Document:

<PAGE>

                                                                 EXHIBIT 10(III)

                       EXECUTIVE SALARY CONTINUATION PLAN
                                       OF
                              THE FIRST STATE BANK

                                   Section I
                       Establishment and Purpose of Plan

     1.1  Establishment and Duration of Plan. The Board of Directors of THE
FIRST STATE BANK, a Georgia corporation, hereby establishes the Executive Salary
Continuation Plan of THE FIRST STATE BANK and its successors, effective as of
the 1st day of April, 1989. By executing a Participation Agreement, an Executive
agrees to abide by the terms of the Plan.

     1.2  Purpose of Plan. The purpose of the Executive Salary Continuation Plan
is to provide Executives with benefits upon their retirement or death, if they
are eligible to receive benefits under the Plan.

     1.3  This is a continuation with an amendment to the Plan adopted 1989.

                                   Section II
                                  Definitions

     2.1  "Beneficiary" means the person or persons who are designated by an
Executive, in the Participation Agreement, to receive payments under the Plan.

     2.2  "Corporation" means THE FIRST STATE BANK, a Georgia corporation, or
any successor thereto and its subsidiaries.

     2.3  "Death Benefit" shall mean, with respect to each Executive, the amount
listed as such on such Executive's Participation Agreement; provided that if an
Executive's death results from suicide within two years of his Entry Date, his
Death Benefit shall be zero. Any final determination of suicide under any policy
insuring the Executive's life shall conclusively determine the question of
suicide for all purposes of this Plan.

<PAGE>

                                     Page 2

     2.4 "Deferral Account" means, with respect to any Executive, the Account
being administered for the benefit of such Executive under this Plan. Such
Account shall be credited with an amount designated in the Executive's
Participation Agreement. Such amount shall be credited to such Executive's
Deferral Account on his Entry Date. An identical amount shall be credited to
such Executive's Deferral Account every three months thereafter so long as the
Executive remains in the active employment of the Corporation. Six percent (6%)
interest per annum shall be credited on all Deferral Accounts. Interest shall be
credited and compounded quarterly, beginning on the date which is three months
after an amount is first credited to such Executive's Deferral Account and shall
be computed based on the amount which was credited to such Deferral Account as
of the beginning of such quarter. Deferral Accounts will not actually be funded
but will be bookkeeping accounts established on the Corporation's records
showing the current balances of such Accounts.

     2.5 "Early Retirement" means the retirement, with the consent of the Board
of Directors of the Corporation, from the employment with the Corporation by an
Executive who has attained age fifty (50) but who has not attained Normal
Retirement Age.

     2.6 "Early Retirement Benefit" means the amount determined as such in
accordance with the terms of the Executive's Participation Agreement.

     2.7 "Early Retirement Date" means the first day of the month after which an
Executive elects Early Retirement.

     2.8 "Early Date" means the date as of which Executive first executes a
Participation Agreement under the Plan.

<PAGE>

                                     Page 3

     2.9 "Executive" means each employee of the Corporation who is designated as
being eligible to participate in the Plan by the Board of Directors of the
Corporation, and who elects to participate in the Plan by executing a
Participation Agreement.

     2.10 "Fiscal Year" shall mean the twelve-month period beginning on January
1 of each year.

     2.11 "Normal Retirement Age" means the date on which an Executive attains
the age of sixty-five (65).

     2.12 "Normal Retirement Benefit" means an amount determined as such in
accordance with the terms of the Executive's Participation Agreement.

     2.13 "Normal Retirement Date" means the first day of the month following
the month during which the Executive attains Normal Retirement Age or, if later,
the first day of the month following the Executive's retirement after
attainment of his Normal Retirement Age.

     2.14 "Participation Agreement" means the agreement executed by the
Executive upon being admitted to the Plan. The Participation Agreement shall be
an integral part of the Plan.

     2.15 "Plan" means the THE FIRST STATE BANK Executive Salary Continuation
Plan, as the same may hereafter be amended.

<PAGE>

                                     Page 4

                                   Section III

                               Payment of Benefits

     3.1 If an Executive is continually employed by the Corporation from his
Entry Date until his Normal Retirement Age, then the Corporation will make a
series of payments to the Executive, each such payment to be equal to the
Executive's Normal Retirement Benefit. The first such payment shall be made on
the Normal Retirement Date and the remaining payments shall be made on the first
day of each succeeding month until one hundred twenty (120) total payments have
been made, or, if later, until the Executive's death. If an Executive dies
before one hundred twenty (120) payments have been made, the remaining payments
shall be made to the Executive's Beneficiary. If the Executive's Beneficiary
dies before receiving all the payments due to him or her, then the remaining
payment shall be made to the Beneficiary's estate.

