Document:

EXHIBIT 10.1

EMPLOYMENT  AGREEMENT

     THIS  EMPLOYMENT  AGREEMENT (the "Agreement") is made as of the 30th day of
April, 2007 by and among Georgia Bank & Trust Company of Augusta (the "Bank"), a
state  bank  organized  under  the  laws  of  the  State of Georgia (the Bank is
sometimes  referred  to  hereinafter as the "Employer"), and Darrell R. Rains, a
resident  of  the  State  of  South  Carolina  (the  "Executive").

RECITALS:

     The  Employer  currently  employs the Executive as Group Vice President and
Chief  Financial  Officer.

     The  Employer  and  the  Executive  now  desire  to enter into an agreement
respecting  the  terms and conditions of the Executive's employment by the Bank.

     In  consideration  of  the  above  premises  and  the  mutual  agreements
hereinafter  set  forth,  the  parties  hereby  agree  as  follows:

1.     Definitions.  Whenever  used  in  this Agreement, the following terms and
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their  variant  forms  shall  have  the  meanings  set  forth  below:

     1.1     "Affiliate"  shall  mean  any  business  entity  which controls the
              ---------
Company,  is  controlled  by  or  is  under  common  control  with  the Company.

     1.2     "Agreement" shall mean this Agreement and any exhibits incorporated
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herein  together with any amendments hereto made in the manner described in this
Agreement.

     1.3     "Area"  shall  mean  the  geographic area within a thirty-five (35)
              ----
mile  radius  of  the  Bank's  primary  location  at 3530 Wheeler Road, Augusta,
Georgia  30909.  It  is  the  express  intent  of  the  parties that the Area as
defined  herein  is  the area where the Executive performs services on behalf of
the  Employer  under  this  Agreement.

     1.4     "Business of the Employer" shall mean the business conducted by the
              ------------------------
Employer,  which  is  the  business  of  accepting  deposits  and  making loans.

     1.5     "Cause"  shall  mean,  with respect to termination by the Employer:
              -----

          (a)     A  material  breach  of  the  terms  of  this Agreement by the
     Executive,  including,  without  limitation,  failure  by  the Executive to
     perform  his  duties  and  responsibilities in the manner and to the extent
     required  under  this  Agreement;

          (b)     Conduct  by the Executive that amounts to fraud, dishonesty or
     willful  misconduct  in  the performance of his duties and responsibilities
     hereunder;

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          (c)     Conviction  of the Executive during the Term of this Agreement
     of  any  felony  or  a  crime involving breach of trust or moral turpitude;

          (d)     Conduct  by  the  Executive  that  amounts  to  willful
     insubordination  or  gross  negligence;  a  continued  failure  to  perform
     substantially  his  duties  and  responsibilities  hereunder;  or  willful
     misconduct that is materially and demonstrably injurious to the Bank or its
     personnel,  including,  but  not  limited  to,  financial injury, injury to
     morale  or  injury  to  reputation;  or

          (e)     Conduct  by  the  Executive  that  results  in a formal action
     instituted  by  written  order  of  any regulatory agency with authority or
     jurisdiction over the Employer to remove the Executive from his position as
     an  officer  or  executive  of  the  Employer.

     1.6     "Change  of  Control"  means  any  one  of  the  following  events:
              -------------------

          (a)     the  acquisition by any person or persons acting in concert of
     the  then  outstanding voting securities of either the Bank or the Company,
     if, after the transaction, the acquiring person (or persons) owns, controls
     or  holds  with  power  to vote fifty percent (50%) or more of any class of
     voting  securities  of  either the Bank or the Company, as the case may be;
     provided,  however,  that the current and future holdings of any person who
     is  a shareholder of the Company or the Bank as of the Effective Date shall
     be disregarded in determining whether the fifty percent (50%) threshold has
     been  attained;

          (b)     within  any  twelve-month  period  (beginning  on or after the
     Effective  Date)  the  persons who were directors of either the Bank or the
     Company  immediately  before the beginning of such twelve-month period (the
     "Incumbent  Directors")  shall  cease  to constitute at least a majority of
     such  board of directors; provided that any director who was not a director
     as  of  the  beginning of such twelve-month period shall be deemed to be an
     Incumbent Director if that director were elected to such board of directors
     by,  or  on  the  recommendation  of  or  with  the  approval  of, at least
     two-thirds  (2/3)  of  the  directors  who  then  qualified  as  Incumbent
     Directors;  and  provided further that no director whose initial assumption
     of  office  is  in connection with an actual or threatened election contest
     relating  to  the  election of directors shall be deemed to be an Incumbent
     Director;

          (c)     a  reorganization,  merger,  share  exchange  combination,  or
     consolidation,  with  respect to which persons who were the stockholders of
     the  Bank  or  the  Company,  as the case may be, immediately prior to such
     reorganization,  merger,  share  exchange  combination, or consolidation do
     not,  immediately  thereafter,  own  more  than  fifty percent (50%) of the
     combined  voting power entitled to vote in the election of directors of the
     reorganized,  merged,  combined  or consolidated company's then outstanding
     voting  securities;  or

          (d)     the  sale,  transfer or assignment of all or substantially all
     of  the  assets  of  the  Company  and its subsidiaries to any third party.

     1.7     "Code"  shall  mean  the Internal Revenue Code of 1986, as amended,
              ----
and  the  regulations  promulgated  thereunder.

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     1.8     "Company"  shall  mean  Southeastern  Bank Financial Corporation, a
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corporation  organized  under  the  laws  of  the  state  of  Georgia.

     1.9     "Competing  Business"  shall  mean  any  business,  other  than the
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Company  or  its  Affiliates,  engaged  in  the  Business  of  the  Employer.

     1.10     "Confidential  Information" means data and information relating to
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the  Business  of  the  Employer  (which  does not rise to the status of a Trade
Secret)  which  is  or  has  been  disclosed  to  the  Executive or of which the
Executive  became  aware  as  a  consequence  of  or  through  the  Executive's
relationship  to  the  Employer  and  which has value to the Employer and is not
generally  known to its competitors.  Confidential Information shall not include
any data or information that has been voluntarily disclosed to the public by the
Employer  (except  where  such  public disclosure has been made by the Executive
without authorization) or that has been independently developed and disclosed by
others,  or  that  otherwise  enters  the  public  domain  through lawful means.

     1.11     "Disability"  shall mean the inability of the Executive to perform
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each  of  his  material duties under this Agreement for the duration of the then
applicable  elimination  period under the Employer's long-term disability policy
then in effect as certified by a physician chosen by the Employer and reasonably
acceptable  to  the  Executive.

     1.12     "Effective  Date"  shall  mean  January  1,  2007.
               ---------------

     1.13     "Employer  Information"  means  Confidential Information and Trade
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Secrets.

     1.14     "Good  Reason"  means,  with respect to a voluntary resignation by
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the  Executive  following  a Change of Control, any one of the following events,
but  only  if,  the  Executive  provided the Employer with written notice of the
event within forty-five (45) days after the event occurred and an opportunity to
cure  for at least ten (10) business days from its receipt of the notice and the
circumstances  continued, uncured, through the effective date of the Executive's
resignation  (which  date  may be no sooner than the day after the expiration of
the  cure  period):

          (a)     a  change  in  the  Executive's  position, authority or duties
     effected  by  the  Employer;

          (b)     a  reduction  in  the  Executive's  base salary rate or annual
     bonus  opportunity  effected  by  the  Employer;  or

          (c)     a requirement by the Employer that the Executive's services be
     rendered  primarily  at a location more than fifty (50) miles from Augusta,
     Georgia.

