Document:

Exhibit 10(e)

 Exhibit 10(e) 
  
 AGREEMENT 
  
 THIS AGREEMENT is made effective as of April 17, 2003 by and between PROVIDENT COMMUNITY BANK (the”Bank”); UNION FINANCIAL BANCSHARES, INC. (the
“Company”); and Lud W. Vaughn (“Executive”). 
  
 WHEREAS, Executive serves in the position of Executive Vice President and Chief Credit Officer of the Bank, a position of substantial responsibility; and 
  
 WHEREAS, the Bank recognizes the substantial contribution Executive has made to the Bank and wishes to protect her position
therewith for the period provided for in this Agreement. 
  
 NOW,
THEREFORE, in consideration of the foregoing and upon the other terms and conditions hereinafter provided, the parties hereto agree as follows: 
  
 1.    Term of Agreement 
  
 a.)  The term of this Agreement shall be (i) the period commencing on April 17, 2003 (the “Effective Date”) and continuing for a
period of twelve months thereafter; plus (ii) any and all extensions of the term made pursuant to this Section 1. 
  
 b.)  Commencing on the Effective Date and on each day thereafter, the term under this agreement shall be renewed automatically for an additional
one (1)day period beyond the then effective expiration date without action by any party, provided that neither the Company, on the one hand, nor Executive, on the other, shall have given at least sixty (60) days written notice of its or her desire
that the term not be renewed. In the case such notice is given by one party to the other, the term of this Agreement shall become fixed and shall end on the second anniversary of the date of written notice. 
  
 2.    Payments to Executive Upon a Change in Control. 

 
 a.)  Upon the occurrence of a Change in Control (as herein
defined) followed within twenty-four (24) months of the effective date of a Change in Control by the voluntary or involuntary termination of Executive’s employment, other than Termination for Cause, as defined in Section 2(c) hereof, the
provisions of Section 3 shall apply. For purposes of this Agreement, “voluntary termination” shall be limited to the circumstances in which, during the term of this Agreement, Executive elects to voluntarily terminate her employment within
twelve (12) months of the effective date of a Change in Control following any demotion, loss of title, office of significant authority, reduction in her annual compensation or benefits (other than a reduction affecting the Bank’s personnel
generally), or relocation of her principal place of employment by more than thirty-five (35)miles from its location immediately prior to the Change in Control. 
  

b.)  A “Change in Control” of the Company of the Bank shall be deemed to occur if and when (a) an offeror other than the Company
purchases shares of the common stock of the Company or the Bank pursuant to a tender or exchange offer for such shares, (b) any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) is or becomes the
beneficial owner, directly or indirectly, of securities of the Company or the Bank representing 25% or more of the combined voting power of the Company’s then outstanding securities, (c) the membership of the board of directors of 

 the Company or the Bank changes as the result of a contested election, such that individuals who were directors at the
beginning of any twenty-four (24) month period (whether commencing before or after the date of adoption of this Agreement) do not constitute a majority of the Board at the end of such period, or (d) shareholders of the Company or the Bank approve a
merger, consolidation, sale of disposition of all or substantially all of the Company’s or the Bank’s assets, or a plan of partial or complete liquidation. 
  
 c.)  Executive shall not have the right to receive termination benefits pursuant to Section 3 hereof upon
Termination for Cause. The term “Termination for Cause” shall mean termination because of Executive’s intentional failure to perform stated duties, personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty
involving personal profit, willful violation of any law, rule regulation (other than traffic violations or similar offenses) or final cease and desist order, or any material breach of any material provision of this Agreement. In determining
incompetence, the acts or omissions shall be measured against standards generally prevailing in the savings institution industry. Notwithstanding the foregoing, Executive shall not be deemed to have been Terminated for Cause unless and until there
shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths (3/4) of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to
Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof
in detail. Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause. 
  