     Notwithstanding the foregoing provisions of this section 3.1, if an
Executive becomes entitled to receive benefits under this Section 3.1 and
engages in Competitive Activities (as defined in such Executive's Participation
Agreement), then all payments to such Executive or his Beneficiary under the
prior provisions of this Section 3.1 shall be forfeited. In lieu of such
payments, the Corporation shall pay to such Executive an amount determined as
follows:

         (a) Ascertain the amount of such Executive's Deferral Account as of the
             time that the Executive first engages in Competitive Activities;
         (b) Determine the sum of all payments made to such Executive under this
             Section 3.1 before such Executive engaged in Competitive
             Activities;
         (c) Determine the greater of zero (0); or the amount determined by
             subtracting the amount determined under (b), above, from the amount
             determined under (a) above;

<PAGE>

                                     Page 5

        (d) Determine the level monthly amount necessary to amortize the result
            determined under (c), above, over one hundred twenty (120) months at
            six percent (6%) interest per annum, compounded quarterly.

     The Corporation will make a series of payments to the Executive, each such
payment to be equal to the amount determined in (d), above. The first such
payment shall be made on the first day of the month following the month in which
the Executive first engages in Competitive Activities and the remaining payments
shall be made on the first day of each succeeding month until one hundred twenty
(120) total payments (not including any payments received before the Executive
engaged in Competitive Activities) have been made. If the Executive dies before
one hundred twenty (120) such payments have been made, the remaining payments
shall be made to the Executive's Beneficiary. If the Executive's Beneficiary
dies before receiving all the payments due to him or her, then the remaining
payments shall be made to the Beneficiary's estate.

     3.2 If an Executive dies prior to his or her Normal Retirement Date while
in the active and continuous employment of the Corporation, the Corporation will
make a series of payments to the Executive's Beneficiary, each such payment to
be equal to the Executive's Death Benefit. The first such payment shall be made
on the first day of the month following the Executive's death and the remaining
payments shall be made on the first day of each succeeding month until one
hundred twenty (120) total payments have been made. If the Executive's
Beneficiary dies before receiving all the payments due to him or her, then the
remaining payments shall made to the Beneficiary's estate.

<PAGE>

                                     Page 6

     3.3 In the event of an Executive's Early Retirement, the Corporation will
make a series of payments to the Executive, each payment to be equal to the
Executive's Early Retirement Benefit, determined as of the date of such
Executive's Early Retirement. The first such payment shall be made on the Early
Retirement Date and the remaining payments shall be made on the first day of
each succeeding month until one hundred twenty (120) total payments have been
made, or, if later, until the Executive's death. If an Executive dies before all
one hundred twenty (120) payments have been made, the remaining payments shall
be made to the Executive's Beneficiary. If the Executive's Beneficiary dies
before receiving all the payments due to him or her, then the remaining payments
shall be made to the Beneficiary's estate.

     Notwithstanding the foregoing provisions of this section 3.3, if an
Executive becomes entitled to receive benefits under this Section 3.3 and
engages in Competitive Activities (as defined in such Executive's Participation
Agreement), then all payments to such Executive or his Beneficiary under the
prior provisions of this Section 3.3 shall be forfeited. In lieu of such
payments, the Corporation shall pay to such Executive an amount determined as
follows;

          (a) Ascertain the amount of such Executive's Deferral Account as of
              the time that the Executive first engages in Competitive
              Activities;
          (b) Determine the sum of all payments made to such Executive under
              this Section 3.3 before such Executive engaged in Competitive
              Activities;
          (c) Determine the greater of zero (0); or the amount determined by
              subtracting the amount determined under (b), above, from the
              amount determined under (a) above;
          (d) determine the level monthly amount necessary to amortize the
              result Determined under (c), above, over one hundred twenty (120)
              months at six percent (6%) interest per annum, compounded
              quarterly.

