the Participant.

                
	 
      	 
      
	
                  9.14

                	
                  Signed Copies.
      This Plan may be executed in any number of counterparts, each of whom
      shall be deemed to be an original, and such counterparts taken together
      shall constitute one (1) and the same instrument.

                
	 
      	 
      
	
                  9.15

                	
                  Section 409A.
      This Plan is intended to satisfy the requirements of Code Section 409A and
      any regulations or guidance that may be adopted thereunder from time to
      time, including any transition relief available under applicable guidance
      related to Code Section 409A. The Plan may be amended or interpreted by
      the Committee as it determines necessary or appropriate in accordance with
      Code Section 409A and to avoid a plan failure under Code Section
      409A(1).

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, the
Company on December 31, 2008 has caused this Plan to be duly executed by its
authorized officers to be effective as of January 1, 2005, except where
otherwise noted and subject to the transition rules of Section
409A.

    
      
        
          
            
              
                
                  
                    	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	
                            UNITED
      COMMUNITY BANKS, INC.

                          
	 
      	 
      	 	 
      	 
	 
      	 
      	 	
                            By:

                          	
                            Jimmy
      C. Tallent

                          	 
	 
      	 
      	 	 
      	
                            President
      and CEO

                          	 
	 
      	 
      	 	 
      	 
      	 
	
                            ATTEST:

                          	 	 
      	 
      	 
	 
      	 	 
      	 
      	 
	
                            By:

                          	
                            Lori
      McKay

                          	 	 
      	 
      	 
	 
      	
                            Secretary

                          	 	 
      	 
      	 

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      
        UNITED
COMMUNITY BANKS

        
          Modified
Retirement Plan

        

      

      
        
          
            

            

          

          PARTICIPATION
AGREEMENT

        

      

      Amended
and Restated As Of January 1, 2005

       

                THIS
AMENDED AND RESTATED
PARTICIPATION AGREEMENT (this “Agreement”) is entered into as of December 31,
2008 between UNITED COMMUNITY BANKS, INC. and UNITED COMMUNITY BANK (GEORGIA),
(together, the “Company”), and __________________ (the
“Participant”).

       

      RECITAL

      
        
          	 
      	 
      
	
                  A.

                	
                  The
      Participant is a member of a select group of management or highly
      compensated Employees of the Company and the Company desires to provide
      certain supplemental retirement benefits to Participant, subject to the
      terms and conditions set forth herein and in the Plan.

                
	 
      	 
      
	
                  B.

                	
                  The
      Company adopted, effective as of January 1, 2004, the UNITED
      COMMUNITY BANKS Modified Retirement Plan (the “Plan”), which Plan has been
      amended and restated to comply with the provisions of Section 409A,
      effective as of January 1, 2005, except where otherwise noted and
      subject to the transition rules of Section 409A.

                
	 
      	 
      
	
                  C.

                	
                  The
      Participant entered into a Participation Agreement dated as of
      _________________, providing for his participation in the
      Plan.

                
	 
      	 
      
	
                  D.

                	
                  In
      connection with the amendment and restatement of the Plan, the Company and
      the Participant desire to amend and restate the Participation
      Agreement.

                

        

      

       

      AGREEMENT

       

      
        
          	 	NOW
      THEREFORE, the Participation Agreement is amended and restated, as
      follows:
	 
      	 
      
	
                  1.

                	
                  Definitions.
      Unless otherwise provided in this Agreement, the capitalized terms in this
      Agreement shall have the same meaning as set forth in the
      Plan.

                
	 
      	 
      
	
                  2.

                	
                  Integrated
      Agreement; Parties Bound. The Plan, a copy of which has been made
      available to the Participant, is hereby incorporated into and made a part
      of this Agreement as though set forth in full in this Agreement. The
      parties to this Agreement agree to and shall be bound by, and have the
      benefit of, each and every provision of the Plan as set forth in the Plan.
      This Agreement and the Plan, collectively, shall be considered one
      complete contract between the parties. Except as otherwise provided in the
      Plan, this Agreement shall not be amended except by an instrument in
      writing executed by the
      parties.

                
	 
      	 
      
	
                  3.

                	
                  Acknowledgment.
      The Participant hereby acknowledges that he or she has read and
      understands this Agreement and the
      Plan.

                

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        UNITED
COMMUNITY BANKS

        
          Modified
Retirement Plan

          
            

            

          

        

      

      
        
          	 
      	 
      
	
                  4.

                	
                  Conditions
      to Participation. As a condition to participation in the Plan, the
      Participant must complete, sign, date and return to the Plan Administrator
      an original copy of this Agreement, a Beneficiary Designation, and any
      other forms required by the Plan Administrator. In addition, if
      applicable, as a condition to participation in the Plan, the Participant
      must waive his rights to any benefits under the Prior Plan and to any
      insurance policies or contract relating to the Prior
      Plan.

                
	 
      	 
      
	
                  5.

                	
                  Successors
      and Assigns. This Agreement shall inure to the benefit of, and be
      binding upon the Company, its successors and assigns, and the
      Participant.

                
	 
      	 
      
	
                  6.

                	
                  Governing
      Law. This Agreement shall be governed by and construed under ERISA
      and to the extent ERISA does not preempt state law, under the laws of the
      State of
      Georgia.

                
	 
      	 
      
	
                  7.

                	
                  Annual
      Target Benefit. The Annual Target Benefit shall be $______. The
      Annual Target Benefit may be amended/increased from time to time in
      accordance with the terms of the
      Plan.

                
	 
      	 
      
	
                  8.

                	
                  Early
      Retirement Age Criteria. The Early Retirement Age shall be Age __
      and 5 Years of
      Service.

                
	 
      	 
      
	
                  9.

                	
                  Minimum
      Early Retirement Benefit. The Minimum Retirement Benefit payable at
      the Participant’s Early Retirement Age shall be
      $_______.

                
	 	 
	 	IN
      WITNESS WHEREOF, the Participant has signed and the Company has accepted
      this amended and restated Participation Agreement, as of the date first
      written above.

        

      

       

       

      
        
          
            	 
      	 
      	 
      	 
      	 
      
	
                    AGREED
      TO AND ACCEPTED BY COMPANY

                  	 
      	
                    PARTICIPANT

                  	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                    Signature
      of Authorized Representative

                  	 
      	
                    Signature
      of Participant

                  	 
      

          

        

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
         

        
          UNITED
COMMUNITY BANKS

          
            Modified
Retirement Plan

          

        

      

      
        

        

      

      PAYMENT
ELECTION FORM

       

      Complete
Only If You Are Choosing An Alternative Payment
Method

       

      The
normal form of payment under the Plan for an unmarried Participant is a life
annuity and for a married Participant is a life with 100% survivor annuity to
the Eligible Spouse. However, in accordance with such rules as the Plan
Administrator may establish under the Plan, you may elect an Alternative Payment
Method as provided below.

       

      I hereby
elect an Alternative Payment Method in accordance with the United Community
Banks Modified Retirement Plan as follows:

       

      
        
          
            
              
                
                  
                    	
                             
      Initial Box (only one)

                          	 
      	
                            Payment
      of Benefit

                          
	 
      	 
      	
                            Life
      annuity payable for the Participant’s life only, with no survivor
      benefits

                          
	 	 
      	
                            Life
      with 50% survivor annuity, where payments continue until the Participant’s
      death then, if the designated Eligible Spouse survives the Participant,
      fifty percent (50%) of the payment is paid to such designated Eligible
      Spouse until death

                          
	 
      	 
      	
                            15-year
      period certain (180 monthly payments) with no payments thereafter,
      provided that if the Participant dies prior to receiving 180 monthly
      payments, the designated Beneficiary will receive the remainder of such
      payments

                          

                  

                

              

            

          

        

      

       

      
        
          
            
              
                
                  	 	 	 
	Printed
      Name:	 
      	
                           
      

                        

                

                 

                
                  	 	 	 
	
                          Signature:

                        	 
      	 
      
	 
      	 	 
      

                

              

            

          

        

         

        
          
            
              
                
                  	
                          Date:

                        	 
      	 
      
	 
      	 	 
      

                

              

            

          

        

         

        Received
by the Plan Administrator this ____ day of ____________, 200___.

         

        
          
            
              
                	
                        By:

                      	 
      	 
      
	 
      	 	 
      

              

            

          

        

         

        
          
            
              
                
                  
                    	
                            Title:
      

                          	 
      	 
      

                  

                

              

            

          

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        
          UNITED
COMMUNITY BANKS

          
            Modified
Retirement Plan

          

        

        
          

        

      

       

      BENEFICIARY
DESIGNATION FORM

       

      I
designate my Eligible Spouse or other individual* as beneficiary of benefits
under this Plan payable following my death:

       

      Eligible
Spouse:
_____________________________________________________________________________________________

       

      Other
Individual*:
___________________________________________________________________________________________

       

      *The
Participant may designate a non-spouse as Beneficiary, but that person will only
receive benefits if the Participant is unmarried or if the Participant is
married and the Participant elected the 15 year period Alternative Payment
Method per Article 3.11(iv), and the Participant died prior to the expiration of
the 15 year period.

