Document:

EX-10.14

 Exhibit 10.14 

REUNION BANK OF FLORIDA 

DIRECTORS’ STOCK OPTION AGREEMENT 

THIS AGREEMENT (hereinafter “Agreement”) is entered into effective as of the
1st day of October, 2014 (the “Grant Date”), by and between Reunion Bank of Florida, a Florida banking corporation (hereinafter “Bank”), and
                            , currently serving as a director of the Bank (the “Bank”) (hereinafter
“Optionee”). 
 WITNESSETH: 

WHEREAS, Optionee is a director of the Bank, and the Bank considers it desirable and in the best interest that options to purchase the
Bank’s common stock be given to the Optionee as inducement to acquire a further proprietary interest in the Bank; and 
 WHEREAS, the
granting of options to purchase common stock of the Bank hereunder is in accordance with Reunion Bank of Florida Directors’ Stock Option Plan, and as the same may be amended from time to time. 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, the parties hereto agree as follows: 

ARTICLE I 
 Definitions 

As used in this Agreement, all terms which are defined in the Reunion Bank of Florida Directors’ Stock Option Plan, as the same may from
time to time be amended (the “Plan”), shall have the meanings specified in the Plan, unless otherwise specifically defined herein. 

ARTICLE II 
 Effective Date 

2.1 Effective Date. The effective date of this Agreement shall be the Grant Date. For purposes of this Agreement, the term
“Option” shall mean the option to purchase Stock granted to the Optionee pursuant to the Plan. 

 ARTICLE III 

Shares of Stock Subject to Option 

3.1 Number of Shares. Subject to adjustment pursuant to the provisions of Section 3.3 hereof, the Optionee may purchase up to
                     (            ) shares of Stock hereunder, which shall be issued and
sold by the Bank only upon exercise (in accordance with Section 4.2(b) of this Agreement) of the Option granted pursuant to Section 4.1 of this Agreement. 

3.2 Shares Issued Pursuant to this Agreement. Shares of Stock with respect to which the Option granted hereunder shall have been
exercised shall not again be available for Option hereunder. 
 3.3 Stock Adjustments; Mergers and Combinations. Notwithstanding any
other provision in this Agreement, if the outstanding shares of Stock are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Bank or of any other corporation by reason of any
merger, consolidation, liquidation, recapitalization, reclassification, stock split up, combination of shares, or stock dividend, the total number of shares subject to Option pursuant to this Agreement shall be proportionately and appropriately
adjusted by the Stock Option Committee. If the Bank continues in existence, the number and kind of shares that are subject to any Option and the Option Price per share shall be proportionately and appropriately adjusted without any change in the
aggregate price to be paid therefor upon exercise of the Option. If the Bank will not remain in existence or a majority of its stock will be purchased or acquired by a single purchaser or group of purchasers acting together, then the Stock Option
Committee may (i) declare that all Options shall terminate 30 days after the Stock Option Committee gives written notice to all Optionees of their immediate right to exercise all Options then outstanding (without regard to limitations on
exercise otherwise contained in the Options), or (ii) notify all Optionees that all Options granted under the Plan shall apply with appropriate adjustments as determined by the Stock Option Committee to the securities of the successor
corporation to which holders of the numbers of shares subject to such Options would have been entitled, or (iii) some combination of aspects of (i) and (ii). The determination by the Stock Option Committee as to the terms of any of the
foregoing adjustments shall be conclusive and binding. 
 3.4 Acceleration of Option Exercise. Subject to Section 3.3 and
following the third anniversary of the opening of the Bank, upon dissolution or liquidation of the Bank, any merger or combination in which the Bank is not a surviving corporation, or sale of substantially all of the assets of the Bank is involved,
or upon any Change of Control, the Optionee shall have the right to exercise the Option thereafter in whole or in part, notwithstanding the provisions of Section 4.2(b) hereof and the provisions of Section 5.3 of the Plan, to the extent
that the Option shall not have been exercised prior thereto. 

  
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 ARTICLE IV 

Option 
 4.1 Grant of the
Option. As of the Grant Date, the Optionee is hereby granted an Option to purchase
                    (            ) shares of Stock, subject to adjustment pursuant to the
provisions of Section 3.3 hereof. 
  

