Document:

Exhibit 10.4.4.

                 FIRST SOUTH BANK SALARY CONTINUATION AGREEMENT

       THIS SALARY  CONTINUATION  AGREEMENT (the  "Agreement") is made this 19th
 day of  November,  1999,  by and between  FIRST SOUTH BANK, a state bank with a
 principal  office in  Spartanburg,  South Carolina (the "Company") and BARRY L.
 SLIDER (the "Executive").

                                  INTRODUCTION

       To encourage  the  Executive  to remain an employee of the  Company,  the
 Company is willing to provide  salary  continuation  benefits to the Executive.
 The Company will pay the benefits from its general assets.

                                    AGREEMENT

       Now,  therefore,  in consideration of the mutual covenants and agreements
 herein, the Executive and the Company agree as follows:

                                    Article 1
                                   Definitions

        1.1  Definitions.  Whenever used in this Agreement,  the following words
and phrases shall have the meanings specified:

                  1.1.1  "Accrual  Balance  "means the amount of death  benefits
         payable to the Executive  pursuant to Section 3.1 of this Agreement and
         set forth in the attached Schedule A.

                  1.1.2  "Board  "or  "Board of  Directors  "means  the Board of
         Directors of the Company.

                  1.1.3 "Change of Control "means

                    (i)  the  acquisition  by any  person,  group of  persons or
                         entities of the  beneficial  ownership or power to vote
                         more  than  twenty  (20%)   percent  of  the  Company's
                         outstanding stock, or

                    (ii) during  any  period  of two (2)  consecutive  years,  a
                         change in the majority of the Board unless the election
                         of  each  new   director   was  approved  by  at  least
                         two-thirds  of the  directors  then still in office who
                         were  directors  at the  beginning of such two (2) year
                         period, or

                    (iii) a   reorganization,   merger,   exchange   of  shares,
                         combination or consolidation of the Company with one or
                         more other  corporations  or other  legal  entities  in

<PAGE>

                         which the Company is not surviving the corporation,  or
                         a transfer of all or substantially all of the assets of
                         the Company to another person or entity.

                    (iv) Notwithstanding  any other provision in this Agreement,
                         "Change of Control"  shall not be construed to mean the
                         formation  of a bank  holding  company or other  entity
                         approved  in  advance  by the Board or any  changes  in
                         ownership  of the  Company's  assets  or  stock  as the
                         result of the formation of such an entity.

                  1.1.4  "Code"  means the  Internal  Revenue  Code of 1986,  as
         amended.  References  to a Code  section  shall  be  deemed  to be that
         section as it now exists and to any successor provision.

                  1.1.5  "Disability"  means,  if the  Executive is covered by a
         Company  sponsored  disability  policy,  total disability as defined in
         such policy without regard to any waiting  period.  If the Executive is
         not covered by such a policy,  Disability means the Executive suffering
         a sickness,  accident or injury  that,  in the  judgment of a physician
         appointed  and  paid  by  the  Company,  prevents  the  Executive  from
         performing  substantially all of the Executive's  normal duties for the
         Company.  As a condition to any  benefits,  the Company may require the
         Executive to submit to such physical or mental evaluations and tests as
         the Company's Board of Directors deems appropriate.

                  1.1.6 "Early  Termination" means the Termination of Employment
         before Normal Retirement Age for reasons other than death,  Disability,
         Termination for Cause or following a Change of Control.

                  1.1.7 "Early  Termination  Date" means the month, day and year
         in which Early Termination occurs.

                  1.1.8 "Effective Date" means January 1, 1999.

                  1.1.9   "Normal   Retirement   Age"   means  the   Executive's
         sixty-fifth (65lh) birthday.

                  1.1.10 "Normal  Retirement Date" means the later of the Normal
         Retirement Age or Termination of Employment.

                  1.1.11 "Plan Year" means a twelve-month  period  commencing on
         January  1st and ending on December  31st of each year.  The first Plan
         Year shall commence on the Effective Date of this Agreement.

                  1.1.12  'Termination  for Cause"  shall have the  meaning  set
         forth in Section 5.2.

                  1.13  'Termination  of  Employment " means that the  Executive
         ceases to be employed by the  Company for any reason  whatsoever  other
         than by reason of a leave of absence  that is approved by the  Company.
         For purposes of this  Agreement,  if there is a dispute over the 1.1.12

<PAGE>

         employment  status  of the  Executive  or the  date of the  Executive's
         Termination of  Employment,  the Board shall have the sole and absolute
         right to decide the dispute.

                                    Article 2
                                    Lifetime
                                    Benefits

       2.1 Normal Retirement Benefit. Upon Termination of Employment on or after
the Normal  Retirement  Age for reasons other than the  Executive's  death,  the
Company shall pay to the Executive the benefit  described in this Section 2.1 in
lieu of any other benefit under this Agreement.

                  2.1.1 Amount of Benefit. The annual benefit under this Section
         2.1 for the first Plan Year is forty-five  thousand two hundred  thirty
         ($45,230)  dollars  as stated on the  attached  Schedule  A. The annual
         benefit will be increased two (2.0%) percent each Plan Year thereafter,
         until Termination of Employment. The Board, in its sole discretion, may
         increase the annual  benefit under this Section 2.1.1 beyond the annual
         two (2.0%) percent increase;  however,  any such increase shall require
         the restatement of Schedule A.

                  2.1.2  Payment of Benefit.  The  Company  shall pay the annual
         benefit to the Executive in equal and consecutive monthly  installments
         payable  on the  first  day of each  month  commencing  with the  month
         following the Executive's Normal Retirement Date and continuing for two
         hundred  fifteen (215)  additional  months,  for a total of two hundred
         sixteen (216) monthly payments.

         2.2 Early  Termination  Benefit.  Upon Early  Termination,  the Company
shall pay to the Executive the benefit  described in this Section 2.2 in lieu of
any other benefit under this Agreement.

                  2.2.1 Amount of Benefit. The benefit under this Section 2.2 is
         the Early Termination Annual Benefit amount set forth in Schedule A for
         the Plan Year ending immediately prior to the Early Termination Date.

                  2.2.2  Payment of Benefit.  The  Company  shall pay the annual
         benefit to the Executive in equal and consecutive monthly  installments
         payable  on the  first  day of each  month  commencing  with the  month
         following the Executive's  Normal Retirement Age and continuing for two
         hundred  fifteen (215)  additional  months,  for a total of two hundred
         sixteen (216) monthly payments.

       2.3 Disability  Benefit.  If the Executive  terminates  employment due to
Disability  prior  to  Normal  Retirement  Age,  the  Company  shall  pay to the
Executive the benefit described in this Section 2.3 in lieu of any other benefit
under this Agreement.

                  2.3.1 Amount of Benefit. The benefit under this Section 2.3 is
         the  Disability  Annual  Benefit amount set forth in Schedule A for the
         Plan Year ending immediately prior to the date in which the Termination
         of Employment occurs. However, any increase in the annual benefit under

<PAGE>

         Section 2.1.1 would require the recalculation of the Disability benefit
         on Schedule A. The  Disability  Annual  Benefit amount is determined by
         calculating   a  fixed   annuity   which  is  payable  in  one  hundred
         seventy-nine  (179) equal monthly  installments,  crediting interest on
         the unpaid  balance of the  Accrual  Balance at an annual rate of seven
         and one-half (7.5%) percent, compounded monthly.

              2.3.2 Payment of Benefit. The Company shall pay the annual benefit
        amount to the Executive in equal and  consecutive  monthly  installments
        payable  on the  first  day of each  month  commencing  with  the  month
        following the  Termination  of Employment and continuing for two hundred
        fifteen  (215)  additional  months,  for a total of two hundred  sixteen
        (216) monthly payments. Upon petition by the Executive,  the Company, in
        its sole  discretion,  may instead pay the benefit in an amount equal to
        the Accrual  Balance in a lump sum within sixty (60) days of Termination
        of Employment in lieu of any other benefit under this Agreement.