       

      I
understand that I may change this Beneficiary Designation form by filing a new
written designation with the Plan Administrator in accordance with such
procedures as may be established by the Plan Administrator. I further understand
that the designation will be automatically revoked if the Beneficiary
predeceases me, or if my marital status changes.

      
        
          
            	 
      	 
      	 
      
	
                    Signature

                  	 
      	 
      
	 
      	
                    [Name
      of Participant]

                  	 
      

          

        

      

       

      
        
          
            
              
                	
                        Date

                      	 
      	 
      
	 
      	 	 
      

              

            

          

        

      

       

      Acknowledged
by the Plan Administrator this ___ day of ________________, 20__

       

      
        
          
            
              	
                      By

                    	 
      	 
      
	 
      	 	 
      

            

          

        

      

       

      
        
          
            
              
                
                  	
                          Titleex10-11.htm

    
      

    

    EXHIBIT
10.11

     

    UNITED
COMMUNITY BANKS

    DEFERRED
COMPENSATION PLAN

     

    (As
Amended And Restated Effective As Of January 1, 2005,

    Except
Where Otherwise Noted)

     

              Pursuant
to the authorization of its Board of Directors, UNITED COMMUNITY BANKS, INC.
(“the Company”), a Georgia Corporation, does hereby amend and restate the United
Community Banks Deferred Compensation Plan (the “Plan”), effective as of January
1, 2005, except where a different effective date(s) is indicated for a provision
(each such date is referred to as the “Effective Date”), and subject to the
transition rules of Section 409A.

     

              The
Plan was initially established effective as of October 21, 2004. Because of
changes to the tax laws resulting from the enactment of Section 409A and
adoption of related regulations, the Company desires to amend and restate the
Plan as of the Effective Date. The purpose of the Plan is to provide specified
benefits to a select group of management or highly compensated employees and
members of the Board of Directors of the Company or a participating Affiliate
who contribute materially to the continued growth, development and future
business success of the Company and its Affiliates that participate in this
Plan. This Plan shall be unfunded for tax purposes and for purposes of Title I
of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”).

     

    ARTICLE
I

    DEFINITIONS

    
      
        	 
      	 
      
	
                1.1

              	
                “401(k) Restoration
      Deferral” shall mean a deferral of Base Salary and/or Bonus
      Payments that cannot be deferred under the United 401(k) Plan and, thus,
      are ineligible for the matching contribution under the United 401(k)
      Plan.

              
	 
      	 
      
	
                1.2

              	
                “Account” or
      “Accounts” means
      the records maintained by the Committee to determine each Participant’s
      interest under this Plan. The accounts may be reflected as entries in the
      Company’s (or Employer’s) records, or as separate accounts under a trust,
      or as a combination of both. The Committee may establish such sub-accounts
      as it deems necessary for the proper administration of the
      Plan.

              
	 
      	 
      
	
                1.3

              	
                “Affiliate”
      means any person, corporation or other entity that controls or is
      controlled by, directly or indirectly, the Company, as determined by the
      Committee in its sole discretion.

              
	 
      	 
      
	
                1.4

              	
                “Base Salary”
      for any Plan Year means the base salary of an Eligible Employee for such
      Plan Year, including any amounts of base salary deferred or set aside
      under Code Sections 401(k) and 125, amounts deferred under this Plan or
      other authorized deferrals and payroll deductions.

              
	 
      	 
      
	
                1.5

              	
                “Beneficial
      Ownership” shall mean beneficial ownership as that term is used in
      Rule 13d-3 promulgated under the Exchange
Act.

              

      

    

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
      
        
          	
                  1.6

                	
                  “Beneficiary”
      means any person(s), trusts, partnerships or other legal entity(ies)
      designated by the Participant or otherwise determined in accordance with
      Section 10.7.

                
	 
      	 
      
	
                  1.7

                	
                  “Board of
      Directors” means the Board of Directors of the
    Company.

                
	 
      	 
      
	
                  1.8

                	
                  “Bonus
      Payment(s)” means any bonus amounts awarded to an Eligible Employee
      under any incentive plan maintained by the Employer, including annual
      bonus payments, long-term incentive plan payments and special incentive or
      bonus payments that may be awarded from time to time.

                
	 
      	 
      
	
                  1.9

                	
                  “Cause” shall
      mean (i) willful misconduct on the part of a Participant that is
      materially detrimental to the Company or any Employer; or (ii) the
      commission by a Participant of a felony. The existence of “Cause” under
      either (i) or (ii) shall be determined by the Committee. Notwithstanding
      the foregoing, if the Participant has entered into an employment agreement
      that is binding as of the date of employment termination, and if such
      employment agreement defines “Cause,” and/or provides a means of
      determining whether “Cause” exists, such definition of “Cause” and means
      of determining its existence shall supersede this
    provision.

                
	 
      	 
      
	
                  1.10

                	
                  “Change in
      Control” means any of the following
  events:

                

        

      

    

     

         
      (a)    The acquisition
(other than from the Company) by any Person of Beneficial Ownership of twenty
percent (20%) or more of the combined voting power of the Company’s then
outstanding voting securities; provided, however, that for purposes of this
Section 1.10, Person shall not include any person who as of January 1, 2005 owns
ten percent (10%) or more of the Company’s outstanding securities, and a Change
in Control shall not be deemed to occur solely because twenty percent (20%) or
more of the combined voting power of the Company’s then outstanding securities
is acquired by (i) a trustee or other fiduciary holding securities under one (1)
or more employee benefit plans maintained by the Company or any of its
Subsidiaries, or (ii) any corporation, which, immediately prior to such
acquisition, is owned directly or indirectly by the shareholders of the Company
in the same proportion as their ownership of stock in the Company immediately
prior to such acquisition.

     

                (b)     Consummation
by the Company of (1) a merger or consolidation involving the Company if the
shareholders of the Company, immediately before such merger or consolidation do
not, as a result of such merger or consolidation, own, directly or indirectly,
more than fifty percent (50%) of the combined voting power of the then
outstanding voting securities of the corporation resulting from such merger or
consolidation in substantially the same proportion as their ownership of the
combined voting power of the voting securities of the Company outstanding
immediately before such merger or consolidation, or (2) a complete liquidation
or dissolution of the Company or the sale or other disposition of all or
substantially all of the assets of the Company.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

     
          (c)     A change in the
composition of the Board such that the individuals who, as of January 1, 2005,
constitute the Board (such Board shall be hereinafter referred to as the
“Incumbent Board”) cease for any reason to constitute at least a majority of the
Board; provided, 2 however, for purposes of this Section 1.10 that any
individual who becomes a member of the Board subsequent to January 1, 2005 whose
election, or nomination for election by the Company’s shareholders, was approved
by a vote of at least a majority of those individuals who are members of the
Board and who were also members of the Incumbent Board (or deemed to be such
pursuant to this proviso) shall be considered as though such individual were a
member of the Incumbent Board; but, provided, further, that any such individual
whose initial assumption of office occurs as a result of either an actual or
threatened election contest (as such terms are used in Rule 14a-11 of Regulation
14A promulgated under the Exchange Act, including any successor to such Rule),
or other actual or threatened solicitation of proxies or consents by or on
behalf of a Person other than the Board, shall not be so considered as a member
of the Incumbent Board.

     

    Notwithstanding
anything else to the contrary set forth in this Plan, if (i) an agreement is
executed by the Company providing for any of the transactions or events
constituting a Change in Control as defined herein, and the agreement
subsequently expires or is terminated without the transaction or event being
consummated, and (ii) Participant’s employment did not terminate during the
period after the agreement and prior to such expiration or termination, for
purposes of this Plan it shall be as though such agreement was never executed
and no Change in Control event shall be deemed to have occurred as a result of
the execution of such agreement.

     

    
      
        
          
            	
                    1.11

                  	
                    “Code” means the
      Internal Revenue Code of 1986, as it may be amended from time to
      time.

                  
	 
      	 
      
	
                    1.12

                  	
                    “Committee”
      means the Administrative Committee that administers the Plan in accordance
      with Article VIII.

                  
	 
      	 
      
	
                    1.13

                  	
                    “Company” means
      United Community Banks, Inc., a Georgia corporation, or any successor
      thereto.

                  
	 
      	 
      
	
                    1.14

                  	
                    “Company
      Securities” means the common stock, par value $1.00 per share, of
      the Company (“Common Stock”) any other securities of the Company into
      which a Participant’s Account may be deemed to be
  invested.

                  
	 
      	 
      
	
                    1.15

                  	
                    “Deferral
      Account” means any account maintained under the Plan for a
      Participant pursuant to Section 4.2.

                  
	 
      	 
      
	
                    1.16

                  	
                    “Director” means
      a member of the Board of Directors of the Company or the Board of
      Directors of any Affiliate or an Advisory Director of the Company or any
      Affiliate, other than any affiliate designated by the Board of Directors
      of the Company as not eligible to participate in the Plan, provided that
      Affiliate or Advisory Directors shall be eligible to participate as of May
      13, 2005.

