Document:

Change in Control Agreement between the Company and Jeffrey D. Miller

 Exhibit 10.5 
 EXECUTIVE SUPPLEMENTAL EMPLOYMENT AGREEMENT 
 AGREEMENT by and between HIGHWOODS PROPERTIES, INC., a
Maryland corporation (the “Company”), and Jeffrey D. Miller (the “Executive”), dated as of April 13, 2007. 
 The
Board of Directors of the Company (the “Board”), has determined that it is in the best interests of the Company and its stockholders to ensure that the Company will have the continued dedication of the Executive, notwithstanding the
possibility, threat or occurrence of a Change of Control (as defined in Section 1) of the Company. The Board believes it is imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks
created by a pending or threatened Change of Control and to encourage the Executive’s full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control, and to provide the Executive with
compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits expectations of the Executive will be satisfied and which are competitive with those of other corporations. Therefore, in order to
accomplish these objectives, the Board has caused the Company to enter into this Agreement. 
 NOW, THEREFORE, IT IS HEREBY AGREED AS
FOLLOWS: 
 SECTION 1. Certain Definitions. 
 (a) The “Effective Date” shall mean the first date during the Change of Control Period (as defined in Section 1(b)) on which a Change of Control occurs. Anything in this Agreement to the contrary
notwithstanding, if a Change of Control occurs and if the Executive’s employment with the Company is terminated prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by the Executive that such termination
of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect the Change of Control or (ii) otherwise arose in connection with or anticipation of the Change of Control, then for all purposes of
this Agreement the “Effective Date” shall mean the date immediately prior to the date of such termination of employment. 
 (b) The
“Change of Control Period” shall mean the period commencing on the date hereof and ending on the third anniversary of such date; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary
of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the “Renewal Date”), the Change of Control Period shall be automatically extended so as to terminate three years from such Renewal Date, unless
at least 60 days prior to the Renewal Date the Company shall give notice to the Executive that the Change of Control Period shall not be so extended. 
  

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 (c) For purposes of this Agreement, a “Change of Control” shall mean: 
 (i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (a) the then outstanding shares of common
stock of the Company (the “Outstanding Company Common Stock”) or (b) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change of Control: (I) any acquisition directly from the Company (excluding an acquisition by virtue of the exercise of a conversion
privilege), (II) any acquisition by the Company, (III) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (IV) any acquisition by any corporation
pursuant to a reorganization, merger or consolidation, if, following such reorganization, merger or consolidation, the conditions described in clauses (I), (II) and (III) of subsection (i) of this Section 1(c) are satisfied; or 

(ii) Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute
at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority
of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of
either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the
Board; or 
 (iii) Approval by the stockholders of the Company of a reorganization, merger or consolidation, in each case,
unless, following such reorganization, merger or consolidation, (a) more than 60% of, respectively, the then outstanding shares of common stock of the corporation resulting from such reorganization, merger or consolidation and the combined
voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who
were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such reorganization, merger or consolidation in substantially the same proportions, as their ownership,
immediately prior to such reorganization, merger or consolidation, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (b) no Person (excluding the Company, any employee benefit plan (or
related trust) of the Company or such corporation resulting from such reorganization, merger or consolidation and any Person beneficially owning, immediately prior to such reorganization, merger or consolidation, directly or indirectly, 20% or more
of the Outstanding Company Common Stock or Outstanding Voting Securities, as the case may be) beneficially owns, directly or indirectly, 20% or more of, respectively, the then 

  

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outstanding shares of common stock of the corporation resulting from such reorganization, merger or consolidation or the combined voting power of the then
outstanding voting securities of such corporation entitled to vote generally in the election of directors and (c) at least a majority of the members of the board of directors of the corporation resulting from such reorganization, merger or
consolidation were members of the Incumbent Board at the time of the execution of the initial agreement providing for such reorganization, merger or consolidation; or 
 (iv) Approval by the stockholders of the Company of (a) a complete liquidation or dissolution of the Company or (b) the sale or
other disposition of all or substantially all of the assets of the Company, other than to a corporation, with respect to which following such sale or other disposition, (I) more than 60% of, respectively, the then outstanding shares of common
stock of such corporation and the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially
all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such sale or other disposition in substantially the same
proportion as their ownership, immediately prior to such sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (II) no Person (excluding the Company and any employee benefit
plan (or related trust) of the Company or such corporation and any Person beneficially owning, immediately prior to such sale or other disposition, directly or indirectly, 20% or more of the Outstanding Company Common Stock or Outstanding Company
Voting Securities, as the case may be) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of such corporation and the combined voting power of the then outstanding voting securities
of such corporation entitled to vote generally in the election of directors and (III) at least a majority of the members of the board of directors of such corporation were members of the Incumbent Board at the time of the execution of the initial
agreement or action of the Board providing for such sale or other disposition of assets of the Company. 
 SECTION 2. Employment
Period. The term of this Agreement shall commence on the Effective Date and end on the third anniversary of such date (the “Employment Period”), subject to the termination provisions in Sections 4 and 5 herein. 
 SECTION 3. Terms of Employment. 
 (a)
Position and Duties. 
 (i) During the Employment Period, (A) the Executive’s position (including status,
offices, titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the most significant of those held, exercised and assigned at any time during the 90-day period
immediately preceding the Effective Date and (B) the Executive’s services shall be performed at the location where the Executive was employed immediately preceding the Effective Date or any office which is the headquarters of the Company
and is less than 35 miles from such location. 
  

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 (ii) During the Employment Period, and excluding any periods of vacation and sick leave
to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the
Executive hereunder, to use the Executive’s reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period, it shall not be a violation of this Agreement for the Executive to (A) serve on
corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal investments, so long as such activities do not significantly interfere
with the performance of the Executive’s responsibilities as an employee of the Company in accordance with this Agreement. It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive
prior to the Effective Date, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date shall not hereafter be deemed to interfere with the performance of the
Executive’s responsibilities to the Company. 
 (b) Compensation. 
 (i) Base Salary. During the Employment Period, the Executive shall receive an annual base salary (“Annual Base Salary”),
which shall be paid in equal installments on a monthly basis, at least equal to twelve times the highest monthly base salary paid or payable to the Executive by the Company and its affiliated companies in respect of the twelve-month period
immediately preceding the month in which the Effective Date occurs. During the Employment Period, the Annual Base Salary shall be reviewed at least annually and shall be increased at any time and from time to time as shall be substantially
consistent with increases in base salary generally awarded in the ordinary course of business to other peer executives of the Company and its affiliated companies. Any increase in Annual Base Salary shall not serve to limit or reduce any other
obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this
Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company. 
 (ii) Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least
equal to the average bonus paid or payable, including by reason of any deferral, to the Executive (or, if the Executive has been employed by the Company for less than three full fiscal years, then the average bonus paid or payable to the executive
officer who was employed by the Company in a similar capacity as the Executive during such three full fiscal years) by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the
Effective Date occurs (the “Recent Average Bonus”). Without limitation, for purposes of this Agreement, 

  

