Document:

Stock Option Plan Amended April 2007

 Exhibit 10.1 
 

 
 FLORIDA BANK GROUP, INC. 

 STOCK OPTION PLAN 

 FLORIDA BANK GROUP, INC. 
 STOCK OPTION PLAN 
 Revised April 30, 2007 

 1. Purpose. Florida Bank Group, Inc., a Florida corporation (the “Company”) hereby adopts the Florida Bank
Group, Inc. Stock Option Plan effective October 24, 2002 (the “Plan”) as an additional incentive to eligible employees and members of the Board of Directors (as determined under Section 3) to enter into or remain in the employ or
directorship of the Company or any Affiliate (as defined below) and to devote themselves to the Company’s success by providing them with an opportunity to acquire or increase their proprietary interest in the Company through receipt of rights
(the “Options”) to purchase the Company’s Common Stock, par value $0.01 per share (the “Common Stock”). No Option granted under the Plan is intended to be an incentive stock option within the meaning of section 422(b) of the
Internal Revenue Code of 1986, as amended (the “Code”) for federal income tax purposes. For purposes of the Plan, the term “Affiliate” shall mean any entity that is considered part of a controlled group of corporations with the
Company under section 414(b) of the Code or any entity that is considered a trade or business that is under common control with the Company within the meaning of section 414(c) of the Code. 
 2. Administration. 
 (a) Executive Committee. The Plan shall be administered by the Executive Committee designated by the Company’s Board of Directors (the “Executive Committee”). The members of the Executive Committee shall be appointed
from time to time by, and shall serve at the discretion of, the Board of Directors. The Executive Committee’s decisions, determinations and interpretations shall be final and binding on all Optionees and all other holders of Options. Subject to
the

  

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provisions of the Plan, the Executive Committee shall have the full and final authority in its discretion to take all actions determined by the Executive Committee to be necessary in the
administration of the Plan. 
 (b) Meetings. The Executive Committee shall hold meetings at such times and places as a
majority of the Executive Committee members may determine. Acts approved at a meeting by a majority of the directors who are members of the Executive Committee or acts approved in writing by the unanimous consent of the Executive Committee shall be
the valid acts of the Executive Committee. 
 (c) Grants. The Executive Committee shall from time to time at its
discretion direct the Company to grant Options pursuant to the terms of the Plan. Subject to the express provisions of the Plan or an action of the Company’s Board of Directors, the Executive Committee shall have the authority to determine the
persons to whom and the times at which Options shall be granted, the number of shares of Common Stock to be granted under an Option and the price and other terms and conditions thereof. In making such determinations the Executive Committee may take
into account the nature of the person’s services and responsibilities, the person’s present and potential contribution to the Company’s success and such other factors as it may deem relevant. The Executive Committee’s
interpretation of any provision of the Plan or of any Option granted under it shall be final, binding and conclusive. 
 (d)
Indemnification. Each Executive Committee member shall be entitled to indemnification by the Company in accordance with the provisions and limitations of the Company’s By-Laws, as the same may be amended from time to time, in connection
with or arising out of any action, suit or proceeding with respect to the administration of the Plan or the granting of Options

  

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under the Plan in which he may be involved by reason of his being or having been a Executive Committee member, whether or not he continues to be a Executive Committee member at the time of the
action, suit or proceeding. 
 3. Eligibility. All persons the Company or an Affiliate employs as employees who, in the
Executive Committee’s judgment, hold positions of responsibility or whose performance can have a significant or material effect on the Company’s long-term success or achievement of specific objectives and all persons who are members of the
Board of Directors of the Company or an Affiliate shall be eligible to participate (the “Optionees”). The Executive Committee, in its sole discretion, shall determine whether an individual qualifies as an Optionee. Subject to the
Plan’s terms and restrictions, an Optionee may receive more than one Option. 
 4. Available Shares. The aggregate
maximum number of shares of the Common Stock for which the Executive Committee may issue Options under the Plan shall be determined by the Company’s Board of Directors, adjusted as provided in Section 8 (the “Shares”). The
Company’s Board of Directors may increase the number of Shares for which the Executive Committee may issue Options by appropriate resolution adopted at a duly constituted meeting of the Board of Directors or by unanimous written consent of the
members of the Board of Directors. Shares shall be issued from authorized and unissued Common Stock or Common Stock held in or hereafter acquired for the Company’s treasury. If any outstanding Option granted under the Plan expires, lapses or is
terminated for any reason, the Shares allocable to the unexercised portion of such Option may again be the subject of grant pursuant to the Plan. 
 5. Term of Plan. The Plan is effective as of October 24, 2002 the date on which the Company’s Board of Directors adopted it. The Plan shall continue until the Company’s Board of
Directors terminates it. 
  

