Document:

<PAGE>   1

                 CITIZENS BANCSHARES OF SOUTHWEST FLORIDA, INC.

                                 EXHIBIT 10.3.1

<PAGE>   2
                       AMENDMENT TO EMPLOYMENT AGREEMENT

         THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment"), dated as of
the 24th day of August, 1999, is entered into by and among CITIZENS BANCSHARES
OF SOUTHWEST FLORIDA, INC., a Florida corporation (the "Company"), CITIZENS
NATIONAL BANK OF SOUTHWEST FLORIDA, a national banking association (the "Bank")
(the Company and the Bank are collectively referred to herein as the
"Employer") and POLLY M. ROGERS ("Executive").

                             W I T N E S S E T H :

         WHEREAS, the Employer and Executive have entered into an Employment
Agreement dated as of April 28, 1999 (the "Employment Agreement");

         WHEREAS, Executive is entitled under the terms of the Employment
Agreement to be issued certain options as of April 28, 1999 to purchase shares
of the common stock of the Company;

         WHEREAS, as of the date of this Amendment, Executive has not been
         issued any stock options by the Company;

         WHEREAS, Executive desires to waive any right to be issued stock
options as of April 28, 1999 in consideration of the grant of incentive stock
options by the Company to Executive pursuant to the Company's 1999 Stock Option
Plan; and

         WHEREAS, the Board of Directors of the Company deems it to be in the
best interest of the Company to grant to Executive certain stock options
pursuant to the Company's 1999 Stock Option Plan.

         NOW, THEREFORE, for and in consideration of the mutual premises and
covenants herein contained and other good and valuable consideration, the
parties hereto agree that the Employment Agreement is hereby amended by
deleting Part C of Exhibit A in its entirety, and inserting the following in
lieu thereof:

                C. STOCK OPTIONS. The Company shall grant to Executive, pursuant
to the Company's 1999 Stock Option Plan (the "Plan"), incentive stock options to
purchase Twenty Thousand (20,000) shares of the common stock of the Company at
an exercise price equal to the fair market value of such shares on the date of
grant. Unless sooner vested as a result of other terms of this or any other
Agreement, twenty percent (20%) of these options shall vest on December 31,
1999, and twenty percent (20%) shall vest on the 31st day of December on each of
the successive four years. Unless these options expire earlier pursuant to the
terms of this Agreement, these options shall expire at the end of the ten-year
period commencing on the date on which the options are granted. The provisions
of this paragraph shall in no way limit the availability of additional options
to executive.

         All other provisions of the Employment Agreement shall remain in full
force and effect as originally written.

<PAGE>   3

         IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.

"EXECUTIVE"                           "COMPANY"

                                      CITIZENS BANCSHARES OF
                                      SOUTHWEST FLORIDA, INC.

 /s/ Polly M. Rogers    (L.S)         By: /s/ Michael L. McMullan
------------------------                 --------------------------------
POLLY M. ROGERS                          Michael L. McMullan
                                         Chief Executive Officer

                                      "BANK"

                                      CITIZENS NATIONAL BANK OF
                                      SOUTHWEST FLORIDA

                                      By:  /s/ Michael L. McMullan
                                          --------------------------------
                                          Michael L. McMullan
                                          Chief Executive Officer<PAGE>   1

                 CITIZENS BANCSHARES OF SOUTHWEST FLORIDA, INC.

                                  EXHIBIT 10.4

<PAGE>   2
                 CITIZENS BANCSHARES OF SOUTHWEST FLORIDA, INC.
                             1999 STOCK OPTION PLAN
                        EFFECTIVE AS OF AUGUST 24, 1999

                                   1. PURPOSE

        The primary purpose of the Citizens Bancshares of Southwest Florida,
Inc. 1999 Stock Option Plan (the "Plan") is to encourage and enable eligible
directors, officers, key employees and certain consultants and advisors of
Citizens Bancshares of Southwest Florida, Inc. (the "Company") and its
subsidiaries to acquire proprietary interests in the Company through the
ownership of Common Stock of the Company. The Company believes that directors,
officers and key employees who participate in the Plan will have a closer
identification with the Company by virtue of their ability as shareholders to
participate in the Company's growth and earnings. The Plan also is designed to
provide motivation for participating directors, officers and key employees to
remain in the employ of and to give greater effort on behalf of the Company. It
is the intention of the Company that the Plan provide for the award of
"incentive stock options" qualified under Section 422 of the Internal Revenue
Code of 1986, as amended (the "Code") and the regulations promulgated
thereunder, as well as the award of non-qualified stock options. Accordingly,
the provisions of the Plan related to incentive stock options shall be
construed so as to extend and limit participation in a manner consistent with
the requirements of Section 422 of the Code.

