Document:

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                                                                   Exhibit 10.19

                         EXECUTIVE EMPLOYMENT AGREEMENT
                         ------------------------------

     THIS EXECUTIVE EMPLOYMENT AGREEMENT (the "Agreement"), is entered into as
of the 12th day of July, 1999, by and between ABC BANCORP, a Georgia corporation
("Employer"), and MARK D. THOMAS, an individual resident of the State of
Tennessee ("Executive").

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

     WHEREAS, Employer wishes to employ Executive as its Executive Vice
President and Chief Operating Officer, and Executive wishes to serve in such
position, on the terms and conditions set forth herein;

     WHEREAS, Executive desires to be assured of a secure minimum compensation
from Employer for his services over a defined term;

     WHEREAS, Employer desires to assure the continued services of Executive on
behalf of Employer on an objective and impartial basis and without distraction
or conflict of interest in the event of an attempt by any person or entity to
obtain control of Employer;

     WHEREAS, Employer desires to provide fair and reasonable benefits to
Executive on the terms and subject to the conditions set forth in this
Agreement; and

     WHEREAS, Employer desires reasonable protection of its confidential
business and customer information which it has developed over the years at
substantial expense and assurance that Executive will not compete with Employer
for a reasonable period of time after termination of his employment with
Employer, except as otherwise provided herein.

     NOW, THEREFORE, in consideration of these premises, the mutual covenants
and undertakings herein contained, Employer and Employee, each intending to be
legally bound, covenant and agree as follows:

     1.  Employment.  Upon the terms and subject to the conditions set forth in
         ----------
this Agreement, Employer employs Executive as its Executive Vice President and
Chief Operating Officer, and Executive hereby accepts such employment.

     2.  Position and Duties.  Executive agrees to serve as the Executive Vice
         -------------------
President and Chief Operating Officer of Employer and to perform such duties in
that office as may reasonably be assigned to him by the Board of Directors of
the Company (the "Board") or by the Chief Executive Officer; provided, however,
                                                             --------  -------
that such duties shall be of the same character as those generally associated
with the office held by Executive.  Employer shall not, without the written
consent of Executive, relocate or transfer Executive
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to a location other than a location within the geographic boundaries of the
State of Georgia. During the term of this Agreement, Executive agrees that he
will serve Employer faithfully and to the best of his ability and that he will
devote his full business time, attention and skills to Employer's business;
provided, however, that the foregoing shall not be deemed to restrict Executive
--------  -------
from devoting a reasonable amount of time and attention to the management of his
personal affairs and investments, so long as such activities do not interfere
with the responsible performance of Executive's duties hereunder.

     3.  Term.  The term of this Agreement shall begin on the date hereof (the
         ----
"Effective Date") and, unless otherwise earlier terminated pursuant to Section 8
hereof, shall end on the date which is two (2) years following the Effective
Date (hereinafter referred to as the "Initial Term").  The Initial Term shall be
extended automatically for an additional year (each an "Additional Term") on the
last day of the Initial Term or each Additional Term hereof unless either party
hereto gives written notice to the other party not to so extend within ninety
(90) days prior to the expiration of the Initial Term or any subsequent
Additional Term, as the case may be, in which case no further extension shall
occur and the term of this Agreement shall end at the end of the Initial Term or
the Additional Term during which such notice not to so extend was given;
provided, however, that, notwithstanding any notice by Employer not to extend,
--------  -------
the term of this Agreement shall not expire prior to the expiration of twelve
(12) months after the occurrence of a Change of Control (as hereinafter
defined); and provided further, however, that this Agreement shall automatically
              -------- -------  -------
terminate (and the Initial Term or any Additional Term shall thereupon end)
without notice when Executive attains 65 years of age.

     4.  Compensation.
         ------------

     (A) Executive shall receive an annual salary of ONE HUNDRED EIGHTY
THOUSAND DOLLARS ($180,000) ("Base Compensation") payable at regular intervals
in accordance with Employer's normal payroll practices now or hereafter in
effect.  Employer may consider and declare from time to time increases in the
salary it pays Executive and thereby increase the Base Compensation.  Prior to
(but not after) a Change of Control, Employer may also declare decreases in the
salary it pays Executive if the operating results of Employer are significantly
less favorable than those for its immediately preceding fiscal year, and
Employer makes similar decreases in the salary it pays to other executive
officers of Employer; provided, however, that Employer shall not be permitted to
                      --------  -------
decrease Executive's annual salary below $180,000 during the Initial Term
hereof.  After a Change of Control, Employer shall consider and declare salary
increases based upon the following standards:

         (1) Inflation;

         (2) Adjustments to the salaries of other senior management personnel;
     and

         (3) Past performance of Executive and the contribution which Executive
     makes to the business and profits of Employer.

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Any and all increases or decreases in Executive's salary pursuant to this
Section 4(A) shall cause the level of Base Compensation to be increased or
decreased by the amount of each such increase or decrease for purposes of this
Agreement.  The increased or decreased level of Base Compensation as provided in
this Section 4(A) shall become the level of Base Compensation for the remainder
of the Initial Term or any Additional Term until there is a further increase or
decrease in Base Compensation as provided herein.

     (B) In addition to his Base Compensation, Executive shall be awarded, on a
pro-rata basis for Executive's employment during calendar year 1999 and for each
calendar year thereafter during the Initial Term or any Additional Term
hereunder, an annual bonus (an "Annual Bonus") either pursuant to a bonus or
incentive plan of Employer or otherwise on terms no less favorable than those
awarded to other executive officers of Employer.

     5.  Other Benefits.
         --------------

     (A) So long as Executive is employed by Employer pursuant to this
Agreement, he shall be included as a participant in all present and future
employee benefit, retirement and compensation plans of Employer generally
available to its employees, consistent with his Base Compensation and his
position as Executive Vice President and Chief Operating Officer, including,
without limitation, Employer's Money Purchase Pension Plan and 401(k) Profit
Sharing Plan, and Executive and his dependents shall be included in Employer's
hospitalization, major medical, disability and group life insurance plans.  Each
of the above benefits shall continue in effect on terms no less favorable than
those for other executive officers of Employer's banking subsidiaries in effect
as of the date hereof (as permitted by law) during the Initial Term or any
Additional Term hereof (1) unless prior to a Change of Control, the operating
results of Employer are significantly less favorable than those for its
immediately preceding fiscal year, or (2) unless (either before or after a
Change of Control) (a) changes in the accounting or tax treatment of such plans
would materially adversely affect Employer's operating results or financial
condition, and (b) the Board concludes that modifications to such plans need to
be made to avoid such adverse effects.

     6.  Expenses.  So long as Executive is employed by Employer pursuant to
         --------
this Agreement, Executive shall receive reimbursement from Employer for all
reasonable business expenses incurred in the course of his employment by
Employer upon proper submission to Employer of written vouchers and statements
for reimbursement.  In addition, Employer shall (a) provide to Executive an
automobile and pay for all costs associated therewith during the Initial Term
and any Additional Term hereof, and (b) reimburse Executive for all mileage
driven by Executive in his personal automobile in connection with his duties
hereunder in accordance with Employer's mileage reimbursement policy as in
effect from time to time.  Employer shall also use its best efforts to provide
to Executive a country club membership for business and personal use and shall
pay for all initiation fees and monthly dues related thereto; provided, however,
                                                              --------  -------
that, if such membership is not already owned by Executive as of the date
hereof, then such membership shall be and remain the sole property of Employer.

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     7.  Vacation.  For the remainder of calendar year 1999, Executive shall be
         --------
entitled to three (3) weeks paid vacation pro-rated for the portion of the
calendar year during which Executive is retained hereunder.  Beginning with
calendar year 2000, Executive shall be entitled to three (3) weeks paid vacation
during each calendar year of Executive's employment hereunder.

     8.  Termination.  Subject to the respective continuing obligations of the
         -----------
parties hereto, including, without limitation, those set forth in Subsections
10(A), 10(B), 10(C) and 10(D) hereof, Executive's employment by Employer
hereunder may be terminated prior to the expiration of the Initial Term or any
Additional Term hereof as follows:

     (A) Employer, by action of the Board and upon written notice to Executive,
may terminate Executive's employment with Employer immediately for cause.  For
purposes of this Subsection 8(A), "cause" for termination of Executive's
employment shall exist (a) if Executive is convicted of (from which no appeal
may be taken), or pleads guilty to, any act of fraud, misappropriation or
embezzlement, or any felony, (b) if, in the determination of the Board,
Executive has engaged in gross or willful misconduct materially damaging to the
business of Employer (it being understood, however, that neither conduct
pursuant to Executive's exercise of his good faith business judgment nor
unintentional physical damage to any property of Employer by Executive shall be
a ground for such a determination by the Board), or (c) if Executive has failed,
without reasonable cause, to follow reasonable written instructions of the Board
or the Chief Executive Officer of Employer consistent with Executive's position
as Executive Vice President and Chief Operating Officer of Employer and, after
written notice from Employer of such failure, Executive at any time thereafter
again so fails.