							
	4.2	 	  (a)    	 	Terms of Option. The Option shall expire on the tenth anniversary of the Grant Date. The Option Price of each share of Stock subject to the Option shall be eleven ($11.00) per share, subject to adjustment pursuant
to the provisions of Section 3.3 hereof.
			
		 	  (b)    	 	Option Exercise. The Option may be exercised in whole or in part from time to time with respect to whole shares only, within the period permitted for the exercise thereof. The Option shall become exercisable in
the following manner:
				
		 		 	(i)  	 	During the first year after the date of grant of the Options, twenty percent (20%) of the Options shall be exercisable;
				
		 		 	(ii)  	 	During the second year after the date of grant of such Options, forty percent (40%) of the Options shall be exercisable;
				
		 		 	(iii)    	 	During the third year after the date of grant of such Options, such Options shall be exercisable only to the extent of sixty percent (60%) of the shares covered by such Options;
				
		 		 	(iv)  	 	During the fourth year after the date of grant of such Options, such Options shall be exercisable only to the extent of eighty percent (80%) of the shares covered by such Options; and
				
		 		 	(v)  	 	During the fifth and each succeeding year after the date of grant of such Options, such Options shall be exercisable as to all shares covered by such Options.

 Notwithstanding any other provision in this Agreement, the Option may not be exercised after the expiration of
ten (10) years from its Grant Date. The Option shall be exercised by: (A) written notice of intent to exercise the Option with respect to a specific number of shares of Stock, which is delivered by hand delivery or registered or certified
mail, return receipt requested, to the Bank at its principal office, Attention: Corporate Secretary; and (B) payment in full (by a check or 

  
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money order payable to “Reunion Bank of Florida”) to the Bank at such office of the amount of the Option Price for the number of shares of Stock with respect to which the Option is then
being exercised. Each such notice of exercise shall be accompanied by any documents required by the Bank under Section 4.6 hereof. In addition to and at the time of payment of the Option Price, the Optionee shall pay to the Bank in cash the
full amount of all federal, state, and local withholding or other employment taxes, if any, applicable to the taxable income of the Optionee resulting from such exercise, and any sales, transfer, or similar taxes imposed with respect to the issuance
or transfer of shares of Stock in connection with such exercise. 
 4.3 Nontransferability of Option. No Option shall be transferred
by the Optionee otherwise than by will or the laws of descent and distribution. During the lifetime of the Optionee, the Option shall be exercisable only by him or by his legal guardian or personal representative, or by an individual holding on
behalf of the Optionee a valid Durable Power of Attorney. 
 4.4 Effect of Death, Disability, Retirement, or Other Termination of
Service. 
  

	 	(a)	If the Optionee’s Service with the Bank shall be terminated for any reason other than the retirement after age seventy-two (72) or the disability (as defined in the Plan) or death of the Optionee, then no
unexercised portion of the Option may be exercised on or after such termination of Services. 

  

	 	(b)	If the Optionee’s Service with the Bank shall be terminated by reason of retirement after age seventy-two (72) or death or disability (as defined in the Plan) or death of the Optionee, then the Optionee or
personal representative or administrator of the estate of the Optionee or the successor Trustee of the Optionee’s Trust containing dispositive provisions, or the person or persons to whom the Option granted hereunder shall have been validly
transferred by the personal representative or administrator pursuant to the Optionee’s will or the laws of descent and distribution, as the case may be, shall have the right to exercise the Optionee’s Option for ninety (90) days after
the date of such termination (one year in the case of death or disability), and to the extent of the full amount of the shares subject to such Options. 

  

	 	(c)	No transfer of the Option by the Optionee by will or by the laws of descent and distribution shall be effective to bind the Bank unless the Bank shall have been furnished with written notice thereof and an authenticated
copy of the will and/or such other evidence as the Bank may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions of the Option. 

  
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 4.5 Rights as Shareholder. The Optionee or a transferee of the Option shall have no rights
as a shareholder with respect to any shares of Stock subject to the Option prior to the purchase of such shares by exercise of the Option as provided herein. 