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 6. Terms and Conditions of Options. Options granted pursuant to the Plan shall be
evidenced by written agreements (each an “Option Agreement”) in such form or forms as the Executive Committee shall from time to time approve. Each Option Agreement shall comply with and be subject to the terms and conditions set forth
below and such other terms and conditions which the Executive Committee shall from time to time specify with respect to a particular Option or Options provided they are not inconsistent with the terms of the Plan. The applicable terms need not be
uniform between or among Options. 
 (a) Number of Shares. Each Option Agreement shall state the number of Shares to
which it pertains. 
 (b) Option Price. Each Option Agreement shall state the price at which Shares under Option may be
purchased (the “Option Price”). 
 (c) Exercisability. Each Option granted under the Plan shall be exercisable
(i) at the time or times, (ii) for the term and (iii) subject to such terms and conditions the Executive Committee specifies in the Option Agreement. Upon termination of Optionee’s employment or directorship, all Options which
have not previously vested shall immediately lapse and become void. No Option shall be exercisable after its term expires pursuant to subsection 6(e), 6(f) or 6(g). As a precondition to the exercise of any Option and the receipt of Shares, an
Optionee must execute and agree to be bound by the then-current version of any shareholder agreement or other governing corporate document that is then in effect among the holders of a majority of the Company’s equity securities. 
 (d) Medium of Payment. An Optionee shall pay for Shares (i) in cash, (ii) by certified check payable to the order of the
Company, (iii) by a combination of the foregoing or (iv) by such other mode of payment as the Executive Committee may approve. 
  

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 (e) Termination of Option. Unless the Executive Committee provides otherwise in an
Option Agreement, an Option shall not be exercisable after the first to occur of the following: 
 (i) Term Expiration.
Expiration of the term specified in the Option Agreement, which shall not exceed ten years from the date of grant. 
 (ii)
Employment Termination before Death or Disability. Expiration of 90 days from the date the Optionee’s employment with the Company or its Affiliates terminates for reasons other than death or disability. 
 (iii) Disability or Death. Expiration of one year from the date the Optionee’s employment or directorship terminates due to
death or disability. For purposes of this Plan, “disability” shall mean a determination by the Executive Committee after considering such medical evidence as it deems necessary that the Optionee is unable to perform the primary functions
of his employment position or directorship. 
 (iv) Call. If the Optionee’s employment or directorship terminates,
the Company may unilaterally terminate the Optionee’s option during the period the Option remains exercisable under subsection 6(e)(ii) or (iii) above by payment to the Optionee of an amount equal to the difference (less any applicable tax
withholding) between (i) the fair market value of the Shares as determined by the Company’s Board of Directors based on the appraisal made for the year last ended on or before the notice date and such other factors as the Board of
Directors shall deem relevant and (ii) the Option Price. 
 (v) Forfeiture. The date forfeiture occurs under
subsection 6(f). 
  

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 (f) Forfeiture. An Option shall terminate immediately upon a finding by the Executive
Committee, after full consideration of the facts presented on behalf of both the Company and the Optionee, that the Optionee has engaged in any sort of disloyalty to the Company or an Affiliate, including, without limitation, fraud, embezzlement,
theft, commission of a felony or proven dishonesty in the course of his employment or service or has disclosed trade secrets or confidential information of the Company or an Affiliate or engaged in competition with the Company or an Affiliate. In
such event, in addition to immediate termination of the Option, the Optionee, upon a determination by the Executive Committee, shall automatically forfeit all Shares for which the Company has not yet delivered the share certificates upon the
Company’s refund of the Option Price. Notwithstanding anything herein to the contrary, the Company may withhold delivery of share certificates pending the resolution of any inquiry that could lead to a finding resulting in a forfeiture.

