Document:

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                                                                    EXHIBIT 4.4

                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

                                   SECTION 1.

                                    PURPOSE

         1.1 The purpose of the FLORIDA COASTLINE COMMUNITY GROUP, INC. OUTSIDE
DIRECTOR STOCK OPTION PLAN (the "Outside Director Plan") is to foster and
promote the long-term financial success of the Company and materially increase
shareholder value by enabling the Company to attract and retain the services of
outstanding outside directors whose judgment, interest, and special effort is
essential to the successful conduct of its operations.

                                   SECTION 2.

                                  DEFINITIONS

         2.1. DEFINITIONS. Whenever used herein, the following terms shall have
the respective meanings set forth below:

         (a) "Act" means the Securities Exchange Act of 1934, as amended.

         (b) "Annual Award" means an Option for 500 shares of Stock for each
Outside Director of the Company.

         (c) "Bank" means the FLORIDA COASTLINE NATIONAL BANK, a National
banking corporation wholly owned by the Company.

         (d) "Board" means the Board of Directors of the Company.

         (e) "Company" means FLORIDA COASTLINE COMMUNITY GROUP, INC., a Florida
corporation, and any successor thereto.

         (f) "Disability" means total disability, which if the Outside Director
were an employee of the Company, would be treated as a total disability under
the terms of the Company's long-term disability plan for employees, as in
effect from time to time.

         (g) "Fair Market Value" means the closing "asked" price of the shares
of the Stock in the over-the-counter market on the day on which such value is
to be determined or, if the "asked" price is not available, the last sales
price on such day or, if not traded, the next preceding day when traded or
reported by any national quotation service.

         (h) "Option" means the right to purchase Stock at a stated price for a
specified period of time. The term Option shall mean the grant of Annual
Awards.

         (i) "Outside Director" means any member of the Board who is not an
employee of the Company or any of its subsidiaries.

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                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

         (j) "Stock" means the common stock of the Company, par value $0.01 per
share.

         2.2. GENDER AND NUMBER. Except when otherwise indicated by the
context, words in the masculine gender used in the Outside Director Plan shall
include the feminine gender, the singular shall include the plural, and the
plural shall include the singular.

                                   SECTION 3.

                         ELIGIBILITY AND PARTICIPATION

         Each Outside Director may participate in the Outside Director Plan.

                                   SECTION 4.

                     STOCK SUBJECT TO OUTSIDE DIRECTOR PLAN

         4.1. NUMBER. The total number of shares of Stock subject to Options
granted under the Outside Director Plan may not exceed 50,000 shares, subject
to adjustment pursuant to Section 4.3. The shares to be delivered under the
Outside Director Plan may consist, in whole or in part, of treasury Stock or
authorized but unissued Stock, not reserved for any other purpose.

         4.2. CANCELED, TERMINATED, OR FORFEITED AWARDS. Any shares of Stock
subject to an Option which for any reason is canceled or terminated without the
issuance of any Stock may again be subjected to an Option under the Outside
Director Plan.

         4.3. ADJUSTMENT IN CAPITALIZATION. In the event of any stock dividend
or stock split, recapitalization (including, without limitation, the payment of
an extraordinary dividend), merger, consolidation, combination spin-off,
distribution of assets to stockholders, exchange of shares, or other similar
corporate change, the aggregate number of shares of Stock available for
issuance hereunder or subject to Options and the respective exercise prices of
outstanding Options shall be appropriately adjusted by the Board, whose
determination shall be conclusive; provided, however, that any fractional
shares resulting from any such adjustment shall be disregarded.

                                   SECTION 5.

                                 STOCK OPTIONS

         5.1 GRANT OF OPTIONS.

         (a) ANNUAL AWARDS. During each calendar year during the term of the
outside Director Plan, each Outside Director shall be granted an Annual Award
on the thirty-first

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                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

business day following the annual meeting of the Company's stockholders held
subsequent to the opening of the Bank.

         (b) OPTION AGREEMENT. Each Option shall be evidenced by an Option
agreement that shall specify the exercise price, the term of the Option, and
the number of shares of Stock to which the Option pertains.

         5.2. OPTION PRICE. Options granted pursuant to Section 5.1(a) as an
Annual Award shall have an exercise price equal to the Fair Market Value of a
share of Stock on the date the Option is granted, multiplied by the number of
shares of Stock the Option holder elects to acquire pursuant to the Option.

