Document:

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EXHIBIT 10.2

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT, dated as of the 1st day of January, 2004, by and among
Tarpon Coast Bancorp, Inc., a Florida corporation (the "Holding Company"),
Tarpon Coast National Bank a national bank organized under the laws of the
United States (the "Bank") (collectively referred to herein as the "Employer"),
and Lewis S. Albert (the "Executive").

                                   WITNESSETH:

         WHEREAS, the Boards of Directors of the Employer desire to employ
Executive to serve as Chairman of the Board & Chief Executive Officer of the
Holding Company and the Bank; and

         WHEREAS, Executive is willing to become employed by the Holding Company
and the Bank as Chairman and Chief Executive Officer in accordance with the
terms and conditions hereinafter set forth:

1.       Employment. Employer employs Executive and Executive accepts employment
         upon the terms and conditions set forth in this Agreement.

2.       Term. The term of employment of Executive under this Agreement shall be
         for twenty-four (24) months and commence on January 1, 2004. If this
         contract is not renewed or renegotiated prior to the end of its term,
         it will be treated as a termination without cause and compensated as
         indicated in paragraph 11.b.

3.       Compensation.

         For all services rendered by Executive, Executive shall be paid a
         minimum annual base salary of $182,000 per year. The minimum annual
         base salary will be paid by the Bank in equal semi-monthly installments
         during the term of this Agreement. Salary payments shall be subject to
         withholding and other applicable taxes.

4.       Title and Duties. Executive shall serve as Chairman of the Board and
         Chief Executive Officer of the Holding Company and of the Bank.
         Executive shall be responsible for overall operations of the Holding
         Company and the Bank, including implementing the Board's directives;
         acting as chief regulatory contact; monitoring the Employer's progress
         and presenting regular reports to the Boards on financial, lending and
         deposit activities and on other operations; actively involved in
         community relations and business development; and be responsible for
         strategic planning efforts.

5.       Extent of Services. Executive shall devote his entire time, attention
         and energies to the business of Employer and shall not during the term
         of this Agreement be engaged in any other business activity which
         requires the attention or participation of Executive during normal
         business hours of Employer, recognition being given to the fact that
         Executive is expected on occasion to participate in client development
         after normal business hours. However, Executive may invest his assets
         in such form or manner as will not require his services in the
         operation of the affairs of the companies in which such investments are
         made, except that Executive shall not make an investment in the
         securities of any competing financial institution without the express
         approval of the Boards of Directors of the Employer. Executive shall
         notify Employer of any significant participation by him in any trade
         association or similar organization.

6.       Working Facilities. Executive shall receive from the Bank, such
         assistants, perquisites, facilities and services as are suitable to his
         position and appropriate for the performance of his duties on behalf of
         such entity. In addition, the Bank shall provide Executive membership
         in a country or golf club (including dues, assessments and initiation
         fees) of his choice and Executive shall have the option at the
         termination of his employment for any reason to repurchase said
         membership from the Bank.

7.       Expenses. Executive may incur reasonable expenses for promoting the
         business of the Bank, including expenses for entertainment, travel, and
         similar items. Executive will be reimbursed by the Bank for all such
         expenses upon Executive's periodic presentation of an itemized account
         of such expenditures with receipts attached.

8.       Vacations. Executive shall be entitled each year to five (5) weeks of
         vacation time in accordance with the personnel policy established by
         the Bank's Board of Directors, during which time Executive's
         compensation shall be paid in full.

<PAGE>

9.       Additional Compensation. As additional consideration paid to Executive,
         Executive shall be provided with and participate in all employee
         benefit plans offered by the Bank to all of its employees, including
         health, hospitalization, disability, life insurance, travel insurance,
         bonus, retirement and savings plans. In addition, Executive shall be
         provided with a term life insurance policy of at least $200,000, which
         shall include an accidental death or dismemberment provision of two
         times the face amount of the policy.

