Document:

EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
 SERVICES AND
COVENANT AGREEMENT 
 THIS SERVICES AND COVENANT AGREEMENT (this “Agreement”), dated as of June 11, 2018, is
entered into by and between Cadence Bancorporation, a Delaware corporation (“Parent”), and J. Thomas Wiley, Jr. (the “Advisor”), to be effective upon the occurrence of the Effective Time (as defined in the Agreement
and Plan of Merger, dated as of May 11, 2018 (the “Merger Agreement”), by and between Parent and State Bank Financial Corporation, a Georgia corporation (the “Company”)). If the Effective Time does not occur,
this Agreement shall be null and void ab initio and of no further force and effect. All capitalized terms that are not defined in this Agreement shall have the meanings ascribed to such terms in the Merger Agreement. 

WHEREAS, the Advisor has invaluable knowledge and expertise regarding the business of the Company; 

WHEREAS, due to the Advisor’s knowledge and expertise, Parent wishes to have the cooperation of, access to, and services of the Advisor
following the Effective Time; 
 WHEREAS, the covenants set forth herein, including without limitation the nonsolicitation and
noncompetition covenants set forth in Section 5, are being entered into in connection with and for the purpose of furthering the transactions contemplated by the Merger Agreement, and the Advisor’s willingness to enter
into this Agreement is a material consideration for Parent in connection with Parent’s willingness to enter into the Merger Agreement; and 

WHEREAS, Parent and the Advisor have mutually agreed that the Advisor shall serve as a member of the Board of Directors of Parent (the
“Parent Board”) and Chairman of the Board of Directors (the “Parent Bank Board”) of Cadence Bank, N.A., a national banking association (“Parent Bank”). 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Parent and the Advisor
hereby agree as follows: 
 1. Termination of Employment; Initial Payment; 2018 Prorated Bonus. 

(a) Termination of Employment. Effective as of the date on which the Effective Time occurs (the “Effective Date”), the
Advisor shall cease to be an employee of Parent, the Company, and their respective affiliates (as defined in the Merger Agreement). 
 (b)
Initial Payment. In full satisfaction of the obligations under the Amended and Restated Employment Agreement, effective as of December 31, 2014 (the “Prior Agreement”), by and among the Company, State Bank and Trust
Company, a Georgia banking corporation, and the Advisor, subject to the execution, delivery, and non-revocation of a general release of claims in favor of Parent in the form attached hereto as
Exhibit A and in consideration for the restrictive covenants in the Prior Agreement as expanded by this Agreement (the “Payment Conditions”), the Advisor shall receive (i) $2,380,731, payable in a lump
sum on the Effective Date (the “Severance Payment”), and (ii) a monthly cash payment equal to the employee’s premiums under the Consolidated Omnibus Budget Reconciliation Act of 1985, as

 
amended (“COBRA”), for up to 36 months following the Effective Date in accordance with Section 3.3.2 of the Prior Agreement, in each case, subject to
Sections 6 and 7(b). The Advisor shall not be entitled to any additional severance in connection with the Advisor’s termination of employment as of the Effective Date or other benefits under any plan or policy
of Parent, the Company, or their respective affiliates, other than in respect of (A) Company equity awards granted prior to the date hereof, which shall be treated as provided in the applicable award agreements and the Merger Agreement,
(B) any vested rights under any tax-qualified benefit plans of the Company, (C) the prorated bonus described in Section 1(c), and (D) any rights to continuation
coverage under COBRA at the Advisor’s expense. 
 (c) 2018 Prorated Bonus. If the Effective Date occurs in
2018 and subject to the Payment Conditions, the Advisor shall be eligible to receive an annual incentive award under the annual incentive plan applicable to the Advisor immediately prior to the Effective Time, based on a target bonus of 50% of the
Advisor’s annual base salary as of the date hereof ($550,000) and on the performance of the Company for 2018 through the Effective Date (as determined in the ordinary course and consistent with past practice), and prorated for the portion of
the year elapsed prior to the Effective Date, payable no later than February 15, 2019. Notwithstanding the foregoing, in no event will the Advisor receive the prorated bonus hereunder if a bonus in respect of such period of services has
previously been paid. 
 (d) Withholding. Notwithstanding Section 8(a), Parent or its applicable affiliate
may deduct from each payment of compensation payable under this Section 1 all amounts required to be deducted and withheld in accordance with applicable federal, state, and local income tax, employment tax, and other
withholding requirements. 
 2. Term. The Advisor shall render advisory services, on the terms and subject to the conditions set forth
in this Agreement, for the period beginning on the Effective Date and ending on the first anniversary of the Effective Date, unless earlier terminated in accordance with Section 4 (the “Term”). 