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the terms “Annual Bonus” and “Recent Average Bonus” shall be deemed to include amounts earned (whether or not paid) with respect to any
applicable period under any Non-Equity Incentive Plan (as such term is defined in Item 402(a)(6)(iii) of Regulation S-K promulgated under the Exchange Act and the Securities Act of 1933, as amended, including any successor thereto). Each such
Annual Bonus shall be paid within 2  1/2 months following the fiscal year for which the Annual Bonus is awarded,
unless the Executive shall elect, pursuant to a plan of nonqualified deferred compensation adopted by the Company, if any, under which the Annual Bonus may be deferred, to defer the receipt of such Annual Bonus. 
 (iii) Special Bonus. In addition to Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains
employed with the Company and its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the “Special Bonus”) in recognition of the Executive’s services during
the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive’s Annual Base Salary and (B) the greater of (1) the Annual Bonus paid or payable, including by reason of any
deferral, to the Executive (or, if the Executive has been employed by the Company for less than three full fiscal years, then the average bonus paid or payable to the executive officer who was employed by the Company in a similar capacity as the
Executive during such three full fiscal years) for the most recently completed fiscal year during the Employment Period, if any, and (2) the Recent Average Bonus (such greater amount shall be hereinafter referred to as the “Highest Annual
Bonus”). The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date. 
 (iv) Incentive, Savings and Retirement Plans. During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other
peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive
opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its
affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 90-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at
any time after the Effective Date to other peer executives of the Company and its affiliated companies. 
 (v) Welfare
Benefit Plans. During the Employment Period, the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and
programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, salary continuance, employee life, group life, accidental death and travel accident insurance plans and
programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits 

  

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which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time
during the 90-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies. 

(vi) Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable
employment expenses incurred by the Executive in accordance with the most favorable policies, practices and procedures of the Company and its affiliated companies in effect for the Executive at any time during the 90-day period immediately preceding
the Effective Date, or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (vii) Fringe Benefits. During the Employment Period, the Executive shall be entitled to fringe benefits no less favorable, in the
aggregate, than the plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 90-day period immediately preceding the Effective Date, or if more favorable to the Executive,
as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (viii) Office and Support Staff. During the Employment Period, the Executive shall be entitled to an office or offices of a size and with furnishings and other appointments, and to exclusive personal secretarial and other assistance,
at least equal to the most favorable of the foregoing provided to the Executive by the Company and its affiliated companies at any time during the 90-day period immediately preceding the Effective Date or, if more favorable to the Executive, as
provided generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (ix) Vacation. During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for
the Executive at any time during the 90-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated
companies. 
 SECTION 4. Termination of Employment. 
 (a) Death or Disability. The Executive’s employment shall terminate automatically upon the Executive’s death during the Employment Period. If the Company determines in good faith that the Disability
of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 10(b) of its intention to terminate the
Executive’s employment. In such event, the Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the 

  

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“Disability Effective Date”), provided that, within the 30 days after such receipt, the Executive shall not have returned to full-time performance
of the Executive’s duties. For purposes of this Agreement, “Disability” shall mean the Executive is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to
last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Company. 
 (b) Cause. The Company may terminate the Executive’s employment during the Employment Period for Cause. For purposes of this Agreement,
“Cause” occurs when the Executive does any of the following: 
 (i) is convicted of a felony involving moral
turpitude under federal, state or local law; 
 (ii) materially breaches the Executive’s obligations under
Section 3(a) (other than as a result of incapacity due to physical or mental illness) that is demonstrably willful and deliberate on the Executive’s part, that is committed in bad faith or without reasonable belief that such breach is in
the best interests of the Company and that is not remedied in a reasonable period of time after receipt of written notice from the Company specifying such breach); and/or 
 (iii) is convicted of any applicable local, state or federal law or Company policy related to discrimination or harassment. 
 (c) Good Reason; Window Period. The Executive’s employment may be terminated (i) during the Employment Period by the Executive for Good
Reason or (ii) during the Window Period by the Executive without any reason. For purposes of this Agreement, the “Window Period” shall mean the 90-day period immediately following the first anniversary of the Effective Date. For
purposes of this Agreement, “Good Reason” shall mean: 
 (i) the assignment to the Executive of any duties
inconsistent in any respect with the Executive’s position (including status, offices, titles and reporting requirement), authority, duties or responsibilities as contemplated by Section 3(a) or any other action by the Company which results
in a diminution in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice
thereof given by the Executive; 
 (ii) any failure by the Company to comply with any of the provisions of Section 3(b),
other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive; 
  

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 (iii) the Company’s requiring the Executive to be based at any office or location
other than that described in Section 3(a) (i) (B); 
 (iv) any purported termination by the Company of the
Executive’s employment otherwise than as expressly permitted by this Agreement; or 
 (v) any failure by the Company to
comply with and satisfy Section 9(c), provided that such successor has received at least ten days’ prior written notice from the Company or the Executive of the requirements of Section 9(c). 
 For purposes of this Section 4(c), any good faith determination of “Good Reason” made by the Executive shall be conclusive. 
 (d) Notice of Termination. Any termination by the Company for Cause, or by the Executive without any reason during the Window Period or for Good
Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 10(b). For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the
specific termination provision in this Agreement relied upon, (ii) to the extent applicable sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the
provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date of such notice. The failure by the Executive or the Company to set forth in the
Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company hereunder or preclude the Executive or the Company from asserting such fact or
circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
 (e) Date of Termination. “Date of
Termination” means (i) if the Executive’s employment is terminated by the Company for Cause, or by the Executive during the Window Period or for Good Reason, the date of receipt of the Notice of Termination or any later date specified
therein, as the case may be, (ii) if the Executive’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and
(iii) if the Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be. 
  

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 SECTION 5. Obligations of the Company upon Termination. 
 (a) Good Reason or during the Window Period; Other than for Cause, Death or Disability. If, during the Employment Period, the Company shall
terminate the Executive’s employment other than for Cause or Disability or the Executive shall terminate employment either for Good Reason or without any reason during the Window Period: 
 (i) the Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination the aggregate of the
following amounts: 
 (A) the sum of (1) the Executive’s Annual Base Salary through the Date of Termination to the
extent not theretofore paid, (2) the product of (x) the Highest Annual Bonus and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination, and the denominator of which is
365 and (3) the Special Bonus, if due to the Executive pursuant to Section 3(b)(iii), to the extent not theretofore paid, (4) any compensation previously deferred by the Executive (together with any accrued interest or earnings
thereon) that is payable upon termination of employment pursuant to the applicable deferred compensation plan and (5) any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts described in clauses (1),
(2), (3), (4) and (5) shall be hereinafter referred to as the “Accrued Obligations”); and 
 (B) the
amount (such amount shall be hereinafter referred to as the “Severance Amount”) equal to the product of (1) 2.99 and (2) the sum of (x) the Executive’s Annual Base Salary and (y) the Highest Annual Bonus; provided,
however, that if the Special Bonus has not been paid to the Executive, such amount shall be increased by the amount of the Special Bonus; and, provided further, that such amount shall be reduced by the present value (determined as provided in
Section 280G(d)(4) of the Internal Revenue Code of 1986, as amended (the “Code”)) of any other amount of severance relating to salary or bonus continuation to be received by the Executive upon termination of employment of the
Executive under any severance plan, policy or arrangement of the Company; and 
 (C) a separate lump-sum supplemental
retirement benefit (the amount of such benefit shall be hereinafter referred to as the “Supplemental Retirement Amount”) equal to the difference between (1) the actuarial equivalent (utilizing for this purpose the actuarial
assumptions utilized with respect to the Company’s Retirement Plan (or any successor plan thereto) (the “Retirement Plan”) during the 90-day period immediately preceding the Effective Date) of the benefit payable under the Retirement
Plan and any supplemental and/or excess retirement plan of the Company and its affiliated companies providing benefits for the Executive (the “SERP”) which the Executive would receive if the Executive’s employment continued at the
compensation level provided for in Sections 3(b)(i) and 3(b)(ii) for the remainder of the Employment Period, assuming for this purpose that all accrued benefits are fully vested and that benefit accrual formulas are no less advantageous to the
Executive than those in effect during the 90-day period immediately preceding the Effective Date, and (2) the actuarial equivalent (utilizing for this purpose the actuarial assumptions utilized with respect to the Retirement Plan during the
90-day period immediately preceding the Effective Date) of the Executive’s actual benefit (paid or payable), if any, under the Retirement Plan and the SERP; and 
 (ii) for the remainder of the Employment Period, or such longer period as any plan, program, practice or policy may provide, the Company
shall continue benefits other than health and dental benefits to the Executive and/or the Executive’s family at least equal in the aggregate to those which would have been provided to them in accordance with the plans, 

