Document:

Rights Agreement Amend. #1

 EXHIBIT 4.1 
  

AMENDMENT NO. 1 TO THE RIGHTS AGREEMENT 
  
 This Amendment No. 1 to the Rights Agreement, dated as of March 27, 2005 (this “Amendment”), between SunGard Data Systems Inc. (the
“Company”) and Wells Fargo Bank, N.A., as rights agent (the “Rights Agent”). Capitalized terms used herein and not otherwise defined have the meanings ascribed to such terms in the Rights Agreement (as defined
below). 
  
 WHEREAS, the Company and the Rights Agent entered into
the Rights Agreement, dated as of July 18, 2000 (the “Rights Agreement”), setting forth the terms of the Rights (as defined therein); 
  
 WHEREAS, the Company and the Rights Agent may, from time to time, supplement or amend the Rights Agreement pursuant to the provisions of Section 27 of the
Rights Agreement; and 
  
 WHEREAS, the Board of Directors of the
Company (the “Board of Directors”), on March 27, 2005, resolved that the Agreement and Plan of Merger, dated as of March 27, 2005, between Solar Capital Corp. and the Company (the “Merger Agreement”), and the Merger
(as defined in the Merger Agreement), are fair to and in the best interests of the Company and its stockholders. 
  
 NOW THEREFORE, in consideration of the premises and mutual agreements contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Rights Agent hereby agree as follows: 
  
 SECTION 1. Amendment to Rights Agreement. The Rights Agreement is hereby amended as follows: 
  
 (a) The definition of “Acquiring Person” in Section 1(a) is
amended by inserting the following as a new paragraph at the end of such definition: 
  
 “Notwithstanding anything in this Section 1(a) to the contrary, none of Solar Capital Corp., a Delaware corporation (“Merger Co”), or any of its Affiliates, Associates or stockholders, or the
general partners, limited partners or members of such stockholders (the “Exempted Persons”), either individually, collectively or in any combination, shall be or be deemed to be an “Acquiring Person” solely by virtue of or
as a result of (i) any agreements, arrangements or understandings among all or any of the Exempted Persons in connection with the Merger Agreement or the Merger, (ii) the execution and delivery of the Merger Agreement or (iii) the acquisition of any
Shares pursuant to the Merger Agreement or the consummation of the Merger (the transactions described in clauses (i), (ii) and (iii), the “Exempted Transactions”). 
  
 (b) Section 1 is amended by inserting the following subsections at the end of such Section 1: 
  
 “(r) “Merger” shall have the meaning set forth in the Merger
Agreement.” 

 “(s) “Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of March 27,
2005, between Merger Co and the Company.” 
  
 “(t)
“Shares” shall have the meaning set forth in the Merger Agreement.” 
  
 (c) The definition of “Beneficial Owner” in Section 1(c) is amended by inserting the following sentence at the end of such definition: 
  
 “Notwithstanding anything in this Section 1(c) to the contrary, none of the Exempted Persons, either individually,
collectively or in any combination, shall be deemed to be a “Beneficial Owner” of or to “beneficially own” any securities beneficially owned, directly or indirectly, by any other Exempted Person solely by virtue of or as a result
of any Exempted Transaction.” 
  
 (d) The definition of
“Shares Acquisition Date” in Section 1(n) is amended by inserting the following sentence at the end of such definition: 
  
 “Notwithstanding anything in this Section 1(n) to the contrary, a “Shares Acquisition Date” shall not be deemed to have occurred solely by
virtue of or as a result of the public announcement of any Exempted Transaction.” 
  
 (e) Section 3(a) is amended by inserting the following sentence at the end of such Section 3(a): 
  
 “Notwithstanding anything in this Agreement to the contrary, a “Distribution Date” shall not be deemed to have occurred solely by virtue of
or as a result of any Exempted Transaction.” 
  