         5.3. EXERCISE OF OPTIONS. Options awarded under the Outside Director
Plan shall be fully and immediately exercisable in whole or in part. Each
Option shall be exercisable for ten (10) years after the date on which it is
granted.

         5.4. PAYMENT. Options may be exercised by written notice of exercise
accompanied by payment in full of the Option price in cash or cash equivalents,
including by personal check, or with a partial or full payment in Stock already
owned by the Outside Director, valued at Fair Market Value on the date of
exercise. As soon as practicable after receipt of such written exercise notice
and full payment of the Option price, the Company shall deliver to the Outside
Director a certificate or certificates representing the acquired shares of
Stock.

                                   SECTION 6.

                      TERMINATION OF DUTIES AS A DIRECTOR

         6.1 TERMINATION OF DUTIES DUE TO RETIREMENT. In the event an Outside
Director's membership on the Board ceases on or after he has attained age
seventy (70), any Options then held by such Outside Director may be exercised
at any time prior to the expiration of the term of the Options within three (3)
years following his cessation of Board membership, whichever period is shorter.

         6.2. TERMINATION OF DUTIES DUE TO DEATH OR DISABILITY. In the event an
Outside Director's membership on the Board ceases by reason of his death or
Disability, any Options then held by such Outside Director may be exercised by
the Outside Director or his legal representative at any time prior to the
expiration date of the terms of the Options or within one (1) year following
his cessation of Board membership, whichever period is shorter.

         6.3. TERMINATION OF DUTIES FOR ANY OTHER REASON. In the event an
Outside Director's membership on the Board ceases for any reason other than one
described in

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                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

Section 6.1 or 6.2, any Options then held by such Outside Director shall be
canceled within thirty (30) days following his cessation of Board membership.

         6.4. SERVICES AS AN EMPLOYEE. If an Outside Director becomes an
employee of the Company or any of its subsidiaries, the Outside Director shall
be treated as continuing in service for purposes of this Outside Director Plan,
but shall not be eligible to receive future grants while an employee. If the
Outside Director's services as an employee terminate without his again becoming
an Outside Director, the provisions of this Section 6 shall apply as though
such termination of employment were the termination of the Outside Director's
membership on the Board.

                                   SECTION 7.

                    AMENDMENT, MODIFICATION, AND TERMINATION
                            OF OUTSIDE DIRECTOR PLAN

         The Board at any time may terminate or suspend the Outside Director
Plan, and from time to time may amend or modify the Outside Director Plan, but
any amendment that materially increases the benefits to be provided to Outside
Directors shall be subject to approval by the Company's stockholders. No
amendment, modification, or termination of the Outside Director Plan shall in
any manner adversely affect any Option theretofore granted under the Outside
Director Plan, without the consent of the Outside Director.

                                   SECTION 8.

                            MISCELLANEOUS PROVISIONS

         8.1 NONTRANSFERABILITY OF AWARDS. No Options may be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated, other than by will
or by the laws of descent and distribution. All rights with respect to Options
granted to an Outside Director shall be exercisable during his lifetime only by
him.

         8.2 BENEFICIARY DESIGNATION. Each Outside Director may from time to
time name any beneficiary or beneficiaries (who may be named contingently or
successively) by whom any Option granted under the Outside Director Plan is to
be exercised in case of his death. Each designation will revoke all prior
designations by such Outside Director and will be effective only when filed by
the Outside Director in writing with the Secretary of the Company during his
lifetime. In the absence of any such designation, Options outstanding at the
time of an Outside Director's death shall be exercised by the outside
Director's surviving spouse, if any, or otherwise by his estate.

         8.3 NO GUARANTEE OF MEMBERSHIP. Nothing in the Outside Director Plan
shall confer upon an Outside Director the right to remain a member of the
Board.

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                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

         8.4 REQUIREMENTS OF LAW. The Outside Director Plan, the granting of
Options and the issuance of shares of Stock upon the exercise of Options shall
be subject to all applicable laws, rules, and regulations, and to such
approvals by any governmental agencies or national securities exchanges as may
be required. The Company shall not be required to issue or deliver any
certificates for shares of Stock prior to (a) the listing of such shares on any
stock exchange on which the Stock may then be listed; (b) the completion of any
registration or qualification of such shares under any Federal or state law, or
any ruling or regulation of any government body which the Company shall, in its
sole discretion, determine to be necessary or advisable; and (c) payment of the
required withholding taxes by the holder of the Option. No holder of any Option
shall have any right to require the Company to register or qualify any shares
of Stock subject to any option under any state or Federal law, rule or
regulation.