       2.4 Change of Control Benefit. Upon Termination of Employment following a
 Change of Control, the Company shall pay to the Executive the benefit described
 in this Section 2.4 in lieu of any other benefit under this Agreement.

                  2.4.1 Amount of Benefit. The annual benefit under this Section
         2.4 is the  Change  of  Control  Annual  Benefit  amount  set  forth on
         Schedule A for the Plan Year in which Termination of Employment occurs.

                  2.4.2  Payment of Benefit.  The  Company  shall pay the annual
         benefit  amount  to the  Executive  in equal  and  consecutive  monthly
         installments payable on the first day of each month commencing with the
         month  following  the Normal  Retirement  Date and  continuing  for two
         hundred  fifteen (215)  additional  months,  for a total of two hundred
         sixteen (216) monthly payments.

                                    Article 3

                                 Death Benefits

       3.1 Death  Benefits.  If the Executive dies while employed by the Company
and prior to commencement of any benefits due under Article 2, the Company shall
pay to the Executive's  beneficiary  the benefit  described in this Section 3.1.
This benefit shall be paid in lieu of any other benefit under this Agreement.

                  3.1.1 Amount of Benefit. The benefit under this Section 3.1 is
         the  Accrual  Balance  set forth in Schedule A for the Plan Year ending
         immediately prior to the Executive's death.

                  3.1.2 Payment of Benefit. The Company shall pay the benefit to
         the  Executive's  beneficiary  in a lump sum  within  sixty  (60)  days
         following the Executive's death.

<PAGE>

                                    Article 4

                                  Beneficiaries

         4.1 Beneficiary  Designations.  The Executive shall designate a primary
and contingent beneficiary by filing a written designation with the Company. The
Executive  may  revoke or  modify  the  designation  at any time by filing a new
designation.  However,  designations  will  only be  effective  if signed by the
Executive  and  accepted by the Company  during the  Executive's  lifetime.  The
Executive's beneficiary designation shall be deemed automatically revoked if the
beneficiary  predeceases  the Executive,  or if the Executive  names a spouse as
beneficiary  and the marriage is subsequently  dissolved.  If the Executive dies
without  a valid  beneficiary  designation,  all  payments  shall be made to the
Executive's  surviving spouse, if any, and if none, to the Executive's surviving
descendants,  per stirpes.  and if no surviving spouse and  descendants,  to the
Executive's estate. If Executive dies and subsequently the beneficiary receiving
benefit  payments dies, then any remaining  payments shall be paid pursuant to a
written beneficiary designation filed with the Company made by such beneficiary,
or if none to such beneficiary's estate.

         4.2 Facility of Payment. If abenefit is payable to a minor, to a person
declared incapacitated,  or to a person incapable of handling the disposition of
his or  her  property,  the  Company  may  pay  such  benefit  to the  guardian,
conservator,  legal  representative or person having the care or custody of such
minor,  incapacitated  person or incapable person. The Company may require proof
of incapacity,  minority or  guardianship  as it may deem  appropriate  prior to
distribution of the benefit.  Such distribution  shall completely  discharge the
Company from all liability with respect to such benefit.

                                    Article 5

                               General Limitations

              Notwithstanding  any provision of this  Agreement to the contrary,
 Executive shall  irrevocably  forfeit and the Company shall not pay any benefit
 under this Agreement if any of the events described in Sections 5.1 - 5.3 below
 occur:

       5.1 Excess  Parachute  Payment.  In the event that the benefit payable to
the Executive pursuant to this Agreement should cause a "parachute  payment," as
defined in Code  section  280G(b)(2)  of the Code,  then such  benefit  shall be
reduced One Dollar  (Si.00) at a time until the payment  will not  constitute  a
parachute  payment.  In the event the benefit the Executive  receives under this
Agreement  should be  incorrectly  calculated so that such amount  constitutes a
parachute payment, then the Executive will promptly refund to Company the excess
amount..  Excess amount shall mean the amount in excess of the Executive's  base
amount, as defined in Code Section 280G(b)(3), multiplied by 2.999.

         5.2 Termination  for Cause.  If the Company  terminates the Executive's
employment for:

         5.2.1    any willful act of misconduct or gross negligence,  prior to a
                  Change  of  Control,  which  is  materially  injurious  to the
                  Company monetarily or otherwise;

<PAGE>

         5.2.2    a criminal  conviction  of the Executive for any act involving
                  the business and affairs of the Company; or

         5.2.3    a criminal  conviction of the  Executive  for  commission of a
                  felony, the circumstances of which substantially relate to the
                  Executive's position with the Company.

         5.3 Suicide or  Misstatement.  If the Executive  commits suicide within
two (2) years after the date of this Agreement, or if the Executive has made any
material misstatement of fact on any application for life insurance purchased by
the Company.

         5.4 No  Duplication  of  Benefits.  Each of the  benefits  described in
Articles 2 and 3 are intended to be separate benefits and mutually  exclusive of
the other so that once benefit payments commence under one Section the Executive
(or his beneficiary,  as the case may be) shall not thereafter  receive payments
or become entitled to benefits under another Section.

                                    Article 6

                          Claims and Review Procedures

         6.1 Claims  Procedure.  The Company  shall  notify any person or entity
that makes a claim  pursuant  to this  Agreement  (the  "Claimant")  in writing,
within ninety (90) days of the Claimant's written  application for benefits,  of
his or her eligibility or  noneligibility  for benefits under the Agreement.  If
the Company  determines  that the  Claimant is not eligible for benefits or full
benefits,  the notice shall set forth (1) the specific  reasons for such denial,
(2) a specific  reference to the provisions of the Agreement on which the denial
is based, (3) a description of any additional  information or material necessary
for the  Claimant to perfect his or her claim,  and a  description  of why it is
needed,  and (4) an explanation of the Agreement's  claims review  procedure and
other appropriate information as to the steps to be taken if the Claimant wishes
to have the claim  reviewed.  If the Company  determines  that there are special
circumstances  requiring  additional time to make a decision,  the Company shall
notify  the  Claimant  of the  special  circumstances  and the  date by  which a
decision is expected to be made, and may extend the time for up to an additional
ninety (90) day period.

         6.2 Review Procedure.  If the Claimant is determined by the Company not
to be eligible  for  benefits,  or if the  Claimant  believes  that he or she is
entitled  to  greater  or  different  benefits,  the  Claimant  shall  have  the
opportunity  to have such claim reviewed by the Company by filing a petition for
review  with the  Company  within  sixty (60) days  after  receipt of the notice
issued by the Company.  Said petition shall state the specific reasons which the
Claimant  believes  entitle him or her to  benefits  or to greater or  different
benefits.  Within sixty (60) days after  receipt by the Company of the petition,
the Company shall afford the Claimant (and counsel,  if any) an  opportunity  to
present  his or her  position  to the  Company  orally  or in  writing,  and the
Claimant (or counsel)  shall have the right to review the  pertinent  documents.
The Company  shall  notify the  Claimant of its  decision in writing  within the

<PAGE>

sixty (60) day  period,  stating  specifically  the basis of its  decision,  6.1
written in a manner calculated to be understood by the Claimant and the specific
provisions of the Agreement on which the decision is based.  If,  because of the
need for a hearing,  the sixty (60) day period is not  sufficient,  the decision
may be deferred  for up to another  sixty (60) day period at the election of the
Company, but notice of this deferral shall be given to the Claimant.

                                    Article 7

                           Amendments and Termination

        This Agreement may be amended or terminated only by a written  agreement
 signed by the Company and the Executive.

                                    Article 8
                                  Miscellaneous

         8.1 Binding  Effect.  This  Agreement  shall bind the Executive and the
Company,  and their  heirs,  beneficiaries,  survivors,  legal  representatives,
personal representatives, assigns, successors, administrators and transferees.