3. Services; Remuneration. 

(a) Advisory Services. During the Term, the Advisor shall provide general advisory services as requested by the Chief Executive Officer
of Parent Bank (the “CEO”) with respect to the business of Parent, including (i) maintaining and developing new relationships with customers and clients, (ii) advising with respect to community relations issues and
building new relationships in Parent’s market area, (iii) continuing to be available to attend and make speeches at team member, industry, customer, and community events, and (iv) assisting on specific projects for Parent with respect
to its business and the integration of the Company, each as may be reasonably requested by the CEO. 
 (b) Advisor Fee; Expense
Reimbursement; Office. In consideration for agreeing to provide the services set forth in Section 3 and for the restrictive covenants set forth in the Prior Agreement, as expanded by Section 5,
during the Term, the Advisor shall be paid an annual advisory fee of $100,000 (the “Advisor Fee”), payable in equal monthly installments in arrears no later than the fifth business day of each calendar month, with the first and last
such payments to be prorated as necessary to reflect a period of service that is less than a full month. 

  
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Parent shall reimburse the Advisor pursuant to Parent’s reimbursement policies as in effect from time to time for reasonable business expenses incurred by the Advisor in connection with the
performance of the services described in this Section 3. During the Term, Parent shall provide the Advisor with an office in Atlanta, Georgia. 

(c) Sole Consideration. Except as specifically provided herein and except for the compensation payable to the Advisor in respect of the
Advisor’s services on the Parent Board and Parent Bank Board as in effect from time to time, the Advisor shall be entitled to no other compensation or benefits from Parent with respect to the advisory services, shall not be eligible to
participate in or accrue benefits under any employee benefit plans of Parent and its affiliates, and shall not be credited with service or age credit for purposes of eligibility, vesting, or benefit accrual under any employee benefit plan of Parent
or its affiliates. 
 (d) Separation from Service. Parent confirms that it is currently expected that the Advisor’s duties as an
advisor shall not exceed 20% of the average level of bona fide services performed by the Advisor as an employee during the Advisor’s employment with the Company during the 36-month period
immediately preceding the Effective Date, consistent with the parties’ intent that such termination of employment upon the Effective Date shall constitute a “separation from service” within the meaning of Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”). 
 4. Termination. 

(a) Termination. Either Parent or the Advisor may terminate the Term at any time and for any reason (or no reason) by providing the
other party with 30 days’ advance written notice of such termination. 
 (b) Payments upon Termination. Upon termination of
the Term for any reason, Parent shall pay to the Advisor any earned but unpaid Advisor Fees for the services rendered prior to the date of termination and shall reimburse the Advisor for any business expenses incurred prior to such termination and
for which the Advisor would be entitled to reimbursement pursuant to Section 3(b), in each case, within 10 business days following the date of termination. In addition, upon a termination of the Term by Parent without
Cause (as defined below), the Advisor shall receive the unpaid Advisor Fees that the Advisor would have received had the Advisor continued to perform services under this Agreement for the original Term, to be paid at the times as such Advisor Fees
would have been paid had the Advisor continued to perform services under this Agreement, subject to the Advisor’s continued compliance with the restrictive covenants set forth in Section 5 through the applicable
payment dates. 
 (c) Definition of Cause. For purposes of this Agreement, “Cause” means (i) a material breach
of the terms of this Agreement by the Advisor, including, without limitation, failure by the Advisor to perform the Advisor’s duties and responsibilities in the manner and to the extent required under this Agreement, which breach remains
uncured after the expiration of 30 days following the delivery of written notice of such breach to the Advisor by Parent; (ii) conduct by the Advisor that (A) constitutes fraud, dishonesty, gross malfeasance of duty, or conduct
grossly inappropriate to the Advisor’s office and (B) is demonstrably likely to lead to material injury to Parent or resulted or was intended to result in direct or indirect gain to or 

  
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personal enrichment of the Advisor; (iii) conduct resulting in the conviction of the Advisor of a felony; or (iv) conduct by the Advisor that results in the permanent removal of the
Advisor from his position as a service provider of Parent pursuant to a written order by any regulatory agency with authority or jurisdiction over Parent or Parent Bank. 