     1.15     "Initial  Term"  shall  mean that period of time commencing on the
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Effective  Date  and  running until the earlier of (a) December 31, 2009, or (b)
any  earlier  termination of employment of the Executive under this Agreement as
provided  for  in  Section  3.

     1.16     "Term"  shall  mean  the  Initial  Term and all subsequent renewal
               ----
periods.

<PAGE>
     1.17     "Trade  Secrets"  means  Employer  information  including, but not
               --------------
limited  to,  technical  or nontechnical data, formulas, patterns, compilations,
programs,  devices,  methods,  techniques,  drawings, processes, financial data,
financial  plans,  product  plans  or  lists of actual or potential customers or
suppliers  which:

          (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.

2.     Duties.
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     2.1     Position.  The  Executive  is  employed as Group Vice President and
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Chief  Financial  Officer of the Bank and, subject to the direction of the Chief
Executive  Officer  of  the Bank or his designee(s), shall perform and discharge
well and faithfully the duties which may be assigned to him from time to time by
such  person(s)  in  connection  with  the  conduct  of  its  business.

     2.2     Full-Time  Status.  In  addition to the duties and responsibilities
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specifically  assigned  to  the  Executive  pursuant  to Section 2.1 hereof, the
Executive  shall:

          (a)     devote  substantially all of his time, energy and skill during
     regular  business  hours to the performance of the duties of his employment
     (reasonable  vacations and reasonable absences due to illness excepted) and
     faithfully  and  industriously  perform  such  duties;

          (b)     diligently  follow  and  implement  all  reasonable and lawful
     management  policies  and  decisions  communicated  to  him  by  the  Chief
     Executive  Officer  of  the  Bank  or  his  designee(s);  and

          (c)     timely  prepare  and forward to the Chief Executive Officer or
     the  Board  of  Directors  of  the  Bank or his designee(s) all reports and
     accountings  as  may  be  requested  of  the  Executive.

     2.3     Permitted  Activities.  The  Executive shall not during the Term be
             ---------------------
engaged  (whether  or not during normal business hours) in any other business or
professional  activity, whether or not such activity is pursued for gain, profit
or  other pecuniary advantage; but this shall not be construed as preventing the
Executive:

          (a)     from  investing  his  personal assets in businesses which will
     not require any services on the part of the Executive in their operation or
     affairs, in which his participation is solely that of an investor and which
     are  not  Competing  Businesses;

<PAGE>
          (b)     from purchasing securities solely as a passive investor in any
     corporation,  the  securities  of  which are regularly traded provided that
     such  purchase  shall not result in him collectively owning beneficially at
     any  time  five  percent  (5%)  or  more  of  the  equity securities of any
     Competing  Business;  or

          (c)     from  participating  in other community activities as approved
     by  the President and Chief Executive Officer or Chief Operating Officer of
     the  Employer.

3.     Term  and  Termination.
       ----------------------

     3.1     Term.     This  Agreement  shall remain in effect for the Term and,
             ----
except  as  provided in this Section 3.1, shall expire on December 31, 2009.  On
or  before each December 31st during the Term commencing with December 31, 2007,
the Term may be extended by the affirmative action of the Compensation Committee
of  the Board of Directors of the Bank so that, as of the immediately succeeding
January 1st, the Term shall extend for a period of three (3) calendar years.  In
the  event  the Compensation Committee fails to extend the Term on or before any
such December 31st, the Term shall expire on the second anniversary of the first
December  31st  for  which  an  extension  of  the  Term  is not approved by the
Compensation  Committee.  In  such  event, this Agreement shall terminate at the
end of the Term then in effect and the Employer shall have no further obligation
to  the  Executive  except  for payment of amounts due and owing under Section 4
hereof  as  of  the  last  day  of  the  Term.

     3.2     Termination.  During  the  Term,  the  employment  of the Executive
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under  this  Agreement  may  be  terminated  only  as  follows:

          3.2.1     By  the  Employer:

               (a)     For  Cause, upon written notice to the Executive pursuant
          to  Section  1.5  hereof,  in  which  event the Employer shall have no
          further  obligation to the Executive except for payment of any amounts
          due  and  owing  under Section 4 on the effective date of termination;

               (b)     Without  Cause  at  any  time, provided that the Employer
          shall give the Executive thirty (30) days' prior written notice of its
          intent  to terminate, in which event the Employer shall be required to
          continue  to  meet  its obligation to the Executive under Sections 4.1
          and  4.2  for  the  remaining  Term  then  in  effect;  or

               (c)     Upon  the  Disability  of Executive at any time, provided
          that  the  Employer  shall  give the Executive thirty (30) days' prior
          written  notice  of  its  intent  to  terminate,  in  which event, the
          Employer  shall  be required to continue to meet its obligation to the
          Executive  under  Section  4.1  for  six  (6)  months  following  the
          termination or until the Executive begins receiving payments under the
          Employer's  long-term  disability  policy,  whichever  occurs  first.

          3.2.2     By  the  Executive:

               (a)     For  any  reason  other  than due to Disability, provided
          that  the  Executive  shall  give the Employer thirty (30) days' prior
          written  notice  of  his

<PAGE>
          intent to terminate, in which event the Employer shall have no further
          obligation  to the Executive except for payment of any amounts due and
          owing  under  Section  4  on  the  effective  date  of termination; or

               (b)     Upon  the  Disability  of Executive at any time, provided
          that  the  Executive  shall  give the Employer thirty (30) days' prior
          written  notice  of  its  intent  to  terminate,  in  which event, the
          Employer  shall  be required to continue to meet its obligation to the
          Executive  under  Section  4.1  for  six  (6)  months  following  the
          termination or until the Executive begins receiving payments under the
          Employer's  long-term  disability  policy,  whichever  occurs  first.

          3.2.3     At  any  time upon mutual, written agreement of the parties,
     in  which  event  the  Employer  shall  have  no  further obligation to the
     Executive  except  for payment of any amounts due and owing under Section 4
     on  the  effective  date  of  termination.

          3.2.4     Upon  expiration  of the Term as provided in Section 3.1, in
     which  event the Employer shall have no further obligation to the Executive
     except for payment of any amounts due and owing under Section 4 on the last
     day  of  the  Term  then  in  effect.

          3.2.5     Notwithstanding  anything in this Agreement to the contrary,
     the Term shall end automatically upon the Executive's death, in which event
     the  Employer  shall  have  no further obligation to the Executive's estate
     except  for  payment  of  any  amounts due and owing under Section 4 on the
     effective  date  of  termination.

          3.2.6     The  aggregate  amount  payable pursuant to Section 3.2.1(b)
     shall  be  paid  in  substantially  equal  monthly  installments  over  the
     remaining  Term.  For  purposes of Section 3.2.1(b), the bonus component of
     the  Employer's  obligation attributable to Section 4.2 shall be determined
     by  dividing  the  sum of the annual bonuses, if any, paid to the Executive
     for the three (3) calendar years (or, if fewer, the number of full calendar
     years)  immediately  preceding the calendar year of termination by the full
     number  of  calendar years so determined and dividing that result by twelve
     (12).