         8.5. ADMINISTRATION. The outside Director Plan shall, to the maximum
extent possible, be self-effectuating. Any determinations necessary or
advisable for the administration and interpretation of the Outside Director
Plan in order to carry out its provisions and purposes shall be made by the
Board of Directors of the Company or by a duly authorized Committee thereof
which shall not include any Outside Director or an administrator duly appointed
by the Board of Directors which administrator shall not be an outside Director.

         8.6. TERM OF OUTSIDE DIRECTOR PLAN. The outside Director Plan shall be
effective upon its adoption by the Board, subject to approval by the Company's
stockholders at their next annual meeting. The Outside Director Plan shall
continue in effect, unless sooner terminated pursuant to Section 7, until the
tenth anniversary of the date on which it is adopted by the Board.

         8.7. GOVERNING LAW. The Outside Director Plan, and all agreements
hereunder, shall be construed in accordance with and governed by the laws of
the State of Florida.

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                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

TO:    Grantees of Options to Outside Directors

GRANT DATE:       ______________

         Florida Coastline Community Group, Inc. has made grants of options to
purchase the Common Stock of Florida Coastline Community Group, Inc. pursuant
to its Outside Directors Stock Option Plan to members of the Board of Directors
who are not employees of the Company. Due to the fact that outside directors
are not employees of the Company, it is NOT intended that the grant of these
options will allow the same favorable income tax treatment as would Incentive
Stock Options.

         It is the Company's intention that these options be granted to
purchase Common Stock of the Company at an exercise price no less than the fair
market value of the Common Stock of the Company on the date of the grant.
Accordingly, the exercise price has been established at $______, such price not
being less than the actual fair market value of the stock of the Company as of
the date of the grant, _______________.

         The taxation of non-statutory stock options is determined, in part, by
reference to Section 83 of the Internal Revenue Code of 1986 as amended (the
"Code"). Code Section 83 generally provides that property transferred in
connection with services is taxable to the recipient in the first taxable year
such property is freely transferable by the recipient or is no longer subject
to a substantial risk of forfeiture. Subsection (e)(3) of Code Section 83,
however, provides that the general rule of Section 83 shall not apply to the
transfer of an option "without a readily ascertainable fair market value."
Under applicable Treasury Regulations, the options granted under the Outside
Directors Stock Option Plan would be deemed to not have a "readily
ascertainable fair market value."

         Applicable Treasury Regulations provide that at the grant of the
option, each director will not be deemed to have recognized any taxable income
and a taxable event shall not have occurred. Rather, at the time each director
elects to EXERCISE an option, the taxation of the exercise will be determined
in accordance with the rules of Code Section 83. Since, upon EXERCISE of the
options, the stock of the Company received by the director will not be subject
to a substantial risk of forfeiture, the exercise of the option can be expected
to give rise to income at that time equal to the difference between the option
price and the stock's fair market value on that (exercise) date.

         Thus, under present law, you can expect to incur an income tax impact
at the time you exercise your options and purchase stock.

         The foregoing description is not intended as a complete description of
the tax consequences of the Option Plan.

         Please consult your tax advisor for further information and any
questions as to the specific tax issues of the option in your case.

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                    FLORIDA COASTLINE COMMUNITY GROUP, INC.
                       OUTSIDE DIRECTOR STOCK OPTION PLAN

                                                                      EXHIBIT B

Florida Coastline Community Group, Inc.
Attn:  Hans C. Mueller, Chief Executive Officer
8720 North Kendall Drive
Miami, Florida 33176

                          NOTICE OF EXERCISE OF OPTION
                                OUTSIDE DIRECTOR

         I hereby elect to purchase ______ shares of Common Stock of FLORIDA
COASTLINE COMMUNITY GROUP, INC. (the "Company") at a price of $____________ per
share, in accordance with that certain Non-Qualified Outside Director Stock
Option Agreement dated________________, between the Company and myself. For
this purpose, I enclosed herewith my check in the amount of $___________ in
full payment.

         I understand that the Shares to be issued may not be registered under
the Securities Act of 1933 or under Florida law, in which event the Shares will
be offered and issued in reliance upon one or more exemptions so afforded, and
at such time or times as shall be allowable thereunder.

