Document:

Exhibit 10.1

 

FIRST AMENDMENT

TO THE

 ATLANTIC SOUTHERN BANK (f/k/a
NEW SOUTHERN BANK)

SALARY CONTINUATION AGREEMENT

DATED DECEMBER 15, 2005

FOR

MORRIS A. STEVENS

 

THIS
FIRST AMENDMENT is adopted this
         day of
                                ,
20    , by and between ATLANTIC SOUTHERN BANK (f/k/a New
Southern Bank), a state-chartered commercial bank located in Macon, Georgia
(the “Company”), and Morris A. Stevens (the “Executive”).

 

The
Company and the Executive executed the Salary Continuation Agreement on December 15,
2005 (the “Agreement”).

 

The
undersigned hereby amend the Agreement for the purpose of changing the
respective benefit amounts due upon Separation from Service or death to be Zero
Dollars ($0.00).  Pursuant to Section 7.1
of the Agreement, the parties mutually agree to this amendment and no further
consideration shall be exchanged by the parties in lieu of the benefits
voluntarily relinquished by the Executive hereunder.

 

Therefore,
the following changes shall be made:

 

Sections 2.1.1, 2.2.1, 2.3.1, 2.4.1, 2.5.1 and 3.1.1 of the Agreement
shall be deleted in their entirety and replaced by the following:

 

2.1.1                     Amount of Benefit.  The annual benefit under this Section 2.1
is Zero Dollars ($0.00).

 

2.2.1                     Amount
of Benefit.  The annual
benefit under this Section 2.2 is Zero Dollars ($0.00).

 

2.3.1                     Amount of Benefit.  The annual benefit under this Section 2.3
is Zero Dollars ($0.00).

 

2.4.1                     Amount of Benefit.  The annual benefit under this Section 2.4
is Zero Dollars ($0.00).

 

2.5.1                     Amount of Benefit.  The annual benefit under this Section 2.4
is Zero Dollars ($0.00).

 

3.1.1                     Amount of Benefit.  The benefit under this Section 3.1 is
Zero Dollars ($0.00).

 

Schedule A shall be deleted in its entirety.

 

 

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

 

	
  Executive:

  	
   

  	
  Company:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ATLANTIC SOUTHERN BANK

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Morris
  A. Stevens

  	
   

  	
  TitleExhibit 10.2

 

FIRST AMENDMENT

TO THE

ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK)

SALARY CONTINUATION AGREEMENT

DATED DECEMBER 15, 2005

FOR

CAROL W. SOTO

 

THIS
FIRST AMENDMENT is adopted this
         day of
                                ,
20    , by and between ATLANTIC SOUTHERN BANK (f/k/a New
Southern Bank), a state-chartered commercial bank located in Macon, Georgia
(the “Company”), and Carol W. Soto (the “Executive”).

 

The
Company and the Executive executed the Salary Continuation Agreement on December 15,
2005 (the “Agreement”).

 

The
undersigned hereby amend the Agreement for the purpose of changing the
respective benefit amounts due upon Separation from Service or death to be Zero
Dollars ($0.00).  Pursuant to Section 7.1
of the Agreement, the parties mutually agree to this amendment and no further
consideration shall be exchanged by the parties in lieu of the benefits
voluntarily relinquished by the Executive hereunder.

 

Therefore,
the following changes shall be made:

 

Sections 2.1.1, 2.2.1, 2.3.1, 2.4.1 and 3.1.1 of the Agreement shall be
deleted in their entirety and replaced by the following:

 

2.1.1                     Amount of Benefit.  The annual benefit under this Section 2.1
is Zero Dollars ($0.00).

 

2.2.1                     Amount
of Benefit.  The annual
benefit under this Section 2.2 is Zero Dollars ($0.00).

 

2.3.1                     Amount of Benefit.  The annual benefit under this Section 2.3
is Zero Dollars ($0.00).

 

2.4.1                     Amount of Benefit.  The annual benefit under this Section 2.4
is Zero Dollars ($0.00).

 

3.1.1                     Amount of Benefit.  The benefit under this Section 3.1 is
Zero Dollars ($0.00).

 

Schedule A shall be deleted in its entirety.

 

 

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

 

	
  Executive:

  	
  Company:

  
	
   

  	
   

  
	
   

  	
  ATLANTIC SOUTHERN BANK

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Carol
  W. Soto

  	
  TitleExhibit 10.3

 

FIRST AMENDMENT

TO THE

ATLANTIC SOUTHERN BANK (F/K/A NEW SOUTHERN BANK)

SALARY CONTINUATION AGREEMENT

DATED DECEMBER 15, 2005

FOR

BRANDON L. MERCER

 

THIS
FIRST AMENDMENT is adopted this
         day of
                                ,
20    , by and between ATLANTIC SOUTHERN BANK (f/k/a New
Southern Bank), a state-chartered commercial bank located in Macon, Georgia
(the “Company”), and Brandon L. Mercer (the “Executive”).

 

The
Company and the Executive executed the Salary Continuation Agreement on December 15,
2005 (the “Agreement”).

 

The
undersigned hereby amend the Agreement for the purpose of changing the
respective benefit amounts due upon Separation from Service or death to be Zero
Dollars ($0.00).  Pursuant to Section 7.1
of the Agreement, the parties mutually agree to this amendment and no further
consideration shall be exchanged by the parties in lieu of the benefits
voluntarily relinquished by the Executive hereunder.