         8.2 No Guarantee of  Employment.  This  Agreement is not an  employment
policy or contract.  This  Agreement  does not give the  Executive  the right to
remain an employee of the  Company,  nor does it  interfere  with the  Company's
right to  discharge  the  Executive.  This  Agreement  also does not require the
Executive  to remain an employee nor  interfere  with the  Executive's  right to
terminate  employment at any time.  Nothing in this Agreement shall be construed
as an employment agreement, either express or implied.

         8.3 Non-Transfer ability. No amounts payable under this Agreement shall
be transferable by the Executive.  Further,  the Executive may not sell, assign,
alienate, pledge or otherwise encumber any benefits under this Agreement.

         8.4 Reorganization.  The Company shall not merge or consolidate into or
with another company, or reorganize,  or sell substantially all of its assets to
another company,  firm, or person unless such succeeding or continuing  company,
firm, or person agrees to assume and  discharge the  obligations  of the Company
under this Agreement.  Upon the occurrence of such event,  the term "Company" as
used in this  Agreement  shall be deemed to refer to the  successor  or survivor
company.

         8.5 Tax  Withholding.  The Company  shall  withhold  any taxes that are
required to be withheld from the benefits provided under this Agreement.

         8.6  Applicable  Law. The Agreement and all rights  hereunder  shall be
governed  by the laws of the  State  of South  Carolina,  except  to the  extent
preempted by the laws of the United States of America.

<PAGE>

         8.7 Unfunded  Arrangement.  The  Executive and any  beneficiary  of the
Executive  are  general  unsecured  creditors  of the Company for the payment of
benefits  under this  Agreement.  This  Agreement  shall  always be an  unfunded
arrangement.  The benefits represent the mere promise by the Company to pay such
benefits.  The rights to benefits are not subject in any manner to anticipation,
alienation,  sale, transfer,  assignment,  pledge,  encumbrance,  attachment, or
garnishment by creditors.  Any insurance on the  Executive's  life, if any, is a
general  asset  of the  Company  to  which  the  Executive  and the  Executive's
beneficiary  have  no  preferred  or  secured  claim.  Title  to and  beneficial
ownership of any cash or assets  Company may earmark to pay the Executive or his
beneficiary shall at all times remain with Company.

         8.8 Entire Agreement.  This Agreement  constitutes the entire agreement
between the Company and the Executive as to the subject matter hereof. No rights
are  granted  to the  Executive  by virtue of this  Agreement  other  than those
specifically set forth herein.

         8.9  Administration.  The Company shall have powers which are necessary
to administer this Agreement, including but not limited to:

                  8.9.1 Interpreting the provisions of the Agreement;

                  8.9.2  Establishing  and revising the method of accounting for
         the Agreement;

                  8.9.3  Maintaining  a record of  benefit  payments;  and 8.9.4
         Establishing  rules and prescribing any forms necessary or desirable to
         administer the Agreement.

         8.10 Named Fiduciary.  For purposes of the Employee  Retirement  Income
Security Act of 1974, if  applicable,  the Company shall be the named  fiduciary
and plan administrator under the Agreement.  The named fiduciary may delegate to
others certain  aspects of the management and operation  responsibilities  under
this  Agreement  including  the  employment  of advisors and the  delegation  of
ministerial  duties to qualified  individuals.

         8.11 No Trust  Created.  Nothing  contained in this  Agreement,  and no
action taken  pursuant to its  provisions by either party hereto,  shall create,
nor be  construed  to create,  a trust of any kind or a  fiduciary  relationship
between the Company and the  Executive,  his designated  beneficiary,  any other
beneficiary of the Executive or any other person.

         8.12 Date of Birth. The Executive hereby represents to the Company that
his date of birth is November 17, 1952.

<PAGE>

       IN WITNESS WHEREOF,  the Executive and a duly authorized  Company officer
have executed and sealed this Agreement as of the date first above written.

Witnesses:                                            Company:

                                                 FIRST SOUTH BANK

s/ Jean P. Ellison                              By:  s/ V. Lewis Shuler
---------------------------                          ------------------

s/ Melissa K. Littlefield                        Its: Executive Vice President
---------------------------                           ------------------------

s/ Rebecca R. Davis                              EXECUTIVE:
---------------------------

                                                 s/ Barry L. Slider
                                                 ------------------------------
                                                  Barry L. Slider

<PAGE>

                             BENEFICIARY DESIGNATION

                             FIRST SOUTH BANK SALARY
                             CONTINUATION AGREEMENT

                                 BARRY L. SLIDER

 I designate  the  following as  beneficiary  of any death  benefits  under this
Salary Continuation Agreement:

 Primary: Dorothy L. Slider

Contingent:  The trustee  under mv will dated June 3. 1999. as amended from time
to time

Note:    To  name a  trust  as  beneficiary,  please  provide  the  name  of the
         trustee(s) and the exact name and date of the trust agreement.

 I understand that I may change these  beneficiary  designations by filing a new
 written   designation  with  the  Company,   I  further   understand  that  the
 designations will be automatically  revoked if the beneficiary  predeceases me,
 or, if I have named my spouse as beneficiary  and our marriage is  subsequently
 dissolved.

Signature s/ Barry L. Slider
          -------------------
Date  11/19/99

Accepted by the Company this   19th day of   November    1999

By s/ V. Lewis Shuler
   ---------------------

Title Executive Vice President

<PAGE>

                                First South Bank
                                 Barry L. Slider

                      Salary Continuation Plan - Schedule A

<TABLE>
<CAPTION>
                               Early Term.                  Early Termination        Change of Control         Disability
 Plan  Benefit      Accrual      Vesting     Vested          Annual Benefit          Annual Benefit         Annual Benefit
 Year   Level       Balance     Schedule    Benefit          Payable at 65            Payable at 65       Payable Immediately
 ----   -----       -------     --------    -------          -------------            -------------       -------------------
<S>    <C>          <C>           <C>        <C>                <C>                     <C>                      <C>
 1     45,230       11,030        100%       45,230             45,230                  45,230                   1,118
 2     46,135       23,161        100%       46,135             46,135                  46,135                   2,348
 3     47,057       36,509        100%       47,057             47,057                  47,057                   3,702
 4     47,998       51,205        100%       47,998             47,998                  47,998                   5,192
 5     48,958       67,397        100%       48,958             48,958                  48,958                   6,834
 6     49,938       85,252        100%       49,938             49,938                  49,938                   8,644
 7     50,936       104,958       100%       50,936             50,936                  50,936                   10,642
 8     51,955       126,731       100%       51,955             51,955                  51,955                   12,850
 9     52,994       150,818       100%       52,994             52,994                  52,994                   15,292
 10    54,054       177,504       100%       54,054             54,054                  54,054                   17,998
 11    55,135       207,125       100%       55,135             55,135                  55,135                   21,002
 12    56,238       240,076       100%       56,238             56,238                  56,238                   24,343
 13    57,363       276,838       100%       57,363             57,363                  57,363                   28,070
 1-1   58,510       318,005       100%       58,510             58,510                  58,510                   32,245
 15    59,680       364,344       100%       59,680             59,680                  59,680                   36,943
 16    60,874       416,902       100%       60,874             60,874                  60,874                   42,273
 17    62,091       477,248       100%       62,091             62,091                  62,091                   48,391
 18    63,333       548,173       100%       63,333             63,333                  63,333                   55,583
 19    64,600       637,097       100%       64,600             64,600                  64,600                   64,600
</TABLE>

<PAGE>

                               FIRST AMENDMENT TO
                 FIRST SOUTH BANK SALARY CONTINUATION AGREEMENT

         THIS  AMENDMENT is made this 27 day of April,  2000, by and between the
First South Bank,  a state bank  located in  Spartanburg,  South  Carolina  (the
"Company"), and BARRY L. SLIDER (the "Executive).