5. Restrictive Covenants. 

(a) Nondisclosure. 
 (i)
Ownership of Information. All Parent Information (as defined below) received or developed by the Advisor while employed by Parent or its affiliates will remain the sole and exclusive property of Parent or such affiliate. For all purposes of
this Section 5, references to Parent and its affiliates shall include the Company and its affiliates and any predecessor or successor entities. 

(ii) Obligations of the Advisor. The Advisor agrees (A) to hold Parent Information in strictest confidence, and (B) not to
use, duplicate, reproduce, distribute, disclose, or otherwise disseminate Parent Information or any physical embodiments thereof and may in no event take any action causing, or fail to take any action necessary to prevent, any Parent Information
from losing its character or ceasing to qualify as Confidential Information or a Trade Secret. If the Advisor is required by law to disclose any Parent Information, the Advisor shall not make such disclosure unless (and then, only to the extent
that) the Advisor has been advised by independent legal counsel that such disclosure is required by law and then only after prior written notice is given to Parent when the Advisor becomes aware that such disclosure has been requested and is
required by law. This Section 5(a) shall survive for a period of 12 months following termination of this Agreement with respect to Confidential Information, and shall survive termination of this Agreement for so long
as is permitted by the then-current Georgia Trade Secrets Act of 1990, O.C.G.A. §§ 10-1-760 to 767, with respect to Trade Secrets. Nothing contained
herein shall limit the Advisor’s obligations as an officer and director of Parent and its affiliates. 
 (iii) Delivery upon Request
or Termination. Upon request by Parent, and in any event upon termination of the Advisor’s service to Parent, the Advisor shall promptly deliver to Parent all property belonging to Parent and its affiliates, including, without limitation,
all Parent Information then in the Advisor’s possession or control. 
 (b) Noncompetition. The Advisor agrees that, for a period
of 36 months following the Effective Date (the “Restricted Period”), the Advisor shall not (except on behalf of or with the prior written consent of Parent), within the Area (as defined below), either directly or indirectly, on
the Advisor’s own behalf or in the service or on behalf of others, whether as an employee, director, consultant, independent contractor, or in any other capacity that involves duties and responsibilities similar to those undertaken for Parent
or its affiliates, engage in any business that is the same as or essentially the same as the Business (as defined below); provided, however, that this Section 5(b) shall not preclude the Advisor from engaging
in any of the activities historically conducted by Bankers Capital Group, LLC, which include the acquisition of less than bank-quality debt, private equity investments, and investment fund sponsorship. 

  
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 (c) Nonsolicitation of Customers. The Advisor agrees that, during the Restricted
Period, the Advisor shall not (except on behalf of or with the prior written consent of Parent), on the Advisor’s own behalf or in the service or on behalf of others, solicit, divert, or appropriate or attempt to solicit, divert, or
appropriate, directly or by assisting others, any business from any of Parent’s or its affiliates’ customers, including actively sought prospective customers, with whom the Advisor has or had material contact during the last 12 months
of the Advisor’s employment with or service to Parent and its affiliates, for purposes of providing products or services that are competitive with those provided by Parent or its affiliates. 

(d) Nonsolicitation of Employees. The Advisor agrees that, during the Restricted Period, the Advisor shall not on the Advisor’s own
behalf or in the service or on behalf of others, solicit, recruit, or hire away or attempt to solicit, recruit, or hire away, directly or by assisting others, any employee of Parent or its affiliates, whether or not such employee is a full-time
employee or a temporary employee of Parent or its affiliates and whether or not such employment is pursuant to written agreement and whether or not such employment is for a determined period or is at will. A general advertisement for employment that
is not targeted at any employee of Parent or its affiliates shall not constitute a breach of the Advisor’s obligations under this Section 5(d). 