10.      Change in Control of the Bank.

         a.       In the event of a "change in control" of the Employer, as
                  defined herein, and only to the extend permitted by applicable
                  statutes and regulations, Executive shall be entitled, for a
                  period of thirty (30) days from the date of closing of the
                  transaction effecting such change in control and at his
                  election, to give written notice to Employer of termination of
                  this Agreement and to receive a cash payment equal to one time
                  (100%) the compensation, including incentive compensation, if
                  any, received by Executive in the one-year period immediately
                  preceding the change in control. The severance payments
                  provided for in this Section 10.a. shall be paid in cash,
                  commencing not later than ten (10) days after the date of
                  notice of termination by Executive under this Section 10 or
                  ten (10) days after the date of closing of the transaction
                  effecting the change in control of the Employer, whichever is
                  later.

         b.       In addition, if Executive elects to terminate this Agreement
                  pursuant to this Section 10, Executive shall further be
                  entitled, in lieu of shares of Common Stock of the Holding
                  Company issuable upon exercise of stock options to which
                  Executive is entitled, an amount in cash or Common Stock of
                  the Holding Company or any other company into which shares of
                  the Holding Company are convertible (or any combination
                  thereof) as Executive shall in his election designate equal to
                  the excess of the fair market value of the Common Stock as of
                  the date of closing of the transaction effecting the change in
                  control over the per share exercise price of the options held
                  by Executive, times the number of shares of Common Stock
                  subject to such options (whether or not then fully
                  exercisable). The fair market value of the Common Stock shall
                  be equal to the higher of (i) the value as determined by the
                  Board of Directors of the Holding Company if there is no
                  organized trading market for the shares at the time such
                  determination is made, which per share value shall not be less
                  than 1.8 times the per share book value of the stock or (ii)
                  the closing price (or the average of the bid and asked prices
                  if no closing price is available) on any nationally recognized
                  securities exchange or association on which the Holding
                  Company's shares may be quoted or listed, or (iii) the highest
                  per share price actually paid for Common Stock of the Holding
                  Company in connection with any change in control of the
                  Employer. The severance payments provided for in this Section
                  10.b. shall be paid in full not later than ten (10) days after
                  the date of notice of termination by Executive under this
                  Section 10 or ten (10) days after the date of closing of the
                  transaction effecting the change in control of the Employer,
                  whichever is later.

         c.       Further, upon a "change in control", the Company and the Bank
                  shall cause the Key Man whole life insurance policy on
                  Executive in the face amount of $500,000, currently owned by
                  and maintained for the benefit of the Company and the Bank, to
                  be conveyed to Executive on a fully paid-up basis. The Company
                  and the Bank, in so doing, will relinquish any interest in
                  benefits under the policy. During the term of this agreement
                  and any extensions and renewals thereof, the Company and the
                  Bank shall continue to fund premiums in such amounts to ensure
                  the continuation of benefits under the policy. This conveyance
                  is not contingent upon the notice requirements set forth in
                  this Section 10.

         d.       For purposes of this Section 10, "change in control" of the
                  Employer shall mean:

                  1.       any transaction, whether by merger, consolidation,
                           asset sale, tender offer, reverse stock split, or
                           otherwise, which results in the acquisition or
                           beneficial ownership (as such term is defined under
                           rules and regulations promulgated under the
                           Securities Exchange Act of 1934, as amended) by any
                           person or entity or group of persons or entities
                           acting in concert, of 50% or more of the outstanding
                           shares of Common Stock of the Employer.

                  2.       the sale of all or substantially all of the assets of
                           the Employer; or

                  3.       the liquidation of the Employer.

         e.       If any payments to be made under this Section 10 constitute an
                  "Excess Parachute Payment" as that term is defined in Section
                  280(g) of the Internal Revenue Code, the payments shall be
                  reduced to the largest amount, which would not constitute an
                  "Excess Parachute Payment".