  

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programs, practices and policies described in Section 3(b)(v) if the Executive’s employment had not been terminated (such continuation of benefits
and the continuation of health and dental benefits pursuant to Section 5(a)(iii), in each case for the applicable period set forth, shall be hereinafter referred to as “Welfare Benefit Continuation”); and 
 (iii) for the remainder of the Employment Period, the Company shall provide health and dental benefits for the Executive (and the
Executive’s spouse and dependents if desired by the Executive and if the spouse does not have any health benefits through a current or former employer), at least equal in the aggregate to those which would have been provided to them in
accordance with the plans, programs, practices and policies described in Section 3(b)(v) if the Executive’s employment had not been terminated, and for the same cost to Employee that would have applied under Section 3(b)(v) if the
Executive’s employment had not been terminated. If the Executive becomes re-employed with another employer and is eligible to receive health and dental benefits under another employer-provided plan, the health and dental benefits described
herein shall be secondary to those provided under such other plan. For purposes of determining eligibility of the Executive for retiree benefits pursuant to such plans, practices, programs and policies, the Executive shall be considered to have
remained employed until the end of the Employment Period and to have retired on the last day of such period. Such benefits may be provided through a group health plan or through one or more individual insurance policies. The Company shall pay to the
Executive a payment (a “Benefits Gross Up Payment”) in an amount equal to all taxes, including, without limitation, any income taxes (including any interest or penalties imposed with respect to such taxes) imposed upon any coverage and
benefits provided pursuant to this Section 5(a)(iii) and imposed upon the Benefits Gross Up Payment. 
 (iv) to the
extent not theretofore paid or provided, the Company shall timely pay or provide to the Executive and/or the Executive’s family any other amounts or benefits required to be paid or provided or which the Executive and/or the Executive’s
family is eligible to receive pursuant to this Agreement and under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies as in effect and applicable generally to other peer executives of the
Company and its affiliated companies and their families during the 90-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally thereafter with respect to other peer executives of the Company
and its affiliated companies and their families (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”). 
 (v) to the extent not otherwise provided for herein, all options, warrants or other rights to acquire capital stock of the Company held by or for the benefit of the Executive shall become fully vested and eligible for
immediate exercise and all other rights of the Executive to receive cash compensation whether deferred or not (including benefits under any Stock Appreciation Rights Plan or other similar plan) shall become fully vested and the Executive shall
become entitled to payment thereof by the Company in a lump sum in cash within 30 days after the Date of Termination. 
  

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 (vi) Delay in Payments to
Specified Employee. Notwithstanding the foregoing, if the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) at the time of termination of employment, no payment pursuant to Section 5(a) of
this Agreement shall be made for six months following the date of termination, and to the extent that a benefit to be provided pursuant to Section 5(a) of this Agreement would be considered to be deferred compensation subject to
Section 409A, such benefit shall not be provided for six months following the date of termination. Any payments or benefits that are delayed pursuant to this Section 5(a)(vi) shall be accumulated and paid or provided (together with
compounded interest thereon at a rate equal to the greater of 6% or the Prime Rate in effect during such six-month period) on the 1st day of the seventh month following the termination of employment. 
 (b) Death. If the Executive’s employment is
terminated by reason of the Executive’s death during the Employment Period, this Agreement shall terminate without further obligations to the Executive’s legal representatives under this Agreement, other than for (i) payment of
Accrued Obligations (which shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination) and the timely payment or provision of the Welfare Benefit Continuation and Other
Benefits (excluding, in each case, Death Benefits (as defined below)) and (ii) payment to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination of an amount equal to the
greater of (A) the sum of the Severance Amount and the Supplemental Retirement Amount and (B) the present value (determined as provided in Section 280G(d)(4) of the Code) of any cash amount to be received by the Executive or the
Executive’s family as a death benefit pursuant to the terms of any plan, policy or arrangement of the Company and its affiliated companies, but not including any proceeds of life insurance covering the Executive to the extent paid for directly
or on a contributory basis by the Executive (which shall be paid in any event as an Other Benefit) (the benefits included in this clause (B) shall be hereinafter referred to as the “Death Benefits”). 
 (c) Disability. If the Executive’s employment is terminated by reason of the Executive’s Disability during the Employment Period, this
Agreement shall terminate without further obligations to the Executive, other than for (i) payment of Accrued Obligations (which shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination) and the timely
payment or provision of the Welfare Benefit Continuation and Other Benefits (excluding, in each case, Disability Benefits, as defined below) and (ii) payment to the Executive in a lump sum in cash within 30 days of the Date of Termination of an
amount equal to the greater of (A) the sum of the Severance Amount and the Supplemental Retirement Amount and (B) the present value (determined as provided in Section 280G(d)(4) of the Code) of any cash amount to be received by the
Executive as a disability benefit pursuant to the terms of any plan, policy or arrangement of the Company and its affiliated companies, but not including any proceeds of disability insurance covering the Executive to the extent paid for directly or
on a contributory basis by the Executive (which shall be paid in any event as an Other Benefit) (the benefits included in this clause (B) shall be hereinafter referred to as the “Disability Benefits”). 
  

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 (d) Cause; Other than for Good Reason. If the Executive’s employment shall be terminated for
Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive Annual Base Salary through the Date of Termination plus the amount of any compensation
previously deferred by the Executive, in each case to the extent theretofore unpaid. If the Executive terminates employment during the Employment Period, excluding a termination either for Good Reason or without any reason during the Window Period,
this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be paid to the Executive in a lump sum
in cash within 30 days of the Date of Termination. 
 (e) Non-exclusivity of Rights. Except as provided in Sections 5(a)(ii), 5(b) and
5(c), nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any plan, program, policy or practice provided by the Company or any of its affiliated companies and for which the Executive may
qualify, nor shall anything herein limit or otherwise affect such rights as the Executive may have under any contract or agreement with the Company or any of its affiliated companies. Amounts which are vested benefits or which the Executive is
otherwise entitled to receive under any plan, policy, practice of program of or any contract or agreement with the Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan,
policy, practice or program or contract or agreement except as explicitly modified by this Agreement. 
 SECTION 6. Full Settlement;
Resolution of Disputes. 
 (a) The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform
its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. In no event shall the Executive be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and, except as provided in Section 5(a)(ii), such amounts shall not be reduced whether or not the
Executive obtains other employment. The Company agrees to pay promptly as incurred, to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest (regardless of the outcome
thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the
amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code. 
 (b) If there shall be any dispute between the Company and the Executive (i) in the event of any termination of the Executive’s employment by
the Company, whether such 