         WITNESSETH:

         WHEREAS,   the  Executive  and  the  Company   entered  into  a  Salary
Continuation Agreement (the "Agreement") dated November 19, 1999; and

         WHEREAS,  the  Executive  and the Company are  desirous of amending the
language to the Agreement.

         NOW, THEREFORE, in consideration of the premises, the Executive and the
Company agree to amend the "Agreement" as follows: Paragraph 1.1.8 is amended to
read as follows: 1.1.8 "EffectiveDate" weans November 1, 1999. Except as amended
herein, the Agreement remains in full force and effect.

         IN WITNESS WHEREOF, the parties hereto have entered into this Amendment
on the date and year first above written.

EXECUTIVE:                                      COMPANY:

                                                FIRST SOUTH BANK

s/ Barry L. Slider                              By: s/V. Lewis Shuler
---------------------                               ----------------------------
Barry L. Slider
 COMPANY:                                       Title: Executive Vice President

<PAGE>

                               SECOND AMENDMENT TO
                 FIRST SOUTH BANK SALARY CONTINUATION AGREEMENT

       THIS SECOND  AMENDMENT  executed on this 19th day of June,  2001,  by and
between FIRST SOUTH BANK, located in Spartanburg, South Carolina (the "Company")
and BARRY L. SLIDER (the "Executive").

       WITNESSETH:

       WHEREAS,  the Executive and the Company entered into the FIRST SOUTH BANK
SALARY  CONTINUATION  AGREEMENT on November 19, 1999,  and on April 27, 2000 the
Company and the  Executive  executed a FIRST  AMENDMENT  TO THE FIRST SOUTH BANK
SALARY CONTINUATION AGREEMENT (the "Agreement").

       WHEREAS,  the  Executive  and the  Company are  desirous of amending  the
language to the Agreement.

       NOW, THEREFORE,  in consideration of the premises,  the Executive and the
Company agree to amend the "Agreement" as follows:

Paragraph 1.1.11 is amended to read as follows:

              1.1.11  "Plan  Year" means a  twelve-month  period  commencing  on
       November 1 and  ending on  October  31 of each year.  The first Plan Year
       shall commence on the Effective Date of this Agreement.

Paragraph 2.3.1 is amended to read as follows;

              2.3.1 Amount of Benefit. The benefit under this Section 2.3 is the
Disability  Annual  Benefit  amount  set forth in  Schedule  A for the Plan Year
ending  immediately  prior to the date in which the  Termination  of  Employment
occurs.

        Except as  amended  herein,  the  Agreement  remains  in full  force and
effect.

       IN WITNESS  WHEREOF,  the parties  hereto have  entered  into this Second
Amendment on the date and year first above written.

       EXECUTIVE                                     COMPANY:

                                                     FIRST SOUTH BANK

       s/ Barry L. Slider                            By V. Lewis Shuler
       ------------------                               ---------------

       Barry L. Slider                               Title EVP & CFO
                                                           ---------

<PAGE>

                                 THIRD AMENDMENT
                                     TO THE
                 FIRST SOUTH BANK SALARY CONTINUATION AGREEMENT
                        DATED NOVEMBER 19,1999 AND AMENDED
                         APRIL 27,2000 AND JUNE 19, 2001
                                  FOR BARRY L.
                                     SLIDER

         THIS  THIRD  AMENDMENT  is  adopted  this  20th  day of  March ,  2007,
effective as of January 1, 2005,  by and between  First South Bank, a state bank
located in Spartanburg,  South Carolina (the "Company") and Barry L. Slider (the
"Executive").

         The  Company  and  the  Executive  executed  the  Salary   Continuation
Agreement on November 19, 1999  effective as of November 1, 1999, and executed a
First Amendment on April 27, 2000, and a Second  Amendment on June 19, 2001 (the
"Agreement").

         The parties intend this Third  Amendment to be a material  modification
of the Agreement  such that all amounts  earned and vested prior to December 31,
2004 shall be subject to the provisions of Code Section 409A.

         The undersigned  hereby amend the Agreement for the purpose of bringing
the Agreement into  compliance  with Section 409A of the Internal  Revenue Code.
Therefore, the following changes shall be made:

          Section  1.1.5 of the  Agreement  shall be deleted in its entirety and
replaced by the following:

 1.1.5    "Disability"  means  the  Executive:  (i) is  unable  to engage in any
          substantial  gainful activity by reason of any medically  determinable
          physical or mental impairment which can be expected to result in death
          or can be  expected to last for a  continuous  period of not less than
          twelve  (12)  months;   or  (ii)  is,  by  reason  of  any   medically
          determinable  physical or mental  impairment  which can be expected to
          result in death or can be expected to last for a continuous  period of
          not  less  than  twelve  (12)  months,  receiving  income  replacement
          benefits  for a period of not less  than  three  (3)  months  under an
          accident  and health  plan  covering  employees  or  directors  of the
          Company. Medical determination of Disability may be made by either the
          Social  Security  Administration  or by the provider of an accident or
          health plan  covering  employees or directors of the Company  provided
          that the  definition  of  "disability"  applied  under such  insurance
          program complies with the requirements of the preceding sentence. Upon
          the request of the Plan Administrator, the Executive must submit proof
          to the Plan Administrator of the Social Security  Administration's  or
          the provider's determination.

<PAGE>

          The  following  Section  1.1.11a  shall  be  added  to  the  Agreement
 immediately following Section 1.1.11:

IA.11a.  "Specified Employee" means a key employee (as defined in Section 416(i)
         of the Code  without  regard to  paragraph 5 thereof) of the Company if
         any  stock  of  the  Company  is  publicly  traded  on  an  established
         securities market or otherwise.

          Section  1.1.13 of the Agreement  shall be deleted in its entirety and
replaced by the following:

1.1.13   "Termination  of Employment"  means the  termination of the Executive's
         employment  with the Company for  reasons  other than death.  Whether a
         Termination of Employment  takes place is determined based on the facts
         and  circumstances  surrounding  the  termination  of  the  Executive's
         employment  and whether the Company and the Executive  intended for the
         Executive to provide  significant  services  for the Company  following
         such  termination.  A change in the Executive's  employment status will
         not be  considered a Termination  of  Employment  if:

         (a)      the Executive  continues to provide services as an employee of
                  the Company at an annual rate that is twenty  percent (20%) or
                  more  of  the  services  rendered,  on  average,   during  the
                  immediately  preceding three full calendar years of employment
                  (or, if employed  less than three years,  such lesser  period)
                  and the  annual  remuneration  for  such  services  is  twenty
                  percent  (20%)  or more  of the  average  annual  remuneration
                  earned  during  the  final  three  full   calendar   years  of
                  employment (or, if less, such lesser period), or

         (b)      the Executive  continues to provide services to the Company in
                  a capacity  other  than as an  employee  of the  Company at an
                  annual  rate  that  is  fifty  percent  (50%)  or  more of the
                  services   rendered,   on  average,   during  the  immediately
                  preceding  three  full  calendar  years of  employment  (or if
                  employed  less than three years,  such lesser  period) and the
                  annual  remuneration  for such services is fifty percent (50%)
                  or more of the average annual  remuneration  earned during the
                  final three full  calendar  years of  employment  (or if less,
                  such lesser period).

          The  following   Section  1.1.14  shall  be  added  to  the  Agreement
 immediately following Section 1.1.13:

 1.1.14   " Unforeseeable  Emergency" means a severe  financial  hardship to the
          Executive resulting from an illness or accident of the Executive,  the
          Executive's  spouse,  or the  Executive's  dependent  (as  defined  in
          Section 152(a) of the Code),  loss of the Executive's  property due to
          casualty,   or   other   similar   extraordinary   and   unforeseeable
          circumstances  arising as a result of events beyond the control of the
          Executive.