     (B) Executive, by written notice to Employer, may terminate his employment
with Employer immediately for good reason.  For purposes of this Subsection
8(B), "good reason" for termination shall mean a good faith determination by
Executive, in Executive's sole and absolute judgment, that any one or more of
the following events has occurred, without Executive's express written consent:

         (1) after a Change of Control, a change in Executive's reporting
     responsibilities, titles or offices as in effect immediately prior to the
     Change of Control, or any removal of the Executive from, or any failure to
     re-elect the Executive to, any of Executive's positions that Executive held
     immediately prior to the Change of Control, which has the effect of
     diminishing Executive's responsibility or authority;

         (2) after a Change of Control, a reduction by Employer in Executive's
     Base Compensation as in effect immediately prior to the Change of Control
     or as the same may be increased from time to time or a change in the
     eligibility requirements or performance criteria under any bonus, incentive
     or compensation plan, program or arrangement under which Executive is
     covered immediately prior to the Change of

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     Control which adversely affects Executive;

         (3) at the time of a Change of Control, Employer requires Executive to
     be based anywhere other than a job location within the geographic
     boundaries of the State of Georgia;

         (4) after a Change of Control and without replacement by a plan
     providing benefits to Executive substantially equal to or greater than
     those discontinued, the failure by Employer to continue in effect, within
     its maximum stated term, any pension, bonus, incentive, stock ownership,
     purchase, option, life insurance, health, accident, disability, or any
     other employee benefit plan, program or arrangement in which Executive is
     participating at the time of the Change of Control, or the taking of any
     action by Employer after a Change of Control that would adversely affect
     Executive's participation or materially reduce Executive's benefits under
     any of such plans;

         (5) after a Change of Control, the taking of any action by Employer
     that would materially adversely affect the physical conditions existing at
     the time of the Change of Control in or under which Executive performs his
     employment duties, provided that Employer may take action with respect to
     such conditions after a Change of Control so long as such conditions are at
     least commensurate with the conditions in or under which an officer of
     Executive's status would customarily perform his employment duties; or

         (6) after a Change of Control, a material change in the fundamental
     business philosophy, direction, and precepts of Employer and its
     subsidiaries, considered as a whole, as the same existed prior to the
     Change of Control.

Any event described in this Subsection 8(B)(1) through (6) which occurs prior to
a Change of Control but which Executive reasonably demonstrates (x) was at the
request of a third party who has indicated an intention, or taken steps
reasonably calculated, to effect a Change of Control or (y) otherwise arose in
connection with, or in anticipation of, a Change of Control which actually
occurs, shall constitute good reason for purposes hereof, notwithstanding that
it occurred prior to a Change of Control.

     (C) Executive, upon ninety (90) days written notice to Employer, may
terminate his employment with Employer without good reason.

     (D) Executive's employment with Employer shall terminate in the event of
Executive's death or disability.  For purposes of this Agreement, "disability"
shall be defined as Executive's inability by reason of illness or other physical
or mental incapacity to perform the duties required by his employment for any
consecutive one hundred eighty (180) day period.

     (E) A "Change of Control" shall mean any of the following events:

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         (1) the merger or consolidation of Employer with, or the sale of all or
     substantially all of the assets of Employer to, any person or entity or
     group of associated persons or entities;

         (2)  the direct or indirect beneficial ownership, in the aggregate, of
     securities of Employer representing twenty-five percent (25%) or more of
     the total combined voting power of Employer's then issued and outstanding
     securities by any person or entity, or group of associated persons or
     entities acting in concert, not affiliated (within the meaning of the
     Securities Act of 1933, as amended) with Employer as of the date hereof;
     provided, however, that the Board may, at any time and in its sole
     --------  -------
     discretion, increase the ownership percentage threshold of this Subsection
     8(E)(2) to an amount not exceeding forty percent (40%);

         (3)  the shareholders of Employer approve any plan or proposal for the
     liquidation or dissolution of the Employer; or

         (4)  a change in the composition of the Board at any time during any
     consecutive twenty-four (24) month period such that the "Continuity
     Directors" cease for any reason to constitute at least a seventy percent
     (70%) majority of the Board.  For purposes of this Agreement, "Continuity
     Directors" means those members of the Board who either:

             (a) were directors at the beginning of such consecutive twenty-four
         (24) month period; or

             (b) were elected by, or on the nomination or recommendation of, at
         least a two-thirds (2/3) majority of the Board.

     9.  Compensation Upon Termination.  In the event of termination of
         -----------------------------
Executive's employment with Employer pursuant to Section 8 hereof, compensation
shall continue to be paid by Employer to Executive as follows:

     (A) In the event of a termination pursuant to Subsection 8(A) or Subsection
8(C) hereof, compensation provided for herein (including Base Compensation and
an Annual Bonus) shall continue to be paid, and Executive shall continue to
participate in the employee benefit, retirement, compensation plans and other
perquisites as provided in Section 5 hereof, through and including the Date of
Termination (as hereinafter defined) specified in the Notice of Termination (as
hereinafter defined).  Any benefits payable under insurance, health, retirement
and bonus plans as a result of Executive's participation in such plans through
the Date of Termination specified in the Notice of Termination shall be paid
when due under such plans.

     (B) In the event of a termination pursuant to Subsection 8(B) hereof,
compensation provided for herein (including Base Compensation and an Annual
Bonus) shall continue to

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be paid, and Executive shall continue to participate in the employee benefit,
retirement, compensation plans and other perquisites as provided in Section 5
hereof, through the Date of Termination specified in the Notice of Termination,
and any benefits payable under insurance, health, retirement and bonus plans as
a result of Executive's participation in such plans through the Date of
Termination specified in the Notice of Termination shall be paid when due under
those plans. In addition, if the event of termination pursuant to Subsection
8(B) hereof occurs (x) after the Initial Term and (y) within twelve (12) months
after the date of a Change of Control, then, subject to the terms of Section 12
hereof, (1) Executive shall be entitled to continue to receive from Employer for
three (3) additional 12-month periods his Base Compensation at the rates in
effect at the time of termination plus an Annual Bonus in an amount equal to at
least forty percent (40%) of such Base Compensation as of the date of the event
of termination, payable in accordance with Employer's standard payment practices
then existing; (2) Executive shall be entitled to continue to participate for
three (3) additional 12-month periods in each employee welfare benefit plan (as
such term is defined in the Employment Retirement Income Security Act of 1974,
as amended) in which Executive was entitled to participate immediately prior to
the date of his termination, unless an essentially equivalent and no less
favorable benefit is provided by a subsequent employer of Executive, provided
that if the terms of any such employee welfare benefit plan or applicable laws
do not permit continued participation by Executive, Employer will arrange to
provide to Executive a benefit substantially similar to, and no less favorable
than, the benefit he was entitled to receive under such plan at the end of the
period of coverage; (3) Employer shall contribute the maximum contributions
allowable under Employer's Money Purchase Pension Plan and 401(k) Profit Sharing
Plan, or any successor plans thereto, for the benefit of Executive; and (4)
Executive shall be entitled to receive payment from Employer for reasonable
relocation expenses if Executive relocates within five hundred (500) miles of
Moultrie, Georgia if such relocation occurs within one hundred eighty (180) days
after the Date of Termination specified in the Notice of Termination.

     (C) In the event of a termination pursuant to Subsection 8(D) hereof,
compensation provided for herein (including Base Compensation and an Annual
Bonus) shall continue to be paid, and Executive shall continue to participate in
the employee benefit, retirement, and compensation plans and other perquisites
as provided in Section 5 hereof, (1) in the event of Executive's death, through
the date of death, or (2) in the event of Executive's disability, through the
Date of Termination specified in the Notice of Termination. Any benefits payable
under insurance, health, retirement and bonus plans as a result of Executive's
participation in such plans through the date of death or the Date of Termination
specified in the Notice of Termination, as the case may be, shall be paid when
due under those plans.

     (D) Employer will permit Executive or his personal representative(s) or
heirs, during a period of ninety (90) days following the Date of Termination of
Executive's employment by Employer (as specified in the Notice of Termination)
for the reasons set forth in Subsection 8(B) hereof, to purchase all of the
stock of Employer that would be issuable under all outstanding stock options, if
any, previously granted by Employer to Executive under any Employer stock option
plan then in effect, whether or not such options are then

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exercisable, at a cash purchase price equal to the purchase price as set forth
in such outstanding stock options.