<PAGE>

                                     Page 7

     The Corporation will make a series of payments to the Executive, each such
payment to be equal to the amount determined in (d), above. The first such
payment shall be made on the first day of the month following the month in which
the Executive first engages in Competitive Activities and the remaining payments
shall be made on the first day of each succeeding month until one hundred twenty
(120) total payments (not including any payments received before the Executive
engaged in Competitive Activities) have been made. If the Executive dies before
one hundred twenty (120) such payments have been made, the remaining payments
shall be made to the Executive's Beneficiary. If the Executive's Beneficiary
dies before receiving all the payments due to him or her, then the remaining
payments shall be made to the Beneficiary's estate.

     3.4 The benefits provided to an Executive or his Beneficiary under Sections
3.1, 3.2, and 3.3 are mutually exclusive. Accordingly, benefits shall not be
paid to an Executive or his Beneficiary pursuant to more than one of such
Sections. If an Executive fulfills the conditions of more than one of such
Sections, then the Executive or his Beneficiary shall be entitled to benefits
pursuant to the Section of the Plan under which the highest benefit would be
paid.

     3.5 If, at the death of the Executive, there is no properly designated
living Beneficiary, or, if the Beneficiary is an entity and such entity is not
then in existence, then any payments due under this Plan shall be made to the
Executive's estate.

     3.6 If an Executive's employment with the Corporation is terminated on
account of his total and permanent disability, then such Executive shall be
treated for all purposes of this Plan as if he remained in the active and
continuous employment of the Corporation during any period of such disability.

<PAGE>

                                     Page 8

     For purposes of this Plan, an Executive is totally and permanently disabled
so long as he or she is determined to be totally disabled under the group
long-term disability plan maintained by the Corporation under which such
Executive is insured. If no such insurance is maintained by the Corporation,
then an Executive is totally and permanently disabled so long as he or she is
unable to engage in substantially all the regular duties of his or her position
with the Corporation by reason of any medically determinable physical or mental
impairment. If an Executive is not insured under a group long-term disability
insurance contract maintained by the Corporation, the Board of Directors of the
Corporation shall determine whether an Executive is totally and permanently
disabled.

                                   Section IV

                 Rights and Duties of Participants and Members

     4.1 No Executive or any other person shall have any interest in any fund or
in any specific asset or assets of the Corporation by reason of this Plan, or
for any other reason, or have any right to receive any distributions under the
Plan except as and to the extent expressly provided under the Plan. An Executive
is a general creditor of the Corporation.

     4.2 Each Executive shall receive an updated copy of the Plan and shall
receive copies of any amendments to the Plan within ten (10) days after their
adoption.

     4.3 No right of any Executive or any Beneficiary to receive payment
hereunder shall be subject to alienation, transfer, sale, assignment, pledge,
attachment, garnishment or encumbrance of any kind. Any attempt to alienate,
sell, transfer, assign, pledge or otherwise encumber any such payments whether
presently or hereafter payable shall be void. No payment under this Plan shall
be subject to debts or liabilities of any Executive or Beneficiary.

<PAGE>
                                      Page 9

     4.4 Every person receiving or claiming payments under the Plan shall be
presumed to be mentally competent until the date on which the Corporation
receives a written notice in a form and manner acceptable to the Corporation
that the person is incompetent and that a guardian, conservator or other person
legally vested with the interest of his or her estate has been appointed. If
guardian or conservator of the estate or any person receiving or claiming
payments under the Plan is appointed, payments under this Plan may be made to
such guardian or conservator provided that the proper proof of appointment and
continuing qualification is furnished in a form and manner acceptable to the
Corporation. Any payments so made shall be a discharge of any liability of the
Corporation for such payments.

     4.5 Each person entitled to receive a payment under this Plan, whether an
Executive, Beneficiary, a guardian or otherwise, shall provide the Corporation
with such information it may from time to time deem necessary or in its best
interest in administering the Plan. Any such person shall also furnish the
Corporation with such documents, evidence, data or other information, as the
Corporation may from time to time may deem necessary or advisable.

                                   Section V

                        Duties of the Plan Administrator

     5.1 The Plan shall be administered by the Plan Administrator.

     5.2 The Plan Administrator may from time to time establish rules and
regulations for the administration of the Plan and adopt standard forms for such
matters as elections, beneficiary designations and applications for benefits,
provided such rules and forms are not inconsistent with the provisions of the
Plan.