 (f) Section
7(a) is hereby amended to read in its entirety as follows: 
  
 “(a) The registered holder of any Right Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein) in whole or in part at any time after the Distribution Date upon surrender of the Right Certificate,
with the form of election to purchase on the reverse side thereof duly executed, to the Rights Agent at the office of the Rights Agent designated for such purpose, together with payment of the Purchase Price for each one one-hundredth of a Preferred
Share (or such other number of shares or other securities) as to which the Rights are exercised, at or prior to the earliest of (i) the Close of Business on July 20, 2010 (the “Final Expiration Date”), (ii) the time at which the
Rights are redeemed as provided in Section 23 hereof (the “Redemption Date”), (iii) the time at which such Rights are exchanged as provided in Section 24 hereof or (iv) immediately prior to the Effective Time (as defined in the
Merger Agreement), but only if the Effective Time shall occur.” 
  

 2 

 (g) Section 25(a) is amended by inserting the following sentence at the end of such Section 25(a):

  
 “Notwithstanding anything in this Agreement to the
contrary, the Company shall not be required to give any such notice in connection with any Exempted Transaction.” 
  
 (h) A new Section 35 is added to read in its entirety as follows: 
  
 “SECTION 35. Termination. Immediately prior to the Effective Time, but only if the Effective Time shall occur,
(a) this Agreement shall be terminated and be without any further force or effect, (b) none of the parties to this Agreement will have any rights, obligations or liabilities hereunder and (c) the holders of the Rights shall not be entitled to any
benefits, rights or other interests under this Agreement, including, without limitation, the right to purchase or otherwise acquire Preferred Shares or any other securities of the Company or of any other Person. Notwithstanding the foregoing,
Section 18 hereof shall survive the termination of this Agreement.” 
  
 SECTION 2. Full Force and Effect. As herein modified, the Rights Agreement shall remain in full force and effect and is hereby ratified and confirmed. In executing and delivering this Amendment, the Rights
Agent shall be entitled to all of the privileges and immunities afforded to the Rights Agent under the terms and conditions of the Rights Agreement. 
  
 SECTION 3. Counterparts. This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be
deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be as effective as delivery of a manually
executed counterpart of this Amendment. 
  
 SECTION 3.
Governing Law. This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made
and to be performed entirely within such State. 
  

 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to the Rights Agreement to be
duly executed as of the date first written above. 
  

							
	ATTEST:	 	SUNGARD DATA SYSTEMS INC.
				
	By	 	 /s/ Leslie S. Brush

	 	By	 	 /s/ Michael J. Ruane

	Name:	 	Leslie S. Brush	 	Name:	 	Michael J. Ruane
	Title:	 	 Vice President-Legal and
 Chief Governance
Officer
	 	Title:	 	 Senior Vice President-Finance and
 Chief Financial
Officer

		
	ATTEST:	 	WELLS FARGO BANK, N.A.
				
	By	 	 /s/ Darren Larson

	 	By	 	 /s/ John D. Baker

	Name:	 	Darren Larson	 	Name:	 	John D. Baker
	Title:	 	Vice President	 	Title:	 	Vice President

  

 4 

 CERTIFICATION OF COMPLIANCE WITH SECTION 27 OF RIGHTS AGREEMENT 
  
 The undersigned officer of SunGard Data Systems Inc. (the
“Company”), being an appropriate officer of the Company and authorized to do so by resolution of the Board of Directors of the Company, dated March 27, 2005, hereby certifies to Wells Fargo Bank, N.A., as rights agent, that the
Amendment No. 1 to the Rights Agreement is in compliance with the terms of Section 27 of such agreement. 
  

			
	SUNGARD DATA SYSTEMS INC.
		
	By	 	 /s/ Michael J. Ruane

	Name:	 	Michael J. Ruane
	Title:	 	 Senior Vice President-Finance and
 Chief Financial
Officer

  
 Acknowledged and
Agreed: 
  

					
	 	 	WELLS FARGO BANK, N.A.
			