<PAGE>

          Section  2.3.2 of the  Agreement  shall be deleted in its entirety and
replaced by the following:

 2.3.2    Payment of Benefit. The Company shall pay the annual benefit amount to
          the Executive in equal and consecutive monthly installments payable on
          the  first  day of each  month  commencing  with the  month  following
          Termination of Employment and continuing for two-hundred fifteen (215)
          additional  months,  for a total of two-hundred  sixteen (216) monthly
          payments.

          The  following  Sections  2.5,  2.6, 2.7 and 2.8 shall be added to the
 Agreement immediately following Section 2.4.2:

2.5       Restriction on Timing of Distributions.  Notwithstanding any provision
          of this  Agreement to the  contrary,  if the Executive is considered a
          Specified  Employee at Termination of Employment under such procedures
          as established  by the Company in accordance  with Section 409A of the
          Code,  benefit   distributions  that  are  made  upon  Termination  of
          Employment may not commence earlier than six (6) months after the date
          of such  Termination  of  Employment.  Therefore,  in the  event  this
          Section 2.5 is applicable to the  Executive,  any  distribution  which
          would  otherwise be paid to the Executive  within the first six months
          following the Termination of Employment  shall be accumulated and paid
          to the  Executive in a lump sum on the first day of the seventh  month
          following the Termination of Employment.  All subsequent distributions
          shall be paid in the manner specified.

2.6       Distributions  Upon Income  Inclusion  Under Section 409A of the Code.
          Upon the  inclusion  of any amount  into the  Executive's  income as a
          result of the failure of this non qualified deferred compensation plan
          to comply with the  requirements  of Section 409A of the Code,  to the
          extent such tax liability can be covered by the entire amount  accrued
          by the Company with respect to the Company's obligations  hereunder, a
          distribution shall be made as soon as is administratively  practicable
          following the discovery of the plan failure.

2.7       Change in Form or Timing of Distributions.  All changes in the form or
          timing of  distributions  hereunder  must  comply  with the  following
          requirements. The changes:

                  (a)      may  not  accelerate  the  time  or  schedule  of any
                           distribution,  except as provided in Section 409 A of
                           the Code and the regulations thereunder;

                  (b)      must, for benefits  distributable under Sections 2.1,
                           2.2,  2.3  and  2.4,   delay  the   commencement   of
                           distributions  for a minimum  of five (5) years  from
                           the  date  the  first   distribution  was  originally
                           scheduled to be made; and

                  (c)      must take  effect not less than  twelve  (12)  months
                           after the election is made.

 2.8      Hardship  Distribution.  The Company may make a hardship  distribution
          under the  circumstances  described in Section  2.8.1 below.  Any such
          distribution  shall require the adjustment  described in Section 2.8.2
          to any amounts to be paid under Article 2 or 3.

<PAGE>

         2.8.1    Application  for and Amount of  Hardship  Distribution.  If an
                  Unforeseeable  Emergency  occurs,  the Executive would then be
                  entitled to receive a distribution  under the  Agreement,  but
                  not before January 1, 2008.  The Company's  Board of Directors
                  ("the Board") shall make such distribution upon application by
                  the  Executive.  If applied for by  Executive,  the  Executive
                  shall receive, within sixty (60) days, a Hardship Distribution
                  from the Agreement (i) only to the extent deemed  necessary by
                  the  Board to  remedy  the  Unforeseeable  Emergency,  plus an
                  amount  necessary  to pay taxes  reasonably  anticipated  as a
                  result of the distribution; and (ii) after taking into account
                  the extent to which such Unforeseeable  Emergency is or may be
                  relieved through reimbursement or compensation by insurance or
                  otherwise or by liquidation of the Executive's  assets (to the
                  extent the liquidation would not itself cause severe financial
                  hardship).  In any event, the maximum amount which may be paid
                  out pursuant to this Section 2.8 is the amount the Company has
                  accrued with respect to the Company's obligations hereunder as
                  of the day that the Executive  petitioned the Board to receive
                  a Hardship  Distribution  under this  Section.

         2.8.2    Benefit Adjustment.  At the time of any Hardship Distribution,
                  the  amount  the  Company  has  accrued  with  respect  to the
                  Company's obligations hereunder shall be reduced by the amount
                  of the Hardship Distribution and the benefits to be paid under
                  Article  2 or  Article 3 hereof  shall  reflect  such  reduced
                  amount.

         Section 5.1 of the Agreement shall be deleted in its entirety.

         Article  7 of the  Agreement  shall  be  deleted  in its  entirety  and
replaced by the following:

                                    Article 7

                           Amendments and Termination
7.1      Amendments.  This Agreement may be amended only by a written  agreement
         signed by the  Company  and the  Executive.  However,  the  Company may
         unilaterally amend this Agreement to conform with written directives to
         the Company from its auditors or banking  regulators  or to comply with
         legislative  changes or tax law,  including without  limitation Section
         409A of the  Code and any and all  Treasury  regulations  and  guidance
         promulgated thereunder.

7.2      Plan Termination Generally.  This Agreement may be terminated only by a
         written agreement signed by the Company and the Executive.  The benefit
         hereunder  shall be the amount the Company has accrued  with respect to
         the  obligations  hereunder as of the date the Agreement is terminated.
         Except as provided in Section 7.3, the  termination  of this  Agreement
         shall  not cause a  distribution  of  benefits  under  this  Agreement.
         Rather,  after such termination  benefit  distributions will be made at
         the earliest distribution event permitted under Article 2 or Article 3.

7.3      Plan Terminations Under Section 409A,  Notwithstanding  anything to the
         contrary in Section 7.2, if this Agreement  terminates in the following
         circumstances:

<PAGE>

         (a)      Within thirty (30) days before,  or twelve (12) months after a
                  change in the  ownership or effective  control of the Company,
                  or in the ownership of a substantial  portion of the assets of
                  the Company as  described in Section  409A(a)(2)(A)(v)  of the
                  Code,  provided that all  distributions are made no later than
                  twelve (12) months following such termination of the Agreement
                  and further provided that all the Company's arrangements which
                  are  substantially  similar to the Agreement are terminated so
                  the Executive and all participants in the similar arrangements
                  are required to receive all amounts of  compensation  deferred
                  under the terminated arrangements within twelve (12) months of
                  the termination of the arrangements;

         (b)      Upon  the  Company's  dissolution  or with the  approval  of a
                  bankruptcy  court provided that the amounts deferred under the
                  Agreement are included in the Executive's  gross income in the
                  latest  of (i)  the  calendar  year  in  which  the  Agreement
                  terminates;  (ii) the calendar  year in which the amount is no
                  longer subject to a substantial  risk of forfeiture;  or (iii)
                  the  first  calendar  year  in  which  the   distribution   is
                  administratively practical; or

         (c)      Upon  the  Company's   termination   of  this  and  all  other
                  non-account  balance  plans (as  referenced in Section 409A of
                  the Code or the  regulations  thereunder),  provided  that all
                  distributions  are made no earlier than twelve (12) months and
                  no  later  than   twenty-four   (24)  months   following  such
                  termination,   and  the   Company   does  not  adopt  any  new
                  non-account  balance  plans  for a  minimum  of five (5) years
                  following the date of such termination;

         the Company may  distribute  the entire  amount  accrued by the Company
         with respect to the Company's obligations  hereunder,  determined as of
         the date of the  termination  of the  Agreement,  to the Executive in a
         lump sum subject to the above terms.

         The following Section 8.13 shall be added to the Agreement  immediately
following Section 8.12:

 8.13    Compliance  with Section  409A.  This  Agreement  shall at all times be
         administered  and the provisions of this Agreement shall be interpreted
         consistent  with the  requirements  of Section 409A of the Code and any
         and all regulations  thereunder,  including such  regulations as may be
         promulgated after the Effective Date of this Agreement.