                  
	 
      	 
      
	
                    1.17

                  	
                    “Director’s
      Fees” means any retainer, advisory (effective May 13, 2005) and
      meeting fees payable to the Director by the Company for the Plan Year,
      before reductions for contributions to or deferrals under this or any
      other deferred compensation or benefit plans sponsored by the
      Company.

                  

          

        

      

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                    1.18

                  	
                    “Disability”
      means the Participant has been determined to be “Disabled” as defined
      under Section 409A (a)(2)(C) of the Code.

                  
	 
      	 
      
	
                    1.19

                  	
                    “Effective Date”
      means January 1, 2005, except where otherwise noted and subject to the
      transition rules of Section 409A.

                  
	 
      	 
      
	
                    1.20

                  	
                    “Eligible
      Employee” means for each Plan Year an officer or other key
      management employee of the Employer designated by the Committee as
      eligible to participate in the Plan for such Plan Year or portion
      thereof.

                  
	 
      	 
      
	
                    1.21

                  	
                    “Employer” means
      the Company and any Affiliate other than any Affiliate that shall be
      designated by the Board of Directors or the Committee as not eligible to
      participate under the Plan.

                  
	 
      	 
      
	
                    1.22

                  	
                    “Employer Contribution
      Account” means any account maintained for a Participant pursuant to
      Section 4.3.

                  
	 
      	 
      
	
                    1.23

                  	
                    “ERISA” means
      the Employee Retirement Income Security Act of 1974, as it may be amended
      from time to time.

                  
	 
      	 
      
	
                    1.24

                  	
                    “Exchange Act”
      shall mean the Securities Exchange Act of 1934, including amendments, or
      successor statutes of similar intent.

                  
	 
      	 
      
	
                    1.25

                  	
                    “Fiscal Year”
      means each twelve month period beginning January 1 and ending the next
      following December 31.

                  
	 
      	 
      
	
                    1.26

                  	
                    “Investment
      Option” means a deemed investment fund or asset allocation account
      that is available in accordance with Section 6.1 as the basis to calculate
      earnings, gains and losses on the amount credited to a Participant’s
      Account. Effective May 13, 2005, the Committee may establish an Investment
      Option under which the Participant may direct that amounts credited to the
      Participant’s Account are deemed to be invested in Company Stock, and
      effective September 1, 2008, the Committee may establish an Investment
      Option under which the Participant may direct the amounts credited to
      Participant’s Account are deemed to be invested in other Company
      Securities, provided, that the Committee may limit the group or class of
      Participants that may elect to have their Accounts deemed to be invested
      in Company Stock or other Company Securities, and may require that any
      amounts that are deemed to be invested in Company Stock or other Company
      Securities must remain invested in Company Stock or other Company
      Securities.

                  
	 
      	 
      
	
                    1.27

                  	
                    “Key Employee”
      shall mean a key employee as defined in Section 416(i) of the Code
      (without regard to Section 416(i)(5)).

                  
	 
      	 
      
	
                    1.28

                  	
                    “Participant”
      means an Eligible Employee who participates in the Plan in accordance with
      Article 2 and a Director who participates in the Plan in accordance with
      Article 3.

                  

          

        

      

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                    1.29

                  	
                    “Person” shall mean any
      individual, entity or group within the meaning of Section 13(d)(3) or 14
      (d)(2) of the Exchange Act.

                  
	 
      	 
      
	
                    1.30

                  	
                    “Plan” means the
      United Community Banks Deferred Compensation Plan as set forth in this
      document and as amended from time to time.

                  
	 
      	 
      
	
                    1.31

                  	
                    “Plan Year”
      means the calendar year.

                  
	 
      	 
      
	
                    1.32

                  	
                    “Retirement”
      means a Participant’s voluntary or involuntary Termination of Employment
      after attaining age 55 and completing five (5) or more Years of Service or
      a Participant’s Termination of Service.

                  
	 
      	 
      
	
                    1.33

                  	
                    “Section 409A”
      means Section 409A of the Code, as it may be amended from time to time,
      and the regulations and rulings thereunder.

                  
	 
      	 
      
	
                    1.34

                  	
                    “Termination of
      Employment” means a Participant’s separation from service with the
      Employer and the Affiliates for any reason. Transfer of employment among
      the entities constituting the Employer and the Affiliates shall not be
      deemed to be a Termination of Employment (even if the Affiliate is not a
      participating Employer in the Plan).

                  
	 
      	 
      
	
                    1.35

                  	
                    “Termination of
      Service” shall mean the date a Director ceases to serve as a member
      of the Board of Directors of the Company or any Affiliate, or as an
      Advisory Director, for any reason including resignation, removal, or the
      failure to be re-elected by the Company’s shareholders.

                  
	 
      	 
      
	
                    1.36

                  	
                    “Trust” means
      any trust established by the Company that includes the Plan as a plan with
      respect to which assets are to be held by the Trustee, provided that such
      trust shall not affect the status of the Plan as an unfunded plan for
      purposes of Title I of ERISA.

                  
	 
      	 
      
	
                    1.37

                  	
                    “Trustee” means
      the trustee or trustees or their successors under the
    Trust.

                  
	 
      	 
      
	
                    1.38

                  	
                    “United 401(k)
      Plan” means the United Community Banks, Inc. Profit Sharing Plan,
      or any successor plan maintained by an Employer that is qualified under
      Section 401(a) of the Code and includes a Code Section 401(k) feature that
      allows employees the ability to defer a portion of their compensation. Any
      reference herein to a provision or term of the United 401(k) Plan shall
      mean such provision or term as it may be amended from time to
      time.

                  
	 
      	 
      
	
                    1.39

                  	
                    “Valuation Date”
      means the Annual Valuation Date, December 31, and any other dates selected
      by the Committee as of which the Participant’s Accounts are
      valued.

                  

          

        

      

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      
        	
                1.40

              	
                “Years of
      Service” means a Participant’s years of service determined in the
      same manner as under the United 401(k)
Plan.

              

      

    

     

    ARTICLE
II

    EMPLOYEE
PARTICIPATION, DEFERRALS AND EMPLOYER CREDITS

    
      
        	 
      	 
      
	
                2.1

              	
                Eligibility

              
	 
      	 
      
	 
      	
                Participation
      in the Plan shall be limited to Directors and to a select group of
      management and highly compensated employees of an Employer, as determined
      by the Committee, in its sole discretion. From that group of employees,
      the Committee shall determine the individual Eligible Employees who are
      eligible to participate in the Plan for any Plan Year. The Committee may
      make such determination by establishing a minimum compensation level or
      job title for participation or by the use of such other criteria as the
      Committee deems appropriate for time to time.

              
	 
      	 
      
	
                2.2

              	
                Election to
      Participate

              
	 
      	 
      
	 
      	
                Each
      Eligible Employee may elect to participate for the Plan Year, or part of a
      Plan Year for which he is eligible, by delivering to the Committee a
      written or electronic notice, at such time and in such form as approved by
      the Committee, electing to participate and specifying the dollar amount or
      percentage of Base Salary he elects to defer for such Plan Year (or part
      of a Plan Year), as a 401(k) Restoration Deferral or otherwise. An
      election to defer Base Salary for a Plan Year shall be made prior to the
      commencement of the Plan Year (or within thirty (30) days after the date
      the Plan is adopted or the Participant’s initial eligibility to
      participate in the Plan).

              
	 
      	 
      
	 
      	
                Each
      Eligible Employee may also elect to participate by delivering to the
      Committee a written or electronic notice, at such time and in such form as
      approved by the Committee, specifying the dollar amount or percentage of
      any Bonus Payment he elects to defer for the Plan Year, as a 401(k)
      Restoration Deferral or otherwise. An election to defer a Bonus Payment
      for a Plan Year shall be made prior to the commencement of such Plan Year
      (or within thirty (30) days after the date the Plan is adopted or the
      Participant’s initial eligibility to participate in the Plan) or, with
      respect to performance-based compensation based on services performed over
      a period of at least 12 months, no later than 6 months before the end of
      the period in a manner consistent with the requirements of Section 409A.
      The Committee may provide for different elections with respect to
      different types of Bonus Payments.

              
	 
      	 
      
	 
      	
                A
      Participant shall be required to submit a new election form on a timely
      basis to change the Participant’s election for a subsequent Plan Year. If
      no new election form is filed during the prescribed enrollment period, the
      Participant’s elections for the prior Plan Year shall continue in force
      for the next Plan Year.

              

      

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    
      
        
          
            	 
      	
                    Effective
      May 13, 2005, the Committee may provide that an Eligible Employee may
      elect to defer any special payments (“Special Payments”), such as a
      sign-on bonus, change in control payment or similar payments, the Eligible
      Employee may become entitled to receive; provided that such election shall
      be made prior to the time the Eligible Employee becomes entitled to
      receive such payment and in a manner consistent with the requirements of
      Section 409A. In such event, the Committee shall provide a separate
      deferral election and distribution election with respect to any deferrals
      of Special Payments. Deferrals of Special Payments shall be credited to a
      subaccount within the Eligible Employee’s Deferral Account. Deferrals of
      Special Payments shall not be eligible for any 401(k) Matching
      Contributions.