(e) Nondisparagement. The Advisor shall not at any time make any written or oral statements, representations, or other communications
that disparage the business or reputation of Parent or any of its affiliates, or any officer, director, employee, stockholder, agent, or representative of, or consultant to, Parent or any such affiliate, other than to the extent necessary to respond
in an appropriate and truthful manner to any legal process or give appropriate and truthful testimony in a legal or regulatory proceeding. Parent shall instruct its directors and executive officers (as such term is defined in Rule 3b-7 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) not to at any time make any written or oral statements, representations, or other
communications that disparage the business or reputation of the Advisor, other than to the extent necessary to respond in an appropriate and truthful manner to any legal process or give appropriate and truthful testimony in a legal or regulatory
proceeding. Nothing in this Section 5(e) is intended to (i) prevent either party from conferring in confidence with its legal representatives, or (ii) prevent either party from responding publicly to incorrect,
disparaging, or derogatory public statements to the extent reasonably necessary to correct or refute such statements. 
 (f) Remedies.
The Advisor agrees that the covenants contained in this Section 5 are of the essence of this Agreement; that each of the covenants is reasonable and necessary to protect the business, interests, and properties of Parent and
its affiliates; and that irreparable loss and damage will be suffered by Parent and its affiliates should the Advisor breach any of the covenants. Therefore, the Advisor agrees and consents that, in addition to all the remedies provided by law or in
equity, the Advisor shall be entitled to a temporary restraining order and temporary and permanent injunctions to prevent a breach or contemplated breach of any of the covenants. Parent and the Advisor agree that all remedies available to Parent or
the Advisor, as applicable, shall be cumulative. In addition, if the Advisor fails to comply with any of the covenants contained in this Section 5 and such failure shall not be cured to the reasonable satisfaction of Parent
within 30 days after receipt of written notice thereof from Parent, then Parent shall thereupon be relieved of liability for all obligations then remaining under Sections 1, 3(b), and 4(b). 

  
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 (g) Exceptions. The foregoing provisions of this Section 5
shall not prevent or limit the Advisor from complying with any applicable law or with the directive of any court or administrative body or agency having the legal authority to compel testimony from or the production of documents by the Advisor;
provided, however, that the Advisor shall, to the extent not prohibited by law, (i) promptly notify Parent of any such intended disclosure prior to such disclosure, (ii) at the written request of Parent, diligently contest
such disclosure at the expense of Parent, and (iii) at the written request of Parent, seek to obtain, at the expense of Parent, such confidential treatment as may be available under applicable laws for any information so disclosed.
Notwithstanding any provision of this Agreement to the contrary (including this Section 5), nothing contained herein is intended to, or shall be interpreted in a manner that does, limit or restrict the Advisor from
exercising any legally protected whistleblower rights (including pursuant to Rule 21F under the Exchange Act). 
 (h) Certain
Definitions. For purposes of this Agreement, the following terms have the meanings set forth below. 
 “Area” means the
geographic area within the boundaries of the Atlanta-Sandy Springs-Roswell, Georgia metropolitan statistical area (“MSA”), the Athens-Clarke County, Georgia MSA, the Gainesville, Georgia MSA, the Savannah, Georgia MSA, the Macon,
Georgia MSA, the Warner Robins, Georgia MSA, and the Augusta-Richmond County, Georgia MSA. 
 “Business” mean the business
conducted by Parent and its affiliates, which is the business of banking, including the solicitation of time and demand deposits and the making of residential, consumer, commercial and corporate loans. 

“Confidential Information” means data and information relating to the Business and its affiliates (which does not rise to the
status of a Trade Secret) that is or has been disclosed to the Advisor or of which the Advisor became aware as a consequence of or through the Advisor’s relationship to Parent or its affiliates and which has value to Parent or its affiliates
and is not generally known to its competitors. Without limiting the foregoing, Confidential Information shall include: (i) all items of information that could be classified as a trade secret pursuant to Georgia law; (ii) the names,
addresses, and banking requirements of the customers of Parent and its affiliates and the nature and amount of business done with such customers; (iii) the names and addresses of employees and other business contacts of Parent and its
affiliates; (iv) the particular names, methods, and procedures utilized by Parent and its affiliates in the conduct and advertising of its business; (v) application, operating system, communication, and other computer software and
derivatives thereof, including, without limitation, sources and object codes, flow charts, coding sheets, routines, subrouting, and related documentation and manuals of Parent and its affiliates; and (vi) marketing techniques, purchasing
information, pricing policies, loan policies, quoting procedures, financial information, customer data, and other materials or information relating to Parent and its affiliates’ manner of doing business. 

