Document:

Exhibit

Exhibit 10.1

MONEYGRAM INTERNATIONAL, INC.
TAX EQUALIZATION AGREEMENT

This TAX EQUALIZATION AGREEMENT (this “Agreement”), entered into as of May 15, 2018 (the “Effective Date”), is made by and between MoneyGram International, Inc., a Delaware corporation (together with its parent companies, direct and indirect subsidiaries, successors and permitted assigns under this Agreement, the “Company”), and Grant Lines (“Executive”). 
WHEREAS, the Company employs Executive as its Chief Revenue Officer; 
WHEREAS, effective as of May 1, 2018, the location of Executive’s employment was transferred from Dubai, United Arab Emirates to Dallas, Texas; and
WHEREAS, as consideration for Executive’s relocation to Dallas, Texas, the Human Resources and Nominating Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company has determined that it is in the best interests of the Company and its shareholders to provide Executive with the Equalization Payment (as defined below), subject to the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the promises and mutual covenants herein and for other good and valuable consideration, the receipt and sufficiency of which is mutually acknowledged, the parties agree as follows: 
		
	1.
	Definitions. 

a.“Cause” shall mean (i) Executive’s willful refusal to carry out, in all material respects, the reasonable and lawful directions of the person or persons to whom Executive reports or the Board that are within Executive’s control and consistent with Executive’s status with the Company and his or her duties and responsibilities (except for a failure that is attributable to Executive’s illness, injury or Disability) for a period of 10 days following written notice by the Company to Executive of such failure, (ii) fraud or material dishonesty in the performance of Executive’s duties, (iii) an act or acts on Executive’s part constituting (x) a felony under the laws of the United States or any state thereof, (y) a misdemeanor involving moral turpitude or (z) a material violation of federal or state securities laws, (iv) an indictment of Executive for a felony under the laws of the United States or any state thereof, (v) Executive’s willful misconduct or gross negligence in connection with Executive’s duties which could reasonably be expected to be injurious in any material respect to the financial condition or business reputation of the Company as determined in good faith by the Board, (vi) Executive’s material breach of the Company’s Code of Ethics, Always Honest policy or any other code of conduct in effect from time to time to the extent applicable to Executive, and which breach could reasonably be expected to have a material adverse effect on the Company as determined in good faith by the Board, or (vii) Executive’s breach of the Employee Trade Secret, Confidential Information and Post-Employment Restriction Agreement which breach has an adverse effect on the Company. 
b.“Change in Control” shall mean (i) a sale, transfer or other conveyance or disposition, in any single transaction or series of transactions, of all or substantially all of the Company’s assets, (ii) the transfer of more than 50% of the outstanding securities of the Company, calculated on a fully diluted basis, to an entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)), or (iii) the merger, consolidation reorganization, recapitalization or share exchange of the Company with another entity, in each case in clauses (ii) and (iii) above, under circumstances in which the holders of the voting power of the 