                  
	 
      	 
      	 
      	 
      
	
                    2.3

                  	
                    Amount of
      Deferral

                  
	 
      	 
      	 
      	 
      
	
                                
      (a)           401(k) Restoration
      Deferral. Each Eligible Employee may make a 401(k) Restoration
      Deferral by electing to defer from 1 to 5% (or such lesser or greater
      percentage or amount as would be subject to a matching contribution under
      the United 401(k) Plan but for certain limitations applicable to the
      Participant under the United 401(k) Plan and assuming Bonus Payments were
      eligible for deferral and match under the United 401(k) Plan) of the
      Eligible Employee’s Base Salary and/or Bonus Payments; provided, that any
      election to defer Base Salary shall only apply to the extent such amount
      is not and cannot be deferred to the United 401(k) Plan. The Committee may
      set a minimum amount of deferrals for a Plan Year and/or for any payroll
      period.

                  
	 
      	 
      	 
      	 
      
	
                             
        
      (b)           Additional
      Deferrals. In addition to and/or in lieu of the 401(k) Restoration
      Deferrals, each Eligible Employee may elect to defer an amount not to
      exceed: (a) 75% of Base Salary for a Plan Year (or part of a Plan Year),
      and (b) 100% of Bonus Payments. An Eligible Employee shall not be
      permitted to reduce his compensation below the amount necessary to make
      required or elected contributions to employee benefit plans, required
      federal, state and local tax withholdings, and any other withholdings
      deemed necessary by the Committee or required by law. The Committee may
      also set a minimum amount of deferrals for a Plan Year and/or for any
      payroll period.

                  
	 
      	 
      	 
      	 
      
	
                    2.4

                  	
                    Employer
      Contribution

                  
	 
      	 
      	 
      	 
      
	
                           
          
      (a)           401(k) Matching
      Contribution. The Employer Contribution Account of each Participant
      who has elected to make a 401(k) Restoration Deferral of Base Salary
      and/or Bonus Payments shall, within 10 business days of the date such Base
      Salary and/or Bonus Payment would otherwise be paid, be credited with an
      amount determined by subtracting the amount described in (2) below from
      the amount described in (1) below:

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (1)

                  	
                    The
      amount that the Employer would have contributed as a matching contribution
      for the Participant under the United 401(k) Plan for the pay period
      pursuant to the provisions of the United 401(k) Plan if the amount of Base
      Salary and Bonus Payments that the Participant elected to defer under this
      Plan was instead deferred under the United 401(k) Plan, subject to any
      limitation in the United 401(k) Plan that matching contributions 7 shall
      only be made with respect to the first stated percentage of a
      Participant’s compensation, but without regard to the other limitations of
      the United 401(k) Plan and of the Code or ERISA, and including all Base
      Salary and Bonus Payments as compensation eligible for a matching
      contribution.

                  

          

        

      

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    
      
        
          
            	 
      	 
      	
                    (2)

                  	
                    The
      amount actually contributed by the Employer as a matching contribution for
      the Participant under the United 401(k) Plan for such pay
      period.

                  
	 
      	 
      	 
      	 
      
	
                             
        
      (b)           Discretionary
      Contribution. During a Plan Year, the Committee may, in its sole
      discretion, credit to an Eligible Employee’s Employer Contribution Account
      an amount determined in the discretion of the Committee that may be a
      percentage of the Eligible Employee’s Base Salary, a dollar amount, or
      some other amount. The Employer Contribution for a Plan Year may differ
      among Eligible Employees and may be made for some Eligible Employees but
      not others. The Employer Contribution shall be credited to the Employer
      Contribution Account for the Eligible Employee.

                  
	 
      	 
      	 
      	 
      
	
                    2.5

                  	
                    Withholding

                  
	 
      	 
      	 
      	 
      
	
                              The
      amount of Base Salary or Bonus Payments that an Eligible Employee elects
      to defer under Section 2.2 shall be withheld from his Base Salary or Bonus
      Payments in accordance with such rules and procedures as the Committee
      shall establish.

                  
	 
      	 
      	 
      	 
      
	
                    2.6

                  	
                    Deferral of Restricted
      Stock Units (RSUs)

                  
	 
      	 
      	 
      	 
      
	
                             
         (a)         
       Eligibility.
      Effective April 26, 2006, the Committee may determine which Eligible
      Employees are eligible to elect to defer receipt of Company Stock
      resulting from awards of RSUs under the Stock Option Plan. The Committee
      may make such determination by establishing a minimum compensation level
      or job title for participation or by the use of such other criteria as the
      Committee deems appropriate from time to time.

                  
	 
      	 
      	 
      	 
      
	
                            
         
      (b)           Deferral
      Election. An Eligible Employee may make an election to defer the
      receipt of Company Stock resulting from awards of RSUs by completing an
      election form at such time or times as may be established by the
      Committee; provided that, unless otherwise permitted by applicable law,
      the election shall be made (i) within thirty (30) days of the date of
      grant of such RSUs (provided that any RSUs do not vest within 12 months of
      the date of such election), or (ii) at least 12 months prior to the
      Vesting Date for the RSUs being deferred. On the Vesting Date for the
      RSUs, the Participant’s RSU Account will be credited with a number of
      share units equal to the number of shares subject to the RSUs with respect
      to which the deferral election was made. The deferral election under this
      Section 2.6(b) shall be made on such form and in such manner as may be
      provided by the Committee. The deferrals credited to the Participant’s RSU
      Account pursuant to this Section 2.6(b) shall also be credited with any
      dividend equivalents on the shares of Company Stock credited to the RSU
      Account, provided that such dividend equivalents shall not be deemed to be
      invested in shares of Company Stock unless otherwise determined by the
      Committee.

                  

          

        

      

    

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                            
          (c)           
      Payment of RSU
      Account. At the time the Eligible Employee elects to make the
      deferrals under Section 2.6(b), the Eligible Employee shall also elect, on
      such form as approved by the Committee, the time and manner of payment of
      such RSU Account upon his Retirement or Disability, any scheduled payments
      during employment, payments upon death and such other matters as
      determined by the Committee. The payment elections under this Section
      2.6(c) shall be made in accordance with the provisions of Article VII. The
      Eligible Employee’s rights to change his payment election shall be
      determined in accordance with Article VII. The form of payment of the RSU
      Account pursuant to Section 2.6(c) shall be shares of Company Stock
      (except, as determined by the Committee, with respect to any dividend
      equivalents credited to the account).

                  
	 
      	 
      	 
      	 
      
	
                            
          
      (d)           Definitions.
      The following definitions shall apply for purposes of this Section 2.6 and
      the Plan:

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (1)

                  	
                    “Restricted
      Stock Units Or RSUs” means an award under the Stock Option Plan of the
      right to receive shares of Company Stock on a Vesting
  Date.

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (2)

                  	
                    “RSU
      Account” means the account to which the Eligible Employee’s deferrals of
      shares of Company Stock subject to RSUs are credited pursuant to Section
      2.6(b).

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (3)

                  	
                    “Stock
      Option Plan” means the United Community Banks, Inc. 2000 Key Employee
      Stock Option Plan, as it may be amended from time to
  time.

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (4)

                  	
                    “Vesting
      Date” means the date or dates on which the RSUs vest and on which the
      Eligible Employee will have the right to receive shares of Company
      Stock.

                  

          

        

      

    

     

    ARTICLE
III

    DIRECTOR
PARTICIPATION AND DEFERRALS

    
      
        	 
      	 
      
	
                3.1

              	
                Director’s Election to
      Participate

              
	 
      	 
      
	 
      	
                Each
      Director may elect to participate for the Plan Year, or part of a Plan
      Year for which he is eligible, by delivering to the Committee a written
      notice, at such time and in such form as approved by the Committee,
      electing to participate and specifying the dollar amount or percentage of
      his Director’s Fees he elects to defer for such Plan Year (or part of a
      Plan Year), which may include separate elections with respect to meeting
      fees, advisory fees, and retainer fees. An election to defer Director’s
      Fees for a Plan Year shall be made prior to the commencement of the Plan
      Year (or within thirty (30) days after the date the Plan is adopted or the
      Participant’s initial eligibility to participate in the Plan), unless the
      Committee in its discretion permits an extension of the election period.
      Increases or decreases in the amount of Director’s Fees a Director elects
      to defer shall not 9 be permitted during the Plan Year. The Director shall
      be required to submit a new election form to change the Director’s
      election for a subsequent Plan Year. If no new election form is filed
      during the prescribed enrollment period, the Director’s election for the
      prior Plan Year shall continue in force for the next Plan
      Year.

              

      

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  3.2

                	
                  Amount of
      Deferral

                
	 
      	 
      
	 
      	
                  Each
      Director may elect to defer an amount up to 100% of his Director’s Fees
      for a Plan Year; provided, a Director shall not be permitted to reduce his
      Director’s Fees below the amount necessary to make required or elected
      contributions to employee benefit plans, required federal, state and local
      tax withholdings, and any other withholdings deemed necessary by the
      Committee or required by
law.