                                 2. DEFINITIONS

        The following words or terms shall have the following meanings:

        (a) "Agreement" shall mean a stock option agreement between the Company
and an Eligible Employee or Eligible Participant pursuant to the terms of this
Plan.

        (b) "Board of Directors" shall mean the Board of Directors of the
Company.

        (c) "Committee" shall mean the committee appointed by the Board of
Directors to administer the Plan, if any, as set forth in Section 5 of the
Plan.

        (d) "Company" shall mean Citizens Bancshares of Southwest Florida,
Inc., a Florida corporation.

        (e) "Eligible Employee(s)" shall mean key employees regularly employed
by the Company or a Subsidiary (including officers, whether or not they are
directors) as the Board of Directors or the Committee shall select from time to
time.

<PAGE>   3

        (f) "Eligible Participant(s)" shall mean directors, officers, key
employees of the Company and its Subsidiaries, consultants, advisors and other
persons who may not otherwise be eligible to receive Qualified Incentive
Options pursuant to Section 8 of the Plan.

        (g) "Market Price" shall mean the closing price of the Company's Common
Stock on the date in question, as quoted by the Nasdaq National Market or the
Nasdaq SmallCap Market (or other nationally recognized quotation service). If
the Company's Common Stock is not traded on the Nasdaq Stock Market but is
registered on a national securities exchange, "Market Price" shall mean the
closing sales price of the Company's Common Stock on such national securities
exchange. If the Company's shares of Common Stock are not traded on a national
securities exchange or through any other nationally recognized quotation
service, then "Market Price" shall mean the fair market value of the Company's
Common Stock as determined by the Board of Directors or the Committee, acting
in good faith, under any method consistent with the Code, or Treasury
Regulations thereunder, as the Board of Directors or the Committee shall in its
discretion select and apply at the time of the grant of the option concerned.
Subject to the foregoing, the Board of Directors or the Committee, in fixing
the market price, shall have full authority and discretion and be fully
protected in doing so.

        (h) "Optionee" shall mean an Eligible Employee or Eligible Participant
having a right to purchase Common Stock under an Agreement.

        (i) "Option(s)" shall mean the right or rights granted to Eligible
Employees or Eligible Participants to purchase Common Stock under the Plan.

        (j) "Plan" shall mean this Citizens Bancshares of Southwest Florida,
         Inc. 1999 Stock Option Plan.

        (k) "Shares," "Stock," or "Common Stock" shall mean shares of the $.01
par value common stock of the Company.

        (l) "Subsidiary" or "Subsidiaries" shall mean any corporation(s) of
which the Company owns or controls, directly or indirectly, more than a
majority of the voting stock.

        (m) "Ten Percent Owner" shall mean an individual who, at the time an
Option is granted, owns or controls, directly or indirectly, more than ten
percent (10%) of the total combined voting power of all classes of stock of the
Company or a Subsidiary.

                               3. EFFECTIVE DATE

        The effective date of the Plan (the "Effective Date") shall be the date
the Plan is adopted by the Board of Directors. The Plan must subsequently be
approved by the shareholders of the Company by the affirmative vote of the
holders of not less than a majority of the Shares voted at a meeting at which a
quorum is present, which shareholder vote must be taken no later than twelve

                                       2

<PAGE>   4

months after the date the Plan is adopted by the Board of Directors. In the
event shareholder approval of the adoption of the Plan is not obtained within
the aforesaid twelve month period, any Options granted in the intervening
period shall be void.

                          4. SHARES RESERVED FOR PLAN

        The shares of the Company's Common Stock to be sold to Eligible
Employees and Eligible Participants under the Plan may at the election of the
Board of Directors be either treasury shares or shares originally issued for
such purpose. The maximum number of Shares which shall be reserved and made
available for sale under the Plan shall be One Hundred Fifty Thousand
(150,000); provided, however, that such Shares shall be subject to the
adjustments provided in Section 8(h). Any Shares subject to an Option which for
any reason expires or is terminated unexercised may again be subject to an
Option under the Plan.

                         5. ADMINISTRATION OF THE PLAN

        The Plan shall be administered by the Board of Directors or the
Committee. The Committee shall be comprised of not less than two members
appointed by the Board of Directors of the Company from among its members, each
of whom qualifies as a "Non-Employee Director" as such term is defined in Rule
16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or any successor regulation.