         IN WITNESS OF THE ABOVE,  the Company and the Executive  hereby consent
to this Third Amendment.

Executive:                                      First South Bank

s/ Barry L. Slider                              By Michael L. Woodrum
------------------                                 ------------------

Barry L. Slider                                 Title HR and Training Director
                                                      ------------------------

<PAGE>

                                FOURTH AMENDMENT
                                     TO THE
                 FIRST SOUTH BANK SALARY CONTINUATION AGREEMENT
                             DATED NOVEMBER 19,1999
              AND AMENDED APRIL 27,2000 AND JUNE 19,2001
                                AND MARCH 20,2007
                                  FOR BARRY L.
                                     SLIDER

          THIS FOURTH  AMENDMENT is adopted this 28th day of September  2007, by
 and between  First  South  Bank,  a state bank  located in  Spartanburg,  South
 Carolina (the "Company") and Barry L. Slider (the "Executive").

          The  Company  and  the  Executive  executed  the  Salary  Continuation
 Agreement on November 19, 1999 effective as of November 1, 1999, and executed a
 First Amendment on April 27, 2000, and a Second  Amendment on June 19, 2001 and
 a Third Amendment on March 20, 2007 (the "Agreement").

          The parties intend this Fourth Amendment to be a material modification
 of the Agreement  such that all amounts earned and vested prior to December 31,
 2004 shall be subject to the provisions of Code Section 409A.

          The  undersigned  hereby amend the Agreement to reflect the final 409A
 Treasury Regulations. Therefore, the following changes shall be made:

          Section  1.13 of the  Agreement  shall be deleted in its  entirety and
replaced by the following:

 1.13     "Termination  of  Employment  means  termination  of  the  Executive's
          employment   with  the  Company  for  reasons   other  than  death  or
          Disability.  Whether a  termination  of  employment  has  occurred  is
          determined based on whether the facts and circumstances  indicate that
          the Company and the Executive  reasonably  anticipated that no further
          services would be performed  after a certain date or that the level of
          bona  fide  services  the  Executive  would  perform  after  such date
          (whether  as  an  employee  or  as an  independent  contractor)  would
          permanently  decrease  to no more  than  twenty  percent  (20%) of the
          average level of bona fide services  performed (whether as an employee
          or  an  independent   contractor)   over  the  immediately   preceding
          thirty-six  (36) month  period (or the full  period of services to the
          Company if the  Executive has been  providing  services to the Company
          less than thirty-six (36) months).

          Sections  2.3,  2.3.1 and 2.3.2 of the  Agreement  shall be deleted in
 their entirety and replaced by the following:

 2.3      Disability Benefit. If the Executive experiences a Disability prior to
          Normal  Retirement  Age, the Company  shall pay to the  Executive  the
          benefit  described  in this  Section 2.3 in lieu of any other  benefit
          under this Agreement.

<PAGE>

2.3.1    Amount of Benefit. The benefit under this Section 2.3 is the Disability
         Annual  Benefit amount set forth on Schedule A for the Plan Year ending
         immediately prior to such Disability.
2.3.2    Payment of Benefit.  The Company shall pay the annual benefit amount to
         the Executive in equal and consecutive monthly  installments payable on
         the first day of each month  commencing  with the month  following such
         Disability  and  continuing for  two-hundred  fifteen (215)  additional
         months, for a total of two-hundred sixteen (216) monthly payments.

          Section 2.4.2 of the Agreement  shall be deleted in their entirety and
replaced by the following:

 2.4.2    Payment of Benefit. The Company shall pay the annual benefit amount to
          the Executive in equal and consecutive monthly installments payable on
          the first day of each month commencing with the month following Normal
          Retirement Age and continuing for two hundred fifteen (215) additional
          months, for a total of two hundred sixteen (216) monthly payments.

          Section  2.7 of the  Agreement  shall be deleted in its  entirety  and
replaced by the following:

 2.7      Change in Form or Timing of Distributions.  All changes in the form or
          timing of  distributions  hereunder  must  comply  with the  following
          requirements. The changes:

                  (a)      may  not  accelerate  the  time  or  schedule  of any
                           distribution,  except as provided in Section 409 A of
                           the Code and the regulations thereunder;

                  (b)      must, for benefits  distributable  under Sections 2.2
                           and 2.4, be made at least twelve (12) months prior to
                           the first scheduled distribution;

                  (c)      must, for benefits  distributable under Sections 2.1,
                           2.2 and 2.4, delay the  commencement of distributions
                           for a  minimum  of five (5)  years  from the date the
                           first  distribution  was  originally  scheduled to be
                           made; and

                  (d)      must take  effect not less than  twelve  (12)  months
                           after the election is made.

          Section  7.3 of the  Agreement  shall be deleted in its  entirety  and
replaced by the following:

7.3 Plan  Terminations  Under  Section  409A.  Notwithstanding  anything  to the
contrary  in  Section  7.2,  if  this  Agreement  terminates  in  the  following
circumstances:

         (a) Within  thirty (30) days  before,  or twelve  (12)  months  after a
         change in the ownership or effective control of the Company,  or in the
         ownership  of a  substantial  portion of the  assets of the  Company as
         described in Section  409A(a)(2)(A)(v)  of the Code,  provided that all
         distributions  are made no later than twelve (12) months following such

<PAGE>

         termination  of  the  Agreement  and  further  provided  that  all  the
         Company's arrangements which are substantially similar to the Agreement
         are  terminated so the Executive  and all  participants  in the similar
         arrangements  are  required  to receive  all  amounts  of  compensation
         deferred under the terminated arrangements within twelve (12) months of
         the termination of the arrangements;

         (b) Upon the Company's dissolution or with the approval of a bankruptcy
         court  provided  that the  amounts  deferred  under the  Agreement  are
         included  in the  Executive's  gross  income  in the  latest of (i) the
         calendar year in which the Agreement terminates; (ii) the calendar year
         in which the  amount  is no longer  subject  to a  substantial  risk of
         forfeiture;  or (iii) the first calendar year in which the distribution
         is administratively practical; or

         (c) Upon the Company's  termination of this and all other  arrangements
         that would be  aggregated  with this  Agreement  pursuant  to  Treasury
         Regulations Section  1.409A-l(c) if the Executive  participated in such
         arrangements   ("Similar   Arrangements"),   provided   that   (i)  the
         termination and  liquidation  does not occur proximate to a downturn in
         the financial health of the Company, (ii) all termination distributions
         are  made  no  earlier  than  twelve  (12)  months  and no  later  than
         twenty-four  (24)  months  following  such  termination,  and (iii) the
         Company  does not adopt  any new  arrangement  that  would be a Similar
         Arrangement  for a minimum  of three (3) years  following  the date the
         Company  takes  all  necessary  action  to  irrevocably  terminate  and
         liquidate  the  Agreement;  the Company may  distribute  the amount the
         Company  has  accrued  with  respect  to  the   Company's   obligations
         hereunder,  determined  as of  the  date  of  the  termination  of  the
         Agreement, to the Executive in a lump sum subject to the above terms.

         (d) Schedule A shall be deleted in its  entirety and replaced  with the
         following Schedule A.

IN WITNESS OF THE ABOVE,  the Company and the Executive  hereby  consent to this
Fourth Amendment.

Executive                                         First South Bank

s/ Barry L. Slider                                By s/ V. Lewis Shuler
---------------------------                          ------------------
Barry L. Slider                                   Title EVP/CFOExhibit 10.4.5.

                     FIRST SOUTH BANK SPLIT DOLLAR AGREEMENT

       THIS AGREEMENT is made and entered into this 19th day of November,  1999,
by and between FIRST SOUTH BANK, a state  chartered  commercial  bank located in
Spartanburg,  South Carolina (the "Company"),  and DOROTHY L. SLIDER, as Trustee
of the BARRY L. SLIDER  IRREVOCABLE  TRUST  AGREEMENT  dated June  23,1999  (the
"Trust").  This Agreement shall append the Split Dollar Endorsement entered into
on November 19, 1999, by and between the aforementioned parties.