 3.    Termination 
  
 a.)  Upon the occurrence of a Change in Control, followed within twelve (12) months of the effective date of a Change in Control by the
voluntary or involuntary termination of Executive’s employment other than for Termination for Cause, the Bank shall be obligated to pay Executive, or in the event of her subsequent death, her beneficiary or beneficiaries, or her estate, as the
case may be, as severance pay, a sum equal to one (1) times Executive’s base salary as in effect on the effective date of a Change in Control. Such amount shall be paid to Executive in a lump sum no later than thirty (30) days after the date of
her termination. 
  
 b.)  Upon the occurrence of a
Change in Control of the Bank followed within twelve (12) months of the effective date of a Change in Control by Executive’s voluntary or involuntary termination of employment, other than for Termination for Cause, the Bank shall cause to be
continued life, medical, dental and disability coverage substantially identical to the coverage maintained by the Bank for Executive prior to her severance. Such coverage and payments shall cease upon expiration of twelve (12) months from the date
of Executive’s termination. 
  
 c.)  Notwithstanding the preceding paragraphs of this Section 3, in the event that the aggregate payments or benefits to be made or afforded to Executive under this Section would be deemed to include an “excess parachute
payment” under Section 280G of the Code, such payments or benefits shall be payable or provided to Executive in equal monthly installments over the minimum period necessary to reduce the present value of 
  
  

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 such payments or benefits to an amount which is one dollar ($1.00) less than three (3) times Executive’s “base
amount” as defined under Section 280G of the Code. 
  
 d.)  Any payments made to Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with 12 U.S.C. §1828(k) and any regulations promulgated thereunder. 
  
 4.    Effect on Prior Agreements and Existing Benefit Plans

  
 This Agreement contains the entire understanding between the
parties hereto and supersedes any prior agreement between the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this
Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement. 
  
 5.    No Attachment 
  
 a.)  Except required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void and of no
effect. 
  
 b.)  This Agreement shall be binding upon,
and inure to the benefit of, Executive, the Company, the Bank and their respective successors and assigns. 
  
 6.    Modification and Waiver 
  
 a.)  This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 
  
 b.)  No term or condition of this Agreement shall be deemed to have been waived, nor shall there be an estoppel against the enforcement of any
provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to
the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 
  
 7.    Required Provisions 
  
 a.)  The Bank may terminate Executive’s employment at any time, but any termination by the Bank, other than
Termination for Cause, shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause as
defined in Section 2(c) herein. 
  
 b.)  If Executive is
suspended and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the 
  

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 Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(3) and (g)(1)), the Bank’s
obligations under the Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may, in its discretion, (i) pay Executive all or part of the compensation
withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations that were suspended. 
  
 c.)  If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under
Section 8(e)(4) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(4) or (g)(1)), all obligations of the Bank under the Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.

  
 d.)  If the Bank is in default (as defined in
Section 3(x)(1) of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the parties. 
  
 e.)  All obligations under this Agreement may be terminated:, (I)by the Director of the Office of Thrift
Supervision (the”Director”) or his or her designee at the time the Federal Deposit Insurance Corporation or the Resolution Trust Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority
contained in Section 13(c) of the FDIA and (ii) by the Directors, or his or her designee at the time the Director or such designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by
the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not ve affected by such action. 
  
 8.    Severability 
  
 If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law continue in full force and effect. 
  
 9.    Headings for Reference Only 
  
 The headings of sections and paragraphs herein are included solely for
convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 
  
 10.    Governing Law 
  
 The validity, interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of South Carolina, unless
preempted by Federal law as now or hereafter in effect. 
  
 Any
dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of three arbitrators sitting in a location selected by the employee within fifty (50) miles from the
location of the Bank, in accordance with the rules of the American Arbitration Association then in effect. 
  
  

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 11.    Source of Payments 
  
 All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The
Company, however, guarantees all payments and the provision of all amounts and benefits due hereunder to Executive and, if such payments are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

  
 12.    Payment of Legal Fees 
  
 All reasonable legal fees paid or incurred by Executive pursuant to any
dispute or question of interpretation of this Agreement shall be paid or reimbursed by the Bank if Executive is successful on the merits pursuant to a legal judgement, arbitration or settlement. 
  
