Document:

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                                                                    EXHIBIT 10.9

                               ARBITRATION NOTICE:

THIS AGREEMENT IS SUBJECT TO ARBITRATION PURSUANT TO THE SOUTH CAROLINA UNIFORM
ACT (SC CODE SS.15-48-10 ET SEQ.) AND ANY AMENDMENTS THERETO, AS MODIFIED
HEREIn.

                               EMPLOYMENT CONTRACT

         THIS EMPLOYMENT AGREEMENT, entered into the 4th day of March, 2000, by
and between Beach First National Bancshares, Inc. and Beach First National Bank,
hereinafter referred to as "Bank", and Walt Standish, hereinafter referred to as
the "Executive".

                          W I T N E S S E T H T H A T:

         WHEREAS, the Bank desires to employ Executive as the President and CEO
of Beach First National Bank and President of Beach First National Bancshares,
Inc., and Executive desires such employment upon the terms and conditions set
forth herein below.

         NOW, THEREFORE, for and in consideration of the mutual covenants and
agreements set forth herein, the parties agree as follows:

         1.       Employment: The Bank agrees to employ Executive as President
and Chief Executive Officer of Beach First National Bank and President of Beach
First National Bancshares, Inc., for a period of two (2) years commencing on
March 20, 2000, unless terminated by either party in accordance with the terms
herein. In the event Change in Control of the Bank occurs within the two (2)
year employment period, the Executive's employment will automatically extend for
an additional three (3) years. For the purposes of this Contract, a Change in
Control of the Bank shall mean that as of the date of this Contract, there is a
change in the members of the Board of Directors in that a majority of the
members are new members and have never served as members of the Bank Board or
that the Shareholders of the Bank approved a merger, consolidation or
reorganization unless such merger, consolidation or reorganization is as a
result of a complete liquidation or dissolution of the Bank or an agreement for
the sale or other disposition of all or substantially all of the assets of the
Bank to any entity other than a transfer to a subsidiary of the Bank. In the
event there occurs a change in control, any restrictions on any outstanding
incentive awards (included restricted stock), granted to the Executive under any
incentive plan or arrangement shall lapse and such incentive award or awards
shall immediately become one hundred (100%) percent vested; all stock options
and stock appreciation rights granted to the Executive shall become immediately
exercisable and shall become one hundred (100%) percent vested; and any
performance units granted to the Executive shall become one hundred (100%)
percent vested.

         2.       Performance: During the term of this Contract and any renewals
or extensions hereof, if any, Executive agrees to devote substantially all of
his full business time, attention and efforts to the performance of his duties
for the Bank, it being understood that the Executive's

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duties are executive and administrative and subject to definition and direction
by the Bank's Board of Directors. Provided, nothing herein contained shall
restrict or prevent Executive from personally, on his own account and solely for
his own benefit, investing in stocks, bonds, commodities, real estate or other
forms of investment and provided further, that Executive may engage in other
activities, such as professional, charitable, educational, religious and similar
types of organizations, speaking engagements, which are not, or are not likely
to become, in competition, directly or indirectly, with the Bank, and similar
type activities to the extent that such other activities do not inhibit or
prohibit the performance of Executive's duties or conflict with the business of
the Bank.

         The Executive shall use his best efforts to assure (1) that Beach First
National Bank is operated in a manner that will achieve satisfactory ratings in
reports of examination by the Office of the Comptroller of the Currency and (2)
that the Bank and its holding company comply with the reporting requirements of
the applicable government agencies.

         3.       Compensation: As remuneration for the full-time services, the
Executive shall receive a salary of One Hundred Twenty-five and no/100
($125,000.00) Dollars per annum from which the appropriate employment taxes
shall be paid and said salary shall be paid bi-weekly.

         4.       Bonuses: On January 31 following the first year of the
agreement, the Executive will receive an eight (8%) percent cash bonus of the
net pre-tax income of the Bank for the year 2000. On January 31 following the
second year of the contract, the Executive will receive a five (5%) percent cash
bonus of the net pre-tax income of the Bank for the year 2001. As used in this
Section "net pre-tax income" shall mean income computed according to generally
accepted accounting principles plus the amount of any accrual for the bonus that
may be due to the Executive under this Section.