     3.3     Change  of Control.  If, within twenty-four (24) months following a
             ------------------
Change  of  Control,  either  the  Executive  terminates his employment with the
Employer  under  this  Agreement  for  Good Reason or the Employer involuntarily
terminates the Executive's employment under this Agreement other than for Cause,
the  Executive,  or  in  the  event  of  his  subsequent  death,  his designated
beneficiaries,  as identified to the Employer in writing in a form substantially
similar  to  Exhibit  "A"  attached  hereto  or,  in  the  absence  of  any such
designation,  his  estate,  as  the  case  may  be, shall receive, as liquidated
damages,  in  lieu of all other claims, an amount equal to two (2) times the sum
of:  (a)  his  Base  Salary  then  in  effect; and (b) the average of the annual
bonuses  paid  to  the  Executive  for  the  three  calendar-year  period ending
immediately  prior  to  the calendar year in which the Change of Control occurs.

     For  purposes  of  the  immediately preceding paragraph, in determining the
annual  bonus  component  of  the  formula,  for  any  calendar  year during the
averaging  period  in  which no annual bonus was payable, $0.00 shall be used in
the  averaging  calculation  for  that  calendar  year.  In  addition,  if  the
Executive's  termination  of  employment occurs before the annual bonus, if any,

<PAGE>
for  the  most  recently  completed calendar year is payable, then the averaging
will  be  determined  by reference to the three most recently completed calendar
years  before  that  calendar  year.

     The  amount  payable  pursuant  to  this  Section  3.3  shall  be  paid  in
substantially  equal  monthly  installments over a twenty-four (24) month period
commencing  as  of  the  first day of the calendar month following the effective
date  of  the  termination  of  employment.

     Anything in this Agreement to the contrary notwithstanding, in the event it
shall  be  determined  in  a  written  opinion  by  a  firm  of certified public
accountants  selected  by  the  Employer  (such  determination to be made within
thirty (30) days of a request by the Executive following a Change of Control) or
by  the  Internal  Revenue Service that any payment(s) or other amounts or value
transferred  by  the  Employer to or for the benefit of the Executive under this
Agreement  (collectively,  the  "Payment")  would  be  subject to the excise tax
imposed  by  Code  Section 4999 (such excise tax, together with any interest and
penalties  accrued due to the Executive's failure to pay or underpayment of such
tax  in  reliance  on  the  opinion  of  the Employer's firm of certified public
accountants, are hereinafter collectively referred to as the "Excise Tax"), then
the  Executive  shall  be entitled to receive an additional payment (a "Gross-Up
Payment")  in  an  amount  such that after payment by the Executive of all taxes
(including  any  interest  or  penalties  imposed  with  respect to such taxes),
including  any  Excise  Tax,  imposed  upon  the Gross-Up Payment, the Executive
retains  an  amount of the Gross-Up Payment equal to the Excise Tax imposed upon
the Payment.  The Executive shall promptly notify the Employer in writing of any
claim  by  the  Internal  Revenue Service that, if successful, would require the
payment  by  the  Employer of the Gross-Up Payment.  The Executive shall provide
the  Employer  with  a  reasonable  opportunity  to  contest  such  claim.

     3.4     Effect  of  Termination.
             -----------------------

          3.4.1     Upon termination of the Executive's employment hereunder for
     any  reason, the Employer shall have no further obligation to the Executive
     or  the  Executive's  estate with respect to this Agreement, except for the
     payment  of any amounts due and owing under Section 4 on the effective date
     of  termination  and  any  payments  set forth in Sections 3.2.1(b) or (c);
     Section  3.2.2(b);  or  Section  3.3,  as  applicable.

          3.4.2     Upon  either  an  involuntary termination of the Executive's
     employment  hereunder  without  Cause  (whether before or after a Change of
     Control)  or  upon  a  resignation  by the Executive for Good Reason within
     twenty-four  (24)  months  following a Change of Control and continuing for
     the lesser of eighteen (18) months or the period during which the Executive
     is  eligible  for COBRA continuation coverage, the Employer shall reimburse
     the  Executive for the cost to the Executive of COBRA continuation coverage
     for  himself  and  his  eligible dependents under the primary group medical
     plan  then  maintained  by  the  Employer  for  which the Executive and his
     dependents  are  eligible.

          3.4.3     As  a  condition  to the Employer's payment of any amount in
     connection  with a termination of the Executive's employment, the Executive
     agrees  to execute a release in such form as is acceptable to the Employer.
     The  Employer reserves the right to withhold payment of any amounts payable
     upon  termination  until the revocation period associated with such release
     expires  (generally, seven (7) days from the date the release is executed).

<PAGE>
          3.4.4     If  the  Employer  becomes obligated to pay severance to the
     Executive  under  Section  3.2.1(b)  and the Executive subsequently renders
     services  of  any  type  and  in any manner for or on behalf of a Competing
     Business  having  a  presence  in  the  Area while the payments required by
     Section  3.2.1(b)  are  continuing,  such  competing employment shall fully
     discharge  the  Employer from the obligation to make any remaining payments
     that  would  otherwise be paid to the Executive under Section 3.2.1(b) from
     and after the effective date of such competing employment. The Executive is
     required  to  provide the Employer with prompt notice of any such competing
     employment  and  shall  be  obligated to repay the Employer for any amounts
     that  may  be  received from the Employer that are attributable to payments
     due  on  or  after the date of such competing employment. Any forfeiture of
     remaining  payments  pursuant to this Section 3.4.4 shall be in addition to
     any  other  remedies  available  to  the  Employer  under  Section 9 below.

4.     Compensation.  The  Executive  shall  receive  the  following  salary and
       ------------
benefits  during  the  Term,  except  as  otherwise  provided  below:

     4.1     Base  Salary.  The Executive shall be compensated at a base rate of
             ------------
$145,000  per  year  (the  "Base Salary").  The Executive's Base Salary shall be
reviewed  by  the Chief Executive Officer of the Bank at least annually, and the
Executive  shall  be entitled to receive annually an increase in such amount, if
any,  as  may  be determined by the Chief Executive Officer of the Bank based on
its  evaluation of the Executive's performance.  Base Salary shall be payable in
accordance  with  the  Employer's  normal  payroll  practices.

     4.2     Incentive  Compensation.  The Executive shall be entitled to annual
             -----------------------
bonus  compensation,  if any, as determined by the Compensation Committee of the
Board of Directors of the Bank pursuant to any incentive compensation program as
may  be  adopted from time to time by the Bank.  Any such program shall be based
upon  the  performance  of the Employer for its fiscal year and any such program
shall  provide  that  any annual bonus otherwise earned shall be paid within two
(2)  calendar  months  after  the  end  of  that  fiscal  year.

     4.3     Automobile.     The  Employer  will  provide  the Executive with an
             ----------
automobile  of  a  make  and  model  which  is commensurate with the Executive's
position  and  approved  by  the  Employer.  The  Employer  will  reimburse  the
Executive  for expenses associated with the operation, maintenance and repair of
the automobile.  Not less frequently than once annually, the Executive will make
a  good  faith  allocation  between business and personal use of such vehicle as
required  by  the  Internal  Revenue  Service  guidelines.

     4.4     Business  Expenses;  Memberships.  The Employer specifically agrees
             --------------------------------
to  reimburse  the  Executive  for:

          (a)     reasonable  and necessary business (including travel) expenses
     incurred  by him in the performance of his duties hereunder, as approved by
     the  Chief  Operating  Officer  of  the  Bank;  and

          (b)     the  reasonable  dues  and  business  related  expenditures,
     exclusive  of  any  initiation fees, associated with membership in a single
     country  club  and  a  single  civic

<PAGE>
     association,  both  as  selected  by  the  Executive  and  in  professional
     associations  which  are  commensurate  with  his  position;

provided,  however,  that  the Executive shall, as a condition of reimbursement,
submit verification of the nature and amount of such expenses in accordance with
reimbursement  policies  from  time  to  time  adopted  by  the  Employer and in
sufficient  detail  to  comply  with  rules  and  regulations promulgated by the
Internal  Revenue  Service.