“Parent Information” means Confidential Information and Trade Secrets. 

  
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 “Trade Secrets” means information, without regard to form, including, but
not limited to, technical or nontechnical data, formulas, patterns, compilations, programs, devices, methods, techniques, drawings, processes, financial data, financial plans, product plans, or lists of actual or potential customers or suppliers
that (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and (ii) is the
subject of efforts that are reasonable under the circumstances to maintain its secrecy. 
 6. Certain Reduction of Payments. 

(a) Reduced Payments. Notwithstanding any other provision of this Agreement to the contrary, if the aggregate of the payments provided
for in this Agreement and the other payments and benefits that the Advisor has the right to receive from Parent, the Company, and their respective affiliates (the “Total Payments”) would constitute a “parachute payment,”
as defined in Section 280G(b)(2) of the Code, the Advisor shall receive the Total Payments unless the (i) after-tax amount that would be retained by the Advisor (after taking into account all
federal, state, and local income taxes payable by the Advisor and the amount of any excise taxes payable by the Advisor under Section 4999 of the Code that would be payable by the Advisor (the “Excise Taxes”)) if the Advisor
were to receive the Total Payments has a lesser aggregate value than (ii) the after-tax amount that would be retained by the Advisor (after taking into account all federal, state, and local income taxes
payable by the Advisor) if the Advisor were to receive the Total Payments reduced to the largest amount as would result in no portion of the Total Payments being subject to Excise Taxes (the “Reduced Payments”), in which case the
Advisor shall be entitled only to the Reduced Payments. If the Advisor is to receive the Reduced Payments, the reduction shall be made by reducing the Severance Payment. All reasonable fees and expenses of the Accounting Firm shall be borne solely
by Parent. 
 (b) Determinations. All determinations required to be made under this Section 6 and the
assumptions to be utilized in arriving at such determination (including, without limitation, any determination regarding reasonable compensation for pre- or post-change of control services and in respect of
the valuation of noncompetition provisions), shall be made by Golden Parachute Tax Solutions LLC (the “Accounting Firm”), which shall provide the full report of its determinations and any supporting calculations to Parent as soon as
reasonably practicable following the Effective Date. The Accounting Firm shall consult with any compensation consultants, accounting firm, and/or other legal counsel selected by the Advisor in determining which payments to, or for the benefit of,
the Advisor are to be deemed to be parachute payments. In connection with making determinations under this Section 6, the Accounting Firm shall take into account, to the extent applicable, the value of any reasonable
compensation for services to be rendered by the Advisor before or after the applicable change in ownership or control, including the noncompetition provisions applicable to the Advisor under Section 5 and any other
noncompetition provisions that may apply to the Advisor, and Parent and the Advisor shall cooperate in the valuation of any such services, including any noncompetition provisions. In addition, the Advisor shall take all action to mitigate the
application of the Excise Taxes as reasonably requested by Parent. 

  
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 7. Section 409A of the Code. 

(a) General. The intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from,
Section 409A of the Code and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered to be in compliance therewith. For purposes of Section 409A of the Code, the Advisor’s right to receive
any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. In no event may the Advisor, directly or indirectly, designate the calendar year of any payment to be made under
this Agreement that is considered nonqualified deferred compensation. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by
Section 409A of the Code, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for
reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any
other taxable year, provided that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to
the period the arrangement is in effect, and (iii) such payments shall be made on or before the last day of the Advisor’s taxable year following the taxable year in which the expense was incurred. 

(b) Specified Employee. Notwithstanding any other provision of this Agreement to the contrary, if the Advisor is considered a
“specified employee” for purposes of Section 409A of the Code (as determined in accordance with the methodology established by Parent as in effect on the Effective Date), (i) any payment or other benefit that constitutes
nonqualified deferred compensation within the meaning of Section 409A of the Code that is otherwise due to the Advisor under this Agreement during the six-month period following the Advisor’s
“separation from service” (as determined in accordance with Section 409A of the Code) on account of the Advisor’s separation from service shall be accumulated and paid to the Advisor on the first business day of the seventh month
following the Advisor’s separation from service (the “Delayed Payment Date”). If the Advisor dies during the postponement period, the amounts and entitlements delayed on account of Section 409A of the Code shall be paid to
the personal representative of the Advisor’s estate on the first to occur of the Delayed Payment Date or 30 days after the date of the Advisor’s death. 