                

        

      

    

     

    ARTICLE
IV

    DEFERRED
COMPENSATION ACCOUNTS

    
      
        	 
      	 
      
	
                4.1

              	
                Accounts

              
	 
      	 
      
	 
      	
                The
      Committee shall establish a Deferral Account and, if applicable, an
      Employer Contribution Account for each Eligible Employee for all periods
      during which such Eligible Employee is a Participant in the Plan. The
      Committees shall also establish a Deferral Account for each Director for
      all periods during which such Director is a Participant in the
      Plan.

              
	 
      	 
      
	
                4.2

              	
                Deferral
      Account

              
	 
      	 
      
	 
      	
                Each
      Participant’s Deferral Account shall be credited with an amount equal to
      all of the Participant’s Base Salary, Bonus Payments or Director’s Fees
      elected by the Participant to be deferred on or about the dates such
      amounts would, but for the election to defer, have been payable to the
      Participant (or as otherwise determined by the Committee), and shall be
      credited with earnings, gains or losses in accordance with Section
      6.1.

              
	 
      	 
      
	
                4.3

              	
                Employer Contribution
      Account

              
	 
      	 
      
	 
      	
                Each
      Participant’s Employer Contribution Account shall be credited each Plan
      Year with an amount equal to the Employer Contribution for the Plan Year
      (including make-up 401(k) matching contributions and/or any discretionary
      contributions) and shall be credited with earnings, gains or losses in
      accordance with Section 6.1.

              

      

    

     

    ARTICLE
V

    VESTING
OF DEFERRAL ACCOUNT

     

    
      
        
          	 
      	
                  A
      Participant shall be immediately 100% vested in all amounts credited to
      his Deferral Account.

                

        

         

        
          
            
               

            

            
              10

              
                

              

            

            
               

            

          

        

         

        
          	
                  5.1

                	
                  Employer Contribution
      Account.

                
	 
      	 
      
	 
      	
                  A
      Participant shall become vested in his Employer Contribution Account in
      accordance with the following vesting schedule or such other vesting
      schedule as may be determined by the Committee to apply to an Employer
      Contribution at the time such Employer Contribution is made to the
      Plan.

                

        

      

    

    

    
      
        
          
            	
                     

                  	
                    
                      Years
      of Service

                    

                  	%
      of Account Vested
	
                     

                  	
                    Less
      Than 1

                  	0%
	
                  	
                    1
      but less than 2

                  	33%
	
                  	
                    2
      but less than 3

                  	66%
	
                     

                  	
                    3
      or more

                  	100%

          

        

         

        
          
            	 
      	
                    If
      the Participant terminates employment prior to becoming fully vested in
      his Employer Contribution Account, any unvested amount shall be
      immediately
forfeited.

                  

          

        

      

    

     

    ARTICLE
VI

    EARNINGS;
TRUST ARRANGEMENTS

    
      
        	 
      	 
      
	
                6.1

              	
                Crediting of Earnings,
      Gains and Losses.

              
	 
      	 
      
	 
      	
                The
      Investment Options shall consist of such investment options as the
      Committee may, in its discretion, designate from time to time. Each
      Participant may select from time to time, in accordance with such rules as
      the Committee may establish, the Investment Options in which his Accounts
      will be deemed to be invested; provided, that the Committee may in its
      discretion make certain Investment Options available to only a limited
      group of Participants. Based on such selection, the Committee will credit
      an amount to Participants’ Accounts to reflect the amounts by which the
      Participants’ Accounts would have increased or decreased if they had been
      invested in the Investment Options selected by the Participant. The
      selection of Investment Options is to be used only for the purpose of
      valuing each Participant’s Accounts. The Company and the Committee are
      under no obligation to acquire or provide any of the Investment Options
      designated by a Participant, and any investments actually made by the
      Committee will be made solely in the name of the Company and will remain
      the property of the Company, subject to the terms of any Trust. If a
      Participant fails to direct the deemed investment of 100% of his Accounts,
      any undirected amount shall be deemed to be invested in such fixed income
      Investment Option as shall be designated by the
  Committee.

              
	 
      	 
      
	 
      	
                The
      Employer shall pay all taxes required to be paid in connection with the
      deemed investment experience of Participants’ Accounts prior to the
      distribution of a Participant’s Account. The Committee shall periodically
      provide the Participant with a statement of his Accounts, in such
      reasonable detail as the Committee shall deem appropriate, showing the
      income, gains and losses (realized and unrealized), amounts of deferrals,
      and distributions from his Accounts since the prior
    statement.

              

      

    

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    
      
        
          	 
      	
                  The
      Investment Options are used solely for the purpose of determining the
      deemed earnings, gains and losses to be credited to a Participant’s
      Accounts and no actual investment in the Investment Options shall be
      required. The Participant has no rights to any particular asset of the
      Employer or the Employer.

                
	 
      	 
      
	
                  6.2

                	
                  Trust

                
	 
      	 
      
	 
      	
                  The
      Company may establish a trust fund with regard to the Accounts hereunder,
      which is designed to be a grantor trust under Code Section 671. It is the
      intention of the Company that any trust established for this purpose shall
      constitute an unfunded arrangement and shall not affect the status of the
      Plan as an unfunded plan maintained for the purpose of providing deferred
      compensation for a select group of highly compensated management employees
      for purposes of Title I of ERISA. The Employer may make payment of
      benefits directly to Participants or their Beneficiaries as they become
      due under the terms of the Plan. In addition, if the principal of any
      trust established for this purpose, and any earnings thereon, is not
      sufficient to make payments of benefits in accordance with the terms of
      the Plan, the Employer shall make the balance of each such payment as it
      falls due.

                
	 
      	 
      
	 
      	
                  With
      respect to any benefits payable under the Plan, the Participants (and
      their Beneficiaries) shall have the same status as general unsecured
      creditors of the Company, and the Plan shall constitute a mere unsecured
      promise by the Company to make benefit payments in the
    future.

                

        

      

    

     

    ARTICLE
VII

    PAYMENT
OF ACCOUNTS

    
      
        	 
      	 
      	 
      
	
                7.1

              	
                Time and Method of
      Payment

              
	 
      	 
      	 
      
	
                       
           
      (a)          Retirement or
      Disability. At the time an Eligible Employee or Director elects to
      participate in the Plan and to defer Base Salary, Bonus Payments or
      Director’s Fees, he shall also elect, in such form as approved by the
      Committee, the method for the payment of such deferrals (and any related
      matching or employer contributions) upon his Retirement or Disability. The
      Participant may make a separate payment election each Plan Year with
      respect to deferrals (and any related matching or employer contributions)
      made for such Plan Year and the Committee may provide for separate payment
      elections for Base Salary, Bonus Payments and/or Director fees’ deferrals.
      If the Participant does not make an election for any Plan Year, the most
      recent previous election of the Participant shall apply, and if no valid
      election has been made by the Participant, he shall be deemed to have
      elected a lump sum. Upon Retirement or Disability, a Participant’s vested
      Account balance (or applicable portions of the Account) may be payable in
      one or more of the following methods, as elected with respect to the
      deferrals (and any related matching or employer contributions) for each
      Plan Year:

              

      

    

     

    
      
        
          	 
      	 
      	 
      	
                  (i)

                	
                  A
      lump sum payment; or

                

        

      

    

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	 
      	 
      	 
      	
                      (ii)

                    	
                      Annual
      installment payments over a period of 5, 10, or 15 years, with each
      installment equal to the unpaid balance of the Account (or the portion of
      the Account to which the election applies) as of the preceding December
      31st
      divided by the number of remaining
payments.

                    

            

          

        

      

    

     

    Except
with respect to Key Employees as provided in Section 7.1(g), lump sum payments
and the first annual installment payment shall be made on or before the January
31st of the calendar year following the calendar year in which the Participant’s
Retirement or Disability occurs. Second and subsequent installment payments
shall be payable each year on or before January 31st of such year.

     

    The
Committee (or its designee) may establish from time to time, consistent with the
requirements of Section 409A, limitations on the Participant’s ability to select
the time and method of payment of his Account based upon the amount in the
Participant’s Account. For example, unless and until changed by the Committee
(or its designee), if the Participant’s aggregate Account has a total vested
balance of less than $50,000 at the time of Retirement or Disability, the
Account shall be paid in a lump sum regardless of an election by the Participant
to be paid in installments. For purposes of this Article VII, the Committee may,
if required by liquidity limitations resulting from a financial investment used
to support an Investment Option (but only to such extent), establish limits on
the timing and manner of payouts otherwise provided for under this Article VII
for amounts attributable to such Investment Option.

     

                 
(b)          Scheduled Withdrawals During
Employment. In addition to the election with respect to the time and
method of payment upon Retirement as specified in Section 7.1(a), a Participant
may elect, at the time he makes his deferral election each year, in such manner
as approved by the Committee, to receive payment of such deferrals in, or
commencing in, January of a specified year(which year must be at least 2 years
after the end of the Plan Year during which the deferral is made) during his
term of employment or during his service as a Director, pursuant to one of the
following payment methods:

    
      
        
          	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (1)

                	
                  A
      lump sum payment; or

                
	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (2)

                	
                  Annual
      installment payments over a period of 2, 3, 4 or 5 years with each
      installment equal to the unpaid balance (or designated portion) of such
      vested Account as of the preceding December 31st
      divided by the number of remaining
payments.