     4.5     Vacation.  The  Executive  shall  be  entitled  to paid time off in
             --------
accordance  with  the  terms  of the Employer's policy as in effect from time to
time.

     4.6     Life  Insurance.  The Employer will provide the Executive with term
             ---------------
group  life  insurance  coverage  providing  a  death  benefit  of not less than
$250,000.  Any life insurance benefits provided for under this Section 4.6 shall
payable to such beneficiary or beneficiaries as the Executive may designate.  If
the  term life insurance provided for under this Section cannot be obtained with
a  standard  or  better  risk  classification with respect to the Executive, the
Employer  shall  not  be  obligated  to  provide  such  insurance  coverage.

     4.7     Benefits.  In  addition  to  the benefits specifically described in
             --------
this  Agreement,  the  Executive  shall  be  entitled to such benefits as may be
available  from time to time to executives of the Employer similarly situated to
the  Executive.  All  such  benefits  shall  be  awarded  and  administered  in
accordance  with  the Employer's standard policies and practices.  Such benefits
may  include, by way of example only, retirement plans, dental, health, life and
disability  insurance  benefits,  and  such other benefits as the Employer deems
appropriate.

     4.8     Withholding.  The  Employer  may  deduct  from  each  payment  of
             -----------
compensation  hereunder  all  amounts  required  to  be deducted and withheld in
accordance  with  applicable  federal  and  state  income  tax,  FICA  and other
withholding  requirements.

5.     Employer  Information.
       ---------------------

     5.1     Ownership  of  Employer  Information.   All  Employer  Information
             ------------------------------------
received  or  developed  by  the  Executive  while employed by the Employer will
remain  the  sole  and  exclusive  property  of  the  Employer.

     5.2     Obligations  of  the  Executive.  The  Executive  agrees:
             -------------------------------

          (a)     to  hold  Employer  Information  in  strictest  confidence;

          (b)     not  to  use,  duplicate,  reproduce,  distribute, disclose or
     otherwise  disseminate  Employer Information or any physical embodiments of
     Employer  Information;  and

          (c)     in  any  event, not to take any action causing or fail to take
     any  action  necessary  in  order  to prevent any Employer Information from
     losing its character or ceasing to qualify as Confidential Information or a
     Trade  Secret.

<PAGE>
     In the event that the Executive is required by law to disclose any Employer
Information,  the  Executive will not make such disclosure unless (and then only
to  the extent that) the Executive has been advised by independent legal counsel
that  such  disclosure  is  required  by  law  and then only after the Executive
provides,  given  the circumstances, timely prior written notice to the Employer
when  the Executive becomes aware that such disclosure has been requested and is
required by law.  With respect to Confidential Information, this Section 5 shall
survive  for  a  period of twenty-four (24) months following termination of this
Agreement  for  any  reason, and shall survive termination of this Agreement for
any  reason for so long as is permitted by applicable law, with respect to Trade
Secrets.

     5.3     Delivery  upon  Request  or  Termination.  Upon  request  by  the
             ----------------------------------------
Employer, and in any event upon termination of his employment with the Employer,
the  Executive  will  promptly deliver to the Employer all property belonging to
the  Employer,  including,  without limitation, all Employer Information then in
his  possession  or  control.

6.     Non-Competition.  The  Executive agrees that during his employment by the
       ---------------
Employer  hereunder  and,  in  the  event  of  his  termination:

     -    by the Employer without Cause pursuant to Section 3.2.1(b); or
     -    by the Executive pursuant to Section 3.2.2(a).

for  a period of twelve (12) months thereafter, he will not (except on behalf of
or  with  the  prior  written  consent of the Employer), within the Area, either
directly  or  indirectly, on his own behalf or in the service of or on behalf of
others, as an executive officer or proposed executive officer of a new financial
institution,  undertake  for  any Competing Business duties and responsibilities
similar  to  those  undertaken  by  the  Executive  for  the  Employer.

7.     Non-Solicitation  of  Customers.  The  Executive  agrees  that during his
       -------------------------------
employment  by  the  Employer  hereunder  and,  in the event of his termination:

     -    by the Employer for Cause pursuant to Section 3.2.1(a);
     -    by the Employer without Cause pursuant to Section 3.2.1(b);
     -    by the Executive pursuant to Section 3.2.2(a); or
     -    by  the  Employer  or  the  Executive  in  connection with a Change of
          Control  pursuant  to  Section  3.3,

for  a  period  of  twenty-four  (24)  months thereafter, he will not (except on
behalf  of  or with the prior written consent of the Employer) on his own behalf
or  in  the service of or on behalf of others, solicit, divert or appropriate or
attempt to solicit, divert or appropriate, for any Competing Business any of the
Employer's  customers,  including  prospective  customers actively sought by the
Employer, with whom the Executive has or had material contact during the two (2)
year period preceding his termination of employment for the purpose of providing
products  or  services that are competitive with those provided by the Employer.

8.     Non-Solicitation  of  Employees.  The  Executive  agrees  that during his
       -------------------------------
employment  by  the  Employer  hereunder  and,  in the event of his termination:

     -    by the Employer for Cause pursuant to Section 3.2.1(a);

<PAGE>
     -    by  the  Employer  without  Cause  pursuant  to  Section  3.2.1(b);
     -    by  the  Executive  pursuant  to  Section  3.2.2(a);  or
     -    by  the  Employer  or  the  Executive  in  connection with a Change of
          Control  pursuant  to  Section  3.3,

for  a  period  of  twenty-four  (24) months thereafter, he will not, on his own
behalf  or  in  the  service of or on behalf of others, solicit, recruit or hire
away or attempt to solicit, recruit or hire away, any employee of the Company or
its  Affiliates  to  a  Competing  Business,  whether  or  not:

     -    such  employee  is a full-time employee or a temporary employee of the
          Company  or  its  Affiliates;
     -    such  employment  is  pursuant  to  written  agreement;  and
     -    such  employment  is  for  a  determined  period  or  is  at  will.

9.     Remedies.  The  Executive agrees that the covenants contained in Sections
       --------
5 through 8 of this Agreement are the of essence of this Agreement; that each of
the covenants is reasonable and necessary to protect the business, interests and
properties  of  the  Employer,  and  that  irreparable  loss  and damage will be
suffered  by the Employer should he breach any of the covenants.  Therefore, the
Executive  agrees and consents that, in addition to all the remedies provided by
law  or  in  equity,  the  Employer shall be entitled to a temporary restraining
order  and  temporary  and  permanent  injunctions  to  prevent  a  breach  or
contemplated  breach  of  any  of  the  covenants  and  shall be relieved of its
obligation  to  make any and all payments to the Executive that otherwise are or
may become due and payable to the Executive pursuant to Section 3.  The Employer
and  the  Executive  agree  that  all  remedies available to the Employer or the
Executive,  as  applicable,  shall  be  cumulative.