  

 - 12 - 

 
termination was for Cause, or (ii) in the event of any termination of employment by the Executive, whether Good Reason existed, then, unless and until
there is a final, nonappealable judgment by a court of competent jurisdiction declaring that such termination was for Cause or that the determination by the Executive of the existence of Good Reason was not made in good faith, the Company shall pay
all amounts, and provide all benefits, to the Executive and/or the Executive’s family or other beneficiaries, as the case may be, that the Company would be required to pay or provide pursuant to Section 5(a) as though such termination were
by the Company without Cause, or by the Executive with Good Reason; provided, however, that the Company shall not be required to pay any disputed amount pursuant to this paragraph except upon receipt of an undertaking by or on behalf of the
Executive to repay all such amounts to which the Executive is ultimately adjudged by such court not to be entitled. If the Executive has maintained his or her position in the dispute in good faith (in the sole opinion of the court, which for this
purpose shall include any mediator or arbitrator, if the dispute is settled through mediation or arbitration), the Company shall reimburse the Executive for any attorneys’ fees and expenses incurred by the Executive with respect to such dispute
related to this Agreement, and including any actions taken by either party to appeal or enforce the judgment rendered therein. Such reimbursement shall be made by direct payment to the Executive upon delivery to the Company of valid invoices and/or
receipts relating to such attorneys’ fees and expenses. 
 SECTION 7. Certain Additional Payments by the Company. 
 (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company to or
for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 7) (a
“Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and
penalties, are hereinafter collectively referred to as the “Excise Tax”), payment (a “Gross-Up Payment”) in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect
to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the
Excise Tax imposed upon the Payments. 
 (b) Subject to the provisions of Section 7(c), all determinations required to be made under
this Section 7, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by a registered public accounting firm
selected by the Company in its sole and absolute discretion (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the receipt of notice from the
Executive that there has been a Payment, or such earlier time as is requested by the Company. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change of Control, the
Executive 

  

 - 13 - 

 
shall appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as
the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 7, shall be paid by the Company to the Executive within five days of
the receipt of the Accounting Firm’s determination, subject to delay as provided in Section 5(a)(vi) . If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion
that failure to report the Excise Tax on the Executive’s applicable federal income tax return would not result in the imposition of a negligence or similar penalty. Any determination by the Accounting Firm shall be binding upon the Company and
the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the
Company should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In the event that the Company exhausts its remedies pursuant to Section 7(c) and the Executive thereafter is required to
make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. 
 (c) The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the
Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after the Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the
date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which it gives such notice to the Company (or such shorter period ending on the date that any
payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that it desires to contest such claim, the Executive shall: 
 (i) give the Company any information reasonably requested by the Company relating to such claim, 
 (ii) take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time,
including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 
 (iii) cooperate with the Company in good faith in order effectively to contest such claim, and 
 (iv) permit the Company to participate in any proceedings relating to such claim; 
  

 - 14 - 

 provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and
penalties) incurred in connection with such contest and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such
representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 7(c), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo
any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Executive to pay the tax claimed and sue for a refund or contest the claim in
any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided,
however, that if the Company directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis and shall indemnify and hold the Executive harmless, on an
after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and further provided that any
extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s
control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue
Service or any other taxing authority. 
 (d) If, after the receipt by the Executive of an amount advanced by the Company pursuant to
Section 7(c), the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of Section 7(c)) promptly pay to the Company the amount of
such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 7(c), a determination is made that the Executive
shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance
shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
 SECTION 8. Confidential Information. The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive’s employment by the Company or any of its
affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement). After termination of the Executive’s employment with the Company,
the Executive shall not, without the prior written consent of the Company 

  

 - 15 - 

 
or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and
those designated by it. In no event shall an asserted violation of the provisions of this Section 8 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement. 
 SECTION 9. Successors. 
 (a) This
Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be
enforceable by the Executive’s legal representatives. 
 (b) This Agreement shall inure to the benefit of and be binding upon the
Company and its successors and assigns. 
 (c) The Company will require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it
if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by
operation of law, or otherwise. 
 SECTION 10. Miscellaneous. 
 (a) This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina, without reference to principles of
conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their
respective successors and legal representatives. 
 (b) All notices and other communications hereunder shall be in writing and shall be given
by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to the Executive:	  	 Highwoods Properties, Inc.
 3100 Smoketree Court,
Suite 600
 Raleigh, North Carolina 27604-1051
 Attention: Jeffrey
D. Miller

		
	If to the Company:	  	 Highwoods Properties, Inc.
 3100 Smoketree Court,
Suite 600
 Raleigh, North Carolina 27604-1051
 Attention:
Chairman of the Board of Directors

  

 - 16 - 

 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and
communications shall be effective when actually received by the addressee. 
 (c) The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
 (d) The Company may withhold from any
amounts payable under this Agreement such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 (e) The Executive’s or the Company’s failure to insist upon strict compliance with any provision hereof or any other provision of this Agreement or the failure to assert any right the Executive or the
Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to Section 4(c)(i)-(v), shall not be deemed to be a waiver of such provision or right or any other provision
or right of this Agreement. 
 (f) The Executive and the Company acknowledge that, except as may otherwise be provided under any other
written agreement between the Executive and the Company, the employment of the Executive by the Company is “at will” and, prior to the Effective Date, may be terminated by either the Executive or the Company at any time. Moreover, if prior
to the Effective Date, the Executive’s employment with the Company terminates, then the Executive shall have no further rights under this Agreement. 
  

 - 17 - 

 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the
authorization from its Board of Directors, the Company has caused this Agreement to be executed in its name on its behalf, all as of the day and year first above written. 
  

	
	EXECUTIVE:
	
	/s/ Jeffrey D. Miller
	Jeffrey D. Miller

  

			
	HIGHWOODS PROPERTIES, INC.
		
	By:	 	/s/ Edward J. Fritsch
		
	Name:	 	Edward J. Fritsch
		
	Title:	 	President and CEO

  

 - 18 -Employment Agreement, Keith B. Jackson, dated March 2, 2007

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This AGREEMENT (the “Agreement”) is made as of March 2, 2007,
by and among Boston Private Financial Holdings, Inc., a Massachusetts corporation with its headquarters located in Boston, Massachusetts (the “Employer”), Charter Bank (the “Bank”) and Keith B. Jackson (the
“Executive”), which shall be effective at the Effective Time of the Merger (as defined in the Agreement and Plan of Merger by and between the Employer and Charter Financial Corporation dated as of March 3, 2007 (the “Merger
Agreement”)). In the event that the Effective Time shall not occur, this Agreement shall be void ab initio and of no further force and effect. 
 WHEREAS, at the Effective Time, the Employer will acquire Charter Financial Corporation and its wholly-owned subsidiary, the Bank; 
 WHEREAS, following the Effective Time, the Employer will continue to operate the Bank under the name Charter Bank; 
 WHEREAS, the Executive is currently employed by the Bank as its Chairman and Chief Executive Officer and is a party to a Change in Control Severance Agreement with the Bank dated as of July 18, 2001 and amended September 20, 2006
(the “Severance Agreement”); 
 WHEREAS, following the Effective Time, the Employer and the Bank desire to continue to employ the
Executive as Chairman and Chief Executive Officer of the Bank, and the Executive desires to continue to be employed by the Employer and the Bank; 
 WHEREAS, the Executive acknowledges that, in his position he will be given access to and will help develop trade secrets, valuable confidential business or professional information, substantial customer relationships and customer good will
on behalf of the Bank and the Employer; 
 NOW THEREFORE, in consideration of the mutual promises contained in this Agreement, the Employer,
the Bank and the Executive agree as follows: 
 1. Employment. The Employer and the Bank agree to employ the Executive and the
Executive agrees to be employed by the Employer and the Bank on the terms and conditions set forth in this Agreement. 
 2.
Capacity. The Executive shall serve the Employer as Chairman and Chief Executive Officer of the Bank. The Executive shall also serve the Employer and the Bank in such other or additional offices that are consistent with the
Executive’s status and office, in consultation with the Executive, as the Executive may be requested to serve by the Employer’s Board of Directors, the Bank’s Board of Directors or the Employer’s Chief Executive Officer. In such
capacity or capacities, the Executive shall perform such services and duties in connection with the business, affairs and operations of the Employer and the Bank as are commensurate with the Executive positions and may be assigned or delegated to
the Executive from time to time by the Employer’s Board of Directors, the Bank’s Board of Directors or the Employer’s Chief Executive Officer. 
  