                

        

      

    

     

    If a
Participant incurs a Disability or terminates employment under subsection (d)
below or due to Retirement prior to the payment date in (b)(1), or the
completion of the installment payments in (b)(2), the provisions of subsection
(a) above (and if applicable, subsection (g) below) relating to payments after
Disability or Retirement or subsection (d) below shall control with respect to
the payment of (or payment of all remaining amounts of) the vested portion of
the Participant’s Account.

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

           
     
(c)          Termination for Cause or
Violation of Restrictive Covenants. Upon a Participant’s Termination of
Employment by the Employer for Cause or if the Participant violates the
Restrictive Covenants set forth in Subsection (i) below, the Participant’s
Employer Contribution Account (whether or not otherwise vested), or any
remaining payments due from such Employer Contribution Account, shall be
immediately forfeited. Except as provided in Section 7.1(g), any vested amount
in the Participant’s Deferral Account shall be distributed to the Participant in
a single, lump sum as soon as administratively feasible following the
Participant’s Termination of Employment for Cause or violation of the
Restrictive Covenants (regardless of whether the Participant is eligible for
Retirement).

     

             
   
(d)          Other Termination of
Employment. Except as provided in Section 7.1(g) below, upon a
Participant’s Termination of Employment or Termination of Service other than due
to death, Disability, Retirement or for Cause or violation of a Restrictive
Covenant, the Participant’s entire vested Account balance shall be distributed
to the Participant in a single, lump sum as soon as administratively feasible
following the Participant’s Termination of Employment or Termination of
Service.

     

                 
(e)          Death. Upon the death
of the Participant while actively employed, the Participant’s Account shall
become 100% vested and shall be payable to the Participant’s Beneficiary in a
lump sum in January of the year following the year in which the Participant
died; provided, however, the Participant may elect in advance, at such time and
in such manner as determined by the Committee, that the Participant’s Account
will be paid to his Beneficiary (i) in annual installments over a period of 5,
10, or 15 years, with the first installment paid in January of the calendar year
following the calendar year in which the Participant died, or (ii) if the
Participant has terminated employment eligible for Retirement and is receiving
payments, in the same manner as it was being paid to the Participant at his date
of death.

     

             
   (f)           
Unforeseeable
Emergency. Upon the occurrence of an “unforeseeable emergency”, as
defined in Code Section 409A and the regulations thereunder, the Participant may
receive a lump sum distribution of such amounts as are necessary to satisfy such
emergency plus amounts necessary to pay taxes reasonably anticipated as a result
of the distribution. The Committee or its designee shall determine the existence
of an unforeseeable emergency and the maximum amount of any distribution in
accordance with the requirements of Code Section 409A and the regulations and
other guidance thereunder. Any distribution on account of an unforeseeable
emergency shall be payable in a lump sum as soon as administratively practical
following approval by the Committee or its designee and shall be payable only
from the vested portion of the Participant’s Account. The Committee or its
designee may prescribe that a Participant who receives a distribution on account
of an unforeseeable emergency may not make additional deferrals of Base Salary
or Director’s Fees for the remainder of the Plan Year or some other time
period.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

           
    
(g)           Special Rule for Key
Employees. Notwithstanding any other provision of this Plan, if the
Participant is or could likely be considered a Key Employee (as determined by
the Committee or its designee in accordance with procedures established by the
Committee that are consistent with Section 409A and the regulations and rulings
thereunder), distributions to such Participant shall not be made before the date
which is 6 months after the date of the Participant’s Termination of Employment
(or, if earlier, the date of death of the Participant), and any distribution
that would otherwise be payable before the 6-month anniversary shall be delayed
and shall be paid within 30 days following such 6-month
anniversary.

     

          
     
(h)           Form of Payment. All
payments from the Plan shall be made in cash, provided that the Committee may
require that amounts deemed to be invested in Company Stock or other Company
Securities shall be paid in shares of Company Stock or other Company
Securities.

    
      
        
          	 
      	 
      	 
      	 
      	 
      
	 
      	
                  (i)

                	
                  Restrictive
      Covenants.

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (1)

                	
                  If,
      during his employment with the Company or at any time during the one (1)
      year period after the Date of Termination, the Participant violates the
      restrictive covenants (“Restrictive Covenants”) set forth in subsection
      (2) below, then the forfeiture provisions of subsection (c) above shall
      apply.

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                  (2)

                	
                  The
      Participant shall not directly or indirectly, individually, or on behalf
      of any Person other than the Company or an Affiliate:

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                  (i)

                	
                  solicit
      any Customers for the purpose of providing services identical to or
      reasonably substitutable for the Company’s Business;

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                  (ii)

                	
                  solicit
      or induce, or in any manner attempt to solicit or induce, any Person
      employed by the Company to leave such employment, whether or not such
      employment is pursuant to a written contract with the Company or any
      Affiliate or is at will;

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                  (iii)

                	
                  engage
      in any Restricted Activities within the Territory or from a business
      location servicing any part of the Territory;

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                  (iv)

                	
                  manage
      any personnel engaging in any Restricted Activities within the Territory;
      or

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                  (v)

                	
                  knowingly
      or intentionally damage or destroy the goodwill and esteem of the Company,
      any Affiliate, the Company’s Business or the Company’s or any Affiliate’s
      suppliers, employees, patrons, customers , and others who may at any time
      have or have had relations with the Company or any
    Subsidiary.

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
                  The
      Participant further agrees that he or she will not, except as necessary to
      carry out his duties as an employee of the Company, disclose or use
      Confidential Information. The Participant further agrees that, upon
      termination or expiration of employment with the Company for any reason
      whatsoever or at any time, the Participant will upon request by the
      Company deliver promptly to the Company all materials (including
      electronically-stored materials), documents, plans, records, notes, or
      other papers, and any copies in the Participant’s possession or control,
      relating in any way to the Company’s Business, which at all times shall be
      the property of the
Company.

                

        

      

    

    

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

    

    

    
      
        
          
            	 
      	 
      	
                    (3)

                  	
                    For
      purposes of this subsection (i), the following terms shall have the
      meanings specified below:

                  
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                    (i)

                  	
                    “Company’s
      Business” means the business of operating a commercial or retail bank,
      savings association, mutual thrift, credit union, trust company,
      securities brokerage or insurance agency.

                  
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                    (ii)

                  	
                    “Confidential
      Information” means information, without regard to form, relating to the
      Company’s or any Affiliate’s customers, operation, finances, and business
      that derives economic value, actual or potential, from not being generally
      known to other Persons, including, but not limited to, technical or
      non-technical data (including personnel data), formulas, patterns,
      compilations (including compilations of customer information), programs,
      devices, methods, techniques, processes, financial data or lists of actual
      or potential customers (including identifying information about
      customers), whether or not in writing. Confidential Information includes
      information disclosed to the Company or any Affiliate by third parties
      that the Company or any Affiliate is obligated to maintain as
      confidential. Confidential Information subject to this Agreement may
      include information that is not a trade secret under applicable law, but
      information not constituting a trade secret only shall be treated as
      Confidential Information under this Agreement for a two (2) year period
      after the Date of Termination.

                  
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                    (iii)

                  	
                    “Customers”
      means all Persons that (1) the Participant serviced or solicited on behalf
      of the Company or any Affiliate, (2) whose dealings with the Company or
      any Affiliate were coordinated or supervised, in whole or in part, by the
      Participant, or (3) about whom the Participant obtained Confidential
      Information, in each case during the term of this Agreement or while
      otherwise employed by the
Company.

                  

          

        

      

    

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                	 
      	 
      	 
      	
                        (iv)

                      	
                        “Date
      of Termination” means the date upon which the Participant’s employment
      with the Company ceases for any reason.

                      
	 	 	 	 	 
	 
      	 
      	 
      	
                        (v)

                      	
                        “Person”
      means any individual, corporation, bank, partnership, joint venture,
      association, joint-stock company, trust, unincorporated organization or
      other entity.

                      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                        (vi)

                      	
                        “Restricted
      Activities” means serving as a director, officer, executive, manager,
      employee or business consultant for a commercial or retail bank, savings
      association, mutual thrift, credit union, trust company, securities
      brokerage or insurance agency.

                      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                        (vii)

                      	
                        “Territory”
      means the Territory as defined in the Participant’s most recent Award
      Agreement under the Company’s 2000 Key Employee Stock Option
      Plan.

                      

              

            

          

        

      

    

    

    
      
        
          	
                  7.2

                	
                  Changes in
      Election.

                
	 
      	 
      
	 
      	
                  A
      Participant may request a change in his election as to the method of
      payment under Section 7.1(a) or as to the date or method of payment under
      Section 7.1(b) on such form as may be established by the Committee. A
      Participant may only change his election two times; provided, however, a
      Participant who has changed his election two times and who experiences a
      change in family circumstance (divorce, marriage, death of a spouse, or
      the birth or adoption of a child), may make a third change to his election
      as long as such change is otherwise consistent with the requirements of
      this provision and is made within 60 days of the date of the change in
      family circumstance; provided, further, that effective December 14, 2006,
      a Participant may change his election under Section 7.1(b) more than two
      times. To be effective, a request for a change must be made at least one
      year prior to the date the Participant’s distributions would otherwise
      commence. A Participant who requests a change as to the method of payment
      for Disability or Retirement or as to the date or method of payment with
      respect to payments during employment or service as a Director must
      request a new payment commencement date that is at least five (5) years
      after the date of commencement of payment previously elected by the
      Participant.