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outstanding securities of the Company, as the case may be, immediately prior to such transaction, together with such holders’ affiliates and related parties, hold less than 50% in voting power of the outstanding securities of the Company or the surviving entity or resulting entity, as the case may be, immediately following such transaction; provided, however, that the issuance of securities by the Company shall not, in any event, constitute a Change in Control, and, for the avoidance of doubt, a sale or other transfer or series of transfers of all or any portion of the securities of the Company held by the investors and their affiliates and related parties shall not constitute a Change in Control unless such sale or transfer or series of transfers results in an entity or group (as defined in the Exchange Act) other than the investors and their affiliates and related parties holding more than 50% in voting power of the outstanding securities of the Company.
c.“Disability” shall exist if Executive becomes physically or mentally incapacitated and is therefore unable for a period of six consecutive months or for an aggregate of nine months in any 24-consecutive month period to perform Executive’s duties. Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability made in writing to the Company and Executive shall be final and conclusive for all purposes of this Agreement. 
d.“Good Reason” shall mean (i) a material reduction in Executive’s position or responsibilities, excluding for this purpose an isolated, insubstantial or inadvertent action not taken in bad faith; (ii) a material reduction in Executive’s base salary or target bonus opportunity, if any, except in connection with an across-the-board reduction of not more than 10% applicable to similarly situated employees of the Company, or (iii) the reassignment, without Executive’s consent, of Executive’s place of work to a location more than 50 miles from Executive’s place of work on the Effective Date; provided, that none of the events described in clauses (i), (ii) and (iii) shall constitute Good Reason hereunder unless (x) Executive shall have given written notice to the Company of Executive’s intent to terminate his employment with Good Reason within 60 days following the occurrence of any such event and (y) the Company shall have failed to remedy such event within 30 days of the Company’s receipt of such notice.
2.Tax Equalization Payment.  The Company shall pay Executive a cash tax equalization payment in the gross amount of $513,000, less applicable taxes and withholdings (the “Equalization Payment”), subject to the terms and conditions as provided in this Agreement. The Equalization Payment shall be paid in two substantially equal installments on the Company’s first regularly scheduled payroll date for each complete calendar quarter beginning with the first complete calendar quarter beginning after the Effective Date (each, a “Payment Date”) so long as Executive remains continuously employed by the Company from the Effective Date through each Payment Date. Notwithstanding the foregoing or anything to the contrary herein, in the event a Change in Control occurs prior to the final Payment Date, then any unpaid portion of the Equalization Payment shall immediately become due and payable upon the consummation of such Change in Control so long as Executive remains continuously employed by the Company from the Effective Date through the date of such Change in Control.

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3.Restrictions on the Equalization Payment.  The Equalization Payment may not be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance of the Equalization Payment shall be void and unenforceable against the Company.
4.Effect of Termination of Employment.  Except otherwise may be determined by the Committee, if Executive ceases to be an employee of the Company prior to the final Payment Date, the following shall occur:
a.Termination for Cause; Resignation.  If Executive’s employment with the Company is terminated by the Company for Cause or Executive resigns for any reason other than due to Executive’s Disability, in each case, during the two-year period commencing on the Effective Date, then (i) any portion of the Equalization Payment that has not been paid as of the date of such termination of employment shall be immediately forfeited without consideration or notice; and (ii) Executive will be obligated to repay any portion of the Equalization Payment received by Executive prior to such termination, which repayment must be made no later than 60 days after the Company makes written demand for the repayment; provided, however, if Executive ceases to be employed by the Company as a result of Executive’s resignation for Good Reason at any time following a Change in Control, then the Equalization Payment shall not be subject to the repayment provision described in this Section 4(a). 
b.Termination by the Company.  If Executive’s employment with the Company is terminated by the Company without Cause during the period beginning on the first anniversary of the Effective Date and ending on the second anniversary of the Effective Date, then Executive will be obligated to repay a portion of the Equalization Payment, such portion equal to (i) the total amount of the Equalization Payment multiplied by (ii) a fraction, the numerator of which is the number of days that have elapsed from the Effective Date through the date of such termination and the denominator of which is 730, which repayment must be made no later than 60 days after the Company makes written demand for the repayment; provided, however, if Executive’s employment with the Company is terminated by the Company without Cause at any time following a Change in Control, then the Equalization Payment shall not be subject to the repayment provision described in this Section 4(b).
c.Other Termination.  If Executive ceases to be employed by the Company for any reason other than the reasons described in Sections 4(a) or 4(b) above, then any portion of the Equalization Payment that has not been paid as of the date of such termination of employment shall be immediately forfeited without consideration or notice.
d.The Committee shall have the exclusive discretion to determine when Executive is no longer continuously employed for purposes of this Agreement, and such determination shall be made in accordance with Section 409A (as defined below).
		
	5.
	At-Will Employment.  Executive’s employment is at-will and may be terminated by either Executive or Company at any time and for any reason. 

		
	6.
	Miscellaneous.

a.Treatment as Wages.  Solely for tax purposes, amounts paid in respect of the Equalization Payment will be treated as wages subject to applicable tax withholding (as provided under Section 6(b) below).