10.     Severability.  The parties agree that each of the provisions included in
        ------------
this  Agreement is separate, distinct and severable from the other provisions of
this  Agreement  and  that  the  invalidity or unenforceability of any Agreement
provision shall not affect the validity or enforceability of any other provision
of this Agreement.  Further, if any provision of this Agreement is ruled invalid
or  unenforceable  by  a  court  of competent jurisdiction because of a conflict
between  the  provision  and  any applicable law or public policy, the provision
shall be redrawn to make the provision consistent with and valid and enforceable
under  the  law  or  public  policy.

11.     No Set-Off by the Executive.  The existence of any claim, demand, action
        ---------------------------
or  cause  of  action by the Executive against the Employer, or any Affiliate of
the  Company,  whether  predicated  upon  this Agreement or otherwise, shall not
constitute  a  defense  to  the enforcement by the Employer of any of its rights
hereunder.

12.     Notice.  All  notices,  requests,  waivers  and  other  communications
        ------
required  or  permitted  hereunder  shall  be  in writing (including telecopy or
similar  writing),  addressed  as  follows:

          (i)  If to the Employer, to it at:

               Georgia Bank & Trust Company of Augusta
               3530 Wheeler Road
               Augusta, Georgia 30909

<PAGE>
               Attn:  Ron  Thigpen
                    ---------------------------

          (ii) If to the Executive, to him at:
               Darrell  Rains
               --------------------------------
               115 Highberry Ct
               --------------------------------
               Aiken, SC 29803
               --------------------------------

All  such notices, requests, waivers and other communications shall be deemed to
have  been  effectively  given  (a) when personally delivered to the party to be
notified;  (b)  when  sent by confirmed facsimile to the party to be notified at
the  number  set  forth  above; (c) three (3) business days after deposit in the
United  States  Mail postage prepaid by certified or registered mail with return
receipt  requested and addressed to the party to be notified as set forth above;
or  (d)  one  (1)  business day after deposit with a national overnight delivery
service,  postage  prepaid,  addressed  to the party to be notified as set forth
above  with next-business-day delivery guaranteed. A party may change its or his
notice  address  given  above  by  giving the other party ten (10) days' written
notice  of  the new address in the manner set forth above.  Any party hereto may
change  his  or its address by advising the other, in writing, of such change of
address.

13.     Assignment.  This  Agreement is generally not assignable by the Employer
        ----------
except  that  the  rights  and  obligations of the Employer under this Agreement
shall  inure  to  the  benefit  of  and shall be binding upon the successors and
assigns  of  the Employer.  The Agreement is a personal contract and the rights,
interests  and  obligations  of  the Executive may not be assigned by him.  This
Agreement  shall inure to the benefit of and be enforceable by the Executive and
his  personal  or  legal representatives, executors, administrators, successors,
heirs,  distributes,  devisees  and  legatees.

14.     Waiver.  A  waiver  by one party to this Agreement of any breach of this
        ------
Agreement  by  another  party to this Agreement shall not be effective unless in
writing,  and no waiver shall operate or be construed as a waiver of the same or
another  breach  on  a  subsequent  occasion.

15.     Arbitration.  Except  for  matters contemplated by Section 17 below, any
        -----------
controversy  or claim arising out of or relating to this contract, or the breach
thereof,  shall  be  settled  by  binding  arbitration  in  accordance  with the
Commercial  Arbitration Rules of the American Arbitration Association.  Judgment
upon  the  award rendered by the arbitrator may be entered only in a state court
of  Richmond  County,  Georgia or the federal court for the Southern District of
Georgia.  The  Employer  and  the  Executive agree to share equally the fees and
expenses  associated  with  the  arbitration  proceedings.
Executive  must  initial  here:  /s/  DR
                                 -------

16.     Attorneys'  Fees.  With  respect  to  arbitration  of  disputes  and  if
        ----------------
litigation  ensues  between  the  parties  concerning  the  enforcement  of  an
arbitration  award  and the Executive prevails in the dispute, the Employer will
pay  and  be  financially  responsible  for  all  costs,  expenses,  reasonable
attorneys'  fees  and  reasonable  expenses  incurred  by  the Executive (or the
Executive's  estate  in  the event of his death) in connection with the dispute.

17.     Applicable  Law  and Choice of Forum.  This Agreement shall be construed
        ------------------------------------
and enforced under and in accordance with the laws of the State of Georgia.  The
parties  agree  that any appropriate state court in Richmond County, Georgia, or
federal  court  located  in  or

<PAGE>
embracing  Richmond  County,  Georgia,  shall have exclusive jurisdiction of any
case  or controversy arising under or in connection with Sections 5 through 9 of
this  Agreement  shall  be  a  proper  forum in which to adjudicate such case or
controversy.  The parties consent and waive any objection to the jurisdiction or
venue  of  such  courts.

18.     Interpretation.  Words  importing any gender include all genders.  Words
        --------------
importing  the singular form shall include the plural and vice versa.  The terms
"herein,"  "hereunder," "hereby," "hereto," "hereof" and any similar terms refer
to  this  Agreement.  Any captions, titles or headings preceding the text of any
article,  section  or  subsection herein are solely for convenience of reference
and  shall  not  constitute  part  of  this  Agreement  or  affect  its meaning,
construction  or  effect.

19.     Entire  Agreement.  This  Agreement  embodies  the  entire  and  final
        -----------------
agreement  of  the  parties  on the subject matter stated in this Agreement.  No
amendment  or  modification of this Agreement shall be valid or binding upon the
Employer  or  the  Executive  unless made in writing and signed by both parties.
All  prior  understandings and agreements relating to the subject matter of this
Agreement  are  hereby  expressly terminated, including, but not limited to, the
offer  letter  between  the  parties  dated  September 6, 2005 and the Change in
Control  Agreement  between  the  parties  dated  January  3,  2006.

20.     Rights  of  Third  Parties.  Nothing  herein expressed is intended to or
        --------------------------
shall  be  construed to confer upon or give to any person, firm or other entity,
other  than  the  parties  hereto  and  their  permitted  assigns, any rights or
remedies  under  or  by  reason  of  this  Agreement.

21.     Survival.  The  obligations  of the Executive pursuant to Sections 5, 6,
        --------
7,  8  and  9  shall  survive the termination of the employment of the Executive
hereunder  for  the  period  designated under each of those respective Sections.

22.     Representation  Regarding  Restrictive  Covenants.  The  Executive
        -------------------------------------------------
represents  that  he is not and will not become a party to any noncompetition or
nonsolicitation  agreement  or any other agreement which would prohibit him from
entering  into  this  Agreement  or  providing  the  services  for  the Employer
contemplated by this Agreement on or after the Effective Date.  In the event the
Executive  is  subject  to  any such agreement, this Agreement shall be rendered
null  and void and the Employer shall have no obligations to the Executive under
this  Agreement.

     IN  WITNESS  WHEREOF,  the  Employer  and  the  Executive have executed and
delivered  this  Agreement  as  of  the  date  first  shown  above.

                                      THE BANK:

                                      GEORGIA BANK & TRUST COMPANY
                                      OF AUGUSTA

                                      By:  /s/  Ronald  Thigpen
                                         ------------------------------------
                                      Print Name:  Ronald Thigpen
                                                 ----------------------------
                                      Title:  Executive Vice President
                                              -------------------------------
                                              and Chief Operating Officer
                                              -------------------------------

<PAGE>
                                      THE EXECUTIVE:

                                           /s/  Darrell R Rains
                                      ---------------------------------------
                                      Darrell R. Rains

<PAGE>
     EXHIBIT  A
     ----------

     DESIGNATION  OF  BENEFICIARY  FORM

Pursuant  to  Section  3.3  of  that  certain  employment agreement by and among
Georgia  Bank  &  Trust  Company  of  Augusta,  and  ___________________  dated
_______,__  200__  (the  "Agreement"), I, ____________________, hereby designate
the  beneficiary(ies)  listed  below to receive any benefits under the Agreement
that  may  be  due following my death. This designation shall replace and revoke
any  prior  designation  of  beneficiary(ies)  made  by  me under the Agreement.

