Document:

Exhibit 10.1

 

MANAGEMENT AND LICENSE AGREEMENT

 

December 15, 2016

 

THIS MANAGEMENT
AND LICENSE AGREEMENT (this “Agreement”) is made and effective as of the date first set forth above
by and among Ameris Bank, a Georgia state-chartered bank (“Ameris”), Mr. William J. Villari, an individual
resident of the State of Georgia (the “Manager”), and US Premium Finance Holding Company, a Florida corporation
(“HoldCo”).

 

RECITALS

 

WHEREAS, the
Manager currently manages a division (“Prior Division”) that conducts the business of soliciting, originating,
servicing, administering and collecting Premium Finance Loans and Non-Premium Finance Loans for and on behalf of The Brand Banking
Company (the “Prior Bank”) pursuant to a management and license agreement; and

 

WHEREAS, Ameris
desires to obtain certain management and other services from the Manager and HoldCo for a division of Ameris, and the Manager and
HoldCo desire to provide such services in accordance with the terms and conditions of this Agreement;

 

NOW, THEREFORE,
in consideration of the foregoing premises and the mutual agreements set forth herein, and other good and valuable consideration,
the sufficiency of which is acknowledged, the parties agree as follows:

 

1.           Definitions.
The following are select definitions used in this Agreement:

 

1.1           “Affiliate”
shall mean with respect to an entity, any entity that Controls or is Controlled by, or under common Control with, such entity.
“Control” means ownership of a majority of the voting stock and securities of any entity.

 

1.2           “Agreement”
shall mean this Management and License Agreement.

 

1.3           “ALCO”
shall mean Ameris’s Asset and Liability Committee.

 

1.4           “Ameris”
shall have the meaning given to it in the first paragraph of this Agreement.

 

1.5           “Bank
Board” shall mean the board of directors of Ameris.

 

1.6           “Bank
CEO” shall mean the chief executive officer of Ameris (or any designee of such chief executive officer
so identified in writing by the chief executive officer to the Manager).

 

1.7           “Business”
shall mean the business of soliciting, originating, servicing, administering and collecting Premium Finance Loans and Non-Premium
Finance Loans.

 

     

     

    

 

1.8           “Business
Day” shall mean a day, other than a Saturday or a Sunday, on which banks in Atlanta, Georgia are open for business.

 

1.9           “Closed
Loan” shall mean a loan that is originated by the Division and underwritten and funded by Ameris.

 

1.10         “Code”
shall have the meaning given to it in Section 6.2.

 

1.11         “Commencement
Date” shall mean January 3, 2017.

 

1.12         “Confidential
Information” shall mean any financial, technical, business, customer (such as an obligor, agent, broker
or insurer), Potential Customer, sales, marketing, and other information (including all agreements, files, lists, books, logs,
charts, rate-tables, financial models, records, studies, reports, surveys, schedules, plans, maps, statistical information, computer
code and programs, technical and functional specifications, and documentation) which may be or already has been furnished or disclosed
by a party hereto (the “Disclosing Party”) to another party hereto (the “Receiving Party”),
or acquired by the Receiving Party directly or indirectly from the Disclosing Party, including as a result of an inspection
of any facility of the Disclosing Party. “Confidential Information” shall also include all memoranda, notes,
reports, and documents relating to Confidential Information, all copies and extracts of Confidential Information, and all computer-generated
studies and data containing Confidential Information prepared by or for the benefit of the Receiving Party.

 

1.13         “Cost
of Funds” shall have the meaning given to it in Exhibit A.

 

1.14         “Disclosing
Party” shall have the meaning given to it in the definition of Confidential Information.

 

1.15         “Division”
shall mean the separate division of Ameris managed by the Manager pursuant to this Agreement, that shall conduct the Business on
behalf of Ameris under the name “US Premium Finance” (which name is under license pursuant to this Agreement). The
Division shall have division-specific facilities, equipment, and employees. The Division shall operate under the banking and other
applicable licenses of Ameris.

 

1.16         “Explanation
Notice” shall have the meaning given to it in Exhibit B.

 

1.17         “HoldCo”
shall have the meaning given to it in the first paragraph of this Agreement.

 

1.18         “Independent
Accounting Firm” shall have the meaning given to it in Section 5.2. 

 

1.19         “Initial
Term” shall have the meaning given to it in Section 9.1(a).

 

1.20         “License
Fee” shall have the meaning given to it in Section 5.2.

 

1.21         “License
Property” shall mean the property covered by the license granted to Ameris in Section 5.1.

 

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1.22         “Loan
Loss” shall have the meaning given to it in Exhibit A.

 

1.23         “Loan
Recovery” shall have the meaning given to it in Exhibit A.

 

1.24         “Loan
Sale Agreement” shall mean the Contract for Sale and Assignment of Loans and Loan Documents between the
Prior Bank and Ameris dated as of the date hereof.

 

1.25         “Manager”
shall have the meaning given to it in the first paragraph of this Agreement.

 

1.26         “Manager
Minimum Compensation” shall have the meaning given to it in Exhibit A.

 

1.27         “Marks”
shall mean the “US Premium Finance” trademark, service mark, and trade name, and trademarks, service marks,
trade names, and any other marks or proprietary indicia, whether or not registered, that may be developed, acquired, or licensed
by, or on behalf of, the Manager, HoldCo or Ameris in connection with the Division, and including any and all intellectual property
rights, rights of registration, or other proprietary rights therein and thereto.

 

1.28         “Minimum
Retained Amount” shall have the meaning given to it in Exhibit A.

 

1.29         “Non-Compete
Covenant” shall have the meaning given to it in Section 9.1(c)(viii).

 

1.30         “Non-Interference
Covenant” shall have the meaning given to it in Section 9.1(c)(vii).

 

1.31         “Non-Premium
Finance Loan” shall mean a loan to a Person engaged in the insurance business that is not an Insurance Premium Finance
Loan.

 

1.32         “Non-Solicitation
Covenant” shall have the meaning given to it in Section 9.1(c)(ix).

 

1.33         “Objection
Notice” shall have the meaning given to it in Exhibit B.

 

1.34         “Person”
shall mean any individual, corporation, partnership, joint venture, association, joint stock company, trust (including
any beneficiary thereof), unincorporated organization, or any other entity, or any government, any agency of a government, or any
political subdivision thereof.

 

1.35         “Portfolio
Size” shall have the meaning given to it in Section 3.2(a).

 

1.36         “Portfolio
Size Floor” shall have the meaning given to it in Section 3.3.

 

1.37         “Potential
Customer” shall mean any insurance company, insurance agency, insurance broker, or other Person seeking
a Premium Finance Loan or a Non-Premium Finance Loan.

 

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1.38         “Premium
Finance Loans” shall mean loans made for purposes of funding insurance premiums.

 

1.39         “Pre-Tax
Income” shall have the meaning given to it in Exhibit A.

 

1.40         “Prior
Bank” shall have the meaning given to it in the Recitals to this Agreement.

 

1.41         “Prior
Division” shall have the meaning given to it in the Recitals to this Agreement.

 

1.42         “Prior
Loans” shall mean a loan that was originated by the Prior Division, the Manager or HoldCo and was underwritten
and funded by the Prior Bank, but shall not include any loans purchased by Ameris pursuant to the Loan Sale Agreement.

 

1.43         “Purchased
Loans” shall mean all loans, both Premium Finance Loans and Non-Premium Finance Loans, which Ameris has
purchased pursuant to the Loan Sale Agreement.

 

1.44         “Receiving
Party” shall have the meaning given to it in the definition of Confidential Information.

 

1.45         “Renewal
Term” shall have the meaning given to it in Section 9.1(a).

 

1.46         “Shareholders
Agreement” shall have the meaning given to it in that certain Stock Purchase Agreement between the Manager and Ameris
Bancorp dated as of the date hereof.

 

1.47         “Sub-Standard”
shall mean a loan that Ameris and Manager, each acting reasonably and in good faith, expect to result in a loss for Ameris,
because the borrower is unlikely to be able to repay the loan and no unused collateral will be recovered from the carrier.

 

1.48         “Term”
shall have the meaning given to it in Section 9.1(a).

 

1.49         “Trade
Secrets” shall mean any information, without regard to form, including technical or non-technical data,
a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial
plans, product plans, or a list of actual or potential customers (as identified in Exhibit C, attached hereto and incorporated
herein by this reference, and as may be updated by the Manager from time to time during the Term upon notice to Ameris) or suppliers
which is not commonly known by or available to the public and which information (a) derives economic value, actual or potential,
from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic
value from its disclosure or use and (b) is the subject of efforts that are reasonable under the circumstances to maintain
its secrecy; or such other meaning as shall be assigned to that term from time to time by applicable state law.

 

1.50         “Yield
Floor” shall have the meaning given to it in Exhibit A.

 

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2.           The
Manager’s Obligations.

 

2.1          General.
The Manager shall provide the following general services:

 

(a)          perform
functions as reasonably directed by the Bank CEO in connection with the administration of the Division;

 

(b)          as
reasonably directed by the Bank CEO, furnish reports regarding Closed Loans and Purchased Loans;

 

(c)          arrange
for the monitoring and administration of the servicing of Closed Loans and Purchased Loans, and manage delinquencies, forbearances,
and cancellations/returns of premiums with respect to the same;

 

(d)          as
reasonably directed by the Bank CEO, administer the day-to-day operations of the Division and perform or supervise the performance
of training, oversight, and other administrative and accounting functions of the Division, including: (i) collection of revenues
and payment of debts and obligations with respect to Closed Loans and Purchased Loans; and (ii) such other functions which
are necessary to the management of the Division;

 

(e)          prepare
and submit annually to the Bank CEO budget proposals and financial projections for the Division for the year to be considered during
Ameris’s budgeting process, and which the Manager shall present, as requested with at least ten (10) days’ prior written
notice to the Manager, to the ALCO at quarterly meetings thereof (the parties acknowledging that each such budget proposal shall
be subject to the approval of the Bank Board); and

 

(f)          arrange
for executive and administrative personnel and services required in rendering all of the foregoing services to the Division;

 

provided,
however, that it is expressly understood and agreed that, notwithstanding the foregoing, (i) the Manager shall have no
responsibility for providing the funding for, or for guaranteeing any of the financings for, the Division, Ameris, or Affiliates
of Ameris; (ii) the Manager shall have no responsibility for fixing or recommending investment, credit, or financial policies
of Ameris or the Division, except with respect to Premium Finance Loans and Non-Premium Finance Loans; and (iii) the Manager
shall not serve on the Bank Board, unless Ameris and the Manager otherwise agree, but by invitation may attend ALCO meetings at
which issues related to the Division are being considered.

 

2.2          Non-Compete.
During the Term, neither the Manager nor HoldCo shall directly or indirectly market, engage in, own, manage, operate, control,
or participate in the ownership, management, operation, conduct or control of a business, line of business, division or enterprise
(other than the Division) of the type and character engaged in and competitive with the Division, except as Manager and Ameris
(or its parent, Ameris Bancorp) may otherwise agree. Notwithstanding the foregoing: (a) the Manager may initiate a sale process
in accordance with Section 9.1(b)(ii) and exercise his rights under the Shareholders Agreement (including the right
of the Manager to institute an Asset Transfer (as such term is defined in the Shareholders Agreement)) and not be in violation
of this Section 2.2; and (b) the Manager and HoldCo may passively hold up to four and 99/100 percent (4.99%) of all
of the issued and outstanding securities of the securities traded publicly, on a national market such as the NYSE or NASDAQ, of
a Person engaged in a business of the type and character engaged in and competitive with the Division, and such circumstance shall
not, in and of itself, be deemed a violation of this Section 2.2.

 

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2.3          Observance
of Policies and Procedures of Ameris. The Manager shall at all times perform and comply with all of the written policies and
procedures of Ameris (which shall include, for all purposes of this Agreement, those policies and procedures provided, set forth
or maintained by Ameris in electronic form) provided or made available to the Manager.

 

2.4          Records.
The Manager shall maintain appropriate books of account and records relating to services performed under this Agreement.

 

2.5          Performance
by HoldCo. The parties acknowledge and agree that, in certain circumstances as may be necessary or appropriate, the responsibilities,
duties and obligations of the Manager set forth in this Section 2 may be performed, fulfilled or satisfied on behalf
of the Manager by HoldCo or its employees, agents or contractors. In any such case, HoldCo shall be subject to and bound by the
terms and conditions of this Agreement applicable to such responsibilities, duties and obligations, or the performance, fulfillment
or satisfaction thereof, in the same manner and to the same extent as the Manager would be subject to and bound by such terms and
conditions, and Ameris shall be entitled to enforce such terms and conditions against HoldCo in the same manner and to the same
extent as it would be entitled to enforce such terms and conditions against the Manager.

 

3.           Obligations
of Ameris.

 

3.1          Division.
Ameris shall establish the Division as a separate division of Ameris with its own accounts of profit and loss, and with division-specific
facilities, equipment, and employees. The Manager shall hold the position and title of “President” of the Division
reporting to the Bank CEO.

 

3.2          General.
Ameris shall:

 

(a)          provide
a source of funds sufficient to fund a Premium Finance Loan and Non-Premium Finance Loan portfolio of a size agreed to by Ameris
and the Manager in accordance with this Agreement (the “Portfolio Size”);

 

(b)          coordinate
and consult with the Manager to develop, and provide to the Manager ninety (90) days’ prior written notice of, loan underwriting
standards with respect to Premium Finance Loans and Non-Premium Finance Loans, as they may be revised by Ameris from time to time;

 

(c)          underwrite
Premium Finance Loans and Non-Premium Finance Loans originated by the Division that meet Ameris’s underwriting standards
and close on such loans as promptly as practicable;

 

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(d)          promptly
provide notice in writing of, including any necessary requirements to correct, any deficiencies as perceived by Ameris in the Manager’s
performance of his duties set forth in Section 2;

 

(e)          notify
the Manager within three (3) Business Days of receipt of the Manager’s written request (including a business case and due
diligence report) of a decision as to whether a Potential Customer is approved to conduct business with the Division, such approval
not to be unreasonably withheld; provided that, if Ameris does not approve a Potential Customer, then the Manager and/or the Division
shall be free to refer such Potential Customer to alternate funding sources, and any revenue associated with any such referral
shall be included in Division revenues for the purposes of calculating Pre-Tax Income; and

 

(f)          on
or before July 1, 2017, and at the expense of Ameris, have completed all necessary licensing requirements, to the reasonable
satisfaction and with the assistance of the Manager, required for the Division for those states in which the Prior Division currently
operates (or currently originates Premium Finance Loans or Non-Premium Finance Loans), a list of which is attached hereto as Exhibit D,
and shall maintain such licenses during the Term; provided, however, that in the event that all necessary licenses are not
obtained by such date, Ameris shall exercise commercially reasonable efforts to obtain such missing licenses as promptly thereafter
as practicable. The parties acknowledge and agree that, without prejudice to any other provision of this Section 3.2,
and notwithstanding the proviso to the immediately preceding sentence: Ameris’s failure to obtain all necessary licenses
with respect to at least ninety percent (90%) (measured by the gross amount financed) of the Premium Finance Loan and Non-Premium
Finance Loan portfolio of the Division on or before July 1, 2017 in accordance with this Section 3.2(f) shall
constitute a material breach of this Agreement.

 

3.3          Portfolio
Size and Loan Sales. (a) Portfolio Size and Portfolio Size Floor. This Agreement shall commence with Ameris funding
an initial Portfolio Size of at least four hundred sixty million dollars ($460,000,000) in accounts receivable. The Portfolio Size
willing to be funded by Ameris (as the same may be increased or decreased from time to time in accordance with this Agreement,
the “Portfolio Size Floor”) shall increase to $750,000,000 in accounts receivable effective January 3,
2017, and shall increase again to $1,000,000,000 in accounts receivable effective January 1, 2018. Ameris and the Manager
may increase or decrease the Portfolio Size that Ameris will fund (and the Portfolio Size Floor automatically shall increase or
decrease in the same amount of such increase or decrease) from time to time by mutual agreement, subject, in the case of an increase,
to Bank Board approval. Other than by mutual agreement, Ameris may reduce the then-current Portfolio Size it will fund (and the
Portfolio Size Floor automatically shall reduce in the amount of such reduction) upon one hundred and eighty (180) days’
prior written notice to Manager if (i) loan losses for the Division substantially exceed the average historical loan losses
experienced in the industry or (ii) a material portion of the Premium Finance Loan and Non-Premium Finance Loan portfolio
of the Division becomes classified as Sub-Standard.

 

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(b)          Loan
Sales. The Premium Finance Loans and the Non-Premium Finance Loans shall remain on the balance sheet of Ameris except as otherwise
provided in this Agreement. If at any time during the Term, Ameris shall be unable to fund to the Portfolio Size Floor as described
in Section 3.3(a) due to regulatory related requirements, then, as necessary to prevent any disruption of the funding
of loans, Ameris and the Manager will work together in good faith to sell Premium Finance Loans (“Loan Sales”)
to one or more third parties approved by Ameris and the Manager. In addition, notwithstanding anything in this Agreement to the
contrary, (A) Ameris may from time to time communicate with third parties regarding one or more such parties’ interest
in purchasing Closed Loans as part of the general capital allocation planning of Ameris so long as (1) Ameris consults with
the Manager in advance of any such communications to ensure that (i) no such sales are made to competitors of the Division
without the Manager’s prior written consent, and, (ii) any and all premium finance marketplace business concerns are
discussed that could negatively impact the Division, (2) Ameris advises such third parties that any such sale is subject to
the Manager’s prior written consent, and (3) such third parties are subject to confidentiality obligations with respect
to such discussions that are at least as restrictive as those contained in this Agreement, and (B) Ameris may not enter into
any transaction with any such third parties concerning the sale of Closed Loans without the prior written consent of the Manager,
which consent shall not be unreasonably withheld. In the event that the proceeds to be received by the Manager related to such
sale of Closed Loans do not equal the present value (indexed off of the then Wall Street Journal Prime Rate) of the amount of the
monthly License Fees that would have been received by the Manager had such Closed Loans remained on the balance sheet of Ameris
and held through their maturity, then it will be deemed reasonable for the Manager to withhold his consent to such sale of Closed
Loans. In the event the Manager consents to any such sale of Closed Loans to a third party, the Manager shall cooperate in good
faith to effect such sale of Closed Loans.

 

3.4          Non-Compete.
During the Term, Ameris shall not directly or indirectly market, engage in, own, manage, operate, control, or participate in the
ownership management, operation, conduct or control of a business, line of business, division or enterprise (other than the Division)
of the type and character engaged in and competitive with the Division. If Ameris acquires another Person with an existing business
that is competitive with the Division, without the primary purpose of such transaction being the acquisition of such competitive
business, Ameris shall not be in breach of this Section 3.4; provided, however, that Ameris shall as promptly
as practicable integrate such competitive business into the Division under the leadership of the Manager and the financial results
of such business shall be included in the financial results of the Division.

 

4.          Prior
Loans. Ameris agrees that the Division shall service the Prior Loans on behalf of the Prior Bank in accordance with the terms
and conditions of the Loan Sale Agreement.

 

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5.           License.

 

5.1          License.
Subject to the terms of this Agreement, each of the Manager and HoldCo hereby grants Ameris a limited, exclusive, non-transferable,
without any right of sublicense, license during the Term to use all Marks, Confidential Information and Trade Secrets (subject
to the confidentiality obligations set forth in Section 7) owned or held by the Manager or HoldCo, as the case may
be, in connection with the Division within the United States of America (and Canada, if the Division makes loans to Canadian obligors
or acquires loans made to Canadian obligors during the Term), including all of its states and territories. Any and all goodwill
attaching to or arising out of any use of the Marks shall inure to the benefit of HoldCo. Ameris agrees that the Division shall
only be operated under the name “US Premium Finance” and not by any other name unless otherwise consented to in writing
by the Manager. The Marks and such Confidential Information and Trade Secrets shall be the sole and exclusive property of the Manager
or HoldCo, as the case may be.

 

5.2          Preservation
of Marks. HoldCo shall, at its sole expense, maintain all registrations of the Marks, including all domain name registrations,
in full force and effect during the Term, and shall take all necessary steps to enforce its rights in the Marks against any actual
or potential infringement, counterfeiting, or other unauthorized use of the Marks by any other Person of which HoldCo or Ameris
becomes aware.

 

5.3          Representations
and Warranties of HoldCo. HoldCo represents and warrants to Ameris that:

 

(a)          HoldCo
is the sole and exclusive legal and beneficial owner of the entire right, title, and interest in and to the Marks;

 

(b)          there
is not in effect, and during the Term HoldCo will not grant, any licenses, liens, security interests, or other encumbrances in,
to or under the Marks;

 

(c)          the
exercise by Ameris of the rights and license granted under this Agreement in the Marks will not infringe or otherwise conflict
with the rights of any other Person in the Marks;

 

(d)          there
is no settled, pending, or, to HoldCo’s knowledge, threatened litigation, opposition, or other claim or proceeding challenging
the validity, enforceability, ownership, registration, or use of any Mark; and

 

(e)          HoldCo
has not brought or threatened any claim against any third party alleging infringement of any Mark, nor, to its knowledge, is any
third party infringing or threatening to infringe any Mark.

 

5.4           License
Fee. On the tenth Business Day of each month, Ameris shall pay to the Manager or his designee a license fee based on the activities
of the Division for the prior month (the “License Fee”), calculated in accordance with Exhibit A
attached hereto and incorporated by this reference. Any unresolved dispute in the calculation of the License Fee for a given month
shall be resolved by an independent accounting firm to be mutually agreed to by the Manager and Ameris (the “Independent
Accounting Firm”), in accordance with the procedures set forth on Exhibit B attached hereto
and incorporated by this reference. The amount of the License Fee not in good faith dispute between the parties will be paid timely.
The cost of the Independent Accounting Firm shall be shared equally by the Manager and Ameris.

 

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5.5          Right
to Withhold. If the Manager materially violates any written policy of Ameris provided to the Manager, and the Manager continues
to violate such written policy for a period of thirty (30) days after receiving written notice of such violation from Ameris, then
Ameris shall be permitted to withhold payment of any License Fee earned or accrued by the Manager under this Agreement from and
after the date that the Manager received such notice until such violation has been cured. For purposes of clarity, when any such
violation has been cured, Ameris shall immediately release to Manager any payment(s) then earned or accrued.

 

6.           Salary
and Benefits.

 

6.1          Salary.
Ameris shall pay the Manager a salary of two hundred thousand dollars ($200,000) annually in accordance with its normal payroll
practices.

 

6.2          Automobile.
Ameris shall pay a one thousand dollar ($1,000) per month automobile allowance to the Manager in accordance with its normal payroll
practices. The Manager shall be responsible for all expenses and upkeep of any automobile procured with such allowance, and for
apportioning the time allocated for personal use to ensure compliance with the Internal Revenue Code of 1986, as amended, and any
regulations promulgated thereunder (the “Code”).