	 	 	By	 	 /s/ John D. Baker

	 	 	Name:	 	John D. Baker
	 	 	Title:	 	Vice PresidentNon-Employee Directors' Annual Compensation

 EXHIBIT 10.5 
  
 Pinnacle Bankshares Corporation 
 Non-Employee Directors’ Annual Compensation 
 As of December 31, 2004 
  

				
	 Annual Retainer

	  	Amount

	 Service as Director for the Company
	  	$	1,500
	 Service as Director for the Bank
	  	$	4,000
		
	 Meeting Fees

	  	 
	 Committee Meetings for the Company
	  	$	250 per meeting
	 Committee Meetings for the Bank
	  	$	250 per meetingBase Salaries of Named Executive Officers of the Registrant

 EXHIBIT 10.6 
  
 Pinnacle Bankshares Corporation 
 Base Salaries of Named Executive Officers of the Registrant 
  
 As of March 25, 2005, the following are the base salaries (on an annual basis) of the named executive officers of Pinnacle Bankshares Corporation: 
  

				
	 Robert H. Gilliam Jr.
	  	$	156,800
	 President and Chief Executive Officer
	  	 	 
		
	 Carroll E. Shelton
	  	$	94,050
	 Senior Vice President
	  	 	 
		
	 Bryan M. Lemley
	  	$	65,520
	 Secretary, Treasurer and Chief Financial OfficerSalary Continuation Agreement

 EXHIBIT NO. 10.15 
  
 MCINTOSH STATE BANK 
 SALARY CONTINUATION AGREEMENT 
  
 THIS AGREEMENT is made this 10th day of August, 2004, by and between MCINTOSH STATE BANK, a state bank located in Jackson, Georgia (the “Company”) and Thurman L. Willis (the “Executive”). 
  
 INTRODUCTION 
  
 To encourage the Executive to remain an employee of the Company, the Company
is willing to provide salary continuation benefits to the Executive. The Company will pay the benefits from its general assets. 
  
 AGREEMENT 
  
 The Executive and the Company agree as follows: 
  
 Article 1 
 Definitions

  
 1.1 Definitions. Whenever used in this Agreement,
the following words and phrases shall have the meanings specified: 
  
 1.1.1 “Change of Control” means the transfer of 51% or more of the Company’s outstanding voting common stock. 
  
 1.1.2 “Code” means the Internal Revenue Code of 1986, as amended. 
  
 1.1.3 “Disability” means the
Executive’s suffering a sickness, accident or injury which has been determined by the carrier of any individual or group disability insurance policy covering the Executive, or by the Social Security Administration, to be a disability rendering
the Executive totally and permanently disabled. The Executive must submit proof to the Company of the carrier’s or Social Security Administration’s determination upon the request of the Company. 
  
 1.1.4 “Early Termination” means the
Termination of Employment before Normal Retirement Age for reasons other than death, Disability, Termination for Cause or following a Change of Control. 
  

 1.1.5 “Early Termination Date” means the month, day and year in which
Early Termination occurs. 
  
 1.1.6
“Effective Date” means May 1, 2004. 
  
 1.1.7 “Normal Retirement Age” means the Executive’s age 60. 
  
 1.1.8 “Normal Retirement Date” means the later of the Normal Retirement Age or Termination of Employment. 
  
 1.1.9 “Plan Year” means a twelve-month
period commencing on May 1 and ending on April 30 of each year. The initial Plan Year shall commence on the Effective Date. 
  
 1.1.10 “Termination for Cause” See Section 5.2. 
  
 1.1.11 “Termination of Employment” means that the Executive ceases to be employed by the
Company for any reason whatsoever other than by reason of a leave of absence which is approved by the Company. For purposes of this Agreement, if there is a dispute over the employment status of the Executive or the date of the Executive’s
Termination of Employment, the Company shall have the sole and absolute right to decide the dispute. 
  
 Article 2 
 Lifetime Benefits 
  
 2.1 Normal Retirement Benefit. Upon Termination of Employment on or
after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Article. 
  
