Document:

EX-10.3 FORM OF STOCK OPTION AGREEMENT

 

EXHIBIT
10.3

UNITED COMMUNITY BANKS, INC.

AMENDED AND RESTATED

2000 KEY EMPLOYEE STOCK OPTION PLAN

STOCK OPTION AGREEMENT

(Nonqualified Stock Option — Executive Officer)

	 	 	 
	Optionee:

	 	                                                            
	 
	 	 
	Number of Shares:

	 	                                         Shares
	 
	 	 
	Option Exercise Price:

	 	$                          per Share
	 
	 	 
	Date of Grant:

	 	                                                            
	 
	 	 
	Vesting Schedule:

	 	Per attached Optionee Statement

referred to herein as “Exhibit B”
	 
	 	 
	Territory:
	 	 

     THIS
OPTION AGREEMENT (the “Agreement”) is entered into as of the ___ day of __________________,
____________, by and between UNITED COMMUNITY BANKS, INC., a Georgia corporation (the “Company”), and
the individual designated above (the “Optionee”).

     WHEREAS, the United Community Banks, Inc. Amended and Restated 2000 Key Employee Stock Option
Plan (the “Plan”) was adopted by the Company, effective March 15, 2007;

     WHEREAS, the Optionee performs valuable services for the Company, a Subsidiary or one of their
affiliates; and

     WHEREAS, the Board of Directors of the Company or the committee responsible for the
administration of the Plan has determined to grant the Option to the Optionee as provided herein;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto agree as follows:

1.   Grant of the Option.

     1.1 Option. An option to purchase shares of the Company’s Common Stock, par value
$1.00 per share (the “Shares”), is hereby granted to the Optionee (the “Option”).

     1.2 Number of Shares. The number of Shares that the Optionee can purchase upon
exercise of the Option is set forth above.

 

 

     1.3 Option Exercise Price. The price the Optionee must pay to exercise the Option
(the “Option Exercise Price”) is set forth above.

     1.4 Date of Grant. The date that the Option is granted (the “Date of Grant”) is set
forth above.

     1.5 Type of Option. The Option is intended to be a Nonqualified Stock Option. It is
not intended to qualify as an Incentive Stock Option within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended from time to time, or any successor provision thereto.

     1.6 Construction. This Agreement shall be construed in accordance and consistent
with, and subject to, the provisions of the Plan (the provisions of which are incorporated herein
by reference) and, except as otherwise expressly set forth herein, the capitalized terms used in
this Agreement shall have the same definitions as set forth in the Plan.

     1.7 Execution of Agreement. The Option is evidenced by this Agreement. If the
Optionee does not execute this Agreement within thirty (30) days of receiving the Agreement, the
Committee may in its discretion cancel the Option and this Agreement.

2.   Duration.

     The Option shall be exercisable to the extent and in the manner provided herein for a period
of ten (10) years from the Date of Grant (the “Exercise Term”); provided, however, that the
Exercise Term may end earlier as provided in Sections 5 and 13 hereof.

3.   Vesting.

     The Option shall vest and become exercisable in accordance with the vesting schedule specified
in Exhibit B. The Optionee may exercise the Option to the extent it is vested during the
Exercise Term, subject to any limitations on exercise contained in Section 7 hereof.

4.   Manner of Exercise and Payment.

     4.1 Delivery. To exercise the Option, the Optionee must deliver a completed copy of
the Option Exercise Form, attached hereto as Exhibit A and incorporated herein by reference, to the
address indicated on such Form or such other address designated by the Company from time to time.
The Committee may establish a minimum number of Shares (e.g., 100) for which the Option may be
exercised at a particular time. Contemporaneously with the delivery of the Option Exercise Form,
the Optionee shall tender to the Company the aggregate Option Exercise Price for the Shares as to
which the Optionee is exercising the Option by (i) cash, check, or wire transfer, (ii) delivering
or properly attesting to ownership of Shares with a Fair Market Value at the date of exercise equal
to the aggregate Option Exercise Price for the Shares as to which the Optionee is exercising the
Option, (iii) a broker-assisted cashless exercise transaction through a brokerage firm designated
by the Optionee, or (iv) or by such other method of payment as may be acceptable to the Committee
pursuant to the Plan. The Company shall deliver to the Optionee
certificates evidencing the Shares, as to which the Option was exercised within thirty (30) days