 (g) Transfers. Generally, an Optionee may not transfer any Option granted under the Plan. At the Optionee’s
death, an Optionee may transfer an Option by will or by the laws of descent and distribution. If a transfer occurs under this subsection, the transferred Option shall remain subject to all Plan provisions. A transferee shall be required to furnish
proof satisfactory to the Executive Committee of the transfer to him by will or laws of descent and distribution. As a precondition to receiving any transferred Option, the transferee must execute and agree to be bound by the then-current version of
any shareholder agreement or other governing corporate document that is then in effect among the holders of a majority of the Company’s equity securities. 
 (h) Repurchase Rights; Rights of First Refusal. All Shares issued upon exercise of Options shall be subject to a right of first refusal and other transfer restrictions provided for under

  

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the Company’s Certificate of Incorporation, as amended, the then-current shareholder agreement or other applicable Company documents. In addition, as a condition of Option exercise, the
Executive Committee may include in the Option Agreement a requirement that the Optionee become a party to an agreement with the Company that requires the Optionee to sell the Shares back to the Company at the Option Price or a formula price, as
provided for in such agreement. Shares shall bear appropriate legends reflecting applicable restrictions. 
 (i) Other
Provisions. The Option Agreement shall contain such other provisions, without limitation, as the Executive Committee shall deem advisable. 
 (j) Amendment. The Executive Committee shall have the right to amend Option Agreement issued to an Optionee subject to the Optionee’s consent. 
 (k) Triggering Event. Upon the occurrence of any “triggering event” specified below and approval by the Company’s
Board of Directors, an Optionee shall be deemed to have exercised all of his Options. If a triggering event occurs and the Company’s Board of Directors has given its consent, all of an Optionee’s outstanding Options shall be deemed vested
and exercisable. 
 (i) Asset Sale. Sale of all or substantially all of the operating assets of the Company to an
unrelated party. 
 (ii) Stock Sale. Sale, merger, or consolidation that results in more than 50 percent of the
Company’s equity securities then issued and outstanding to be owned by persons or entities other than the Company’s shareholders on the date hereof (or any family member of any shareholder or any entity controlled by any shareholder).

 (iii) Corporate Transaction. Completion of a transaction (or series of integrated transactions) that has the economic
effect of any of the events described above. 
 7. Method of Option Exercise. Optionee may exercise this Option by
written notice to the Company’s Chairman and Chief Executive Officer specifying the number of shares to be purchased accompanied with the payment of the Option Price in cash, by certified check or by a

  

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combination of the foregoing. Such exercise shall be effective when actually received by the Company’s Chairman and Chief Executive Officer at the Company’s principal place of business.
Unless the shares are covered by a then current registration statement or a Notification under Regulation A of the Securities Act of 1933 (“Act”) and current registration under all applicable state securities laws, containing the
Optionee’s acknowledgement in form and substance satisfactory to the Company that the Optionee (i) is purchasing the shares for investment and not for distribution or resale (other than a distribution or resale that, in the opinion of
counsel to the Company, may be made without violating the registration provisions of the Act), (ii) has been advised and understands that (A) the shares have not been registered under the Act and are “restricted securities”
within the meaning of Rule 144 of the Act and are subject to restrictions on transfer and (B) the Company is under no obligation to register the shares under the Act to take any action which could make available to the Optionee an exemption
from such registration and (iii) has been advised and understand that such shares may not be transferred without compliance with all applicable federal and state securities laws. 
 8. Adjustments on Changes in Common Stock. The aggregate number of shares and class of shares as to which Options may be granted
hereunder, the number of Shares covered by each outstanding Option and the Option Price thereof in the event of a stock dividend, stock split, recapitalization or other change in the number or class of issued and outstanding equity securities of the
Company resulting from a subdivision or consolidation of the Common Stock and/or other outstanding equity security or a recapitalization or other capital adjustment (not including the issuance of Common Stock upon the conversion of other securities
of the Company which are convertible into Common Stock) affecting the Common Stock shall be appropriately adjusted by the

  