<PAGE>

11.      Termination.

         a.       For Cause. This Agreement may be terminated by the Boards of
                  Directors of the Employer without notice and without further
                  obligations other than for monies already paid, for any of the
                  following reasons:

                  i.       failure of Executive to follow reasonable written
                           instructions or policies of the Boards of Directors
                           of the Employer;

                  ii.      gross negligence or willful misconduct of Executive
                           materially damaging to the business of the Employer
                           during the term of this Agreement, or at any time
                           while he was employed by the Employer prior to the
                           term of this Agreement, if not disclosed to the
                           Employer prior to the commencement of the term of
                           this Agreement; or

                  iii.     conviction of Executive during the term of this
                           Agreement of a crime involving breach of trust or
                           moral turpitude; or

                  iv.      at the request of any bank regulatory authority with
                           jurisdiction over the Employer.

                  In the event that the Employer discharges Executive alleging
                  "cause" under this Section 11.a. and it is subsequently
                  determined judicially that the termination was "without
                  cause," then such discharge shall be deemed a discharge
                  without cause subject to the provisions of Section 11.b.
                  hereof. In the event that the Employer discharges Executive
                  alleging "cause" under this Section 11.a, such notice of
                  discharge shall be accompanied by a written and specific
                  description of the circumstances alleging such "cause". The
                  termination of Executive for "cause" shall not entitle the
                  Employer to enforcement of the non-competition and
                  non-solicitation covenants contained in Section 13 hereof,
                  unless the employee purposely engages in conduct constituting
                  "cause" for the purpose of negating the non-competition
                  provision.

         b.       Without Cause.

                  i.       Notwithstanding the provisions of Section 2 of this
                           Agreement, the Employer may, upon thirty (30) days'
                           written notice to Executive, or by the giving of a
                           notice under Section 2 of this Agreement terminate
                           this Agreement without cause at any time during the
                           term of this Agreement upon the condition that
                           Executive shall be entitled, as liquidated damages in
                           lieu of all other claims, to the same severance
                           payments as provided in Section 10 hereof; provided
                           that for purposes of Section 10.b., the fair market
                           value of Common Stock shall be determined as of the
                           date of notice of termination of this Agreement given
                           by the Employer to Executive. The severance payments
                           provided for in this Section 11.b. shall commence not
                           later than thirty (30) days after the actual date of
                           termination of employment of Executive.

                  ii.      Executive may upon thirty (30) days' written notice
                           to Employer terminate his Agreement without cause at
                           any time during the term of this Agreement. In the
                           event of termination of this Agreement by Executive,
                           the Employer shall have no further obligation to
                           Executive than for monies paid.

12.      Death or Disability.

         a.       In the event of Executive's death during the term of this
                  Agreement, Employer shall pay to Executive's designated
                  beneficiary, or if Executive has failed to designate a
                  beneficiary, to his estate, an amount equal to Executive's
                  base salary pursuant to Section 3 hereof through the end of
                  the month in which Executive's death occurred plus an amount
                  equal to ninety (90) days salary. Employer shall also continue
                  to provide Executive's survivors with any benefits it provided
                  Executive for such additional ninety (90) day period.

         b.       In the event of Executive's disability during the term of this
                  Agreement, Employer shall pay to Executive an amount equal to
                  Executive's base salary pursuant to Section 3 hereof through
                  the end of the month in which Executive's disability occurred
                  plus an amount equal to six (6) months salary. Employer shall
                  also continue to provide Executive with any benefits it
                  provided Executive prior to his disability for a period of six
                  (6) months following his disability and shall continue to pay
                  the premiums on any life and disability policies provided by
                  the Employer for the benefit of Executive prior to his
                  disability.

<PAGE>

         c.       The compensation set forth in Sections a. and b. of this
                  Section 12 shall be in lieu of any other benefits provided
                  hereunder, except that (i) in the event of a change in control
                  of the Employer as defined herein during the ninety (90) day
                  or six (6) month periods described in Sections a. and b. of
                  this Section 12, Executive, Executive's designated beneficiary
                  or Executive's estate, as the case may be, shall be entitled
                  to the benefits of Section 10.b. hereof, and (ii) any benefit
                  payable pursuant to Section 3 shall be prorated and made
                  available to Executive or his beneficiary or estate in respect
                  of any period prior to his death or disability. and (iii) in
                  the event of Executive's disability, Employer shall continue
                  to pay the premiums on any life and disability policies
                  provided by the Employer for the benefit of Executive prior to
                  his disability. The Employer may maintain insurance on its
                  behalf to satisfy in whole or in part the obligations of this
                  Section 12.

         d.       Executive shall be deemed disabled if, by reason of physical
                  or mental impairment, he is incapable of performing his duties
                  hereunder for a period of 180 consecutive days.