2

 

of
the date on which the Optionee delivers the Option Exercise Form and makes payment of the aggregate
Option Exercise Price to the Company or shall make such Shares available for electronic delivery in
the U.S. to an account the Optionee designates in writing within three (3) business days after the
date on which the Optionee delivers the Option Exercise Form and makes payment of the aggregate
Option Exercise Price to the Company, and in either case such Shares shall be free and clear of all
liens, security interests, pledges or other claims or charges, except those provided in this
Agreement or the Plan, or any other agreement affecting the Shares. Notwithstanding the foregoing,
if the Optionee is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, the
Optionee may not exercise any Option prior to the date that is six (6) months after the Date of
Grant unless the Optionee’s employment has terminated due to death, Disability, or Retirement after
the Date of Grant.

     4.2 No Rights as Shareholder. The Optionee shall not be deemed to be the holder of,
or to have any of the rights of a holder with respect to any Shares subject to the Option until (i)
the Option shall have been exercised pursuant to the terms of this Agreement and the Optionee shall
have paid the full purchase price for the number of Shares in respect of which the Option was
exercised, (ii) the Company shall have issued and delivered the Shares to the Optionee, and (iii)
the Optionee’s name shall have been entered as a shareholder of record on the books of the Company,
whereupon the Optionee shall have full voting and other ownership rights with respect to such
Shares, subject to divestment pursuant to Section 13.

5.   Termination of Employment.

     5.1 Termination of Employment for Cause. If the Optionee’s employment is terminated
by the Company for Cause, the outstanding Option shall expire immediately, and the Optionee’s right
to exercise the outstanding Option (whether or not vested) shall terminate immediately upon the
date of the Optionee’s termination of employment.

     5.2 Termination of Employment Without Cause or For Good Reason.

          (1) If the Optionee’s employment with the Company and any Subsidiary is terminated
involuntarily by the Company without Cause or is terminated by the Optionee for Good Reason (as
defined in subsection (2) below), the Option shall continue to vest in accordance with the original
vesting schedule set forth in this Agreement (just as if the Optionee had remained employed) and
shall remain exercisable at any time prior to the expiration of the term of the Option. In the
event of the Optionee’s death after a termination covered by this subsection 5.2, the Option shall
continue to vest and be exercisable in accordance with this subsection 5.2 as if the Optionee had
lived and the Option shall be exercisable by the persons described in Section 5.4.

          (2) For purposes of this Option, the Optionee shall be entitled to terminate his employment
with the Company for Good Reason in the event, without the Optionee’s express written consent, of
any one of the following acts by the Company, or failures by the Company to act, unless, in the
case of any act or failure to act described in paragraphs (i), (iii), or (iv) below,
such act or failure to act is corrected prior to the Optionee’s date of termination:

3

 

     (i) a material reduction in the Optionee’s responsibilities at the Company; or

     (ii) the required relocation of the Optionee’s employment to a location outside
of the market area of the Company; or

     (iii) a material reduction in the levels of coverage of the Optionee under the
Company’s director and officer liability insurance policy or indemnification
commitments; or

     (iv) a substantial reduction in the Optionee’s base salary, a material
reduction in his incentive compensation or the taking of any action by the Company
which would, directly or indirectly, materially reduce any of the benefits provided
to the Optionee under any of the Company’s pension, 401(k), deferred compensation,
life insurance, medical, accident or disability plans in which the Optionee is
participating.

     The Optionee’s right to terminate employment for Good Reason shall not be affected by the
Optionee’s incapacity due to physical or mental illness, except for a Disability as defined in the
Plan. The Optionee’s continued employment shall not constitute consent to, or a waiver of rights
with respect to, any act or failure to act constituting Good Reason hereunder.