         5.       Other Benefits: The Bank shall make available to the Executive
the life insurance, dental and health insurance, disability insurance,
retirement benefits and such other benefits or plans as are provided to the Bank
employees and the Executive may participate in said programs if eligible and the
cost for participation will be the same as applicable to all other similarly
situated employees. If the Executive is continuously employed by the Bank for
ten (10) years and then leaves such employment, the Executive will be permitted,
to the extent allowed by the applicable insurers/providers, to continue to
participate in health and dental insurance and other employee benefits, at his
own expense (this obligation shall survive the termination of this Agreement).

         In addition, the Bank shall designate the Executive as the authorized
user of the Dunes Club membership for so long as the Executive remains the
President and CEO of Beach First National Bank.

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         6.       Vacation: The Executive may take the minimum amount of
vacation permitted in accordance with the then applicable policies of the Office
of the Comptroller of the Currency, which shall be a minimum of fifteen (15)
days annually.

         7.       Moving Expenses: The Executive shall be reimbursed his
reasonable moving expenses from Charlotte, North Carolina to Myrtle Beach, South
Carolina. He shall obtain two (2) estimates of his moving expenses and present
them to the Bank Personnel Committee for approval. The Executive will also be
eligible for temporary housing for a period of ninety (90) days in the maximum
amount of Three Thousand and no/100 ($3,000.00) Dollars. Executive must present
invoices or receipts for any reimbursement hereunder.

         8.       Grant of Options: The Bank will grant to the Executive options
under the Bank's incentive stock option plan to purchase five thousand (5,000)
shares of the Bank's common stock for an exercise price of Twelve and 50/100
($12.50) Dollars per share; provided, however, that options for two thousand
five hundred (2,500) shares shall not be exercisable for one (1) year and shall
lapse and not ever be exercisable if during the year Beach First National Bank
receives a less than satisfactory overall rating on a safety and soundness
examination conducted by the Office of the Comptroller of the Currency and the
Board of Directors does not find that the Executive made reasonable efforts to
avoid such a rating and is taking appropriate steps to cure the deficiencies
which led to such rating; and, provided further, that the options for the other
two thousand five hundred (2,500) shares shall not be exercisable for two (2)
years and shall likewise lapse if a less than satisfactory rating is received
during the second year and the Board of Directors not make such a funding.
Provided however, that if the Bank does not meet the criteria for any year, the
options may vest in the sole discretion of the Board of Directors and the Board
shall notify the Executive in writing if the options are to be vested. In
addition:

                  1.       Options shall be subject to immediate vesting in the
                           event of a change in control;

                  2.       All options shall be exercisable in accordance with
                           the Bank's stock option plan, as may be amended from
                           to time.

                  3.       All options shall be exercisable at any time during
                           the ten (10) years following their vesting at the
                           Twelve and 50/100 ($12.50) Dollars per share price;
                           except all unexercised options will expire thirty
                           (30) days after termination of employment other than
                           as a result of death. In such event, Executive's
                           representative shall have the right to exercise said
                           options within six (6) months thereafter; and

                  4.       All options are to be non-transferrable and
                           non-assignable except upon death and then only by
                           Executive's Will.

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         In addition, the parties understand that the Bank may adopt an
incentive stock option plan after the effective date of this Agreement.

         9.       Expenses: The Executive shall be promptly reimbursed, against
presentation of vouchers or receipts, for all authorized expenses properly and
reasonably incurred by him on behalf of the Bank. In addition, the Bank will
provide the Executive with an automobile with approval of the Bank Personnel
Committee.

         10.      Confidential Information and Related Matters: Executive
acknowledges that the Bank has information which is proprietary, confidential
and information which constitutes trade secrets which the Bank uses in its
business and which is essential to the Bank's continued ability to compete and
be successful. Executive also acknowledges that the release of such information
would cause serious and irreparable harm to the Bank's business and the Bank has
expended considerable time, resources and capital in the development of this
information.