 3. Term. Subject to the provisions of Section 6, the term of employment pursuant to
this Agreement (the “Term”) shall be from the date on which the Effective Time occurs (the “Effective Date”) through and including the third anniversary of the Effective Date. 
 4. Compensation and Benefits. The regular compensation and benefits payable to the Executive under this Agreement shall be as follows:

 (a) Salary. The Bank shall pay to the Executive, for all services rendered by the Executive under this Agreement, a base salary at
the annual rate of One Hundred Ninety-Seven Thousand Dollars ($197,000). The Executive’s base salary shall be redetermined annually by the Bank’s Board of Directors and may be increased but not decreased. The base salary in effect at any
given time is referred to herein as “Salary.” The Salary shall be payable in periodic installments in accordance with the Bank’s usual practice for the Bank’s senior executives. 
 (b) Bonus. Beginning in calendar year 2007, the Bank shall establish an annual bonus program (the “Bank Management Bonus Pool”) for the
Bank’s key management personnel as designated by the Bank’s Board of Directors. The Bank Management Bonus Pool will be funded each year by the greater of 6% of bonus operating income (i.e., earnings before bonus, interest and taxes) or 18%
of economic profit (i.e., bonus operating income minus capital charge). For each calendar year during the Term commencing in calendar year 2007, the Executive shall be paid an annual bonus by the Bank (the “Annual Bonus”) pursuant to the
terms of the Bank Management Bonus Pool, which shall be paid by the Bank in annual installments on or about March 15 of each following year, provided that the Executive is employed pursuant to this Agreement on such payout date. 
 (c) Regular Benefits. The Executive shall also be entitled to participate in any employee benefit plans, medical insurance plans, life insurance
plans, disability income plans, retirement plans, vacation plans, expense reimbursement plans and other benefit plans which the Employer or the Bank may from time to time have in effect for all or most of the Bank’s senior executives. Such
participation shall be subject to the terms of the applicable plan documents, generally applicable policies of the Employer, applicable law and the discretion of the Employer’s Board of Directors, the Bank’s Board of Directors or any
administrative or other committee provided for in or contemplated by any such plan. Nothing contained in this Agreement shall be construed to create any obligation on the part of the Employer to establish any such plan or to maintain the
effectiveness of any such plan which may be in effect from time to time. Notwithstanding the foregoing, during the Term, the Employer shall cause the Bank to continue to maintain for the Executive, the life insurance and supplemental retirement
benefits maintained by the Bank for the Executive as of immediately prior to the Effective Time. 
 (d) Taxation of Payments and
Benefits. The Employer shall undertake to make deductions, withholdings and tax reports with respect to payments and benefits under this Agreement to the extent that it reasonably and in good faith believes that it is required to make such
deductions, withholdings and tax reports. Payments under this Agreement shall be in amounts net of any such deductions or withholdings. Nothing in this Agreement shall be construed to require the Employer to make any payments to compensate the
Executive for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit. 
  

 2 

 (e) Payout of Severance Agreement. At the Effective Time, the Executive shall receive a lump-sum
cash amount equal to the amount that the Executive would have received upon a severance (as defined in the Severance Agreement) immediately following the Effective Time under Section 3.2 of the Severance Agreement. 
 (f) Restricted Share Grants. 
 (i) Grant of Restricted Shares. On the Effective Date the Executive will received a grant of a number of restricted shares of the Employer (the “Restricted Shares”) pursuant to the terms of the Employer’s 2004 Stock
Option and Incentive Plan or any successor plan (the “Plan”), to the extent not inconsistent with the terms herewith, equal to the quotient obtained by dividing (x) $277,500 by (y) the closing price of the Employer’s common
stock on the Effective Date. 
 (ii) Vesting of Restricted Stock Grant. Subject to subsection (iii) below of this
Agreement, the Restricted Shares will vest on the date immediately prior to the third anniversary of the date of grant, subject to the Executive’s continuous employment with the Employer and/or the Bank on such date. 
 (iii) Potential for Accelerated Vesting of Restricted Shares. Notwithstanding the foregoing and any provision in the Plan
(including without limitation Section 7(c) thereof) to the contrary, the Restricted Shares shall immediately vest upon a Change of Control (as defined in the Plan) or upon the Executive’s death or disability. In the event of the
Executive’s termination of employment without Cause or for Good Reason, the Executive shall vest in a portion of his Restricted Shares determined by multiplying the number of shares with a fraction, the numerator being the number of days
employed at the Bank from the Effective Time and the denominator being 1095. 
 (g) Exclusivity of Salary and Benefits. During the
Term, the sole compensation to which the Executive shall be entitled under this Agreement is set forth herein. 
 5. Extent of
Service. During the Executive’s employment under this Agreement, the Executive shall, subject to the direction and supervision of the Employer’s Board of Directors, the Bank’s Board of Directors or the Employer’s Chief
Executive Officer, devote the Executive’s full business time, best efforts and business judgment, skill and knowledge to the advancement of the Employer’s and the Bank’s interests and to the discharge of the Executive’s duties
and responsibilities under this Agreement. The Executive shall not engage in any other business activity, except as may be approved by the Employer’s Board of Directors or the Bank’s Board of Directors; provided that nothing in this
Agreement shall be construed as preventing the Executive from: 
 (a) investing the Executive’s assets in any company or other entity in
a manner not prohibited by Section 7(d) and in such form or manner as shall not require any material activities on the Executive’s part in connection with the operations or affairs of the companies or other entities in which such
investments are made; or 
  