     5.3 Termination of Employment Due to Retirement from the Company. If the Optionee’s
employment with the Company is terminated upon the Retirement of the Optionee, the outstanding
unvested portion of the Option shall continue to vest in accordance with the vesting schedule set
forth in this Agreement (just as if the Optionee had remained employed) and the Option (whether
vested or not vested as of the date of termination) shall remain exercisable at any time prior to
the expiration of the term of the Option.

     5.4 Termination of Employment Due to Death. If the Optionee dies while actively
employed by the Company, the outstanding unvested portion of the Option shall immediately vest, and
thereafter the Option shall remain exercisable at any time prior to its expiration date or for one
(1) year after the date of death, whichever period is shorter, (i) by such person(s) who have
acquired the Optionee’s rights by will or the laws of descent and distribution, or (ii) if no such
person in (i) exists, by the executor or representative of the Optionee’s estate.

     5.5 Termination of Employment by Disability. In the event the employment of the
Optionee is terminated by reason of Disability, the outstanding unvested portion of the Option
shall expire as of the date the Committee determines the definition of Disability to have been
satisfied by the Optionee, and the outstanding vested portion of the Option as of that date shall
remain exercisable at any time prior to its expiration date or for one (1) year after the
Committee’s determination of Disability, whichever period is shorter.

     5.6 Voluntary Termination of Employment. If the Optionee voluntarily terminates his
or her employment with the Company (except for Good Reason or upon Retirement), the outstanding
unvested portion of the Option shall expire as of the date of termination of

4

 

employment, and the
vested portion of the Option as of the date of termination of employment shall remain exercisable
at any time prior to its expiration date or for three (3) months after the date of termination of
employment, whichever period is shorter.

     5.7 Employment by Subsidiary. For purposes of this Section and Sections 8 and 13,
employment with the Company includes employment with any Subsidiary or service as a member of the
Board of Directors of the Company or a Subsidiary. A change of employment between the Company and
any Subsidiary or between Subsidiaries or a change in the nature of the Optionee’s service
relationship with the Company and the Subsidiaries (e.g., from employee to Director) without any
interruption in the Optionee’s provision of services is not a termination of employment under this
Agreement.

6.   Nontransferability.

     The Option shall not be transferable other than by will or by the laws of descent and
distribution and during the lifetime of the Optionee. The Option shall be exercisable only by the
Optionee except as provided in Section 5.4. Notwithstanding the foregoing, any portion or all of
the Option which is vested may be transferred, in whole or in part, without consideration, to a
Permitted Transferee. Appropriate evidence of any such transfer to the Permitted Transferees shall
be delivered to the Company on such forms as the Committee or Company shall prescribe and shall
comply with and indicate the Optionee’s (if during the lifetime of the Optionee) and the Permitted
Transferee’s agreement to abide by the Company’s then current stock option transfer guidelines. If
all or part of the Option is transferred to a Permitted Transferee, the Permitted Transferee shall
remain subject to all terms and conditions applicable to such Option prior to the transfer.

7.   Securities Laws Restrictions.

     The Option may not be exercised at any time unless, in the opinion of counsel for the Company,
the issuance and sale of the Shares issued upon such exercise is exempt from registration under the
Securities Act of 1933, as amended, or any other applicable federal or state securities law, rule
or regulation, or the Shares have been duly registered under such laws. The Company intends to
register the Shares issuable upon the exercise of the Option; however, until the Shares have been
registered under all applicable laws, the Optionee shall represent, warrant and agree, as a
condition to the exercise of any Option, that the Shares are being purchased for investment only
and without a view to any sale or distribution of such Shares and that such Shares shall not be
transferred or disposed of in any manner without registration under such laws, unless it is the
opinion of counsel for the Company that such a disposition is exempt from such registration. The
Optionee acknowledges that an appropriate legend giving notice of the foregoing restrictions may
appear conspicuously on all certificates evidencing the Shares issued upon the exercise of the
Option.