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b.Responsibility for Taxes. 
i.Regardless of any action the Company or Executive’s employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related items related to the Equalization Payment and legally applicable to Executive (“Tax-Related Items”), Executive acknowledges that the ultimate liability for all Tax-Related Items is and remains Executive’s responsibility and may exceed the amount actually withheld by the Company or the Employer. Executive further acknowledges that the Company and/or the Employer (x) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Equalization Payment (or any portion thereof) or Executive’s receipt thereof; and (y) do not commit to and are under no obligation to structure the terms or any aspect of this Agreement or the Equalization Payment to reduce or eliminate Executive’s liability for Tax-Related Items or achieve any particular tax result. Further, if Executive has become subject to tax in more than one jurisdiction, Executive acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
ii.In this regard, Executive authorizes the Company or its agent to satisfy the obligations with regard to all Tax-Related Items by withholding cash amounts from the Equalization Payment (or any portion thereof). The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts, maximum withholding rates or other applicable withholding rates. 
iii.Finally, Executive shall pay to the Company or the Employer, as applicable, any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of the Equalization Payment (or any portion thereof) that cannot be satisfied by the means previously described. The Company may refuse to pay the Equalization Payment (or any portion thereof) if Executive fails to comply with Executive’s obligations in connection with the Tax-Related Items.
c.Interpretations.  Any question of administration or interpretation arising under this Agreement shall be determined by the Committee, and such determination shall be final, conclusive and binding upon all parties in interest.
d.Nature of Payment.  In accepting the Equalization Payment, Executive acknowledges, understands and agrees that: (i) the Equalization Payment is voluntary and occasional and does not create any contractual or other right to receive future payment, awards, or benefits in lieu of payments or awards, even if similar payments or awards have been provided repeatedly in the past; and (ii) no claim or entitlement to compensation or damages shall arise from forfeiture of the Equalization Payment resulting from Executive’s termination of continuous employment by the Company or the Employer (for any reason whatsoever and whether or not later found to be invalid or in breach of any employment law in the country where Executive resides and/or is employed), and in consideration of the Equalization Payment to which Executive is otherwise not entitled, Executive irrevocably agrees never to institute any claim against the Company or the Employer, waives his ability, if any, to bring any such claim, and releases the Company and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by accepting the Equalization Payment (or 

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any portion thereof), Executive shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claims.
e.No Advice Regarding Payment.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the payment of the Equalization Payment or Executive’s receipt thereof. Executive is hereby advised to consult with his own personal tax, legal and financial advisors regarding the Equalization Payment.
f.Successors and Assigns; No Third Party Beneficiaries.  This Agreement shall inure to the benefit of and be binding upon the Company and Executive and their respective heirs, successors, legal representatives and permitted assigns. Nothing in this Agreement, express or implied, is intended to confer on any Person other than the Company and Executive, and their respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement.
g.Headings.  Headings are given to the sections and subsections of this Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Agreement or any provision hereof.
h.Governing Law; Arbitration.  The internal law, and not the law of conflicts, of the State of Texas will govern all questions concerning the validity, construction and effect of this Agreement.  Any controversy, dispute or claim arising under or in connection with this Agreement (including, without limitation, the existence, validity, interpretation or breach hereof and any claim based on contract, tort or statute) shall be resolved by a binding arbitration, to be held in Dallas, Texas pursuant to the U.S. Federal Arbitration Act and in accordance with the then-prevailing National Rules of Resolution of Employment Disputes of the American Arbitration Association (the “AAA”). The AAA shall select a sole arbitrator. Each party shall bear its own expenses incurred in connection with arbitration and the fees and expenses of the arbitrator shall be shared equally by the parties involved in the dispute and advanced by them from time to time as required. It is the mutual intention and desire of the parties that the arbitrator be chosen as expeditiously as possible following the submission of the dispute to arbitration. Once such arbitrator is chosen, and except as may otherwise be agreed in writing by the parties involved in such dispute or as ordered by the arbitrator upon substantial justification shown, the hearing for the dispute will be held within 60 days of submission of the dispute to arbitration. The arbitrator shall render his or her final award within 60 days, subject to extension by the arbitrator upon substantial justification shown of extraordinary circumstances, following conclusion of the hearing and any required post-hearing briefing or other proceedings ordered by the arbitrator. Any discovery in connection with arbitration hereunder shall be limited to information directly relevant to the controversy or claim in arbitration. The arbitrator will state the factual and legal basis for the Equalization Payment.  The decision of the arbitrator in any such proceeding will be final and binding and not subject to judicial review and final judgment may be entered upon such an award in any court of competent jurisdiction, but entry of such judgment will not be required to make such award effective. Any action against any party hereto ancillary to arbitration, including any action for provisional or conservatory measures or action to enforce an arbitration award or any judgment entered by any court in respect thereof may be brought in any federal or state court of competent jurisdiction located within the State of Texas, and the parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any 