13.      Notices. Any notice required or desired to be given under this
         Agreement shall be deemed given if in writing sent by certified mail to
         his residence in the case of Executive, or to its principal office in
         the case of Employer.

14.      Waiver of Breach. The waiver of Employer of a breach of any provision
         of this Agreement by Executive shall not operate or be construed as a
         waiver of any subsequent breach by Executive. No waiver shall be valid
         unless in writing and signed by an authorized officer of Employer.

15.      Assignment. Executive acknowledges that the services to be rendered by
         him are unique and personal. Accordingly, Executive may not assign any
         of his rights or delegate any of his duties or obligations under this
         Agreement. The rights and obligations of Executive under this Agreement
         shall inure to the benefit of and shall be binding upon the successors
         and assigns of Employer.

16.      Governing Law. This Agreement shall be governed and construed in
         accordance with the laws of the State of Florida.

17.      Entire Agreement. This Agreement contains the entire understanding of
         the parties hereto regarding employment of Executive, and supersedes
         and replaces any prior agreement relating thereto. It may not be
         changed orally but only by an agreement in writing signed by the party
         against whom enforcement of any waiver, change, modification,
         extension, or discharge is sought.

                           WHEREAS, as of the day and date first above set
                  forth, the parties hereto execute this Agreement.

                  TARPON COAST BANCORP, INC.

                  By /s/ Mark O. Asperilla
                     ---------------------
                  Mark O. Asperilla
                  Chairman, Compensation Committee

                  TARPON COAST NATIONAL BANK

                  By  /s/ Mark O. Asperilla
                  -------------------------
                  Mark O. Asperilla
                  Chairman, Compensation Committee

                  LEWIS S. ALBERT

                  /s/ Lewis S. Albert
                  -------------------
                  Executive<PAGE>

EXHIBIT 10.3

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT, dated as of the 1st day of January, 2004, by and among
Tarpon Coast Bancorp, Inc., a Florida corporation (the "Holding Company"),
Tarpon Coast National Bank a national bank organized under the laws of the
United States (the "Bank") (collectively referred to herein as the "Employer"),
and Todd H. Katz (the "Executive").

                                   WITNESSETH:

         WHEREAS, the Boards of Directors of the Employer desire to employ
Executive to serve as Vice Chairman of the Board & President of the Holding
Company and the Bank; and

         WHEREAS, Executive is willing to become employed by the Holding Company
and the Bank as Vice Chairman and President in accordance with the terms and
conditions hereinafter set forth:

1.       Employment. Employer employs Executive and Executive accepts employment
         upon the terms and conditions set forth in this Agreement.

2.       Term. The term of employment of Executive under this Agreement shall be
         for twenty-four (24) months and commence on January 1, 2004. If this
         contract is not renewed or renegotiated prior to the end of its term,
         it will be treated as a termination without cause and compensated as
         indicated in paragraph 11.b.

3.       Compensation.

         For all services rendered by Executive, Executive shall be paid a
         minimum annual base salary of $182,000 per year. The minimum annual
         base salary will be paid by the Bank in equal semi-monthly installments
         during the term of this Agreement. Salary payments shall be subject to
         withholding and other applicable taxes.

4.       Title and Duties. Executive shall serve as Vice Chairman of the Board
         and President of the Holding Company and of the Bank. Executive shall
         run the day-to-day operating activities of the Holding Company and the
         Bank and assist the Chief Executive Officer in managing the Holding
         Company's and Bank's affairs; lead the Bank's efforts at community
         relations and business development; coordinate all marketing efforts;
         serve as internal legal counsel and human resources officer; and serve
         as compliance and CRA officer.