         I hereby confirm my representations under the aforementioned
Non-Qualified Outside Director Stock Option Agreement, including that the
shares of Common Stock are being acquired in good faith for investment and not
with a view to, or for resale or in connection with, any distribution thereof.
I represent that such shares are intended to be held indefinitely and will not
be sold, transferred or otherwise disposed of in the absence of an effective
registration statement covering such shares unless in the opinion of counsel
(which opinion in form and substance and counsel shall be satisfactory to the
Company), such registration is not required.

         I hereby acknowledge receipt of (i) the Company's most recent annual
financial statements, (ii) the Company's most recent internal financial
statements and (iii) a brief description of the Company's capital stock.

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Date

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                                                      Signature<PAGE>   1
                                                                    EXHIBIT 4.5

                           INDEMNIFICATION AGREEMENT

         This AGREEMENT, made and entered into this 8TH day of March, 2001, by
and between FLORIDA COASTLINE COMMUNITY GROUP, INC., a Florida chartered
corporate organization (hereinafter called the "Company") and
___________________ (hereinafter called "Indemnitee").

                                  WITNESSETH:

         WHEREAS, there is a general awareness that competent and experienced
persons are becoming more reluctant to serve as directors or officers of a
corporation unless they are protected by comprehensive insurance or
indemnification, especially since shareholder and derivative lawsuits against
corporations, their directors and officers for line-of-duty decisions and
actions have increased in number in recent years for damages in amounts which
have no reasonable or logical relationship to the amount of compensation
received by the directors or officers from the corporation; and

         WHEREAS, the vagaries of "public policy" and the interpretations of
ambiguous statutes, regulations and by-laws are too uncertain to provide
corporate officers and directors with adequate, reliable knowledge of legal
risks to which they may be exposed with these indeterminables multiplied for
officers and directors of corporations such as the COMPANY, engaged in the
conduct of the financial services business; and

         WHEREAS, damages sought by class action plaintiffs and derivative
action plaintiffs in some cases are brought or maintained whether or not the
case is meritorious, and the cost of defending them is enormous with few
individual directors and officers having the resources to sustain such legal
costs, not to mention the risk of a judgment even in cases where the defendant
was neither culpable nor profited personally to the detriment of the
corporation; and

         WHEREAS, the Board of Directors, based upon their experience as
business managers, have concluded that the continuation of present trends in
litigation against corporate directors and officers will inevitably result in
less effective direction and supervision of the COMPANY and its subsidiaries'
and affiliates' business affairs and the operation of their facilities, as
opposed to aggressive supervision and management in the search for safety,
soundness and profits, and the Board deems such consequences to be so
detrimental to the best interests of the COMPANY's shareholders that it has
concluded that its directors and officers should be provided with maximum
protection against inordinate risks in order to insure that the most capable
persons otherwise available will be attracted to such positions; therefore,
said directors have further concluded that it is not only reasonable and
prudent but necessary for the COMPANY contractually to obligate itself to
indemnify in a reasonable and adequate manner its directors and officers and
the directors and officers of its affiliates and to assume for itself maximum
liability for expenses and damages in connection with claims lodged against
them for their line-of-duty decisions and actions; and

         WHEREAS, Chapter 607 of the Florida Business Corporation Act, under
which the COMPANY is organized, empowers corporations to indemnify persons
serving as a director, officer, employee or agent of the COMPANY or a person
who serves at the request of the COMPANY as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise, and further specifies that the
indemnification set forth in said chapter

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shall not be deemed exclusive of any other rights to which those seeking
indemnification may be entitled under any bylaw, agreement, vote of
stockholders or disinterested directors or otherwise, and said Chapter further
empowers to a corporation to purchase and maintain insurance on behalf of such
persons against any liability asserted against him or her and incurred by him
or her in any such capacity or arising out of his or her status as such,
whether or not the corporation would have the power to indemnify him or her
against such liability under the provisions of said laws; and

         WHEREAS, the COMPANY initiated an investigation to determine the type
of insurance available, the nature and extent of the coverage provided and the
cost thereof to the COMPANY to insure each director and officer of the COMPANY
and of its affiliates against expenses (including attorneys' fees) judgments,
fines and amounts paid in settlement actually and reasonably incurred by him or
her in connection with any action, suit or proceeding with which he or she
might become threatened or made a party by reason of such status and/or such
person's line-of-duty decisions or actions; and, upon receiving such
information the directors of the COMPANY concluded that, at present, it would
be in the best interests of its shareholders for the COMPANY to purchase and
maintain such insurance as the COMPANY has in fact purchased and that its
shareholders' interests would be best served by the COMPANY's additionally
contracting with such directors and officers as it should determine to
indemnify such persons and thereby provide additional protection to such of the
COMPANY's officers and directors against such potential liabilities; and