 

Therefore,
the following changes shall be made:

 

Sections 2.1.1, 2.2.1, 2.3.1, 2.4.1 and 3.1.1 of the Agreement shall be
deleted in their entirety and replaced by the following:

 

2.1.1                     Amount of Benefit.  The annual benefit under this Section 2.1
is Zero Dollars ($0.00).

 

2.2.1                     Amount
of Benefit.  The annual
benefit under this Section 2.2 is Zero Dollars ($0.00).

 

2.3.1                     Amount of Benefit.  The annual benefit under this Section 2.3
is Zero Dollars ($0.00).

 

2.4.1                     Amount of Benefit.  The annual benefit under this Section 2.4
is Zero Dollars ($0.00).

 

3.1.1                     Amount of Benefit.  The benefit under this Section 3.1 is
Zero Dollars ($0.00).

 

Schedule A shall be deleted in its entirety.

 

 

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

 

	
  Executive:

  	
  Company:

  
	
   

  	
   

  
	
   

  	
  ATLANTIC
  SOUTHERN BANK

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Brandon
  L. Mercer

  	
  TitleExhibit 10.4

 

FIRST AMENDMENT

TO THE

ATLANTIC SOUTHERN BANK

SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

DATED MARCH 30, 2010

FOR

ED LOOMIS

 

THIS
FIRST AMENDMENT is adopted this
         day of
                                ,
20    , by and between ATLANTIC SOUTHERN BANK, a
state-chartered commercial bank located in Macon, Georgia (the “Employer”), and
Ed Loomis (the “Executive”).

 

The
Employer and the Executive executed the Salary Continuation Agreement on March 30,
2010 (the “Agreement”).

 

The
undersigned hereby amend the Agreement for the purpose of changing the
respective benefit amounts due upon Separation from Service or death to be Zero
Dollars ($0.00).  Pursuant to Section 3
of the Agreement, the parties mutually agree to this amendment and no further
consideration shall be exchanged by the parties in lieu of the benefits
voluntarily relinquished by the Executive hereunder.

 

Therefore,
the following changes shall be made:

 

The dollar amount in the last sentence of Section 2(a) shall
be changed from Nine Thousand One Hundred and Sixty-Seven Dollars ($9,167.00)
to Zero Dollars ($0).

 

IN WITNESS OF THE ABOVE, the Employer and the
Executive hereby consent to this First Amendment.

 

	
  Executive:

  	
  Company:

  
	
   

  	
  ATLANTIC
  SOUTHERN BANK

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Ed
  Loomis

  	
  TitleExhibit 10.5

 

TERMINATION OF THE

ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK)

SALARY CONTINUATION AGREEMENT

 

DATED DECEMBER 15, 2005

FOR

MORRIS A. STEVENS

 

Pursuant
to Section 7.2 of the Salary Continuation Agreement (the “Agreement”) by
and between Atlantic Southern Bank (f/k/a New Southern Bank), a state-chartered
commercial bank located in Macon, Georgia (the “Company”), and Morris A.
Stevens (the “Executive”), the Company and the Executive hereby agree to
terminate the Agreement.

 

IN WITNESS OF THE ABOVE, the Company and the
Executive hereby acknowledge such termination.

 

	
  Executive:

  	
  Bank:

  
	
   

  	
   

  
	
   

  	
  ATLANTIC
  SOUTHERN BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Morris
  A. Stevens

  	
  TitleExhibit 10.6

 

TERMINATION OF THE

ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK)

SALARY CONTINUATION AGREEMENT

DATED DECEMBER 15, 2005

FOR

CAROL W. SOTO

 

Pursuant
to Section 7.2 of the Salary Continuation Agreement (the “Agreement”) by
and between Atlantic Southern Bank (f/k/a New Southern Bank), a state-chartered
commercial bank located in Macon, Georgia (the “Company”), and Carol W. Soto
(the “Executive”), the Company and the Executive hereby agree to terminate the
Agreement.

 

IN WITNESS OF THE ABOVE, the Company and the
Executive hereby acknowledge such termination.

 

	
  Executive:

  	
  Bank:

  
	
   

  	
   

  
	
   

  	
  ATLANTIC
  SOUTHERN BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Carol
  W. Soto

  	
  TitleExhibit 10.7

 

TERMINATION OF THE

ATLANTIC SOUTHERN BANK (f/k/a NEW SOUTHERN BANK)

SALARY CONTINUATION AGREEMENT

DATED DECEMBER 15, 2005

FOR

BRANDON L. MERCER

 

Pursuant
to Section 7.2 of the Salary Continuation Agreement (the “Agreement”) by
and between Atlantic Southern Bank (f/k/a New Southern Bank), a state-chartered
commercial bank located in Macon, Georgia (the “Company”), and Brandon L.
Mercer (the “Executive”), the Company and the Executive hereby agree to
terminate the Agreement.

 

IN WITNESS OF THE ABOVE, the Company and the
Executive hereby acknowledge such termination.

 

	
  Executive:

  	
  Bank:

  
	
   

  	
   

  
	
   

  	
  ATLANTIC
  SOUTHERN BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
  Brandon
  L. Mercer

  	
  Title

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