 13.    Successor to the Bank or the Company 
  
 The Bank and the Company shall require any successor or assignee, whether
direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all of the business or assets of the Bank or the Company, expressly and unconditionally to assume and agree to perform the Bank’s or the Company’s
obligations under this Agreement, in the same manner and to the same extent that the Bank or the Company would be required to perform if no such succession or assignment had taken place. 
  
 14.    Signatures 
  
 IN WITNESS WHEREOF, the Bank and the Company have caused this Agreement to be executed by a duly authorized officer, and Executive has signed this
Agreement, all on the day and date first above written. 
  

	 ATTEST:
	 	 	 	 PROVIDENT COMMUNITY BANK

				
	  
 /s/ Wanda J. Wells

	 	 	 	 By:
	 	  
 /s/ Dwight V. Neese

	 	 	 	 	 	 	 	 	Dwight V. Neese
			
	 ATTEST:
	 	 	 	UNION FINANCIAL BANCSHARES, INC.
				
	  
 /s/ Wanda J. Wells

	 	 	 	 By:
	 	  
 /s/ Dwight V. Neese

	 	 	 	 	 	 	 	 	Dwight V. Neese
				
	 WITNESS:
	 	 	 	 	 	EXECUTIVE
				
	  
 /s/ Helaine M. Cody

	 	 	 	 By:
	 	  
 /s/ Lud W. Vaughn

	 	 	 	 	 	 	 	 	Lud W. Vaughn

  

 5Employment Agreement

 Exhibit 10.2 
  
 AMENDED EMPLOYMENT AGREEMENT 
  

THIS AGREEMENT, effective as of the 1st day of December 2003, by and among Bainbridge Bancshares, Inc., a Georgia corporation (the
“Company”), First National Bank of Decatur County (Proposed), a proposed national bank to be organized under the laws of the United States (the “Bank”) (the Company and the Bank are collectively referred to herein as the
“Employer”), and Tracy Dixon (the “Executive”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the directors of the Company, as organizers of the Bank, are seeking approval from the Comptroller of the Currency (“OCC”) and the
Federal Deposit Insurance Corporation (“FDIC”) to charter a national bank in Decatur County, Georgia; 
  
 WHEREAS, Executive is willing to assist the directors of the Company in the organization of the Bank and to become the President and Chief Executive
Officer of the Bank and the Company in accordance with the terms and conditions hereinafter set forth; and 
  
 WHEREAS, the Company, the Bank and Executive previously entered into an employment agreement, dated as of May 1, 2003 (the “Original Agreement”)
and desire to amend and replace the Original Agreement in its entirety in order to address comments raised by the FDIC with respect the vesting of options granted to Executive pursuant to the terms of the Original Agreement. 
  
 NOW, THEREFORE, for and in consideration of the mutual premises and covenants
herein contained, the parties hereto agree as follows: 
  
 1.
Consulting Services. From May 1, 2003 through such time as the Bank opens for business, Executive shall assist Employer with the organization of the Bank and the Company. In lieu of the salary provisions set forth in Section 4 of
this Agreement, Executive shall be paid $50 per hour for services rendered to the Bank or the Company pursuant to this Section 1; provided, however, that the aggregate consideration paid to Executive pursuant to this Section 1 shall not exceed
$100,000 per annum. Consideration owed to Executive pursuant to this Section 1 shall be paid to Executive monthly. 
  
 2. Employment. Employer employs Executive and Executive accepts employment upon the terms and conditions set forth in this Agreement.

  
 3. Term. The term of employment of
Executive under this Agreement shall be the period commencing on May 1, 2003 and ending on April 1, 2006. 
  
 4. Compensation. (a) Salary. For all services rendered by Executive, Executive shall be paid a minimum annual base salary of
$100,000, payable in equal installments in accordance with the policies established by the Bank. Salary payments shall be subject to withholding and other applicable taxes. Such base salary may be increased in the discretion of 

  

 
the Board of Directors of the Bank. The Board of Directors in exercising its discretion shall consider Executive’s performance in light of the specific
goals and objectives for the Bank which Executive and the Board of Directors shall mutually agree upon. 
  