                                  INTRODUCTION

       WHEREAS, BARRY L. SLIDER (the "Executive") has contributed  substantially
 to the success of the Company.  The Company, as a fringe benefit, is willing to
 divide the death proceeds of a life insurance  policy on the Executive's  life.
 The Company will pay life insurance premiums from its general assets.

                                    Article 1

                               General Definitions

 The following terms shall have the meanings specified:

     1.1 "Insured" means the Executive.

     1.2 "Insurer" means Jefferson Pilot Life Insurance Company.

     1.3  "Normal  Retirement  Age"  means  the  Executive's   sixty-fifth  (65)
birthday.

     1.4 "Policy" means insurance policy # JP 5081391 issued by the Insurer.

     1.5 "Termination of Employment"  means the Executive ceasing to be employed
by the  Company  for any  reason  whatsoever,  other  than by  reason  of (a) an
approved leave of absence,  (b) the Executive's  death,  (c) a change of control
(as  defined in the Salary  Continuation  Agreement  between the Company and the
Executive  effective  January  1,1999),  or (d) the  Executive's  disability (as
defined in said Salary Continuation Agreement).

     1.6 "Trustee " refers to the trustee or trustees of the Trust.

<PAGE>

                                    Article 2

                           Policy Ownership/Interests

     2.1  Company  Ownership.  The  Company  is the sole owner of the Policy and
shall have the right to exercise all incidents of  ownership.  The Company shall
be the direct  beneficiary  of an amount of death  proceeds equal to the greater
of: (a) the cash surrender  value of the Policy plus the amount from Schedule A.
or (b) the  aggregate  premiums  paid on the  Policy  by the  Company  less  any
outstanding indebtedness to the Insurer.

     2.2 Trust's  Interest.  The Trust shall be the beneficiary of any remaining
death  proceeds of the Policy after  payment of the amount due the Company under
Section 2.2. The Trust shall also have the right to elect and change  settlement
options that may be permitted.  Provided,  however, the Executive,  the Trust or
its transferee  beneficiary shall have no rights or interests in the Policy with
respect to that  portion of the death  proceeds  designated  in this Section 2.2
upon the Executive's  Termination of Employment prior to Normal  Retirement Age.

     2.3 Option to Purchase.  The Company shall not sell,  surrender or transfer
ownership of the Policy while this  Agreement is in effect  without first giving
the Trust or the  Trust's  transferee  the option to  purchase  the Policy for a
period of sixty (60) days from written  notice of such  intention.  The purchase
price shall be an amount equal to the cash surrender  value of the Policy.  This
provision shall not impair the right of the Company to terminate this Agreement.

     2.4  Comparable   Coverage.   Upon  Termination  of  Employment  after  the
Executive's Normal Retirement Age, the Company shall maintain the Policy in full
force and effect and in no event shall the Company amend, terminate or otherwise
abrogate  the Trust's  interest in the Policy,  unless the Company  replaces the
Policy with a comparable  insurance  policy to cover the benefit  provided under
this  Agreement.  The Policy or any  comparable  policy  shall be subject to the
claims of the Company's creditors.

                                    Article 3
                                    Premiums

     3.1 Premium Payment. The Company shall pay any premiums due on the Policy.

     3.2 Imputed Income.  The Company shall impute income to the Executive in an
amount equal to the current term rate for the  Executive's age multiplied by the
aggregate  death benefit payable to the  Executive's  beneficiary.  The "current
term rate" is the minimum  amount  required to be imputed under Revenue  Rulings
64-328 and 66-110, or any subsequent applicable authority.

<PAGE>

                                    Article 4
                                   Assignment

       The Trust may assign  without  consideration  all interests in the Policy
and in this  Agreement  to any  person,  entity or other  trust  other  than the
Executive.  In the event the Trust  shall  transfer  all of its  interest in the
Policy,  then all of the  Trust's  interest  in the Policy and in the  Agreement
shall be vested in its transferee, who shall be substituted as a party hereunder
and the Trust shall have no further interest in the Policy or in this Agreement.

                                    Article 5
                                    Insurer

       The Insurer shall be bound only by the terms of the Policy.  Any payments
 the Insurer makes or actions it takes in accordance with the Policy shall fully
 discharge it from all claims, suits and demands of all entities or persons. The
 Insurer shall not be bound by or be deemed to have notice of the  provisions of
 this Agreement.

                                    Article 6
                                    Executive

       The  Executive is not a party to this  Agreement or to the  corresponding
Endorsement.  Except as otherwise  provided herein,  the Executive shall have no
rights, title or interest hereunder.  Specifically,  the Executive shall have no
right to cancel, surrender or assign the Policy, change the beneficiary,  revoke
any  assignment  affecting  the Policy,  pledge the Policy for a loan, or obtain
from the Insurer a loan against the cash surrender value of the Policy.

                                    Article 7

                                Claims Procedure

        7.1 Claims  Procedure.  The Company shall notify the Trust,  the Trust's
 transferee or beneficiary, or any other party who claims a right to an interest
 under the Agreement (the "Claimant') in writing, within ninety (90) days of his
 or  her  written  application  for  benefits,  of his  or  her  eligibility  or
 ineligibility for benefits under this Agreement. If the Company determines that
 the Claimant is not eligible  for benefits or full  benefits,  the notice shall
 set forth (a) the specific reasons for such denial, (b) a specific reference to
 the  provisions  of  this  Agreement  on  which  the  denial  is  based,  (c) a
 description  of any  additional  information  or  material  necessary  for  the
 Claimant to perfect his or her claim,  and a  description  of why it is needed,
 and (d) an explanation of this  Agreement's  claims review  procedure and other
 appropriate  information as to the steps to be taken if the Claimant  wishes to
 have the claim  reviewed.  If the  Company  determines  that there are  special
 circumstances  requiring additional time to make a decision,  the Company shall
 notify  the  Claimant  of the  special  circumstances  and the  date by which a
 decision  is  expected  to be  made,  and  may  extend  the  time  for up to an
 additional ninety (90) days.

<PAGE>

        7.2 Review  Procedure,  If the Claimant is determined by the Company not
to be eligible  for  benefits,  or if the  Claimant  believes  that he or she is
entitled  to  greater  or  different  benefits,  the  Claimant  shall  have  the
opportunity  to have such claim reviewed by the Company by filing a petition for
review  with the  Company  within  sixty (60) days  after  receipt of the notice
issued by the Company.  Said petition shall state the specific reasons which the
Claimant  believes  entitle him or her to  benefits  or to greater or  different
benefits.  Within sixty (60) days after  receipt by the Company of the petition,
the Company shall afford the Claimant (and counsel,  if any) an  opportunity  to
present  his or her  position  to the  Company  orally  or in  writing,  and the
Claimant (or counsel)  shall have the right to review the  pertinent  documents.
The Company  shall  notify the  Claimant of its  decision in writing  within the
sixty (60) day period,  stating specifically the basis of its decision,  written
in a  manner  calculated  to be  understood  by the  Claimant  and the  specific
provisions of this Agreement on which the decision is based.  If, because of the
need for a hearing,  the sixty (60) day period is not  sufficient,  the decision
may be deferred  for up to another  sixty (60) day period at the election of the
Company, but notice of this deferral shall be given to the Claimant.

                                    Article 8

                           Amendments and Termination

       This Agreement may be amended or terminated  only by a written  agreement
 signed by the Company and the Trustee.  However,  unless otherwise agreed to by
 the Company and the Trust, this Agreement will automatically terminate upon the
 Executive's Termination of Employment prior to Normal Retirement Age.