         The term "Trade Secrets", shall be defined as set forth in the South
Carolina Uniform Trade Secrets Act which defines Trade Secrets as information,
including a formula, pattern, compilation, program, device, method, technique,
or process that (i) derives independent 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 subject to efforts that are reasonable under the circumstances to
maintain its secrecy. The term "Confidential Information", shall mean Bank
materials and information to which the public does not have ready access to and
the Executive receives access or which Executive develops, individually or in
collaboration with others, as a result of or in the course of his employment or
through the use of any of Bank's facilities or resources. The following
constitutes "Trade Secrets" and "Confidential Information":

                  1.       The internal computer software and Bank designed
                           programs utilized for marketing development, sales,
                           customer and event profiles;

                  2.       Marketing and advertising plans and techniques,
                           purchasing information, price lists, price policies,
                           vendors' lists, profit margin information, quoting
                           procedures, daily, weekly, monthly and yearly
                           financial reports, customer profiles, customer
                           contacts, security procedures and existing and
                           potential customer data;

                  3.       Personnel information such as employee's names and
                           addresses, salary and wage information, performance
                           criteria and job descriptions, performance
                           evaluations, personnel forms and procedures, training
                           programs and procedures;

                  4.       All contracts, proposals, and accounts with vendors,
                           suppliers, and customers;

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                  5.       Private telephone numbers, facsimile numbers and
                           e-mail's;

                  6.       Customer/account lists/databases for business
                           contacts.

         Confidential information shall not include any materials or information
to the extent that such materials or information are publicly known (through no
wrongful act of Executive) or generally utilized by others engaged in the same
business or activities as the Bank or were known by Executive but not as a
result of due to his employment hereunder. Failure to designate any Confidential
Information as "confidential" shall not affect its status as Confidential
Information under the terms of this Contract.

         Executive agrees that during the term of his employment, Executive
shall not use or disclose any Trade Secrets or Confidential Information of the
Bank, except as an employee of the Bank and with the consent of the Bank.

         11.      Covenant Not to Solicit Bank's Customers: During Executive's
employment and in the event of termination, for whatever reason, for a period of
two (2) years thereafter Executive will not directly or indirectly, alone or in
association with or on behalf of any other person or entity, solicit, divert or
take away or attempt to solicit, divert or take away from Beach First National
Bank any of its customers or potential customers for any business purpose
similar to the Bank except in the course of performing duties assigned to him or
her by the Bank. "Customers" shall mean any person, firm, corporation or other
entity for which Bank has performed services during the three (3) year period
immediately preceding Executive's termination. "Potential customers" shall mean
any person, firm, corporation or other entry which Bank has solicited or
identified for solicitation during Executive's employment with Bank.

         12.      Covenant Not to Compete: For a period of two (2) years after
the termination of employment, if such termination is by the Bank for cause as
set out in Section 13 or by the Executive for any reason other than a material
breach of this Agreement by the Bank, Executive will not, directly or
indirectly, for himself or on behalf of, or in conjunction with, any other
person, persons, employer, partnership or corporation be engaged or be employed
in a similar business or venture as the Bank' business in which Executive was
employed by Bank within the County of Horry.

         Executive acknowledges that the two (2) year restriction and the
geographical restriction are fair and reasonable for the protection of the Bank.
The restrictions do not impose any undue hardship and would not deprive
Executive of the ability to earn a livelihood.

         13.      Termination: The Bank shall have the right to terminate this
Agreement for cause if any of the following events occur and the Executive is
given not less than seven (7) days notice that the Bank proposes to terminate
for cause and the Executive is given the opportunity to

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appear before the Board of Directors of the Bank and, if the event is curable,
the Executive is given a reasonable opportunity to cure:

                  1.       The permanent disability of the Executive;

                  2.       Executive's failure or refusal to comply with the
                           policies, standards and regulations of the Bank from
                           time to time established by the Board of Directors;

                  3.       Executive's fraud, dishonesty or other misconduct in
                           the performance of his duties on behalf of the Bank;

                  4.       The Executive is convicted of a felony or any other
                           crime involving fraud or dishonest, or any act of
                           misconduct which relates directly or indirectly to
                           the duties of the Executive;

                  5.       A judgment is entered against Executive for:
                           embezzlement, fraud, breach of trust, theft,
                           violation of laws respecting controlled substances or
                           other misconduct which adversely affects the Bank or
                           the Executive's ability to perform his duties under
                           this Agreement and such judgment becomes final and
                           unappealable.