 (b) Bonus. Beginning on the second anniversary of the Bank’s opening for business, and in addition to Executive’s base
salary, Executive shall be eligible to receive such performance bonuses as determined in the discretion of the Board of Directors of the Bank. The payment of any bonus pursuant to this Section 4(b) shall be contingent upon the following: 

 

	 	(i)	Prior to the granting of any bonus to Executive, the Board of Directors of the Bank shall consider, and document its findings in the minutes of the meeting wherein the issue was
considered, Executive’s performance in light of the status of the Bank’s internal controls, loan documentation, credit underwriting, interest rate exposure, asset growth, asset quality, earnings, and such other performance goals and
objectives mutually agreed upon between Executive and such Board of Directors at the end of each calendar year pursuant to Section 4(a) hereof. 

  

	 	(ii)	The overall condition of the Bank must be “satisfactory” in the opinion of the OCC as set forth in the most current OCC Report of Supervisory Activity provided to the
Board of Directors of the Bank and the Uniform Financial Institution Rating of the Bank shall not be less than a “2”; and 

  

	 	(iii)	The Bank shall be “well capitalized” as defined under regulations promulgated by the OCC pursuant to the Federal Deposit Insurance Corporation Improvement Act of 1991.

  
 5. Title and Duties.
Executive shall serve as President and Chief Executive Officer of the Bank once the OCC has granted preliminary charter approval and a member of the Interim Board of Directors and the initial Board of Directors of the Bank. Executive shall run the
day-to-day activities of the Bank and oversee the Bank, within the framework of the approved annual budget, and with a sound system of internal controls and in compliance with the policies of the Board of Directors of the Bank, and all applicable
laws and regulations. Executive shall also serve as President of the Company and shall be nominated as a director of the Company for the term of this Agreement. 
  

6. Extent of Services. Executive shall devote his entire time, attention and energies to the business of Employer and shall not
during the term of this Agreement be engaged in any other business activity which requires the attention or participation of Executive during normal business hours of Employer, recognition being given to the fact that Executive is expected on
occasion to participate in client development after normal business hours. However, Executive may invest his assets in such form or manner as will not require his services in the operation of the affairs of the companies in which such investments
are made. Executive shall notify Employer of any significant participation by him in any trade association or similar organization. 
  
 7. Working Facilities. Executive shall have such assistants, perquisites, facilities and services as are suitable to his position and
appropriate for the performance of his duties, 

  

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including membership in the Bainbridge Country Club and the Bainbridge Rotary Club (including dues, assessments and initiation fees). 
  
 8. Expenses. Executive may incur reasonable expenses for
promoting the business of the Bank, including expenses for entertainment, travel, and similar items. Executive will be reimbursed for all such expenses upon Executive’s periodic presentation of an itemized account of such expenditures.

  
 9. Vacations. Executive shall be entitled
each year to a vacation in accordance with the personnel policy established by the Bank’s Board of Directors, which vacation shall be not less than twenty (20) days, during which time Executive’s compensation shall be paid in full.

  
 10. Additional Compensation. As
additional consideration paid to Executive, Executive shall be provided with health, hospitalization, disability and term life insurance, and participation in the Bank’s incentive compensation plan (in the event one is adopted by the Board of
Directors of the Bank). In addition, Executive shall be paid $500 per month as an automobile allowance. The Company shall also grant to Executive non-qualified options to purchase thirty thousand (30,000) shares of the Common Stock of the Company at
an exercise price of $10.00 per share pursuant to the Company’s Incentive Stock Option Plan, as soon as practicable after the Bank commences business. One-third (1/3) of such options shall vest beginning on the first anniversary of the date of
the Bank commences business; one-third (1/3) shall vest on the second anniversary of the Bank’s opening for business; and one-third (1/3) shall vest on the Bank’s third anniversary. All options shall be exercisable for a period of ten (10)
years from the date of grant; provided, however, that, such options shall expire 90 days after the date Executive ceases to be a director of either the Bank or the Company; provided, further, however, that if
Executive ceases to serve as a director as a result of his permanent and total disability or death, such options shall be fully vested and Executive or his estate, as the case may be, will have until twelve months after the date Executive ceases to
serve as a director of the Bank or the Company to exercise such options. 
  