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Board of Directors. The Board of Directors, or the Executive Committee if so delegated by the Board of Directors, shall have authority to determine the adjustments to be made under this Section
and any such determination by the Board of Directors or Executive Committee shall be final, binding and conclusive. 
 9.
Amendment of the Plan. The Board of Directors of the Company may amend the Plan from time to time in such manner as it may deem advisable or terminate the Plan in full. 
 10. Continued Employment. The grant of an Option pursuant to the Plan shall not be construed to imply or to constitute evidence of
any agreement, express or implied, on the part of the Company or any Affiliate to retain the Optionee in the employ of the Company or an Affiliate or as a member of the Company’s or an Affiliate’s Board of Directors or in any other
capacity. 
 11. Withholding of Taxes. As a condition for the receipt of an Option, the Optionee agrees that the Company
(or the Affiliate employing him) may deduct from wages or other amounts payable to him or that he will pay over to the Company any amount necessary to satisfy any federal, state and/or local withholding tax requirements and that the Company shall
have the right to take whatever action it deems necessary to protect its interests with respect to tax liabilities resulting from any act or event in connection with the Plan. 
 12. Rules of Interpretation. Regardless of the number and gender specifically used, words used in the Plan shall be deemed and
construed to include any other number (singular or plural) and any other gender (masculine, feminine or neuter) as the context indicates is appropriate. Section headings are for convenience only; they form no part of the Plan. 
 13. Governing Law. This Agreement shall be governed by and interpreted under the laws of the State of Delaware without giving effect
to any conflict of law provisions. 
  

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 14. Severability. If any provision of this Agreement or application thereof to anyone
or under any circumstances is adjudicated to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this Agreement which can be given effect without the invalid or
unenforceable provision or application and shall not invalidate or render unenforceable such provision or application in any other jurisdiction. 
  

							
		 		 	ATTEST:
			
		 		 	FLORIDA BANK GROUP, INC.
				
	 /s/ Kim P. Buchanan
	 		 	By:	 	 /s/ Robert Rothman

	Secretary	 		 		 	Robert Rothman
	(Corporate Seal)	 		 		 	Chairman of the Board
				
		 		 	Date:	 	 5/1/2007

  

 10Employment Agreement with Corey Coughlin

 Exhibit 10.2 
 FLORIDA BANK GROUP, INC. 
 EMPLOYMENT AGREEMENT

 EMPLOYMENT AGREEMENT (the “Agreement”) dated as of April 16, 2007 by and between FLORIDA BANK GROUP,
Inc., (“Employer”), and Corey Coughlin (“Employee”). 
 W I T N E S
S E T H: 
 WHEREAS, Employer desires to have the benefit of Employee’s knowledge and
experience in the affairs of Employer; and 
 WHEREAS, Employee desires to be employed by Employer upon the terms and conditions
hereinafter set forth. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

 1. Employment. Employer hereby employs Employee, and Employee hereby accepts such employment and agrees to perform
Employee’s duties and responsibilities hereunder, in accordance with the terms and conditions hereinafter set forth. 
 2.
Employment Term. The term of this Agreement (the “Employment Term”) is for a period of three (3) years, commencing April 16, 2007. 
 3. Duties and Responsibilities. Employee shall perform such duties and accept such responsibilities as may be assigned to Employee by the Board of Directors of Employer (the “Employer
Board”), its Chairman of the Board (“Chairman”) or other officer so designated by the Employer Board, and Employee shall cooperate fully with the Employer Board and Employer’s Chairman . 
 4. Extent of Service. Employee shall use Employee’s best efforts in the business of Employer, and Employee shall devote
substantially Employee’s full time, attention and energy to the business of Employer and to the performance of Employee’s services and the discharge of Employee’s duties and responsibilities hereunder. Except as provided in
Section 8 hereof, the foregoing shall not be construed as preventing Employee from making investments in other business or enterprises provided that Employee agrees not to become engaged in any other business activity that may interfere with
Employee’s ability to discharge Employee’s duties and responsibilities hereunder to Employer. Employee further agrees not to work either on a part time or independent contractual basis for any other business or enterprise during the
Employment Term without the prior written approval of the Employer Board. 
  

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 5. Compensation. For all the services rendered by Employee hereunder, Employer shall
pay Employee a salary at the annual rate of two hundred and fifty thousand dollars ($250, 000.00), less withholding required by law or agreed to by Employee, payable in installments at such times as Employer customarily pays its other employees (but
in no event less often than monthly). Such salary may be increased from time to time in the sole discretion of Employer, but at no time shall Employee have the right to receive or continue to receive an annual salary greater than that specified
above. In addition to such annual salary, Employee shall be entitled to annual paid vacation in accordance with Employer’s vacation policy as in effect from time to time and to participate in such fringe benefit plans of Employer as Employer,
in its sole discretion, shall sponsor from time to time that cover all employees of Employer or the class of employees of comparable rank as Employee on the same basis as other eligible employees of Employer. 
 6. Special Benefits. 
  

	 	a.)	Signing Bonus. Upon execution of the Agreement, Employer will pay Employee a signing bonus of $150,000, payable in a lump sum. 