 3 

 (b) engaging in religious, charitable or other community or non-profit activities that do not impair the
Executive’s ability to fulfill the Executive’s duties and responsibilities under this Agreement. 
 6. Termination and
Termination Benefits. Notwithstanding the provisions of Section 3, the Executive’s employment under this Agreement shall terminate under the following circumstances set forth in this Section 6. 
 (a) Termination by the Bank for Cause. The Executive’s employment under this Agreement may be terminated for Cause without further liability
on the part of the Bank effective immediately upon a vote of the Bank’s Board of Directors and written notice to the Executive. Only the following shall constitute “Cause” for such termination: 
 (i) use of alcohol or a controlled substance which is materially and demonstrably injurious to the Employer or the Bank; 
 (ii) the conviction of the Executive for, or a plea of guilty or nolo contendere by the Executive to, a felony (other than traffic
offenses); 
 (iii) intentional refusal by the Executive to perform his stated and lawful duties hereunder in any material
respect, after written notice to the Executive and an opportunity to cure and for the Executive to be heard by the Bank’s Board of Directors; 
 (iv) willful breach of fiduciary duty owed by the Executive to the Employer or the Bank, which is materially and demonstrably injurious to the Employer or the Bank; 
 (v) the Executive’s gross negligence or willful misconduct in the performance of his duties hereunder or the material breach of any
of the terms of this Agreement by the Executive, after written notice to the Executive and an opportunity for the Executive to cure and be heard by the Bank’s Board of Directors; or 
 (vi) willful failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement
authorities, after being instructed by the Employer and the Bank to cooperate, or the willful destruction or failure to preserve documents or other materials known to be relevant to such investigation or the willful inducement of others to fail to
cooperate or to produce documents or other materials. 
 (b) Termination by the Executive. The Executive’s employment under this
Agreement may be terminated by the Executive without Good Reason (as defined below) by written notice to the Bank’s Board of Directors at least 90 days prior to such termination without Good Reason. 
 (c) Death or Disability. Executive’s employment shall terminate immediately upon Executive’s death. If the Executive shall be disabled
so as to be unable to perform the essential functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation, the Employer’s Chief Executive Officer 

  

 4 

 
or the Bank’s Board of Directors may remove the Executive from any responsibilities and/or reassign the Executive to another position with the Employer
for the remainder of the Term or during the period of such disability. Notwithstanding any such removal or reassignment, the Executive shall continue to receive the Executive’s full Salary (less any disability pay or sick pay benefits to which
the Executive may be entitled under the Employer’s policies) and benefits under Section 4 of this Agreement (except to the extent that the Executive may be ineligible for one or more such benefits under applicable plan terms) for a period
of time equal to the lesser of (i) six (6) months; or (ii) the remainder of the Term. If any question shall arise as to whether during any period the Executive is disabled so as to be unable to perform the essential functions of the
Executive’s then existing position or positions with or without reasonable accommodation, the Executive may, and at the request of the Employer shall, submit to the Employer a certification in reasonable detail by a physician selected by the
Employer to whom the Executive or the Executive’s guardian has no reasonable objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for the purposes of this
Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such certification, the
Employer’s determination of such issue shall be binding on the Executive. Nothing in this Section 6(c) shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation, the Family and
Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq. 
 (d) Termination by the Bank Without Cause. Subject to the payment of Termination Benefits pursuant to Section 6(f), below, the Executive’s employment under this Agreement may be terminated by the Bank without Cause upon
written notice to the Executive by a vote of the Bank’s Board of Directors. 
 (e) Change of Control Provisions. 
 (i) “Change of Control” shall have the meaning set forth in the Employer’s 2004 Stock Option and Incentive Plan as in
effect on the date hereof. 
 (ii) If, within one year following a Change of Control, the Bank terminates the Executive’s
employment without Cause or if the Executive terminates his employment with Good Reason, the Executive will be entitled to the payment of Termination Benefits pursuant to Section 6(f) below. For purposes of this Agreement, “Good
Reason” shall mean: 
 (A) the assignment to the Executive, without the prior written consent of the Executive, of any
substantial duties inconsistent with the Executive’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 2 of this Agreement, or any other action by the
Employer or the Bank which results in a substantial diminution in such position, authority, duties or responsibilities; 
 (B)
any failure by the Employer or the Bank to materially comply with any of the provisions of Section 4 of this Agreement; or 
  

 5 

 (C) a material breach by the Employer or the Bank of this Agreement; or 
 (D) any requirement by the Employer or the Bank that the Executive’s services be rendered primarily at a location or locations more
than 35 miles outside of Bellevue, Washington. 
 The Executive shall provide the Employer with reasonable notice and an opportunity to cure
any of the events listed in this Section 6(c) and the Executive shall not be entitled to compensation pursuant to Section 6(g) unless the Employer fails to cure within a reasonable period, which shall in no event exceed ten
(10) business days. 
 (iii) It is the intention of the Executive and of the Employer and the Bank that no payments by
the Employer or the Bank to or for the benefit of the Executive under this Agreement or any other agreement or plan, if any, pursuant to which the Executive is entitled to receive payments or benefits shall be nondeductible to the Employer by reason
of the operation of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) relating to parachute payments or any like statutory or regulatory provision. Accordingly, and notwithstanding any other provision of this
Agreement or any such agreement or plan, if by reason of the operation of said Section 280G or any like statutory or regulatory provision, any such payments exceed the amount which can be deducted by the Employer, such payments shall be reduced
to the maximum amount which can be deducted by the Employer. To the extent that payments exceeding such maximum deductible amount have been made to or for the benefit of the Executive, such excess payments shall be refunded to the Employer with
interest thereon at the applicable Federal rate determined under Section 1274(d) of the Code, compounded annually, or at such other rate as may be required in order that no such payments shall be nondeductible to the Employer by reason of the
operation of said Section 280G or any like statutory or regulatory provision. To the extent that there is more than one method of reducing the payments to bring them within the limitations of said Section 280G or any like statutory or
regulatory provision, the Executive shall determine which method shall be followed, provided that if the Executive fails to make such determination within ten days after the Employer has given notice of the need for such reduction, the Employer may
determine the method of such reduction in its sole discretion. 
 (f) Certain Termination Benefits. Unless otherwise specifically
provided in this Agreement or otherwise required by law, all compensation and benefits payable to the Executive under this Agreement shall terminate on the date of termination of the Executive’s employment under this Agreement other than the
Accrued Obligations which shall be defined to mean the sum of (1) the Executive’s accrued base salary and any accrued vacation pay through the date of termination, (2) the Executive’s business expenses that have not been
reimbursed by the Bank as of the date of termination that were incurred by the Executive prior to the date of termination in accordance with the applicable Employer policy, and (3) the Executive’s annual bonus earned for the fiscal year
immediately preceding the fiscal year in which the date of termination occurs if such bonus has been determined but not paid as of the date of termination. Notwithstanding the foregoing, in the event of termination of the Executive’s employment
with 

  

 6 

 
the Bank by the Bank without Cause or by the Executive for Good Reason within one year following a Change of Control and subject to the Executive’s
agreement to a release of any and all legal claims in the form attached hereto as Exhibit A, the Bank shall provide to the Executive the following termination benefits (“Termination Benefits”): 
 (i) the product of (1) the annual bonus earned by the Executive with respect to the most recently completed fiscal year preceding the
date of termination (the “Reference Bonus”), and (2) a fraction, the numerator of which is the number of days in the fiscal year in which the date of termination occurs through the date of termination, and the denominator of which is
365 (the “Pro Rata Bonus”); 
 (ii) the amount equal to the product of (1) one and (2) the sum of
(x) the Executive’s Salary as in effect immediately prior to the date of termination and (y) the Reference Bonus; and 
 (iii) Continued participation in the Bank’s medical and dental insurance plan at the active employee’s rate for 18 months. 
 (iv) Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s termination of employment, the Executive is considered a “specified employee” within the meaning of
Section 409A(a)(2)(B)(i) of the Code, and if any payment that the Executive becomes entitled to under this Agreement is considered deferred compensation subject to interest and additional tax imposed pursuant to Section 409A(a) of the Code
as a result of the application of Section 409A(a)(2)(B)(i) of the Code, then no such payment shall be payable prior to the date that is the earliest of (i) six months after the Executive’s Date of Termination, (ii) the
Executive’s death, or (iii) such other date as will cause such payment not to be subject to such interest and additional tax, and the initial payment shall include a catch-up amount covering amounts that would otherwise have been paid
during the first six-month period but for the application of this Section 6(f)(iii). 
 (g) Non-Exclusivity of Rights. Nothing in
this Agreement shall prevent or limit the Executive’s continuing or future participation in any plan, program, policy or practice provided by the Employer, the Bank or the affiliates of either of them and for which the Executive may qualify,
nor shall anything herein limit or otherwise affect such rights as the Executive may have under any other contract or agreement with the Employer or any of its affiliates, except the Severance Agreement, which is superseded as specified in
Section 10 herein. Amounts that are vested benefits or that the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any other contract or agreement with the Employer or its affiliates at or subsequent to
the date of termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement, except as explicitly modified by this Agreement. Notwithstanding the foregoing, if the Executive receives payments and
benefits pursuant to Section 6(f) of this Agreement, the Executive shall not be entitled to any severance pay or benefits under any severance plan, program or policy of the Employer or any of its affiliates. 
  