                  6.       Any acts or conduct which amount to fraud,
                           dishonesty, willful misconduct, or unethical behavior
                           which adversely affects the Bank or the Executive's
                           ability to perform his duties under this Agreement;

                  7.       Executive becomes bankrupt or insolvent;

                  8.       Absenteeism not related to injury, illness, sickness
                           or permitted vacation.

         14.      Automatic Termination: The Bank has no obligation to provide
Executive notice more than once for any acts or matters for which Executive has
received any written warning or for which Executive has been provided an
opportunity to cure. In such event, termination can be automatic. Except for the
Bank's obligation to pay accrued benefits or salary earned, this Agreement shall
terminate upon the death of the Executive.

         15.      Arbitration: In the event of any controversy or claim arising
out of or relating to this Agreement, or the breach, termination or validity
thereof, the parties will attempt in good faith to resolve such controversy or
claim. If the matter has not been resolved within sixty (60) days of the
commencement of such discussions (which period may be extended by mutual
agreement), then the parties hereby agree to immediately submit the controversy
to binding arbitration. The arbitration shall be conducted by a single
arbitrator in accordance with the American Arbitration Association. Judgment
upon the award rendered by the arbitrator may be entered by a court having
jurisdiction thereof. Arbitration shall take place in Horry County,

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South Carolina. Each of the parties shall use all reasonable efforts to insure
that any arbitration proceeding is completed with in sixty (60) days following
notice of a request for arbitration hereunder.

         16.      Board of Directors: The Bank will cause the Executive to be
elected to the Board of Directors of the Bank as a voting member and the
Executive shall serve thereon during his employ hereunder. The Bank will cause
the Executive to be a management nominee for election to the Bank's Board of
Directors during the term of this Agreement. Upon termination of Executive's
employment hereunder, Executive shall automatically resign any positions with
the Bank including Board membership.

         17.      Payment by the Bank: In the event that any payment required
under this Agreement would be considered a "golden parachute payment" under 12
C.F.R. ss.359.1, the Bank shall not be obligated to make such payment at such
time but shall defer making such payment until such time as the making of the
payment would not be considered to be a "golden parachute payment."

         18.      Continuation of Employment: Not later than eighteen (18)
months after the date of this Agreement the parties agree to meet and discuss in
good faith the continuation of the Executive's employment after the term of this
Agreement.

         19.      Governing Law: This Agreement shall be governed by and
construed with the laws of the State of South Carolina without regard to
conflicts of laws provisions thereof.

         20.      Prior Agreements: This Agreement supersedes any prior
agreements or understandings by and/or between the parties and constitutes the
entire agreement between the parties and may be modified only by a writing
signed by all of the parties hereto.

         21.      Notice: For the purposes of this Agreement, notices and all
other communications provided for in the Agreement shall be in writing and shall
be deemed duly given when delivered or mailed by the United States Certified or
Registered Mail, Return Receipt Requested, Postage Prepaid, addressed as
follows:

                           Beach First National Bank
                           1550 North Oak Street
                           Myrtle Beach, South Carolina 29577

                           Walt Standish
                           c/o Beach First National Bank
                           1550 North Oak Street
                           Myrtle Beach, South Carolina 29577

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or to such other address as either party may have furnished the other in writing
in accordance herewith except that notices or chance of address shall be
effective only upon receipt.

         IN WITNESS WHEREOF, Bank and the Executive have caused this instrument
to be executed on the date first above written.

                                         Bank:

                                         Beach First National Bancshares, Inc.

/s/  Katie Huntley                  By:      /s/  Raymond E. Cleary III
------------------------------          --------------------------------------
/s/ Ann W. Jones                    Its:    Chairman
------------------------------          --------------------------------------

                                         Beach First National Bank

/s/  Katie Huntley                  By:   /s/  Raymond E. Cleary III
------------------------------         ---------------------------------------
/s/ Ann W. Jones                    Its:    Chairman
------------------------------          --------------------------------------

                                         Executive:

/s/  Katie Huntley                  /s/ Walter E. Standish, III
------------------------------      ------------------------------------------
/s/ Ann W. Jones                        Walt Standish
------------------------------

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STATE OF SOUTH CAROLINA             )
                                    )                 PROBATE
COUNTY OF  HORRY                    )

         PERSONALLY appeared before me the undersigned witness and made oath
that (s)he saw the within named Bank by its Chairman, Raymond E. Cleary, III
sign, seal and as its act and deed deliver the within written Agreement; and
that (s)he with the other witness subscribed above witnessed the execution
thereof.
                                          /s/ Ann W. Jones
                                    ----------------------------
                                             Ann W. Jones

SWORN to before me this 4th

day of  March, 2000

Linda S. Dickinson   (LS)
Notary Public for South Carolina

My Commission Expires:   August 14, 2006

STATE OF SOUTH CAROLINA             )
                                    )                 PROBATE
COUNTY OF  HORRY                    )

         PERSONALLY appeared before me the undersigned witness and made oath
that (s)he saw the within named Walt Standish sign, seal and as his/her act and
deed deliver the within written Agreement; and that (s)he with the other witness
subscribed above witnessed the execution thereof.