         WHEREAS, the COMPANY desires to have INDEMNITEE serve or continue to
serve as a director, officer, employee or agent of the COMPANY or of any other
corporation, subsidiary, partnership, joint venture, employee benefit plan, or
trust or other enterprise of which he or she has been or is serving, or may
serve, at the request, for the convenience of or to represent the interests of
the COMPANY and to protect the same from undue claims by reason thereof, and
INDEMNITEE desires to serve or to continue to serve (provided that he or she is
furnished the indemnity provided for hereinafter), in one or more of such
capacities.

         NOW, THEREFORE, in consideration of the premises and the covenants
contained herein, the COMPANY and INDEMNITEE do hereby covenant and agree as
follows:

         1. AGREEMENT TO SERVE. INDEMNITEE will serve and/or continue to serve,
at the will of the COMPANY or under separate contract, if such exists, the
COMPANY and such Affiliates of the COMPANY as INDEMNITEE shall from time to
time agree, as a director, officer, employee and agent thereof, faithfully and
to the best of his or her ability so long as he or she is duly elected and
qualified in accordance with the provisions of the Bylaws thereof or until such
time as he or she tenders his or her resignation in writing.

         2. INDEMNIFICATION. The COMPANY shall, and does hereby agree to,
indemnify and hold harmless in all respects INDEMNITEE:

                  (a) If INDEMNITEE is a person who was or is a party or is
threatened to be made a party to, a person named in, or a witness named for,
any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative, legislative or investigative in nature (other

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than an action by or in the right of the COMPANY) by reason of the fact that he
or she is or was a director, officer, employee or agent of the COMPANY or is or
was serving at the request of the COMPANY as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise, including any employee benefit plan, ("Affiliate") or by reason of
anything actually or allegedly done or not done by him or her in any such
capacity, against any and all liabilities, claims, assessments, judgments,
fines, penalties and amounts paid in settlement thereof, as well as any and all
costs, fees and expenses (including attorneys' fees) actually and reasonably
incurred by him or her in connection with the investigation, defense or appeal
of such action, suit or proceeding or in the defense of any claim, issue or
matter described therein;

                  (b) If INDEMNITEE is a person who was or is a party or is
threatened to be made a party to, a person named in, or a witness named for,
any threatened, pending or completed action, suit or proceeding by or in the
right of the COMPANY to procure a judgment in its favor by reason of the fact
that he or she is or was a director, officer, employee or agent of the COMPANY
or is or was serving at the request of the COMPANY as a director, officer,
employee or agent of any Affiliate, or by reason of anything actually or
allegedly done or not done by him or her in any such capacity, against any and
all liabilities, claims, assessments, judgments, fines, penalties and amounts
paid in settlement thereof, as well as any and all costs, fees and expenses
(including attorneys' fees) actually and reasonably incurred by him or her in
connection with the investigation, defense, settlement or appeal of such
action, suit or proceeding;

                  (c) To the full extent provided, allowed, authorized or not
prohibited by: (i) Section 607.0850 of the Florida Business Corporation Act or
any amendment thereof (to the extent such amendment permits, authorize or
allows broader indemnification rights than permitted, authorized or allowed
prior thereto), or other statutory provision authorizing, allowing, permitting
or not prohibiting such indemnification that is adopted hereafter; and (ii)
Article X of the COMPANY's Bylaws; and

                  (d) To the extent INDEMNITEE has been successful on the
merits or otherwise in defense of any actions, suits or proceedings referred to
in subsections (a), (b) or (c) of this section, or in the defense of any claim,
issue or matter described therein, against any and all costs, fees and expenses
(including attorneys' fees) actually and reasonably incurred by him or her in
connection with the investigation, defense or appeal of such actions, suits or
proceedings.