Full  Name(s),  Address(es)  and  Social  Security  Number(s)  of  Primary
Beneficiary(ies)*:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

*If  more  than  one  beneficiary  is  named above, the beneficiaries will share
equally  in any benefits, unless you have otherwise provided above.  Further, if
you have named more than one beneficiary and one or more of the beneficiaries is
deceased  at  the  time of your death, any remaining beneficiary(ies) will share
equally,  unless  you  have  provided otherwise above. If no primary beneficiary
survives  you, then the contingent beneficiary designated below will receive any
benefits  due  upon your death.  In the event you have no designated beneficiary
upon  your  death,  any  benefits due will be paid to your estate.  In the event
that you are naming a beneficiary that is not a person, please provide pertinent
information  regarding  the  designation.

Full Name, Address and Social Security Number of Contingent Beneficiary:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Date
     -------------------------           ---------------------------------------
                                                   Darrell R. RainsEXHIBIT 10.2

STATE  OF  GEORGIA          )
                            )
COUNTY  OF  RICHMOND        )

EXECUTIVE  SALARY  CONTINUATION  AND  PARTICIPATION  AGREEMENT
--------------------------------------------------------------

     THIS  AGREEMENT,  made  and  entered  into  this  1st  day of January, 2007
(hereinafter  called  the  "Agreement"  or  "Participation  Agreement"  in  this
document)  by  and  between  Georgia  Bank & Trust Company of Augusta, a banking
corporation  organized  and  existing  under  the  laws  of the State of Georgia
(hereinafter  called  the "Bank"), and R. Daniel Blanton (hereinafter called the
"Executive").

                                   WITNESSETH:

     WHEREAS, the Executive is in the employ of the Bank serving as an executive
officer,  and

     WHEREAS,  the  experience of the Executive, his knowledge of the affairs of
the  Bank,  his  reputation  and  contacts  in the industry are so valuable that
assurance  of  his  continued  services  is  essential for the future growth and
profits  of the Bank it is in the best interests of the Bank to arrange terms of
continued  employment for the Executive so as to reasonably assure him remaining
in the Bank's employment during his lifetime or until the age of retirement; and

     WHEREAS, it is the desire of the Bank that the services of the Executive be
retained  as  herein  provided;  and

     WHEREAS,  the  Bank  has  established  a Non-Qualified Defined Benefit Plan
(hereinafter  called  the  "Plan")  as  of  the  first  day  of  October,  2000;

     WHEREAS,  the Executive accepts the Bank's invitation to participate in the
Plan  and  hereby  acknowledges  having  read  the  Plan,  understood its terms,
understood  that  benefits  will  paid  pursuant  to the Plan only under certain
circumstances  described  therein,  understood  that  the Executive is a general
creditor  of the Bank, or its successors and assigns, and that the Executive has
no  interest  in  specific  assets  owned  by  the  Bank;

     WHEREAS,  the  Executive  is  willing to continue in the employ of the Bank
provided  the  Bank  agrees  to pay him or his beneficiaries certain benefits in
accordance  with  the  terms  and  conditions  hereafter  set  forth;

     NOW,  THEREFORE,  in  consideration  of the services to be performed in the
future,  as  well  as  the  mutual promise and covenants herein contained, it is
agreed  as  follows:

                                        1
<PAGE>
ARTICLE  1.
Definitions

1.1. Beneficiary  -  The  term beneficiary shall mean the person or persons whom
     the  Executive  shall designate in writing to receive the benefits provided
     hereunder  and  as  further  designated  on  the  Executive's  Beneficiary
     Designation  shown  as  Schedule  B  hereto.

1.2. Disability  - For the purposes of this Agreement, Executive shall be deemed
     to  have  a  Disability  if  Executive  (i)  is  unable  to  engage  in any
     substantial  gainful  activity  by  reason  of  any  medically determinable
     physical  or  mental impairment which can be expected to result in death or
     can  be expected to last for a continuous period of not less than 12 months
     or  (ii)  is,  by  reason  of any medically determinable physical or mental
     impairment  which  can be expected to result in death or can be expected to
     last  for  a continuous period of not less than 12 months, receiving income
     replacement  benefits  for  a  period  of  not  less than 3 months under an
     accident  and  health plan covering the Bank's employees. The determination
     of  whether  Executive  has  a "Disability" under clause (i) above shall be
     made  by  a  licensed  physician selected by the Bank's Board of Directors.

1.3. Named Fiduciary  and  Plan Administrator - The Bank is hereby designated as
     the  Named  Fiduciary  and  the  Compensation  Committee  of  the  Board of
     Directors  of  the  Bank is hereby designated as the Plan Administrator for
     this  Agreement.

ARTICLE  2.
Terms  of  Employment

2.1. Employment  -  The  Bank agrees to employ the Executive in such capacity as
     the  Bank  may  from time to time determine. The Executive will continue in
     the  employ  of  the  Bank  in  such  capacity  and  with  such  duties and
     responsibilities  as  may be assigned to him, and with such compensation as
     may  be determined from time to time by the Board of Directors of the Bank.

2.2. Full Efforts  -  The Executive agrees to devote his full time and attention
     exclusively to the business and affairs of the Bank, except during vacation
     periods,  and  to use his best efforts to furnish faithful and satisfactory
     services  to  the  Bank.

2.3. Fringe  Benefits  -  The  salary  continuation  benefits  provided  by this
     Agreement  are granted by the Bank as a fringe benefit to the Executive and
     are  not  part  of any salary reduction plan or any arrangement deferring a
     bonus or a salary increase. The Executive has no option to take any current
     payment  or  bonus  in  lieu  of  these  salary  continuation  benefits.

                                        2
<PAGE>
ARTICLE  3.
Benefits

3.1. Retirement  - If the Executive shall continue in the employment of the Bank
     until  he  attains  the  age  of sixty-five (65), he may retire from active
     daily employment as of the first day of the month next following attainment
     of  sixty-five  (65) or upon such later date as may be mutually agreed upon
     by  the  Executive  and  the  Bank.

3.2. Payment  -  The  Bank  agrees  that upon such retirement it will pay to the
     Executive  the  annual  sum  of forty thousand dollars ($40,000) for twenty
     (20)  years.  The  benefit will be payable monthly on the first day of each
     month  beginning with the seventh (7th) month following such retirement and
     ending  on  the  month  that  is  two hundred forty (240) months after such
     retirement;  subject  to  the  conditions  and  limitations hereinafter set
     forth. The first monthly payment shall be equal to 7/12 of the total annual
     payment,  and each of the 233 monthly payments thereafter shall be equal to
     1/12  of  the  total  annual  payment.

3.3. Payment  After  Death  -  The  Bank  agrees that if the Executive shall die
     before  receiving  the  full  amount  of  monthly  payments  to which he is
     entitled hereunder (if any), it will continue to make such monthly payments
     to  the  Executive's  designated  beneficiary for the remaining period. The
     Executive  shall execute a Beneficiary Designation as shown on the attached
     Schedule  B,  but  if a valid Beneficiary Designation is not in effect, the
     payment shall be made to the Executive's surviving spouse or, if none, said
     payments  shall  be  made  to  the  duly qualified personal representative,
     executor  or  administrator  of  his  estate.