                                    /s/ Ann W. Jones
                                    --------------------------
                                        Ann W. Jones

SWORN to before me this 4th

day of   March, 2000

Linda s. Dickinson (LS)
Notary Public for South Carolina

My Commission Expires: August 14, 2006

                                  Page 9 of 9<PAGE>   1

                                                                   EXHIBIT 10-11

                              THE BANC CORPORATION
                        DEFERRED COMPENSATION AGREEMENT

     THIS AGREEMENT is made this                day of                1999 by
and between The Banc Corporation, located in Birmingham, Alabama (the
"Company"), and [NAME OF DIRECTOR] (the "Director").

                                  INTRODUCTION

     To encourage the Director to remain a director of the Company, the Company
is willing to provide to the Director supplemental deferred compensation. The
Company will pay the benefits from its general assets.

                                   AGREEMENT

     The Director and the Company agree as follows:

                                   ARTICLE 1

                                  DEFINITIONS

     Whenever used in this Agreement, the following words and phrases shall have
the meanings specified:

     1.1 "Change of Control" means the transfer of 51% or more of the Company's
outstanding voting common stock.

     1.2 "Deferral Account" means the account maintained on the books of the
Company as described in Section 2.2.

     1.3 "Deferral Benefit" means the benefit described in Article 3.

     1.4 "Effective Date" means September 1, 1999.

     1.5 "Normal Retirement Age" means the Director's age

     1.6 "Normal Retirement Date" means the later of the Director's Termination
of Service or Normal Retirement Age.

     1.7 "Opportunity Rate" means for each Plan Year, the Federal Reserve's
discount rate on the first day of the Plan Year.

     1.8 "Plan Year" means each one-year period from the Effective Date.

     1.9 "Simulated Investments" mean investments specified by the Company for
use in measuring the Deferral Benefit. Once designated, the Company can change
the Simulated Investments only with the Director's written agreement. The
Simulated Investments shall be of equal initial amounts.

     1.10 "Simulated Investment Rate" means the after-tax rate of return on a
Simulated Investment. If the Simulated Investment is a life insurance policy,
the Simulated Investment Rate shall not include receipt of the policy's death
benefits.

     1.11 "Termination of Service" means the Director's ceasing to serve on the
Board of the Company or its successor for any reason.
<PAGE>   2

                                   ARTICLE 2

                                DEFERRAL ACCOUNT

     2.1 Simulated Investments.  The Company shall establish two Simulated
Investments in the amount of $ (total premium) as of the Effective Date, as
follows:

          2.1.1 Simulated Investment Number One.  The first shall track the cash
     surrender value of one or more specified life insurance policies or a
     specified portion of a specified pool of life insurance policies.

          2.1.2 Simulated Investment Number Two.  The second shall accumulate
     the principal and net after-tax interest earnings of an investment earning
     a pretax yield of the Opportunity Rate for each Plan Year. The income tax
     rate selected shall be equal to the Company's highest marginal tax rate for
     the previous calendar year. Interest shall accrue monthly and be compounded
     at the end of each Plan Year using the Opportunity Rate in effect for the
     Plan Year. Benefit payments under this agreement shall be deducted from
     this simulated investment balance on the first day of the Plan Year
     following payment of such benefit.

          2.2 Deferral Account.  The Company shall establish a Deferral Account
     on its books for the Director. The Deferral Account balance as of any date
     is determined by (a) taking the cash surrender value of the first simulated
     investment less the balance of the second simulated investment as of such
     date, and (b) dividing the net difference by the result of one minus the
     Company's highest marginal tax rate for the previous calendar year.

     2.3 Statement of Accounts.  The Company shall provide to the Director,
within 60 days after each Plan Year, a statement setting forth the Deferral
Account balance.