4.6 Optionee’s Intent as to Stock Acquired by Exercise of Option. The Optionee agrees that, upon or prior to the exercise of all
or any portion of the Option, the Optionee shall furnish to the Bank in writing such information or assurances as, in the Bank’s opinion, may be necessary to enable it to comply fully with the Securities Act of 1933, as amended, and the rules
and regulations thereunder and any other applicable statutes, rules, and regulations. Without limiting the foregoing, if a registration statement is not in effect under the Securities Act of 1933, as amended, with respect to the shares of Stock to
be issued upon exercise of the Option, the Optionee further agrees that the Bank shall have the right to require, as a condition to the exercise of the Option, that the Optionee represent to the Bank in writing that the shares to be received upon
exercise of the Option will be acquired by the Optionee for investment and not with a view to distribution and that the Optionee agree, in writing, that such shares will not be disposed of except pursuant to an effective registration statement,
unless the Bank shall have received an opinion of counsel reasonably acceptable to it to the effect that such disposition is exempt from the registration requirements of the Securities Act of 1933, as amended. The Optionee understands and agrees
that the Bank shall have the right to endorse on certificates representing shares of Stock issued upon exercise of the Option such legends referring to the foregoing representations and restrictions or any other applicable restrictions on resale or
disposition as the Bank, in its discretion, shall deem appropriate. 
 ARTICLE V 

Stock Certificates 
 The Bank
shall not be required to issue or deliver any certificate for shares of Stock purchased upon the exercise of the Option granted hereunder or any portion thereof, prior to fulfillment of all of the following conditions: 

 

	 	(a)	The admission of such shares to listing on all stock exchanges on which the Stock is then listed, if any; 

  

	 	(b)	The completion of any registration or other qualification of such shares under any federal or state law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory
agency, which the Bank shall in its sole discretion determine to be necessary or advisable; 

  

	 	(c)	The obtaining of any approval or other clearance from any federal or state governmental agency which the Bank shall in its sole discretion determine to be necessary or advisable; and 

  
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	 	(d)	The lapse of such reasonable period of time following the exercise of the Option as the Bank from time to time may establish for reasons of administrative convenience. 

ARTICLE VI 
 Termination,
Amendment, and Modification of Plan 
 The Board may at any time terminate, and may at any time and from time to time and in any respect
amend or modify, the Plan; provided, however, that no such action of the Board without approval of the shareholders of the Bank may increase the total number of shares of Stock subject to the Plan except as contemplated in Section 4.3 of the
Plan or alter the class of persons eligible to receive Options under the Plan, and provided further that no termination, amendment, or modification of the Plan shall without the written consent of the Optionee adversely affect the rights of the
Optionee with respect to the Option granted hereunder or the unexercised portion thereof. 
 Notwithstanding any other provision of this
Agreement, the Bank shall have the right (if directed by the Bank’s primary federal bank regulator) at any time to require the Optionee to exercise the Option or forfeit the Option, if the Bank’s capital falls below the minimum
requirements, as determined by such federal bank regulator. 
 ARTICLE VII 

Miscellaneous 
 7.1
Service. Nothing in this Agreement or the Option shall confer upon Optionee the right to continue in the Service of the Bank. 
 7.2
Other Compensation Plans. The adoption of the Plan and the execution of this Agreement shall not affect any other stock option or incentive or other compensation plans in effect for the Bank, nor shall the Plan or this Agreement preclude the
Bank from establishing any other forms of incentive or other compensation for directors, officers, or employees of the Bank. 
 7.3
Agreement Binding on Successors. This Agreement shall be binding upon the successors and assigns of the Bank and the Optionee. 
 7.4
Singular, Plural; Gender. Whenever used herein, nouns in the singular shall include the plural, and the masculine pronoun shall include the feminine gender. 

7.5 Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 

  
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 7.6 Headings. Headings of Articles and Sections hereof are inserted for convenience and
reference only; they constitute no part of this Agreement. 
 7.7 Severability. If any provision or provisions of this Agreement
shall be held to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

7.8 Notices. Unless otherwise specified herein, notices required or permitted to be given hereunder shall be in writing and shall be
mailed by registered or certified mail, return receipt requested, to the principal office of the Bank, Attention: Corporate Secretary (if notice is to the Bank) and to the Optionee at the Optionee’s address set forth below (if notice is to the
Optionee), or to such other person or such other address as any such party may designate by like notice to the other party, and shall be deemed given as of the date and time received. 

7.9 Counterparts. This Agreement may be executed in any number of counterparts, each of which, when so executed, shall be considered an
original, and all of which together shall constitute one and the same instrument. 
 7.10 Compliance with Section 409A of the
Code. To the extent applicable, it is intended that this Agreement and the Plan comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) do not apply to the Optionee. This
Agreement and the Plan shall be administered in a manner consistent with this intent, and any provision that would cause the Agreement or the Plan to fail to satisfy Section 409A of the Code shall have no force and effect until amended to
comply with Section 409A of the Code (which amendment may be retroactive to the extent permitted by Section 409A of the Code and may be made by the Bank without the consent of the Optionee). 