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federal or state court located within the State of Texas over any such action. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection which they may now or hereafter have to the laying of venue of any such action brought in such court or any defense of inconvenient forum for the maintenance of such action.  Each of the parties hereto agrees that a judgment in any such action may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
i.Notices.  Executive should send all written notices regarding this Agreement to the Company at the following address:
MoneyGram International, Inc. 
Attn Legal Department
2828 North Harwood Street, 15th Floor
Dallas, TX 75201
j.Amendments.  The Company may amend this Agreement at any time; provided that no such amendment, alteration, suspension, discontinuation or termination shall be made without Executive’s consent, if such action would materially diminish any of Executive’s rights under this Agreement. The Company reserves the right to impose other requirements on the Equalization Payment and any payments receipt in respect thereof to the extent the Company determines it is necessary or advisable under applicable law
k.Entire Agreement.  This Agreement and any schedules, exhibits and other documents referred to herein and therein constitute the entire agreement and understanding among the parties hereto in respect of the subject matter hereof and thereof and supersede all prior and contemporaneous arrangements, agreements and understandings, both oral and written, whether in term sheets, presentations or otherwise, among the parties hereto, or between any of them, with respect to the subject matter hereof and thereof.
l.Severability.  If any provision of this Agreement is invalid, illegal, or incapable of being enforced by any law, all other provisions of this Agreement shall remain in full force and effect so long as the economic and legal substance of the transactions contemplated hereby are not affected in any manner materially adverse to any party. If any provision of this Agreement is held to be invalid, illegal, or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.
m.Counterparts.  For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document.
n.Waiver.  Executive acknowledges that a waiver by the Company of any provision of this Agreement or of a breach by Executive shall not operate or be construed as a waiver of any other provision of this Agreement or of any subsequent breach by Executive.
o.Section 409A Provisions.  Notwithstanding any provision of this Agreement to the contrary, all provisions of this Agreement are intended to comply with Section 409A of the Internal Revenue Code of 1986 (the “Code”), and the applicable Treasury regulations and administrative 

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guidance issued thereunder (collectively, “Section 409A”) or an exemption therefrom and shall be construed and administered in accordance with such intent. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of Executive’s employment shall only be made if such termination of employment constitutes a “separation from service” under Section 409A. Notwithstanding any provision in this Agreement to the contrary, if any payment or benefit provided for herein would be subject to additional taxes and interest under Section 409A if Executive’s receipt of such payment or benefit is not delayed until the earlier of (i) the date of Executive’s death or (ii) the date that is six months after the date of Executive’s termination (such date, the “Section 409A Payment Date”), then such payment or benefit shall not be provided to Executive (or Executive’s estate, if applicable) until the Section 409A Payment Date. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement are exempt from, or compliant with, Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by Executive on account of non-compliance with Section 409A.

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IN WITNESS WHEREOF, the Company and Executive have executed this Agreement as of the date set forth in the first paragraph.    
                            	
	
	MONEYGRAM INTERNATIONAL, INC.

	 

	By:       /s/ Alex Vargas

	Name: Alex Vargas

	Title:   Head of Total Rewards

	 

	EXECUTIVE

	 

	 

	            /s/ Grant Lines

	Name: Grant Lines

Signature Page to
Tax Equalization AgreementExhibit

RESTRICTED STOCK AGREEMENT
	
	
	STATE BANK FINANCIAL CORPORATION 
2011 OMNIBUS EQUITY COMPENSATION PLAN
GRANTEE: [Ÿ]
NO. OF SHARES: [Ÿ]
GRANT DATE: May 23, 2018

This Restricted Stock Agreement (the “Agreement”) evidences the grant to the Grantee named above (“you”) of the number of restricted shares set forth above (each, an “Award Share,” and collectively, the “Award Shares”) of the $0.01 par value common stock of State Bank Financial Corporation, a Georgia corporation (the “Company”) as of the date of grant set forth above (the “Grant Date”), pursuant to the State Bank Financial Corporation 2011 Omnibus Equity Compensation Plan (the “Plan”) and conditioned upon your agreement to the terms described below.  All of the provisions of the Plan are expressly incorporated into this Agreement.