8.   No Right to Continued Employment.

     Nothing in this Agreement or the Plan shall be interpreted or construed to confer upon the
Optionee any right with respect to continuance of employment by the Company or any Subsidiary, nor
shall this Agreement or the Plan interfere in any way with the right of the Company or a Subsidiary
to terminate the Optionee’s employment at any time.

5

 

9.   Adjustments.

     In the event of a change in capitalization, the Committee shall make appropriate adjustments
in accordance with the provisions of Section 4.3 of the Plan. The adjustment shall be effective
and final, binding and conclusive for all purposes of the Plan and this Agreement.

10.   Withholding of Taxes.

     Prior to the issuance of Shares to the Optionee upon exercise of the Option, the Optionee
shall pay the federal, state, and local income taxes and other amounts as may be required by law to
be withheld (the “Withholding Taxes”) (if any) to the Company in cash or by check or wire transfer.
In satisfaction of the Withholding Taxes, the Optionee may make a written election (the “Tax
Election”) to satisfy such withholding obligation by a broker-assisted cashless exercise
transaction through a brokerage firm designated by the Optionee, by delivering Shares (that have
been owned by the Optionee for at least six (6) months or such other period as may be required by
the Committee) or by having the Company retain from the Shares to be delivered a number of Shares
having an aggregate Fair Market Value equal to the Withholding Taxes, provided that, if the
Optionee may be subject to liability under Section 16(b) of the Exchange Act, the election must
comply with the requirements applicable to Share transactions by the Optionee. The Company shall
have the right to deduct from any amounts payable to the Optionee for salary, bonuses or otherwise
an amount equal to Withholding Taxes with respect to the Option.

11.   Optionee Bound by the Plan.

     The Optionee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all
the terms and provisions thereof.

12.   Modification of Agreement.

     Except as expressly otherwise provided herein, this Agreement may not be modified, amended,
suspended or terminated, and any terms or conditions may not be waived, except by a written
instrument executed by the parties hereto.

13.   Cancellation and Rescission of Awards; Return of Profits.

     13.1
If, during his employment with the Company or at any time during
the one (1) year after the Date of Termination, the Optionee violates the
restrictive covenants set forth in Section 13.2 below, then the Committee shall, notwithstanding
any other provision in this Agreement to the contrary, (i) cancel any outstanding portion of the
Option (whether or not vested), and (ii) repurchase any Shares issued to the Optionee pursuant to
exercise of the Option during the period six (6) months prior to and
one (1) year after the Date of Termination at a per Share repurchase price equal to the Option Exercise Price, and
require the Optionee to pay to the Company any gain realized by Optionee from the sale of Shares
issued to the Optionee pursuant to exercise of the Option during such period.

     13.2 The Optionee will not directly or indirectly, individually, or on behalf of any Person
other than the Company or a Subsidiary:

6

 

          (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 Subsidiary or is at will;

          (iii) engage in the Company’s Business within the Territory or accept employment or engagement
within the Territory as a director, officer, executive, manager, or business consultant for any
Person engaging in the Company’s Business; or

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

The Optionee 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 Optionee further agrees
that, upon termination or expiration of employment with the Company for any reason whatsoever or at
any time, the Optionee 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 Optionee’s possession or control, relating in any way to the
Company’s Business, which at all times shall be the property of the Company.

     13.3 For purposes of this Section 13, 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, or other business or financial services
organization or entity.

7

 

          (ii) “Confidential Information” means information, without regard to form, relating to the
Company’s or any Subsidiary’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 Subsidiary by third parties that the Company
or any Subsidiary 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 Optionee serviced or solicited on behalf of
the Company or any Subsidiary, (2) whose dealings with the Company or any Subsidiary were
coordinated or supervised, in whole or in part, by the Optionee, or (3) about whom the Optionee
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 Optionee’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.

14.   Severability.

     Should any provision of this Agreement be held by a court of competent jurisdiction to be
unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be
affected by such holding and shall continue in full force in accordance with their terms.

15.   Governing Law.

     The validity, interpretation, construction and performance of this Agreement shall be governed
by the laws of the United States and the laws of the State of Georgia without giving effect to the
conflicts of laws principles thereof.