IN WITNESS WHEREOF, the parties hereto have set forth their hands and seals. 

 

			
	REUNION BANK OF FLORIDA
		
	 By:
	 	  

		 	Michael L. Sleaford
		 	President and Chief Executive Officer

 
			
	
	OPTIONEE
	
	  

		
	 Name:
	 	
		
	 Address:
	 	  

	
	  

  
 7EX-10.15

 Exhibit 10.15 

REUNION BANK OF FLORIDA 

OFFICERS’ AND EMPLOYEES’ STOCK OPTION PLAN 

ARTICLE I 
 Definitions 

As used herein, the following terms have the meanings hereinafter set forth unless the context clearly indicates to the contrary: 

(a) “Bank” shall mean Reunion Bank of Florida, a Florida corporation. 

(b) “Board” or “Board of Directors” shall mean the board of directors of the Bank. 

(c) “Change of Control” shall be deemed to have occurred if an entity or person (including a “Group”) as defined in
Section 13(d)(3) of the Securities Exchange Act of 1934, which is not a beneficial owner (as defined in Rule 13d-3 promulgated thereunder) of more than 10% of the outstanding Stock as of the date the Bank commences a banking business, becomes
the beneficial owner after such date of shares of Bank Stock having 50% or more of the total number of votes that may be cast for the election of directors of the Bank (excluding any transaction which results in the formation by the Bank of a bank
holding company owned substantially by all of the former shareholders of the Bank). 
 (d) “Code” shall mean the Internal Revenue
Code of 1986, as amended, unless otherwise specifically provided herein. 
 (e) “Employee” shall mean any individual who is
employed with the Bank as an officer or employee. 
 (f) “Incentive Stock Option” shall have the meaning given to it by
Section 422 of the Code. 
 (g) “Nonemployee Director” shall mean a member of the Board who is not an Employee. 

(h) “Nonstatutory Stock Option” shall mean any Option granted by the Bank pursuant to this Plan which is not an Incentive Stock
Option. 
 (i) “Option” shall mean an option to purchase Stock granted by the Bank pursuant to the provisions of this Plan. 

(j) “Option Price” shall mean the purchase price of each share of Stock subject to Option, as defined in Section 5.2 hereof.

 (k) “Optionee” shall mean an Employee who has received an Option granted by the Bank
hereunder. 
 (l) “Plan” shall mean this Reunion Bank of Florida Officers’ and Employees’ Stock Option Plan. 

(m) “Service” shall mean the tenure of an individual as an Employee of the Bank. For this purpose, an employee’s tenure shall
not be considered terminated in the case of sick leave, military leave, or any other leave of absence approved by the Bank if the period of such leave does not exceed three months, or, if the leave is longer than three months, so long as the
individual’s right to reemployment with the Bank, its parent or subsidiaries is provided either by statute or by contract. If the period of leave exceeds three months and the individual’s right to reemployment is not provided either by
statute or by contract, the tenure shall be considered terminated on the last day of such three month period. 
 (n) “Stock” shall
mean the common stock of the Bank, par value $5.00 per share, or, in the event that the outstanding shares of Stock are hereafter changed into or exchanged for shares of a different class of stock or securities of the Bank or some other corporation,
such other stock or securities. 
 (o) “Stock Option Agreement” shall mean the agreement between the Bank and the Optionee under
which the Optionee may purchase Stock pursuant to the Plan. 
 (p) “Stock Option Committee” shall mean such Board committee as may
be designated by the Board to administer the Plan. 
 ARTICLE II 

The Plan 
 2.1 Name. This
plan shall be known as the “Reunion Bank of Florida Officers’ and Employees’ Stock Option Plan.” 
 2.2 Purpose.
The purpose of the Plan is to advance the interests of the Bank and its shareholders by affording to the Employees of the Bank an opportunity to acquire or increase their proprietary interest in the Bank by the grant of Options to such Employees
under the terms set forth herein. By thus encouraging such Employees to become owners of Stock of the Bank, the Bank seeks to motivate, retain, and attract those highly competent individuals upon whose judgment, initiative, leadership, and continued
efforts the success of the Bank in large measure depends. 
 2.3 Effective Date. The Plan shall become effective on the later of the
approval of this Plan by (i) the Florida Office of Financial Regulation, or (ii) by the holders of a majority of the outstanding shares of Stock. 