 2.1.1 Amount of Benefit. The initial annual benefit
under this Section 2.1 is Twenty Thousand Five Hundred Fifteen Dollars ($20,515). Commencing at the end of the first Plan Year, and each Plan Year thereafter, the annual benefit shall be increased four percent (4%) from the previous Plan Year to a
projected annual benefit of Twenty-Four Thousand Dollars ($24,000) at Normal Retirement Age. The Company’s Board of Directors, in its sole discretion, may increase the annual benefit under this Section 2.1.1; however, any increase shall require
the recalculation of Schedule A. 
  
 2.1.2
Payment of Benefit. The Company shall pay the annual benefit to the Executive in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Executive’s Normal Retirement Date and
continuing for one hundred seventy-nine (179) additional months. 
  
 2.1.3 Benefit Increases. Commencing on the first anniversary of the first benefit payment, and continuing on each subsequent anniversary, the Company’s Board of Directors, in its sole discretion, may
increase the benefit. 

 2.2 Early Termination Benefit. Upon Early Termination, the Company shall pay to the
Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Agreement. 
  
 2.2.1 Amount of Benefit. The benefit under this Section 2.2 is the Early Termination Annual Benefit amount set forth in Schedule A
for the Plan Year ending immediately prior to the Early Termination Date. 
  
 2.2.2 Payment of Benefit. The Company shall pay the annual benefit to the Executive in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following
the Normal Retirement Age and continuing for one hundred seventy-nine (179) additional months. The company, in its sole discretion, may pay the benefit in a lump sum within sixty (60) days of Termination of Employment, in an amount equal to the
Vested Accrual Balance in Schedule A. 
  
 2.2.3 Benefit Increases. Benefit payments may be increased as provided in Section 2.1.3. 
  
 2.3 Disability Benefit. If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to
the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement. 
  
 2.3.1 Amount of Benefit. The benefit under this Section 2.3 is the Disability Annual Benefit amount set forth in Schedule A for the
Plan Year ending immediately prior to the date in which the Termination of Employment occurs. 
  
 2.3.2 Payment of Benefit. The Company shall pay the annual benefit amount to the Executive in twelve (12) equal monthly
installments payable on the first day of each month commencing with the month following the Termination of Employment and continuing for one hundred seventy-nine (179) additional months. The Company, in its sole discretion, may pay the benefit in a
lump sum within sixty (60) days of Termination of Employment, in an amount equal to the Accrual Balance in Schedule A. 
  
 2.3.3 Benefit Increases. Benefit payments may be increased as provided in Section 2.1.3. 
  
 2.4 Change of Control Benefit. Upon Termination of Employment
following a Change of Control, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Agreement. 
  
 2.4.1 Amount of Benefit. The annual benefit under this Section 2.4 is the Change of Control Benefit
amount set forth in Schedule A. 

 2.4.2 Payment of Benefit. The Company shall pay the annual benefit amount to the
Executive in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Normal Retirement Date and continuing for one hundred seventy-nine (179) additional months. 
  
 2.4.3 Benefit Increases. Benefit payments may be
increased as provided in Section 2.1.3. 
  
 Article 3

 Death Benefits 
  
 3.1 Death During Active Service. If the Executive dies while in the active service of the Company, the Company shall pay to the Executive’s
beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu of the Lifetime Benefits of Article 2. 
  
 3.1.1 Amount of Benefit. The annual benefit under this Section 3.1 is the projected Normal Retirement Benefit amount described in
Section 2.1.1. 
  
 3.1.2 Payment of Benefit.
The Company shall pay the annual benefit to the beneficiary in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Executive’s death and continuing for one hundred
seventy-nine (179) additional months. 
  
 3.2 Death During
Benefit Period. If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive’s beneficiary at the same time and in
the same amounts they would have been paid to the Executive had the Executive survived. 
  
 3.3 Death After Termination of Employment But Before Benefit Payments Commence. If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit
payments, the Company shall pay the benefit payments to the Executive’s beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the
Executive’s death. 
  