8. Miscellaneous. 
 (a)
Status as a Nonemployee. Parent and the Advisor acknowledge and agree that, in performing services pursuant to this Agreement, the Advisor shall be acting and shall act at all times as an independent contractor only and not as an employee,
agent, partner, or joint venturer of or with Parent, the Company, or their respective affiliates and, subject to the Advisor’s compliance with Section 5, the Advisor’s services under
Section 3(a) shall be non-exclusive. The Advisor acknowledges that, except as set forth in Section 1(d), the Advisor is and shall be solely responsible for
the payment of all federal, state, local, and foreign taxes that are required by applicable laws or regulations to be paid with respect to compensation payable hereunder for the Advisor’s services rendered following the Effective Date. 

  
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 (b) Successors and Assigns. This Agreement shall be binding upon, inure to the
benefit of and be enforceable by, as applicable, Parent and the Advisor and their respective personal or legal representatives, executors, administrators, successors, assigns, heirs, distributees, and legatees. This Agreement is personal in nature
and the Advisor shall not, without the written consent of Parent, assign, transfer, or delegate this Agreement or any rights or obligations hereunder. Parent may not assign, transfer, or delegate this Agreement or any rights or obligations hereunder
without the written consent of the Advisor. 
 (c) Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of Georgia without giving effect to principles regarding the conflict of laws. 
 (d) Amendment; Entire
Agreement. No provision of this Agreement may be amended, modified, waived, or discharged unless such amendment, waiver, modification, or discharge is agreed to in writing and such writing is signed by the Advisor and Parent. From and after the
Effective Date, this Agreement shall supersede the Prior Agreement, and, except as specifically provided herein, the Advisor shall have no further rights under the Prior Agreement. 

(e) Notice. 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 Advisor: 

At the address most recently on the books and records of Parent. 

If to Parent: 
 Cadence
Bancorporation 
 2800 Post Oak Boulevard 

Suite 3800 
 Houston, Texas
77056 
 Attention: Samuel M. Tortorici 
 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. 

(f) Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, and this Agreement shall be construed as if such invalid or unenforceable provision were omitted (but only to the extent that such provision cannot be appropriately reformed or modified). 

(g) Headings. The headings of this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. 

  
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 (h) Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 (i) Survival. Upon the
expiration or other termination of this Agreement, the respective rights and obligations of the parties hereto shall survive such expiration or other termination to the extent necessary to carry out the intentions of the parties under this
Agreement. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	CADENCE BANCORPORATION
		
	By:	 	 /s/ Jerry W. Powell

		 	Name:   Jerry W. Powell
		 	Title:     Executive Vice President and
		 	              General Counsel
	
	 /s/ J. Thomas Wiley, Jr.

	J. Thomas Wiley, Jr.

  
 [Signature Page to
Services and Covenant Agreement]Confidential treatment has been granted with
respect to portions of this agreement as indicated by “[***]” and such confidential portions have been deleted and
filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

 

FIFTH AMENDMENT TO PLASMA PURCHASE
AGREEMENT

 

This Fifth Amendment to the Plasma
Purchase Agreement (this “Amendment #5”) by and between Grifols Worldwide Operations Limited,
a corporation having a place of business at Grange Castle Business Park, Grange Castle, Clondalkin, Dublin 22, Ireland (“Grifols”),
as the successor-in-interest to Biotest Pharmaceuticals Corporation, and ADMA Biologics, Inc., a Delaware corporation having
a place of business at 465 Route 17 South, Ramsey, New Jersey 07446 (“ADMA”), is effective as of January 1,
2019 (the “Effective Date”).