 

6.3          Benefits.
Ameris shall take all necessary steps to enroll and cover the Manager, including any dependents as designated by the Manager, under
its group health insurance and other benefits plans provided or offered to its officers. The Manager will accrue vacation days
in accordance with the normal policies of Ameris as in effect from time to time.

 

6.4          Expenses.
In accordance with its established policies, Ameris shall reimburse the Manager for expenses incurred by the Manager in the performance
of his obligations under this Agreement. The Manager shall account to Ameris for these expenses in detail sufficient to enable
Ameris to properly document and deduct such expenses in compliance with the Code.

 

7.           Non-Disclosure.

 

7.1          Confidential
Information. During the Term and for a period of three (3) years thereafter:

 

(a)          the
Receiving Party shall receive all Confidential Information in strict confidence and shall take all necessary steps to maintain
the confidentiality and secrecy of Confidential Information;

 

(b)          the
Receiving Party may use Confidential Information only in the course of performing its obligations under this Agreement and may
not use Confidential Information for any other reason without the express written consent of the Disclosing Party; and

 

(c)          the
Receiving Party shall not disclose or provide Confidential Information to any other Person, and may only disclose Confidential
Information to those employees and agents of the Receiving Party who (i) have a “need to know” such Confidential
Information to enable them to perform their responsibilities relating to this Agreement and (ii) are subject to legally binding
confidentiality obligations relating to the use and disclosure of such Confidential Information that are at least as restrictive
as those contained in this Agreement.

 

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7.2          Trade
Secrets. The terms of Section 7.1, which apply to Confidential Information, shall also apply to Trade Secrets
for as long as they remain within the definition of Trade Secrets as set forth in this Agreement.

 

7.3          Exceptions.
The obligations of this Section 7 shall not apply to any Confidential Information or Trade Secrets:

 

(a)          that,
at the time of disclosure, are publicly available and publicly known other than as a result of the fault or breach of the Receiving
Party;

 

(b)          that
were rightfully in the possession of the Receiving Party prior to the Receiving Party’s receipt of such Confidential Information
or Trade Secrets, directly or indirectly, from the Disclosing Party;

 

(c)          that
are acquired by the Receiving Party from another Person who does not thereby breach an obligation of confidence to the Disclosing
Party and who discloses such Confidential Information or Trade Secrets to the Receiving Party in good faith; or

 

(d)          regarding
or relevant to the Division that are disclosed to a prospective transferee in connection with an Asset Transfer (as such term is
defined in the Shareholders Agreement).

 

7.4          Legally
Required Disclosure. Notwithstanding the foregoing, the Receiving Party may disclose Confidential Information and Trade Secrets
if and to the extent legally required by a final order of any court or administrative agency having competent jurisdiction; provided,
however, that the Receiving Party first notifies the Disclosing Party and cooperates to protect the confidentiality thereof
by all means reasonably available.

 

7.5          Remedies.
The Receiving Party acknowledges that its violation of the provisions of this Section 7 shall cause the Disclosing
Party irreparable harm, and that monetary damages would be an inadequate remedy for such harm. The Receiving Party agrees that
the Disclosing Party shall be entitled to seek equitable relief (without the necessity of showing any actual damage or posting
a bond or furnishing other security) for any violation of the provisions of this Section 7, in addition to any other
remedies available to it at law or in equity.

 

8.           Limitation
of Damages. EXCEPT FOR BREACHES OF SECTION 7, NO PARTY HEREUNDER SHALL BE LIABLE TO ANOTHER FOR ANY INDIRECT DAMAGES,
INCLUDING SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE),
OR OTHERWISE, AND WHETHER OR NOT A PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

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9.           Term
and Termination.

 

9.1          Term
and Termination for Convenience and Regulatory Purposes.

 

(a)          The
initial term of this Agreement shall be for a period of five (5) years beginning on the Commencement Date (the “Initial
Term”). This Agreement shall automatically renew for additional terms of three (3) years each (each a “Renewal
Term”), unless either Ameris or the Manager provides the other with written notice at least one hundred eighty (180)
days prior to the end of the then-current Term, in which case this Agreement shall terminate at the end of the then-current Term.
The Initial Term, together with any Renewal Term(s), is referred to as the “Term”.

 

(b)          The
Manager may terminate this Agreement for convenience: (i) effective as of or after December 31, 2017, by providing at
least thirty (30) days’ prior written notice to Ameris (which notice may be provided before December 31, 2017 or provided
on or after December 31, 2017), as long as Ameris (or any other wholly-owned subsidiary of Ameris Bancorp) does not own at
least thirty percent (30%) of the issued and outstanding shares of the common stock of HoldCo as of the effective date of such
termination; (ii) effective as of or after June 30, 2018, by providing at least thirty (30) days’ prior written
notice to Ameris (which notice may be provided before June 30, 2018 or provided on or after June 30, 2018), as long as
Ameris (or any other wholly-owned subsidiary of Ameris Bancorp) has not purchased all of the issued and outstanding shares of common
stock of HoldCo as of the effective date of such termination; provided, however, that the Manager may, at the Manager’s
discretion, begin a sale process on or any time after January 15, 2018 in connection with an Asset Transfer (as defined in
the Shareholders Agreement); or (iii) at any time during the Term with written notice to Ameris if either (A) Ameris
reduces the then-current Portfolio Size; or (B) the Manager becomes aware that Ameris is not willing to fund to at least the
then-current Portfolio Size Floor and Ameris has not confirmed in writing that it is willing to fund to at least the then-current
Portfolio Size Floor within fifteen (15) days after request from the Manager; provided, however, that such cure period
in clause (B) shall not apply if the Portfolio Size Ameris is willing to fund falls below the Portfolio Size Floor twice in
any six-month period.

 

(c)          Upon
any termination of this Agreement in accordance with Section 9.1(a) or Section 9.1(b), the obligations
of each party under this Agreement shall immediately cease and:

 

(i)          the
license granted to Ameris to the License Property shall immediately cease;

 

(ii)         the
Manager shall agree to assume the obligations of Ameris under the real property lease for the Division’s primary office,
unless the lessor of such lease is a Person that is an Affiliate of or related to Ameris, in which case the Manager and such lessor
may agree to the Manager’s assumption of the obligations of Ameris under such lease on mutually acceptable terms;

 

    12 

     

    

 

(iii)        the
Manager shall use reasonable efforts to manage and supervise the servicing of any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans unless and until such loans have been purchased by another Person and, if the Manager is unwilling
to do so, the Manager and HoldCo shall agree to provide Ameris a limited, non-exclusive, royalty-free, non-transferable, without
any right of sublicense, license to the License Property and any customer and other data used in the Division solely for
the purpose of the servicing by Ameris of any Closed Loans closed prior to such termination and, if applicable, Purchased Loans,
and for no other purpose (e.g., soliciting or originating any new Premium Finance Loans or Non-Premium Finance Loans), for
a duration not to exceed one year from the date of such termination; any goodwill accrued from such use shall inure to the benefit
of the Manager or HoldCo, as the case may be;

 

(iv)        upon
request by Ameris, the Manager shall use reasonable efforts to find a purchaser for any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans;

 

(v)         Ameris
shall continue to pay the Manager the License Fee with respect to any Closed Loans closed prior to such termination and Purchased
Loans, if applicable, unless and until such loans have been purchased by another Person;

 

(vi)        the
Manager shall keep all copies of the software used by the Division (i.e., “Finance Pro”), and Ameris shall assign
the same to the Manager, to the extent necessary or requested by the Manager;

 

(vii)       (A) for
a period of one hundred eighty (180) days from such termination, Ameris shall permit the Manager to hire, and solicit for hire,
the employees of the Division, and Ameris shall not in any way interfere with such process or induce any such employee not to seek
or enter into employment with the Manager or a designee of the Manager, including by making any counteroffers to such employees;
and (B) for a period of two (2) years from such termination, Ameris shall not hire, or solicit for hire, any person who was
an employee of the Division for the prior six months leading up to the termination (clauses (A) and (B) may be referred to
as the “Non-interference Covenant”);

 

(viii)      for
a period of two (2) years from such termination, Ameris and its Affiliates shall not, without the prior written consent of the
Manager, directly or indirectly market, engage in, own, manage, operate, control, or participate in the ownership, management,
operation, or control of a business of the type and character engaged in and competitive with the Division (the “Non-Compete
Covenant”); and

 

(ix)         for
a period of two (2) years from such termination, Ameris and its Affiliates shall not, without the prior written consent of the
Manager, directly or indirectly solicit for itself, themselves or any other Person, the business of the type and character engaged
in by the Division from any Person, that is or was a customer or Potential Customer of the Division within the two (2) years prior
to such termination (the “Non-Solicitation Covenant”).

 

    13 

     

    

 

9.2          Termination
by Ameris for Breach.

 

(a)          Notwithstanding
anything in this Agreement to the contrary, if the Manager or HoldCo materially breaches this Agreement, Ameris may terminate this
Agreement for breach with written notice to the Manager or HoldCo, as the case may be, at any time after providing the Manager
or HoldCo, as the case may be, with written notice of, and sixty (60) days to cure, such breach.

 

(b)          Upon
any termination of this Agreement in accordance with Section 9.2(a), the obligations of Ameris under this Agreement
shall immediately cease and:

 

(i)          the
license granted to Ameris to the License Property shall immediately cease;

 

(ii)         the
Manager shall agree to assume the obligations of Ameris under the real property lease for the Division’s primary office,
unless the lessor of such lease is a Person that is an Affiliate of or related to Ameris, in which case the Manager and such lessor
shall have the right (but not the obligation) to agree to the Manager’s assumption of the obligations of Ameris under such
lease on mutually acceptable terms;

 

(iii)        the
Manager shall use reasonable efforts to manage and supervise the servicing of any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans unless and until such loans have been purchased by another Person and, if the Manager is unwilling
to do so, the Manager and HoldCo shall agree to provide Ameris a limited, non-exclusive, royalty-free, non-transferable, without
any right of sublicense, license to the License Property and any customer and other data used in the Division solely for
the purpose of the servicing by Ameris of any Closed Loans closed prior to such termination and, if applicable, Purchased Loans,
and for no other purpose (e.g., soliciting or originating any new Premium Finance Loans or Non-Premium Finance Loans), for
a duration not to exceed one year from the date of such termination; any goodwill accrued from such use shall inure to the benefit
of the Manager or HoldCo, as the case may be;

 

(iv)        upon
request by Ameris, the Manager shall use reasonable efforts to find a purchaser for any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans;

 

(v)         Ameris
shall continue to pay the Manager the License Fee with respect to any Closed Loans closed prior to such termination and, if applicable,
Purchased Loans unless and until such loans have been purchased by another Person;

 

    14 

     

    

 

(vi)        the
Manager shall keep all copies of the software used by the Division (i.e., “Finance Pro”), and Ameris shall assign
the same to the Manager, to the extent necessary or requested by the Manager;

 

(vii)       Ameris
shall be bound by the Non-Interference Covenant for a period of one year from such termination if, during such one-year period,
the Manager uses reasonable efforts to manage and supervise the servicing of all Closed Loans closed prior to such termination;

 

(viii)      Ameris
shall be bound by the Non-Compete Covenant for a period of one year from such termination; and

 

(ix)         Ameris
shall be bound by the Non-Solicitation Covenant for a period of one year from such termination.

 

(c)          Ameris
may also terminate this Agreement for breach at any time with written notice if the Manager commits any of the following acts or
the following events occur, and, if capable of being cured, they are not cured within thirty (30) days:

 

(i)          the
Manager is convicted of or has entered a plea of guilty or nolo contendere to a felony; or

 

(ii)         the
Manager commits any material act of dishonesty, fraud, embezzlement, misappropriation, or deceit in connection with the Manager’s
responsibilities under this Agreement.

 

(d)           Upon
any termination of this Agreement in accordance with Section 9.2(c), the obligations of Ameris under this Agreement
shall immediately cease and:

 

(i)          the
license granted to Ameris to the License Property shall immediately cease;

 

(ii)         the
Manager shall agree to assume the obligations of Ameris under the real property lease for the Division’s primary office,
unless the lessor of such lease is a Person that is an Affiliate of or related to Ameris, in which case the Manager and such lessor
may agree to the Manager’s assumption of the obligations of Ameris under such lease on mutually acceptable terms;

 

(iii)        the
Manager shall use reasonable efforts to manage and supervise the servicing of any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans unless and until such loans have been purchased by another Person and, if the Manager is unwilling
to do so, the Manager and HoldCo shall agree to provide Ameris a limited, non-exclusive, royalty-free, non-transferable, without
any right of sublicense, license to the License Property and any customer and other data used in the Division solely for
the purpose of the servicing by Ameris of any Closed Loans closed prior to such termination and, if applicable, Purchased Loans,
and for no other purpose (e.g., soliciting or originating any new Premium Finance Loans or Non-Premium Finance Loans), for
a duration not to exceed one year from the date of such termination; any goodwill accrued from such use shall inure to the benefit
of the Manager or HoldCo, as the case may be;

 

    15 

     

    

 

(iv)        upon
request by Ameris, the Manager shall use reasonable efforts to find a purchaser for any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans;

 

(v)         Ameris
shall continue to pay the Manager the License Fee with respect to any Closed Loans closed prior to such termination and, if applicable,
Purchased Loans unless and until such loans have been purchased by another Person; and

 

(vi)        the
Manager shall keep all copies of the software used by the Division (i.e., “Finance Pro”), and Ameris shall assign
the same to the Manager, to the extent necessary or requested by the Manager.

 

9.3          Termination
by the Manager for Breach.

 

(a)          Notwithstanding
anything in this Agreement to the contrary, if Ameris materially breaches this Agreement (for purposes of clarity, material breach
shall include any breach of Section 3.4), the Manager may terminate this Agreement for breach with written notice to
Ameris, at any time after providing Ameris with written notice of, and sixty (60) days to cure, such breach.

 

(b)          Upon
any termination of this Agreement in accordance with Section 9.3(a), the obligations of the Manager under this
Agreement shall immediately cease and:

 

(i)          the
license granted to Ameris to the License Property shall immediately cease;

 

(ii)         upon
request by Ameris, the Manager shall use reasonable efforts to manage and supervise the servicing of any Closed Loans closed prior
to such termination and, if applicable, Purchased Loans unless and until such loans have been purchased by another Person;

 

(iii)        upon
request by Ameris, the Manager shall use reasonable efforts to find a purchaser for any Closed Loans closed prior to such termination
and, if applicable, Purchased Loans;

 

(iv)        Ameris
shall continue to pay the Manager the License Fee with respect to any Closed Loans closed prior to such termination and, if applicable,
Purchased Loans unless and until such loans have been purchased by another Person;

 

    16 

     

    

 

(v)         for
a period of six (6) months from such termination, Ameris shall continue to provide the Manager with medical insurance benefits
in accordance with Section 6.3, or reimburse the Manager for the cost of acquiring substantially similar medical
insurance benefits, limited to the extent that the Manager obtains any such benefits pursuant to a subsequent employee or management
or similar agreement for his services;

 

(vi)        for
a period of six (6) months from such termination, Ameris shall pay to the Manager the difference between the Cost of Funds and
the “cost of funds” the Manager is able to obtain from alternate funding sources upon presentment of appropriate documentation,
such cost of funds not to exceed the prime rate as published in the Wall Street Journal plus one percent (1%), for each
loan originated by the Manager and funded and underwritten by such alternate funding sources;

 

(vii)       the
Manager shall keep all copies of the software used by the Division (i.e., “Finance Pro”), and Ameris shall assign
the same to the Manager, to the extent necessary or requested by the Manager;

 

(viii)      Ameris
shall be bound by the Non-Interference Covenant for a period of two (2) years from such termination if, during such one-year period,
the Manager uses reasonable efforts to manage and supervise the servicing of all Closed Loans closed prior to such termination;

 

(ix)         Ameris
shall be bound by the Non-Compete Covenant for a period of two (2) years from such termination; and

 

(x)          Ameris
shall be bound by the Non-Solicitation Covenant for a period of two (2) years from such termination.

 

9.4          Survival.
Anything in this Agreement to the contrary notwithstanding, upon any termination of this Agreement, the provisions of Sections 7,
8, 9.1(c), 9.2(b), 9.2(d), 9.3(b), 9.6, 9.7 and 10 shall survive such termination. Any obligations of
the parties incurred prior to any termination of this Agreement, including payment obligations, shall survive such termination.

 

9.5          Severability.
It is the desire and intent of the parties that the provisions of the Non-Interference Covenant (for the applicable duration),
the Non-Compete Covenant (for the applicable duration) and the Non-Solicitation Covenant (for the applicable duration) shall be
enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement
is sought. If any particular provisions or portion of any of these covenants shall be adjudicated to be invalid or unenforceable,
it shall be deemed amended to delete therefrom such provision or portion adjudicated to be invalid or unenforceable, such amendment
to apply only with respect to the operation of these covenants in the particular jurisdiction in which such adjudication is made.

 

    17 

     

    

 

9.6          Remedies.
Each party acknowledges that its violation of the provisions of Sections 9.1(c), 9.2(b), 9.2(d) and 9.3(b)
shall cause irreparable harm to the other, and that monetary damages would be an inadequate remedy for such harm. Each party
agrees that the other shall be entitled to seek equitable relief (without the necessity of showing any actual damages or posting
a bond or furnishing any other security) for any violation of the provisions of Sections 9.1(c), 9.2(b), 9.2(d) and
9.3(b), in addition to any other remedies available to it at law or in equity.

 

9.7          Loan
Repurchase. Notwithstanding anything in this Agreement to the contrary, for a period of ninety (90) days following any termination
of this Agreement, (i) the Manager (or the Manager’s designee) shall have the option to purchase any of the Closed Loans
for a purchase price equal to the outstanding principal balance due with respect to such Closed Loans and the accrued and unpaid
interest thereon through the date of such purchase, and (ii) the Manager shall use reasonable efforts to manage and supervise
the servicing of any Closed Loans closed prior to such termination that are not purchased by the Manager or the Manager’s
designee.

 

10.         Miscellaneous.

 

10.1        Payments.
TIME IS OF THE ESSENCE WITH RESPECT TO ANY PAYMENTS DUE TO THE MANAGER UNDER THIS AGREEMENT.

 

10.2        Binding;
Assignment. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective heirs,
personal representatives, successors, and assigns, whether by instrument, operation of law, or otherwise. Except as expressly set
forth in Section 9.7 or in this Section 10.2, neither Ameris, on the one hand, nor the Manager and
HoldCo, on the other hand, shall assign this Agreement or any part hereof, or any benefit or interest herein, without the prior
written consent of the other. In the event of the incapacity or death of the Manager, his guardian, executor, or heirs shall be
entitled to any funds otherwise due the Manager under this Agreement. Any attempted assignment or delegation of any rights, duties,
or obligations in violation of this Section 10.2 will be invalid and without effect. For the avoidance of doubt,
nothing in this Agreement shall prevent or limit the Manager or HoldCo from exercising rights under the Shareholders Agreement
(including the right of the Manager to institute an Asset Transfer (as such term is defined in the Shareholders Agreement)).

 

10.3        Governing
Law; Venue. This Agreement shall be governed by and construed under the laws of the State of Georgia without regard to its
principles of conflicts of laws. In any action or arbitration proceeding brought by any party hereto to enforce the rights and
obligations of the parties set forth in this Agreement, the prevailing party shall be awarded its reasonable costs in bringing,
prosecuting, or defending such action or proceeding (including reasonable attorneys’ fees) in addition to any award granted
by the court or arbitrator.

 

10.4        Notices.
All notices, requests, demands, claims and other communications hereunder shall be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly given: (i) when delivered personally to the recipient; (ii) one
(1) Business Day after being sent to the recipient by reputable overnight courier service (charges prepaid); (iii) when
sent to the recipient by confirmed facsimile or email transmission; or (iv) five (5) Business Days after being mailed to the
recipient by certified or registered mail, return receipt requested and postage prepaid, and in each case addressed to the appropriate
address indicated below, or such other address as may be given in a notice sent by a party to the other party in accordance with
this Section 10.4.

 

    18 

     

    

 

In the case of Ameris:

 

Ameris Bank

1301 Riverplace Boulevard

Suite 2600

Jacksonville, Florida 32207

Attn: Dennis J. Zember Jr.

Facsimile: (229) 890-2235

Email: dennis.zember@amerisbank.com

 

with a copy (which shall not
constitute notice to Ameris) to:

 

Rogers & Hardin LLP

2700 International Tower

229 Peachtree Street, N.E.

Atlanta, Georgia 30303

Attn: Jody L. Spencer

Facsimile: (404) 230-0972

Email: jspencer@rh-law.com

 

In the case of the Manager:

 

Mr.  William J. Villari

2065 East Lake Road

Atlanta, Georgia 30307

Email: wvillari@gmail.com

 

with a copy (which shall not
constitute notice to the Manager) to:

 

Vedder Price P.C.

222 North LaSalle Street

Chicago, Illinois 60601

Attn: Marc L. Klyman, Esq.

Facsimile: (312) 609-5005

Email: mklyman@vedderprice.com

 

In the case of HoldCo:

 

US Premium Finance Holding Company

2065 East Lake Road

Atlanta, Georgia 30307

Attn: President

Email: wvillari@gmail.com

 

    19 

     

    

 

with a copy (which shall not
constitute notice to HoldCo) to:

 

Vedder Price P.C.

222 North LaSalle Street

Chicago, Illinois 60601

Attn: Marc L. Klyman, Esq.

Facsimile: (312) 609-5005

Email: mklyman@vedderprice.com

 

10.5        Further
Assurances. Each party agrees to execute and deliver such other documents and to take such other actions as may reasonably
be necessary to give full effect to the purposes and intent of this Agreement and its terms and conditions.

 

10.6        Entire
Agreement; Severability; Amendment. This Agreement, including any attachments, schedules, addendums, and exhibits, constitutes
the entire agreement between the parties with respect to the subject matter hereof and states the entire agreement of the parties
with respect to the subject matter hereof. If any provision of this Agreement is held to be invalid or unenforceable to any extent,
the remainder of this Agreement will continue to have full force and effect, and such provision will be interpreted or reformed
to the extent reasonably required to render the same provision valid and enforceable, consistent with the original intent underlying
such provision, it begin understood and agreed that Section 9.5 (rather than this sentence) applies to the Non-Interference
Covenant, the Non-Compete Covenant and the Non-Solicitation Covenant. This Agreement may only be amended, changed, or modified
in a writing executed by all the parties hereto.