                
	 
      	 
      
	 
      	
                  The
      Committee may, in its discretion offer Participants the opportunity to
      make new payment elections under Sections 7.1(a) and 7.1(b) in accordance
      with the transition rules under Section 409A and the regulations and
      rulings thereunder. Any such elections shall be made at such time and on
      such forms as may be provided by the
Committee.

                

        

      

    

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                    7.3

                  	
                    Direction of
      Payments.

                  
	 
      	 
      
	 
      	
                    Payment
      under this Article VII of amounts credited to a Participant’s Account
      shall be made to the Participant, provided that the Committee may, in its
      discretion and in  accordance with such procedures as may be
      established by the Committee, allow the Participant to direct (which
      direction may be required to be irrevocable) that the Plan make such
      payments directly to a trust, partnership or other legal entity
      established by, or for the benefit of, the Participant. Regardless of the
      entity to which a Participant’s Accounts are paid, the Participant shall
      remain liable for all income and other taxes with respect to such payments
      as provided in Section 10.4.

                  
	 
      	 
      
	
                    7.4

                  	
                    Consequences of a
      Change of Control.

                  
	 
      	 
      
	 
      	
                    Notwithstanding
      anything to the contrary contained in this Plan, upon the occurrence of a
      Change of Control, each Participant’s Account shall become fully vested
      but shall remain subject to the Plan’s payment provisions and the
      Participant’s elections as to time and method of
  payment.

                  

          

        

      

    

     

    ARTICLE
VIII

    ADMINISTRATION

    
      
        
          
            	 
      	 
      
	
                    8.1

                  	
                    Committee

                  
	 
      	 
      
	 
      	
                    The
      general administration of the Plan and the responsibility for carrying out
      its provisions shall be placed in the Compensation Committee of the
      Company’s Board of Directors or such other committee as may be appointed
      from time to time by the Board of Directors to serve at the pleasure
      thereof (the “Committee”).

                  
	 
      	 
      
	
                    8.2

                  	
                    Duties and Binding
      Effect of Decisions

                  
	 
      	 
      
	 
      	
                    The
      Committee shall have the discretion and authority to (i) make, amend,
      interpret and enforce all appropriate rules and procedures for the
      administration of this Plan, (ii) select the Investment Options, (iii)
      decide or resolve any and all questions, including interpretations of this
      Plan, as may arise in connection with the Plan or the benefits payable
      under the Plan, and (iv) maintain all records that may be necessary for
      the administration of the Plan. The decision or action of the Committee
      with respect to any question arising out of or in connection with the
      administration, interpretation and application of the Plan and the rules,
      regulations and procedures promulgated hereunder shall be final and
      conclusive and binding upon all persons having any interest in the
      Plan.

                  
	 	 
	
                    8.3

                  	
                    Committee
      Action

                  
	 
      	 
      
	 
      	
                    Any
      act which the Plan authorizes or requires the Committee to do may be done
      by a majority of its members. The action of such majority, expressed from
      time to time by a vote at a meeting (a) in person, (b) by telephone or
      other means by which all members may hear one another or (c) in writing
      without a meeting, shall constitute the action of the Committee and shall
      have the same effect for all purposes as if assented to by all members of
      the Committee at the time in
office.

                  

          

        

      

    

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                    8.4

                  	
                    Delegation

                  
	 
      	 
      	 
      	 
      
	 
      	
                    The
      members of the Committee may authorize one or more of its members or any
      other person or persons to execute and deliver any instrument, make any
      payment or perform any other act which the Plan authorizes or requires the
      Committee to do. Without limiting the generality of the foregoing, until
      the Committee determines otherwise, the Chief Executive Officer of the
      Company (or his designee) shall be responsible for the execution of the
      routine administration of the Plan.

                  
	 
      	 
      	 
      	 
      
	
                    8.5

                  	
                    Services

                  
	 
      	 
      	 
      	 
      
	 
      	
                    The
      Committee may employ or retain agents to perform such clerical,
      accounting, legal, consulting, trust, trustee and other services as may be
      necessary or desirable to carry out the provisions of the
      Plan.

                  
	 
      	 
      	 
      	 
      
	
                    8.6

                  	
                    Indemnification

                  
	 
      	 
      	 
      	 
      
	 
      	
                    The
      Company shall indemnify and save harmless each member of the Committee
      against all expenses and liabilities, including reasonable legal fees and
      expenses, arising out of membership on the Committee or any actions taken
      as a member of the Committee, excepting only expenses and liabilities
      arising from his own gross negligence or willful misconduct, as determined
      by the Board of Directors.

                  
	 
      	 
      	 
      	 
      
	
                    8.7

                  	
                    Claims
      Procedure

                  
	 
      	 
      	 
      	 
      
	
                                
      (a)           A
      Participant or his duly authorized representative (the “claimant”) may
      make a claim for benefits under the Plan by filing a written claim with
      the Committee. Determinations of each such claim shall be made as
      described below; provided, however, that the claimant and the Committee
      may agree to extended periods of time for making determinations beyond
      those periods described below.

                  
	 
      	 
      	 
      	 
      
	
                            
         
      (b)           The
      Committee will notify a claimant of its decision regarding his claim
      within a reasonable period of time, but not later than 90 days following
      the date on which the claim is filed, unless special circumstances require
      a longer period for adjudication and the claimant is notified in writing
      of the reasons for an extension of time prior to the end of the initial
      90-day period and the date by which the Committee expects to make the
      final decision. In no event will the Committee be given an extension for
      processing the claim beyond 180 days after the date on which the claim is
      first filed with the Committee unless otherwise agreed in writing by the
      claimant and the Committee.

                  
	 
      	 
      	 
      	 
      
	
                             
        
      (c)           If a claim
      is denied, the Committee will notify the claimant of its decision in
      writing. Such notification will be written in a manner calculated to be
      understood by the claimant and will contain the following
      information:

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                     (1)

                  	
                    the
      specific reason(s) for the
denial;

                  

          

        

      

    

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    

    
      
        
          
            	 
      	 
      	
                    (2)

                  	
                    a
      specific reference to the Plan provision(s) on which the denial is
      based;

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (3)

                  	
                    a
      description of additional information necessary for the claimant to
      perfect his claim, if any, and an explanation of why such material is
      necessary; and

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (4)

                  	
                    an
      explanation of the Plan’s claim review procedure and the applicable time
      limits under such procedure and a statement as to the claimant’s right to
      bring a civil action under ERISA after all of the Plan’s review procedures
      have been satisfied.

                  
	 
      	 
      	 
      	 
      
	
                            
         
      (d)           The
      claimant shall have 60 days following receipt of the notice of denial to
      file a written request with the Committee for a review of the denied
      claim. The decision by the Committee with respect to the review must be
      given within 60 days after receipt of the request, unless special
      circumstances require an extension and the claimant is notified in writing
      of the reasons for an extension of time prior to the end of the initial
      60-day period and the date by which the Committee expects to make the
      final decision. In no event will the decision be delayed beyond 120 days
      after receipt of the request for review unless otherwise agreed in writing
      by the claimant and the Committee.

                  
	 
      	 
      	 
      	 
      
	
                            
          
      (e)           Every
      claimant will be provided a reasonable opportunity for a full and fair
      review of an adverse determination. A full and fair review means the
      following:

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (1)

                  	
                    the
      claimant will be given the opportunity to submit written comments,
      documents, records, etc. with regard to the claim for benefits, and the
      review will actually take into account all information submitted by the
      claimant, regardless of whether it was reviewed as part of the initial
      determination; and

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (2)

                  	
                    the
      claimant will be provided, upon request and free of charge, with copies of
      all documents and information relevant to the claim for
      benefits.

                  
	 
      	 
      	 
      	 
      
	
                                 (f)           
      The Committee will notify the claimant of its decision regarding an appeal
      of a denied claim in writing. The decision will be written in a manner
      calculated to be understood by the claimant, and will
    include:

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (1)

                  	
                    the
      specific reason(s) for the denial and adverse
    determination;

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (2)

                  	
                    a
      reference to the specific Plan provisions on which the denial is
      based;

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (3)

                  	
                    a
      statement that the claimant is entitled to receive, upon request and free
      of charge, reasonable access to and copies of all information relevant to
      the claimant’s claim for benefits; and

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (4)

                  	
                    a
      statement regarding the claimant’s right to bring a civil action under
      ERISA.

                  

          

        

      

    

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

                
(g)           If the Committee
fails to follow these procedures consistent with the requirements of ERISA with
respect to any claim, the claimant will be deemed to have exhausted all
administrative remedies under the Plan and will have the right to bring a civil
action under section 502(a) of ERISA.