         3. ASSUMPTION OF LIABILITY BY THE COMPANY. If INDEMNITEE is deceased
and is entitled to indemnification under any provision of this Agreement, the
COMPANY shall indemnify and hold harmless INDEMNITEE's estate and his or her
spouse, heirs, administrators and executors against and the COMPANY shall
assume, and does hereby agree to assume, any and all liabilities, claims,
assessments, judgments, fines, penalties and amounts paid in settlement
thereof, as well as any and all costs, fees and expenses (including attorneys'
fees) actually and reasonably incurred by or for INDEMNITEE or his or her
estate, in connection with the investigation, defense, settlement or appeal of
any such action, suit or proceeding. Further, when requested in writing by the
spouse of INDEMNITEE, and/or the heirs, executors or administrators of
INDEMNITEE's estate, the

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COMPANY shall provide appropriate evidence of the COMPANY's agreement set out
herein, to indemnify INDEMNITEE against, and to itself assume, such costs,
liabilities and expenses.

         4. PARTIAL INDEMNIFICATION. If INDEMNITEE is entitled under any
provision of this Agreement to indemnification by the COMPANY for some or a
portion of the liabilities, claims, assessments, judgments, fines, penalties
and amounts paid in settlement thereof, as well as any and all costs, fees and
expenses (including attorneys' fees) actually and reasonably incurred in
connection with any such suit, action or proceeding but not, however, for all
of the total amount thereof, the COMPANY, nevertheless, shall, and does hereby
agree to, indemnify INDEMNITEE for the portion thereof to which INDEMNITEE is
entitled.

         5. INDEMNIFICATION PROCEDURES.

                  (a) Promptly after receipt by INDEMNITEE of notice of the
commencement of or the threat of commencement of any action, suit or
proceeding, INDEMNITEE shall, if indemnification with respect thereto may be
sought from the COMPANY under this Agreement, notify the COMPANY of the
commencement or the threat of commencement of such action, suit or proceeding.

                  (b) If, at the time of the receipt of such notice, the
COMPANY has D&O Insurance or other applicable insurance in effect, the COMPANY
shall give prompt notice of the commencement or threat thereof of such action,
suit or proceeding to the insurers in accordance with the procedures set forth
in the respective policies in favor of INDEMNITEE. The COMPANY shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf
of INDEMNITEE, all indemnification payable as a result of such action, suit or
proceeding in accordance with the terms of such policies.

                  (c) To the extent the COMPANY does not, at the time of the
commencement of or the threat of commencement of such action, suit or
proceeding, have applicable D&O Insurance or other insurance, or if a
determination is made that any indemnification arising out of such action, suit
or proceeding will not be payable or fully and completely payable under the D&O
Insurance or other insurance then in effect, or in the event the COMPANY shall
for any reason fail to make any determination regarding any applicable D&O
Insurance or other insurance, the COMPANY shall be obligated to pay the
expenses of any such action, suit or proceeding in advance of the final
disposition thereof, and the COMPANY, if appropriate, and to the extent agreed
to by the INDEMNITEE, shall be entitled to assume the defense of such action,
suit or proceeding, with counsel satisfactory to INDEMNITEE, upon the delivery
to INDEMNITEE of written notice of its election so to do. After delivery of
such notice and upon the agreement by the INDEMNITEE and the assumption of the
defense by the COMPANY, the COMPANY will not be liable to INDEMNITEE under this
Agreement for any legal or other expenses subsequently incurred by the
INDEMNITEE in connection with such defense other than reasonable expenses of
investigation; PROVIDED THAT INDEMNITEE shall have the right to employ his or
her counsel in any such action, suit or proceeding, but the fees and expenses
of such counsel incurred after delivery of notice from the COMPANY of its
assumption of such defense shall be at the INDEMNITEE's expense; PROVIDED
FURTHER THAT if: (i) the employment of counsel by INDEMNITEE has been
previously authorized by the COMPANY; (ii) INDEMNITEE

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shall have reasonably concluded that there may be a conflict of interest
between the COMPANY and INDEMNITEE in the conduct of any such defense; or (iii)
the COMPANY shall not, in fact, have employed counsel to assume the defense of
such action; then the fees and expenses of counsel shall be at the expense of
the COMPANY.

                  (d) All payments on account of the COMPANY's indemnification
obligations under this Agreement shall be made within sixty (60) days of
INDEMNITEE's written request therefor unless a determination is made that the
claims giving rise to INDEMNITEE's request are excluded claims or otherwise not
payable under this Agreement, PROVIDED THAT all payments on account of the
COMPANY's obligations for advancement of expenses prior to the final
disposition of any action, suit or proceeding shall be made within twenty (20)
days of INDEMNITEE's written request therefor or upon such earlier date as is
appropriate to properly defend any such action, suit or proceeding, COMPANY's
obligation to advance expenses hereunder shall not be subject to any such
determination but shall be subject to Paragraph 5(e) of this Agreement.