1.Terminology.  Capitalized words used in this Agreement and not defined herein shall have the meaning set forth in the Plan.

2.Vesting.  

(a)As of the Grant Date, all Award Shares are unvested.  All Award Shares shall become vested on the date of the Company’s 2019 annual shareholders’ meeting, unless vested earlier in accordance with this Agreement or as directed by the Committee. 

(b)Notwithstanding anything herein or in the Plan to the contrary, all Award Shares shall become vested concurrent with the consummation of a Change of Control as defined in Section 2.1(f) of the Plan, provided that consummation of a Change of Control described in Section 2.1(f)(iii) of the Plan shall occur on the closing date of such Change of Control.

3.Termination of Employment.  If your service as a member of the board of directors of the Company (including any Affiliate of the Company) ceases for any reason, all Award Shares that are not then vested will be immediately and automatically forfeited and cancelled upon the date your service as a director terminates.  Notwithstanding the preceding sentence, (a) if your service as a director ends on account of your death; or (b) if your service as a director ends on account of your Permanent Disability, you shall vest in the number of Award Shares determined by dividing the total number of Award Shares by 12, and then multiplying that result by the number of months you served as a director between May 23, 2018 and the date your service as a director terminated (with any partial month of service rounded up).
4.Restrictions on Transfer. 

(a)Until an Award Share becomes vested, it may not be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process.

(b)The Company shall not be required to (i) transfer on its books any Award Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Award 

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Shares, or otherwise accord voting, dividend or liquidation rights to, any transferee to whom Award Shares have been transferred in contravention of this Agreement.
(c)Upon vesting, an Award Share shall be transferred to you without restrictions on further transfer in accordance with Section 5.

5.Stock Certificates.  You will be reflected as the owner of record of the Award Shares as of the Grant Date on the Company’s books.  The Company, or its transfer agent, will hold the share certificates for safekeeping, or otherwise retain the Award Shares in uncertificated book entry form, until all the Award Shares become vested or have otherwise been forfeited in accordance with Section 3.  Once all of the Award Shares have vested or have otherwise been forfeited in accordance with Section 3, the Company, or its transfer agent, will deliver a stock certificate to you for the outstanding vested Award Shares.  Until the Award Shares become vested, any share certificates representing such shares will include a legend to the effect that you may not sell, assign, transfer, pledge, or hypothecate the Award Shares pursuant to this Agreement and the Plan.  At the execution of this Agreement, you shall deliver to the Company a stock power, endorsed in blank, with respect to any Award Shares that may be forfeited pursuant to this Agreement.   

6.Taxes: Election and Withholding.  

(a)  You hereby agree to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if any, which arise in connection with the grant or vesting of the Award Shares.  You may elect to deduct from any compensation or any other payment of any kind (including withholding the issuance of shares of Stock) due you the amount of any federal, state, local or foreign taxes required by law to be withheld as a result of the grant or vesting of the Award Shares in whole or in part up to the highest marginal tax rate required for such taxes; provided, however, that such withholding does not trigger liability accounting under FASB ASC Topic 718.  If the Company is required to withhold any amount of tax with respect to such vesting or grant of the Award Shares, the Company shall have the right to require you to pay to the Company the amount of such tax, or, in lieu thereof, to retain or to sell without notice, a sufficient number of shares of the Award Shares to cover the maximum amount of taxes required to be withheld. The Company may report any income to the Internal Revenue Service and any other applicable governmental entity, even if you refuse to make any tax or withholding payments.  The value of Award Shares deducted is based on the Fair Market Value of the shares of Stock on the applicable date of vesting.