  

	 	b.)	Automobile. Employee shall be required to have an automobile available to him for use in connection with discharging his responsibilities under this Agreement.
Employee shall be solely responsible for the acquisition of such automobile and is entitled also to replace the said automobile upon its becoming unfit for its intended use or every three (3) years at a cost of no more than $100,000. Employer
will cover all expenses, including both business and personal, associated with the automobile, including without limitation, providing adequate insurance, maintenance, fuel, tolls, parking, and other expenses. 

  

	 	c.)	Stock Options. Employee shall be eligible to receive options or other equity-based long-term incentives pursuant to plans or programs in accordance with policies
that the Employer establishes. 

  

	 	a.	Upon execution of this Agreement, an Incentive Stock Option will be granted Employee for 100,000 shares of Florida Bank Group at a price of $16.50 per share,
such right vesting over the three years from the effective date of this Agreement. 

  

	 	b.	In addition, as a director of each of the four current entities in which Employee is to be appointed as a director ( Florida Bank Group, Bank of St. Petersburg,
Bank of North Florida, and Bank of Tallahassee), an additional stock option for 7,500 shares shall be granted, at a strike price of $16.50 per share in such entity and vesting over three (3) years from the date of each such appointment. Any
additional option for any other entity shall be consistent with the director option program that may be implemented 

  

	 	c.	If requested by Employee, Employer will provide a loan at its most favorable terms to assist Employee with the options held by Employee from his full time
employment immediately prior to the entry of this Agreement 

  

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	 	d.)	Taxes. Employer shall withhold against payments made under this Section 6 or base salary under Section 5 all amounts Employer determines are required
by applicable law to be withheld for income tax or payroll taxes. 

  

	 	e.)	Employer will also make available to Employee, if he so requests, the use of a company apartment or condominium in Tampa, Florida. 

 7. Confidential Information. 
 (a) Employee acknowledges that by reason of Employee’s employment by Employer, Employee will have access to confidential information of the Employer Group (as defined below), including, without
limitation, information and knowledge pertaining to products, inventions, discoveries, improvements, innovations, designs, ideas, trade secrets, proprietary information, manufacturing, packaging, advertising, distribution and sales methods, sales
and profit figures, customer and client lists and relationships between members of the Employer Group and dealers, distributors, sales representatives, wholesalers, customers, clients, suppliers and others who have business dealings with them
(“Confidential Information”). Employee acknowledges that such Confidential Information is a valuable and unique asset of Employer and the other members of the Employer Group and covenants that, both during and after employment hereunder,
Employee will not disclose any Confidential Information to any person (except as Employee’s duties may require) without the prior written authorization of the Employer Board. The obligation of confidentiality imposed by this Section 7
shall not apply to information that becomes generally known to the public through no act of Employee in breach of this Agreement. For purposes of this Agreement, the term “Employer Group” shall mean the Employer and business entities in
which the Employer or its shareholders owns at least 20% of the equity interests. 
 (b) Employee acknowledges that all
documents, files and other materials received from Employer or any member of the Employer Group during Employee’s employment (with the exception of documents relating to Employee’s compensation or benefits to which Employee is entitled
following termination of employment) are for use of Employee solely in discharging Employee’s duties and responsibilities hereunder and that Employee has no claim or right to the continued use or possession of such documents, files or other
materials following termination of the Employment Term. Employee agrees that upon termination of the Employment Term, Employee will not retain any such documents, files or other materials and will promptly return to Employer any documents, files or
other materials in Employee’s possession or custody. 
 8. Non-Competition. During the Employment Term and without
regard to its termination for any reason which does not constitute a breach of this Agreement by Employer, and for a period of one year after the termination of this Agreement, Employee shall not, unless acting pursuant hereto or with the prior
written consent of the Employer Board: 
 (a) directly or indirectly, own, manage, operate, finance, join, control or
participate in the ownership, management, operation, financing or control of, or be connected as an officer, director, employee, partner, principal, agent, representative, consultant or otherwise with, or use or permit Employee’s name to be
used in connection with any Competing Business (as defined below); provided, however, that notwithstanding the foregoing, this provision shall not be construed to prohibit the ownership by Employee of not more than 1% of the capital stock of any
corporation which is engaged in any of the foregoing businesses having a class of securities registered pursuant to the Securities Exchange Act of 1934; 
  