                  (e) INDEMNITEE agrees and undertakes that he will reimburse
the COMPANY for all advanced expenses paid by the COMPANY in connection with
any action, suit or proceeding against INDEMNITEE in the event and only to the
extent that a determination shall have been made by a court of competent
jurisdiction in a final adjudication from which there is no further right of
appeal that the INDEMNITEE is not entitled to be indemnified by the COMPANY for
such expenses because the INDEMNITEE is not entitled to payment by operation of
law and under this Agreement.

         6. PLEA OF NOLO CONTENDERE. The termination of any such action, suit
or proceeding which is covered by this Agreement by judgment, order, settlement
or conviction, or upon a plea of nolo contendere or its equivalent, shall not
of itself create a presumption for the purposes of this agreement that
INDEMNITEE did not act in good faith and in a manner, which he reasonably
believed to be in or not opposed to the best interests of the COMPANY or any of
its Affiliates and, with respect to any criminal action or proceeding, had
reasonable cause to believe that his conduct was unlawful.

         7. LIMITATION OF ACTIONS AND RELEASE OF CLAIMS. No legal action shall
be brought and no cause of action shall be asserted by or on behalf of the
COMPANY or any Affiliate against INDEMNITEE, his spouse, heirs, executors or
administrators after the expiration of two years from the date INDEMNITEE
ceases (for any reason) to serve in any one or more of the capacities covered
by this Agreement, and any claim or cause of action by or on behalf of the
COMPANY or any Affiliate shall be extinguished and deemed released unless
asserted by filing of a legal action within such two-year period.

         8. PREPAID EXPENSES. The costs and expenses incurred by INDEMNITEE in
investigating, defending or appealing any threatened, pending or completed
civil or criminal action, suit or proceedings, whether civil, criminal,
legislative, administrative or investigative covered hereunder, shall be paid
by the COMPANY in advance as may be appropriate properly to defend any such
action, suit or proceeding and/or paid in advance at the request of the
INDEMNITEE, and any judgments, fines or amounts paid in settlement shall be
paid by the COMPANY in advance, with the understanding and agreement hereby
made and entered into by INDEMNITEE and the COMPANY

                                       5

<PAGE>   6

that in the event it shall ultimately be determined as provided hereunder that
INDEMNITEE was not entitled to be indemnified, or was not entitled to be fully
indemnified, that INDEMNITEE shall repay to the COMPANY such amount, or the
appropriate portion thereof, so paid or advanced.

         9. OTHER RIGHTS AND REMEDIES. The indemnification and advance payment
of expenses as provided by any provision of this agreement shall not be deemed
exclusive of any other rights to which INDEMNITEE may be entitled under any
provision of law, the Articles of Incorporation, any Bylaw, this or any other
agreement, vote of stockholders or disinterested directors or otherwise, both
as to action in his official capacity and as to action in another capacity
while occupying any of the positions or having any of the relationships
referred to in this Agreement, and shall continue after INDEMNITEE has ceased
to occupy such position or have such relationships and shall inure to the
benefit of the heirs, executors and administrators of INDEMNITEE.

         10. SETTLEMENT. The COMPANY shall have no obligation to indemnify
INDEMNITEE under this Agreement for any amounts paid in settlement of any
action, suit or proceeding effected without the COMPANY's prior written
consent. The COMPANY shall not settle any claim in any manner which would
impose any claim, liability, fine, penalty, costs, expenses or any obligation
on INDEMNITEE without INDEMNITEE's written consent. Neither the COMPANY nor
INDEMNITEE shall unreasonably withhold their consent to any proposed
settlement.

         11. RIGHTS NOT EXCLUSIVE. The rights provided hereunder shall not be
deemed exclusive of any other rights to which the INDEMNITEE may be entitled
under any by-law, agreement, vote of stockholders or of disinterested directors
or otherwise, both as to action in his or her official capacity and as to
action in any other capacity by holding such office, and shall continue after
the INDEMNITEE ceases to serve the COMPANY as an officer, director, employee or
agent of the COMPANY or any Affiliate.