     10. Restrictive Covenants.
         ---------------------

     (A) Executive acknowledges that (1) Employer has separately bargained and
paid additional consideration for the restrictive covenants herein; and (2)
Employer will provide certain benefits to Executive hereunder in reliance on
such covenants in view of the unique and essential nature of the services
Executive will perform on behalf of Employer and the irreparable injury that
would befall Employer should Executive breach such covenants.

     (B) Executive further acknowledges that his services are of a special,
unique and extraordinary character and that his position with Employer will
place him in a position of confidence and trust with employees of Employer and
its subsidiaries and affiliates and with Employer's other constituencies and
will allow him access to confidential information concerning Employer and its
subsidiaries and affiliates.

     (C) Executive further acknowledges that the type and periods of
restrictions imposed by the covenants in this Section 10 are fair and reasonable
and that such restrictions will not prevent Executive from earning a livelihood.

     (D) Having acknowledged the foregoing, Executive covenants and agrees with
Employer as follows:

         (1) While Executive is employed by Employer and for a period of two (2)
     years after termination of such employment for any reason or for no reason,
     Executive shall not divulge or furnish any trade secrets (as defined in
     (S)10-1-761 of the Official Code of Georgia Annotated) of Employer or any
     confidential information acquired by him while employed by Employer
     concerning the policies, plans, procedures or customers of Employer to any
     person, firm or corporation, other than Employer or upon its written
     request, or use any such trade secret or confidential information (which
     shall at all times remain the property of Employer) directly or indirectly
     for Executive's own benefit or for the benefit of any person, firm or
     corporation other than Employer.

         (2) For a period of two (2) years after termination of Executive's
     employment (a) by Employer for any of the reasons set forth in Subsection
     8(A) of this Agreement, or (b) by Executive pursuant to Section 3 or
     Subsection 8(C) of this Agreement, Executive shall not directly or
     indirectly provide banking or bank-related services to, or solicit the
     banking or bank-related business of, any customer of Employer or any of its
     subsidiaries at the time of such provision of services or solicitation
     which Executive served either alone or with others while employed by
     Employer in any city, town, borough, township, village or other place in
     which Executive performed services for Employer while employed by it, or
     assist any actual or potential competitor of Employer or any of its
     subsidiaries to provide banking or

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     bank-related services to or solicit any such customer's banking or bank-
     related business in any such place.

         (3) While Executive is employed by Employer and for a period of two
     (2) years after termination of Executive's employment (a) by Employer for
     any of the reasons set forth in Subsection 8(A) of this Agreement, or (b)
     by Executive pursuant to Section 3 or Subsection 8(C) of this Agreement,
     Executive shall not, directly or indirectly, as principal, agent, or
     trustee, or through the agency of any corporation, partnership, trade
     association, agent or agency, engage in any banking or bank-related
     business or venture which competes with the business of Employer as
     conducted during Executive's employment by Employer within the geographic
     limitations of the State of Georgia.

         (4) If Executive's employment by Employer is terminated for reasons
     other than those set forth in Subsection 8(B) of this Agreement, and
     Executive subsequently (a) provides banking or bank-related services to, or
     solicits the banking or bank-related business of, any customer of Employer
     or any of its subsidiaries at the time of such provision of services or
     solicitation which Executive served either alone or with others while
     employed by Employer in any city, town, borough, township, village or other
     place in which Executive performed services for Employer while employed by
     it, or assists any actual or potential competitor of Employer or any of its
     subsidiaries to provide banking or bank-related services to or solicit any
     such customer's banking or bank-related business in any such place, or (b)
     engages, directly or indirectly, as principal, agent, or trustee, or
     through the agency of any corporation, partnership, trade association,
     agent or agency, with any banking or bank-related business or venture which
     competes with the business of Employer as conducted during Executive's
     employment by Employer within the geographic limitations of the State of
     Georgia, then Employer may immediately terminate and shall not be required
     to continue on behalf of the Executive or his dependents and beneficiaries
     any compensation provided for herein (including Base Compensation and any
     Annual Bonus) and any employee benefit, retirement and compensation plans
     and other prerequisites provided in Section 5 hereof other than those
     benefits that Employer may be required to maintain for Executive under
     applicable federal or state law.

         (5) If Executive's employment by Employer is terminated for any of the
     reasons set forth in Subsection 8(B) of this Agreement, then Executive may
     thereafter (a) provide banking or bank-related services to, or solicit the
     banking or bank-related business of, any customer of Employer or any of its
     subsidiaries at the time of such provision of services or solicitation
     which Executive served either alone or with others while employed by
     Employer in any location within the geographic limitations of the State of
     Georgia, or assist any actual or potential competitor of Employer or any of
     its subsidiaries to provide banking or bank-related services to or solicit
     any such customer's banking or bank-related business in any such place, or
     (b) engage, directly or indirectly, as principal, agent or trustee, or
     through the agency of any

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     corporation, partnership, trade association, agent or agency, with any
     banking or bank-related business or venture which competes with the
     business of Employer as conducted during Executive's employment by Employer
     within the geographic limitations of the State of Georgia; provided,
                                                                --------
     however, that if Executive engages in any such activities after a
     -------
     termination under Subsection 8(B) hereof, then Employer may immediately
     terminate and shall not be required to continue on behalf of the Employee
     or his dependents and beneficiaries any compensation provided for herein
     (including, without limitation, Base Compensation, any Annual Bonus and any
     payments pursuant to Subsection 9(B) hereof) and any employee benefit,
     retirement and compensation plans and other perquisities provided in
     Section 5 hereof other than those benefits that Employer may be required to
     maintain for Executive under applicable federal or state law.

         (6) If Executive's employment by Employer is terminated for any reason
     or for no reason, Executive will turn over immediately thereafter to
     Employer all business correspondence, letters, papers, reports, customer
     lists, financial statements, credit reports or other confidential
     information or documents of Employer or its affiliates in the possession or
     control of Executive, all of which writings are and will continue to be the
     sole and exclusive property of Employer or its affiliates, as the case may
     be.

Executive acknowledges that irreparable loss and injury would result to Employer
upon the breach of any of the covenants contained in this Section 10 and that
damages arising out of such breach would be difficult to ascertain.  Executive
hereby agrees that, in addition to all other remedies provided at law or in
equity, Employer may petition and obtain from a court of law or equity, without
the necessity of proving actual damages and without posting any bond or other
security, both temporary and permanent injunctive relief to prevent a breach by
Executive of any covenant contained in this Section 10, and shall be entitled to
an equitable accounting of all earnings, profits and other benefits arising out
of any such breach.  In the event that the provisions of this Section 10 should
ever be deemed to exceed the time, geographic or any other limitations permitted
by applicable law, then such provisions shall be deemed reformed to the maximum
extent permitted thereby.

     11. Notice of Termination and Date of Termination.  Any termination of
         ---------------------------------------------
Executive's employment with Employer as contemplated by Section 8 hereof, except
in the circumstances of Executive's death, shall be communicated by written
notice of termination by the terminating party to the other party hereto (the
"Notice of Termination").  Any Notice of Termination given pursuant to
Subsections 8(A), 8(B) or 8(D) hereof shall indicate the specific provisions of
this Agreement relied upon and shall set forth in reasonable detail the facts
and circumstances claimed to provide a basis for such termination.  For purposes
of this Agreement, "Date of Termination" shall mean:  (A) if Executive's
employment is terminated because of disability, thirty (30) days after Notice of
Termination is given (unless Executive shall have returned to the performance of
Executive's duties on a full-time basis during such thirty (30) day period); or
(B) if Executive's employment is terminated for cause, good reason or pursuant
to Subsection 8(C) hereof, the date specified in the Notice of Termination;

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provided, however, that if within thirty (30) days after any such Notice of
--------  -------
Termination is given, the party receiving such Notice of Termination notifies
the other party that a dispute exists concerning the termination, the Date of
Termination shall be the date on which the dispute is finally resolved, either
by mutual agreement of the parties or by a final judgment, order or decree of a
court of competent jurisdiction (the time for appeal therefrom having expired
and no appeal having been perfected).

     12. Excess Parachute Payments and One Million Dollar Deduction Limit.
         ----------------------------------------------------------------

     (A) Notwithstanding anything contained herein to the contrary, if any
portion of the payments and benefits provided hereunder and benefits provided
to, or for the benefit of, Executive under any other plan or agreement of
Employer (such payments or benefits are collectively referred to as the
"Payments") would be subject to the excise tax (the "Excise Tax") imposed under
Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), or
would be nondeductible by Employer pursuant to Section 280G of the Code, the
Payments shall be reduced (but not below zero) if and to the extent necessary so
that no portion of any Payment to be made or benefit to be provided to Executive
shall be subject to the Excise Tax or shall be nondeductible by Employer
pursuant to Section 280G of the Code (such reduced amount is hereinafter
referred to as the "Limited Payment Amount").  Unless Executive shall have given
prior written notice specifying a different order to Employer to effectuate the
Limited Payment Amount, Employer shall reduce or eliminate the Payments, by
first reducing or eliminating those payments or benefits which are not payable
in cash and then by reducing or eliminating cash payments, in each case in
reverse order beginning with payments or benefits which are to be paid the
farthest in time from the Determination (as hereinafter defined).  Any notice
given by Executive pursuant to the preceding sentence shall take precedence over
the provisions of any other plan, arrangement or agreement governing Executive's
rights and entitlements to any benefits or compensation.