 11. Termination. (a) For Cause. This Agreement may be terminated by the Board of Directors of the Bank without notice and without further obligation than for monies already paid, for
any of the following reasons: 
  

	 	(i)	receipt by the Bank of written notice from the OCC that the OCC has criticized Executive’s performance or his area of responsibility, and has either (a) rated the Bank a
“4” or a “5” under the Uniform Financial Rating System or (b) has determined that the Bank is in a “troubled condition” as defined under Section 914 of the Financial Institutions Reform, Recovery and Enforcement Act of
1989; 

  

	 	(ii)	failure of Executive to follow reasonable written instructions or policies of the Board of Directors of the Bank; 

  

	 	(iii)	 gross negligence or willful misconduct of Executive materially damaging to the business of the Bank during the term of this Agreement, or at any time while he was
employed by the Bank prior to the term of this 

  

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Agreement, if not disclosed to the Bank prior to the commencement of the term of this Agreement; or 

  

	 	(iv)	conviction of Executive during the term of this Agreement of a crime involving breach of trust or moral turpitude. 

  
 In the event that the Bank discharges Executive alleging
“cause” under this Section 11(a) and it is subsequently determined judicially that the termination was “without cause,” then such discharge shall be deemed a discharge without cause subject to the provisions of Section 11(b)
hereof. In the event that the Bank discharges Executive alleging “cause” under this Section 11(a), such notice of discharge shall be accompanied by a written and specific description of the circumstances alleging such “cause.”
The termination of Executive for “cause” shall not entitle the Bank to enforcement of the non-competition and non-solicitation covenants contained in Section 13 hereof. 
  
 (b) Without Cause. 
  

	 	(i)	The Bank may, upon thirty (30) days’ written notice to Executive, terminate this Agreement without cause at any time during the term of this Agreement upon the condition that
Executive shall be entitled, as liquidated damages in lieu of all other claims, to the payment of his base salary for a period of six (6) months. The severance payments provided for in this Section 11(b) shall commence not later than thirty (30)
days after the actual date of termination of employment of Executive. The termination of Executive “without cause” shall not entitle the Bank to enforcement of the non-competition and non-solicitation covenants contained in Section 13
hereof. 

  

	 	(ii)	Executive may upon thirty (30) days’ written notice to Employer terminate this Agreement without cause at any time during the term of this Agreement. In the event of
termination of this Agreement by Executive, the Bank shall have no further obligation to Executive than for monies paid and the Bank shall be entitled to enforcement of the non-competition and non-solicitation covenants contained in Section 13
hereof. 

  
 12. Death or
Disability. In the event of Executive’s death, Employer shall pay to Executive’s designated beneficiary, or, if Executive has failed to designate a beneficiary, to his estate, an amount equal to Executive’s base salary
pursuant to Section 4 hereof through the end of the month in which Executive’s death occurred. Such compensation shall be in lieu of any other benefits provided hereunder, except that any benefit payable pursuant to Section 4 shall be prorated
and made available to Executive in respect of any period prior to his death. The Bank may maintain insurance on its behalf to satisfy in whole or in part the obligations of this Section 12. 
  
 In the event of Executive’s disability, as hereinafter defined, Employer
shall pay to Executive the base salary then in effect through the end of the month in which Executive became disabled. Executive shall be deemed disabled if, by reason of physical or mental impairment, he 

  

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is incapable of performing his duties hereunder for a period of sixty (60) consecutive days. Any dispute regarding the existence, the extent, or the
continuance of Executive’s disability shall be resolved by the determination of a duly licensed and practicing physician selected by and mutually agreeable to both the Board of Directors of the Bank and Executive; provided, however, if
Executive officially establishes his eligibility to receive social security disability benefits or is deemed disabled under the terms and conditions of any disability insurance policy carried on Executive by the Company or the Bank, he shall be
deemed to be disabled as provided herein without further proof. Executive shall make himself available for and submit to such examinations by said physician as may be directed from time to time by the physician. Failure to submit to any such
examination shall constitute a material breach of this Agreement. 
  