2.4 Participants. Only Employees of the Bank shall be eligible to receive Options under the Plan. 

  
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 ARTICLE III 

Plan Administration 
 3.1
Stock Option Committee. This Plan shall be administered by the Stock Option Committee. 
 3.2 Power of the Stock Option
Committee. The Stock Option Committee shall have full authority and discretion: (a) to determine, consistent with the provisions of this Plan, which of the Employees will be granted Options to purchase any shares of Stock which may be
issued and sold hereunder as provided in Section 4.1 hereof, the times at which Options shall be granted, and the number of shares of Stock covered by each Option; (b) to determine whether the Options granted pursuant to this Plan shall be
Incentive Stock Options or Nonstatutory Stock Options; (c) to construe and interpret the Plan; (d) to determine the terms and provisions, of each respective Stock Option Agreement, which need not be identical; and (e) to make all
other determinations and take all other actions deemed necessary or advisable for the proper administration of the Plan. All such actions and determinations shall be conclusively binding upon all persons for all purposes. Unless otherwise indicated
by the Stock Option Committee, Options granted pursuant to this Plan shall be Incentive Stock Options. 
 ARTICLE IV 

Shares of Stock Subject to Plan 

4.1 Limitations. Subject to adjustment pursuant to the provisions of Section 4.3 hereof, the number of shares of Stock which may
be issued and sold hereunder pursuant to Stock Option Agreements shall not exceed Two Hundred Forty Eight Thousand Nine Hundred (248,900) shares, all of which may be issued and sold hereunder pursuant to Incentive Stock Option Agreements as the
Stock Option Committee determines. Shares issued pursuant to the exercise of Options shall be issuable only from authorized and unissued shares. 

4.2 Options Granted Under Plan. Shares of Stock with respect to which an Option granted hereunder shall have been exercised shall not
again be available for Option hereunder. If Options granted hereunder shall terminate for any reason without being wholly exercised, then the Stock Option Committee shall have the discretion to grant new Options to Optionees hereunder covering the
number of shares to which such terminated Options related. 
 4.3 Stock Adjustments; Mergers and Combinations. Notwithstanding any
other provision in this Plan, if the outstanding shares of Stock are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Bank or of any other

  
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corporation by reason of any merger, consolidation, liquidation, recapitalization, reclassification, stock split up, combination of shares, or stock dividend, the total number of shares set forth
in Section 4.1 shall be proportionately and appropriately adjusted by the Stock Option Committee. If the Bank continues in existence, the number and kind of shares that are subject to any Option and. the Option Price per share shall be
proportionately and appropriately adjusted without any change in the aggregate price to be paid therefor upon exercise of the Option. If the Bank will not remain in existence or a majority of its stock will be purchased or acquired by a single
purchaser or group of purchasers acting together, then the Stock Option Committee may (i) declare that all Options shall terminate 30 days after the Stock Option Committee gives written notice to all Optionees of their immediate right to
exercise all Options then outstanding (without regard to limitations on exercise otherwise contained in the Options), or (ii) notify all Optionees that all Options granted under the Plan shall apply with appropriate adjustments as determined by
the Stock Option Committee to the securities of the successor corporation to which holders of the numbers of shares subject to such Options would have been entitled, or (iii) some combination of aspects of (i) and (ii). The determination
by the Stock Option Committee as to the terms of any of the foregoing adjustments shall be conclusive and binding. 
 4.4 Acceleration of
Option Exercise. Subject to Section 4.3 and following the third anniversary of the opening of the Bank, upon dissolution or liquidation of the Bank, any merger or combination in which the Bank is not a surviving corporation, or sale of
substantially all of the assets of the Bank is involved, or upon any Change of Control, the Optionee shall have the right to exercise his Option thereafter in whole or in part notwithstanding the provisions of Section 5.3 hereof, to the extent
that it shall not have been exercised. 
 ARTICLE V 