5.       Extent of Services. Executive shall devote his entire time, attention
         and energies to the business of Employer and shall not during the term
         of this Agreement be engaged in any other business activity which
         requires the attention or participation of Executive during normal
         business hours of Employer, recognition being given to the fact that
         Executive is expected on occasion to participate in client development
         after normal business hours. However, Executive may invest his assets
         in such form or manner as will not require his services in the
         operation of the affairs of the companies in which such investments are
         made, except that Executive shall not make an investment in the
         securities of any competing financial institution without the express
         approval of the Boards of Directors of the Employer. Executive shall
         notify Employer of any significant participation by him in any trade
         association or similar organization.

6.       Working Facilities. Executive shall receive from the Bank, such
         assistants, perquisites, facilities and services as are suitable to his
         position and appropriate for the performance of his duties on behalf of
         such entity. In addition, the Bank shall provide Executive membership
         in a country or social club (including dues, assessments and initiation
         fees) of his choice and Executive shall have the option at the
         termination of his employment for any reason to repurchase said
         membership from the Bank.

7.       Expenses. Executive may incur reasonable expenses for promoting the
         business of the Bank, including expenses for entertainment, travel, and
         similar items. Executive will be reimbursed by the Bank for all such
         expenses upon Executive's periodic presentation of an itemized account
         of such expenditures with receipts attached.

8.       Vacations. Executive shall be entitled each year to five (5) weeks of
         vacation time in accordance with the personnel policy established by
         the Bank's Board of Directors, during which time Executive's
         compensation shall be paid in full.

9.       Additional Compensation. As additional consideration paid to Executive,
         Executive shall be provided with and participate in all employee
         benefit plans offered by the Bank to all of its employees, including
         health, hospitalization, disability, life

<PAGE>

         insurance, travel insurance, bonus, retirement and savings plans. In
         addition, Executive shall be provided with a term life insurance policy
         of at least $200,000, which shall include an accidental death or
         dismemberment provision of two times the face amount of the policy.

10.      Change in Control of the Bank.

         a.       In the event of a "change in control" of the Employer, as
                  defined herein, and only to the extend permitted by applicable
                  statutes and regulations, Executive shall be entitled, for a
                  period of thirty (30) days from the date of closing of the
                  transaction effecting such change in control and at his
                  election, to give written notice to Employer of termination of
                  this Agreement and to receive a cash payment equal to one time
                  (100%) the compensation, including incentive compensation, if
                  any, received by Executive in the one-year period immediately
                  preceding the change in control. The severance payments
                  provided for in this Section 10.a. shall be paid in cash,
                  commencing not later than ten (10) days after the date of
                  notice of termination by Executive under this Section 10 or
                  ten (10) days after the date of closing of the transaction
                  effecting the change in control of the Employer, whichever is
                  later.

         b.       In addition, if Executive elects to terminate this Agreement
                  pursuant to this Section 10, Executive shall further be
                  entitled, in lieu of shares of Common Stock of the Holding
                  Company issuable upon exercise of stock options to which
                  Executive is entitled, an amount in cash or Common Stock of
                  the Holding Company or any other company into which shares of
                  the Holding Company are convertible (or any combination
                  thereof) as Executive shall in his election designate equal to
                  the excess of the fair market value of the Common Stock as of
                  the date of closing of the transaction effecting the change in
                  control over the per share exercise price of the options held
                  by Executive, times the number of shares of Common Stock
                  subject to such options (whether or not then fully
                  exercisable). The fair market value of the Common Stock shall
                  be equal to the higher of (i) the value as determined by the
                  Board of Directors of the Holding Company if there is no
                  organized trading market for the shares at the time such
                  determination is made, which per share value shall not be less
                  than 1.8 times the per share book value of the stock or (ii)
                  the closing price (or the average of the bid and asked prices
                  if no closing price is available) on any nationally recognized
                  securities exchange or association on which the Holding
                  Company's shares may be quoted or listed, or (iii) the highest
                  per share price actually paid for Common Stock of the Holding
                  Company in connection with any change in control of the
                  Employer. The severance payments provided for in this Section
                  10.b. shall be paid in full not later than ten (10) days after
                  the date of notice of termination by Executive under this
                  Section 10 or ten (10) days after the date of closing of the
                  transaction effecting the change in control of the Employer,
                  whichever is later.