     (B) An initial determination as to whether the Payments shall be reduced to
the Limited Payment Amount pursuant to the Code and the amount of such Limited
Payment Amount shall be made by an accounting firm at Employer's expense
selected by Employer which is designated as one of the six largest accounting
firms in the United States (the "Accounting Firm").  The Accounting Firm shall
provide its determination (the "Determination"), together with detailed
supporting calculations and documentation to Employer and Executive within
thirty (30) days of the Termination Date, if applicable, and if the Accounting
Firm determines that no Excise Tax is payable by Executive with respect to a
Payment or Payments, it shall furnish Executive with an opinion reasonably
acceptable to Executive that no Excise Tax will be imposed with respect to any
such Payment or Payments.  Within ten (10) days of the delivery of the
Determination to Executive, Executive shall have the right to dispute the
Determination (the "Dispute").  If there is no Dispute, the Determination shall
be binding, final and conclusive upon Employer and Executive subject to the
application of Subsection 12(C) below.

     (C) As a result of the uncertainty in the application of Sections 4999 and
280G of the Code, it is possible that the Payments to be made to, or provided
for the benefit of,

                                       11
<PAGE>

Executive either have been made or will not be made by Employer which, in either
case, will be inconsistent with the limitations provided in Section 12(A) hereof
(hereinafter referred to as an "Excess Payment" or "Underpayment",
respectively). If it is established pursuant to a final determination of a court
or an Internal Revenue Service (the "IRS") proceeding which has been finally and
conclusively resolved that an Excess Payment has been made, such Excess Payment
shall be deemed for all purposes to be a loan to Executive made on the date
Executive received the Excess Payment, and Executive shall repay the Excess
Payment to Employer on demand (but not less than ten (10) days after written
notice is received by Executive), together with interest on the Excess Payment
at the "Applicable Federal Rate" (as defined in Section 1274(d) of the Code)
from the date of Executive's receipt of such Excess Payment until the date of
such repayment. In the event that it is determined (1) by the Accounting Firm,
Employer (which shall include the position taken by Employer, or together with
its consolidated group, on its federal income tax return) or the IRS; (2)
pursuant to a determination by a court; or (3) upon the resolution of the
Dispute to Executive's satisfaction, that an Underpayment has occurred, Employer
shall pay an amount equal to the Underpayment to Executive within ten (10) days
of such determination or resolution, together with interest on such amount at
the Applicable Federal Rate from the date such amount would have been paid to
Executive until the date of payment.

     (D) Notwithstanding anything contained herein to the contrary, if any
portion of the Payments would be nondeductible by Employer pursuant to Section
162(m) of the Code, the Payments to be made to Executive in any taxable year of
Employer shall be reduced (but not below zero) if and to the extent necessary so
that no portion of any Payment to be made or benefit to be provided to Executive
in such taxable year of Employer shall be nondeductible by Employer pursuant to
Section 162(m) of the Code.  The amount by which any Payment is reduced pursuant
to the immediately preceding sentence, together with interest thereon at the
Applicable Federal Rate, shall be paid by Employer to Executive on or before the
fifth business day of the immediately succeeding taxable year of Employer,
subject to the application of the limitations of the immediately preceding
sentence and this Section 12.  Unless Executive shall have given prior written
notice specifying a different order to Employer to effectuate this Section 12,
Employer shall reduce or eliminate the Payments in any one taxable year of
Employer by first reducing or eliminating those payments or benefits which are
not payable in cash and then by reducing or eliminating cash payments, in each
case in reverse order beginning with payments or benefits which are to be paid
the farthest in time from the Section 162(m) Determination (as hereinafter
defined).  Any notice given by Executive pursuant to the immediately preceding
sentence shall take precedence over the provisions of any other plan,
arrangement or agreement governing Executive's rights and entitlements to any
benefits or compensation.

     (E) The determination as to whether the Payments shall be reduced pursuant
to Section 12(D) hereof and the amount of the Payments to be made in each
taxable year after the application of Section 12(D) hereof shall be made by the
Accounting Firm at Employer's expense.  The Accounting Firm shall provide its
determination (the "Section 162(m) Determination"), together with detailed
supporting calculations and documentation to Employer and Executive within
thirty (30) days of the termination date specified in the

                                       12
<PAGE>

Notice of Termination. The Section 162(m) Determination shall be binding, final
and conclusive upon Employer and Executive.

     13. Payments After Death.  Should Executive die after termination of his
         --------------------
employment with Employer while any amounts are payable to him hereunder, this
Agreement shall inure to the benefit of and be enforceable by Executive's
executors, administrators, heirs, distributees, devisees and legatees, and all
amounts payable hereunder shall be paid in accordance with the terms of this
Agreement to Executive's devisee, legatee or other designee or, if there is no
such designee, to his estate.

     14. Full Settlement and Legal Expenses.  The respective obligations of the
         ----------------------------------
parties hereto to make payments or otherwise to perform hereunder shall not be
affected by any rights of set-off, counterclaim, recoupment, defense or other
claim, right or action which one party hereto may have against the other party
hereto.  In no event shall Executive be obligated to seek other employment or
take any other action by way of mitigation of the amounts which may be payable
to Executive by Employer hereunder.  If any legal action, proceeding in
arbitration or other proceeding is brought for the enforcement of this
Agreement, or because of any alleged dispute, breach, default or
misrepresentation in connection with any provision of this Agreement, the
successful or prevailing party or parties shall be entitled to recover
reasonable attorneys' fees, court costs and all expenses incurred in that action
or proceeding, even if not taxable as court costs, plus in each case interest at
the Applicable Federal Rate, in addition to any other relief to which such party
or parties may be entitled.

     15. Notices.  For purposes of this Agreement, notices and all other
         -------
communications provided for herein shall be in writing and shall be deemed to
have been given when delivered or mailed by United States registered or
certified mail, return receipt requested, postage prepaid, addressed as follows:

     If to Executive:    Mark D. Thomas
                         109 Wentworth Avenue
                         Nashville, Tennessee  37215

     If to Employer:     ABC Bancorp
                         312 First Street, S.E.
                         Moultrie, Georgia  31768

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

     16. Governing Law. The validity, interpretation, and performance of this
         -------------
Agreement shall be governed by the laws of the State of Georgia without giving
effect to the conflicts of laws principles thereof.

                                       13
<PAGE>

     17. Successors. Employer shall require any successor (whether direct or
         ----------
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of Employer, by agreement in form
and substance reasonably satisfactory to Executive, to expressly assume and
agree to perform this Agreement in the same manner and same extent that Employer
would be required to perform it if no such succession had taken place. Failure
of Employer to obtain such agreement prior to the effectiveness of any such
succession shall be a material intentional breach of this Agreement and shall
entitle Executive to terminate his employment with Employer for good reason
pursuant to Subsection 8(B) hereof. As used in this Agreement, "Employer" shall
mean Employer as hereinbefore defined and any successor to its business or
assets as aforesaid.

     18. Modification. No provision of this Agreement may be modified, waived or
         ------------
discharged unless such waiver, modification or discharge is agreed to in writing
signed by Executive and Employer. No waiver by either party hereto at any time
of any breach by the other party hereto of, or compliance with, any condition or
provision of this Agreement to be performed by such other party shall be deemed
a waiver of dissimilar provisions or conditions at the same or any prior
subsequent time. No agreements or representation, oral or otherwise, express or
implied, with respect to the subject matter hereof have been made by either
party which are not set forth expressly in this Agreement.

     19. Severability. The invalidity or unenforceability of any provisions of
         ------------
this Agreement shall not affect the validity or enforceability of any other
provisions of this Agreement which shall remain in full force and effect.

     20. Counterparts. This Agreement may be executed in one or more
         ------------
counterparts, each of which shall be deemed an original, and all of which
together shall constitute one and the same agreement.

     21. Assignment. This Agreement is personal in nature and neither party
         ----------
hereto shall, without the consent of the other, assign or transfer this
Agreement or any rights or obligations hereunder except as provided in Sections
13 and 17 above. Without limiting the foregoing, Executive's right to receive
compensation hereunder shall not be assignable or transferable, whether by
pledge, creation of a security interest or otherwise, other than a transfer by
his will or by the laws of descent or distribution as set forth in Section 13
hereof, and in the event of any attempted assignment or transfer contrary to
this Section 21, Employer shall have no liability to pay any amounts so
attempted to be assigned or transferred.