(b)  You hereby acknowledge that you have been advised by the Company to seek independent tax advice from your own advisors regarding the availability and advisability of making an election under Section 83(b) of the Code, and that any such election, if made, must be made within 30 days of the Grant Date.  If you make an election under 83(b) of the Code, you agree to promptly deliver a copy of such election to the Company.  You expressly acknowledge that you are solely responsible for filing any such Section 83(b) election with the appropriate governmental authorities, irrespective of the fact that such election is also delivered to the Company.  You may not rely on the Company or any of its officers, directors or employees for tax or legal advice regarding this award.  

7.Adjustments for Corporate Transactions and Other Events.

(a)    Stock Dividend, Stock Split, Reverse Stock Split and Other Changes.  Upon a stock dividend of, or stock split or reverse stock split affecting, the Stock, the number of unvested Award Shares shall, without further action of the Committee or Administrative Agent, be adjusted to reflect such event.  The Award Shares shall be adjusted for other changes in the number or kind of outstanding Stock by the 

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Committee in accordance with Sections 4 and/or 12 of the Plan.  The Administrative Agent may make adjustments, in its discretion, to address the treatment of fractional shares with respect to the Award Shares as a result of the stock dividend, stock split or reverse stock split.  Adjustments under this Section 7 will be made by the Committee, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive.  No fractional Award Shares will result from any such adjustments.

(b)Binding Nature of Agreement.  The terms and conditions of this Agreement shall apply with equal force to any additional and/or substitute securities received by you in exchange for, or by virtue of your ownership of, the Award Shares, whether as a result of any spin-off, stock split-up, stock dividend, stock distribution, other reclassification of the Stock of the Company, or similar event, except as otherwise determined by the Committee.  If the Award Shares are converted into or exchanged for, or shareholders of the Company receive by reason of any distribution in total or partial liquidation or pursuant to any merger of the Company or acquisition of its assets, securities of another entity, or other property (including cash), then the rights of the Company under this Agreement shall inure to the benefit of the Company’s successor, and this Agreement shall apply to the securities or other property received upon such conversion, exchange or distribution in the same manner and to the same extent as the Award Shares and such securities or other property shall be considered “Award Shares” for all purposes under this Agreement.

(c)Required Forfeitures and Clawbacks.  Each Award Share is conditioned on your forfeiting, waiving, or repaying to the Company any amount or Award Share as may be required in compliance with Section 304 of the Sarbanes-Oxley Act, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the Company’s clawback compliance policy as in effect from time to time and as directed by the Committee.  You agree to execute any documents to effect any required forfeiture, waiver or clawback.  You agree to assign any Award Shares to the Company or pay any cash amount in lieu thereof as may be required for such compliance.

(d)Non-Guarantee of Employment or Service Relationship.  Nothing in the Plan or this Agreement shall alter your at-will or other employment status or other service relationship with the Company, nor be construed as a contract of employment or service relationship between the Company and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without cause or notice and whether or not such discharge results in the forfeiture of any Award Shares or any other adverse effect on your interests under the Plan.

(e)Rights as Shareholder.  Except as otherwise provided in this Agreement with respect to the Award Shares which have not vested, you are entitled to all rights of a shareholder of the Company, including the right to vote the Award Shares (subject to any applicable Voting Agreement or similar arrangement to which you may be a party) and receive dividends and/or other distributions declared on the Award Shares.

(f)The Company’s Rights.  The existence of the Award Shares shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

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(g)Notices.  All notices and other communications made or given pursuant to this Agreement shall be in writing and shall be sufficiently made or given if hand delivered, mailed by certified mail, transmitted by facsimile or email, addressed to you at the address contained in the records of the Company, or addressed to the Administrative Agent, care of the Company for the attention of its Corporate Secretary at its principal executive office.

(h)Entire Agreement.  This Agreement, together with the Plan, contains the entire agreement between the parties with respect to the Award Shares granted hereunder.  Any oral or written agreements, representations, warranties, written inducements, or other communications made prior to the execution of this Agreement with respect to the Award Shares granted hereunder shall be void and ineffective for all purposes.

(i)Severability.  If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith.  In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

(j)Amendment.  This Agreement may be amended from time to time by the Committee in its discretion; provided, however, that this Agreement may not be modified in a manner that would have an adverse effect on the Award Shares as determined in the discretion of the Committee, except as provided in the Plan or in a written document signed by each of the parties hereto.