 Article 4 
 Beneficiaries

  
 4.1 Beneficiary Designation. The Executive shall
have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary
designation under any other benefit plan of the Company in which the Executive participates. 
  
 4.2 Beneficiary Designation: Change. The Executive shall designate a Beneficiary by 

 
completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Executive’s
Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive shall have the right to change a
Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a
new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Executive and accepted by the Plan
Administrator prior to the Executive’s death. 
  
 4.3
Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or its designated agent. 
  
 4.4 No Beneficiary Designation. If the Executive dies without a valid
beneficiary designation, or if all designated Beneficiaries predecease the Executive, then the Executive’s spouse shall be the designated Beneficiary. If the Executive has no surviving spouse, the benefits shall be made to the personal
representative of the Executive’s estate. 
  
 4.5 Facility
of Payment. If the Plan Administrator determines in its discretion that a benefit is to be paid to a minor, to a person declared incompetent, or to a person incapable of handling the disposition of that person’s property, the Plan
Administrator may direct payment of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or
guardianship as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Executive and the Executive’s Beneficiary, as the case may be, and shall be a complete discharge of
any liability under the Agreement for such payment amount. 
  
 Article 5 
 General Limitations 
  
 Notwithstanding any provision of this Agreement to the contrary, the Company shall not pay any benefit under this Agreement:

  
 5.1 Excess Parachute Payment. To the extent the benefit
would create an excise tax under the excess parachute rules of Section 280G of the Code. 
  
 5.2 Termination for Cause. If the Company terminates the Executive’s employment for: 
  
 5.2.1 Gross negligence or gross neglect of duties; 
  
 5.2.2 Commission of a felony or of a gross misdemeanor involving moral turpitude; or 

 5.2.3 Fraud, disloyalty, dishonesty or willful violation of any law or significant
Company policy committed in connection with the Executive’s employment and resulting in an adverse effect on the Company. 
  
 5.3 Competition After Termination of Employment. No benefits shall be payable if the Executive, without the prior written consent of the Company,
engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal,
agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius) of the business of the Company, which enterprise is, or may deemed to be, competitive with any business carried on by the Company as
of the date of termination of the Executive’s employment or his retirement. This section shall not apply following a Change of Control. 
  
 5.4 Suicide or Misstatement. No benefits shall be payable if the Executive commits suicide within two years after the date of this Agreement, or if
the Executive has made any material misstatement of fact on any application for life insurance purchased by the Company. 
  
 Article 6 
 Claims and Review
Procedures 
  
 6.1 Claims Procedure. Any individual
(“claimant”) who has not received benefits under the Agreement that he or she believes should be paid shall make a claim for such benefits as follows: 
  
 6.1.1 Initiation - Written Claim. The claimant initiates a claim by submitting to the Company a
written claim for the benefits, 
  
 6.1.2
Timing of Company Response. The Company shall respond to such claimant within 90 days after receiving the claim. If the Company determines that special circumstances require additional time for processing the claim, the Company can extend the
response period by an additional 90 days by notifying the claimant in writing, prior to the end of the initial 90-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by
which the Company expects to render its decision. 
  
 6.1.3 Notice of Decision. If the Company denies part or all of the claim, the Company shall notify the claimant in writing of such denial. The Company shall write the notification in a manner calculated to be understood by the
claimant. The notification shall set forth: 
  
 (a) The specific reasons for the denial; 
  
 (b) A reference to the specific provisions of this Agreement on which the denial is based; 

 (c) A description of any additional information or material necessary for the claimant to
perfect the claim and an explanation of why it is needed; 
  
 (d) An explanation of this Agreement’s review procedures and the time limits applicable to such procedures; and 
  
 (e) A statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination
on review. 
  
 6.2 Review Procedure. If the Company denies
part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Company of the denial, as follows: 
  
 6.2.1 Initiation - Written Request. To initiate the review, the claimant, within 60 days after receiving the Company’s notice
of denial, must file with the Company a written request for review. 
  