        Within the limitations described herein, the Board of Directors of the
Company or the Committee shall administer the Plan, select the Eligible
Employees and Eligible Participants to whom Options will be granted, determine
the number of shares to be optioned to each Eligible Employee and Eligible
Participant and interpret, construe and implement the provisions of the Plan.
The Board of Directors or the Committee shall also determine the price to be
paid for the Shares upon exercise of each Option, the period within which each
Option may be exercised, and the terms and conditions of each Option granted
pursuant to the Plan. The Board of Directors and Committee members shall be
reimbursed for out-of-pocket expenses reasonably incurred in the administration
of the Plan.

        If the Plan is administered by the Board of Directors, a majority of
the members of the Board of Directors shall constitute a quorum, and the act of
a majority of the members of the Board of Directors present at any meeting at
which a quorum is present, or acts approved in writing by all members of the
Board of Directors shall be the acts of the Board of Directors. If the Plan is
administered by the Committee, a majority of the members of the Committee shall
constitute a quorum, and the acts of a majority of the members present at any
meeting at which a quorum is present, or acts approved in writing by all of the
members of the Committee shall be the acts of the Committee.

                                       3

<PAGE>   5

                                 6. ELIGIBILITY

        Options granted pursuant to Section 8 shall be granted only to Eligible
Employees. Options granted pursuant to Section 9 may be granted to Eligible
Employees and to Eligible Participants.

                            7. DURATION OF THE PLAN

        The Plan shall remain in effect until all Shares subject to or which
may become subject to the Plan shall have been purchased pursuant to Options
granted under the Plan; provided that Options under the Plan must be granted
within ten years from the Effective Date. The Plan shall expire on the tenth
anniversary of the Effective Date.

                         8. QUALIFIED INCENTIVE OPTIONS

        It is intended that Options granted under this Section 8 shall be
qualified incentive stock options under the provisions of Section 422 of the
Code and the regulations thereunder or corresponding provisions of subsequent
revenue laws and regulations in effect at the time such Options are granted.
Such Options shall be evidenced by stock option agreements in such form and not
inconsistent with this Plan as the Committee or the Board of Directors shall
approve from time to time, which Agreements shall contain in substance the
following terms and conditions:

        (a)       Price. The purchase price for shares purchased upon exercise
will be equal to the Market Price on the day the Option is granted; provided
that the purchase price of stock deliverable upon the exercise of a qualified
incentive stock option granted to a Ten Percent Owner under this Section 8
shall be not less than 110% of the Market Price on the day the Option is
granted, as determined by the Board of Directors or the Committee, but in no
case less than the par value of such stock.

        (b)       Number of Shares. The Agreement shall specify the number of
Shares which the Optionee may purchase under such Option, as determined by the
Board of Directors or the Committee.

        (c)       Exercise of Options. The Shares subject to the Option may be
purchased in whole or in part by the Optionee in accordance with the terms of
the Agreement from time to time after shareholder approval of the Plan, as
determined by the Board of Directors or the Committee, but in no event later
than ten years from the date of grant of the Option. Notwithstanding the
foregoing, Shares subject to an Option which is a qualified incentive stock
option granted to a Ten Percent Owner under this Section 8 may be purchased
from time to time but in no event later than five years from the date of grant
of the Option.

        (d)       Medium and Time of Payment. Stock purchased pursuant to an
Agreement shall be paid for in full at the time of purchase. Payment of the
purchase price shall be in cash or, in lieu of payment of all or part of the
purchase price in cash, the Optionee may surrender to the Company

                                       4

<PAGE>   6

Common Stock valued at the Market Price on the date of exercise of the Option
in accordance with the terms of the Agreement. Upon receipt of payment, the
Company shall, without transfer or issue tax, deliver to the Optionee (or other
person entitled to exercise the Option) a certificate or certificates for such
Shares.

        (e)       Rights as a Shareholder. An Optionee shall have no rights as a
shareholder with respect to any Shares covered by an Option until the date of
issuance of the stock certificate to the Optionee for such Shares. Except as
otherwise expressly provided in the Plan, no adjustments shall be made for
dividends (ordinary or extraordinary, whether in cash, securities or other
property) or distributions or other rights for which the record date is prior
to the date such stock certificate is issued.

        (f)       Nonassignability of Option. No Option shall be assignable or
transferable by the Optionee except by will or by the laws of descent and
distribution. During the lifetime of the Optionee, the Option shall be
exercisable only by him or her.