 

10.7        Waivers;
Delays or Omissions; Cumulative Remedies. No waiver of any breach of this Agreement extended by any party shall be construed
as a waiver of any rights or remedies with respect to any subsequent breach. It is agreed that no delay or omission to exercise
any right, power, or remedy accruing to a party under this Agreement, upon any breach, default, or noncompliance by the other party,
shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default, or noncompliance,
or any acquiescence therein, or of or in any similar breach, default, or noncompliance thereafter occurring. It is further agreed
that any waiver, permit, consent, or approval of any kind or character on any party’s part of any breach, default, or noncompliance
under this Agreement or any waiver on such party’s part of any provisions or conditions of the Agreement must be in a writing
executed by the parties and shall be effective only to the extent specifically set forth in such writing. All remedies, either
under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

    20 

     

    

 

10.8        Construction.
In this Agreement, including any Schedules, and Exhibits, unless otherwise expressly indicated or required by the context: (a) the
words “including” or “includes” shall be deemed to mean “including without limitation” and
“including but not limited to” (or “includes without limitation” and “includes but is not limited
to”) regardless of whether the words “without limitation” or “but not limited to” actually follow
the term; (b) the words “herein,” “hereof” and “hereunder” and words of similar import
refer to this Agreement (including the Schedules and Exhibits to this Agreement) in its entirety and not to any part hereof
unless the context shall otherwise require; (c) no inference in favor of, or against, any party shall be drawn from the fact
that one party has drafted any portion of this Agreement; (d) the rule of construction to the effect that any ambiguities
are to be resolved against the drafting party shall not be applied to the interpretation of any terms and conditions of this Agreement;
(e) the definitions in this Agreement shall apply equally to both the singular and plural forms of the terms defined; (f) whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms; (g) the word “or”
shall not be exclusive; (h) all references herein to Articles, Sections, Schedules and Exhibits shall be deemed references
to Articles and Sections of, and Schedules and Exhibits to, this Agreement; (i) unless the context shall otherwise require,
any references to any agreement or other instrument or any law, rule or regulation are to such agreement, instrument, law, rule
or regulation as the same may be amended and supplemented from time to time (and, in the case of any law, rule or regulation, to
any successor provisions); (j) any reference in this Agreement to a “day” or a number of “days” without
explicit reference to “Business Days” shall be interpreted as a reference to a calendar day or number of calendar days;
and (k) if any action is to be taken or given on or by a particular calendar day, and such calendar day is not a Business
Day, then such action may be deferred until the next Business Day.

 

10.9        Counterparts.
This Agreement may be executed and delivered simultaneously in multiple counterparts (including delivery by way of electronic or
facsimile transmission), each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

 

10.10      Titles
and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not
to be considered in construing this Agreement.

 

10.11      Payments.
All payments by Ameris or the Manager to the other party pursuant to this Agreement (including the Exhibits hereto) shall
be made by wire transfer of immediately available funds in U.S. dollars.

 

10.12      Costs
and Expenses. For the avoidance of doubt, and except as otherwise provided in this Agreement, (a) all costs and expenses
related to the purchase of the Business or related to the Division shall be paid by Ameris; and (b) the Manager shall not
be personally liable for any costs or expenses of the Business or the Division.

 

10.13      Arbitration.
Notwithstanding any reference in this Agreement to an arbitrator or an arbitration proceeding, no party hereto shall be deemed
to have agreed to enter into or participate or be bound by any arbitration unless such party separately and specifically so agrees
in writing.

 

[The remainder of this page intentionally
left blank]

 

    21 

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement effective as of the date first set forth above, and each of the undersigned represents
and warrants that he, she, or it has the right to execute this Agreement on behalf of the indicated party.

 

	 	“Ameris”
	 	 
	 	AMERIS BANK, a Georgia state-chartered bank
	 	 	 
	 	By:	 /s Dennis J. Zember Jr.
	 	Name: Dennis J. Zember Jr.
	 	Title: EVP, COO and CFO
	 	 
	 	“Manager”
	 	 
	 	WILLIAM J. VILLARI, an individual resident of the State of Georgia
	 	 	 
	 	Sign:	/s/ William J. Villari
	 	 	 
	 	“HoldCo”
	 	 
	 	US PREMIUM FINANCE HOLDING COMPANY, a Florida corporation
	 	 	 
	 	By:	/s/ William J. Villari
	 	Name: William J. Villari
	 	Title: CEO

 

    22Exhibit 10.2

 

STOCK
PURCHASE AGREEMENT

 

This Stock Purchase
Agreement (this “Agreement”) dated as of December 15, 2016, is between William J. Villari, an individual
resident of the State of Georgia (“Seller”), and Ameris Bancorp, a Georgia corporation (“Buyer”).

 

RECITALS

 

A.           Seller
owns one hundred percent (100%) of the issued and outstanding shares of Voting Common Stock, no par value per share (“Voting
Common Stock”), and approximately eighty-three percent (83%) of the issued and outstanding shares of Non-Voting Common
Stock, no par value per share (“Non-Voting Common Stock”), of US Premium Finance Holding Company, a Florida
corporation (“USPF”).

 

B.           The
Voting Common Stock and Non-Voting Common Stock are referred to herein collectively as “USPF Common Stock”.

 

C.           Subject
to the terms and conditions hereinafter set forth, Seller desires to sell to Buyer, and Buyer desires to purchase from Seller,
certain shares of the USPF Common Stock held by Seller.

 

NOW, THEREFORE,
in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties,
and covenants herein contained, the parties agree as follows.

 

1.          Definition
of Certain Terms. In addition to the terms defined in this Agreement, certain other terms used in this Agreement are defined
in the Appendix attached hereto and, when used herein, shall have the meanings set forth in the Appendix, which is incorporated
herein by reference.

 

2.          Purchase
and Sale of Designated USPF Shares. Upon the terms and subject to the conditions set forth herein, Seller shall sell, transfer,
convey, assign and deliver to Buyer at the Closing, and Buyer shall purchase and accept delivery from Seller at the Closing of,
(i) forty-nine (49) shares of the Voting Common Stock owned by Seller and (ii) four hundred fifty (450) of the shares of Non-Voting
Common Stock owned by Seller (collectively, the “Designated USPF Shares”).

 

3.          Purchase
Price. The aggregate consideration payable by Buyer hereunder for the Designated USPF Shares shall be one hundred twenty-eight
thousand, five hundred seventy-two (128,572) shares (the “Designated Ameris Shares”) of the common stock, par
value $1.00 per share, of Buyer, it being understood that, on the date of issuance of the Designated Ameris Shares, such Designated
Ameris Shares will not yet have been registered with the SEC. At the Closing, Buyer, in consideration for the purchase of the Designated
USPF Shares, shall have caused its transfer agent to issue the Designated Ameris Shares to Seller in certificated form.

 

     

     

    

 

		4.	Closing.

 

4.1           Closing
Date. The closing of the sale of the Designated USPF Shares (the “Closing”) will take place on January 3,
2017, or at such other place, time and date as may be agreed by the parties hereto (the “Closing Date”). The
Closing may be accomplished remotely by such combination, as the parties shall agree, of original documents and electronic delivery
of the items required to be delivered pursuant to Section 4.2.

 

4.2           Conditions
to Obligations to Close.

 

(a)          Conditions
to the Obligations of Buyer and Seller to Close. The obligation of Buyer and Seller to consummate the Contemplated Transactions
is subject to the satisfaction of each of the following conditions:

 

(i)          no
Proceeding shall be pending or threatened before any Governmental Body wherein an unfavorable Order would (A) prevent consummation
of any of the Contemplated Transactions or (B) cause any of the Contemplated Transactions to be rescinded following consummation;
and

 

(ii)         no
Legal Requirement shall have been adopted or promulgated as of the Closing Date having the effect of making the Contemplated Transactions
illegal or otherwise prohibiting consummation of, or making void or voidable, the Contemplated Transactions.

 

(b)          Conditions
to the Obligation of Buyer to Close. Buyer’s obligation to consummate the Contemplated Transactions is subject to the
satisfaction, or waiver by Buyer, at or prior to the Closing, of each of the following conditions:

 

(i)          the
representations and warranties set forth in Article 5 shall be true and correct;

 

(ii)         Seller
shall have performed and complied with all of its covenants hereunder which by their nature are to be performed prior to the Closing;

 

(iii)        Seller
shall have executed and delivered to Buyer a certificate, dated the Closing Date, certifying the fulfillment of each of the conditions
specified in Section 4.2(b)(i) and Section 4.2(b)(ii); and

 

(iv)        Seller
shall have delivered to Buyer the following: (A) a share certificate representing the Designated USPF Shares, accompanied
by a duly executed transfer power; (B) a counterpart of the Shareholders Agreement signed by Seller and USPF; (C) a counterpart
of the Registration Rights Agreement signed by Seller; (D) a counterpart of the Management and License Agreement signed by Seller
and USPF; and (E) such other certificates, documents and instruments as Buyer may reasonably request or as otherwise may be necessary
to consummate the Contemplated Transactions.

 

    2

     

    

 

(c)          Conditions
to the Obligation of Seller to Close. Seller’s obligation to consummate the Contemplated Transactions is subject to the
satisfaction, or waiver by Seller at or prior to the Closing, of each of the following conditions:

 

(i)          the
representations and warranties set forth in Article 6 shall be true and correct;

 

(ii)         Buyer
shall have performed and complied with all of its covenants hereunder which by their nature are to be performed prior to the Closing;

 

(iii)        Buyer
shall have executed and delivered to Seller a certificate, dated the Closing Date, certifying the fulfillment of each of the conditions
specified in Section 4.2(c)(i) and Section 4.2(c)(ii); and

 

(iv)        Buyer
shall have delivered to Seller the following: (A) a share certificate representing the Designated Ameris Shares, which Buyer
shall cause its transfer agent to issue; (B) a counterpart of the Shareholders Agreement signed by Buyer; (C) a counterpart
of the Registration Rights Agreement signed by Buyer; (D) a counterpart of the Management and License Agreement signed by Ameris;
and (E) such other certificates, documents and instruments as Seller may reasonably request or as otherwise may be necessary to
consummate the Contemplated Transactions.

 

5.          Representations
and Warranties of Seller. As a material inducement to Buyer to enter into this Agreement and consummate the Contemplated Transactions,
Seller hereby represents and warrants to Buyer that all of the statements contained in this Article 5 are true, correct
and complete as of the date hereof and will be true, correct and complete as of the Closing Date (except for the representations
and warranties that speak as of a specific date, which shall be made as of such date).

 

		5.1	Authority; Consents; Enforcement; Noncontravention.

 

(a)          Enforceability.
Each of the Transaction Documents to which Seller or USPF is a party constitutes the legal, valid and binding obligations of Seller
or USPF, as the case may be, enforceable against Seller or USPF, as the case may be, in accordance with their terms, except as
enforceability may be limited by applicable bankruptcy, fraudulent transfer, reorganization, insolvency, moratorium or other Legal
Requirements from time to time in effect affecting creditors’ rights generally and principles governing the availability
of equitable remedies.

 

(b)          Authority
of Seller and USPF. Each of Seller and USPF has the absolute and unrestricted right, power, authority and capacity to execute
and deliver this Agreement and the other Transaction Documents to which Seller or USPF, as the case may be, is a party, and to
perform its obligations under such Transaction Documents.

 

    3

     

    

 

(c)          Consents.
No consent, action, approval or authorization of, or registration, declaration or filing with, any Governmental Body is required
for the performance by Seller of the terms of the Transaction Documents to which it is a party, except for any applicable federal
or state securities registrations or filings.

 

(d)          Noncontravention.
Neither the execution and the delivery of the Transaction Documents to which Seller or USPF, as the case may be, is a party nor
the fulfillment of the terms, conditions and provisions hereof or thereof, will (i) violate any Legal Requirement applicable
to Seller or USPF, (ii) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create
in any party the right to accelerate, terminate, modify or cancel any agreement, contract, grant of rights, lease, license, instrument
or other arrangement to which Seller or USPF is a party or result in the imposition of or creation of any Encumbrance upon or with
respect to any of the assets owned or used by Seller or USPF (other than in favor of Buyer), (iii) require any notice under
any agreement, contract, lease, license, instrument or other arrangement to which Seller or USPF is a party or by which Seller
or USPF is bound or to which any of Seller’s or USPF’s assets are subject, except as otherwise given prior to the Closing
Date, or (iv) require the approval, consent, authorization or act of, or the making by Seller or USPF of any declaration,
filing or registration with, any Person, except as otherwise obtained or made prior to the Closing Date and except for any applicable
federal or state securities registrations or filings.

 

5.2         Status.
Seller is an individual resident in the State of Georgia. USPF is a duly existing corporation incorporated under the laws of the
State of Florida.

 

5.3         Capitalization,
Share Ownership and Rights.

 

(a)          Capitalization.
There are one thousand (1,000) shares of Voting Common Stock issued and outstanding, all of which are owned by Seller. There are
nine thousand (9,000) shares of Non-Voting Common Stock issued and outstanding, of which seven thousand five hundred (7,500) shares
are owned by Seller and the balance of which are owned by The Villari Family Gift Trust. All of such shares of USPF Common Stock
are and have been duly authorized, validly issued, fully-paid and non-assessable and are not subject to, nor were they issued in
violation of, any preemptive rights, rights of first refusal or similar rights. The Designated USPF Shares that are being transferred
to Buyer at the Closing are free and clear of all options, calls, puts, rights to subscribe, conversion rights and other Encumbrances.

 

(b)          No
Outstanding Rights. Except for this Agreement and those to be terminated on or prior to Closing, there are no, nor are there
any agreements, commitments or arrangements not yet fully performed which would result in any, outstanding agreements, arrangements,
subscriptions, options, warrants, calls, rights or other commitments of any character relating to the issuance, sale, purchase
or redemption of any shares of USPF Common Stock, including the Designated USPF Shares. There is no outstanding or authorized phantom
stock or similar rights with respect to any shares of USPF Common Stock. Seller is not a party to any voting trusts, proxies or
other agreements or understandings relating to the voting, dividend rights or disposition of the Designated USPF Shares, and there
is no such voting trust, proxy or other similar agreement with respect to any shares of USPF Common Stock.

 

    4

     

    

 

(c)          Stock
Issued in Compliance With Laws. None of the USPF Common Stock has been issued in violation of any Legal Requirement pertaining
to the issuance of securities or in violation of any rights, preemptive or otherwise, of any present or past shareholder of USPF.

 

(d)          Title.
After giving effect to the transfer of the Designated USPF Shares to Buyer pursuant to this Agreement, Buyer will own and hold
good and valid title to the Designated USPF Shares, free and clear of all Encumbrances (other than those arising through Buyer
or pursuant to applicable Legal Requirements relating to federal or state securities laws).

 

5.4         USPF
Subsidiaries. USPF owns, free and clear of all options, calls, puts, rights to subscribe, conversion rights and other Encumbrances,
all of the outstanding shares of capital stock or other securities evidencing ownership of each of the following: (i) US Premium
Finance, Inc., a California corporation; and (ii) US Premium Finance Service Co., LLC, a Georgia limited liability company
(collectively, the “USPF Subsidiaries”). All of such shares of capital stock or other securities are validly
issued, fully paid and non-assessable. Each USPF Subsidiary (i) is a duly organized and validly existing corporation or limited
liability company under the laws of its jurisdiction of organization, (ii) is duly licensed and qualified to do business and
is in good standing in all jurisdictions (whether federal, state, local or foreign) where the conduct of its business requires
it to be so qualified (except for jurisdictions in which the failure to be so qualified would not reasonably be expected to, individually
or in the aggregate, have an Adverse Effect on USPF or any USPF Subsidiary) and (iii) has all requisite corporate power and
authority to own or lease its properties and assets and to carry on its business as now conducted. Except for its interests in
the USPF Subsidiaries, USPF does not own, directly or indirectly, any capital stock, membership interest, partnership interest,
joint venture interest or other equity interest in any Person.

 

5.5         Absence
of Certain Events. Since January 1, 2016, except as otherwise set forth in this Agreement, neither USPF or any USPF Subsidiary,
nor Seller in relationship to ownership of USPF, has suffered an Adverse Effect.

 

5.6         Compliance
With Legal Requirements. USPF and each USPF Subsidiary and each of their employees hold all licenses, registrations, franchises,
certificates, variances, permits and authorizations necessary for the lawful conduct of their respective businesses and properties
and are and have been in compliance with, and are not and have not been in violation of, any applicable Legal Requirement, except
in each case where the failure to hold such license, registration, franchise, certificate, variance, permit or authorization or
such noncompliance or violation would not reasonably be expected to, individually or in the aggregate, have an Adverse Effect on
either USPF or any USPF Subsidiary, and neither Seller nor USPF nor any USPF Subsidiary has Knowledge of, or has received notice
of, any violations of any of the above.

 

5.7         Proceedings;
Orders.

 

(a)          Proceedings.
There is no Proceeding pending or, to the Knowledge of Seller or USPF, threatened: (i) against or relating to the Designated
USPF Shares; or (ii) against or relating to USPF (or any USPF Subsidiary) (which, in the case of this clause (ii), reasonably
would be expected to have an Adverse Effect on Seller or USPF).

 

    5

     

    

 

(b)          Orders.
There is no Order: (i) to which the Designated USPF Shares are subject, nor, to the Knowledge of Seller or USPF, is there
any basis for the issuance of such an Order; or (ii) to which USPF (or any USPF Subsidiary) or any of the assets owned or
used by USPF (or any USPF Subsidiary) is subject, nor, to the Knowledge of Seller or USPF, is there any basis for the issuance
of such an Order (which, in the case of this clause (ii), reasonably would be expected to have an Adverse Effect on Seller or USPF).

 

5.8         Financial
Statements.

 

(a)          Seller
or USPF has previously made available to Buyer copies of the following financial statements (collectively, the “USPF Financial
Statements”): (i) the unaudited consolidated balance sheets of USPF and the USPF Subsidiaries for the years ended December 31,
2014 and 2015, and the related unaudited consolidated statements of income for fiscal years 2014 and 2015; and (ii) the unaudited
consolidated balance sheet (the “USPF Balance Sheet”) as of September 30, 2016, the “Balance Sheet
Date”) and consolidated statement of income of USPF and the USPF Subsidiaries for the fiscal quarter ended September 30,
2016. The USPF Financial Statements, as prepared by The Brand Banking Company for USPF, fairly present in all material respects
the results of operations, changes in shareholders’ equity and financial position of USPF and the USPF Subsidiaries (on a
consolidated basis, as applicable) as of the respective dates or for the respective periods therein set forth and have been prepared
in accordance with U.S. generally accepted accounting principles, consistently applied during the periods involved, and, in the
case of interim financial statements, subject to recurring year-end adjustments that are not material in nature or amount. To the
Knowledge of Seller, the USPF Financial Statements, prepared by The Brand Banking Company for USPF, have been prepared from, and
are in accordance with, the books and records of USPF and the USPF Subsidiaries.

 

(b)          USPF
maintains a system of internal accounting controls sufficient to comply with all legal and accounting requirements applicable to
the business of USPF and the USPF Subsidiaries. To the Knowledge of Seller, the books and records kept by USPF and any USPF Subsidiary
are complete and accurate in all material respects and have been maintained in the ordinary course of business and in accordance
with applicable Legal Requirements and accounting requirements.

 

5.9         Undisclosed
Liabilities. Except for those Liabilities that are reflected or reserved against on the USPF Balance Sheet and Liabilities
incurred since the Balance Sheet Date in the ordinary course of business consistent with past practice and that are not and would
not be, individually or in the aggregate, material to USPF and the USPF Subsidiaries, taken as a whole, neither USPF nor any USPF
Subsidiary has any Liability of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether due or to
become due), whether or not the same would have been required to be reflected on the USPF Balance Sheet if it had existed on the
Balance Sheet Date.

 

    6

     

    

 

5.10       Title
to Property. USPF and the USPF Subsidiaries have good and valid title to all personal property owned by any of them, whether
tangible or intangible, in each case free and clear of all Encumbrances, except as set forth in the USPF Balance Sheet.

 

5.11       Taxes
and Tax Returns.

 

(a)          USPF
and each USPF Subsidiary has duly and timely filed or caused to be filed (including all applicable extensions) all federal, state,
foreign and local Tax Returns required to be filed by it or with respect to it (all such Tax Returns being accurate and complete
in all respects) and has duly and timely paid or caused to be paid on its behalf all Taxes required to be paid by it (whether or
not shown to be due on such Tax Returns).

 

(b)          No
jurisdiction where USPF and the USPF Subsidiaries do not file a Tax Return has made a claim in writing that USPF or any USPF Subsidiary
is required to file a Tax Return in such jurisdiction.

 

(c)          There
are no audits, examinations, disputes or proceedings pending or, to the Knowledge of Seller or USPF, threatened with respect to,
or claims or assessments asserted or, to the Knowledge of Seller or USPF, threatened for, any Taxes of USPF or any USPF Subsidiary.

 

5.12       Agent,
Finder or Broker. Neither Seller nor USPF has any Liability to pay any fees or commissions to any agent, broker or finder with
respect to the Contemplated Transactions, other than Colonnade Securities LLC.

 

5.13       Securities
Matters. Seller is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities
Act of 1933, as amended (the “Securities Act”). Seller acknowledges that the Designated Ameris Shares have not
been registered under the Securities Act or any applicable state securities laws and that such shares may not be transferred or
sold except pursuant to the registration provisions of the Securities Act or pursuant to an applicable exemption therefrom and
pursuant to state securities laws as applicable. Seller is acquiring the Designated Ameris Shares hereunder for his own account
for investment purposes only and not with a view to or for resale in connection with any distribution thereof. Seller became aware
of the offering of the Designated Ameris Shares, and the Designated Ameris Shares were offered to Seller, solely by direct contact
between Seller and Buyer, and not by any other means, including any form of “general solicitation” or “general
advertising” (as such terms are used in Regulation D promulgated under the Securities Act and interpreted by the U.S. Securities
and Exchange Commission (the “SEC”)).

 

5.14       Investment
Decision. Seller has received, has had ample opportunity to review and has reviewed, a copy of this Agreement and such other
documents and information as he has deemed appropriate to make his own analysis and decision to enter into this Agreement and to
acquire the Designated Ameris Shares on the basis of such analysis. Seller has such knowledge and experience in business and financial
matters to enable Seller to understand and evaluate this Agreement and form an investment decision with respect thereto.

 

    7

     

    

 

5.15         Due
Diligence. Seller acknowledges that no due diligence materials or other information provided to Seller in connection with his
due diligence review shall be deemed to constitute express or implied representations or warranties and that, except as set forth
in this Agreement and the other Transaction Documents to which Buyer or Ameris is a party, Seller is not relying upon any representation
or warranty in connection with his decision to enter into this Agreement and the transactions set forth herein. Nothing in this
Section 5.15 is, however, intended to limit any of the representations and warranties made by Buyer or Ameris in this
Agreement or in any of the other Transaction Document to which Buyer or Ameris is a party.

 

6.          Representations
and Warranties of Buyer. As a material inducement to Seller to enter into this Agreement and consummate the Contemplated Transactions,
Buyer hereby represents and warrants to Seller that all of the statements contained in this Article 6 are true, correct
and complete as of the date hereof and will be true, correct and complete as of the Closing Date (except for the representations
and warranties that speak as of a specific date, which shall be made as of such date).

 

6.1         Authority;
Consents; Enforcement; Noncontravention.

 

(a)          Enforceability.
Each of the Transaction Documents to which Buyer or Ameris is a party constitutes the legal, valid and binding obligations of Buyer
or Ameris, as the case may be, enforceable against Buyer or Ameris, as the case may be, in accordance with their terms, except
as enforceability may be limited by applicable bankruptcy, fraudulent transfer, reorganization, insolvency, moratorium or other
Legal Requirements from time to time in effect affecting creditors’ rights generally and principles governing the availability
of equitable remedies.