     2.4 Accounting Device Only.  The Deferral Account and Simulated Investments
are solely devices for measuring amounts to be paid under this Agreement. They
are not a trust fund of any kind. The Director is a general unsecured creditor
of the Company for the payment of benefits. The benefits represent the mere
Company promise to pay such benefits. The Director's rights are not subject in
any manner to anticipation, alienation, transfer, assignment, pledge,
encumbrance, attachment, or garnishment by the Director's creditors.

                                   ARTICLE 3

                               LIFETIME BENEFITS

     3.1 Normal Retirement Benefit.  Upon Termination of Service on the Normal
Retirement Date, the Company shall pay to the Director the primary and secondary
benefits described in Sections 3.1.1 and 3.1.2.

          3.1.1 Primary Benefit.  The benefit under this Section 3.1.1 is the
     Deferral Account balance at end of the Plan Year immediately preceding the
     Normal Retirement Date. The Company shall pay the primary benefit in ten
     (10) equal annual installments (without adjustment for interest or earnings
     during such period) commencing on the first day of the month following the
     Director's Termination of Service.

          3.1.2 Secondary Benefit.  The benefit under this Section 3.1.2 as of
     the end of each Plan Year following the Director's Termination of Service,
     and continuing for a total of ten (10) Plan Years, is an amount equal to
     the growth, if any, and notwithstanding any payments of the primary benefit
     amounts, since the end of the preceding Plan Year, in the Deferral Account
     balance. The Company shall pay the secondary benefit to the Director within
     60 days of the end of each Plan Year.

     3.2 Early Termination.  If Termination of Service occurs prior to the
Normal Retirement Age other than for Death or following a Change of Control, the
Company shall pay to the Director, in a lump sum within sixty (60) days of the
Termination of Service, an amount equal to the Deferral Account Balance
immediately prior to the Termination of Service, in lieu of any other benefit
under this Agreement.

     3.3 Change of Control Benefit.  Upon Termination of Service following a
Change of Control, the Company shall pay to the Director the primary and
secondary benefits described in Sections 3.3.1 and 3.3.2.

                                        2
<PAGE>   3

          3.3.1 Primary Benefit.  The benefit under this Section 3.3.1 is the
     Deferral Account balance at end of the Plan Year immediately preceding the
     Director's Termination of Service. The Company shall pay the primary
     benefit in ten (10) equal annual installments (without adjustment for
     interest or earnings during such period) commencing on the first day of the
     month following the Director's Termination of Service.

          3.3.2 Secondary Benefit.  The benefit under this Section 3.3.2 as of
     the end of each Plan Year following the Director's Termination of Service,
     and continuing for a total of ten (10) Plan Years, is an amount equal to
     the growth, if any, and notwithstanding any payments of the primary benefit
     amounts, since the end of the preceding Plan Year, in the Deferral Account
     balance. The Company shall pay the secondary benefit to the Director within
     60 days of the end of each Plan Year.

                                   ARTICLE 4

                                 DEATH BENEFITS

     4.1 Death During Active Service.  If the Director dies while in active
service on the board of the Company, the Company shall pay to the Director's
beneficiary the primary and secondary benefits described in Sections 4.1.1 and
4.1.2.

          4.1.1 Primary Benefit.  The benefit under this Section 4.1.1 is the
     Deferral Account balance at end of the Plan Year immediately preceding the
     director's death. The Company shall pay the primary benefit in ten (10)
     equal annual installments (without adjustment for interest or earnings
     during such period) commencing on the first day of the month following the
     Director's death.

          4.1.2 Secondary Benefit.  The benefit under this Section 4.1.2 as of
     the end of each Plan Year following the Director's death, and continuing
     for a total of ten (10) Plan Years, is an amount equal to the growth, if
     any, since the end of the preceding Plan Year, in the Deferral Account
     balance. The Company shall pay the secondary benefit to the Director's
     beneficiary within 60 days of the end of each Plan Year.

     4.2 Death During Benefit Period.  If the Director dies after benefit
payments have commenced under this Agreement but before receiving all such
payments, the Company shall pay the remaining benefits to the Director's
beneficiary at the same time and in the same amounts they would have been paid
to the Director had the Director survived.