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 (b) solicit or divert to any Competing Business any individual or entity which is a customer
of Employer or any member of the Employer Group or was such a customer at any time during the preceding 12 months; or 
 (c)
employ, attempt to employ, solicit or assist any Competing Business in employing any employee of Employer or any member of the Employer Group. 
 The term “Competing Business” shall mean any business or enterprise engaged in the business of financial services, banking, insurance or real estate development or in any other business engaged
in by Employer or any other member of the Employer Group within (i) any state of the United States or the District of Columbia or (ii) any foreign country in which Employer or any member of the Employer Group has engaged in any such
business within the preceding 12 months or, to Employee’s knowledge, is about to engage in such business. 
 In the event
that the provisions of this Section 8 should ever be adjudicated to exceed the time, geographic, product or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to
the maximum time, geographic, product or other limitations permitted by applicable law. 
 9. Equitable Relief. Employee
acknowledges that the restrictions contained in Sections 7 and 8 hereof are, in view of the nature of the business of Employer and the other members of the Employer Group, reasonable and necessary to protect the legitimate interests of Employer, and
that any violation of any provision of those Sections will result in irreparable injury to Employer and other members of the Employer Group. Employee also acknowledges that in the event of any such violation, Employer shall be entitled to
preliminary and permanent injunctive relief, without the necessity of proving actual damages, and to an equitable accounting of all earnings, profits and other benefits arising from any such violation, which rights shall be cumulative and in
addition to any other rights or remedies to which Employer may be entitled. Employee agrees that in the event of any such violation, an action may be commenced for any such preliminary and

  

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permanent injunctive relief and other equitable relief in any federal or state court of competent jurisdiction sitting in Hillsborough County, Florida or in any other court of competent
jurisdiction. Employee hereby waives, to the fullest extent permitted by law, any objection that Employee may now or hereafter have to such jurisdiction or to the laying of the venue of any such suit, action or proceeding brought in such a court and
any claim that such suit, action or proceeding has been brought in an inconvenient forum. Employee agrees that effective service of process may be made upon Employee by mail under the notice provisions contained in Section 12 hereof.

 10. Termination. 
 (a) Partial or Total Disability. If in the judgment of the Employer Board, Employee is unable to perform Employee’s duties and responsibilities hereunder by reason of illness, injury or
incapacity for three (3) consecutive months, during which time Employer shall continue to compensate Employee hereunder (with such compensation to be reduced by the amount of any disability or similar payment received by Employee for this time
period under any plan sponsored by Employer), Employer may terminate Employee’s employment, in which event Employer shall not have any further liability or obligation to Employee except for unpaid salary and benefits accrued to the date of
Employee’s termination and for any additional disability, severance or other benefits otherwise payable to Employee under any applicable formal policy or plan which covers Employee at the time of Employee’s termination and is in effect at
that time. Employee agrees, in the event of any dispute under this Section 10(a) and if requested by Employer, to submit to a physical examination by a licensed physician selected by Employer, the cost of such examination to be paid by
Employer. 
 (b) Death. In the event that Employee dies during the period of employment hereunder, Employer shall pay to
Employee’s executors, administrators or personal representatives, as appropriate, an amount equal to the installment of Employee’s compensation payable for the month in which Employee dies. Thereafter, Employer shall not have any further
liability or obligation hereunder to Employee’s executors, administrators, personal representatives, heirs, assigns or any other person claiming under or through Employee. 
 (c) Other Terminations. Employer or Employee may terminate this Agreement during the Employment Term by giving the other written
notice of such termination in accordance with Section 12 at least 60 days prior to the termination date. If Employer’s termination of Employee’s employment is not for “cause” (as defined below), Employer shall make payments
to Employee for the remainder of the Employment Term, or no less than twelve (12) months, in an amount equal to Employee’s base salary as in effect on date of termination provided Employee delivers to Employer a release substantially in
the form attached hereto as Exhibit A. Employer shall provide Employee a copy of the applicable Release with or after distribution of the notice of termination. Employer will make payments, less applicable tax and other withholding, on
Employer’s regular payroll dates. If Employee terminates this Agreement, Employer shall make no payment to Employee under this Section 10(c). For purposes of this