                                    Article 9
                                 Miscellaneous

     9.1 Binding  Effect.  This Agreement  shall bind the Trust and the Company,
their beneficiaries,  survivors,  administrators and transferees, and any Policy
beneficiary.

     9.2 No Guarantee of Employment.  This Agreement is not an employment policy
or contract.  It does not give the  Executive the right to remain an employee of
the Company,  nor does it interfere  with the  Company's  right to discharge the
Executive.  This  Agreement  also does not  require the  Executive  to remain an
employee nor interfere with the Executive's right to terminate employment at any
time.  Nothing in this Agreement shall be construed as an employment  agreement,
either express or implied.

     9.3 Reorganization. The Company shall not merge or consolidate into or with
another  company,  or  reorganize,  or sell  substantially  all of its assets to
another  company,  firm or person unless such succeeding or continuing  company,
firm or person agrees to assume and discharge  the  obligations  of the Company.
Upon the occurrence of such event,  the term "Company" as used in this Agreement
shall be deemed to refer to the successor or survivor company.
<PAGE>

     9.4  Applicable  Law.  The  Agreement  and all  rights  hereunder  shall be
governed by and construed  according to the laws of the State of South Carolina,
except to the extent preempted by the laws of the United States of America.

     9.5 Notice. Any notice, consent or demand required or permitted to be given
under the  provisions  of this Split  Dollar  Agreement  by one party to another
shall be in writing, shall be signed by the party giving or making the same, and
may be given either by delivering the same to such other party personally, or by
mailing the same, by United States  certified  mail,  postage  prepaid,  to such
party, addressed to his or her last known address as shown on the records of the
Company.  The date of such  mailing  shall  be  deemed  the date of such  mailed
notice, consent or demand.

     9.6 Entire  Agreement.  This  Agreement  constitutes  the entire  agreement
between the Company and the Trust as to the subject matter hereof. No rights are
granted to the Trust by virtue of this Agreement  other than those  specifically
set forth herein.  9.7  Administration.  The Company shall have powers which are
necessary to administer this Agreement, including but not limited to:

     (a)  Interpreting the provisions of the Agreement;

     (b)  Establishing and revising the method of accounting for the Agreement;

     (c)  Maintaining a record of benefit payments; and

     (d)  Establishing rules and prescribing any forms necessary or desirable to
          administer the Agreement.

        9.8 Named  Fiduciary.  For  purposes of the Employee  Retirement  Income
Security Act of 1974, if  applicable,  the Company shall be the named  fiduciary
and plan administrator under the Agreement.  The named fiduciary may delegate to
others certain  aspects of the management and operation  responsibilities  under
this  Agreement  including  the  employment  of advisors and the  delegation  of
ministerial duties to qualified individuals.

<PAGE>

    IN WITNESS  WHEREOF,  the parties have executed  this  Agreement the day and
year first above written.

TRUST:                                               COMPANY:

BARRY L. SLIDER                                      FIRST SOUTH BANK
IRREVOCABLE TRUST AGREEMENT
DATED JUNE 23, 1999

By:  s/ Dorthy L. Slider                          By:  s/ V. Lewis Shuler
     ---------------------------------------           ----------------------
     DORTHY L. SLIDER, Trustee
                                                     Title:  EVP/CFO

<PAGE>

    SPLIT DOLLAR POLICY ENDORSEMENT FIRST SOUTH BANK SPLIT DOLLAR AGREEMENT

Policy No. JP 5081391                                   Insured: BARRY L. SLIDER

 Supplementing  and amending the  application  of August 12, 1999,  to Jefferson
 Pilot Life Insurance Company  ("Insurer"),  the applicant  requests and directs
 that:

                                  BENEFICIARIES

     (1)  FIRST  SOUTH  BANK,  a state  chartered  commercial  bank  located  in
Spartanburg,  South Carolina (the "Company"), shall be the direct beneficiary of
death  proceeds  equal to the  greater of: (a) the cash  surrender  value of the
Policy plus the amount from  Schedule A. or (b) the  aggregate  premiums paid on
the Policy by the Company less any outstanding indebtedness to the Insurer.

     (2) The  beneficiary  of any remaining  death  proceeds shall be DOROTHY L.
SLIDER, as TRUSTEE of the BARRY L. SLIDER IRREVOCABLE TRUST AGREEMENT dated June
23, 1999 (the "Trust") or the Trust's  transferee,  subject to the provisions of
paragraph (5) below.

                                    OWNERSHIP

         (3) The Owner of the policy shall be the Company.  The Owner shall have
 all ownership rights in the Policy except as may be specifically granted to the
 Trust or its transferee in paragraph (4) of this endorsement.

     (4) The Trust or its  transferee  shall have the right to assign all rights
and  interests in the Policy with respect to that portion of the death  proceeds
designated in paragraph (2) of this endorsement,  and to exercise all settlement
options with respect to such death proceeds.

     (5) Notwithstanding the provisions of paragraph (4) above, the Trust or its
transferee  shall have no rights or interests in the Policy with respect to that
portion of the death  proceeds  designated in paragraph (2) of this  endorsement
upon the Insured's  Termination  of Employment  prior to Normal  Retirement  Age
unless otherwise agreed to by the Company and the Executive.

            MODIFICATION OF ASSIGNMENT PROVISIONS OF THE POLICY

 Upon the death of the Insured,  the interest of any collateral  assignee of the
 Owner of the Policy  designated  in paragraph (3) above shall be limited to the
 portion of the proceeds described in paragraph (1) above.

<PAGE>

                                  MISCELLANEOUS

In the event of any  conflict  between  this  endorsement  and the Split  Dollar
Agreement  between the  parties of even date (the  "Agreement"),  the  Agreement
shall control.  All capitalized terms not defined in this endorsement shall have
the meaning assigned them in the Agreement.

                                OWNERS AUTHORITY

The  Insurer is hereby  authorized  to  recognize  the  Owner's  claim to rights
hereunder  without  investigating  the reason for any action taken by the Owner,
including its statement of the amount of premiums it has paid on the Policy. The
signature of the Owner shall be sufficient  for the exercise of any rights under
this  endorsement and the receipt of the Owner for any sums received by it shall
be a full discharge and release therefore to the Insurer.

Any transferee's rights shall be subject to this endorsement.  The Owner accepts
and agrees to this split dollar endorsement.

Signed at  Spartanburg,  South Carolina, this 19th day of November, 1999.

COMPANY:

FIRST SOUTH BANK

By: s/ V. Lewis Shuler
    ---------------------
   Its: EVP/CFO

The Trust  accepts  and agrees to the  foregoing  as direct  beneficiary  of the
portion of the proceeds described in paragraph (2) above.

Signed at Spartanburg, South Carolina, this 19th day of November, 1999.

TRUST:

BARRY L. SLIDER
IRREVOCABLE TRUST AGREEMENT
DATED JUNE 23, 1999

By: s/ Dorthy L. Slider
    -----------------------------------
    DOROTHY L. SLIDER, Trustee

<PAGE>

                                First South Bank
                                 Barry L. Slider
                     Split Dollar Agreement and Endorsement
                                   Schedule A

                   Policy Year                         Additional
                   In Which                            Death Benefit
                   Death                               to the
                   Occurs                              Company
                   ------                              -------
                   1                                   68,839
                   2                                   76,360
                   3                                   84,635
                   4                                   93,747
                   5                                   103,786
                   6                                   114,856
                   7                                   127,074
                   8                                   140,573
                   9                                   155,507
                   10                                  172,053
                   11                                  190,417
                   12                                  210,847
                   13                                  233,639
                   14                                  259,163
                   15                                  287,893
                   16                                  320,479
                   17                                  357,894
                   18                                  401,867
                   19                                  457,000
                   Thereafter                          457,000

                                                       Bank
                                                       Compensation
                                                       Strategies Group

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