        (g)       Effect of Termination of Employment or Death. In the event an
Optionee during his or her lifetime ceases to be an employee of the Company or
of any Subsidiary of the Company for any reason (including retirement) other
than death or permanent and total disability, any Option or unexercised portion
thereof which was otherwise exercisable on the date of termination of
employment shall expire unless exercised within a period of three months from
the date on which the Optionee ceased to be an employee, but in no event after
the term provided in the Optionee's Agreement. In the event an Optionee ceases
to be an employee of the Company or of any Subsidiary of the Company for any
reason (including retirement) other than death or permanent and total
disability prior to the time that an Option or portion thereof becomes
exercisable, such Option or portion thereof which is not then exercisable shall
terminate and be null and void. Whether authorized leave of absence for
military or government service shall constitute termination of employment for
the purpose of this Plan shall be determined by the Board of Directors or the
Committee, which determination shall be final and conclusive.

        In the event an Optionee ceases to be an employee of the Company or any
Subsidiary of the Company by reason of death or permanent and total disability,
any Option or unexercised portion thereof which was otherwise exercisable on
the date such Optionee ceased employment shall expire unless exercised within a
period of one year from the date on which the Optionee ceased to be an
employee, but in no event after the term provided in the Optionee's Agreement.
In the event that an Optionee during his or her lifetime ceases to be an
employee of the Company or any Subsidiary of the Company by reason of death or
permanent and total disability, any Option or portion thereof which was not
exercisable on the date such Optionee ceased employment may, in the discretion
of the Board of Directors or the Committee, be accelerated and become
immediately exercisable for a period of one year from the date on which the
Optionee ceased to be an employee, but in no event shall the exercise period
extend past the term provided in the Optionee's Agreement.

                                       5

<PAGE>   7

        "Permanent and total disability" as used in this Plan shall be as
defined in Section 22(e)(3) of the Code.

        In the event of the death of an Optionee, the Option shall be
exercisable by his or her personal representatives, heirs or legatees, as
provided herein.

        (h)       Recapitalization. In the event dividends are payable in Common
Stock or in the event there are splits, subdivisions or combinations of shares
of Common Stock, the number of Shares available under the Plan shall be
increased or decreased proportionately, as the case may be, and the number and
Option exercise price of Shares deliverable upon the exercise thereafter of any
Option theretofore granted shall be increased or decreased proportionately, as
the case may be, as determined to be proper and appropriate by the Board of
Directors or the Committee.

        (i)       Reorganization. In the event the Company is merged or
consolidated with another corporation and the Company is not the surviving
corporation, or in case the property or stock of the Company is acquired by
another corporation, or in case of a separation, reorganization,
recapitalization or liquidation of the Company, the Board of Directors of the
Company, or the Board of Directors of any corporation assuming the obligations
of the Company hereunder, shall either (i) make appropriate provision for the
protection of any outstanding Options by the substitution on an equitable basis
of appropriate stock of the Company, or of the merged, consolidated or
otherwise reorganized corporation which will be issuable in respect to the
shares of Common Stock of the Company, provided only that the excess of the
aggregate fair market value of the Shares subject to option immediately after
such substitution over the purchase price thereof is not more than the excess
of the aggregate fair market value of the Shares subject to option immediately
before such substitution over the purchase price thereof, or (ii) provide
written notice to the Optionee that the Option (including, in the discretion of
the Board of Directors, any portion of such Option which is not then
exercisable) must be exercised within sixty days of the date of such notice or
it will be terminated. If any adjustment under this Section 8(i) would create a
fractional Share or a right to acquire a fractional Share, such shall be
disregarded and the number of Shares available under the Plan and the number of
Shares covered under any Options previously granted pursuant to the Plan shall
be the next lower number of Shares, rounding all fractions downward. An
adjustment made under this Section 8(i) by the Board of Directors shall be
conclusive and binding on all affected persons.

        Except as otherwise expressly provided in this Plan, the Optionee shall
have no rights by reason of any subdivision or consolidation of shares of stock
of any class, or the payment of any stock dividend or any other increase or
decrease in the number of shares of stock of any class, or by reason of any
dissolution, liquidation, merger, or consolidation or spin-off of assets or
stock of another corporation; and any issue by the Company of shares of stock
of any class, or securities convertible into shares of stock of any class,
shall not affect, and no adjustment by reason thereof shall be made with
respect to, the number or prices of Shares subject to an Option.