 

WHEREAS, BPC and ADMA are parties
to that certain Plasma Purchase Agreement, effective
as of November 17, 2011 (as amended, restated, supplemented or otherwise modified from time to time,, the “Agreement”),
pursuant to which ADMA purchases from BPC source plasma containing antibodies to respiratory syncytial virus (“RSV”
or “RSV Plasma”);

 

WHEREAS, on December 10, 2018, BPC
notified ADMA of the assignment of BPC’s rights and obligations under the Agreement pursuant to Section G to Grifols, its
affiliate, effective January 1, 2019; and

 

WHEREAS, BPC and ADMA are parties
to that certain Purchase Agreement, dated as of June 6, 2017, pursuant to which, on January 1, 2019, (i) ADMA will transfer ownership
of two of its plasma collection facilities located in Norcross, Georgia and Marietta, Georgia (the “Transferred Plasma
Collection Facilities”) to BPC, and (ii) ADMA and Grifols, as the successor-in-interest to BPC, have agreed to enter
into this Amendment #5 in order to memorialize the modification of certain provisions on the terms contained herein.

 

NOW, THEREFORE,
in consideration of the respective promises contained herein and other valuable consideration, the receipt and legal sufficiency
of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

 

Amendment: 

 

		1.	Section A.2.d. is hereby deleted and replaced in its entirety as follows:

 

“d.Pricing for RSV
Plasma for the period after March 31, 2013 will be based on the price previously in effect adjusted in proportion to the percentage
increase in the [***] Index, [***], U.S. City Average, All items, Base 1982-84 = 100, published by the United States Department
of Labor, Bureau of Labor Statistics (“[***]”) as of the December 31st of the previous calendar year. Notwithstanding
the foregoing, solely with respect to the Transferred Plasma Collection Facilities, for a three year period commencing on the Effective
Date (the “Purchase Period”), ADMA shall be entitled to purchase RSV Plasma from Grifols from the Transferred
Plasma Collection Facilities at a price equal to cost plus five percent (5%) (the “Purchase Period Price”).
During the Purchase Period, Grifols shall not charge ADMA an additional amount in excess of the Purchase Period Price as a result
of inflation during the Purchase Period.

 

    Page 1 of 2

     

    

 

Confidential treatment has been granted with
respect to portions of this agreement as indicated by “[***]” and such confidential portions have been deleted and
filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

 

		2.	Section I is hereby deleted in part as it relates to Grifols notices and replaced with the following:

 

	 	To Grifols:	Alfredo Arroyo
	 	 	Chief Financial Officer
	 	 	Grifols Worldwide Operations Limited
	 	 	Grange Castle Business Park, Grange Castle
	 	 	Clondalkin, Dublin 22, Ireland 

  

		3.	Exhibit A, as referenced in Section A(4) of the Agreement, is hereby deleted and replaced
in its entirety with a revised Exhibit A, attached hereto.

 

		4.	All references in the Agreement to “BPC” and “Biotest Pharmaceuticals Corporation”
shall hereby be amended to refer to “Grifols” and “Grifols Worldwide Operations Limited”, as successor-in-interest
to BPC.

 

Miscellaneous:

 

Except as expressly provided herein, all
terms and conditions set forth in the Agreement remain unchanged and continue in full force and effect. This Amendment #5 shall
govern in the event of any conflict between this Amendment #5 and the Agreement. It is agreed by the parties that all references
to the Agreement hereafter made by them in any document or instrument delivered pursuant to or in connection with the Agreement
shall be deemed to refer to the Agreement as amended hereby.

 

This Amendment #5 and the Agreement embody
the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersede all prior
agreements and understandings relating to the subject matter hereof.

 

This Amendment #5 may be executed in any
number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same single
document, and any such counterpart containing an electronically scanned or facsimile signature will have the same effect as original
manual signatures.

 

The parties agree that they and their employees
shall execute all documents and do all other things necessary to carry out the intent to implement the provisions of this Amendment
#5.

 

IN WITNESS WHEREOF, the parties
hereby have caused this Amendment #5 to be executed and the persons signing below warrant that they are duly authorized to sign
for and on behalf of their respective parties.