Options 
 5.1 Option Grant and
Agreement. Each Option granted hereunder shall be evidenced by minutes of a meeting of the Stock Option Committee authorizing the same and by a written Stock Option Agreement dated as of the date of grant and executed by the Bank and the
Optionee, which Stock Option Agreement shall set forth such terms and conditions as may be determined by the Stock Option Committee to be consistent with the Plan and shall indicate whether the Option that it evidences is intended to be an Incentive
Stock Option or a Nonstatutory Stock Option. 
 5.2 Option Price. Subject to adjustment pursuant to the provisions of
Section 4.3 hereof, the Option Price of each share of Stock subject to Option shall be the fair market value of the Stock on the date of grant. If the Stock is publicly held and is regularly quoted by brokers or dealers making a market in the
Stock on an established securities market on the date of grant, then the fair market value of the Stock on the date of grant shall be determined by the Board of Directors consistent with the requirements of Section 409A of the Code. If the
Stock is not publicly held and actively traded in an established market on the date of grant, then the fair market value of the Stock on the date of grant shall be determined in good faith by the Board of Directors using any valuation method based
on the facts and circumstances as of the valuation date. Notwithstanding the foregoing, at no time shall the exercise price be less than the par value of the shares. 

  
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 5.3 Option Exercise. Options may be exercised in whole or in part from time to time with
respect to whole shares only, within the period permitted for the exercise thereof. Unless otherwise determined by the Stock Option Committee, each Option shall become exercisable in the following manner: 

 

	 	(i)	During the first year after the date of grant of the Options, twenty percent (20%) of the Options shall be exercisable; 

  

	 	(ii)	During the second year after the date of grant of such Options, forty percent (40%) of the Options shall be exercisable; 

  

	 	(iii)	During the third year after the date of grant of such Options, such Options; shall be exercisable only to the extent of sixty percent (60%) of the shares covered by such Options; 

 

	 	(iv)	During the fourth year after the date of grant of such Options, such Options shall be exercisable only to the extent of eighty percent (80%) of the shares covered by. such Options; and 

 

	 	(v)	During the fifth and each succeeding year after the date of grant of such Options, such Options shall be exercisable as to all shares covered by such Options. 

Notwithstanding any other provision in this Plan, no option granted under the Plan may be exercised at a rate greater than
33 1⁄3% each year during the first three years following the date of grant, and no option may be exercised more than ten (10) years after the date on
which it is granted. Options shall be exercised by: (i) written notice of intent to exercise the Option with respect to a specific number of shares of Stock which is delivered by hand delivery or registered or certified mail, return receipt
requested, to the Bank at its principal office; and (ii) payment in full (by a check or money order payable to “Reunion Bank of Florida”) to the Bank at such office of the amount of the Option Price for the number of shares of Stock
with respect to which the Option is then being exercised. In addition to and at the time of payment of the Option Price, the Optionee shall pay to the Bank in cash the full amount of all federal, state, and local withholding or other employment
taxes, if any, applicable to the taxable income of the Optionee resulting from such exercise, and any sales, transfer, or similar taxes imposed with respect to the issuance or transfer of shares of Stock in connection with such exercise. 

5.4 Nontransferability of Option. No Option shall be transferred by an Optionee otherwise than by will or the laws of descent and
distribution. During the lifetime of an Optionee, the Option shall be exercisable, only by him or by his legal guardian or personal representative, or by an individual holding on behalf of the Optionee a valid Durable Power of Attorney. 

  
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 5.5 Effect of Death, Disability, Retirement, or Other Termination of Service. 

 

	 	(a)	If an Optionee’s Service with the Bank shall be terminated for “cause,” as defined in Section 5.5(b) hereof, then no Options held by such Optionee, which are unexercised in whole or in part, may be
exercised on or after the date on which such Optionee is first notified in writing by the Bank of such termination for cause. 

  

	 	(b)	For purposes of this Section 5.5, termination for “cause” shall mean termination for the Optionee’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, violation of any law, rule, or regulation (other than traffic violations or similar offenses), violation of any agreement or order with any bank regulatory agency, or failure by the Optionee to perform his stated duties. 

 

	 	(c)	If an Optionee’s Service with the Bank shall be terminated for any reason other than for cause (as defined in Section 5.5(b) hereof) and other than the retirement after age seventy-two (72) or the
disability (as defined in Section 5.5(e) hereof) or death of the Optionee, then no Options held by such Optionee, which are unexercised in whole or in part, may be exercised on or after such termination of Service. 