 6.2.2 Additional Submissions - Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating to the claim. The Company
shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits.

  
 6.2.3 Considerations on Review. In
considering the review, the Company shall take into account all materials and information the claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

  
 6.2.4 Timing of Company Response. The
Company shall respond in writing to such claimant within 60 days after receiving the request for review. If the Company determines that special circumstances require additional time for processing the claim, the Company can extend the response
period by an additional 60 days by notifying the claimant in writing, prior to the end of the initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the
Company expects to render its decision. 
  
 6.2.5
Notice of Decision. The Company shall notify the claimant in writing of its decision on review. The Company shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
  
 (a) The specific reasons for the denial; 
  
 (b) A reference to the specific provisions of this Agreement
on which the denial is based; 
  
 (c) A statement
that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for
benefits; and 

 (d) A statement of the claimant’s right to bring a civil action under ERISA Section
502(a). 
  
 Article 7 
 Amendments and Termination 
  
 This Agreement may be amended or terminated only by a written agreement signed by the Company and the Executive. 
  
 Article 8 
 Miscellaneous 
  
 8.1 Binding Effect. This Agreement shall bind the Executive and the Company, and their beneficiaries, survivors, executors, successors, administrators and transferees. 
  
 8.2 No Guarantee of Employment. This Agreement is not an employment
policy or contract. It does not give the Executive the right to remain an employee of the Company, nor does it interfere with the Company’s right to discharge the Executive. It also does not require the Executive to remain an employee nor
interfere with the Executive’s right to terminate employment at any time. 
  
 8.3 Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner. 
  
 8.4 Reorganization. The Company shall not merge or consolidate into or with another company, or reorganize, or sell
substantially all of its assets to another company, firm, or person unless such succeeding or continuing company, firm, or person agrees to assume and discharge the obligations of the Company under this Agreement. Upon the occurrence of such event,
the term “Company” as used in this Agreement shall be deemed to refer to the successor or survivor company. 
  
 8.5 Tax Withholding. The Company shall withhold any taxes that are required to be withheld from the benefits provided under this Agreement.

  
 8.6 Applicable Law. The Agreement and all rights
hereunder shall be governed by the laws of the State of Georgia, except to the extent preempted by the laws of the United States of America. 
  
 8.7 Unfunded Arrangement. The Executive and beneficiary are general unsecured creditors of the Company for the payment of benefits under this
Agreement. The benefits represent the mere promise by the Company to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, 

 
encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive’s life is a general asset of the Company to which the Executive and
beneficiary have no preferred or secured claim. 
  
 8.8 Entire
Agreement. This Agreement constitutes the entire agreement between the Company and the Executive as to the subject matter hereof. No rights are granted to the Executive by virtue of this Agreement other than those specifically set forth herein.

  
 8.9 Powers which are necessary to administer this Agreement,
including but not limited to: 
  
 8.9.1
Interpreting the provisions of the Agreement; 
  
 8.9.2 Establishing and revising the method of accounting for the Agreement 
  
 8.9.3 Maintaining a record of benefit payments; and 
  
 8.9.4 Establishing rules and prescribing any forms necessary or desirable to administer the Agreement.

  
 8.10 Named Fiduciary. For purposes of the Employee
Retirement Income Security Act of 1974, if applicable, the Company shall be the named fiduciary and plan administrator under the Agreement. The named fiduciary may delegate to others certain aspects of the management and operation responsibilities
of the plan including the employment of advisors and the delegation of ministerial duties to qualified individuals. 
  
 IN WITNESS WHEREOF, the Executive and a duly authorized Company officer have signed this Agreement. 
  

									
	 EXECUTIVE:
	 	 	 	 COMPANY:

			
	 	 	 	 	 MCINTOSH STATE BANK

				
	/s/ Thurman L. Willis	 	 	 	By:	 	 /s/ William K. Malone

	 Thurman Willis
	 	 	 	 Title:
	 	 Chief Executive Officer

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