                                       6

<PAGE>   8

        The grant of an Option pursuant to the Plan shall not affect in any way
the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure or to merge or
to consolidate or to dissolve, liquidate or sell, or transfer all or any part
of its business or assets.

        (j)       Annual Limitation. The aggregate fair market value (determined
at the time the Option is granted) of the Shares with respect to which
incentive stock options are exercisable for the first time by an Optionee
during any calendar year (under all incentive stock option plans of the Company
and its Subsidiaries) shall not exceed $100,000. Any excess over such amount
shall be deemed to be related to and part of a non-qualified stock option
granted pursuant to Section 9.

        (k)       General Restriction. Each Option shall be subject to the
requirement that if at any time the Board of Directors shall determine, in its
reasonable discretion, that the listing, registration or qualification of the
Shares subject to such Option upon any securities exchange or under any state
or federal law, or the consent or approval of any government regulatory body,
is necessary or desirable as a condition of, or in connection with, the
granting of such Option or the issue or purchase of Shares thereunder, such
Option may not be exercised in whole or in part unless such listing,
registration, qualification, consent or approval shall have been effected or
obtained free of any conditions not acceptable to the Board of Directors.
Alternatively, such Options shall be issued and exercisable only upon such
terms and conditions and with such restrictions as shall be necessary or
appropriate to effect exemption from such listing, registration, or other
qualification requirement.

                            9. NON-QUALIFIED OPTIONS

        The Board of Directors or the Committee may grant to Eligible Employees
or Eligible Participants Options under the Plan which are not qualified
incentive stock options under the provisions of Section 422 of the Code. Such
non-qualified options shall be evidenced by Agreements in such form and not
inconsistent with this Plan as the Board of Directors or the Committee shall
approve from time to time, which Agreements shall contain in substance the same
terms and conditions as set forth in Section 8 hereof with respect to qualified
incentive stock options; provided, however, that:

                (i)        the limitations set forth in Sections 8(a) and 8(c)
with respect to Ten Percent Owners shall not be applicable to non-qualified
options granted to any Ten Percent Owner;

                (ii)       the limitations set forth in Section 8(g) with
respect to termination of employment or death shall not be applicable to
non-qualified option grants, and any such limitations shall be determined on a
case by case basis by the Board of Directors or the Committee at the time of
the non-qualified option grant;

                (iii)      the limitation set forth in Section 8(j) with respect
to the annual limitation of incentive stock options shall not be applicable to
non-qualified option grants; and

                                       7

<PAGE>   9

                (iv)       non-qualified options may be granted at a purchase
price equal to not less than 75% of the Market Price on the day the Option is
granted.

                           10. AMENDMENT OF THE PLAN

        The Plan may at any time or from time to time be terminated, modified
or amended at a meeting of the shareholders of the Company at which a quorum is
present by the affirmative vote of the holders of a majority of the Shares
voted on such issue. The Board of Directors may at any time and from time to
time modify or amend the Plan in any respect, except that without shareholder
approval the Board of Directors may not (1) increase the maximum number of
Shares for which Options may be granted under the Plan (other than increases
due to changes in capitalization as referred to in Section 8(h) hereof), or (2)
change the class of persons eligible for qualified incentive options. The
termination or any modification or amendment of the Plan shall not, without the
written consent of an Optionee, affect his or her rights under an Option or
right previously granted to him or her. With the written consent of the
Optionee affected, the Board of Directors or the Committee may amend
outstanding option agreements in a manner not inconsistent with the Plan.
Without employee consent, the Board of Directors may at any time and from time
to time modify or amend outstanding option agreements in such respects as it
shall deem necessary in order that incentive options granted hereunder shall
comply with the appropriate provisions of the Code and regulations thereunder
which are in effect from time to time respecting "Qualified Incentive Options."
The Company's Board of Directors may also suspend the granting of Options
pursuant to the Plan at any time and may terminate the Plan at any time;
provided, however, no such suspension or termination shall modify or amend any
Option granted before such suspension or termination unless (1) the affected
participant consents in writing to such modification or amendment or (2) there
is a dissolution or liquidation of the Company.

                               11. BINDING EFFECT

        All decisions of the Board of Directors or the Committee involving the
implementation, administration or operation of the Plan or any offering under
the Plan shall be binding on the Company and on all persons eligible or who
become eligible to participate in the Plan.

                            12. APPLICATION OF FUNDS

        The proceeds received by the Company from the sale of Common Stock
pursuant to Options exercised hereunder will be used for general corporate
purposes.

                                       8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]