     4.3 Death After Termination of Service But Before Benefit Payments
Commence.  If the Director 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 Director's beneficiary that the Director 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 Director's death.

                                   ARTICLE 5

                                 BENEFICIARIES

     5.1 Beneficiary Designations.  The Director shall designate a beneficiary
by filing a written designation with the Company. The Director may revoke or
modify the designation at any time by filing a new designation. However,
designations will only be effective if signed by the Director and accepted by
the Company during the Director's lifetime. The Director's beneficiary
designation shall be deemed automatically revoked if the beneficiary predeceases
the Director, or if the Director names a spouse as beneficiary and the marriage
is subsequently dissolved. If the Director dies without a valid beneficiary
designation, all payments shall be made to the Director's surviving spouse, if
any, and if none, to the Director's surviving children and the descendants of
any deceased child by right of representation, and if no children or descendants
survive, to the Director's estate.

                                        3
<PAGE>   4

     5.2 Facility of Payment.  If a benefit is payable to a minor, to a person
declared incompetent, or to a person incapable of handling the disposition of
his or her property the Company may pay such benefit to the guardian, legal
representative or person having the care or custody of such minor, incompetent
person or incapable person. The Company may require proof of incompetence,
minority or guardianship as it may deem appropriate prior to distribution of the
benefit. Such distribution shall completely discharge the Company from all
liability with respect to such benefit.

                                   ARTICLE 6

                              GENERAL LIMITATIONS

     Notwithstanding any provision of this Agreement to the contrary, the
Company shall not pay any benefit under this Agreement:

     6.1 Termination for Cause.  If the Company terminates the Director's
service for:

          6.1.1 Gross negligence or gross neglect of duties;

          6.1.2 Commission of a felony or of a gross misdemeanor involving moral
     turpitude; or

          6.1.3 Fraud, disloyalty, dishonesty or willful violation of any law or
     significant Company policy resulting in an adverse effect on the Company.

     6.2 Suicide.  If the Director commits suicide within two years after the
date of this Agreement, or if the Director has made any material misstatement of
fact on any application for life insurance purchased by the Company.

                                   ARTICLE 7

                          CLAIMS AND REVIEW PROCEDURES

     7.1 Claims Procedure.  The Company shall notify the Director's beneficiary
in writing, within 90 days of his or her written application for benefits, of
his or her eligibility or noneligibility for benefits under the Agreement. If
the Company determines that the beneficiary is not eligible for benefits or full
benefits, the notice shall set forth (1) the specific reasons for such denial,
(2) a specific reference to the provisions of the Agreement on which the denial
is based, (3) a description of any additional information or material necessary
for the claimant to perfect his or her claim, and a description of why it is
needed, and (4) an explanation of the Agreement's claims review procedure and
other appropriate information as to the steps to be taken if the beneficiary
wishes to have the claim reviewed. If the Company determines that there are
special circumstances requiring additional time to make a decision, the Company
shall notify the beneficiary of the special circumstances and the date by which
a decision is expected to be made, and may extend the time for up to an
additional 90-day period.

     7.2 Review Procedure.  If the beneficiary is determined by the Company not
to be eligible for benefits, or if the beneficiary believes that he or she is
entitled to greater or different benefits, the beneficiary shall have the
opportunity to have such claim reviewed by the Company by filing a petition for
review with the Company within 60 days after receipt of the notice issued by the
Company. Said petition shall state the specific reasons which the beneficiary
believes entitle him or her to benefits or to greater or different benefits.
Within 60 days after receipt by the Company of the petition, the Company shall
afford the beneficiary (and counsel, if any) an opportunity to present his or
her position to the Company orally or in writing, and the beneficiary (or
counsel) shall have the right to review the pertinent documents. The Company
shall notify the beneficiary of its decision in writing within the 60-day
period, stating specifically the basis of its decision, written in a manner
calculated to be understood by the beneficiary and the specific provisions of
the Agreement on which the decision is based. If, because of the need for a
hearing, the 60-day period is not sufficient, the decision may be deferred for
up to another 60-day period at the election of the Company, but notice of this
deferral shall be given to the beneficiary.

                                        4
<PAGE>   5

                                   ARTICLE 8

                           AMENDMENTS AND TERMINATION

     This Agreement may be amended or terminated only by a written agreement
signed by the Company and the Director.