3.4. [Intentionally  Omitted]

3.5. Death or Disability Prior to Retirement - In the event the Executive should
     die  or  become  Disabled  while actively employed by the Bank, at any time
     after  the  date  of  this  Agreement  but  prior to age sixty-five (65) of
     Executive,  the  Executive  will  be  considered to be vested in the annual
     benefit amount set forth in Schedule A corresponding with the year in which
     the  death  occurred  or  the Disability commenced, payable monthly for 240
     months  to  Executive  (in  the  case  of Disability) or to the Executive's
     beneficiary  or estate as contemplated by Section 3.3 above (in the case of
     death)  beginning  with  the  month  following  death  or  Disability,  as
     applicable.

ARTICLE  4.
Termination

4.1. Termination  of  Employment  - The Bank reserves the right to terminate the
     employment  of  the Executive at any time prior to retirement. In the event
     that the employment of the Executive shall terminate prior to him attaining
     age  sixty-five  (65),  other  than  by  reason  of

                                        3
<PAGE>
     his  Disability  or  his  death,  the  Executive  shall  be entitled to the
     following  benefits  under  the  following  circumstances:

          4.1.1.  If  the  Executive  is  terminated  with  reasonable cause (as
                  defined  below), Executive shall receive no benefit under this
                  Agreement  and  shall  lose any right to any benefit vested at
                  the  time  of  termination.

          4.1.2.  If  the  Executive  voluntarily terminates employment with the
                  Bank  prior  to  age  fifty-five  (55) of Executive, Executive
                  shall  receive  no benefit under this Agreement and shall lose
                  any right to any benefit vested at the time of termination. If
                  the  Executive voluntarily terminates employment with the Bank
                  prior  to  retirement  after  Executive  has  attained  age
                  fifty-five  (55), the Executive will receive a reduced benefit
                  based upon the vesting schedule attached hereto as Schedule A.
                  The  benefits  will  be  paid  for  twenty (20) years, payable
                  monthly  for  two  hundred  forty  (240)  consecutive  months
                  commencing  on  the  later of (i) Executive's 65th birthday or
                  (ii)  seven  (7)  months  after the termination of Executive's
                  employment  with  the  Bank.

          4.1.3.  Anything  hereinabove  to the contrary notwithstanding, if the
                  Bank  terminates  the Executive's employment involuntarily for
                  any  reason  other  than  "reasonable  cause",  or if the Bank
                  undertakes  any  action or course of action designed to induce
                  the  Executive to terminate his employment (e.g., reducing the
                  Executive's  title  or  responsibilities,  reducing  the
                  Executive's  compensation  disproportionately  as  compared to
                  reductions  for  other Bank executives), the Bank shall pay to
                  the  Executive  the  full  retirement  benefits  described  in
                  Section  3.2 for twenty (20) years. The benefits shall be paid
                  commencing  on  the  later of (i) Executive's 65th birthday or
                  (ii)  seven  (7)  months  after the termination of Executive's
                  employment with the Bank. If the payments begin on Executive's
                  65th  birthday,  then  the  benefit  shall  be  paid  in  240
                  consecutive,  equal  monthly payments. If the payments start 7
                  months after termination of employment, then the first payment
                  shall  be equal to 7/12 of the annual benefit, and there shall
                  be  233  consecutive,  equal  monthly  payments  thereafter.
                  "Reasonable  cause"  means  the  Executive's gross negligence,
                  fraud  or  conviction  for any willful violation of any law or
                  significant  regulatory  policy,  committed in connection with
                  the Executive's employment and resulting in a material adverse
                  effect  on  the  Bank.  "Reasonable  cause"  shall not include
                  ordinary negligence or failure to act, whether due to an error
                  in  judgment  or  otherwise,  if  the  Executive

                                        4
<PAGE>
                  has exercised substantial efforts in good faith to perform the
                  duties  reasonably  assigned  or  appropriate to the position.

          4.1.4.  Anything  hereinabove  to  the  contrary  notwithstanding, the
                  Executive  shall  become  fully  vested in the benefit payment
                  previously described in Section 3.2 in the event of a transfer
                  in the controlling ownership or sale of the Bank or its parent
                  (a  "change  of  control").  This  benefit  shall  remain  an
                  obligation  of  the  Bank  and  its successors regardless of a
                  change  of  control  or  continued employment of the Executive
                  after  the  change  of  control.  The benefit shall be paid in
                  accordance  with  Section 3.2, commencing in the seventh (7th)
                  month  following  the  termination  of Executive's employment.
                  From and after the occurrence of a change of control, the Bank
                  shall  pay  all reasonable legal fees and expenses incurred by
                  the  Executive  seeking  to  obtain  or  enforce  any right or
                  benefit provided by this Agreement promptly from time to time,
                  at  the  Executive's  request,  as  such fees and expenses are
                  incurred;  provided,  however,  that  the  Executive  shall be
                  required  to reimburse the Bank for any such fees and expenses
                  if  a  court or any other adjudicator agreed to by the parties
                  determines  that  the Executive's claim is without substantial
                  merit.  The  Executive  shall not be required to pay any legal
                  fees  or  expenses incurred by the Bank in connection with any
                  claim  or  controversy  arising  out  of  or  relating to this
                  Agreement,  or  any  breach  thereof.

4.2. Termination of Agreement by Reason of Changes in Law - The Bank is entering
     into this Agreement upon the assumption that certain existing tax laws will
     continue in effect in substantially their current form. In the event of any
     changes in such federal laws, the Bank shall have an option to terminate or
     modify  this  Agreement;  provided,  however,  that  the Executive shall be
     entitled  to  at  least  the same amounts as he would have been entitled to
     under  Article 3 hereof. The payment of said amount shall be made upon such
     terms  and  conditions  and,  at  such  time  as  the  Bank shall determine
     appropriate  to  obtain favorable tax treatment, but in no event commencing
     later than age sixty-five (65) or 6 months after termination of Executive's
     employment  (whichever  is  later).

4.3. Competition  with  Bank  -  Anything  in  this  Agreement  to  the contrary
     notwithstanding  (but  subject to the following proviso), if the Executive,
     directly  or indirectly, at any time after the execution of this Agreement,
     owns,  manages, operates, joins, controls or participates in or is employed
     by  or  gives  consultation  or  advice to or extends credit to (other than
     through insured deposits) or otherwise is connected in any manner, directly
     or  indirectly  with,  any  bank, financial institution, firm, person, sole
     proprietorship,  partnership,  corporation,  company or other entity (other
     than the Bank or entities controlled or under common control with the Bank)
     that  provides financial services, including, without limitation, retail or
     commercial  lending  services,  and  has  an  office within 50 miles of any
     banking

                                        5
<PAGE>
     location  of  the  Bank  or  any  of  its  affiliates,  then the Bank shall
     have  the  option,  in  its  sole and absolute discretion, to terminate the
     Executive's right to receive any benefits under this Agreement (and, to the
     extent  Executive  may  already  have  begun  receiving benefits hereunder,
     terminate  Executive's  right  to  receive any further benefits hereunder);
     provided,  however,  that (i) this Section 4.3 shall be of no further force
     and  effect  after  a change of control occurs, (ii) this Section 4.3 shall
     not  apply  if  Executive's  employment with Bank is terminated by the Bank
     other  than for reasonable cause prior to age 65 of the Executive and (iii)
     nothing  in  this Section 4.3 shall prohibit the Executive from owning less
     than one percent (1%) of the outstanding shares of any company whose common
     stock  is  publicly  traded.