 

(b)          Authority
of Buyer and Ameris. Each of Buyer and Ameris has the absolute and unrestricted right, power, authority and capacity to execute
and deliver this Agreement and the other Transaction Documents to which it is a party, and to perform its obligations under such
Transaction Documents.

 

(c)          Consents.
No consent, action, approval or authorization of, or registration, declaration or filing with, any Governmental Body is required
for the performance by Buyer of the terms of the Transaction Documents to which it is a party, except for any applicable federal
or state securities registrations or filings.

 

(d)          Noncontravention.
Neither the execution and the delivery of the Transaction Documents to which Buyer or Ameris is a party nor the fulfillment of
the terms, conditions and provisions hereof or thereof, will (i) violate any Legal Requirement applicable to Buyer or Ameris,
(ii) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any party
the right to accelerate, terminate, modify or cancel any agreement, contract, grant of rights, lease, license, instrument or other
arrangement to which Buyer or Ameris is a party or result in the imposition of or creation of any Encumbrance upon or with respect
to any of the assets owned or used by Buyer or Ameris, (iii) require any notice under any agreement, contract, lease, license,
instrument or other arrangement to which Buyer or Ameris is a party or by which Buyer or Ameris is bound or to which any of Buyer’s
or Ameris’s assets are subject, except as otherwise given prior to the Closing Date, or (iv) require the approval, consent,
authorization or act of, or the making by Buyer or Ameris of any declaration, filing or registration with, any Person, except as
otherwise obtained or made prior to the Closing Date and except for any applicable federal or state securities registrations or
filings.

 

    8

     

    

 

6.2         Status.
Ameris is a duly existing bank chartered under the laws of the State of Georgia. Buyer is a duly existing corporation incorporated
under the laws of the State of Georgia.

 

6.3         Capitalization,
Share Ownership and Rights.

 

(a)          Capitalization.
There are 34,921,474 shares of the common stock, par value $1.00 per share, of Buyer issued and outstanding, and an additional
1,456,333 of such shares held in treasury, as of December 6, 2016, all of which are approved for listing on and are listed
on NASDAQ, are registered with the SEC, and all of which are voting shares with the same voting rights (the “Publicly
Traded Common Stock”). All of such shares of the Publicly Traded Common Stock are and have been duly authorized, validly
issued, fully-paid and non-assessable and are not subject to, nor were they issued in violation of, any preemptive rights, rights
of first refusal or similar rights. All of the Designated Ameris Shares are duly authorized and, upon the issuance thereof pursuant
to this Agreement, will be validly issued, fully-paid and non-assessable and not subject to, nor will they have been issued in
violation of, any preemptive rights, rights of first refusal or similar rights. The Designated Ameris Shares have the same voting,
dividend and other rights (and are of the same class and series) as the shares of the Publicly Traded Common Stock (except that
the Designated Ameris Shares are not yet registered with the SEC or listed on NASDAQ) and are free and clear of all options, calls,
puts, rights to subscribe, conversion rights and other Encumbrances.

 

(b)          No
Outstanding Rights. Except for this Agreement and those to be terminated on or prior to Closing, there are no, nor are there
any agreements, commitments or arrangements not yet fully performed which would result in any, outstanding agreements, arrangements,
subscriptions, options, warrants, calls, rights or other commitments of any character relating to the issuance, sale, purchase
or redemption of the Designated Ameris Shares or, except as disclosed in the SEC Reports, the Publicly Traded Common Stock. There
is no outstanding or authorized phantom stock or similar rights with respect to the Designated Ameris Shares or the Publicly Traded
Common Stock. Neither Buyer nor Ameris is a party to any voting trusts, proxies or other agreements or understandings relating
to the voting, dividend rights or disposition of the Designated Ameris Shares or, except as disclosed in the SEC Reports, the Publicly
Traded Common Stock.

 

(c)          Stock
Issued in Compliance With Laws. None of the shares of common stock of Buyer (including the Designated Ameris Shares) has been
issued in violation of any Legal Requirement pertaining to the issuance of securities or in violation of any rights, preemptive
or otherwise, of any present or past shareholder of Buyer.

 

    9

     

    

 

(d)          Title.
After giving effect to the transfer of the Designated Ameris Shares to Seller pursuant to this Agreement, Seller will own and hold
good and valid title to the Designated Ameris Shares, free and clear of all Encumbrances (other than those arising through Seller
or pursuant to applicable Legal Requirements relating to federal or state securities laws).

 

6.4         SEC
Reports. Buyer has filed all reports, schedules, forms, statements and other documents required to be filed by it under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), including pursuant to Section 13(a) or
15(d) thereof, since January 1, 2016 (the foregoing materials, including the exhibits thereto and documents incorporated by
reference therein, being collectively referred to herein as the “SEC Reports”). As of their respective filing
dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the
rules and regulations of the SEC promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement
of a material fact or omitted to state a material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading.

 

6.5         Absence
of Certain Events. Since January 1, 2016, except as otherwise set forth in this Agreement or as disclosed in the SEC Reports,
neither Ameris nor Buyer has suffered an Adverse Effect.

 

6.6         Compliance
With Legal Requirements. Buyer and Ameris and each of their employees hold all licenses, registrations, franchises, certificates,
variances, permits and authorizations necessary for the lawful conduct of their respective businesses and properties and are and
have been in compliance with, and are not and have not been in violation of, any applicable Legal Requirement, except in each case
where the failure to hold such license, registration, franchise, certificate, variance, permit or authorization or such noncompliance
or violation would not reasonably be expected to, individually or in the aggregate, have an Adverse Effect on Buyer or Ameris and
except as previously disclosed to Seller in writing or as disclosed in the SEC Reports, and neither Buyer nor Ameris has Knowledge
of, or has received notice of, any violations of any of the above except as previously disclosed to Seller in writing or as disclosed
in the SEC Reports.

 

6.7         Proceedings;
Orders.

 

(a)          Proceedings.
Except as disclosed in the SEC Reports, there is no Proceeding pending or, to the Knowledge of Buyer, threatened: (i) against
or relating to the Designated Ameris Shares or the Publicly Traded Common Stock; or (ii) against or relating to Buyer or Ameris
(which, in the case of this clause (ii), reasonably would be expected to have an Adverse Effect on Buyer or Ameris).

 

(b)          Orders.
Except as disclosed in the SEC Reports, there is no Order: (i) to which the Designated Ameris Shares are subject, nor, to
the Knowledge of Buyer, is there any basis for the issuance of such an Order; or (ii) to which Buyer or Ameris or any of the
assets owned or used by Buyer or Ameris is subject, nor, to the Knowledge of Buyer, is there any basis for the issuance of such
an Order (if such Order, in the case of this clause (ii), reasonably would be expected to have an Adverse Effect on Buyer
or Ameris).

 

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6.8           Agent,
Finder or Broker. Buyer has no Liability to pay any fees or commissions to any agent, broker or finder with respect to the
Contemplated Transactions.

 

6.9           Securities
Matters. Buyer is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities
Act. Buyer acknowledges that the Designated USPF Shares have not been registered under the Securities Act or any applicable state
securities laws and that such shares may not be transferred or sold except pursuant to the registration provisions of the Securities
Act or pursuant to an applicable exemption therefrom and pursuant to state securities laws as applicable. Buyer is acquiring the
Designated USPF Shares hereunder for its own account for investment purposes only and not with a view to or for resale in connection
with any distribution thereof. Buyer became aware of the offering of the Designated USPF Shares, and the Designated USPF Shares
were offered to Buyer, solely by direct contact between Seller and Buyer, and not by any other means, including any form of “general
solicitation” or “general advertising” (as such terms are used in Regulation D promulgated under the Securities
Act and interpreted by the SEC).

 

6.10         Investment
Decision. Buyer has received, has had ample opportunity to review and has reviewed, a copy of this Agreement and such other
documents and information as it has deemed appropriate to make its own analysis and decision to enter into this Agreement and to
buy the Designated USPF Shares on the basis of such analysis. Buyer has such knowledge and experience in business and financial
matters to enable Buyer to understand and evaluate this Agreement and form an investment decision with respect thereto.

 

6.11         Due
Diligence. Buyer acknowledges that no due diligence materials or other information provided to Buyer in connection with its
due diligence review shall be deemed to constitute express or implied representations or warranties and that, except as set forth
in this Agreement and the other Transaction Documents to which Seller or USPF is a party, Buyer is not relying upon any representation
or warranty in connection with its decision to enter into this Agreement and the transactions set forth herein. Nothing in this
Section 6.9 is, however, intended to limit any of the representations and warranties made by Seller or USPF in this
Agreement or in any of the other Transaction Document to which Seller or USPF is a party.

 

7.          Transfer
Taxes. All transfer, documentary, sales, bulk sales, use, stamp, recordation, grantor/grantee, documentary, acquisition, value
added, registration and other such Taxes and fees (including any charges, surcharges, penalties and interest) incurred in connection
with the Designated Ameris Shares or the Designated USPF Shares (“Transfer Taxes”) will be borne by Buyer, and
Buyer shall, at its own expense, properly file on a timely basis all Tax Returns, reports, forms, and other documentation required
of it by applicable law with respect to any Transfer Taxes and, upon request, provide to Seller evidence thereof.

 

		8.	Indemnification.

 

8.1           Survival.
Except as otherwise specifically provided in this Agreement, all of the representations and warranties of Seller and Buyer in Articles
5 and 6, respectively, shall survive the Closing and continue in full force and effect for a period of one (1) year
thereafter, except that the representations and warranties set forth in Sections 5.1(a), 5.1(b), 5.3(a), 5.12,
6.1(a), 6.1(b), 6.3(a) and 6.8 shall survive indefinitely. None of the covenants or other agreements
contained in this Agreement shall survive the Closing, other than those which by their terms contemplate performance after the
Closing, each of which shall survive the Closing in accordance with its terms.

 

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8.2           Indemnification
Provision for Benefit of Buyer. Seller agrees to indemnify and hold harmless Buyer and its Affiliates and their respective
shareholders, partners, members, officers, directors, employees, agents and representatives, and each of their heirs, executors,
successors and assigns, from and against any Damages that any such Person may suffer in any way resulting from, arising out of
or caused by: (i) any breach of, misrepresentation in, untruth in or inaccuracy in any representation or warranty made by
Seller in this Agreement or in any other Transaction Document to which Seller is a party; or (ii) the nonfulfillment or nonperformance
of any agreement, covenant or condition on the part of Seller made in this Agreement or in any other Transaction Document to which
Seller is a party.

 

8.3           Indemnification
Provision for Benefit of Seller. Buyer agrees to indemnify and hold harmless Seller and his Affiliates and their respective
shareholders, partners, members, officers, directors, employees, agents and representatives, and each of their heirs, executors,
successors and assigns, from and against any Damages that any such Person may suffer in any way resulting from, arising out of
or caused by: (i) any breach of, misrepresentation in, untruth in or inaccuracy in any representation or warranty made by
Buyer in this Agreement or in any other Transaction Document to which Buyer is a party; or (ii) the nonfulfillment or nonperformance
of any agreement, covenant or condition on the part of Buyer made in this Agreement or in any other Transaction Document to which
Buyer is a party.

 

		8.4	Claims.

 

(a)          Claim
Notices. If any Person that may be entitled to indemnification hereunder (an “Indemnified Party”) asserts
a claim for indemnification hereunder (a “Claim”), such Indemnified Party shall provide a written notice thereof
(a “Claim Notice”) to the party required by the terms of this Agreement to indemnify the Indemnified Party (an
“Indemnifying Party”) (i) within thirty (30) days after its receipt of written notice of either commencement
of any third-party litigation or any third-party claim against it (such litigation or claim by a third party, a “Third
Party Claim”), or (ii) within a reasonable period after such Indemnified Party becomes aware of the existence of
any other event with respect to which indemnification may be sought from the Indemnifying Party; provided, however,
that no delay or failure on the part of an Indemnified Party in providing a Claim Notice to any Indemnifying Party shall relieve
the Indemnifying Party from any Liability or obligation hereunder except to the extent the Indemnifying Party is prejudiced by
such delay or failure.

 

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(b)          Third
Party Claims. Within thirty (30) days after receipt of a Claim Notice containing the information set forth in Section 8.4(a)
with regard to a Third Party Claim (but in any event at least five (5) Business Days prior to the date any answer to such Third
Party Claim is due to be filed), the Indemnifying Party shall notify the Indemnified Party in writing of its election to defend
or compromise any Third Party Claim at its own expense and by its own counsel, who shall be reasonably satisfactory to the Indemnified
Party. The Indemnifying Party may defend against, or enter into any settlement with respect to, the matter in any manner it reasonably
may deem appropriate, except that it will not consent to the entry of any judgment or enter into any settlement with respect to
the matter without the written consent of the Indemnified Party, which consent shall not be unreasonably withheld. With regard
to such Third Party Claims which the Indemnifying Party elects to defend or compromise, the Indemnified Party may retain separate
co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the reasonable fees and expenses
of the separate co-counsel in the event that the counsel selected by the Indemnifying Party cannot independently represent both
the Indemnified Party and the Indemnifying Party due to a conflict of interest or is not, in the Indemnified Party’s reasonable
determination, adequately representing the Indemnified Party). If the Indemnifying Party fails to provide notice that the Indemnifying
Party is assuming the defense or compromise of the Third Party Claim within the thirty (30) day period following the Indemnifying
Party’s receipt of the Claim Notice, the Indemnified Party (at the Indemnifying Party’s expense) may defend against,
or enter into any compromise with respect to, the matter in any manner it reasonably may deem appropriate. The party controlling
the defense of any Third Party Claim shall deliver, or cause to be delivered, to the other party or parties copies of all correspondence,
pleadings, motions, briefs, appeals or other written statements relating to or submitted in connection with the defense of the
Third Party Claim and timely notices of and the right to participate (as an observer) in any Proceeding relating to the Third Party
Claim. The Indemnifying Party shall satisfy the Claim in accordance with Section 8.4(f). Notwithstanding the foregoing,
if (A) a Third Party Claim relates primarily to a criminal proceeding, action or indictment, (B) the Indemnified Party
reasonably believes an adverse determination with respect to a Third Party Claim or other claim giving rise to a Third Party Claim
is likely and such adverse determination would materially and adversely affect the Indemnified Party’s reputation or future
business prospects, (C) a Third Party Claim seeks an injunction or equitable relief against the Indemnified Party, or (D) the
Indemnified Party reasonably determines that the Indemnifying Party cannot adequately represent the interests of the Indemnified
Party because of a conflict of interest, then in any such case the Indemnified Party shall have the sole right to defend and settle
such Third Party Claim (with the Indemnifying Party being entitled, at its cost and expense, to consult with respect to such defense),
and to pursue its indemnification rights hereunder and whatever other legal remedies may be available to enforce its rights under
this Article 8. If the Indemnified Party elects to assume and control the defense of such a Third Party Claim, it will
provide notice thereof to the Indemnifying Party within thirty (30) days after the Indemnified Party has received notice of such
Third Party Claim.

 

(c)          Claims
Between the Parties. With respect to any other Claim for indemnification hereunder not involving a Third Party Claim, the Indemnified
Party shall give the Indemnifying Party a Claim Notice. Within thirty (30) days following receipt of the Claim Notice, the Indemnifying
Party shall either (i) acknowledge and agree by written notice to the Indemnified Party that the Indemnifying Party intends
to satisfy such Claim, or (ii) notify the Indemnified Party that the Indemnifying Party disputes the Claim. If the Indemnifying
Party agrees to satisfy the Claim, the Claim shall be satisfied in accordance with Section 8.4(f). If the Indemnifying
Party disputes the Claim, the parties agree to negotiate in good faith to resolve the dispute for a period of thirty (30) days.
If the parties cannot reach a satisfactory resolution of the Claim within such thirty (30) day period, any party may choose to
litigate the Claim.

 

    13

     

    

 

(d)          Support
for Claims. Upon written request, the Indemnified Party shall provide the Indemnifying Party all information and documentation
reasonably necessary to support and verify any Damages that the Indemnified Party believes give rise to a Claim for indemnification
hereunder and shall give the Indemnified Party reasonable access to all premises, books, records and personnel in the possession
or under the control of the Indemnified Party that would have bearing on such Claim.

 

(e)          Claims
Periods. It is understood that once a Claim Notice has been timely given, the claims and rights to indemnification relating
thereto that are the subject of such Claim Notice shall survive until such Claim is finally resolved. A Claim Notice shall be timely
given if it is submitted within an applicable survival period; provided, however, that (i) within the ten (10)
days following the end of an applicable survival period, an Indemnified Party may submit a Claim Notice related to its receipt,
no more than ten (10) days prior to the end of such applicable survival period, of written notice of commencement of any third-party
litigation or third-party claim against it, and (ii) in the thirty (30) days immediately following the conclusion of an applicable
survival period, an Indemnified Party may amend for the purpose of providing greater detail any Claim Notice that came to its attention
and that it submitted in the sixty (60) days immediately preceding the conclusion of such applicable survival period.

 

(f)          Payment
of Claims. As used in this Section, the phrase “determination of the amount” of a Claim shall mean agreement on
such amount between the affected parties or the amount as set forth in an Order. Upon determination of the amount of a Claim pursuant
to a properly submitted Claim Notice, the Claim shall be immediately paid in readily available funds by the Indemnifying Party.

 

8.5         Other
Indemnification Provisions.

 

(a)          Manner
of Calculation. For purposes of determining whether there has been a breach of any representation or warranty, or the amount
of any Damages related to a breach of any representation or warranty, the representations and warranties set forth in this Agreement
shall be considered without regard to any “material,” “Adverse Effect” or similar qualifications set forth
therein.

 

(b)          Limitations.
Notwithstanding anything to the contrary in this Agreement: (i) neither party hereto shall be liable under this Agreement for any
special, indirect, punitive or consequential Damages; and (ii) each party hereto hereby waives, releases and agrees (and each Indemnified
Party shall be deemed to have waived, released and agreed) that it shall not bring a claim for any such Damages, whether or not
accrued and whether or not known or suspected to exist in its favor.

 

		9.	Miscellaneous Provisions.

 

9.1           Payments.
TIME IS OF THE ESSENCE WITH RESPECT TO ANY PAYMENTS DUE UNDER THIS AGREEMENT.

 

    14

     

    

 

9.2           Binding;
Assignment. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective heirs,
personal representatives, successors, and assigns, whether by instrument, operation of law, or otherwise. Except as expressly set
forth in this Section 9.2, neither party shall assign this Agreement or any part hereof, or any benefit or interest
herein without the prior written consent of the other party. In the event of the incapacity or death of Seller, his guardian, executor,
or heirs shall be entitled to any funds otherwise due Seller under this Agreement. Any attempted assignment or delegation of any
rights, duties, or obligations in violation of this Section 9.2 will be invalid and without effect.

 

9.3           Governing
Law; Venue. This Agreement shall be governed by and construed under the laws of the State of Georgia without regard to its
principles of conflicts of laws. In any action or arbitration proceeding brought by any party hereto to enforce the rights and
obligations of the parties set forth in this Agreement, the prevailing party shall be awarded its reasonable costs in bringing,
prosecuting, or defending such action or proceeding (including reasonable attorneys’ fees) in addition to any award granted
by the court or arbitrator.

 

9.4           Notices.
All notices, requests, demands, claims and other communications hereunder shall be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly given: (i) when delivered personally to the recipient; (ii) one
(1) Business Day after being sent to the recipient by reputable overnight courier service (charges prepaid); (iii) when sent
to the recipient by confirmed facsimile or email transmission; or (iv) five (5) Business Days after being mailed to the recipient
by certified or registered mail, return receipt requested and postage prepaid, and in each case addressed to the appropriate address
indicated below, or such other address as may be given in a notice sent by a party to the other party in accordance with this Section 9.4.

 

In the case of Buyer:

Ameris Bancorp

1301 Riverplace Boulevard

Suite 2600

Jacksonville, Florida 32207

Attn: Dennis J. Zember Jr.

Facsimile: (229) 890-2235

Email: dennis.zember@amerisbank.com

 

with a copy (which shall not
constitute notice to Buyer) to:

 

Rogers & Hardin LLP

2700 International Tower

229 Peachtree Street, N.E.

Atlanta, Georgia 30303

Attn: Jody L. Spencer

Facsimile: (404) 230-0972

Email: jspencer@rh-law.com

 

    15

     

    

 

In the case of Seller:

Mr.  William J. Villari

2065 East Lake Road

Atlanta, Georgia 30307

Email: wvillari@gmail.com

 

with a copy (which shall not
constitute notice to Seller) to:

Vedder Price P.C.

222 North LaSalle Street

Chicago, Illinois 60601

Attn: Marc L. Klyman, Esq.

Facsimile: (312) 609-5005

Email: mklyman@vedderprice.com

 

9.5           Further
Assurances. Each party agrees to execute and deliver such other documents and to take such other actions as may reasonably
be necessary to give full effect to the purposes and intent of this Agreement and its terms and conditions.

 

9.6           Entire
Agreement; Severability; Amendment. This Agreement, including any attachments, schedules, addendums, and exhibits, constitutes
the entire agreement between the parties with respect to the subject matter hereof and states the entire agreement of the parties
with respect to the subject matter hereof. If any provision of this Agreement is held to be invalid or unenforceable to any extent,
the remainder of this Agreement will continue to have full force and effect, and such provision will be interpreted or reformed
to the extent reasonably required to render the same provision valid and enforceable, consistent with the original intent underlying
such provision. This Agreement may only be amended, changed, or modified in a writing executed by the parties.

 

9.7           Waivers;
Delays or Omissions; Cumulative Remedies. No waiver of any breach of this Agreement extended by any party shall be construed
as a waiver of any rights or remedies with respect to any subsequent breach. It is agreed that no delay or omission to exercise
any right, power, or remedy accruing to a party under this Agreement, upon any breach, default, or noncompliance by the other party,
shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default, or noncompliance,
or any acquiescence therein, or of or in any similar breach, default, or noncompliance thereafter occurring. It is further agreed
that any waiver, permit, consent, or approval of any kind or character on any party’s part of any breach, default, or noncompliance
under this Agreement or any waiver on such party’s part of any provisions or conditions of the Agreement must be in a writing
executed by the parties and shall be effective only to the extent specifically set forth in such writing. All remedies, either
under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

    16

     

    

 

9.8           Construction.
In this Agreement, including any attachments, schedules, and exhibits, unless otherwise expressly indicated or required by the
context: (a) the words “including” or “includes” shall be deemed to mean “including without
limitation” and “including but not limited to” (or “includes without limitation” and “includes
but is not limited to”) regardless of whether the words “without limitation” or “but not limited to”
actually follow the term; (b) the words “hereof,” “herein” and “hereunder” and words of
similar import shall refer to this Agreement as a whole and not to any particular provision of this Agreement, as the case may
be; (c) no inference in favor of, or against, any party shall be drawn from the fact that one party has drafted any portion
of this Agreement; (d) the rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be applied to the interpretation of any terms and conditions of this Agreement; (e) the definitions in this
Agreement shall apply equally to both the singular and plural forms of the terms defined; (f) any pronoun shall include the
corresponding masculine, feminine and neuter forms; (g) the word “or” shall not be exclusive; (h) all references
herein to articles, sections, schedules and exhibits shall be deemed references to articles and sections of, and schedules and
exhibits to, this Agreement unless the context shall otherwise require; and (i) any references to any agreement or other instrument
or any law, rule or regulation are to such agreement, instrument, law, rule or regulation as the same may be amended and supplemented
from time to time (and, in the case of any law, rule or regulation, to any successor provisions).