         12. ENFORCEMENT.

                  (a) INDEMNITEE's right to indemnification shall be
enforceable by INDEMNITEE only in the state courts of the State of Florida and
shall be enforceable notwithstanding any adverse determination resulting in the
liability for which indemnification is claimed, other than a determination
which has been made by the final adjudication of a court of competent
jurisdiction, the appeals period for which has expired. In any such action, if
a prior, though non-final, adverse determination has been made, the burden of
proving that indemnification is required under this Agreement shall be on
INDEMNITEE. The COMPANY shall have the burden of proving that indemnification
is not required under this Agreement if no such prior adverse determination
shall have been made.

                  (b) In the event that any action is instituted by INDEMNITEE
under this Agreement, or to enforce or interpret any of the terms of this
Agreement, INDEMNITEE shall be entitled to be paid all court costs and
expenses, including reasonable counsel fees, incurred by INDEMNITEE with
respect to such action, unless the court determines that each of the material

                                       6

<PAGE>   7

assertions made by INDEMNITEE as a basis for such action were not made in good
faith or were frivolous.

         13. SEVERABILITY. If any provision or provisions of this Agreement
shall be held to be invalid, illegal or unenforceable for any reason
whatsoever: (i) the validity, legality and enforceability of the remaining
provisions of this Agreement (including without limitation, all portions of any
paragraphs of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that are not themselves invalid, illegal or
unenforceable) shall not in any way be affected or impaired thereby; and (ii)
to the fullest extent possible, the provisions of this Agreement (including,
without limitation, all portions of any paragraph of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that are not
themselves invalid, illegal or unenforceable) shall be construed so as to give
effect to the intent manifested by the provision held invalid, illegal or
unenforceable.

         14. PRIOR AGREEMENTS. This Agreement shall be of no force and effect
with regard to the cost of settlement borne or paid by INDEMNITEE under the
provisions of any agreement executed by the COMPANY and/or INDEMNITEE prior to
the date hereof.

         15. IDENTICAL COUNTERPARTS. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an
original and all of which shall constitute the same instrument, but only one of
which need be produced.

         16. HEADINGS. The headings of the paragraphs of this Agreement are
inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

         17. USE OF CERTAIN TERMS. As used in this Agreement, the words
"herein", "hereof", and "hereunder" and other words of similar import refer to
this Agreement as a whole and not to any particular paragraph, subparagraph or
other subdivision.

         18. MODIFICATION AND WAIVER. No supplement, modification or amendment
of this Agreement shall be binding unless executed in writing by both of the
parties hereto. No waiver of any of the provisions of this Agreement shall be
deemed or shall constitute a waiver of any other provisions hereof (whether or
not similar) nor shall such waiver constitute a continuing waiver.

         19. NOTICE BY INDEMNITEE. INDEMNITEE agrees to promptly notify the
COMPANY in writing upon being served with any citation, complaint, indictment
or other document covered hereunder, either civil or criminal.

         20. NOTICES. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given if:
(i) delivered by hand and receipted for by the party to whom said notice or
other communication shall have been directed; or if (ii) mailed by certified or
registered mail with postage prepaid, on the third business day after the date
on which it is so mailed.

                                       7

<PAGE>   8

                  (a)      If to INDEMNITEE, to:

                  (b)      If to the COMPANY, to:

                                    Hans C. Mueller, Chief Executive Officer
                                    Florida Coastline Community Group, Inc.
                                    8720 North Kendall Drive, Suite 114
                                    Miami, Florida 33156

                  (c)      With copy to:

                                    Bischoff & Associates, P.A.
                                    The Aragon Building
                                    288 Aragon Avenue
                                    Coral Gables, Florida 33134
                                    (305) 443-7400 Phone
                                    (305) 443-7442 Facsimile

or to such other address as may have been furnished by either party to the
other.

         21. GOVERNING LAW. The Parties hereto agree that this agreement shall
be construed and enforced in accordance with and governed by the Laws of the
State of Florida.

         22. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the
COMPANY and its successors and assigns and shall inure to be benefit of the
INDEMNITEE and his spouse, heirs, executors and administrators.

         ENTERED into on the day and year first above written.

ATTEST:                               FLORIDA COASTLINE COMMUNITY
                                      GROUP, INC.

By:                                   By:
   ---------------------------           --------------------------------------

                                      INDEMNITEE:

                                      -----------------------------------------
                                                        , Individually

                                       8

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