     22. Entire Agreement. This Agreement constitutes the entire agreement
         ----------------
between the parties hereto and supersedes all prior agreements, if any,
understandings and arrangements, oral or written, between the parties hereto
with respect to the subject matter hereof.

                            [Signatures Next Page]

                                       14
<PAGE>

     IN WITNESS WHEREOF, Executive has executed, sealed and delivered this
Agreement, and Employer has caused this Agreement to be executed, sealed and
delivered, all as of the day and year first above set forth.

                              ABC BANCORP

                              By:  /s/ Kenneth J. Hunnicutt
                                   -----------------------------------
[Corporate Seal]                   Kenneth J. Hunnicutt, President and
                                   Chief Executive Officer

Attest:  /s/ Sara R. Hall
         -----------------------
         Sara R. Hall, Secretary

                                   /s/ Mark Thomas                 (SEAL)
                                   -------------------------------
                                   MARK D. THOMAS

                                       15<PAGE>

                                                                   Exhibit 10.20

               SEVERANCE PROTECTION AND NON-COMPETITION AGREEMENT
               --------------------------------------------------

  THIS SEVERANCE PROTECTION AND NON-COMPETITION AGREEMENT (the "Agreement") made
as of November 1, 1998, by and between ABC BANCORP (the "Company"), a Georgia
corporation, and W. EDWIN LANE, JR. (the "Executive"), an individual resident of
the State of Georgia.

  WHEREAS, the Board of Directors of the Company (the "Board") has determined
that it is essential and in the best interest of the Company and its
shareholders to retain the services of the Executive in the event of a threat or
occurrence of a Change in Control (as hereinafter defined) and to ensure his
continued dedication and efforts in such event without undue concern for his
personal financial and employment security;

  WHEREAS, in order to induce the Executive to remain in the employ of the
Company in the event of a threat or the occurrence of a Change in Control, the
Company desires to enter into this Agreement with the Executive to provide the
Executive with certain benefits in the event his employment is terminated as a
result of, or in connection with, a Change in Control and to provide the
Executive with certain other benefits whether or not the Executive's employment
is terminated; and

  WHEREAS, in consideration for the benefits provided to the Executive hereunder
and as an inducement to the Company providing such benefits, the Executive
agrees that it is reasonable and fair to enter into certain restrictive
covenants as hereinafter set forth.

  NOW, THEREFORE, in consideration of the respective agreements of the parties
contained herein, it is agreed as follows:

  1.  Term of Agreement.  This Agreement shall commence as of November 1, 1998
      -----------------
and shall continue in effect until November 1, 1999; provided, however, that
                                                     --------  -------
commencing on November 1, 1999, and on each November 1 thereafter, the term of
this Agreement shall automatically be extended for one (1) year unless either
the Company or the Executive shall have given written notice to the other at
least ninety (90) days prior thereto that the term of this Agreement shall not
be so extended; and provided, further, however, that notwithstanding any such
                    --------  -------  -------
notice by the Company not to extend, the term of this Agreement shall not expire
prior to the expiration of twelve (12) months after the occurrence of a Change
in Control.

  2.  Definitions.
      -----------

      2.1.  Accrued Compensation.  For purposes of this Agreement, "Accrued
            --------------------
Compensation" shall mean an amount which shall include all amounts earned or
accrued through the "Termination Date" (as hereinafter defined) but not paid as
of the Termination Date, including, without limitation, (i) base salary, (ii)
reimbursement for reasonable and necessary expenses incurred by the Executive on
behalf of the Company during the period ending on the Termination
<PAGE>

Date, (iii) vacation pay, and (iv) bonuses and incentive compensation (other
than the "Pro Rata Bonus" (as hereinafter defined)).

      2.2.  Base Amount. For purposes of this Agreement, "Base Amount" shall
            -----------
mean the greater of the Executive's annual base salary (a) at the rate in effect
on the Termination Date or (b) at the highest rate in effect at any time during
the ninety (90) day period prior to the Change in Control, and shall include all
amounts of his base salary that are deferred under the qualified and non-
qualified employee benefit plans of the Company or any other agreement or
arrangement.

      2.3.  Bonus Amount. For purposes of this Agreement, "Bonus Amount" shall
            ------------
mean the average of the annual bonuses paid or payable to the Executive during
the three (3) full fiscal years ended prior to the Termination Date or, if
greater, the three full fiscal years ended prior to the Change in Control (or,
in each case, such lesser period for which annual bonuses were paid or payable
to the Executive).

      2.4.  Cause. For purposes of this Agreement, a termination of employment
            -----
is for "Cause" if the Executive has been convicted of a felony or a felony
prosecution has been brought against the Executive or if the termination is
evidenced by a resolution adopted in good faith by two-thirds of the Board that
the Executive (a) intentionally and continually failed substantially to perform
his reasonably assigned duties with the Company (other than a failure resulting
from the Executive's incapacity due to physical or mental illness or from the
Executive's assignment of duties that would constitute "Good Reason" as
hereinafter defined) which failure continued for a period of at least thirty
(30) days after a written notice of demand for substantial performance has been
delivered to the Executive specifying the manner in which the Executive has
failed substantially to perform, or (b) intentionally engaged in conduct which
is demonstrably and materially injurious to the Company; provided, however, that
                                                         --------  -------
(i) where the Executive has been terminated for Cause because a felony
prosecution has been brought against him and no conviction or plea of guilty or
plea of nolo contendere or its equivalent results therefrom, then said
termination shall no longer be deemed to have been for Cause and the Executive
shall be entitled to all the benefits provided by Section 3.1(b) hereof from and
after the date on which the prosecution of the Executive has been dismissed or a
judgement of acquittal has been entered, whichever shall first occur; and (ii)
no termination of the Executive's employment shall be for Cause as set forth in
clause (b) above until (x) there shall have been delivered to the Executive a
copy of a written notice setting forth that the Executive was guilty of the
conduct set forth in clause (b) and specifying the particulars thereof in
detail, and (y) the Executive shall have been provided an opportunity to be
heard in person by the Board (with the assistance of the Executive's counsel if
the Executive so desires). No act, nor failure to act, on the Executive's part,
shall be considered "intentional" unless the Executive has acted or failed to
act, with a lack of good faith and with a lack of reasonable belief that the
Executive's action or failure to act was in the best interest of the Company.

      2.5.  Change in Control. For purposes of this Agreement, a "Change in
            -----------------
Control" shall have occurred if:

                                       2
<PAGE>

            (a) a majority of the directors of the Company shall be persons
      other than persons: (A) for whose election proxies shall have been
      solicited by the Board, or (B) who are then serving as directors appointed
      by the Board to fill vacancies on the Board caused by death or resignation
      (but not by removal) or to fill newly-created directorships;

            (b) a majority of the outstanding voting power of the Company shall
      have been acquired or beneficially owned (as defined in Rule 13d-3 under
      the Securities Exchange Act of 1934, as amended, or any successor rule
      thereto) by any person (other than the Company, a subsidiary of the
      Company or the Executive) or Group (as defined below), which Group does
      not include the Executive; or

            (c) there shall have occurred:

                (A) a merger or consolidation of the Company with or into
            another corporation (other than (1) a merger or consolidation with a
            subsidiary of the Company or (2) a merger or consolidation in which
            (aa) the holders of voting stock of the Company immediately prior to
            the merger as a class continue to hold immediately after the merger
            at least a majority of all outstanding voting power of the surviving
            or resulting corporation or its parent and (bb) all holders of each
            outstanding class or series of voting stock of the Company
            immediately prior to the merger or consolidation have the right to
            receive substantially the same cash, securities or other property in
            exchange for their voting stock of the Company as all other holders
            of such class or series);

                (B) a statutory exchange of shares of one or more classes or
            series of outstanding voting stock of the Company for cash,
            securities or other property;

                (C) the sale or other disposition of all or substantially all of
            the assets of the Company (in one transaction or a series of
            transactions); or

                (D) the liquidation or dissolution of the Company;

            unless more than twenty-five percent (25%) of the voting stock (or
            the voting equity interest) of the surviving corporation or the
            corporation or other entity acquiring all or substantially all of
            the assets of the Company (in the case of a merger, consolidation or
            disposition of assets) or of the Company or its resulting parent
            corporation (in the case of a statutory share exchange) is
            beneficially owned by the Executive or a Group that includes the
            Executive.

                                       3
<PAGE>

  2.6.   Group.  For purposes of this Agreement, "Group" shall mean any two or
         -----
more persons acting as a partnership, limited partnership, syndicate, or other
group acting in concert for the purpose of acquiring, holding or disposing of
voting stock of the Company.

  2.7.   Company.  For purposes of this Agreement, "Company" shall mean ABC
         -------
Bancorp and shall include each of its subsidiaries and its "Successors and
Assigns" (as hereinafter defined).