 

9.9           Counterparts.
This Agreement may be executed and delivered simultaneously in multiple counterparts (including delivery by way of electronic or
facsimile transmission), each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

 

9.10         Titles
and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not
to be considered in construing this Agreement.

 

9.11         Payments.
All payments by Seller or Buyer to the other party pursuant to this Agreement shall be made by wire transfer of immediately available
funds in U.S. dollars.

 

9.12         Arbitration.
Notwithstanding any reference in this Agreement to an arbitrator or an arbitration proceeding, no party hereto shall be deemed
to have agreed to enter into or participate or be bound by any arbitration unless such party separately and specifically so agrees
in writing.

 

[The remainder of this page intentionally
left blank]

 

    17

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement effective as of the date first set forth above, each of the undersigned represents and
warrants that he, she, or it has the right to execute this Agreement on behalf of the indicated party.

 

	 	“Buyer”
	 	 
	 	AMERIS BANCORP, a Georgia corporation
	 	 	 
	 	By:	/s/ Dennis J. Zember Jr.
	 	Name: 	Dennis
J. Zember Jr.
	 	Title: 	EVP, COO and CFO
	 	 
	 	“Seller”
	 	 
	 	WILLIAM J. VILLARI, an individual resident of the State of Georgia
	 	 	 
	 	Sign:	/s/ William J. Villari

 

    18

     

    

 

APPENDIX
OF DEFINED TERMS

 

“Adverse Effect”
means, with respect to a Person, any event, occurrence or change that is materially adverse to the business, assets, properties,
financial condition or results of operations of such Person, other than events, occurrences or changes directly or indirectly arising
out of, resulting from or attributable to any of the following: (i) changes or conditions generally affecting the industries
or segments in which such Person and its Affiliates operate; (ii) changes in general economic or political conditions; (iii) changes
in financial, banking or securities markets in general, including any disruption thereof and any change in prevailing interest
rates; (iv) changes in Legal Requirements or applicable accounting regulations or principles or interpretations thereof; (v) any
outbreak or escalation of hostilities or war or any act of terrorism; (vi) any natural or man-made disaster or acts of God;
or (vii) the announcement, pendency or completion of the transactions contemplated by this Agreement.

 

“Affiliate”
means (i) a Person that, directly or indirectly, through one or more intermediaries, controls or is controlled by or is controlled
by a Person that controls, such Person, (ii) any trust or estate in which such Person has a beneficial interest or as to which
such Person serves as a trustee or in another fiduciary capacity or (iii) any spouse, parent or lineal descendent of such
Person. As used in this definition, “control” means possession, directly or indirectly, of the power to direct or cause
the direction of management or policies, whether through ownership of securities, partnership or other ownership interests, by
contract or otherwise.

 

“Agreement”
means this Stock Purchase Agreement and the Appendix hereto.

 

“Ameris”
means Ameris Bank, a Georgia state-chartered bank and wholly owned subsidiary of Buyer.

 

“Balance Sheet
Date” has the meaning set forth in Section 5.8(a).

 

“Business
Day” means a day, other than a Saturday or a Sunday, on which banks in Atlanta, Georgia are open for business.

 

“Buyer”
has the meaning set forth in the preamble to this Agreement.

 

“Claim”
has the meaning set forth in Section 8.4(a).

 

“Claim Notice”
has the meaning set forth in Section 8.4(a).

 

“Closing”
has the meaning set forth in Section 4.1.

 

“Closing Date”
has the meaning set forth in Section 4.1.

 

“Contemplated
Transactions” means the purchase by Buyer, and the sale by Seller, of the Designated USPF Shares, and the issuance by
Buyer to Seller of the Designated Ameris Shares in exchange therefor, all as contemplated by this Agreement.

 

“Damages”
means all losses, claims, damages, diminution in value, Liabilities, Taxes, fines, penalties, assessments, judgments, costs and
other expenses (including costs of investigation and defense and reasonable attorneys’ fees) whether or not involving a third-party
claim, of any nature and of any kind whatsoever.

 

    Appendix – Page A-1

     

    

 

“Designated
Ameris Shares” has the meaning set forth in Section 3.

 

“Designated
USPF Shares” has the meaning set forth in Section 2.

 

“Encumbrance”
means any charge, claim, condition, equitable interest, lien, encumbrance, option, pledge, right of refusal, right of first offer,
option, mortgage, deed of trust, title defect, security interest or restriction of any kind, including any restriction on use,
voting, transfer, receipt of income or exercise of any other attribute of ownership.

 

“Exchange
Act” has the meaning set forth in Section 6.4.

 

“Governmental
Body” means any (i) nation, state, county, city, town, village, district or other jurisdiction of any nature, (ii) federal,
state, local, municipal, foreign or other governmental organization or body, (iii) governmental or quasi-governmental authority
of any nature (including any governmental agency, branch, department, official or entity and any court or other tribunal), (iv) multi-national
organization or body, or (v) body exercising, or entitled to exercise, any administrative, executive, judicial, legislative,
police, regulatory or taxing authority or power of any nature.

 

“Indemnified
Party” has the meaning set forth in Section 8.4(a).

 

“Indemnifying
Party” has the meaning set forth in Section 8.4(a).

 

“Knowledge”
has the following meaning: (i) an individual will be deemed to have Knowledge of a particular fact or other matter if that
individual is actually aware of that fact or matter; and (ii) a Person (other than an individual) will be deemed to have Knowledge
of a particular fact or other matter if any individual who is serving as an executive officer, executor or trustee of that Person
(or in any similar capacity) has Knowledge of that fact or other matter (as set forth in the immediately preceding clause (i)).

 

“Legal Requirement”
means any applicable federal, state, local, municipal, foreign, international, multinational or other administrative Order, constitution,
law, ordinance, principle of common law, rule, regulation, statute or treaty as in effect on the date of this Agreement.

 

“Liability”
means debts, obligations, duties or liabilities of every type and trade, known or unknown, accrued or unaccrued, liquidated or
unliquidated, matured or unmatured, determined, determinable, fixed, contingent, absolute or otherwise.

 

“Management
and License Agreement” means the Management and License Agreement, dated as of December 15, 2016, among Seller,
USPF and Ameris.

 

“NASDAQ”
shall mean the Nasdaq Global Select Market.

 

“Non-Voting
Common Stock” has the meaning set forth in the recitals to this Agreement.

 

    Appendix – Page A-2

     

    

 

“Order”
means any award, decision, injunction, judgment, decree, subpoena, ruling, charge, order or verdict entered, issued, as made or
rendered by any court, administrative agency or other Governmental Body or by any arbitrator.

 

“Person”
means any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability partnership
or company, firm, joint venture, association, joint-stock company, estate, trust, unincorporated organization, labor union or other
governmental or regulatory body or entity.

 

“Proceeding”
shall mean any judicial, administrative or arbitral actions, suits or proceedings (public or private) by or before any Governmental
Body or before any arbitrator, mediator or other alternative dispute resolution provider pursuant to any collective bargaining
agreement, contractual agreement or Legal Requirement, and including any audit or examination, or other administrative or court
proceeding with respect to Taxes or Tax Returns.

 

“Registration
Rights Agreement” means the Registration Rights Agreement, to be entered into and dated as of the Closing Date, between
Seller and Buyer, substantially in the form attached hereto as Exhibit B.

 

“SEC”
has the meaning set forth in Section 5.13.

 

“SEC Reports”
has the meaning set forth in Section 6.4.

 

“Securities
Act” has the meaning set forth in Section 5.13.

 

“Seller”
has the meaning set forth in the preamble to this Agreement.

 

“Shareholders
Agreement” means the Shareholders Agreement, to be entered into and dated as of the Closing Date, by and among Seller,
USPF, The Villari Family Gift Trust and Buyer, substantially in the form attached hereto as Exhibit A.

 

“Tax”
means any tax or taxes, however denominated, including income tax, capital gains tax, value-added tax, sales tax, property tax,
gift tax, estate tax, capital stock, franchise, profits, withholding, social security (or similar), unemployment, disability, sales,
use, transfer, registration, alternative or add-on minimum, estimated or other tax of any kind whatsoever and any related charge
or amount (including any fine, penalty, interest or addition to tax), imposed, assessed or collected by or under the authority
of any Governmental Body or payable pursuant to any tax-sharing agreement or any other arrangement relating to the sharing or payment
of any such tax, levy, assessment, tariff, duty, deficiency or fee, including any interest, penalty or addition thereto, whether
disputed or not.

 

“Tax Returns”
means any return (including any information return), report, declaration of estimated Taxes, statement, schedule, notice, form
or other document or information filed with or submitted to, or required to be filed with or submitted to, any Governmental Body
in connection with the determination, assessment, collection or payment of any Tax or in connection with the administration, implementation
or enforcement of or compliance with any Legal Requirement relating to any Tax.

 

    Appendix – Page A-3

     

    

 

“Third Party
Claim” has the meaning set forth in Section 8.4(a).

 

“Transaction
Documents” means this Agreement, the Management and License Agreement, the Registration Rights Agreement and the Shareholders
Agreement, and any agreement to which both Buyer and Seller (or to which both Buyer and Ameris) become parties on or before the
Closing Date.

 

“USPF”
has the meaning set forth in the recitals to this Agreement.

 

“USPF Balance
Sheet” has the meaning set forth in Section 5.8(a).

 

“USPF Common
Stock” has the meaning set forth in the recitals to this Agreement.

 

“USPF Financial
Statements” has the meaning set forth in Section 5.8(a).

 

“USPF Subsidiaries”
has the meaning set forth in Section 5.4.

 

“Voting Common
Stock” has the meaning set forth in the recitals to this Agreement.

 

    Appendix – Page A-4

     

    

 

EXHIBIT A

 

ShAreholders
Agreement

 

among

 

US PREMIUM
FINANCE HOLDING COMPANY

 

and

 

the Shareholders
named herein

 

dated as of

 

January 3, 2017

 

     

     

    

 

TABLE OF CONTENTS

 

	Article I Definitions	1
	 	 
	Article II Management and Operation of the Company	6
	 	 
	Section 2.01 Board of Directors	6
	 	 
	Section 2.02 Meetings of the Board of Directors	7
	 	 
	Section 2.03 Voting Arrangements	8
	 	 
	Article III Transfer of Interests	9
	 	 
	Section 3.01 General Restrictions on Transfer	9
	 	 
	Section 3.02 Drag-along Rights	10
	 	 
	Section 3.03 Tag-along Rights	12
	 	 
	Section 3.04 Ameris Purchase of Villari Shares	14
	 	 
	Article IV Preemptive Rights	16

 

	Section 4.01 Preemptive Right	16
	 	 
	Article V Information Rights	18
	 	 
	Section 5.01 Financial Statements	18
	 	 
	Section 5.02 Inspection Rights	18
	 	 
	Article VI Term and Termination	19
	 	 
	Section 6.01 Termination	19
	 	 
	Section 6.02 Effect of Termination	19
	 	 
	Article VII Miscellaneous	19
	 	 
	Section 7.01 Expenses	19
	 	 
	Section 7.02 Release of Liability	19
	 	 
	Section 7.03 Notices	20
	 	 
	Section 7.04 Interpretation	21
	 	 
	Section 7.05 Headings	21
	 	 
	Section 7.06 Severability	22
	 	 
	Section 7.07 Entire Agreement	22
	 	 
	Section 7.08 Successors and Assigns	22
	 	 
	Section 7.09 No Third-party Beneficiaries	22
	 	 
	Section 7.10 Amendment and Modification; Waiver	22
	 	 
	Section 7.11 Governing Law	22
	 	 
	Section 7.12 Equitable Remedies	22
	 	 
	Section 7.13 Counterparts	23
	 	 
	Section 7.14 Arbitration	23
	 	 
	Section 7.15 Confidentiality	23

 

    i

     

    

 

Shareholders
Agreement

 

This Shareholders Agreement
(this “Agreement”), dated as of January 3, 2017, is entered into among US Premium Finance Holding Company, a
Florida corporation (the “Company”), William J. Villari, an individual resident of the State of Georgia (“Villari”),
Ameris Bancorp, a Georgia corporation (“Ameris” and, together with Villari, the “Division Shareholders”),
and The Villari Family Gift Trust (such Person, collectively with the Division Shareholders, the “Shareholders”).

 

RECITALS

 

WHEREAS,
as of the date hereof, the outstanding Common Stock is owned by the Shareholders as set forth on Exhibit A attached hereto
and incorporated herein by this reference; and

 

WHEREAS,
the Shareholders deem it in their best interests and in the best interests of the Company to set forth in this Agreement their
respective rights and obligations in connection with their investment in the Company;

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Article
I 

Definitions

 

Capitalized terms used
herein and not otherwise defined shall have the meanings set forth in this Article I.

 

“ABCB Stock”
means the common stock, par value $1.00 per share, of Ameris.

 

“Affiliate” means
with respect to any Person, any other Person who, directly or indirectly (including through one or more intermediaries), controls,
is controlled by, or is under common control with, such Person. For purposes of this definition, “control,” when used
with respect to any specified Person, shall mean the power, direct or indirect, to direct or cause the direction of the management
and policies of such Person, whether through ownership of voting securities or partnership or other ownership interests, by contract
or otherwise; and the terms “controlling” and “controlled” shall have correlative meanings.

 

“Agreement” has
the meaning set forth in the preamble.

 

“Ameris” has
the meaning set forth in the preamble.

 

“Ameris Director” has
the meaning set forth in Section 2.01(a).

 

“Applicable
Law” means all applicable provisions of (a) constitutions, treaties, statutes, laws (including the common law),
rules, regulations, decrees, ordinances, codes, proclamations, declarations or orders of any Governmental Authority, (b) any consents
or approvals of any Governmental Authority and (c) any orders, decisions, advisory or interpretative opinions, injunctions, judgments,
awards, decrees of, or agreements with, any Governmental Authority.

 

     

     

    

 

“Asset Transfer”
means with respect to an entity (or portion thereof), a sale, lease or other disposition of all or substantially all of the
assets of such entity (or portion thereof).

 

“Average ABCB
Stock Price” has the meaning set forth in Section 3.04(a).

 

“Board” has
the meaning set forth in Section 2.01(a).

 

“Business” means
the business of soliciting, originating, servicing, administering and collecting: (i) loans made for purposes of funding insurance
premiums; and (ii) other loans made to Persons engaged in the insurance business.

 

“Business
Day” means a day other than a Saturday, Sunday or other day on which commercial banks in Atlanta, Georgia are authorized
or required to close.

 

“Bylaws” means
the bylaws of the Company, as amended, modified, supplemented or restated from time to time in accordance with the terms of this
Agreement.

 

“Certificate
of Incorporation” means the certificate of incorporation of the Company, as filed with the Department of State of
the State of Florida and as amended, modified, supplemented or restated from time to time in accordance with the terms of this
Agreement.

 

“Change of
Control” means any transaction or series of related transactions (as a result of a tender offer, merger, consolidation
or otherwise) that results in, or that is in connection with, (a) any Third-Party Purchaser or “group” (within the
meaning of Section 13(d)(3) of the Exchange Act) of Third-Party Purchasers acquiring beneficial ownership, directly or indirectly,
of a majority of the then issued and outstanding Common Stock or (b) the sale, lease, exchange, conveyance, transfer or other disposition
(for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Company
and its subsidiaries (if any), on a consolidated basis, to any Third-Party Purchaser or “group” (within the meaning
of Section 13(d)(3) of the Exchange Act) of Third-Party Purchasers (including any liquidation, dissolution or winding up of the
affairs of the Company, or any other distribution made, in connection therewith).

 

“Common Stock” means,
collectively, the Voting Common Stock and the Non-Voting Common Stock; provided, however, that if the context otherwise
requires, or as necessary for consistency of reference or application under the circumstances, “Common Stock” may refer
to either of the Voting Common Stock or the Non-Voting Common Stock.

 

“Company” has
the meaning set forth in the preamble.

 

“Designated
Ameris Shares” has the meaning set forth in the Prior Stock Purchase Agreement.

 

“Director” has
the meaning set forth in Section 2.01(a).

 

    2

     

    

 

“Division”
has the meaning set forth in the Management Agreement.

 

“Division
Shareholders” has the meaning set forth in the preamble.

 

“Drag-Along
Notice” has the meaning set forth in Section 3.02(b).

 

“Drag-Along
Sale” has the meaning set forth in Section 3.02(a).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules and
regulations thereunder, which shall be in effect at the time.

 

“Excluded
Securities” means any Common Stock or other equity securities issued in connection with: (a) a grant to any existing
or prospective consultants, employees, officers or Directors pursuant to any stock option, employee stock purchase or similar equity-based
plans or other compensation agreement; (b) the exercise or conversion of options to purchase shares of Common Stock, or shares
of Common Stock issued to any existing or prospective consultants, employees, officers or Directors pursuant to any stock option,
employee stock purchase or similar equity-based plans or any other compensation agreement; (c) any acquisition by the Company of
the stock, assets, properties or business of any Person; (d) any merger, consolidation or other business combination involving
the Company; (e) the commencement of any Initial Public Offering or any transaction or series of related transactions involving
a Change of Control; (f) a stock split, stock dividend or any similar recapitalization; or (g) any issuance of Financing Equity
where such Financing Equity, together with all then outstanding Financing Equity, is not equal to, and is not convertible into,
an aggregate of more than five percent (5%) of the outstanding Common Stock on a fully diluted basis at the time of the issuance
of such Financing Equity, in each case, approved in accordance with the terms of this Agreement.

 

“Exercise
Period” has the meaning set forth in Section 4.01(c).

 

“Exercising
Shareholder” has the meaning set forth in Section 4.01(d).

 

“Financing
Equity” means any Common Stock, warrants or other similar rights to purchase Common Stock issued to lenders or other
institutional investors (excluding the Shareholders) in any arm’s length transaction providing debt financing to the Company.

 

“Fiscal Year” means
for financial accounting purposes, January 1 to December 31.

 

“Fundamental
Matter” means any of the actions specified in Section 2.03(b)(i), Section 2.03(h) or Section 2.03(i).

 

“GAAP” means
United States generally accepted accounting principles in effect from time to time.

 

“Government
Approval” means any authorization, consent, approval, waiver, exception, variance, order, exemption, publication,
filing, declaration, concession, grant, franchise, agreement, permission, permit, or license of, from or with any Governmental
Authority, the giving notice to, or registration with, any Governmental Authority or any other action in respect of any Governmental
Authority.

 

    3

     

    

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency
or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory
authority or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority
have the force of law), or any arbitrator, court or tribunal of competent jurisdiction.

 

“Information” has
the meaning set forth in Section 7.15(a).

 

“Initial Public
Offering” means any offering of Common Stock pursuant to a registration statement filed in accordance with the Securities
Act.

 

“Issuance
Notice” has the meaning set forth in Section 4.01(b).

 

“Lien” means
any lien, claim, charge, mortgage, pledge, security interest, option, preferential arrangement, right of first offer, encumbrance
or other restriction or limitation of any nature whatsoever.

 

“Management
Agreement” means that certain Management and License Agreement, dated as of December 15, 2016, by and among Villari,
the Company and Ameris Bank, a Georgia state-chartered bank and wholly owned subsidiary of Ameris.

 

“New Ameris
Shares” has the meaning set forth in Section 3.04(a).

 

“New Securities” has
the meaning set forth in Section 4.01(a).

 

“Non-Exercising
Shareholder” has the meaning set forth in Section 4.01(d).

 

“Non-Voting
Common Stock” means the non-voting common stock, no par value per share, of the Company and any securities issued by
the Company in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any
reclassification, recapitalization, merger, consolidation, exchange or similar reorganization.

 

“Organizational
Documents” means the Bylaws and the Certificate of Incorporation.

 

“Over-Allotment
Exercise Period” has the meaning set forth in Section 4.01(d).

 

“Over-Allotment
New Securities” has the meaning set forth in Section 4.01(d).

 

“Over-Allotment
Notice” has the meaning set forth in Section 4.01(d).

 

“Permitted
Transferee” means with respect to any Shareholder, (i) any Affiliate of such Shareholder, (ii) such Shareholder’s
spouse, parents, siblings and descendants (by blood or adoption), and the spouse, parents, siblings and descendants (by blood or
adoption) of such spouses, parents, siblings and descendants (by blood or adoption), and any family partnership, trust or other
entity where any one or more of such Persons described in the immediately preceding clause (i) or this clause (ii) are the sole
beneficial owners or beneficiaries, or (iii) upon the death of any Shareholder, such Shareholder’s estate, administrator
or executor, provided that under the terms of such Shareholder’s will or under the applicable laws of intestate succession,
such Shareholder’s Common Stock is to be Transferred solely to one or more Permitted Transferees as otherwise defined herein.

 

    4

     

    

  

“Person” means
an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization,
trust, association or other entity.

 

“Preemptive
Pro Rata Portion” has the meaning set forth in Section 4.01(c).

 

“Preemptive
Shareholder” has the meaning set forth in Section 4.01(a).

 

“Prior Registration
Rights Agreement” means that certain Registration Rights Agreement, dated as of January 3, 2017, by and between Villari
and Ameris.

 

“Prior Stock
Purchase Agreement” means that certain Stock Purchase Agreement, dated as of December 15, 2016, by and between Villari
and Ameris, relating to the purchase of shares of Common Stock by Ameris from Villari.

 

“Proposed
Transferee” has the meaning set forth in Section 3.03(a).

 

“Representative” means,
with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants and
other agents of such Person.

 

“Sale Notice” has
the meaning set forth in Section 3.03(b).

 

“Securities
Act” means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations
thereunder, which shall be in effect at the time.

 

“Shareholders” has
the meaning set forth in the preamble.

 

“Supermajority
Approval” means, with respect to any matter that must be approved by the Board, (a) the affirmative vote at a meeting
of the Board of at least eighty percent (80%) of the Directors or (b) the unanimous written consent of the entire Board in lieu
of a meeting.

 

“Tag-Along
Notice” has the meaning set forth in Section 3.03(c).

 

“Tag-Along
Period” has the meaning set forth in Section 3.03(c).

 

“Tag-Along
Sale” has the meaning set forth in Section 3.03(a).

 

“Third-Party
Purchaser” means any Person who, immediately prior to the contemplated transaction, (a) does not directly or indirectly
own or have the right to acquire any outstanding Common Stock or (b) is not a Permitted Transferee of any Person who directly or
indirectly owns or has the right to acquire any Common Stock.