 

	ADMA Biologics, Inc.	 	Grifols Worldwide Operations Limited 
	 	 	 
	By: /s/ Adam Grossman	 	By: /s/ Alfredo Arroyo
	                       	 	 
	Name: Adam Grossman	 	Name: Alfredo Arroyo       
	 	 	 
	Title: President & Chief Executive Officer	 	Title: Chief Financial Officer

 

    Page 2 of 2

     

    

 

Confidential treatment has been granted with
respect to portions of this agreement as indicated by “[***]” and such confidential portions have been deleted and
filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

 

Exhibit A

 

Biotest Plasma Center # 085

233 West Hancock Avenue, Athens, Georgia 30601

PH:  706-354-3898 FX:  706-354-3235

 

Biotest Plasma Center # 038

2704 Peach Orchard Road, Augusta, Georgia 30906

PH:  706-798-3061 FX:  706-798-4534

 

Biotest Plasma Center #093

718 22nd Avenue So Brookings, SD 57006

PH: 605-691-6214 FX: 605-696-3850

 

Biotest Plasma Center
#675

500 Old Greenville Hwy.,
Suite 500-2, Clemson, SC 29631

PH: 864-633-5023 FX: 864-653-8387

 

Biotest Plasma Center
#091

2235 Dave Ward Drive,
#205 Conway, AR 72034

PH: 501-499-8698 FX: 501-450-6460

 

Biotest Plasma Center # 009

Park Center

1027 Commerce Blvd., Dickson City, Pennsylvania
18519

PH:  570-383-5341 FX:  570-383-5346

 

Biotest Plasma Center # 001

Colonial Center

4391 Colonial Boulevard, Fort Myers, Florida 33966

PH:  239-332-0500 FX:  239-332-0533

 

Biotest Plasma Center # 004

1112 North Main Street, Gainesville, Florida 32601

PH:  352-378-9431 FX:  352-376-6076

 

Biotest Plasma Center # 080 

6837 Taft Street Hollywood, FL 33024

PH: 954-987-6240 FX: 954-987-4517

 

Biotest Plasma Center # 008

408 S. Gilbert Street, Iowa City, Iowa 52240

PH:  319-341-8000 FX:  319-341-8008

 

Biotest Plasma Center # 028

1213 Country Club Road, Jacksonville, North Carolina
28546

PH:  910-353-4888 FX:  910-353-2006

 

Biotest Plasma Center
#090 

113 Yopp Road, Jacksonville,
NC 28540

PH: 910-463-2603 FX: 910-219-7778

 

     

     

    

 

Confidential treatment has been granted with
respect to portions of this agreement as indicated by “[***]” and such confidential portions have been deleted and
filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

 

Biotest Plasma Center
#094

5915 1st Avenue,
Kearney, NE 68847

PH: 308-624-2634
FX: 308-224-2280

 

Biotest Plasma Center # 033

300 S. 17th Street, Lincoln, Nebraska 68508

PH:  402-474-2335 FX:  402-474-5983

 

Biotest Plasma Center # 089

3110 Lake Washington Rd., Melbourne, Florida 32934

PH:  321-255-7466 FX:  321-255-7469

 

Biotest Plasma Center # 086

2501 Discovery Dr. Suite 400, Orlando, Florida
32826

PH:  407-207-1932 FX:  407-277-2468

 

Biotest Plasma Center # 087

100 Business Park Way, Royal Palm Beach, Florida
33411

PH:  561-791-9122 FX:  561-791-9750

 

Biotest Plasma Center # 601

618 NW Loop 410, Suite #101, San Antonio, Texas
78216

PH:  210-224-1749 FX:  210-224-4337

 

Biotest Plasma Center # 036

2860 Cerrillos Road Suite. B1, Santa Fe, New Mexico
87507-2326

PH:  505-424-6250 FX:  505-424-6260

 

Biotest Plasma Center # 088

311 N Patterson Street, Valdosta, Georgia 31601

PH:  229-331-8558 FX:  229-253-0326

 

Biotest Plasma Center
#676

1012 Princeton Street,
Vermillion, SD 57069

PH: 605-277-1434 FX: 605-658-0207

 

Biotest Plasma Center # 045

6000 Mahoning Avenue, #410, Youngstown, Ohio 44515

PH:  330-743-1317 FX:  330-743-7310

 

Biotest Plasma Center #101 (formerly ADMA Bio Centers Georgia
Inc.)*

6290 Jimmy Carter Boulevard, Suites 206-208 and 210, Norcross,
Georgia 30071

PH: 678-495-5800 FX: 678-495-5818

 

Biotest Plasma Center #102 (formerly ADMA Bio Centers Georgia
Inc.)*

3000 Windy Hill Road SE, Suites 212 and 220, Marietta,
Georgia 30067

PH: 678-504-7333 FX: 678-483-5428

 

 

* Not a BPC center by license as of the Effective Date.

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