     

                
(h)           The Committee
shall interpret this Section 8.7 such that the claims procedures applicable
under the Plan conform to the claims review requirements of Part 5, Title I, of
ERISA.

     

    ARTICLE
IX

    AMENDMENT
AND TERMINATION

    
      
        	 
      	 
      
	
                9.1

              	
                Amendment. The
      Company, by action of the Board of Directors or the Compensation Committee
      of the Board of Directors, may at any time or from time to time modify or
      amend any or all of the provisions of the Plan, or stop future deferrals
      to the Plan, provided that no such amendment shall reduce a Participant’s
      Account balance or change existing elections with respect to the time and
      method of payment of a Participant’s Account.

              
	 
      	 
      
	
                9.2

              	
                Termination of
      Plan. The Company expects to continue this Plan, but does not
      obligate itself to do so. The Company reserves the right to discontinue
      and terminate the Plan at any time, in whole or in part, for any reason
      (including a change, or an impending change, in the tax laws of the United
      States or any State). Termination of the Plan shall be binding on all
      Participants and Employers, but in no event may such termination reduce
      the amounts credited at that time to any Participant’s Account. If this
      Plan is terminated, the Participants’ Accounts shall become fully vested,
      and subject to Section 7.1(g), amounts credited to Participants’ Accounts
      shall be paid in a lump sum, provided that (A) the Company terminates at
      the same time any other arrangement that is subject to Section 409A and
      that would be aggregated with the Plan under Section 409A; (B) the Company
      does not adopt any other arrangement that would be aggregated with the
      Plan under Section 409A for three years; (C) the payments upon such
      termination shall not commence until 12 months after the date of
      termination and all such payments must be completed within 24 months after
      the date of termination; and (D) such other requirements as may be imposed
      by Section 409A are
satisfied.

              

      

    

     

    ARTICLE
X

    GENERAL
PROVISIONS

    
      
        	 
      	 
      
	
                10.1

              	
                Limitation on
      Participant’s Rights.

              
	 
      	 
      
	 
      	
                Participation
      in this Plan shall not give any Participant the right to be retained in
      the Employer’s employ, or any right or interest in this Plan or any assets
      of the Employer other than as herein provided. The Employer reserve the
      right to terminate the employment of any Participant at any time without
      any liability for any claim against the Employer under this Plan, except
      to the extent expressly provided
herein.

              

      

    

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  10.2

                	
                  Unsecured General
      Creditor.

                
	 
      	 
      
	 
      	
                  Participants
      and their beneficiaries shall have no legal or equitable rights, interests
      or claims in any property or assets of the Company or an Employer. The
      Company’s or Employer’s obligation under the Plan shall be merely that of
      an unfunded and unsecured promise to pay money in the
    future.

                
	 
      	 
      
	
                  10.3

                	
                  Participation in Other
      Plans.

                
	 
      	 
      
	 
      	
                  Nothing
      in this Plan shall be construed to alter, abridge, or in any manner affect
      the rights and privileges of the Participant to participate in and be
      covered by any pension, profit sharing, group insurance, bonus or similar
      employee plans which an Employer may now or hereafter
      maintain.

                
	 
      	 
      
	
                  10.4

                	
                  Taxes.

                
	 
      	 
      
	 
      	
                  If
      the whole or any part of any Participant’s Account shall become liable for
      the payment of any estate, inheritance, income, or other tax which the
      Employer shall be required to pay or withhold, the Employer shall have the
      full power and authority to withhold and pay such tax out of any moneys or
      other property in its hand for the account of the Participant whose
      interests hereunder are so liable. The Employer shall provide notice to
      the Participant of any such withholding. Prior to making any payment, the
      Employer may require such releases or other documents from any lawful
      taxing authority as it shall deem necessary.

                
	 
      	 
      
	
                  10.5

                	
                  Assignment, Pledge or
      Encumbrance.

                
	 
      	 
      
	 
      	
                  Except
      as expressly provided in Section 7.3, the amounts credited to the Accounts
      of a Participant shall not be subject to assignment, alienation, pledge,
      transfer or other encumbrance of any kind, whether voluntary or
      involuntary, and any such purported assignment, alienation, pledge,
      transfer or other encumbrance shall be void and unenforceable against the
      Plan, the Trust, the Company or any Affiliate; further, the amounts
      credited to the Accounts shall not be liable for, or subject to, legal
      process, claims of creditors, tort claims, or attachment for the payment
      of any claim against any Participant or other person entitled to receive
      such amount; provided, that nothing herein shall prevent an assignment or
      other encumbrance in favor of the Employer to secure any indebtedness of
      any kind of the Participant to the Employer.

                
	 
      	 
      
	
                  10.6

                	
                  Minor or
      Incompetent.

                
	 
      	 
      
	 
      	
                  If
      the Committee determines that any person to whom a payment is due
      hereunder is a minor or is incompetent by reason of a physical or mental
      disability, the Committee shall have the power to cause the payments
      becoming due to such person to be made to another 22 for the benefit of
      such minor or incompetent without responsibility of the Company or the
      Committee to see to the application of such payment. Payments made
      pursuant to such power shall operate as a complete discharge of the
      Company and the
Committee.

                

        

      

    

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    

    
      
        	
                10.7

              	
                Beneficiary.

              
	 
      	 
      
	 
      	
                Each
      Participant may designate, on such form as may be provided by the
      Committee, any person(s), trusts, partnerships, foundations, or other
      legal entity(ies), including his estate, as his Beneficiary under the
      Plan. A Participant may revoke his designation of a Beneficiary or change
      his Beneficiary at any time prior to his death by executing a change of
      beneficiary form and delivering such form to the Committee. If no person
      or legal entity shall be properly designated by a Participant as his
      Beneficiary or if no designated Beneficiary survives him, his Beneficiary
      shall be his estate.

              
	 
      	 
      
	
                10.8

              	
                Binding
      Provisions

              
	 
      	 
      
	 
      	
                The
      provisions of this Plan shall be binding upon each Participant as a
      consequence of his election to participate in the Plan, and his heirs,
      executors, administrators, and assigns. This Plan shall be binding upon,
      and enforceable against, the Company and any successor(s) (whether direct
      or indirect, by purchase, merger, consolidation, sale of assets or
      otherwise) to substantially all of the business or assets of the
      Company.

              
	 
      	 
      
	
                10.9

              	
                Notices.

              
	 
      	 
      
	 
      	
                Any
      election made or notice given by a Participant pursuant to the Plan shall
      be in writing to the Committee or to such representative as may be
      designated by the Committee for such purpose, shall be on such form as may
      be specified by the Committee, and shall not be deemed to have been made
      or given until the date it is received by the Committee or its designated
      representative.

              
	 
      	 
      
	
                10.10

              	
                Alternative
      Action.

              
	 
      	 
      
	 
      	
                In
      the event it shall become impossible for the Company or the Committee to
      perform any act required by this Plan, the Company or Committee may in its
      discretion perform such alternative act as most nearly carries out the
      intent and purpose of this Plan.

              
	 
      	 
      
	
                10.11

              	
                Compliance with Code
      Section 409A.

              
	 
      	 
      
	 
      	
                The
      Plan is intended to satisfy the requirements of Code Section 409A and any
      regulations or guidance that may be adopted thereunder from time to time,
      including any transition relief available under applicable guidance
      related to Code Section 409A. The Plan may be amended or interpreted by
      the Committee as it determines necessary or appropriate in accordance with
      Code Section 409A and to avoid a plan failure under Code Section
      409A(1).

              

      

    

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  10.12

                	
                  Governing
      Law.

                
	 
      	 
      
	 
      	
                  The
      Plan shall be governed by and construed in accordance with ERISA and the
      Code, and to the extent not preempted by such laws, in accordance with the
      laws of the State of Georgia, but not including the choice of law
      provisions thereof.

                
	 
      	 
      
	
                  10.13

                	
                  Headings.

                
	 
      	 
      
	 
      	
                  Article
      and section headings are for convenient reference only and shall not
      control or affect the meaning or construction of any of its
      provisions.

                
	 
      	 
      
	
                  10.14

                	
                  Pronouns.

                
	 
      	 
      
	 
      	
                  The
      masculine pronoun shall be deemed to include the feminine wherever it
      appears in the Plan unless a different meaning is required by the
      context.

                

        

      

    

     

      IN
WITNESS WHEREOF, the Company on December 31, 2008 has adopted the amended and
restated Plan to be effective as of January 1, 2005, except where otherwise
noted, and subject to the transition rules of Section 409A.

    
      
        
          
            
              
                	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	
                        UNITED
      COMMUNITY BANKS, INC.

                      	 
	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	
                        By:

                      	
                        Jimmy
      C. Tallent

                      	 
	 
      	 
      	 	 
      	
                        President
      and CEO

                      	 
	 
      	 
      	 	 
      	 
      	 
	
                        ATTEST:

                      	 	 
      	 
      	 
	 
      	 
      	 	 
      	 
      	 
	
                        By:

                      	
                        Lori
      McKay

                      	 	 
      	 
      	 
	 
      	
                        Secretary

                      	 	 
      	 
      	 

              

            

          

        

      

    

     

     

     

     

    24

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