(k)Conformity with Plan.  This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan.  Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of this Agreement.  A copy of the Plan has been made available to you.

(l)Governing Law. The validity, construction and effect of this Agreement, and of any determinations or decisions made by the Committee or the Administrative Agent relating to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement, shall be determined exclusively in accordance with the laws of the State of Georgia, without regard to its provisions concerning the applicability of laws of other jurisdictions.  

(m)Headings.  The headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

(n)Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer.
STATE BANK FINANCIAL CORPORATION
By:                          
Name:                         
Title:                         

Date:                         

The undersigned hereby acknowledges that he/she has carefully read this Agreement and agrees to be bound by all of the provisions set forth herein.
GRANTEE
                                
Name: 

Date:                         

Address:                     
                      

Facsimile:                     

Enclosure:  State Bank Financial Corporation 
                  2011 Omnibus Equity Compensation Plan

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{This Stock Power should be signed in blank and deposited with the Company if share certificates are issued and/or delivered to the Grantee for Award Shares that are forfeitable.}

STOCK POWER

FOR VALUE RECEIVED, the undersigned, ___________________________, hereby sells, assigns and transfers unto State Bank Financial Corporation, a Georgia corporation (the “Company”), or its successor, _________ shares of restricted common stock, par value $0.01 per share, of the Company standing in my name on the books of the Company, represented by Certificate No. ___, which is attached hereto, and hereby irrevocably constitutes and appoints ______________________________ as my attorney-in-fact to transfer the said stock on the books of the Company with full power of substitution in the premises.

This Stock Power may only be used in connection with the forfeiture of Award Shares pursuant to that certain Restricted Stock Agreement between ____________ and the Company, dated ______________, 2018.

____________________________________
Name: 

Dated: ______________________________

IF YOU WISH TO MAKE A SECTION 83(B) ELECTION, THE FILING OF SUCH ELECTION IS YOUR RESPONSIBILITY.

THE FORM FOR MAKING THIS SECTION 83(B) ELECTION IS ATTACHED TO THIS AGREEMENT AS EXHIBIT A.

YOU MUST FILE THIS FORM WITHIN 30 DAYS OF THE DATE OF GRANT OF THE SHARES.

YOU (AND NOT THE COMPANY OR ANY OF ITS AGENTS) SHALL BE SOLELY RESPONSIBLE FOR FILING SUCH FORM WITH THE IRS, EVEN IF YOU REQUEST THE COMPANY OR ITS AGENTS TO MAKE THIS FILING ON YOUR BEHALF AND EVEN IF THE COMPANY OR ITS AGENTS HAVE PREVIOUSLY MADE THIS FILING ON YOUR  BEHALF.

The election should be filed by mailing a signed election form by certified mail, return receipt requested to the IRS Service Center  where you file your tax returns. See www.irs.gov.

EXHIBIT A
ELECTION UNDER SECTION 83(b) OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED 
The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in his or her gross income for the current taxable year, the amount of any compensation taxable to him or her in connection with his or her receipt of the property described below:
		
	1.
	The name, address, taxpayer identification number and taxable year of the undersigned are as follows:

NAME OF TAXPAYER:  [_____________]    SPOUSE:   [_____________]
TAXPAYER’S ADDRESS:    [_____________]
[_____________]
TAXPAYER ID #:            SPOUSE’S ID #:    
		
	2.
	The property with respect to which the election is made is described as follows:  [________] shares (the “Shares”) of the Common Stock of State Bank Financial Corporation (the “Company”).

		
	3.
	The date on which the property was transferred is: [Date].

		
	4.
	The property is subject to the following restrictions:  [describe].

		
	5.
	The fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of such property is:  $[______].

		
	6.
	The amount, if any, paid for such property:  $[_________].

The undersigned has submitted a copy of this statement to the person for whom the services were performed in connection with the undersigned’s receipt of the above-described property.  The transferee of such property is the person performing the services in connection with the transfer of said property.
The undersigned understand(s) that the foregoing election may not be revoked except with the consent of the Commissioner.
Dated:    .        
[_____________], Taxpayer
The undersigned spouse of taxpayer joins in this election.
Dated:    .        
[_____________], Spouse of Taxpayer

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