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 (h) Full Settlement. The Bank’s obligation to make the payments provided for in this
Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right or action that the Employer may have against the Executive or others. In no event shall the
Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not the Executive
obtains other employment. 
 7. Confidential Information, Noncompetition, Nonacceptance and Cooperation. 
 (a) Confidential Information. As used in this Agreement, “Confidential Information” means information belonging to the Employer and the
Bank which is of value to the Employer and the Bank in the course of conducting their business and the disclosure of which could result in a competitive or other disadvantage to the Employer or the Bank. Confidential Information includes, without
limitation, financial information, reports, and forecasts; inventions, improvements and other intellectual property; trade secrets; know-how; designs, processes or formulae; software; market or sales information or plans; customer lists; and
business plans, prospects and opportunities (such as possible acquisitions or dispositions of businesses or facilities) which is of value to the Employer and the Bank in the course of conducting its business and the disclosure of which could result
in a competitive or other disadvantage to the Employer and the Bank. Confidential Information includes information developed by the Executive in the course of the Executive’s employment by the Bank, as well as other information to which the
Executive may have access in connection with the Executive’s employment. Confidential Information also includes the confidential information of others with which the Employer has a business relationship. Notwithstanding the foregoing,
Confidential Information does not include information in the public domain, unless due to breach of the Executive’s duties under Section 7(b). 
 (b) Confidentiality. The Executive understands and agrees that the Executive’s employment creates a relationship of confidence and trust between the Executive and the Employer and the Bank with respect to
all Confidential Information. At all times, both during the Executive’s employment with the Employer and the Bank and after its termination, the Executive will keep in confidence and trust all such Confidential Information, and will not use or
disclose any such Confidential Information without the written consent of the Employer and the Bank, except as may be necessary in the ordinary course of performing the Executive’s duties to the Employer or as may be required by applicable law
or pursuant to court order. 
 (c) Documents, Records, etc. All documents, records, data, apparatus, equipment and other physical
property, whether or not pertaining to Confidential Information, which are furnished to the Executive by the Employer and the Bank or are produced by the Executive in connection with the Executive’s employment will be and remain the sole
property of the Employer and the Bank. The Executive will return to the Employer and the Bank all such materials and property as and when requested by the Employer and the Bank. In any event, the Executive will return all such materials and property
immediately upon termination of the Executive’s employment for any reason. The Executive will not retain with the Executive any such material or property or any copies thereof after such termination. 
  

 8 

 (d) Noncompetition, Nonsolicitation and Nonacceptance. During the Term and for two (2) years
following the Executive’s termination of employment during or upon expiration of the Term, the Executive (i) will not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise,
engage, participate, assist or invest in any Competing Business (as hereinafter defined); (ii) will refrain from directly or indirectly employing, attempting to employ, recruiting or otherwise soliciting, inducing or influencing any person to
leave employment with the Employer or the Bank (other than terminations of employment of subordinate employees undertaken in the course of the Executive’s employment with the Employer and the Bank); (iii) will refrain from directly or
indirectly soliciting or encouraging any client or supplier to terminate or otherwise modify adversely its business relationship with the Employer or the Bank, and (iv) will refrain from directly or indirectly accepting banking business from a
client doing business with the Bank at the time of the Executive’s termination of employment in King County, Washington and in any county in which the Executive last worked The provisions of subsections (ii) ,(iii) and (iv) are
intended to prohibit actions taken directly by the Executive or indirectly by the Executive through another entity with which the Executive is associated, either as an owner, partner, shareholder, consultant, agent, employee, co-venturer or
otherwise. The Executive understands that the restrictions set forth in this Section 7(d) are intended to protect the Employer’s and the Bank’s interest in its Confidential Information and established employee, client and supplier
relationships and goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose. For purposes of this Agreement, the term “Competing Business” shall mean a business conducted anywhere in the United States
which is competitive with any business which the Employer, the Bank or any affiliates of either of them conducts or proposes to conduct at any time during the employment of the Executive. Notwithstanding the foregoing, the Executive may own up to
one percent (1%) of the outstanding stock of a publicly held corporation which constitutes or is affiliated with a Competing Business. In the event the Employer or the Bank terminates the Executive without cause or the Executive terminates for
Good Reason, the restrictions set forth in this Section 7(d) shall cease to apply. 
 (e) Third-Party Agreements and Rights. The
Executive hereby confirms that the Executive is not bound by the terms of any agreement with any previous employer or other party which restricts in any way the Executive’s use or disclosure of information or the Executive’s engagement in
any business. The Executive represents to the Employer that the Executive’s execution of this Agreement, the Executive’s employment with the Employer and the performance of the Executive’s proposed duties for the Employer will not
violate any obligations the Executive may have to any such previous employer or other party. In the Executive’s work for the Employer, the Executive will not disclose or make use of any information in violation of any agreements with or rights
of any such previous employer or other party, and the Executive will not bring to the premises of the Employer any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other
party. 
 (f) Litigation and Regulatory Cooperation. During and after the Executive’s employment, the Executive shall cooperate
fully with the Employer and the Bank in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Employer or the Bank which relate to events or occurrences that transpired
while the Executive was employed by the Employer and the Bank. The 

  

 9 

 
Executive’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to
prepare for discovery or trial and to act as a witness on behalf of the Employer or the Bank at mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate fully with the Employer and the Bank in
connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Employer and the Bank. To
the extent that the Employer or the Bank seeks the Executive’s cooperation pursuant to this Section after the Executive’s employment has terminated, the Employer and the Bank agree that any time spent by the Executive will be scheduled at
times that do not unreasonably interfere with other business or personal obligations of the Executive and that the Executive will be compensated at a rate of $200 per hour for any time spent by the Executive on the Employer’s or the Bank’s
behalf pursuant to this Section other than time spent providing testimony. The Employer and the Bank shall reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive’s performance of obligations
pursuant to this Section 7(f), including any legal fees incurred by the Executive in connection with his cooperation with the Employer pursuant to this section. 
 (g) Injunction. The Executive agrees that it would be difficult to measure any damages caused to the Employer which might result from any breach by the Executive of the promises set forth in this
Section 7, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, subject to Section 8 of this Agreement, the Executive agrees that if the Executive breaches, or proposes to breach, any portion
of this Agreement, the Employer and the Bank shall be entitled, in addition to all other remedies that they may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to
the Employer or the Bank. 
 8. Arbitration of Disputes. Any controversy or claim arising out of or relating to this Agreement
or the breach thereof or otherwise arising out of the Executive’s employment or the termination of that employment (including, without limitation, any claims of unlawful employment discrimination whether based on age or otherwise) shall, to the
fullest extent permitted by law, be settled by arbitration in any forum and form agreed upon by the parties or, in the absence of such an agreement, under the auspices of the American Arbitration Association (“AAA”) in Seattle, Washington
in accordance with the Employment Dispute Resolution Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event that any person or entity other than the Executive, the Employer
or the Bank may be a party with regard to any such controversy or claim, such controversy or claim shall be submitted to arbitration subject to such other person or entity’s agreement. Judgment upon the award rendered by the arbitrator may be
entered in any court having jurisdiction thereof. This Section 8 shall be specifically enforceable. Notwithstanding the foregoing, this Section 8 shall not preclude any party from pursuing a court action for the sole purpose of obtaining a
temporary restraining order or a preliminary injunction in circumstances in which such relief is appropriate; provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section 8. 
 9. Consent to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce Section 8 of this
Agreement, the parties hereby consent to the 