<PAGE>

                                    Page 10

     5.3 All determinations of the Plan Administrator, shall be binding on all
parties. In construing or applying the provisions of the Plan, the Corporation
shall have the right to rely upon a written opinion of legal counsel, which may
be independent legal counsel or legal counsel regularly employed by the
Corporation, whether or not any question or dispute has arisen as to any
distribution from the Plan.

     5.4 The Plan Administrator shall be responsible for maintaining books and
records for the Plan. Each Executive or his or her Beneficiary shall be notified
annually of his or her Retirement Benefit and Death Benefit.

                                   Section VI

                  Amendment or Termination, Change in Control

     6.1 The Corporation may not amend, modify, terminate or discontinue the
Plan with respect to any Executive without the written consent of such
Executive.

     6.2 If an Executive's employment with the Corporation is terminated
(voluntarily or involuntarily), for any reason after the date which is one
hundred twenty (120) days before a Change in Control, then such individual shall
continue to be treated for all purposes of the Plan as if such individual
remained in the active and continuous employment of the Corporation,
notwithstanding the fact of such termination of employment. In addition,
benefits payable to such Executive or his Beneficiary shall not be reduced, as
provided in Sections 3.1 and 3.3 on account of such Executive's engagement in
Competitive Activities. A Change in Control occurs when:

         (a) the shareholders of the Corporation as of the effective date of the
             adoption of the Plan own less than 50% of the total combined voting
             power of all classes of stock of the Corporation entitled to vote,

<PAGE>

                                     Page 11

               (b) such shareholders own less than 50% of the total value of
                   shares of all classes of stock of the Corporation,
               (c) substantially all of the assets of the Corporation are sold
                   or otherwise transferred,
               (d) the Corporation is merged into another Corporation or
                   business entity, or
               (e) any individual, partnership, firm, corporation, association,
                   trust, unincorporated organization or other entity, or any
                   syndicate or group deemed to be a person under Section 14
                   (d)(2) of the Securities and Exchange Act of 1934 (the
                   "Act"), acquires stock in the Corporation after the adoption
                   of the Plan and becomes the "beneficial owner" (as defined in
                   Rule 13d-3 of General Rules and Regulations under the Act),
                   directly or indirectly, of securities of the Corporation
                   representing 30% or more of the combined voting power in the
                   election of the Directors of the Corporation.

         6.3 For purposes of this Section VI, the term "Corporation" also
             includes The First State Bank's parent corporation, Henry County
             Bancshares, a Georgia Corporation.

                                   Section VII

                          Not a Contract of Employment

         7.1 This Plan is not a contract of employment between an Executive and
the Corporation. No provision of this Plan restricts the right of the
Corporation to discharge an Executive, or restricts the right of an Executive to
terminate his employment.

<PAGE>

                                    Page 12

                                  Section VIII

                                Claims Procedure

     8.1  If a benefit under this Plan is not paid to an Executive or
beneficiary and such person believes that he or she is entitled to receive it, a
claim shall be made in writing to the Plan Administrator within sixty (60) days
from the date payment was to be made. Such claim shall be reviewed by the Plan
Administrator and the Corporation. If the claim is denied, in full or in part,
the Plan Administrator shall provide written notice within ninety (90) days
setting forth the specific reasons for denial. The notice shall include specific
reference to the provisions of this Plan upon which the denial is based and any
additional material or information necessary to perfect the claim, if any. Such
written notice shall also indicate the steps to be taken if a review of the
denial is desired.

     If the claim is denied and a review is desired, the claimant shall notify
the Plan Administrator in writing within sixty (60) days. A claim shall be
treated as denied if the Plan Administrator does not take action in the
aforesaid ninety (90) day period. In requesting review, the claimant may review
this Plan or any documents relating to it and submit any written issues and
comments he or she may feel appropriate. In his or her sole discretion, the Plan
Administrator shall then review the claim and provide a written decision within
sixty (60) days. This decision likewise shall state the specific provisions of
this Plan on which the decision is based.

     The Secretary of the Corporation is hereby designated as the Named
Fiduciary and Plan Administrator of this Plan.

<PAGE>

                                     Page 13

                                   Section IX
                         Guarantee by Parent Corporation

     9.1  The Corporation's parent corporation, Henry County Bancshares, a
Georgia Corporation, hereby guarantees, and agrees to become fully liable for,
any and all payments due under this plan to any Executive or his Beneficiary.