16.   Successors in Interest.

     This Agreement shall be binding upon, and inure to the benefit of, the Company and its
successors and assigns, and upon any person acquiring, whether by merger, consolidation,
reorganization, purchase of stock or assets, or otherwise, all or substantially all of the
Company’s assets and business. This Agreement shall inure to the benefit of the Optionee’s heirs
and legal representatives. All obligations imposed upon the Optionee and all rights granted to the
Company under this Agreement shall be final, binding and conclusive upon the Optionee’s heirs,
executors, administrators and successors.

8

 

17.   Entire Agreement.

     This Agreement and the Plan contain the entire agreement and understanding of the parties
hereto with respect to the subject matter contained herein and supersede all prior communications,
representations and negotiations in respect thereto.

18.   Resolution of Disputes.

     Any dispute or disagreement which may arise under, or as a result of, or in any way relate to,
the interpretation, construction or application of this Agreement and the Plan shall be determined
by the Committee. Any determination made by the Committee shall be final, binding and conclusive
on the Optionee and the Company and their successors, assigns, heirs, executors, administrators and
legal representatives for all purposes.

19.   Legal Construction.

     The legal construction and interpretation of this Agreement (including, but not limited to,
issues of gender, plural or singular, governing law and severability) shall be governed by the
provisions of Article 19 of the Plan.

[EXECUTION PAGE FOLLOWS]

9

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	UNITED COMMUNITY BANKS, INC.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     By signing below, the Optionee hereby accepts the Option subject to all its terms and
provisions and agrees to be bound by the terms and provisions of this Agreement and the Plan. The
Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations
of the Board of Directors of the Company, or the Compensation Committee or other Committee
responsible for the administration of the Plan, upon any questions arising under the Plan. The
Optionee authorizes the Company to withhold, in accordance with applicable law, from any
compensation payable to him or her, any taxes required to be withheld by federal, state, local or
foreign law as a result of the grant, existence or exercise of the Option, or subsequent sale of
the Shares.

	 	 	 	 	 
	 	OPTIONEE

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	 	 
	 

[EXHIBITS FOLLOW]

10

 

EXHIBIT A

OPTION EXERCISE FORM

     I,                     , do hereby exercise the Option with a Date of Grant of
                    ,            granted to me by the Option Agreement executed in connection therewith.
The number of Shares being purchased, the Exercise Price and the Total Option Exercise Price are
set forth below:

	 	 	 	 	 
	Number of Shares:

	 	 	 	                                Shares
	 
	 	 	 	 
	Option Exercise Price Per Share

	 	x
	 	$                                per Share
	 
	 	 	 	 
	Total Option Exercise Price:

	 	=
	 	$                               

The Total Option Exercise Price is included with this Form.

	 	 	 
	Date:                                                                       

	 	                                                                      
	 

	 	Signature

Send or deliver this Form with an original signature to

United Community Banks, Inc.

P.O. Box 398, 59 Highway 515

Blairsville, GA 30512

Attn:                                        

11EX-10.4 FORM OF RESTRICTED STOCK UNIT AWARD AGMT

 

EXHIBIT
10.4

UNITED COMMUNITY BANKS, INC.

AMENDED AND RESTATED

2000 KEY EMPLOYEE STOCK OPTION PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

(Executive Officer)

	 	 	 
	Grantee:

	 	                                                            
	 
	 	 
	Number of RSUs:

	 	                                         RSUs
	 
	 	 
	Date of Grant:

	 	                                                            
	 
	 	 
	Vesting Schedule:

	 	Per attached Statement referred to

herein as “Exhibit A”
	 
	 	 
	Territory:
	 	 

     THIS AGREEMENT (the “Agreement”) is entered into as of the ___ day of
__________________, ____________, by and between UNITED COMMUNITY BANKS, INC., a Georgia corporation (the
“Company”), and the individual designated above (the “Grantee”).