 

	 	(d)	If an Optionee’s Service with the Bank shall be terminated by reason of retirement after age seventy-two (72) or the death or disability (as defined in Section 5.5(e) hereof) of the Optionee, then the
Optionee or personal representative or administrator of the estate of the Optionee or the successor Trustee of the Optionee’s Trust containing dispositive provisions, or the person or persons to whom an Option granted hereunder shall have been
validly transferred by the personal representative or administrator pursuant to the Optionee’s will or the laws of descent and distribution, as the case may be, shall have the right to exercise the Optionee’s Options for ninety
(90) days after the date of such termination (one year in the case of death or disability), and to the. extent of the full amount of the shares subject to such Options. 

 

	 	(e)	For purposes of this Section 5.5, the terms “disability” and “disabled” shall have the meaning set forth in the principal disability insurance policy or similar program then maintained by the
Bank on behalf of its employees or, if no such policy or program is then in existence, the meaning then used by the United States Government in determining persons eligible to receive disability payments under the social security system of the
United States. 

  

	 	(f)	No transfer of an Option by the Optionee by will or. by the laws of descent and distribution shall be effective to bind the Bank unless the Bank shall have been furnished with written notice thereof and an authenticated
copy of the will and/or such other evidence as the Bank may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions of such Option. 

  
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 5.6 Rights as Shareholder. An Optionee or a transferee of an Option shall have no rights
as a shareholder with respect to any shares of Stock subject to such Option prior to the purchase of such shares by exercise of such Option as provided herein. 

5.7 Investment Intent. Upon or prior to the exercise of all or any portion of an Option, the Optionee shall furnish to the Bank in
writing such information or assurances as, in the Bank’s opinion, maybe necessary to enable it to comply fully with the Securities Act of 1933, as amended, and the rules and regulations thereunder and any other applicable statutes, rules, and
regulations. Without limiting the foregoing, if a registration statement is not in effect under the Securities Act of 1933, as amended, with respect to the shares of Stock to be issued upon exercise of an Option, the Bank shall have the right to
require, as a condition to the exercise of such Option, that the Optionee represent to the Bank in writing that the shares to be received upon exercise of such Option will be acquired by the: Optionee for investment and not with a view to
distribution and that the Optionee agree, in writing, that such shares will not be disposed of except pursuant to an effective registration statement, unless the Bank shall have received an opinion of counsel reasonably acceptable to it to the
effect that such disposition is exempt from the registration requirements of the Securities Act of 1933, as amended. The Bank shall have the right to endorse on certificates representing shares of Stock issued upon exercise of an Option such legends
referring to the foregoing representations and restrictions or any other applicable restrictions on resale or disposition as the Bank, in its discretion, shall deem appropriate. 

ARTICLE VI 
 Incentive Stock
Options 
 6.1 Requirements. All Incentive Stock Options granted pursuant to the terms of this Plan shall be subject to the
additional limitations and restrictions as set forth in the Code and in this Article VI. Any Option granted pursuant to this Plan which does not fulfill all of the provisions of this Article VI shall not be an Incentive Stock Option and thus shall
be a Nonstatutory Stock Option. 
 6.2 Grant Period. All Incentive Stock Options granted hereunder must be granted within ten
(10) years from the earlier of: (a) the date the Plan is adopted by the Board; or (b) the date the Plan is approved by the shareholders of the Bank. 

  
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 6.3 Eligibility. The Stock Option Committee shall determine which Employees shall receive
Incentive Stock Options. No member of the Stock Option Committee is eligible to receive Incentive Stock Options. Incentive Stock Options may not be granted to any Employee who, at the time the Incentive Stock Option is granted, owns stock possessing
more than ten percent (10%) of the total combined voting power of all classes of stock of the Bank unless: (a) such Incentive Stock Option by its terms is not exercisable after the expiration of five (5) years from the date of its
grant; and (b) the Option Price of the shares covered by such Incentive Stock Option is not less than one hundred and ten percent (110%) of the fair market value of such shares on the date that such: Incentive Stock Option is granted. 