         c.       Further, upon a "change in control", the Company and the Bank
                  shall cause the Key Man whole life insurance policy on
                  Executive in the face amount of $500,000, currently owned by
                  and maintained for the benefit of the Company and the Bank, to
                  be conveyed to Executive on a fully paid-up basis. The Company
                  and the Bank, in so doing, will relinquish any interest in
                  benefits under the policy. During the term of this agreement
                  and any extensions and renewals thereof, the Company and the
                  Bank shall continue to fund premiums in such amounts to ensure
                  the continuation of benefits under the policy. This conveyance
                  is not contingent upon the notice requirements set forth in
                  this Section 10.

         d.       For purposes of this Section 10, "change in control" of the
                  Employer shall mean:

                  1.       any transaction, whether by merger, consolidation,
                           asset sale, tender offer, reverse stock split, or
                           otherwise, which results in the acquisition or
                           beneficial ownership (as such term is defined under
                           rules and regulations promulgated under the
                           Securities Exchange Act of 1934, as amended) by any
                           person or entity or group of persons or entities
                           acting in concert, of 50% or more of the outstanding
                           shares of Common Stock of the Employer.

                  2.       the sale of all or substantially all of the assets of
                           the Employer; or

                  3.       the liquidation of the Employer.

         e.       If any payments to be made under this Section 10 constitute an
                  "Excess Parachute Payment" as that term is defined in Section
                  280(g) of the Internal Revenue Code, the payments shall be
                  reduced to the largest amount which would not constitute an
                  "Excess Parachute Payment."

<PAGE>

11.      Termination.

         a.       For Cause. This Agreement may be terminated by the Boards of
                  Directors of the Employer without notice and without further
                  obligations other than for monies already paid, for any of the
                  following reasons:

                  i.       failure of Executive to follow reasonable written
                           instructions or policies of the Boards of Directors
                           of the Employer;

                  ii.      gross negligence or willful misconduct of Executive
                           materially damaging to the business of the Employer
                           during the term of this Agreement, or at any time
                           while he was employed by the Employer prior to the
                           term of this Agreement, if not disclosed to the
                           Employer prior to the commencement of the term of
                           this Agreement; or

                  iii.     conviction of Executive during the term of this
                           Agreement of a crime involving breach of trust or
                           moral turpitude; or

                  iv.      at the request of any bank regulatory authority with
                           jurisdiction over the Employer.

                                    In the event that the Employer discharges
                  Executive alleging "cause" under this Section 11.a. and it is
                  subsequently determined judicially that the termination was
                  "without cause," then such discharge shall be deemed a
                  discharge without cause subject to the provisions of Section
                  11.b. hereof. In the event that the Employer discharges
                  Executive alleging "cause" under this Section 11.a, such
                  notice of discharge shall be accompanied by a written and
                  specific description of the circumstances alleging such
                  "cause". The termination of Executive for "cause" shall not
                  entitle the Employer to enforcement of the non-competition and
                  non-solicitation covenants contained in Section 13 hereof,
                  unless the employee purposely engages in conduct constituting
                  "cause" for the purpose of negating the non-competition
                  provision.

         b.       Without Cause.

                  i.       Notwithstanding the provisions of Section 2 of this
                           Agreement, the Employer may, upon thirty (30) days'
                           written notice to Executive, or by the giving of a
                           notice under Section 2 of this Agreement terminate
                           this Agreement without cause at any time during the
                           term of this Agreement upon the condition that
                           Executive shall be entitled, as liquidated damages in
                           lieu of all other claims, to the same severance
                           payments as provided in Section 10 hereof; provided
                           that for purposes of Section 10.b., the fair market
                           value of Common Stock shall be determined as of the
                           date of notice of termination of this Agreement given
                           by the Employer to Executive. The severance payments
                           provided for in this Section 11.b. shall commence not
                           later than thirty (30) days after the actual date of
                           termination of employment of Executive.

                  ii.      Executive may upon thirty (30) days' written notice
                           to Employer terminate his Agreement without cause at
                           any time during the term of this Agreement. In the
                           event of termination of this Agreement by Executive,
                           the Employer shall have no further obligation to
                           Executive than for monies paid.