     WHEREAS, the Company maintains the United Community Banks, Inc. Amended and Restated 2000 Key
Employee Stock Option Plan (the “Plan”), and the Grantee has been selected by the Committee to
receive a Restricted Stock Unit Award under the Plan;

     NOW, THEREFORE, IT IS AGREED, by and between the Company and the Grantee, as follows:

1.    Award of Restricted Stock Units

     1.1 The Company hereby grants to the Grantee an award of Restricted Stock Units (“RSUs”) in
the amount set forth above, subject to, and in accordance with, the restrictions, terms, and
conditions set forth in this Agreement and the Plan. The grant date of this award of RSUs is set
forth above(the “Date of Grant”).

     1.2 This Agreement (including any appendices) shall be construed in accordance and consistent
with, and subject to, the provisions of the Plan (the provisions of which are incorporated herein
by reference) and, except as otherwise expressly set forth herein, the capitalized terms used in
this Agreement shall have the same definitions as set forth in the Plan.

     1.3 This Award is conditioned on the Grantee’s execution of this Agreement. If this Agreement
is not executed by the Grantee and returned to the Company within two days of the Date of Grant, it
may be canceled by the Committee resulting in the immediate forfeiture of all RSUs.

 

 

2.   Vesting and Termination of Employment

     2.1 Vesting. Subject to Sections 2.2 through 2.4 below and Section 8, if the Grantee
remains employed by the Company, the RSUs shall vest as provided for in Exhibit B. Each date on
which the RSUs vest is hereinafter referred to as a “Vesting Date”.

     Except as otherwise provided below, on the Vesting Date, a number of Shares equal to the
number of vested RSUs shall be issued to the Grantee free and clear of all restrictions imposed by
this Agreement (except those imposed by Section 3.3 below). The Company shall transfer such Shares
to an unrestricted account in the name of the Grantee as soon as practical after the Vesting Date.
For purposes of this Agreement, employment with a Subsidiary of the Company or service as a member
of the Board of Directors of the Company or a Subsidiary shall be considered employment with the
Company.

     2.2 Termination for Cause. If the Grantee’s employment is terminated by the Company
for Cause (as defined in the Plan), the unvested RSUs shall be forfeited immediately as of the date
of termination of employment.

     2.3 Termination of Employment Without Cause or For Good Reason.

          (1) If the Grantee’s employment with the Company is terminated involuntarily by the Company
without Cause (as defined in the Plan) or is terminated by the Grantee for Good Reason (as defined
in subsection (2) below), the unvested RSUs shall continue to vest in accordance with the original
vesting schedule set forth in Exhibit A (just as if the Grantee had remained employed). In the
event of the Grantee’s death after a termination covered by this Section 2.3, the unvested RSUs
shall continue to vest as if the Grantee had lived and upon vesting, a number of Shares equal to
the number of vested RSUs shall be transferred to the Grantee’s surviving spouse or, if none, to
his estate.

          (2) For purposes of this Agreement, the Optionee shall be entitled to terminate his or her
employment with the Company for Good Reason in the event of, without the Grantee’s express written
consent, any one of the following acts by the Company, or failures by the Company to act, unless,
in the case of any act or failure to act described in paragraphs (i), (iii), or (iv) below, such
act or failure to act is corrected prior to the Grantee’s date of termination:

     (i) a material reduction in the Grantee’s responsibilities at the Company; or

     (ii) the required relocation of the Grantee’s employment to a location outside
of the market area of the Company; or

     (iii) a material reduction in the levels of coverage of the Grantee under the
Company’s director and officer liability insurance policy or indemnification
commitments; or

2

 

     (iv) a substantial reduction in the Grantee’s base salary, a material reduction
in his incentive compensation or the taking of any action by the Company which
would, directly or indirectly, materially reduce any of the benefits provided to the
Grantee under any of the Company’s pension, 401(k), deferred compensation, life
insurance, medical, accident or disability plans in which the Grantee is
participating.

     The Grantee’s right to terminate employment for Good Reason shall not be affected by the
Grantee’s incapacity due to physical or mental illness, except for a Disability as defined in the
Plan. The Grantee’s continued employment shall not constitute consent to, or a waiver of rights
with respect to, any act or failure to act constituting Good Reason hereunder.