  

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Section 10(c), Employee shall be deemed to have been terminated by Employer (and not voluntarily) if he elects to discontinue his employment with Employer because (i) Employee is
assigned duties or responsibilities inconsistent with his position on the date hereof or has any material reduction in his responsibilities, duties or authority as in effect on the date hereof, or (ii) Employer fails to pay Employee any base
salary or other compensation within 30 days of the date such compensation is due. For purposes of this Agreement, “cause” means (i) the Employee’s committing an act of fraud on Employer, a member of the Employer Group or its
shareholders in connection with the performance of his duties, (ii) the conviction of Employee (or Employee’s entering a plea of guilty no contest) of a felony or violation of any criminal statute of any jurisdiction for which imprisonment
of three months or more may be imposed, (iii) Employee’s gross negligence or intentional misconduct in the performance of his duties or (iv) any serious or continuing breach by Employee of any material term of this Agreement or any
other written agreement between him and Employer. 
 11. Survival. Notwithstanding the termination of employment by
Employer for any reason, the obligations of Employee under Sections 7 and 8 hereof shall survive and remain in full force and effect for the periods therein provided, and the provisions for equitable relief against Employee in Section 9 hereof
shall continue in force. 
 12. Notices. All notices and other communications required or permitted hereunder or
necessary or convenient in connection herewith shall be in writing and shall be deemed to have been given when hand delivered, in person or by a recognized courier or delivery service, when telefaxed to the recipient’s correct telefax number
(with receipt confirmed) or when mailed by registered or certified mail, return receipt requested, as follows (provided that notice of change of address shall be deemed given only when received): 
  

					
		 	If to Employer, to:	    	Mr. Robert Rothman
		 		    	Chairman of the Board
		 		    	Florida Bank Group, Inc.
		 		    	251 North Franklin St.
		 		    	Suite 2800
		 		    	Tampa, Florida 33602

 If to Employee, to Employee’s last known address on Employer’s personal
records: 
 or to such other name or address as any designated recipient shall specify by notice to the other designated recipients in the
manner specified in this Section 12. 
 13. Governing Law. This Agreement shall be governed by and interpreted under
the laws of the State of Florida without giving effect to any conflict of law provisions. 
  

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 14. Contents of Agreement, Amendment and Assignment. This Agreement sets forth the
entire understanding between the parties hereto with respect to the subject matter hereof and shall not be changed, modified or terminated except upon written amendment executed by Employer and Employee. All of the terms and provisions of this
Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, executors, administrators, personal representatives, successors and assigns of the parties hereto, except that the duties and responsibilities of
Employee hereunder are of a personal nature and shall not be assignable or delegable in whole or in part by Employee. In the event that Employer shall sell substantially all of its operating assets of the division or unit in which Employee is
engaged to a third party which agrees in writing to assume all of Employer’s obligations hereunder, then Employer shall, upon the closing of any such transaction, have no further duties or obligations hereunder. 
 15. Severability. If any provision of this Agreement or application thereof to anyone or under any circumstances is adjudicated to be
invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this Agreement which can be given effect without the invalid or unenforceable provision or application and shall
not invalidate or render unenforceable such provision or application in any other jurisdiction. 
 16. Remedies Cumulative;
No Waiver. No remedy conferred upon either party by this Agreement is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to any other remedy given hereunder or now or
hereafter existing at law or in equity. No delay or omission by either party in exercising any right, remedy or power hereunder or existing at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may be
exercised by such party from time to time and as often as may be deemed expedient or necessary by such party in such party’s sole discretion. 
 17. Waiver of Breach. Failure to insist upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any
waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. 
 IN WITNESS WHEREOF, Employer and Employee have executed this Agreement as of the date first above written. 
  

					
		    	FLORIDA BANK GROUP, INC.
	[Corporate Seal]	    	
		
	Attest:	    	
			
	 /s/ Kim P. Buchanan
	    	By:	 	 /s/ Robert Rothman

		    		 	Chairman of the Board
		
		    	EMPLOYEE
		
	 /s/ Kim P. Buchanan
	    	 /s/ Corey Coughlin

	Witness	    	Corey Coughlin

  

 7

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