  2.8.   Disability.  For purposes of this Agreement, "Disability" shall mean a
         ----------
physical or mental infirmity which impairs the Executive's ability to
substantially perform his duties with the Company for a period of one hundred
eighty (180) consecutive days and the Executive has not returned to his full
time employment prior to the Termination Date as stated in the "Notice of
Termination" (as hereinafter defined).

  2.9.   Good Reason.
         -----------

         2.9.1. For purposes of this Agreement, "Good Reason" shall mean a good
     faith determination by the Executive, in the Executive's sole and absolute
     judgment, that any one or more of the following events has occurred,
     without the Executive's express written consent, after a Change in Control:

            (a) a change in the Executive's reporting responsibilities, titles
         or offices as in effect immediately prior to the Change of Control, or
         any removal of the Executive from, or any failure to re-elect the
         Executive to, any of such positions which has the effect of diminishing
         the Executive's responsibility or authority;

            (b) a reduction by the Company in the Executive's base salary as in
         effect immediately prior to the Change of Control or as the same may be
         increased from time to time or a change in the eligibility requirements
         or performance criteria under any bonus, incentive or compensation
         plan, program or arrangement under which the Executive is covered
         immediately prior to the Change of Control which adversely affects the
         Executive;

            (c) the Company requires the Executive to be based anywhere other
         than within fifty (50) miles of the Executive's job location at the
         time of the Change of Control, provided that if the Executive's job
         location at such time is not within fifty (50) miles of the Company's
         principal executive offices, then the Company may thereafter require
         the Executive to be based within such fifty (50) mile radius without
         such event constituting Good Reason hereunder;

                                       4
<PAGE>

            (d) without replacement by a plan providing benefits to the
         Executive equal to or greater than those discontinued, the failure by
         the Company to continue in effect, within its maximum stated term, any
         pension, bonus, incentive, stock ownership, purchase, option, life
         insurance, health, accident disability, or any other employee benefit
         plan, program or arrangement, in which the Executive is participating
         at the time of the Change of Control, or the taking of any action by
         the Company that would adversely affect the Executive's participation
         or materially reduce the Executive's benefits under any of such plans;

            (e) the taking of any action by the Company that would materially
         adversely affect the physical conditions existing at the time of the
         Change of Control in or under which the Executive performs his
         employment duties, provided that the Company may take action with
         respect to such conditions after a Change in Control so long as such
         conditions are at least commensurate with the conditions in or under
         which an officer of the Executive's status would customarily perform
         his employment duties; or

            (f) a material change in the fundamental business philosophy,
         direction, and precepts of the Company and its subsidiaries, considered
         as a whole, as the same existed prior to the Change of Control.

         2.9.2 Any event described in subsection 2.9.1 (a) through (f) which
     occurs prior to a Change in Control but which the Executive reasonably
     demonstrates (A) was at the request of a third party who has indicated an
     intention, or taken steps reasonably calculated, to effect a Change in
     Control or (B) otherwise arose in connection with, or in anticipation of, a
     Change in Control which actually occurs, shall constitute Good Reason for
     purposes hereof, notwithstanding that it occurred prior to a Change in
     Control.

         2.9.3 The Executive's right to terminate his employment pursuant to
     this Section 2.9 shall not be affected by his incapacity due to physical or
     mental illness.

  2.10.  Notice of Termination.  For purposes of this Agreement, "Notice of
         ---------------------
Termination" shall mean a written notice of termination from the Company,
following a Change in Control, of the Executive's employment which indicates the
specific termination provision in this Agreement relied upon and which sets
forth in reasonable detail the facts and circumstances claimed to provide a
basis for termination of the Executive's employment under the provision so
indicated.

  2.11.  Pro Rata Bonus.  For purposes of this Agreement, "Pro Rata Bonus" shall
         --------------
mean an amount equal to the Bonus Amount multiplied by a fraction the numerator
of which is the number of days in the fiscal year through the Termination Date
and the denominator of which is 365.

                                       5
<PAGE>

  2.12.  Successors and Assigns.  For purposes of this Agreement, "Successors
         ----------------------
and Assigns" shall mean a corporation or other entity acquiring all of
substantially all the assets and business of the Company (including this
Agreement) whether by operation of law or otherwise.

  2.13.  Termination Date.  For purposes of this Agreement, "Termination Date"
         ----------------
shall mean in the case of the Executive's death, his date of death, in the case
of Good Reason, the last day of employment, and in all other cases, the date
specified in the Notice of Termination; provided, however, that if the
                                        --------  -------
Executive's employment is terminated by the Company for Cause or due to
Disability, the date specified in the Notice of Termination shall be at least
thirty (30) days from the date the Notice of Termination is given to the
Executive, provided that in the case of Disability the Executive shall not have
returned to the full-time performance of his duties during such period of at
least thirty (30) days.

  3.     Termination of Employment.
         -------------------------

         3.1.  Severance Benefits.  If, during the term of this Agreement, the
               ------------------
Executive's employment with the Company shall be terminated within twelve (12)
months following a Change in Control, the Executive shall be entitled to the
following compensation and benefits:

               (a) If the Executive's employment with the Company shall be
         terminated (i) by the Company for Cause or Disability, (ii) by reason
         of the Executive's death, or (iii) by the Executive other than for Good
         Reason, the Company shall pay to the Executive the Accrued Compensation
         and, if such termination is by the Company other than for Cause, a Pro
         Rata Bonus.

               (b) If the Executive's employment with the Company shall be
         terminated for any reason other than as specified in Section 3.1(a),
         the Executive shall be entitled to the following:

                   (i) the Company shall pay the Executive all Accrued
               Compensation and a Pro-Rata Bonus;

                   (ii) the Company shall pay the Executive as severance pay and
               in lieu of any further compensation for periods subsequent to the
               Termination Date an amount in cash equal to one times the sum of
               (A) the Base Amount and (B) the Bonus Amount;

                   (iii) for a number of months equal to twelve (12) (the
               "Continuation Period"), the Company shall at its expense continue
               on behalf of the Executive and his dependents and beneficiaries
               the life insurance, disability, medical, dental and
               hospitalization benefits generally provided to the Company's non-
               executive salaried employees at any time during the 90-day period
               prior to the Change in Control or at any time thereafter. The
               Company's obligation hereunder with respect to the foregoing
               benefits shall be limited to the extent that the Executive
               obtains any such benefits pursuant

                                       6
<PAGE>

               to a subsequent employer's benefit plans, in which case the
               Company may reduce the coverage of any benefits it is required to
               provide the Executive hereunder as long as the aggregate
               coverages and benefits of the combined benefit plans is no less
               favorable to the Executive than the coverages and benefits
               required to be provided hereunder. This subsection (iii) shall
               not be interpreted so as to limit any benefits to which the
               Executive or his dependents or beneficiaries may be entitled
               under any of the Company's employee benefit plans, programs or
               practices following the Executive's termination of employment,
               including, without limitation, retiree medical and life insurance
               benefits;

                   (iv) the Company shall pay an amount in cash equal to the
               excess, if any, of (A) the Supplemental Retirement Benefit (as
               defined below) had (w) the Executive remained employed by the
               Company for an additional one (1) complete year of credited
               service, (x) his annual compensation during such period been
               equal to his Base Salary and the Bonus Amount, (y) the Company
               made employer contributions to each defined contribution plan, if
               any, in which the Executive was a participant at the Termination
               Date (in an amount equal to the amount of such contribution for
               the plan year immediately preceding the Termination Date) and (z)
               he been fully (100%) vested in his benefit under each retirement
               plan, if any, in which the Executive was a participant, over (B)
               the lump sum actuarial equivalent of the aggregate retirement
               benefit, if any, the Executive is actually entitled to receive
               under such retirement plans. For purposes of this subsection
               (iv), the "Supplemental Retirement Benefit" shall mean the lump
               sum actuarial equivalent of the aggregate retirement benefit the
               Executive would have been entitled to receive under the Company's
               supplemental and other retirement plans, if any; and

                   (v) the restrictions on any outstanding incentive awards
               (including restricted stock and granted performance shares or
               units) under any incentive plan or arrangement shall lapse and
               such incentive award shall become 100% vested, all stock options
               and stock appreciation rights granted to the Executive shall
               become immediately exercisable and shall become 100% vested, and
               all performance units granted to the Executive shall become 100%
               vested, provided that to the extent that all or any part of any
               such incentive award or stock option or stock appreciation right
               or performance unit is not exercisable or does not vest within
               four (4) years from the Termination Date, then to that extent
               (but only to that extent) there shall be no acceleration of
               vesting or lapse of restrictions under this Section 3.1(b)(v).