     2.4 Termination of Employment Due to Retirement from the Company. If the Grantee’s
employment with the Company is terminated due to Retirement (as defined in the Plan), the unvested
RSUs shall continue to vest in accordance with the vesting schedule set forth in Exhibit A (just as
if the Grantee had remained employed). In the event of the Grantee’s death after Retirement, the
unvested RSUs shall continue to vest as if the Grantee had lived and upon vesting, a number of
Shares equal to the number of vested RSUs shall be transferred to the Grantee’s surviving spouse
or, if none, to his estate.

     2.5 Termination of Employment Due to Death. If the Grantee’s employment is terminated
by the Company as a result of death, the unvested RSUs shall immediately vest, and a number of
Shares equal to the number of vested RSUs shall be transferred to the Grantee’s surviving spouse
or, if none, to his estate.

     2.6 Termination of Employment for Other Reasons. If the Grantee’s employment is
terminated by the Company as a result of Disability, or the Grantee voluntarily terminates his or
her employment (except for Good Reason or upon Retirement), the outstanding unvested RSUs shall
immediately be forfeited as of the date of termination of employment.

     2.7 Nontransferability. The RSUs may not be sold, assigned, transferred, pledged, or
otherwise encumbered prior to the date the Grantee becomes vested in the RSUs.

3.   Change in Capitalization; Deferral Rights

     3.1 During the period the RSUs are not vested, the Grantee shall be credited with dividend
equivalents or similar distributions declared on such RSUs in the manner determined by the
Committee.

     3.2 In the event of a change in capitalization, the Committee shall make appropriate
adjustments in accordance with Section 4.3 of the Plan to reflect the change in capitalization,
provided that any such additional Shares or additional or different shares or securities reflected
in any such adjustment shall remain subject to the restrictions in this Agreement.

     3.3 The Grantee represents and warrants that he is acquiring the Shares under this Agreement
for investment purposes only, and not with a view to distribution thereof. The

3

 

Grantee is aware
that the Shares may not be registered under the federal or any state securities laws and that in
that event, in addition to the other restrictions on the Shares, they will not be able to be
transferred unless an exemption from registration is available or the Shares are registered. By
making this award of RSUs, the Company is not undertaking any obligation to register the RSUs under
any federal or state securities laws.

     3.4 To the extent the Grantee is eligible to participate in a deferred compensation plan
established for such purpose, the Grantee may elect to defer delivery of the Shares that would
otherwise be due by virtue of the lapse or waiver of the vesting requirements as set forth in
Section 2. If such deferral election is made, the Committee shall, in its sole discretion,
establish the rules and procedures for such deferrals.

4.   No Right to Continued Employment

     Nothing in this Agreement or the Plan shall be interpreted or construed to confer upon the
Grantee any right with respect to continuance of employment by the Company or a Subsidiary, nor
shall this Agreement or the Plan interfere in any way with the right of the Company or a Subsidiary
to terminate the Grantee’s employment at any time.

5.   Taxes and Withholding

     The Grantee shall be responsible for all federal, state, and local income taxes payable with
respect to this award of RSUs and any dividends paid on unvested RSUs. The Company and the Grantee
agree to report the value of the RSUs in a consistent manner for federal income tax purposes. The
Company shall have the right to retain and withhold from any payment of Shares or cash the amount
of taxes required by any government to be withheld or otherwise deducted and paid with respect to
such payment. At its discretion, the Company may require the Grantee to reimburse the Company for
any such taxes required to be withheld and may withhold any distribution in whole or in part until
the Company is so reimbursed. In lieu thereof, the Company shall have the right to withhold from
any other cash amounts due to the Grantee an amount equal to such taxes required to be withheld or
withhold and cancel (in whole or in part) a number of Shares having a market value not less than
the amount of such taxes.

6.   The Grantee Bound By The Plan

     The Grantee hereby acknowledges receipt of a copy of the Plan and the prospectus for the Plan,
and agrees to be bound by all the terms and provisions thereof.