 

    5

     

    

 

“Transfer” means
to, directly or indirectly, sell, transfer, assign, pledge, encumber, hypothecate or similarly dispose of, either voluntarily or
involuntarily, or to enter into any contract, option or other arrangement or understanding with respect to the sale, transfer,
assignment, pledge, encumbrance, hypothecation or similar disposition of, any Common Stock owned by a Person or any interest (including
a beneficial interest) in any Common Stock owned by a Person.

 

“Villari” has
the meaning set forth in the preamble.

 

“Villari Director” has
the meaning set forth in Section 2.01(a).

 

“Villari Shares” has
the meaning set forth in Section 3.04(a).

 

“Voting Common
Stock” means the voting common stock, no par value per share, of the Company and any securities issued by the Company
in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification,
recapitalization, merger, consolidation, exchange or similar reorganization.

 

Article
II 

Management and Operation of the Company

 

Section
2.01         Board of Directors.

 

(a)          The
Shareholders agree that the business and affairs of the Company shall be managed through a board of directors (the “Board”)
consisting of five (5) members (each, a “Director”); provided, however, that such number of Directors
shall be increased to six (6) automatically and without further action upon Ameris becoming the owner of thirty percent (30%) of
the Common Stock. The Directors shall be elected to the Board in accordance with the following procedures:

 

(i)          Villari
shall have the right to designate four (4) Directors, who shall initially be Villari, Mark Bell, Chris Howard and Doug Shumate
(the “Villari Directors”); and

 

(ii)         Ameris
shall have the right to designate one (1) Director, who shall initially be Dennis Zember (the “Ameris Director”);
provided, however, that upon Ameris becoming the owner of thirty percent (30%) of the Common Stock, Ameris shall have the
right to designate one (1) additional Director and the number of Ameris Directors shall be increased to a total of two (2) Directors.

 

(b)          Each
Shareholder shall vote all shares of Common Stock over which such Shareholder has voting control and shall take all other necessary
or desirable actions within such Shareholder’s control (including in its capacity as shareholder, director, member of a
board committee or officer of the Company or otherwise, and whether at a regular or special meeting of the Shareholders or by
written consent in lieu of a meeting) to elect to the Board any individual designated by a Division Shareholder pursuant to Section
2.01(a). Notwithstanding anything to the contrary in this Agreement, no Shareholder shall be required to elect to the Board
any individual who is a competitor (or an Affiliate or Representative of any such competitor) of: (i) the Division (as defined
in the Management Agreement); (ii) any Shareholder; or (iii) an Affiliate of any Shareholder.

 

    6

     

    

 

(c)          Each
Division Shareholder shall have the right at any time to remove (with or without cause) any Director designated by such Division
Shareholder for election to the Board and each other Shareholder shall vote all shares of Common Stock over which such Shareholder
has voting control and shall take all other necessary or desirable actions within such Shareholder’s control (including
in its capacity as shareholder, director, member of a board committee or officer of the Company or otherwise, and whether at a
regular or special meeting of the Shareholders or by written consent in lieu of a meeting) to remove from the Board any individual
designated by such Division Shareholder that such Division Shareholder desires to remove pursuant to this Section 2.01.
Except as provided in the preceding sentence, unless a Division Shareholder shall otherwise consent in writing, no other Shareholder
shall take any action to cause the removal of any Directors designated by a Division Shareholder.

 

(d)          In
the event a vacancy is created on the Board at any time and for any reason (whether as a result of death, disability, retirement,
resignation or removal of an individual pursuant to Section 2.01(c)), the Division Shareholder who designated such individual
shall have the right to designate a different individual to replace such Director and each other Shareholder shall vote all shares
of Common Stock over which such Shareholder has voting control and shall take all other necessary or desirable actions within
such Shareholder’s control (including in its capacity as shareholder, director, member of a board committee or officer of
the Company or otherwise, and whether at a regular or special meeting of the Shareholders or by written consent in lieu of a meeting)
to elect to the Board any individual designated by such Division Shareholder.

 

(e)          The
Board shall have the right to establish any committee of Directors as the Board shall deem appropriate from time to time. Subject
to this Agreement, the Organizational Documents and Applicable Law, committees of the Board shall have the rights, powers and
privileges granted to such committee by the Board from time to time. Any delegation of authority to a committee of Directors to
take any action must be approved in the same manner as would be required for the Board to approve such action directly. Any committee
of Directors shall be composed of the same proportion of Villari Directors and Ameris Directors as the Division Shareholders shall
then be entitled to appoint to the Board pursuant to this Section 2.01; provided, that for so long as Ameris has
the right to designate a Director to the Board, any committee composed of Directors shall consist of at least one Ameris Director.

 

Section
2.02         Meetings of the Board of Directors.

 

(a)          The
Board will meet no less than two (2) times a year at such times and in such places as the Board shall designate from time to time.
In addition to the regular meetings contemplated by the foregoing sentence, special meetings of the Board may be called by any
Director or Division Shareholder on no less than three (3) Business Days’ prior written notice of the time, place and agenda
of the meeting.

 

(b)          The
Directors may participate in any meeting of the Board by means of video conference, teleconference or other similar communications
equipment by means of which all persons participating in the meeting can hear each other and such participation shall constitute
such Director’s presence in person at the meeting.

 

(c)          The
presence of a majority of Directors then in office shall constitute a quorum; provided, that at least one Ameris Director
is present at such meeting. If a quorum is not achieved at any duly called meeting, such meeting may be postponed to a time no
earlier than 48 hours after written notice of such postponement has been given to the Directors.

 

(d)          Unless
otherwise restricted by this Agreement, any action required or permitted to be taken at any meeting of the Board or of any committee
thereof may be taken without a meeting if all directors or members of such committee, as the case may be, consent thereto in writing
or by electronic transmission, and the writings or electronic transmissions are filed with the minutes of proceedings of the Board
of Directors or committee.

 

    7

     

    

 

Section 2.03         Voting
Arrangements. In addition to any vote or consent of the Board or the Shareholders required by Applicable Law, without Supermajority
Approval the Company shall not, and shall not enter into any commitment to:

 

(a)          amend,
modify or waive the Certificate of Incorporation or Bylaws;

 

(b)          (i)
make any material change to the nature of the Business conducted by the Company or (ii) enter into any business other than the
Business;

 

(c)          (i)
issue or sell Common Stock or other equity securities of the Company to any Person or (ii) enter into or effect any transaction
or series of related transactions involving the repurchase, redemption or other acquisition of Common Stock from any Person, other
than, in each case relating to clause (i) or clause (ii), any Excluded Securities approved in accordance with the terms of this
Agreement, or as otherwise contemplated by the terms of this Agreement;

 

(d)          appoint
or remove the Company’s auditors or make any changes in the accounting methods or policies of the Company (other than as
required by GAAP);

 

(e)          enter
into or effect any transaction or series of related transactions involving the purchase, lease, license, exchange or other acquisition
(including by merger, consolidation, acquisition of stock or acquisition of assets) by the Company of any assets and/or equity
interests of any Person;

 

(f)          except
for a Change of Control effected in accordance with Section 3.02, enter into or effect any transaction or series of related
transactions involving the sale, lease, license, exchange or other disposition (including by merger, consolidation, sale of stock
or sale of assets) by the Company of any assets;

 

(g)          establish
a subsidiary or enter into any joint venture or similar business arrangement;

 

(h)          initiate
or consummate an Initial Public Offering or make a public offering and sale of Common Stock or any other securities; or

 

(i)          dissolve,
wind-up or liquidate the Company or initiate a bankruptcy proceeding involving the Company.

 

Article
III 

Transfer of Interests

 

Section
3.01         General Restrictions on Transfer.

 

(a)          Except
as permitted pursuant to Section 3.01(b) or in accordance with the procedures described in Section 3.02, Section
3.03 or Section 3.04, each Shareholder agrees that such Shareholder will not, directly or indirectly, voluntarily or
involuntarily Transfer any of its Common Stock.

 

(b)          The
provisions of Section 3.01(a), Section 3.02 and Section 3.03 shall not apply to any of the following Transfers
by any Shareholder of any of its Common Stock:

 

(i)          to
a Permitted Transferee; or

 

    8

     

    

 

(ii)         pursuant
to a merger, consolidation or other business combination of the Company that has been approved in compliance with Section 2.03(f).

 

(c)          In
addition to any legends required by Applicable Law, each certificate representing the Common Stock of the Company shall bear a
legend substantially in the following form:

 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO A SHAREHOLDERS AGREEMENT (A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY). NO TRANSFER,
SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF SUCH SHAREHOLDERS AGREEMENT AND (A) PURSUANT TO A REGISTRATION STATEMENT EFFECTIVE UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER. THE HOLDER OF THIS CERTIFICATE,
BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF SUCH SHAREHOLDERS AGREEMENT.”

 

(d)          Prior
notice shall be given to the Company by the transferor of any Transfer (whether or not to a Permitted Transferee) of any Common
Stock. Prior to consummation of any Transfer by any Shareholder of any of its Common Stock, such party shall cause the transferee
thereof to execute and deliver to the Company a joinder agreement in form and substance satisfactory to the Company and the non-transferring
Shareholders, whereby such party agrees to be bound by the terms and conditions of this Agreement. Upon any Transfer by any Shareholder
of any of its Common Stock, in accordance with the terms of this Agreement, the transferee thereof shall be substituted for, and
shall assume all the rights and obligations under this Agreement of, the transferor thereof, to the extent relating to the Common
Stock that has been so transferred.

 

(e)          Notwithstanding
any other provision of this Agreement, each Shareholder agrees that it will not, directly or indirectly, Transfer any of its Common
Stock (i) except as permitted under the Securities Act and other applicable federal or state securities laws, and then, if requested
by the Company, only upon delivery to the Company of an opinion of counsel in form and substance satisfactory to the Company to
the effect that such Transfer may be effected without registration under the Securities Act, (ii) if it would cause the Company
or any of its subsidiaries to be required to register as an investment company under the Investment Company Act of 1940, as amended,
or (iii) if it would cause the assets of the Company or any of its subsidiaries to be deemed plan assets as defined under the
Employee Retirement Income Security Act of 1974 or its accompanying regulations or result in any “prohibited transaction”
thereunder involving the Company. In any event, the Board may refuse the Transfer to any Person if such Transfer would have a
material adverse effect on the Company as a result of any regulatory or other restrictions imposed by any Governmental Authority.

 

(f)          Any
Transfer or attempted Transfer of any Common Stock in violation of this Agreement shall be null and void, no such Transfer shall
be recorded on the Company’s books and the purported transferee in any such Transfer shall not be treated (and the purported
transferor shall continue be treated) as the owner of such Common Stock for all purposes of this Agreement.

 

Section
3.02         Drag-Along Rights.

 

(a)          If
at any time Villari, while holding (together with his Affiliates) at least a majority of the outstanding Common Stock of the Company,
receives a bona fide offer from a Third-Party Purchaser to consummate, in one transaction, or a series of related transactions,
a Change of Control (a “Drag-Along Sale”), Villari shall have the right to require that Ameris participate
in such Transfer in the manner set forth in this Section 3.02, provided, however, that Ameris shall not be
required to participate in the Drag-Along Sale if the consideration for the Drag-Along Sale is other than cash or registered securities
listed on an established U.S. securities exchange or traded on the NASDAQ Stock Market.

 

    9

     

    

 

(b)          Villari
shall exercise his rights pursuant to this Section 3.02 by delivering a written notice (the “Drag-Along Notice”)
to Ameris at least thirty (30) days prior to the closing date of such Drag-Along Sale. The Drag-Along Notice shall make reference
to Villari’s rights and obligations hereunder, shall include a copy (which may be in draft form) of any stock purchase,
merger or other acquisition agreement proposed to be executed by Villari or the Company in connection therewith, and a copy (which
may be in draft form) of any agreement proposed to be executed by Ameris in connection therewith, and shall describe in reasonable
detail:

 

(i)          the
number of shares of Common Stock to be sold by Villari, if the Drag-Along Sale is structured as a Transfer of Common Stock;

 

(ii)         the
identity of the Third-Party Purchaser;

 

(iii)        the
proposed date, time and location of the closing of the Drag-Along Sale; and

 

(iv)        the
per share purchase price and the other material terms and conditions of the Transfer, including a description of any non-cash
consideration in sufficient detail to permit the valuation thereof.

 

(c)          If
the Drag-Along Sale is structured as a Transfer of Common Stock, then, subject to Section 3.02(d), Villari and Ameris shall
Transfer to the Third-Party Purchaser the number of shares equal to the product of (x) the aggregate number of shares of Common
Stock the Third-Party Purchaser proposes to buy as stated in the Drag-Along Notice and (y) a fraction (A) the numerator of which
is equal to the number of shares of Common Stock then held by Villari or Ameris, as the case may be, and (B) the denominator of
which is equal to the number of shares then held by all of the Shareholders (including, for the avoidance of doubt, Villari and
Ameris).

 

(d)          The
consideration to be received by Ameris shall be the same form and amount of consideration per share of Common Stock to be received
by Villari (or, if Villari is given an option as to the form and amount of consideration to be received, the same option shall
be given) and the terms and conditions of such Transfer shall, except as otherwise provided in the immediately succeeding sentence,
be the same as those upon which Villari Transfers his Common Stock. Ameris shall make or provide the same representations, warranties,
covenants, indemnities and agreements as Villari makes or provides in connection with the Drag-Along Sale (except that in the
case of representations, warranties, covenants, indemnities and agreements pertaining specifically to Villari, Ameris shall make
the comparable representations, warranties, covenants, indemnities and agreements pertaining specifically to itself); provided,
that all representations, warranties, covenants and indemnities shall be made by Villari and Ameris severally and not jointly
and any indemnification obligation shall be pro rata based on the consideration received by Villari and Ameris, in each case in
an amount not to exceed the aggregate proceeds received by Villari and Ameris in connection with the Drag-Along Sale.

 

(e)          The
fees and expenses of Villari incurred in connection with a Drag-Along Sale and for the benefit of all Shareholders (it being understood
that costs incurred by or on behalf of Villari for his sole benefit will not be considered to be for the benefit of all Shareholders),
to the extent not paid or reimbursed by the Company or the Third-Party Purchaser, shall be shared by all the Shareholders on a
pro rata basis, based on the aggregate consideration received by each Shareholder; provided, that no Shareholder shall
be obligated to make or reimburse any out-of-pocket expenditure prior to the consummation of the Drag-Along Sale.

 

    10

     

    

 

(f)          Each
Shareholder shall take all actions as may be reasonably necessary to consummate the Drag-Along Sale, including entering into agreements
and delivering certificates and instruments, in each case consistent with the agreements being entered into and the certificates
being delivered by Villari.

 

(g)          Villari
shall have ninety (90) days following the date of the Drag-Along Notice in which to consummate the Drag-Along Sale, on the terms
set forth in the Drag-Along Notice (which such ninety (90) day period may be extended for a reasonable time not to exceed one
hundred twenty (120) days to the extent reasonably necessary to obtain any Government Approvals). If at the end of such period,
Villari has not completed the Drag-Along Sale, Villari may not then effect a transaction subject to this Section 3.02 without
again fully complying with the provisions of this Section 3.02.

 

Section
3.03         Tag-Along Rights.

 

(a)          If
at any time Villari, while holding (together with his Affiliates) at least a majority of the outstanding Common Stock of the Company,
proposes to Transfer any shares of his Common Stock to a Third-Party Purchaser (the “Proposed Transferee”)
and Villari cannot or has not elected to exercise his drag-along rights set forth in Section 3.02, Ameris shall be permitted
to participate in such Transfer (a “Tag-Along Sale”) on the terms and conditions set forth in this Section
3.03.

 

(b)          Prior
to the consummation of any such Transfer of Common Stock described in Section 3.03(a), Villari shall deliver to Ameris
a written notice (a “Sale Notice”) of the proposed Tag-Along Sale subject to this Section 3.03 at least
thirty (30) days prior to the closing date of the Tag-Along Sale. The Sale Notice shall make reference to Ameris’s rights
hereunder, shall include a copy (which may be in draft form) of any stock purchase, merger or other acquisition agreement proposed
to be executed by Villari or the Company in connection therewith, and a copy (which may be in draft form) of any agreement proposed
to be executed by Ameris in connection therewith, and shall describe in reasonable detail:

 

(i)          
the aggregate number of shares of Common Stock the Proposed Transferee has offered to purchase.

 

(ii)         the
identity of the Proposed Transferee;

 

(iii)        the
proposed date, time and location of the closing of the Tag-Along Sale; and

 

(iv)        the
per share purchase price and the other material terms and conditions of the Transfer, including a description of any non-cash
consideration in sufficient detail to permit the valuation thereof.

 

(c)          Ameris
shall exercise its right to participate in a Transfer of Common Stock by Villari subject to this Section 3.03 by delivering
to Villari a written notice (a “Tag-Along Notice”) stating its election to do so and specifying the number
of shares of Common Stock to be Transferred by it no later than ten (10) Business Days after receipt of the Sale Notice (the “Tag-Along
Period”). The offer of Ameris set forth in a Tag-Along Notice shall be irrevocable, and, to the extent such offer is
accepted, Ameris shall be bound and obligated to Transfer in the proposed Transfer on the terms and conditions set forth in this
Section 3.03. Villari and Ameris shall have the right to Transfer in a Transfer subject to this Section 3.03 the
number of shares of Common Stock equal to the product of (x) the aggregate number of shares of Common Stock the Proposed Transferee
proposes to buy as stated in the Sale Notice and (y) a fraction (A) the numerator of which is equal to the number of shares of
Common Stock then held by Villari or Ameris, as the case may be, and (B) the denominator of which is equal to the number of shares
then held by all of the Shareholders (including, for the avoidance of doubt, Villari and Ameris).

 

    11

     

    

 

(d)          If
Ameris does not deliver a Tag-Along Notice in compliance with Section 3.03(c) above, it shall be deemed to have waived
all of its rights to participate in such Transfer, and Villari shall thereafter be free to Transfer to the Proposed Transferee
his shares of Common Stock at a per share price that is no greater than the per share price set forth in the Sale Notice and on
other same terms and conditions which are not materially more favorable to Villari than those set forth in the Sale Notice without
any further obligation to Ameris.

 

(e)          If
Ameris elects to participate in a Transfer pursuant to this Section 3.03, it shall receive the same consideration per share
as Villari after deduction of its proportionate share of the related fees and expenses in accordance with Section 3.03(g)
below.

 

(f)          Ameris
shall make or provide the same representations, warranties, covenants, indemnities and agreements as Villari makes or provides
in connection with the Tag-Along Sale (except that in the case of representations, warranties, covenants, indemnities and agreements
pertaining specifically to Villari, Ameris shall make the comparable representations, warranties, covenants, indemnities and agreements
pertaining specifically to itself); provided, that all representations, warranties, covenants and indemnities shall be
made by Villari and Ameris severally and not jointly and any indemnification obligation in respect of breaches of representations
and warranties shall be pro rata based on the consideration received by Villari and Ameris, in each case in an amount not to exceed
the aggregate proceeds received by Villari and Ameris in connection with any Tag-Along Sale.

 

(g)          The
fees and expenses of Villari incurred in connection with a Tag-Along Sale and for the benefit of all Shareholders (it being understood
that costs incurred by or on behalf of Villari for his sole benefit will not be considered to be for the benefit of all Shareholders),
to the extent not paid or reimbursed by the Company or the Proposed Transferee, shall be shared by all the Shareholders on a pro
rata basis, based on the aggregate consideration received by each such Shareholder; provided, that no Shareholder shall
be obligated to make or reimburse any out-of-pocket expenditure prior to the consummation of the Tag-Along Sale.

 

(h)          Ameris
shall take all actions as may be reasonably necessary to consummate the Tag-Along Sale, including entering into agreements and
delivering certificates and instruments, in each case consistent with the agreements being entered into and the certificates being
delivered by Villari.

 

(i)          Villari
shall have ninety (90) days following the expiration of the Tag-Along Period in which to Transfer the shares of Common Stock described
in the Sale Notice, on the terms set forth in the Sale Notice (which such ninety (90) day period may be extended for a reasonable
time not to exceed one hundred twenty (120) days to the extent reasonably necessary to obtain any Government Approvals). If at
the end of such period, Villari has not completed such Transfer, Villari may not then effect a Transfer of Common Stock subject
to this Section 3.03 without again fully complying with the provisions of this Section 3.03.

 

(j)          If
Villari Transfers to the Proposed Transferee any of his shares of Common Stock in breach of this Section 3.03, then Ameris
shall have the right to Transfer to Villari, and Villari undertakes to purchase from Ameris, the number of shares of Common Stock
that Ameris would have had the right to Transfer to the Proposed Transferee pursuant to this Section 3.03, for a per share
amount and form of consideration and upon the terms and conditions on which the Proposed Transferee bought such Common Stock from
Villari (but without indemnity being granted by Ameris to Villari, other than indemnification in the event that Ameris does not
own such Common Stock free and clear of all Liens); provided, that, nothing contained in this Section 3.03 shall
preclude Ameris from seeking alternative remedies against Villari as a result of his breach of this Section 3.03. Villari
shall also reimburse Ameris for any and all reasonable and documented out-of-pocket fees and expenses, including reasonable legal
fees and expenses, incurred pursuant to the exercise or the attempted exercise of Ameris’s rights as a result of a Transfer
by Villari to the Proposed Transferee of any of his shares of Common Stock in breach of this Section 3.03.

 

    12

     

    

 

Section
3.04         Ameris Purchase of Villari Shares.  