               (c) The amounts provided for in Sections 3.1(a) and 3.1(b)(i),
         (ii) and (iv) shall be paid in twelve (12) equal monthly payments
         (without interest) on the first day of each month commencing on the
         first day of the month immediately following Executive's Termination
         Date.

                                       7
<PAGE>

               (d) The Executive shall not be required to mitigate the amount of
         any payment provided for in this Agreement by seeking other employment
         or otherwise and no such payment shall be offset or reduced by the
         amount of any compensation or benefits provided to the Executive in any
         subsequent employment except as provided in Section 3.1(b)(iii).

         3.2   Payments in Lieu of Other Severance Benefits. The severance pay
               --------------------------------------------
and benefits provided for in this Section 3 shall be in lieu of any other
severance or termination pay to which the Executive may be entitled under any
Company severance or termination plan, program, practice or arrangement.

         3.3   Other Compensation and Benefits. The Executive's entitlement to
               -------------------------------
any other compensation or benefits shall be determined in accordance with the
Company's employee benefit plans and other applicable programs, policies and
practices then in effect.

  4.  Notice of Termination.  Following a Change in Control, any purported
      ---------------------
termination of the Executive's employment by the Company shall be communicated
by Notice of Termination to the Executive.  For purposes of this Agreement, no
such purported termination shall be effective without such Notice of
Termination.

  5.  Excess Parachute Payments.
      -------------------------

      5.1  Excise Tax. Notwithstanding anything contained herein to the
           ----------
contrary, if any portion of the payments and benefits provided hereunder and
benefits provided to, or for the benefit of, the Executive under any other plan
or agreement of the Company (such payments or benefits are collectively referred
to as the "Payments") would be subject to the excise tax (the "Excise Tax")
imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the
"Code") or would be nondeductible by the Company pursuant to Section 280G of the
Code, the Payments shall be reduced (but not below zero) if and to the extent
necessary so that no portion of any Payment to be made or benefit to be provided
to the Executive shall be subject to the Excise Tax or shall be nondeductible by
the Company pursuant to Section 280G of the Code (such reduced amount is
hereinafter referred to as the "Limited Payment Amount"). Unless the Executive
shall have given prior written notice specifying a different order to the
Company to effectuate the Limited Payment Amount, the Company shall reduce or
eliminate the Payments, by first reducing or eliminating those payments or
benefits which are not payable in cash and then by reducing or eliminating cash
payments, in each case in reverse order beginning with payments or benefits
which are to be paid the farthest in time from the Determination (as hereinafter
defined). Any notice given by the Executive pursuant to the preceding sentence
shall take precedence over the provisions of any other plan, arrangement or
agreement governing the Executive's rights and entitlements to any benefits or
compensation.

      5.2  Excise Tax Determination.  An initial determination as to whether the
           ------------------------
Payments shall be reduced to the Limited Payment Amount pursuant to the Plan and
the amount of such Limited Payment Amount shall be made by an accounting firm at
the Company's expense

                                       8
<PAGE>

selected by the Company which is designated as one of the six largest accounting
firms in the United States (the "Accounting Firm"). The Accounting Firm shall
provide its determination (the "Determination"), together with detailed
supporting calculations and documentation to the Company and the Executive
within thirty (30) days of the Termination Date, if applicable, and if the
Accounting Firm determines that no Excise Tax is payable by the Executive with
respect to a Payment or Payments, it shall furnish the Executive with an opinion
reasonably acceptable to the Executive that no Excise Tax will be imposed with
respect to any such Payment or Payments. Within ten (10) days of the delivery of
the Determination to the Executive, the Executive shall have the right to
dispute the Determination (the "Dispute"). If there is no Dispute, the
Determination shall be binding, final and conclusive upon the Company and the
Executive subject to the application of Section 5.3 below.

      5.3  Excess Payment.  As a result of the uncertainty in the application of
           --------------
Sections 4999 and 280G of the Code, it is possible that the Payments to be made
to, or provided for the benefit of, the Executive either have been made or will
not be made by the Company which, in either case, will be inconsistent with the
limitations provided in Section 5.1 (hereinafter referred to as an "Excess
Payment" or "Underpayment", respectively).  If it is established pursuant to a
final determination of a court or an Internal Revenue Service (the "IRS")
proceeding which has been finally and conclusively resolved, that an Excess
Payment has been made, such Excess Payment shall be deemed for all purposes to
be a loan to the Executive made on the date the Executive received the Excess
Payment and the Executive shall repay the Excess Payment to the Company on
demand (but not less than ten (10) days after written notice is received by the
Executive), together with interest on the Excess Payment at the "Applicable
Federal Rate" (as defined in Section 1274(d) of the Code) from the date of the
Executive's receipt of such Excess Payment until the date of such repayment.  In
the event that it is determined by (i) the Accounting Firm, the Company (which
shall include the position taken by the Company, or together with its
consolidated group, on its federal income tax return) or the IRS, (ii) pursuant
to a determination by a court, or (iii) upon the resolution to the Executive's
satisfaction of the Dispute, that an Underpayment has occurred, the Company
shall pay an amount equal to the Underpayment to the Executive within ten (10)
days of such determination or resolution, together with interest on such amount
at the Applicable Federal Rate from the date such amount would have been paid to
the Executive until the date of payment.

  6.  One Million Dollar Deduction Limit.
      ----------------------------------

      6.1  Section 162(m).  Notwithstanding anything contained herein to the
           --------------
contrary, if any portion of the Payments would be nondeductible by the Company
pursuant to Section 162(m) of the Code, the Payments to be made to the Executive
in any taxable year of the Company shall be reduced (but not below zero) if and
to the extent necessary so that no portion of any Payment to be made or benefit
to be provided to the Executive in such taxable year of the Company shall be
nondeductible by the Company pursuant to Section 162(m) of the Code.  The amount
by which any Payment is reduced pursuant to the immediately preceding sentence,
together with interest thereon at the Applicable Federal Rate, shall be paid by
the Company to the Executive on or before the fifth business day of the
immediately succeeding taxable year of the Company, subject to the application
of the limitations of the immediately preceding sentence and Section 5 hereof.
Unless

                                       9
<PAGE>

the Executive shall have given prior written notice specifying a different order
to the Company to effectuate this Section 6, the Company shall reduce or
eliminate the Payments in any one taxable year of the Company by first reducing
or eliminating those payments or benefits which are not payable in cash and then
by reducing or eliminating cash payments, in each case in reverse order
beginning with payments or benefits which are to be paid the farthest in time
from the Section 162(m) Determination (as hereinafter defined). Any notice given
by the Executive pursuant to the preceding sentence shall take precedence over
the provisions of any other plan, arrangement or agreement governing the
Executive's rights and entitlements to any benefits or compensation.

      6.2   Section 162(m) Determination.  The determination as to whether the
            ----------------------------
Payments shall be reduced pursuant to Section 6.1 hereof and the amount of the
Payments to be made in each taxable year after the application of Sections 6.1
hereof shall be made by the Accounting Firm at the Company's expense.  The
Accounting Firm shall provide its determination (the "Section 162(m)
Determination"), together with detailed supporting calculations and
documentation to the Company and the Executive within thirty (30) days of the
Termination Date.  The Section 162(m) Determination shall be binding, final and
conclusive upon the Company and the Executive.

  7.  Restrictive Covenants.
      ---------------------

      7.1  Additional Consideration. The Executive acknowledges that (i) the
           ------------------------
Company separately bargained and paid additional consideration for the
restrictive covenants herein; and (ii) the Company has provided certain benefits
to the Executive hereunder in reliance on such covenants in view of the unique
and essential nature of the services the Executive performs or will perform on
behalf of the Company and the irreparable injury that would befall the Company
should the Executive breach such covenants.

      7.2  Uniqueness of Services.  The Executive further acknowledges that his
           ----------------------
services are of a special, unique and extraordinary character and that his
position with the Company places or will place him in a position of confidence
and trust with employees of the Company and with the Company's other
constituencies and allows him or will allow him access to Confidential
Information (as hereinafter defined).

      7.3  Reasonableness of Restrictions. The Executive further acknowledges
           ------------------------------
that the type and periods of restrictions imposed by the covenants in this
Section 7 are fair and reasonable and that such restrictions will not prevent
the Executive from earning a livelihood.

      7.4  Business of Company.  The Executive further acknowledges that (a) the
           -------------------
Company, together with its subsidiaries, is engaged in the commercial banking
business; (b) the Company conducts its business activity in and throughout the
Area (as hereinafter defined); and (c) Competing Businesses (as hereinafter
defined) are engaged in businesses like and similar to the business of the
Company.