6.4 Special Rule Regarding Exercisability. If, for any reason, any Option granted hereunder which is intended to be an Incentive Stock.
Option shall exceed the limitation on exercisability contained in the Code at any time, such Options shall nevertheless be exercisable, but: (a) any exercise of such Option shall be deemed to be an exercise of an Incentive Stock Option first
until the portion of such Option qualifying as an Incentive Stock Option shall have been, exercised in full; and (b) the portion of such Option in excess of the foregoing limitation on exercisability shall be deemed to be a Nonstatutory Stock
Option. 
 ARTICLE VII 

Nonstatutory Stock Options 
 The
Stock Option Committee may grant Nonstatutory Stock Options under this Plan. Such Nonstatutory Stock Options must fulfill all of the requirements of all provisions of this Plan except for those contained in Article VI hereof. Subject to the approval
and acceptance of the Stock Option Committee, any Employee who is granted a Nonstatutory Stock Option pursuant to this Plan shall be entitled to elect to surrender all or any part of such Nonstatutory Stock Option to the Bank and receive, in
exchange, an Incentive Stock Option covering the same number of shares as those with respect to which the Nonstatutory Stock Option was surrendered. Any such election shall be valid and effective only upon its approval and acceptance by the Stock
Option Committee. 
 ARTICLE VIII 

Stock Certificates 
 The Bank
shall not be required to issue or deliver any certificate for shares of Stock purchased upon the exercise of any Option granted hereunder or of any portion thereof, prior to fulfillment of all of the following conditions: 

(a) The admission of such shares to listing on all stock exchanges on which the Stock is then listed, if any; 

  
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 (b) The completion of any registration or other qualification of such shares under any federal or
state law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory agency, which the Bank shall in its sole discretion determine to be necessary or advisable; 

(c) The obtaining of any approval or other clearance from any federal or state governmental agency which the Bank shall in its sole discretion
determine to be necessary or advisable; and 
 (d) The lapse of such reasonable period of time following the exercise of the Option as the
Bank from time to time may establish for reasons of administrative convenience. 
 ARTICLE IX 

Termination, Amendment, and Modification of Plan 

The Board may at any time terminate, and may at any time and from time to time and in any respect amend or modify, the Plan; provided,
however, that no such action of the Board without approval of the shareholders of the Bank may increase the total number of shares of Stock subject to the Plan except as contemplated in Section 4.3 hereof or alter the class of persons eligible
to receive Options under the Plan, and provided further that no termination, amendment, or modification of the Plan shall without the written consent of the Optionee of such Option adversely affect the rights of the Optionee with respect to an
Option or the unexercised portion thereof. 
 Notwithstanding any other provision of this Plan, the Bank’s primary federal bank
regulator shall at any time have the right to direct the Bank to require Optionees to exercise their Options or forfeit their Options if the Bank’s capital falls below the minimum requirements, as determined by such federal bank regulator. 

ARTICLE X 
 Miscellaneous 

10.1 Service. Nothing in the Plan or in any Option granted hereunder or in any Stock Option Agreement relating thereto shall confer
upon any Employee the right to continue in the Service of the Bank. 
 10.2 Other Compensation Plans. The adoption of the Plan shall
not affect any other stock option or incentive or other compensation plans in effect for the Bank, nor shall the Plan preclude the Bank from establishing any other forms of incentive or other compensation for directors, officers, or employees of the
Bank. 

  
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 10.3 Plan Binding on Successors. The Plan shall be binding upon the successors and assigns
of the Bank. 
 10.4 Singular, Plural; Gender. Whenever used herein, nouns in the singular shall include the plural, and the
masculine pronoun shall include the feminine gender. 
 10.5 Applicable Law. This Plan shall be governed by and construed in
accordance with the laws of the State of Florida. 
 10.6 Headings, etc., No Part of Plan. Headings of Articles and Sections hereof
are inserted for convenience and reference; they constitute no part of the Plan. 
 10.7 Severability. If any provision or provisions
of this Plan shall be held to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

10.8 Compliance with Section 409A of the Code. To the extent applicable, it is intended that this Plan comply with the provisions
of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) do not apply to any Optionee. This Plan shall be administered in a manner consistent with this intent, and any provision that would cause the Plan
to fail to satisfy Section 409A of the Code shall have no force and effect until amended to comply with Section 409A of the Code (which amendment may be retroactive to the extent permitted by Section 409A of the Code and may be made
by the Bank without the consent of the Optionee). 
 IN WITNESS WHEREOF, the undersigned President and Chief Executive Officer of the Bank
has signed this Plan for and on behalf of the Bank. 
  

	
	

	Michael Sleaford
	President and Chief Executive Officer
	
	Dated: 10/08, 2008

  
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