 13. Non-Competition and Non-Solicitation. (a) Executive acknowledges that he has performed services or will perform services hereunder which directly affect Employer’s business. Accordingly, the parties deem it
necessary to enter into the protective agreement set forth below, the terms and condition of which have been negotiated by and between the parties hereto. 
  
 (b) In the event of termination of employment under this Agreement by action of Executive pursuant to 11(b)(ii) prior to the expiration of
the term of this Agreement, Executive agrees with Employer that through the actual date of termination of the Agreement, and for a period of twelve (12) months after such termination date, Executive shall not, without the prior written consent of
Employer, within the Primary Service Area of the Bank as set forth in the Charter Application filed by the Bank with the OCC, either directly or indirectly, serve as an executive officer of any bank, bank holding company or other financial
institution. 
  
 (c) The covenants of Executive
set forth in this Section 13 are separate and independent covenants for which valuable consideration has been paid, the receipt, adequacy and sufficiency of which are acknowledged by Executive, and have also been made by Executive to induce Employer
to enter into this Agreement. In the event that a court of competent jurisdiction finds that Executive has violated the provisions of this Section 13, then, as partial relief to Employer, all unexercised options granted to Executive pursuant to
Section 10 hereof shall immediately become null and void. Further, each of the aforesaid covenants may be availed of or relied upon by Employer in any court of competent jurisdiction, and shall form the basis of injunctive relief and damages
including expenses of litigation (including but not limited to reasonable attorney’s fees) suffered by Employer arising out of any breach of the aforesaid covenants by Executive. The covenants of Executive set forth in this Section 13 are
cumulative to each other and to all other covenants of Executive in favor of Employer contained in this Agreement and shall survive the termination of this Agreement for the purposes intended. Should any covenant, term, or condition contained in
this Section 13 become or be declared invalid or unenforceable by a court of competent jurisdiction, then the parties may request that such court judicially modify such unenforceable provision consistent with the intent of this Section 13 so that it
shall be enforceable as modified, and in any event the invalidity of any provision of this Section 13 shall not affect the validity of any other provision in this Section 13 or elsewhere in this Agreement. 
  

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 14. Notices. Any notice required or desired to be given under this Agreement shall
be deemed given if in writing sent by certified mail to his residence in the case of Executive, or to its principal office in the case of Employer. 
  
 15. Waiver of Breach. The waiver by Employer of a breach of any provision of this Agreement by Executive shall not operate or be
construed as a waiver of any subsequent breach by Executive. No waiver shall be valid unless in writing and signed by an authorized officer of Employer. 
  
 16. Assignment. Executive acknowledges that the services to be rendered by him are unique and personal. Accordingly, Executive may
not assign any of his rights or delegate any of his duties or obligations under this Agreement. The rights and obligations of Executive under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of
Employer. 
  
 17. Governing Law. This
Agreement shall be governed and construed in accordance with the laws of the State of Georgia. 
  
 18. Entire Agreement. This Agreement contains the entire understanding of the parties hereto regarding employment of Executive, and supersedes and replaces any prior agreement relating thereto. It
may not be changed orally but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension, or discharge is sought. 
  
 [Signature Page to Follow] 
  

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

  

	 	 	“BANK”
		
	 	 	 FIRST NATIONAL BANK OF DECATUR COUNTY (PROPOSED)

		
	By:	 	 /s/ Charles W. Whittaker

	 	 	Charles A. Whittaker, Chairman
		
	By:	 	 /s/ John A. Dowdy

	 	 	John A. Dowdy, Secretary
		
	 	 	“COMPANY”
		
	 	 	BAINBRIDGE BANCSHARES, INC.
		
	By:	 	 /s/ Charles W. Whittaker

	 	 	Charles A. Whittaker, Chairman
		
	By:	 	 /s/ John A. Dowdy

	 	 	John A. Dowdy, Secretary

  

	 	 	“EXECUTIVE”	 	 
			
	 	 	 /s/ Tracy A. Dixon

	 	(L.S.)
	 	 	Tracy Dixon	 	 

  

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