  

 10 

 
jurisdiction of the Superior Court of the State of Washington and the United States District Court for the District of Washington. Accordingly, with respect
to any such court action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with
respect to personal jurisdiction or service of process. 
 10. Integration. This Agreement constitutes the entire agreement
between the Employer and the Bank, on the one hand, and the Executive, on the other hand, with respect to the subject matter hereof and, as of the Effective Time, supersedes all prior agreements between the parties with respect to any related
subject matter including without limitation the Severance Agreement. 
 11. Assignment; Successors and Assigns, etc. Neither
the Employer, the Bank nor the Executive may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other party; provided that the Employer or the Bank will
require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Employer or the Bank to assume expressly and agree to perform this Agreement in the
same manner and to the same extent that the Employer or the Bank would be required to perform it if no such succession had taken place and such assignment and assumption shall not constitute a termination by the Employer without Cause for purposes
of this Agreement. This Agreement shall inure to the benefit of and be binding upon the Employer, the Bank and the Executive, their respective successors, executors, administrators, heirs and permitted assigns. 
 12. Enforceability. If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section
of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it
is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 
 13. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any
party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent
breach. 
 14. Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be
sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed
in writing with the Bank or, in the case of the Employer, at its main offices, attention of the Employer’s Chief Executive Officer, or in the case of the Bank, at its main offices, attention of the Bank’s Board of Directors, and shall be
effective on the date of delivery in person or by courier or three (3) days after the date mailed. 
  

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 15. Amendment. This Agreement may be amended or modified only by a written instrument
signed by the Executive and by a duly authorized representative of the Employer. 
 16. Governing Law. This is a Washington
contract and shall be construed under and be governed in all respects by the laws of the State of Washington, without giving effect to the conflict of laws principles of such State. With respect to any disputes concerning federal law, such disputes
shall be determined in accordance with the law as it would be interpreted and applied by the United States Court of Appeals for the Ninth Circuit. 
 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Employer and the Bank, by their duly authorized officers, and by the Executive, as of the Effective Date. 
  

			
	BOSTON PRIVATE FINANCIAL HOLDINGS, INC.
		
	By:	 	  

		 	Walter M. Pressey
		 	President
	
	CHARTER BANK
		
	By:	 	  

	Title:	 	
	
	  

	Keith B. Jackson

  

 12 

 EXHIBIT A 
 Release Agreement 
 For and in consideration of the payments and other benefits described in
the employment agreement dated as of March 2, 2007 (the “Agreement”) by and by and among Boston Private Financial Holdings, Inc., a Massachusetts corporation with its headquarters located in Boston, Massachusetts (the
“Employer”), Charter Bank, a Washington banking corporation, and Keith B. Jackson (“Executive”), and for other good and valuable consideration, Executive hereby releases the Employer, the Bank, their divisions,
affiliates, subsidiaries, parents, branches, predecessors, successors, assigns, officers, directors, trustees, employees, agents, shareholders, administrators, representatives, attorneys, insurers and fiduciaries, past, present and future (the
“Released Parties”) from any and all claims of any kind arising out of, or related to, his employment with the Employer, the Bank, their affiliates and subsidiaries (collectively, with the Employer and the Bank, the
“Affiliated Entities”), his separation from employment with the Affiliated Entities or derivative of Executive’s employment, which Executive now has or may have against the Released Parties, whether known or unknown to
Executive, by reason of facts which have occurred on or prior to the date that Executive has signed this Release. Such released claims include, without limitation, any and all claims under federal, state or local laws pertaining to employment,
including, without limitation, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000e et. seq., the Fair Labor Standards Act, as amended, 29 U.S.C.
Section 201 et. seq., the Americans with Disabilities Act, as amended, 42 U.S.C. Section 12101 et. seq. the Reconstruction Era Civil Rights Act, as amended, 42 U.S.C. Section 1981 et. seq., the
Rehabilitation Act of 1973, as amended, 29 U.S.C. Section 701 et. seq., the Family and Medical Leave Act of 1992, 29 U.S.C. Section 2601 et. seq., and any and all state or local laws regarding employment
discrimination and/or federal, state or local laws of any type or description regarding employment, including but not limited to any claims arising from or derivative of Executive’s employment with the Affiliated Entities; as well as any and
all other claims under state contract or tort law all claims of breach of either express or implied contract, including, but not limited to, all claims that the Employer engaged in, any tortious conduct; all claims for salary, wages, bonus pay
vacation pay, separation pay, equity compensation, expense reimbursement, or any other form of compensation; all claims for attorney’s fees; and all claims for reinstatement of employment with the Employer. 
 Executive has read this Release carefully, acknowledges that Executive has been given at least 21 days to consider all of its terms and has been
advised to consult with any attorney and any other advisors of Executive’s choice prior to executing this Release, and Executive fully understands that by signing below Executive is voluntarily giving up any right which Executive may have to
sue or bring any other claims against the Released Parties, including any rights and claims under the Age Discrimination in Employment Act. Executive also understands that Executive has a period of seven days after signing this Release within
which to revoke his agreement, and that neither the Employer nor any other person is obligated to make any payments or provide any other benefits to Executive pursuant to the Agreement until eight days have passed since Executive’s signing
of this Release without Executive’s signature having been revoked, other than the Accrued Obligations and the Other Benefits (in each case, as defined in the Agreement). Finally, Executive has not been forced or pressured in any manner
whatsoever to sign this Release, and Executive agrees to all of its terms voluntarily. 
  

 13 

 Notwithstanding anything else herein to the contrary, this Release shall not affect: the obligations of
the Affiliated Entities set forth in the Agreement or other obligations that, in each case, by their terms, are to be performed after the date hereof by the Affiliated Entities (including, without limitation, obligations to Executive under any stock
option, stock award or agreements or obligations under any pension plan or other benefit or deferred compensation plan, all of which shall remain in effect in accordance with their terms); obligations to indemnify Executive respecting acts or
omissions in connection with Executive’s service as a director, officer or employee of the Affiliated Entities; any right Executive may have as a shareholder of the Employer; or any right Executive may have to obtain contribution in the event
of the entry of judgment against Executive as a result of any act or failure to act for which both Executive and any of the Affiliated Entities are jointly responsible. 
  

					
	  
	 		 	  

	Date	 		 	Keith B. Jackson

  

 14

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