      7.5  Covenants. Having acknowledged the foregoing, the Executive covenants
           ---------
and agrees with the Company that he will not, directly or indirectly:

                                       10
<PAGE>

           (a) while he is in the Company's employ and through the period ending
      one (1) year after the termination of his employment for any reason
      whatsoever (whether voluntarily or involuntarily), disclose or use or
      otherwise exploit for his own benefit, or the benefit of any other person,
      except as may be necessary in the performance of his duties hereunder, any
      Confidential Information disclosed to the Executive or of which the
      Executive became aware by reason of his employment with or ownership in
      the Company;

           (b) while he is in the Company's employ and through the period ending
      one (1) year after the termination of his employment for Cause or
      Disability, solicit or divert or appropriate to any Competing Business,
      directly or indirectly, on his own behalf or in the service of or on
      behalf of any Competing Business, or attempt to solicit or divert or
      appropriate to any such Competing Business, within the Area, any person or
      entity who or which was a customer of the Company at any time during the
      last twelve (12) months of the Executive's employment hereunder and with
      whom the Executive had contact during the term of his employment;

           (c) while he is in the Company's employ and through the period ending
      one (1) year after the termination of his employment for Cause or
      Disability, employ or attempt to employ or assist anyone else in employing
      in any Competing Business in the Area any officer, managerial or executive
      employee of the Company (whether or not such employment is full time or is
      pursuant to a written contract with the Company); and

           (d) while he is in the Company's employ and through the period ending
      one (1) year after the termination of his employment for Cause or
      Disability, engage in or render any services to, or be employed by, any
      Competing Business in the Area in the capacity of officer, managerial or
      executive employee, director, consultant or shareholder (other than as the
      owner of less than one (1%) percent of the shares of a publicly-owned
      corporation whose shares are traded on a national securities exchange or
      in the over-the-counter market); provided, however, that this subsection
      (iv) shall not prohibit or otherwise restrict the Executive from accepting
      employment with a bank holding company that has a banking subsidiary
      within the Area so long as the principal offices of such holding company
      are outside the Area and the Executive's place of employment is also
      outside the Area.

      7.6  Return of Documents. The Executive agrees that upon the termination
           -------------------
of his employment for any reason whatsoever (whether voluntarily or
involuntarily) he will not take with him or retain without written
authorization, and he will promptly deliver to the Company, originals and all
copies of all papers, files or other documents containing any Confidential
Information and all other property belonging to the Company and in his
possession or under his control.

      7.7  Area. For purposes of this Section 7, the term (a) "Area" means a
           ----
fifty (50) mile radius of the Company's main office or the main office of any of
its subsidiaries; (b) "Competing Business" means the commercial banking
business; and (c) "Confidential Information" means any and all data and
information relating to the business of the Company (whether or not constituting
a trade secret) that is, has been or will be disclosed to the Executive or

                                       11
<PAGE>

of which the Executive became or becomes aware as a consequence of or through
his relationship with the Company and that has value to the Company and is not
generally known by its competitors; provided, however, that no information will
                                    --------  -------
be deemed confidential unless it has been reduced to writing and marked clearly
and conspicuously as confidential information, or it is otherwise treated by the
Company as confidential. Confidential Information shall not include any data or
information that has been voluntarily disclosed to the public by the Company
(except where such public disclosure has been made without authorization by the
Company), or that has been independently developed and disclosed by others, or
that otherwise enters the public domain through lawful means. Confidential
Information includes, but is not limited to, information relating to the
Company's financial affairs, processes, services, customers, employees or
employees' compensation, accounting or marketing.

      7.8  Injunctive Relief. The Executive acknowledges that irreparable loss
           -----------------
and injury would result to the Company upon the breach of any of the covenants
contained in this Section 7 and that damages arising out of such breach would be
difficult to ascertain. The Executive hereby agrees that, in addition to all
other remedies provided at law or at equity, the Company may petition and obtain
from a court of law or equity both temporary and permanent injunctive relief to
prevent a breach by the Executive of any covenant contained in this Section 7.

  8.  Successors; Assignability.
      -------------------------

      8.1  Binding Agreement. This Agreement shall be binding upon and shall
           -----------------
inure to the benefit of the Company, its Successors and Assigns, and the Company
shall require any Successors and Assigns to expressly assume and agree to
perform this Agreement in the same manner and to the same extent that the
Company would be required to perform if no such succession or assignment had
taken place. This Agreement shall inure to the benefit of and be enforceable by
the Executive's legal personal representative.

      8.2  No Assignment.  Neither this Agreement nor any right or interest
           -------------
hereunder shall be assignable or transferable by the Executive, his
beneficiaries or legal representatives, except by will or by the laws of descent
and distribution.

  9.  Fees and Expenses.  The Company shall pay all legal fees and related
      -----------------
expenses (including the costs of experts, evidence and counsel) incurred by the
Executive as they become due as a result of (a) the Executive's termination of
employment (including all such fees and expenses, if any, incurred in contesting
or disputing any such termination of employment), (b) the Executive seeking to
obtain or enforce any right or benefit provided by this Agreement (including,
without limitation, any such fees and expenses incurred in connection with the
Dispute) or by any other plan or arrangement maintained by the Company under
which the Executive is or may be entitled to receive benefits, and (c) the
Executive's hearing before the Board as contemplated in Section 2.4 of this
Agreement; provided, however, that the circumstances set forth in clauses (a)
           --------  -------
and (b) of this Section 9 (other than as a result of the Executive's termination
of employment under circumstances described in Section 2.9.2) occurred on or
after a Change in Control.

                                       12
<PAGE>

  10. Notice.  For the purposes of this Agreement, notices and all other
      ------
communications provided for in the Agreement (including the Notice of
Termination) shall be in writing and shall be deemed to have been duly given
when personally delivered or sent by certified mail, return receipt requested,
postage prepaid, addressed to the respective addresses last given by each party
to the other, provided that all notices to the Company shall be directed to the
attention of the Board with a copy to the Secretary of the Company.  All notices
and communications shall be deemed to have been received on the date of delivery
thereof or on the third business day after the mailing thereof, except that
notice of change of address shall be effective only upon receipt.

  11. Non-exclusivity of Rights.  Nothing in this Agreement shall prevent or
      -------------------------
limit the Executive's continuing or future participation in any benefit, bonus,
incentive or other plan or program provided by the Company (except for any
severance or termination policies, plans, programs or practices) and for which
the Executive may qualify, nor shall anything herein limit or reduce such rights
as the executive may have under any other agreements with the Company (except
for any severance or termination agreement).  Amounts which are vested benefits
or which the Executive is otherwise entitled to receive under any plan or
program of the Company shall be payable in accordance with such plan or program,
except as explicitly modified by this Agreement.

  12. Settlement of Claims.  The Company's obligation to make the payments
      --------------------
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any circumstances, including, without
limitation, any set-off, counterclaim, recoupment, defense or other right which
the Company may have against the Executive or others.

  13. Miscellaneous.  No provision of this Agreement may be modified, waived or
      -------------
discharged unless such waiver, modification or discharge is agreed to in writing
and signed by the Executive and the Company.  No waiver by either party hereto
at any time of any breach by the other party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other party
shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time.  No agreement or representations,
oral or otherwise, express or implied, with respect to the subject matter hereof
have been made by either party which are not expressly set forth in this
Agreement.

  14. Governing Law.  This Agreement shall be governed by and construed and
      -------------
enforced in accordance with the laws of the State of Georgia without giving
effect to the conflict of laws principles thereof.

  15. Severability.  The provisions of this Agreement shall be deemed severable
      ------------
and the invalidity or unenforceability of any provision shall not affect the
validity or enforceability of the provisions hereof.

  16. Entire Agreement.  This Agreement constitutes the entire agreement
      ----------------
between the parties hereto and supersedes all prior agreements, if any,
understandings and arrangements, oral or written, between the parties hereto
with respect to the subject matter hereof.

                                       13
<PAGE>

  17. Construction.  Whenever the context requires, words used in the singular
      ------------
shall be construed to mean or include the plural and vice versa, and pronouns of
any gender shall be deemed to include and designate the masculine, feminine or
neuter gender.  The Section headings contained in this Agreement are for
reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement.

                             [SIGNATURES NEXT PAGE]

                                       14
<PAGE>

  IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and
delivered by its duly authorized officers and has caused its proper corporate
seal to be affixed hereto, and the Executive has executed, sealed and delivered
this Agreement, all as of the day and year first above written.

                                    ABC BANCORP

[CORPORATE SEAL]

                               By:  /s/ Kenneth J. Hunnicutt
                                    ------------------------
ATTEST:                             Name:  Kenneth J. Hunnicutt
                                    Title: President & Chief Executive Officer
/s/ Sara R. Hall
-------------------------
Secretary
Sara Hall, Vice President

                                    /s/ W. Edwin Lane, Jr.          (SEAL)
                                    --------------------------------
                                    W. EDWIN LANE, JR.
                                    Executive Vice President &
                                    Chief Financial Officer

                                       15

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