                                    Section X
                            Construction and Expense

     10.1 Whenever the context so requires, words in the masculine include the
feminine and words in the feminine include the masculine and the definition of
any term in the singular may include the plural.

     10.2 All expenses of administering the Plan shall be paid by the
Corporation unless the Plan provides to the contrary.

     10.3 The Plan shall be construed, administered and governed in all respects
under the laws of the State of Georgia.

<PAGE>

                                     Page 14

     IN WITNESS WHEREOF, this Plan has been executed as of January 1/st/, 1999.

                                        /s/ Robert O. Linch
                                        -----------------------------------
                                        On Behalf of the Board of Directors

                                        HENRY COUNTY BANCSHARES

                                        BY: /s/ [ILLEGIBLE]
                                            -------------------------------
                                            President

                                        ATTEST: /s/ [ILLEGIBLE]
                                                ---------------------------<PAGE>

                                                                     Exhibit 4.1

                       [Form of common stock certificate
                        of Medco Health Solutions, Inc.]

Number                                                                    SHARES

                           Medco Health Solutions, Inc.
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

MHS

    THIS CERTIFICATE IS TRANSFERABLE IN DULUTH, MINNEAPOLIS OR NEW YORK CITY
                                  COMMON STOCK

                                                               CUSIP 58405U102
                                                               SEE REVERSE FOR
                                                             CERTAIN DEFINITIONS

This Certifies that

is the owner of

     FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF THE PAR VALUE
OF ONE CENT ($0.01) EACH OF
========================Medco Health Solutions, Inc.============================
transferable on the books of the Corporation by the holder hereof in person or
by duly authorized attorney upon surrender of this certificate properly
endorsed. This certificate and the shares represented hereby are issued and
shall be held subject to all the provisions of the Certificate of Incorporation
of Medco Health Solutions, Inc. and to any and all amendments thereto, to all of
which the holder by acceptance hereof assents. This certificate is not valid
until countersigned by the Transfer Agent and registered by the Registrar.

     WITNESS the facsimile seal of the Corporation and the facsimile signature
of its proper officers.

Dated:

<TABLE>

<S>                                                 <C>
                                                    /s/ Richard T. Clark
                                                    CHIEF EXECUTIVE OFFICER

                  [MEDCO HEALTH SOLUTIONS, INC. CORPORATE SEAL]

COUNTERSIGNED AND REGISTERED:
THE BANK OF NEW YORK
                      TRANSFER AGENT
                       AND REGISTRAR,
BY
   /s/ John D. Sivertsen                            /s/ David S. Machlowitz
   AUTHORIZED SIGNATURE                             SENIOR VICE PRESIDENT, GENERAL COUNSEL
                                                    AND SECRETARY
</TABLE>

<PAGE>

  [Form of reverse of Common Stock Certificate of Medco Health Solutions, Inc.]

                           Medco Health Solutions, Inc.

        The corporation will furnish without charge to each stockholder who so
requests the powers, designations, preferences and relative, participating,
optional, or other special rights of each class of stock or series thereof and
the qualifications, limitations or restrictions of such preferences and/or
rights. Such requests may be made to the corporation or the transfer agent.

   The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                          <C>
TEN COM - as tenants in common               UNIF TRANS MIN ACT - ___________ Custodian____________
                                                                  (Cust)              (Minor)
TEN ENT - as tenants by the entireties                            under Uniform Transfers to Minors

JT TEN  - as joint tenants with right                             Act______________________________
          of survivorship and not as                                          (State)
          tenants in common
</TABLE>

     Additional abbreviations may also be used though not in the above list

   For value received, ___________________ hereby sell, assign and transfer unto

 PLEASE INSERT SOCIAL SECURITY OR OTHER
    IDENTIFYING NUMBER OF ASSIGNEE

[___________________________________]___________________________________________

________________________________________________________________________________
  (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

________________________________________________________________________________

________________________________________________________________________________

_________________________________________________________________________ Shares
of the capital stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint

_______________________________________________________________________ Attorney
to transfer the said stock on the books of the within named Corporation with
full power of substitution in the premises.

Dated____________________________

                       _________________________________________________________
                       NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND
                               WITH THE NAME AS WRITTEN UPON THE FACE OF THE
                               CERTIFICATE IN EVERY PARTICULAR WITHOUT
                               ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signatures(s) Guaranteed:

_______________________________________________________
THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND
LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM),
PURSUANT TO S.E.C. RULE 17AD-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]