ARTICLE  5.
Miscellaneous

5.1. Nonassignability  -  Neither  the  Executive,  his  spouse,  nor  any other
     beneficiary under this Agreement shall have any power or right to transfer,
     assign,  anticipate,  hypothecate,  mortgage, commute, modify, or otherwise
     encumber in advance any of the benefits payable hereunder, nor shall any of
     said  benefits  be  subject  to  seizure  for  the  payment  of  any debts,
     judgments,  alimony  or separate maintenance, owned by the Executive or his
     beneficiary  or  any of them, or be transferable by operation of law in the
     event  of  bankruptcy,  insolvency  or  otherwise.

5.2. Claims  Procedure  - The Bank shall make all determinations as to rights to
     benefits  under this Agreement. Any decision by the Bank denying a claim by
     the Executive or his beneficiary for benefits under this Agreement shall be
     stated  in  writing  and  delivered  or  mailed  to  the  Executive or such
     beneficiary.  Such  decision  shall  set forth the specific reasons for the
     denial,  written  to  the  best  of  the  Corporation's ability in a manner
     calculated  to  be  understood  without  legal  or  actuarial  counsel.  In
     addition,  the Bank shall provide a reasonable opportunity to the Executive
     or  such  beneficiary for full and fair review of the decision denying such
     claim.

5.3. Unsecured  General  Creditor - The Executive and his beneficiary shall have
     no  legal  right  or  equitable  rights,  interests, or claims in or to any
     property  or  assets of the Bank. No assets of the Bank shall be held under
     any  trust for the benefit of the Executive or his beneficiaries or held in
     any way as security for the fulfilling of the obligations of the Bank under
     this  plan.  All  of  the  Bank's  assets  shall be and remain the general,
     unpledged,  unrestricted  assets  of  the Bank. The Bank's obligation under
     this plan shall be that of an unfunded and unsecured promise by the Bank to
     pay  money  in  the  future.  Executives  and  their beneficiaries shall be
     unsecured  general  creditors  with  respect  to  any  benefits  hereunder.

                                        6
<PAGE>
5.4. Reorganization  -  The  Bank  shall  not  merge or consolidate into or with
     another  Bank,  or  reorganize,  or sell substantially all of its assets to
     another  Bank,  firm,  or  person  unless  and  until  such  succeeding  or
     continuing  Bank,  firm,  or  person  agrees  to  assume  and discharge the
     obligations  of  the Bank under this Agreement. Upon the occurrence of such
     event,  the  term "Bank" as used in this Agreement shall be deemed to refer
     to  such  successor  or  survivor  Bank.

5.5. Binding  Effect  -  This  Agreement  shall be binding upon and inure to the
     benefits  of  the  Executive and his personal representatives, and the Bank
     and any successor organization, which shall succeed to substantially all of
     its  assets  and  business.

5.6. Not a Contract  of  Employment  -  This  agreement  shall  not be deemed to
     constitute  a  contract of employment between the parties hereto, nor shall
     any  provision  hereof  restrict  the  right  of  the Bank to discharge the
     Executive,  or  restrict  the  right  of  the  Executive  to  terminate his
     employment.

ARTICLE  6.
Participation  in  Plan

6.1  Acceptance  of Invitation to Participate in the Plan - The Executive hereby
     agrees  to  accept  the  invitation of the Bank to participate in the Plan,
     subject  to  its  terms  and  conditions  as  set  forth  therein.

6.2  In the event of any inconsistency between the Plan and this Agreement, this
     Agreement  shall  control.

6.3  Nothing  herein  shall  limit or otherwise affect the terms of, or benefits
     available  under,  any other agreement between the Bank and Executive under
     the  Plan.

     IN  WITNESS  WHEREOF,  the  Bank  has  caused  this  Agreement  to  be duly
     executed  by its proper officer and the Executive has hereunto set his hand
     at  Augusta,  Georgia,  the  day  and  year  first  above  written.

                                   Georgia Bank & Trust Company of Augusta

                                   By:   /s/ E. G. Meybohm
                                      ------------------------------------------

                                   Its:  Chairman of the Board
                                      ------------------------------------------

                                   EXECUTIVE:

                                         /s/ R Daniel Blanton
                                   ---------------------------------------------

                                        7
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE  A

     Date of Death, Disability or Voluntary  Vested Annual Benefit
     --------------------------------------  -----------------------
     Termination of Employment
     --------------------------------------
                                             (payable monthly)
<S>                                          <C>
     January 1, 2007 to December 31, 2007    $0
     January 1, 2008 to December 31, 2008    $4,444
     January 1, 2009 to December 31, 2009    $8,888
     January 1, 2010 to December 31, 2010    $13,332
     January 1, 2011 to December 31, 2011    $17,776
     January 1, 2012 to December 31, 2012    $22,220
     January 1, 2013 to December 31, 2013    $26,664
     January 1, 2014 to December 31, 2014    $31,108
     January 1, 2015 to June 27, 2015        $35,552
</TABLE>

                                        8
<PAGE>
SCHEDULE  B
BENEFICIARY  DESIGNATION
FOR
EXECUTIVE  SALARY  CONTINUATION  AND
PARTICIPATION  AGREEMENT

To  the  Plan  Administrator  of  the Georgia Bank & Trust Company Non-Qualified
Defined  Benefit  Plan  for  the  benefit  of  R.  Daniel  Blanton:

Pursuant to the Provisions of my Executive Salary Continuation and Participation
Agreement  with  Georgia  Bank  & Trust Company of Augusta dated January 1, 2007
permitting the designation of a beneficiary or beneficiaries by a participant, I
hereby  designate  the  following  persons and entities as primary and secondary
beneficiaries of any benefit under said Agreement payable by reason of my death:

Primary  Beneficiary:

Name          Social Security Number         Relationship
----------    --------------------------    --------------------

----------    --------------------------    --------------------

----------    --------------------------    --------------------

Secondary  (Contingent)  Beneficiary:

Name          Social Security Number         Relationship
----------    --------------------------    --------------------

----------    --------------------------    --------------------

----------    --------------------------    --------------------

THE  RIGHT  TO  REVOKE OR CHANGE ANY BENEFICIARY DESIGNATION IS HEREBY RESERVED.
ALL PRIOR DESIGNATIONS, IF ANY, OF BENEFICIARIES AND SECONDARY BENEFICIARIES ARE
HEREBY  REVOKED.

The  Plan Administrator shall pay all sums payable under the Agreement by reason
of  my  death  to  the  Primary Beneficiary, if he or she survives me, and if no
Primary  Beneficiary shall survive me, then to the Secondary Beneficiary, and if
no  named  beneficiary  survives  me,  then the Plan Administrator shall pay all
amounts  in  accordance  with the terms of the Executive Salary Continuation and
Participation  Agreement  dated  January  1,  2007.  In  the  event that a named
beneficiary  survives  me and dies prior to receiving the entire benefit payable
under  said  Agreement,  then  and  in that event, the remaining unpaid benefit,
payable  according  to  the  terms

                                        9
<PAGE>
of the Agreement, shall be payable to the personal representatives of the estate
of  said  deceased  beneficiary,  who survive me, but die prior to receiving the
total  benefit.

---------------------              ------------------------
Date  of  Designation              Signature  of  Executive

                                       10

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