12.      Death or Disability.

         a.       In the event of Executive's death during the term of this
                  Agreement, Employer shall pay to Executive's designated
                  beneficiary, or if Executive has failed to designate a
                  beneficiary, to his estate, an amount equal to Executive's
                  base salary pursuant to Section 3 hereof through the end of
                  the month in which Executive's death occurred plus an amount
                  equal to ninety (90) days salary. Employer shall also continue
                  to provide Executive's survivors with any benefits it provided
                  Executive for such additional ninety (90) day period.

         b.       In the event of Executive's disability during the term of this
                  Agreement, Employer shall pay to Executive an amount equal to
                  Executive's base salary pursuant to Section 3 hereof through
                  the end of the month in which Executive's disability occurred
                  plus an amount equal to six (6) months salary. Employer shall
                  also continue to provide Executive with any benefits it
                  provided Executive prior to his disability for a period of six
                  (6) months following his disability and shall continue to pay
                  the premiums on any life and disability policies provided by
                  the Employer for the benefit of Executive prior to his
                  disability.

         c.       The compensation set forth in Sections a. and b. of this
                  Section 12 shall be in lieu of any other benefits provided
                  hereunder, except that (i) in the event of a change in control
                  of the Employer as defined herein during the ninety (90) day
                  or six (6) month periods described in Sections a. and b. of
                  this Section 12, Executive, Executive's designated beneficiary

<PAGE>

                  or Executive's estate, as the case may be, shall be entitled
                  to the benefits of Section 10.b. hereof, and (ii) any benefit
                  payable pursuant to Section 3 shall be prorated and made
                  available to Executive or his beneficiary or estate in respect
                  of any period prior to his death or disability. and (iii) in
                  the event of Executive's disability, Employer shall continue
                  to pay the premiums on any life and disability policies
                  provided by the Employer for the benefit of Executive prior to
                  his disability. The Employer may maintain insurance on its
                  behalf to satisfy in whole or in part the obligations of this
                  Section 12.

         d.       Executive shall be deemed disabled if, by reason of physical
                  or mental impairment, he is incapable of performing his duties
                  hereunder for a period of 180 consecutive days.

13.      Notices. Any notice required or desired to be given under this
         Agreement shall be deemed given if in writing sent by certified mail to
         his residence in the case of Executive, or to its principal office in
         the case of Employer.

14.      Waiver of Breach. The waiver of Employer of a breach of any provision
         of this Agreement by Executive shall not operate or be construed as a
         waiver of any subsequent breach by Executive. No waiver shall be valid
         unless in writing and signed by an authorized officer of Employer.

15.      Assignment. Executive acknowledges that the services to be rendered by
         him are unique and personal. Accordingly, Executive may not assign any
         of his rights or delegate any of his duties or obligations under this
         Agreement. The rights and obligations of Executive under this Agreement
         shall inure to the benefit of and shall be binding upon the successors
         and assigns of Employer.

16.      Governing Law. This Agreement shall be governed and construed in
         accordance with the laws of the State of Florida.

17.      Entire Agreement. This Agreement contains the entire understanding of
         the parties hereto regarding employment of Executive, and supersedes
         and replaces any prior agreement relating thereto. It may not be
         changed orally but only by an agreement in writing signed by the party
         against whom enforcement of any waiver, change, modification,
         extension, or discharge is sought.

                           WHEREAS, as of the day and date first above set
                  forth, the parties hereto execute this Agreement.

                  TARPON COAST BANCORP, INC.

                  By /s/ Mark O. Asperilla
                     ---------------------
                  Mark O. Asperilla
                  Chairman, Compensation Committee

                  TARPON COAST NATIONAL BANK

                  By /s/ Mark O. Asperilla
                     ---------------------
                  Mark O. Asperilla
                  Chairman, Compensation Committee

                  TODD H. KATZ

                  /s/ Todd H. Katz
                  ----------------
                  Executive

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