 

(a)          On
or before December 31, 2017 (or such later date, if any, as may be mutually agreed in writing by Ameris and Villari), but subject
to the receipt of all required Governmental Approvals with respect thereto, Ameris shall purchase from Villari, and Villari shall
sell to Ameris, such number of shares of Voting Common Stock and Non-Voting Common Stock owned by Villari as shall represent at
the time of such purchase twenty-five and 01/100ths percent (25.01%) of the shares of Common Stock then issued and outstanding
(the “Villari Shares”), such that after such acquisition, Ameris shall own thirty percent (30%) of both the
outstanding Voting Common Stock and the outstanding Non-Voting Common Stock. The consideration payable by Ameris to Villari for
the Villari Shares shall be (i) twelve million dollars ($12,000,000) in cash (which amount shall be increased by two hundred thousand
dollars ($200,000) for each calendar month or portion thereof beginning January 1, 2018 and continuing through and including June
30, 2018, if Ameris has not acquired the Villari Shares on or before December 31, 2017 and Ameris and Villari have mutually agreed
in writing to a purchase of the Villari Shares at a later date), plus (ii) one hundred fourteen thousand two hundred eighty-five
(114,285) unregistered shares of ABCB Stock (the “New Ameris Shares”); provided, however, that if the
average of the closing sale prices of ABCB Stock as reported on the NASDAQ Stock Market during the thirty (30) consecutive full
trading days ending at the closing of trading on the trading day immediately prior to the date of the parties’ consummation
of such purchase of the Villari Shares (such average, the “Average ABCB Stock Price”) shall be less than thirty-five
dollars ($35.00) per share, the number of New Ameris Shares to be issued as consideration for the Villari Shares shall be increased
(subject to the immediately following sentence) to that number of shares of ABCB Stock that, when added together with the Designated
Ameris Shares and multiplied by the Average ABCB Stock Price, equals the aggregate value of eight million five hundred thousand
dollars ($8,500,000). At the same time that Villari acquires the New Ameris Shares, Villari and Ameris shall enter into a registration
rights agreement with respect to the New Ameris Shares that is in form and substance substantially the same as the Prior Registration
Rights Agreement. Notwithstanding anything herein to the contrary, the maximum number of New Ameris Shares that may be issued
pursuant to this Section 3.04(a) shall in all events be limited to one share of ABCB Stock fewer than the minimum number
of shares of ABCB Stock the issuance of which would require the approval of the shareholders of Ameris under any Applicable Law
or any rule of the NASDAQ Stock Market or any other applicable securities exchange, and any shortfall in the ABCB Stock consideration
to which Villari would have been entitled that results from the foregoing shall be satisfied by the payment of additional cash
consideration by Ameris equal to the quotient obtained by multiplying (x) that number of shares of ABCB Stock constituting such
shortfall, by (y) the Average ABCB Stock Price. The purchase of the Villari Shares shall be consummated as promptly as practicable
after Ameris’s receipt of all Governmental Approvals with respect thereto, and following the expiration of all applicable
waiting periods and the parties’ compliance with all Applicable Laws, by the parties’ execution of a mutually agreeable
stock purchase agreement similar in substance and form to the Prior Stock Purchase Agreement, as applicable; provided, however,
that notwithstanding anything herein to the contrary, Ameris shall have no obligation hereunder to purchase the Villari Shares
pursuant to this paragraph if it does not receive all required Governmental Approvals thereto on or before December 31, 2017 (or
such later date, if any, as may be mutually agreed in writing by Ameris and Villari) following the exercise by Ameris and Villari
of all commercially reasonable efforts in good faith to do so; provided further, however, that nothing contained
herein shall be deemed to require Ameris, or require or permit Villari, to take any action, or commit to take any action, or agree
to any condition or restriction, in connection with obtaining any Governmental Approval that would reasonably be expected to result
in Ameris or any Affiliate of Ameris becoming subject to any cease-and-desist order or other order, formal or informal enforcement
action issued by, or written agreement, consent agreement, operating agreement, memorandum of understanding, commitment letter
or similar undertaking with, or any request to adopt any board resolutions by, any Governmental Authority.

 

    13

     

    

 

(b)          If
Ameris does not consummate the purchase of the Villari Shares pursuant to Section 3.04(a) on or before December 31, 2017
(or such later date, if any, as may be mutually agreed in writing by Ameris and Villari), then Villari may institute an Asset
Transfer of the Division at any time during the remainder of the Term by providing written notice to Ameris. For the avoidance
of doubt, Villari may institute an Asset Transfer of the Division without regard to whether any Governmental Approvals contemplated
by Section 3.04(a) have been received. Notwithstanding anything in the Management Agreement to the contrary, Villari shall
give notice to Ameris at least five (5) days prior to, directly or indirectly, soliciting, initiating, encouraging, facilitating
(including by way of furnishing information) or taking any other action designed to facilitate any inquiries or proposals regarding
any Asset Transfer of the Division, or engaging in a process designed to effect such an Asset Transfer. Anything to the contrary
in the Management Agreement notwithstanding, upon and after the receipt of any such notice: (i) Ameris will (and will cause its
Affiliates, including Ameris Bank, to) keep all information regarding such proposed Asset Transfer strictly confidential and not
disclose such information to anyone other than the directors and executive officers of Ameris or its Affiliates, who will be under
an obligation to maintain such confidentiality; (ii) Ameris will not (and will cause its Affiliates not to), and Villari will
not, (A) disparage each other, the Division or the transferee of the Asset Transfer, or (B) interfere with, or attempt to circumvent,
such proposed Asset Transfer; (iii) Ameris will not (and will cause its Affiliates, including Ameris Bank, not to) seek to retain
the Division’s employees; (iv) Ameris will (or will cause its Affiliates, including Ameris Bank, to), prior to the date
of the Asset Transfer, continue to fund the new Premium Finance Loans and Non-Premium Finance Loans at least up to the then applicable
Portfolio Size Floor pursuant to the terms and conditions of the Management Agreement; (v) Ameris will (and will cause its Affiliates,
including Ameris Bank, to) permit the Division’s Premium Finance Loans and Non-Premium Finance Loans (or such portion thereof
as may be designated by Villari) to be transferred to the transferee as part of such Asset Transfer, provided that Ameris (or
its Affiliates) is paid the outstanding principal thereof and the accrued and unpaid interest thereon through the date of transfer;
and (vi) neither Ameris nor its Affiliates (including Ameris Bank) will have any right to receive any portion of any premium,
goodwill or any such proceeds paid (in excess of the sums paid to Ameris or its Affiliates for the then outstanding principal
and accrued unpaid interest) that are paid to Villari upon such Asset Transfer (other than a pro rata percentage based on the
percentage of Common Stock then owned by Ameris). If Villari decides to effect an Asset Transfer, then: (i) Villari shall be required
to obtain from the prospective transferee a confidentiality agreement in form and substance reasonably satisfactory to Ameris
prior to the disclosure to such prospective transferee or its agents or representatives of any information regarding the Division’s
finances, loans, operations, or employees; and (ii) the disclosure of any information regarding or relevant to the Division to
such transferee shall not cause Villari to be in violation of any confidentiality requirements or fiduciary obligations in favor
of Ameris or any of its Affiliates. If an Asset Transfer of the Division is initiated by Villari during the Term, then Ameris
will (and will cause its Affiliates, including Ameris Bank, to) use commercially reasonable efforts to facilitate such Asset Transfer
of the Division, including cooperating with the transferee’s reasonable due diligence requests and promptly executing such
documents as Villari may reasonably request to facilitate such Asset Transfer of the Division. All capitalized terms used in this
Section 3.04(b) and not otherwise defined in this Agreement shall have the respective meanings assigned to them in the
Management Agreement.

 

    14

     

    

 

Article
IV 

Preemptive Rights

 

Section
4.01         Preemptive Right.

 

(a)          The
Company hereby grants to each Shareholder (each, a “Preemptive Shareholder”) the right to purchase its pro
rata portion of any new Common Stock (other than any Excluded Securities) (the “New Securities”) that the Company
may from time to time propose to issue or sell to any Person.

 

(b)          The
Company shall give written notice (an “Issuance Notice”) of any proposed issuance or sale described in subsection
(a) above to the Preemptive Shareholders within five (5) Business Days following any meeting of the Board at which any such issuance
or sale is approved. The Issuance Notice shall set forth the material terms and conditions of the proposed issuance, including:

 

(i)          the
number of New Securities proposed to be issued and the percentage of the Company’s outstanding Common Stock, on a fully
diluted basis, that such issuance would represent;

 

(ii)         the
proposed issuance date, which shall be at least twenty (20) Business Days from the date of the Issuance Notice; and

 

(iii)        the
proposed purchase price per share.

 

(c)          Each
Preemptive Shareholder shall for a period of fifteen (15) Business Days following the receipt of an Issuance Notice (the “Exercise
Period”) have the right to elect irrevocably to purchase, at the purchase price set forth in the Issuance Notice, the
amount of New Securities equal to the product of (x) the total number of New Securities to be issued by the Company on the issuance
date and (y) a fraction determined by dividing (A) the number of shares of Common Stock owned by such Preemptive Shareholder immediately
prior to such issuance by (B) the total number of shares of Common Stock outstanding on such date immediately prior to such issuance
(the “Preemptive Pro Rata Portion”) by delivering a written notice to the Company. Such Preemptive Shareholder’s
election to purchase New Securities shall be binding and irrevocable.

 

(d)          No
later than five (5) Business Days following the expiration of the Exercise Period, the Company shall notify each Preemptive Shareholder
in writing of the number of New Securities that each Preemptive Shareholder has agreed to purchase (including, for the avoidance
of doubt, where such number is zero) (the “Over-Allotment Notice”). Each Preemptive Shareholder exercising
its right to purchase its Preemptive Pro Rata Portion of the New Securities in full (an “Exercising Shareholder”)
shall have a right of over-allotment such that if any other Preemptive Shareholder fails to exercise its right under this Section
4.01 to purchase its Preemptive Pro Rata Portion of the New Securities (each, a “Non-Exercising Shareholder”),
such Exercising Shareholder may purchase all or any portion of such Non-Exercising Shareholder’s allotment (the “Over-Allotment
New Securities”) by giving written notice to the Company setting forth the number of Over-Allotment New Securities that
such Exercising Shareholder is willing to purchase within five (5) Business Days of receipt of the Over-Allotment Notice (the
“Over-Allotment Exercise Period”). Such Exercising Shareholder’s election to purchase Over-Allotment
New Securities shall be binding and irrevocable. If more than one Exercising Shareholder elects to exercise its right of over-allotment,
each Exercising Shareholder shall have the right to purchase the number of Over-Allotment New Securities it elected to purchase
in its written notice; provided, that if the over-allotment New Securities are over-subscribed, each Exercising Shareholder
shall purchase its pro rata portion of the available Over-Allotment New Securities based upon the relative Preemptive Pro Rata
Portions of the Exercising Shareholders.

 

    15

     

    

 

(e)          The
Company shall be free to complete the proposed issuance or sale of New Securities described in the Issuance Notice with respect
to any New Securities not elected to be purchased pursuant to Section 4.01(c) and Section 4.01(d) above in accordance
with the terms and conditions set forth in the Issuance Notice (except that the amount of New Securities to be issued or sold
by the Company may be reduced) so long as such issuance or sale is closed within sixty (60) days after the expiration of the Over-Allotment
Exercise Period (subject to the extension of such sixty (60) day period for a reasonable time not to exceed ninety (90) days to
the extent reasonably necessary to obtain any Government Approvals). In the event the Company has not sold such New Securities
within such time period, the Company shall not thereafter issue or sell any New Securities without first again offering such securities
to the Shareholders in accordance with the procedures set forth in this Section 4.01.

 

(f)          Upon
the consummation of the issuance of any New Securities in accordance with this Section 4.01, the Company shall deliver
to each Exercising Shareholder certificates (if any) evidencing the New Securities, which New Securities shall be issued free
and clear of any Liens (other than those arising hereunder and those attributable to the actions of the purchasers thereof), and
the Company shall so represent and warrant to the purchasers thereof, and further represent and warrant to such purchasers that
such New Securities shall be, upon issuance thereof to the Exercising Shareholders and after payment therefor, duly authorized,
validly issued, fully paid and non-assessable. Each Exercising Shareholder shall deliver to the Company the purchase price for
the New Securities purchased by it by certified or official bank check or wire transfer of immediately available funds. Each party
to the purchase and sale of New Securities shall take all such other actions as may be reasonably necessary to consummate the
purchase and sale including entering into such additional agreements as may be necessary or appropriate.

 

Article
V 

Information Rights

 

Section
5.01         Financial Statements. In addition to, and without
limiting any rights that a Shareholder may have with respect to inspection of the books and records of the Company under Applicable
Laws, the Company shall furnish to each Shareholder, the following information:

 

(a)          as
soon as available, and in any event within one hundred twenty (120) days after the end of each Fiscal Year, the unaudited balance
sheet of the Company as at the end of each such Fiscal Year and the unaudited statements of income, cash flows and changes in
shareholders’ equity for such year, accompanied by the certification of the chief financial officer of the Company to the
effect that, except as set forth therein, such financial statements have been prepared on a basis consistent with prior years
and fairly present in all material respects the financial condition of the Company as of the dates thereof and the results of
its operations and changes in its cash flows and shareholders’ equity for the periods covered thereby;

 

(b)          as
soon as available, and in any event within forty-five (45) days after the end of each fiscal quarter, the balance sheet of the
Company at the end of such quarter and the statements of income, cash flows and changes in shareholders’ equity for such
quarter, all in reasonable detail and all prepared in accordance with GAAP, consistently applied, and certified by the chief financial
officer of the Company; and

 

(c)          to
the extent the Company is required by Applicable Law or pursuant to the terms of any outstanding indebtedness of the Company to
prepare such reports, any annual reports, quarterly reports and other periodic reports (without exhibits) actually prepared by
the Company as soon as available.

 

    16

     

    

 

Section
5.02         Inspection Rights.

 

(a)          The
Company shall, and shall cause its officers, Directors and employees to, (i) afford each Shareholder and the Representatives of
each such Shareholder, during normal business hours and upon reasonable notice, reasonable access at all reasonable times to its
officers, employees, auditors, properties, offices, plants and other facilities and to all books and records, and (ii) afford
such Shareholder the opportunity to consult with its officers from time to time regarding the Company’s affairs, finances
and accounts as each such Shareholder may reasonably request upon reasonable notice.

 

(b)          The
right set forth in Section 5.02(a) above shall not and is not intended to limit any rights which the Shareholders may have
with respect to the books and records of the Company, or to inspect its properties or discuss its affairs, finances and accounts
under the laws of the jurisdiction in which the Company is incorporated.

 

Article
VI 

Term and Termination

 

Section
6.01         Termination. This Agreement shall terminate upon the
earliest of:

 

(a)          the
consummation of an Initial Public Offering;

 

(b)          the
consummation of a merger or other business combination involving the Company whereby the Voting Common Stock becomes a security
that is listed or admitted to trading on the NASDAQ Stock Market, the New York Stock Exchange or another national securities exchange;

 

(c)          the
date on which neither of the Division Shareholders owns any Common Stock;

 

(d)          the
dissolution, liquidation or winding up of the Company; or

 

(e)          the
unanimous written agreement of the Shareholders.

 

Section
6.02         Effect of Termination.

 

(a)          The
termination of this Agreement shall terminate all further rights and obligations of the Shareholders under this Agreement except
that such termination shall not affect:

 

(i)          the
existence of the Company;

 

(ii)         the
obligation of any party to pay any amounts arising on or prior to the date of termination, or as a result of or in connection
with such termination;

 

(iii)        the
rights which any Shareholder may have by operation of law as a shareholder of the Company; or

 

(iv)        the
rights contained herein which by their terms are intended to survive termination of this Agreement.

 

(b)          The
following provisions shall survive the termination of this Agreement: this Section 6.02 and Section 7.03, Section
7.11, Section 7.12, Section 7.14 and Section 7.15.

 

    17

     

    

 

Article
VII 

Miscellaneous

 

Section
7.01         Expenses. Except as otherwise expressly provided herein,
all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection
with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

 

Section
7.02         Release of Liability. In the event any Shareholder
shall Transfer all of the Common Stock held by such Shareholder in compliance with the provisions of this Agreement without retaining
any interest therein, then such Shareholder shall cease to be a party to this Agreement and shall be relieved and have no further
liability arising hereunder for events occurring from and after the date of such Transfer.

 

Section
7.03         Notices. All notices, requests, demands, claims and
other communications hereunder shall be in writing. Any notice, request, demand, claim or other communication hereunder shall
be deemed duly given: (i) when delivered personally to the recipient; (ii) one (1) Business Day after being sent to the recipient
by reputable overnight courier service (charges prepaid); (iii) when sent to the recipient by confirmed facsimile or email transmission;
or (iv) five (5) Business Days after being mailed to the recipient by certified or registered mail, return receipt requested and
postage prepaid, and in each case addressed to the appropriate address indicated below, or such other address as may be given
in a notice sent by a party to the other party in accordance with this Section 7.03):

 

In the case of Ameris:

 

Ameris Bancorp

1301 Riverplace Boulevard

Suite 2600

Jacksonville, Florida 32207

Attn: Dennis J. Zember Jr.

Facsimile: (229) 890-2235

Email: dennis.zember@amerisbank.com

 

with a copy (which shall not
constitute notice to Ameris) to:

 

Rogers & Hardin LLP

2700 International Tower

229 Peachtree Street, N.E.

Atlanta, Georgia 30303

Attn: Jody L. Spencer

Facsimile: (404) 230-0972

Email: jspencer@rh-law.com

 

In the case of Villari or
The Villari Family Gift Trust: 

Mr. William J. Villari

2065 East Lake Road

Atlanta, GA 30307

Email: wvillari@gmail.com

 

    18

     

    

 

with a copy (which shall not
constitute notice to Villari or The Villari Family Gift Trust) to:

Vedder Price P.C.

222 North LaSalle Street

Chicago, IL 60601

Attn: Marc L. Klyman, Esq.

Facsimile: (312) 609-5005

Email: mklyman@vedderprice.com

 

In the case of the Company:

US Premium Finance Holding Company

2065 East Lake Road

Atlanta, GA 30307

Attn: President

Email: wvillari@gmail.com

with a copy (which shall not
constitute notice to the Company) to:

Vedder Price P.C.

222 North LaSalle Street

Chicago, IL 60601

Attn: Marc L. Klyman, Esq.

Facsimile: (312) 609-5005

Email: mklyman@vedderprice.com

 

Section
7.04         Interpretation. For purposes of this Agreement, (a)
the words “include,” “includes” and “including” shall be deemed to be followed by the words
“without limitation”; (b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,”
“hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. The definitions given
for any defined terms in this Agreement shall apply equally to both the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. Unless the context otherwise
requires, references herein: (x) to Articles, Sections, and Exhibits mean the Articles and Sections of, and Exhibits attached to,
this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended,
supplemented and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute
as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement
shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting
an instrument or causing any instrument to be drafted. The Exhibits referred to herein shall be construed with, and as an integral
part of, this Agreement to the same extent as if they were set forth verbatim herein.

 

Section
7.05         Headings. The headings in this Agreement are for reference
only and shall not affect the interpretation of this Agreement.

 

    19

     

    

 

Section
7.06         Severability. If any term or provision of this Agreement
is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any
other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually
acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest
extent possible.

 

Section
7.07         Entire Agreement. This Agreement and the Organizational
Documents constitute the sole and entire agreement of the parties with respect to the subject matter contained herein and therein,
and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject
matter. In the event of any inconsistency or conflict between this Agreement and any Organizational Document, the Shareholders
and the Company shall, to the extent necessary and permitted by Applicable Law, amend such Organizational Document to comply with
the terms of this Agreement.

 

Section
7.08         Successors and Assigns. This Agreement shall be binding
upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

Section
7.09         No Third-party Beneficiaries. This Agreement is for
the sole benefit of the parties hereto and their permitted assigns and nothing herein, express or implied, is intended to or shall
confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement.

 

Section
7.10         Amendment and Modification; Waiver. This Agreement
may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of
any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No
waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified
by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure
to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed
as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

Section
7.11         Governing Law. This Agreement shall be governed by
and construed in accordance with the internal laws of the State of Florida without giving effect to any choice or conflict of
law provision or rule (whether of the State of Florida or any other jurisdiction) that would cause the application of the laws
of any jurisdiction other than those of the State of Florida.

 

Section
7.12         Equitable Remedies. Each party hereto acknowledges
that the other parties hereto would be irreparably damaged in the event of a breach or threatened breach by such party of any of
its obligations under this Agreement and hereby agrees that in the event of a breach or a threatened breach by such party of any
such obligations, each of the other parties hereto shall, in addition to any and all other rights and remedies that may be available
to them in respect of such breach, be entitled to an injunction from a court of competent jurisdiction (without any requirement
to post bond) granting such parties specific performance by such party of its obligations under this Agreement. In any action or
arbitration proceeding brought by any party hereto to enforce the rights and obligations of the parties set forth in this Agreement,
the prevailing party shall be awarded its reasonable costs in bringing, prosecuting or defending such action or proceeding (including
reasonable attorneys’ fees) in addition to any award granted by the court or arbitrator.

 

    20

     

    

 

Section
7.13         Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed
copy of this Agreement delivered by facsimile, email or other means of electronic transmission shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

 

Section
7.14         Arbitration. Notwithstanding any reference in this
Agreement to an arbitrator or an arbitration proceeding, no party hereto shall be deemed to have agreed to enter into or participate
or be bound by any arbitration unless such party separately and specifically so agrees in writing.

 

Section
7.15         Confidentiality.

 

(a)          Each
Shareholder shall, and shall cause its Representatives to, keep confidential and not divulge any information (including all budgets,
business plans and analyses) concerning the Company or the Division, including the assets, business, operations, financial condition
or prospects of the Company or the Division (collectively, “Information”), and to use, and cause its Representatives
to use, such Information only in connection with the operation of the Company or the Division; provided, that nothing herein
shall prevent any Shareholder from disclosing such Information (i) upon the order of any court or administrative agency, (ii)
upon the request or demand of any regulatory agency or authority having jurisdiction over such Shareholder, (iii) to the extent
compelled by legal process or required or requested pursuant to subpoena, interrogatories or other discovery requests, (iv) to
the extent necessary in connection with the exercise of any remedy hereunder, (v) to other Shareholders, (vi) to such Shareholder’s
Representatives that in the reasonable judgment of such Shareholder need to know such Information or (vii) otherwise in accordance
with an applicable provision of this Agreement, provided, further, that in the case of clause (i), (ii) or (iii), such
Shareholder shall notify the other parties hereto of the proposed disclosure as far in advance of such disclosure as practicable
and use reasonable efforts to ensure that any Information so disclosed is accorded confidential treatment, when and if available.

 

(b)          The
restrictions of Section 7.15(a) shall not apply to information (i) that is or becomes generally available to the public
other than as a result of a disclosure by a Shareholder or any of its Representatives in violation of this Agreement, (ii) that
is or becomes available to a Shareholder or any of its Representatives on a non-confidential basis prior to its disclosure to
the receiving Shareholder and any of its Representatives, (iii) that is or has been independently developed or conceived by such
Shareholder without use of the Company’s Information, (iv) regarding or relevant to the Division that is disclosed to a
prospective transferee in connection with an Asset Transfer, or (v) that becomes available to the receiving Shareholder or any
of its Representatives on a non-confidential basis from a source other than the Company, any other Shareholder or any of their
respective Representatives, provided, that such source is not known by the recipient of the information to be bound by
a confidentiality agreement with the disclosing Shareholder or any of its Representatives.

 

[Signature page follows.]

 

    21

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers (or
other signatories, as applicable) thereunto duly authorized.