7.   Modification of Agreement; Severability

     This Agreement may be modified, amended, suspended, or terminated, and any terms or conditions
may be waived, but only by a written instrument executed by the parties hereto. Should any
provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or
invalid for any reason, the remaining provisions of this Agreement shall not be affected by such
holding and shall continue in full force in accordance with their terms.

4

 

8.   Cancellation and Rescission of Award; Return of Shares

     8.1 If, during his employment with the Company or at any time during the one (1) year after the Date of Termination, the Grantee violates the restrictive
covenants set forth in Section 8.2 below, then the Committee shall, notwithstanding any other
provision in this Agreement to the contrary, (i) cancel the outstanding RSUs that are not yet
vested or with respect to which Shares have not yet been issued to the Grantee, and (ii) require
the Grantee to return to the Company any Shares issued to the Grantee pursuant to vesting of the
RSUs during the period six (6) months prior to and on (1) year after
the Date of Termination, and require the Grantee to pay to the Company the then current value of any Shares issued to
the Grantee pursuant to the RSUs during such period.

     8.2 The Grantee will not directly or indirectly, individually, or on behalf of any Person
other than the Company or a Subsidiary:

     (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 Subsidiary or is at will;

     (iii) engage in the Company’s Business within the Territory or accept employment or
engagement within the Territory as a director, officer, executive, manager, or business
consultant for any Person engaging in the Company’s Business; or

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

The Grantee 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 Grantee further agrees
that, upon termination or expiration of employment with the Company for any reason whatsoever or at
any time, the Grantee 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 Grantee’s possession or control, relating in any way to the Company’s
Business, which at all times shall be the property of the Company.

     8.3 For purposes of this Section 8, 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, or other business or financial
services organization or entity.

5

 

     (ii) “Confidential Information” means information, without regard to form, relating to
the Company’s or any Subsidiary’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 Subsidiary by
third parties that the Company or any Subsidiary 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 Grantee serviced or solicited on
behalf of the Company or any Subsidiary, (2) whose dealings with the Company or any
Subsidiary were coordinated or supervised, in whole or in part, by the Grantee, or (3) about
whom the Grantee 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 Grantee’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.

9.   Governing Law

     The validity, interpretation, construction, and performance of this Agreement shall be
governed by the laws of the state of Georgia without giving effect to the conflicts of laws
principles thereof.

10.   Successors in Interest

     This Agreement shall inure to the benefit of, and be binding upon, the Company and its
successors and assigns, whether by merger, consolidation, reorganization, sale of assets, or
otherwise. This Agreement shall inure to the benefit of the Grantee’s legal representatives. All
obligations imposed upon the Grantee and all rights granted to the Company under this Agreement
shall be final, binding, and conclusive upon the Grantee’s heirs, executors, administrators, and
successors.

11.   Entire Agreement

     This Agreement and the Plan contain the entire agreement and understanding of the parties hereto
with respect to the subject matter contained herein and supersede all prior communications,
representations and negotiations in respect thereto.

6

 

12.   Resolution of Disputes

     Any dispute or disagreement which may arise under, or as a result of, or in any way relate to
the interpretation, construction, or application of this Agreement and the Plan shall be determined
by the Committee. Any determination made hereunder shall be final, binding, and conclusive on the
Grantee and the Company and their successors, assigns, heirs, executors, administrators and legal
representatives for all purposes.

13.   Pronouns; Including

     Wherever appropriate in this Agreement, personal pronouns shall be deemed to include the other
genders and the singular to include the plural. Wherever used in this Agreement, the term
“including” means “including, without limitation.”

[EXECUTION PAGE FOLLOWS]

7

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	UNITED COMMUNITY BANKS, INC.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     By signing below, the Grantee hereby accepts the RSU grant subject to all its terms and
provisions and agrees to be bound by the terms and provisions of this Agreement and the Plan. The
Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations
of the Board of Directors of the Company, or the Compensation Committee or other Committee
responsible for the administration of the Plan, upon any questions arising under the Plan.

	 	 	 	 	 
	 	GRANTEE

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	 	 
	 

[EXHIBITS FOLLOW]

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]