                                   ARTICLE 9

                                 ADMINISTRATION

     9.1 Administration.  Unless otherwise determined by the Company's Board of
Directors ("Board"), the Board or its designee shall be the named fiduciary and
shall act for the Company under this Agreement.

     9.2 Powers of the Company.  The Company shall have all powers necessary to
administer this Agreement, including, without limitation, powers:

          9.2.1 to interpret the provisions of the Agreement; and

          9.2.2 to establish rules for the administration of the Agreement and
     to prescribe any forms required to administer the Agreement.

     9.3 Actions of the Company.  All determinations, interpretations, rules,
and decisions of the Company shall be conclusive and binding upon all persons
having or claiming to have any interest or right under this Agreement.

                                   ARTICLE 10

                                 MISCELLANEOUS

     10.1 Binding Effect.  This Agreement shall bind the Director and the
Company, and their beneficiaries, survivors, executors, administrators and
transferees.

     10.2 Non-Transferability.  Benefits under this Agreement cannot be sold,
transferred, assigned, pledged, attached or encumbered in any manner.

     10.3 Tax Withholding.  The Company shall withhold any taxes that are
required to be withheld from the benefits provided under this Agreement.

     10.4 Applicable Law.  The Agreement and all rights hereunder shall be
governed by the laws of Florida except to the extent preempted by the laws of
the United States of America.

     10.5 Unfunded Arrangement.  The Director is a general unsecured creditor 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 Director's life or any other asset held in
connection with this Agreement is a general asset of the Company to which the
Director has no preferred or secured claim.

     10.6 Administration.  The Company shall have powers which are necessary to
administer this Agreement, including but not limited to:

          10.6.1 Interpreting the provisions of the Agreement;

          10.6.2 Establishing and revising the method of accounting for the
     Agreement;

          10.6.3 Maintaining a record of benefit payments; and

          10.6.4 Establishing rules and prescribing any forms necessary or
     desirable to administer the Agreement.

                                        5
<PAGE>   6

     10.7 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 Service of advisors and the delegation of ministerial duties
to qualified individuals.

     IN WITNESS WHEREOF, the Director and a duly authorized Company officer have
signed this Agreement.

<TABLE>
<S>                                                    <C>
DIRECTOR:                                              COMPANY:
                                                       THE BANC CORPORATION

                                                       By
-------------------------------------------------         -------------------------------------------------
[NAME OF DIRECTOR]
                                                       Title
                                                             ----------------------------------------------
</TABLE>

                                        6
<PAGE>   7

                                   SCHEDULE A
                                       TO
                              THE BANC CORPORATION
                        DEFERRED COMPENSATION AGREEMENT

<TABLE>
<CAPTION>
                                                                          RETIREMENT   CONTRIBUTION
PARTICIPANT                                                   BIRTHDATE      AGE         PREMIUM
-----------                                                   ---------   ----------   ------------
<S>                                                           <C>         <C>          <C>
Andrews, James R., M.D......................................  05-02-42        65         $195,000
Berte, Neal R...............................................  05-07-40        65         $200,000
Campbell, W.T., Jr..........................................  02-16-47        65         $170,000
Carter, David R.............................................  11-27-51        65         $170,000
Dichiara, Peter R...........................................  03-02-56        65         $170,000
Durden, Earl................................................  09-29-36        67         $210,000
Gittings, John..............................................  01-16-47        65         $170,000
Hays, Steven C..............................................  09-08-56        65         $170,000
House, Larry R..............................................  07-12-43        65         $170,000
Jernigan, Thomas E., Jr.....................................  04-24-65        65         $195,000
Jones, Randall E............................................  05-13-53        65         $170,000
Kent, James Mailon, Jr......................................  12-30-40        65         $200,000
Orso, Ronald W., M.D........................................  12-26-45        65         $170,000
Ripps, Harold W.............................................  11-15-38        65         $205,000
Scrushy, Richard M..........................................  08-04-52        65         $170,000
Stephens, Michael E.........................................  09-20-43        65         $185,000
Swift, Marie................................................  10-18-41        65         $185,000
Taylor, James A.............................................  03-15-42        65         $195,000
Taylor, James A., Jr........................................  03-01-65        65         $195,000
Tillman, T. Mandell.........................................  10-21-48        65         $165,000
</TABLE>

                                        7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}]]