 

	 	“Ameris”
	 	 
	 	AMERIS BANCORP, a Georgia corporation
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	“Villari”
	 	 
	 	WILLIAM J. VILLARI, an individual resident of the State of Georgia
	 	 	 
	 	Sign:	 
	 	 	 
	 	“Shareholder”
	 	 
	 	THE VILLARI FAMILY GIFT TRUST
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    22

     

    

 

	 	“Company”
	 	 
	 	US PREMIUM FINANCE HOLDING COMPANY, a Florida corporation
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

  

    23

     

    

 

EXHIBIT A

 

Ownership of Common
Stock by Shareholders

 

	Shareholder	 	Shares
    of

 Voting

 Common Stock	 	 	Percentage
    of

 Outstanding

 Voting

 Common Stock	 	 	Shares
                                         of
 Non-Voting

                                         Common Stock
	 	 	Percentage
    of

 Outstanding

 Non-Voting

 Common Stock	 
	Ameris Bancorp	 	 	49	 	 	 	4.90	%	 	 	450	 	 	 	5.00	%
	The Villari Family Gift Trust	 	 	0	 	 	 	0.00	%	 	 	1,500	 	 	 	16.67	%
	William J. Villari	 	 	951	 	 	 	95.10	%	 	 	7,050	 	 	 	78.33	%
	Total	 	 	1,000	 	 	 	100.00	%	 	 	9,000	 	 	 	100.00	%

 

     

     

    

 

EXHIBIT B

 

REGISTRATION
RIGHTS AGREEMENT

 

This REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of January 3, 2017, is entered into by and between Ameris
Bancorp, a Georgia corporation (the “Company”), and William J. Villari, an individual resident of the State
of Georgia (“Purchaser”).

 

WHEREAS:

 

A.           In
connection with that certain Stock Purchase Agreement dated as of December 15, 2016 between the Company and Purchaser (collectively,
the “Stock Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the
Stock Purchase Agreement, to issue and sell to Purchaser one hundred twenty-eight thousand, five hundred seventy-two (128,572)
shares (the “Purchaser Shares”) of the Company’s common stock, par value $1.00 per share (the “Common
Stock”).

 

B. The Company
has agreed to provide certain registration rights with respect to the Purchaser Shares under the Securities Act of 1933, as amended
(the “Securities Act”), as set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and Purchaser hereby agree as follows:

 

		1.	Definitions.

 

For purposes of this
Agreement, the following terms shall have the meanings specified:

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in New York City are authorized
or required by law to remain closed.

 

“Filing Deadline”
means, with respect to the initial Registration Statement required to be filed pursuant to Section 2(a), forty-five (45) days following
the date of this Agreement; provided, however, that if the Filing Deadline falls on a day other than a Business Day,
then the Filing Deadline shall be extended to the next Business Day.

 

“Holder”
means any Person owning or having the right to acquire Registrable Securities, including initially Purchaser and thereafter any
permitted assignee thereof.

 

“Other Shareholders”
shall mean Persons who, by virtue of agreements with the Company other than this Agreement, are entitled to include their securities
in certain registrations hereunder.

 

“Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity and a government or any department or agency thereof.

 

    1

     

    

 

“Registrable
Securities” means the Purchaser Shares, and any shares of capital stock issued or issuable from time to time (with any
adjustments) in replacement of, in exchange for or otherwise in respect of the Purchaser Shares.

 

“Registration
Statement” means a registration statement or statements prepared in compliance with the Securities Act and pursuant to
Rule 415 under the Securities Act (“Rule 415”) or any successor rule providing for the offering of securities
on a continuous or delayed basis.

 

“Rule 144”
means Rule 144 as promulgated by the SEC under the Securities Act, as such rule may be amended from time to time, or any similar
successor rule that may be promulgated by the SEC.

 

“SEC”
means the Securities and Exchange Commission.

 

“SEC Guidance”
means: (i) any publicly available written or oral guidance, comments, requirements or requests of the staff of the SEC; and (ii)
the Securities Act.

 

		2.	Registration.

 

(a)          Filing
of Registration Statement. On or before the Filing Deadline, the Company shall prepare and file with the SEC a Registration
Statement on Form S-3 (or any successor form) as a “shelf” registration statement under Rule 415 covering the resale
of all of the Registrable Securities not already covered by an existing and effective Registration Statement.

 

(b)          Alternative
Registration Statement. Notwithstanding the foregoing Section 2(a), if on the date the Registration Statement contemplated
by Section 2(a) is filed with the SEC, the Company does not meet the eligibility requirements for filing a Registration Statement
on Form S-3, then in such case the Company shall instead prepare and file with the SEC a Registration Statement on Form S-1 (or
any successor form) covering the resale of the Registrable Securities as otherwise contemplated by Section 2(a).

 

(c)          Effectiveness.
The Company shall use its best efforts to cause the Registration Statement to become effective upon, or as soon as practicable
after, filing. The Company shall use its best efforts to: (i) respond promptly to any and all comments made by the staff of the
SEC with respect to the Registration Statement; and (ii) submit promptly to the SEC after the Company learns that no review of
the Registration Statement will be made by the staff of the SEC, or that the staff of the SEC has no further comments on the Registration
Statement, as the case may be, a request for acceleration of the effectiveness of such Registration Statement to a time and date
not later than two (2) Business Days after the submission of such request. The Company shall use commercially reasonable efforts
to maintain the effectiveness of each Registration Statement filed pursuant to this Agreement until the earliest to occur of: (A)
the date on which all of the Registrable Securities eligible for resale thereunder have been publicly sold pursuant to either the
Registration Statement or Rule 144; (B) the date on which all of the Registrable Securities remaining to be sold under such Registration
Statement (in the reasonable opinion of counsel to the Company) may be immediately sold to the public under Rule 144 without volume
limitations; and (C) the date that is twenty-four (24) months after the date hereof (the period beginning on the date hereof and
ending on the earliest to occur of (A), (B) or (C) above being referred to herein as the “Registration Period”).

 

    2

     

    

 

(d)          Allocation
of Registrable Securities. The initial number of Registrable Securities included in any Registration Statement and each increase
in the number thereof included therein shall be allocated pro rata among the Holders based on the aggregate number of Registrable
Securities issuable to each Holder at the time the Registration Statement covering such initial number of Registrable Securities
or increase thereof becomes effective or is declared effective by the SEC. In the event that a Holder sells or otherwise transfers
any of such Holder’s Registrable Securities, each transferee shall be allocated such transferred Registrable Securities included
in such Registration Statement.

 

(e)          Registration
of Other Securities. The Company may include any securities held by Other Shareholders on any Registration Statement filed
by the Company on behalf of the Holders.

 

(f)          Additional
Registrations. Notwithstanding the registration obligations set forth in Section 2(a) and Section 2(b), in the event the
SEC informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered
for resale as a secondary offering on a single registration statement, the Company agrees to promptly: (i) inform each of the Holders
thereof and use its commercially reasonable efforts to file amendments to the initial Registration Statement as required by the
SEC; or (ii) withdraw the Registration Statement and file a new registration statement, in either case covering the maximum number
of Registrable Securities permitted to be registered by the SEC, on Form S-3 or such other form available to the Company to register
for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment
or new Registration Statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the SEC
for the registration of all of the Registrable Securities in accordance with the SEC Guidance. Notwithstanding any other provision
of this Agreement, if any SEC Guidance sets forth a limitation of the number of Registrable Securities or other shares of Common
Stock permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company
used commercial reasonable efforts to advocate with the SEC for the registration of all or a greater number of Registrable Securities),
the number of Registrable Securities or other shares of Common Stock to be registered on such Registration Statement will be reduced
on a pro rata basis (and the Company shall file a new registration statement to cover the remaining Registrable Securities
in a manner consistent with the other terms of this Agreement). If the Company amends the initial Registration Statement or files
a new Registration Statement, as the case may be, under clauses (i) or (ii) of this Section 2(f) or under the immediately preceding
sentence, then the Company will use its best efforts to file with the SEC, as promptly as allowed by SEC or SEC Guidance provided
to the Company or to registrants of securities in general, one or more registration statements on Form S-3 or such other form available
to the Company to register for resale those Registrable Securities that were not registered for resale on the initial Registration
Statement, as amended, or the new Registration Statement.

 

    3

     

    

 

		3.	Obligations of the Company.

 

In the case of a Registration
Statement effected by the Company pursuant to Section 2, the Company will use its commercially reasonable efforts to:

 

(a)          prepare
and file with the SEC such amendments and supplements to such Registration Statement and the prospectus used in connection with
such Registration Statement as may be necessary to comply with the provisions of the Securities Act or to maintain the effectiveness
of such Registration Statement during the Registration Period, or as may be reasonably requested by a Holder in order to incorporate
information concerning such Holder or such Holder’s intended method of distribution;

 

(b)          so
long as a Registration Statement is effective covering the resale of the applicable Registrable Securities owned by a Holder, furnish
to each Holder such number of copies of the prospectus included in such Registration Statement, including a preliminary prospectus,
in conformity with the requirements of the Securities Act, and such other documents as such Holder may reasonably request;

 

(c)          notify
each Holder immediately after becoming aware of the occurrence of any event (but shall not, without the prior written consent of
such Holder, disclose to such Holder any facts or circumstances constituting material non-public information) as a result of which
the prospectus included in such Registration Statement, as then in effect, contains an untrue statement of material fact or omits
to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing, and as promptly as practicable prepare and file with the SEC and furnish to each Holder a copy of
a supplement or an amendment to such prospectus as may be necessary so that such prospectus does not contain an untrue statement
of material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing;

 

(d)          prevent
the issuance of any stop order or other order suspending the effectiveness of such Registration Statement; and, if any such stop
order is issued, notify each Holder promptly thereof and promptly use its commercially reasonable efforts to obtain the release
of the suspension of the effectiveness of such Registration Statement;

 

(e)          notify
each Holder promptly after the date that such Registration Statement, or any successor registration statement, becomes effective
of such effectiveness;

 

(f)          permit
each Holder to review each Registration Statement and all amendments and supplements thereto (and any prospectuses related thereto)
within a reasonable period of time prior to the filing thereof with the SEC; and

 

(g)          promptly
cause all Registrable Securities to be listed on each securities exchange on which outstanding securities of the Company of the
same class or series as such Registrable Securities are then listed.

 

    4

     

    

 

		4.	Obligations of Each Holder.

 

In connection with
the registration of Registrable Securities pursuant to a Registration Statement, each Holder shall:

 

(a)          timely
furnish to the Company: (i) a completed shareholder questionnaire in such form as shall be reasonably requested by the Company;
and (ii) such information in writing regarding itself and the intended method of disposition of such Registrable Securities as
the Company shall reasonably request in order to effect the registration thereof;

 

(b)          upon
receipt of any notice from the Company of the happening of any event of the kind described in Sections 3(c) or 3(d), immediately
discontinue any sale or other disposition of such Registrable Securities pursuant to such Registration Statement until the filing
of an amendment or supplement as described in Section 3(c), or withdrawal of the stop order referred to in Section 3(d), and use
commercially reasonable efforts to maintain the confidentiality of such notice and its contents;

 

(c)          to
the extent required by applicable law, deliver a prospectus to the purchaser of such Registrable Securities;

 

(d)          notify
the Company when it has sold all of the Registrable Securities held by it; and

 

(e)          notify
the Company in the event that any information supplied by such Holder in writing for inclusion in such Registration Statement or
related prospectus is untrue or omits to state a material fact required to be stated therein or necessary to make such information
not misleading in light of the circumstances then existing; immediately discontinue any sale or other disposition of such Registrable
Securities pursuant to such Registration Statement until the filing of an amendment or supplement to such prospectus as may be
necessary so that such prospectus does not contain an untrue statement of material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; and
use commercially reasonable efforts to assist the Company as may be appropriate to make such amendment or supplement effective
for such purpose.

 

		5.	Indemnification.

 

In the event that any
Registrable Securities are included in a Registration Statement under this Agreement:

 

    5

     

    

 

(a)          To
the extent permitted by law, the Company shall indemnify and hold harmless each Holder, the officers, directors, employees, agents
and representatives of such Holder, and each Person, if any, who controls such Holder within the meaning of the Securities Act
or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), against any losses, claims, damages,
liabilities or reasonable out-of-pocket expenses (whether joint or several) (collectively, including reasonable legal expenses
or other expenses reasonably incurred in connection with investigating or defending same, “Losses”), insofar
as any such Losses (or any actions in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue
statement of a material fact contained in such Registration Statement under which such Registrable Securities were registered,
including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; or (ii) the
omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading. Subject to the provisions of Section 5(c), the
Company will reimburse such Holder, and each such officer, director, employee, agent, representative or controlling Person, for
any reasonable legal expenses or other out-of-pocket expenses as reasonably incurred by any such Person in connection with investigating
or defending any Loss; provided, however, that the foregoing indemnity shall not apply to amounts paid in
settlement of any Loss if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld), nor shall the Company be obligated to indemnify any Person for any Loss to the extent that such Loss arises out of or
is based upon (A) any untrue statement or alleged untrue statement of a material fact or any omission or alleged omission to state
a material fact required to be stated therein or necessary to make statements therein not misleading that was made in reliance
upon and in conformity with written information furnished by such Person expressly for use in such Registration Statement or (B)
a failure of such Person to deliver or cause to be delivered the final prospectus contained in the Registration Statement and made
available by the Company, if such delivery is required by applicable law.

 

(b)          To
the extent permitted by law, each Holder who is named in such Registration Statement as a selling shareholder, acting severally
and not jointly, shall indemnify and hold harmless the Company, the officers, directors, employees, agents and representatives
of the Company, and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act,
against any Losses to the extent that any such Losses arise out of or are based upon: (i) any untrue statement or alleged untrue
statement of a material fact or any omission or alleged omission to state a material fact required to be stated therein or necessary
to make statements therein not misleading that was made in reliance upon and in conformity with written information furnished by
such Person expressly for use in such Registration Statement; or (ii) a failure of such Holder to deliver or cause to be delivered
the final prospectus contained in the Registration Statement and made available by the Company, if such delivery is required under
applicable law. Subject to the provisions of Section 5(c), such Holder will reimburse the Company and any such officer, director,
employee, agent, representative, or controlling Person for any reasonable legal expenses or other out-of-pocket expenses as reasonably
incurred by any such Person, in connection with investigating or defending any such Loss; provided, however,
that the foregoing indemnity shall not apply to amounts paid in settlement of any such Loss if such settlement is effected without
the consent of such Holder (which consent shall not be unreasonably withheld).

 

    6

     

    

 

(c)          Promptly
after receipt by an indemnified party under this Section 5 of notice of the commencement of any action (including any governmental
action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 5,
promptly deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the
right to participate in and to assume the defense thereof with counsel selected by the indemnifying party and reasonably acceptable
to the indemnified party. With regard to such an action which the indemnifying party elects to defend or compromise, the indemnified
party may retain separate co-counsel at its sole cost and expense (except that the indemnifying party will be responsible for the
reasonable fees and expenses of the separate co-counsel in the event that the counsel selected by the indemnifying party cannot
independently represent both the indemnified party and the indemnifying party due to a conflict of interest or is not, in the indemnified
party’s reasonable determination, adequately representing the indemnified party). If the indemnifying party fails to provide
notice that the indemnifying party is assuming the defense of the action, the indemnified party (at the indemnifying party’s
expense) may defend against, or enter into any compromise with respect to, the matter in any manner it reasonably may deem appropriate.
The party controlling the defense of any action shall deliver, or cause to be delivered, to the other party or parties copies of
all correspondence, pleadings, motions, briefs, appeals or other written statements relating to or submitted in connection with
the defense of such action and timely notices of and the right to participate (as an observer) in any proceeding relating to such
action. The failure to deliver written notice to the indemnifying party within a reasonable time of the delivery of notice of any
such action, to the extent materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of
any liability to the indemnified party under this Section 5 with respect to such action, but the omission so to deliver written
notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than
under this Section 5 or with respect to any other action unless the indemnifying party is materially prejudiced with respect to
such other action as a result of not receiving such notice.

 

(d)          In
the event that the indemnity provided in Sections 5(a) or 5(b) is unavailable or insufficient to hold harmless an indemnified party
for any reason, the Company and each Holder agree, severally and not jointly, to contribute to the aggregate Losses to which the
Company or such Holder may be subject in such proportion as is appropriate to reflect the relative fault of the Company and such
Holder in connection with the statements or omissions which resulted in such Losses. Relative fault shall be determined by reference
to whether any alleged untrue statement or omission relates to information provided by the Company or by such Holder. The Company
and each Holder agree that it would not be just and equitable if contribution were determined by pro rata allocation or
any other method of allocation which does not take account of the equitable considerations referred to above. Notwithstanding the
provisions of this Section 5(d), no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. For purposes of
this Section 5, each Person who controls a Holder within the meaning of either the Securities Act or the Exchange Act and each
officer, director, employee, agent or representative of such Holder shall have the same rights to contribution as such Holder,
and each Person who controls the Company within the meaning of either the Securities Act or the Exchange Act and each officer,
director, employee, agent or representative of the Company shall have the same rights to contribution as the Company, subject in
each case to the applicable terms and conditions of this Section 5(d).

 

(e)          The
obligations of the Company and each Holder under this Section 5 shall survive the completion of any offering or sale of Registrable
Securities pursuant to a Registration Statement under this Agreement, or otherwise.

 

		6.	Reports.

 

With a view to making
available to each Holder the benefits of Rule 144 and any other similar rule or regulation of the SEC that may at any time permit
such Holder to sell securities of the Company to the public without registration, the Company agrees to use its commercially reasonable
efforts to:

 

    7

     

    

 

(a)          make
and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)          file
with the SEC in a timely manner all reports and other documents required of the Company under the Exchange Act; and

 

(c)          furnish
to such Holder, so long as such Holder owns any Registrable Securities, promptly upon written request (i) a written statement by
the Company, if true, that it has complied with the reporting requirements of Rule 144 and the Exchange Act; (ii) to the extent
not publicly available through the SEC’s EDGAR database, a copy of the most recent annual or quarterly report of the Company
and such other reports and documents so filed by the Company with the SEC; and (iii) such other information as may be reasonably
requested by such Holder in connection with such Holder’s compliance with any rule or regulation of the SEC which permits
the selling of any such securities without registration.

 

		7.	Miscellaneous.

 

(a)          Expenses
of Registration. All reasonable expenses, other than underwriting discounts and commissions and fees and expenses of counsel
and other advisors to each Holder, incurred in connection with the registrations, filings or qualifications described herein, including
(without limitation) all registration, filing and qualification fees, printers’ and accounting fees and the fees and disbursements
of counsel for the Company shall be borne by the Company.

 

(b)          Amendment;
Waiver. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended or waived except pursuant
to a written instrument executed by the Company and the Holders of at least a majority of the Registrable Securities then outstanding.
Any amendment or waiver effected in accordance with this Section shall be binding upon each Holder, each future Holder and the
Company. The failure of any party to exercise any right or remedy under this Agreement or otherwise, or the delay by any party
in exercising such right or remedy, shall not operate as a waiver thereof.

 

(c)          Notices.
All notices, requests, demands, claims and other communications hereunder shall be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly given: (i) when delivered personally to the recipient; (ii) one (1) Business
Day after being sent to the recipient by reputable overnight courier service (charges prepaid); (iii) when sent to the recipient
by confirmed facsimile or email transmission; or (iv) five (5) Business Days after being mailed to the recipient by certified or
registered mail, return receipt requested and postage prepaid, and in each case addressed to the appropriate address indicated
below (or provided by such Holder pursuant to Section 7(d)), or such other address as may be given in a notice sent by a party
to the other party in accordance with this Section 7(c).

 

    8

     

    

 

In the case of the Company:

 

Ameris Bancorp

1301 Riverplace Boulevard

Suite 2600

Jacksonville, Florida 32207

Attn: Dennis J. Zember Jr.

Facsimile: (229) 890-2235

Email: dennis.zember@amerisbank.com

 

with a copy (which shall not
constitute notice to the Company) to:

 

Rogers & Hardin LLP

2700 International Tower

229 Peachtree Street, N.E.

Atlanta, Georgia 30303

Attn: Jody L. Spencer

Facsimile: (404) 230-0972

Email: jspencer@rh-law.com

 

In the case of Purchaser:

Mr. William J. Villari

2065 East Lake Road

Atlanta, Georgia 30307

Email: wvillari@gmail.com

 

with a copy (which shall not
constitute notice to Purchaser) to:

Vedder Price P.C.

222 North LaSalle Street

Chicago, Illinois 60601

Attn: Marc L. Klyman, Esq.

Facsimile: (312) 609-5005

Email: mklyman@vedderprice.com

 

(d)          Assignment.
Upon the transfer of any Registrable Securities by a Holder, the rights of such Holder hereunder with respect to such securities
so transferred shall be assigned automatically to the transferee thereof, and such transferee shall thereupon be deemed to be a
“Holder” for purposes of this Agreement, provided that: (i) the Company is, within a reasonable period of time
following such transfer, furnished with written notice of the name and address of such transferee; (ii) the transferee agrees in
writing with the Company to be bound by all of the provisions hereof; and (iii) such transfer is made in accordance with the applicable
requirements of all applicable state and federal securities laws.

 

(e)          Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall be deemed
one and the same instrument. This Agreement, once executed by a party, may be delivered to any other party hereto by facsimile
or other electronic transmission.

 

    9

     

    

 

(f)          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia applicable to contracts
made and to be performed entirely within the State of Georgia.

 

(g)          Holder
of Record. A Person is deemed to be a Holder whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the
same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the record
owner of such Registrable Securities.

 

(h)          Entire
Agreement. This Agreement and the Stock Purchase Agreement constitute the entire agreement between the parties hereto
with respect to the subject matter hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than
those set forth or referred to herein and therein. This Agreement and the Stock Purchase Agreement supersede all prior agreements
and understandings among the parties hereto with respect to the subject matter hereof and thereof.

 

(i)          Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(j)          Successors,
Assigns and Transferees. No right, duty or obligation hereunder may be assigned, transferred, delegated or sublicensed by any
party hereto without the prior written consent of the other party, except as otherwise provided in Section 7(d). The provisions
of this Agreement shall inure to the benefit of the heirs, executors and administrators of the Holders. Any transfer or assignment
made other than as provided in the first sentence of this Section 7(j) shall be null and void. 

 

(k)          Equitable
Remedies. Each party hereto acknowledges that the other party hereto would be irreparably damaged in the event of a breach
or threatened breach by such party of any of its obligations under this Agreement and hereby agrees that in the event of a breach
or a threatened breach by such party of any such obligations, each other party hereto shall, in addition to any and all other rights
and remedies that may be available to them in respect of such breach, be entitled to an injunction from a court of competent jurisdiction
(without any requirement to post bond) granting such parties specific performance by such party of its obligations under this Agreement.
In any action or arbitration proceeding brought by any party hereto to enforce the rights and obligations of the parties set forth
in this Agreement, the prevailing party shall be awarded its reasonable costs in bringing, prosecuting or defending such action
or proceeding (including reasonable attorneys’ fees) in addition to any award granted by the court or arbitrator.

 

(l)          Arbitration.
Notwithstanding any reference in this Agreement to an arbitrator or arbitration proceeding, no party hereto shall be deemed to
have agreed to enter into or participate or be bound by any arbitration unless such party separately and specifically so agrees
in writing.

 

[Signature page follows.]

 

    10

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Registration Rights Agreement as of the date first-above written.

 

	 	“Company”
	 	 
	 	AMERIS BANCORP, a Georgia corporation
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	“Purchaser”
	 	 
	 	WILLIAM J. VILLARI, an individual resident of the State of Georgia
	 	 	 
	 	Sign:

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