Document:

<PAGE>
                                                                    EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT is made as of the 4th day of January, 1999, between
NET.B@NK, INC. (the "Company"), the parent bank holding company of NET.B@NK, a
federal savings bank (collectively, the "Employer"), and D.R. GRIMES, a resident
of the State of Georgia (the "Executive").

                                    RECITALS:

         The Company desires to employ the Executive as the Chief Executive
Officer of the Employer and the Executive desires to accept such employment.

         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 their
variant forms shall have the meaning set forth below:

      1.1 "AGREEMENT" shall mean this Agreement and any Exhibits incorporated
herein together with any amendments hereto made in the manner described in this
Agreement.

      1.2 "AFFILIATE" shall mean any business entity which controls, is
controlled by, or is under common control with, the Employer.

      1.3 "AVERAGE MONTHLY COMPENSATION" shall mean the quotient determined (a)
by dividing the sum of the Executive's then-current annual Base Salary (as
defined in Section 4.1), and Incentive Compensation (as set forth in Section
4.2(a)) (b) by twelve (12). For this purpose, Incentive Compensation dependent
on Executive's performance shall be based upon the greater of the Incentive
Compensation earned by Executive in the prior calendar year or the Incentive
Compensation which would be earned by Executive by annualizing the performance
of the Employer based on year-to-date performance.

      1.4 "BUSINESS OF THE EMPLOYER" shall mean the business conducted by the
Employer, which is internet-based commercial banking.

      1.5   "CAUSE" shall mean:

            1.5.1  With respect to termination by the Company:

                 (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, or a breach of any
            representation or warranty of the Executive set forth herein); which
            breach remains uncured after the expiration of thirty (30) days
            following the delivery of written notice of such breach to the
            Executive by the Company;
<PAGE>

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

                 (c)  The conviction of the Executive of a felony;

                 (d) Conduct by the Executive that amounts to gross and willful
            insubordination or inattention to his duties and responsibilities
            hereunder; or

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

            1.5.2 With respect to termination by the Executive, a material
      diminution in the powers, responsibilities or duties of Executive
      hereunder, or the failure of the Boards of Directors of the Bank and the
      Company to elect him as Chief Executive Officer, or a material breach of
      the terms of this Agreement by the Company which remains uncured after the
      expiration of thirty (30) days following the delivery of written notice of
      such breach to the Executive by the Company.

      1.6 "CHANGE IN CONTROL" of the Employer shall mean any transaction wherein
fifty percent (50%) of the shares of the Bank or the Company, plus at least one
additional share, are directly or indirectly transferred by sale, gift, merger,
exchange or any other means to new owners other than an Affiliate of such person
or entity transferring such shares or if a majority of the members of the Board
of Directors of the Bank or of the Company are replaced within a twelve (12)
month period.

      1.7 "INITIAL TERM" shall mean that period of time commencing on the date
of execution of this Agreement by the Company and the Executive and running
until the earlier of three (3) years thereafter or any termination of employment
of the Executive under this Agreement as provided for in Section 3.

      1.8 "PERMANENT DISABILITY" shall mean the total inability of the Executive
to perform his duties under this Agreement for a period of ninety (90)
consecutive days as certified by a physician chosen by the Company and
reasonably acceptable to the Executive; provided, however, if the Executive is
covered by a disability insurance policy, the term "permanent disability" shall
have the meaning set forth in such policy.

      1.9   "PROPRIETARY INFORMATION" shall mean:

            (a)  Information related to the Employer or any Affiliate,

                                      -2-
<PAGE>

                 (i) Which derives economic value, actual or potential, from not
                 being generally known to or readily ascertainable by other
                 persons who can obtain economic value from its disclosure or
                 use; and

                 (ii) Which is the subject of efforts that are reasonable under
                 the circumstances to maintain its secrecy; and

            (b) All tangible reproductions or embodiments of such information.

Assuming the criteria in (a)(i) and (a)(ii) above are satisfied, Proprietary
Information includes, but is not limited to, technical and nontechnical data
related to the compilations, programs, methods, techniques, finances, actual or
potential customers and suppliers, existing and future products, and employees
of the Employer or its Affiliates. Proprietary Information also includes
information which has been disclosed to the Employer or its Affiliates by a
third party and which the Employer or any Affiliate is obligated to treat as
confidential.

      1.10 "TERM" shall mean the Initial Term and all subsequent renewal
periods. The Term shall be automatically extended on each day for one additional
day, beginning on the first day of the Initial Term, so that the Term shall
remain a three-year term until either party gives written notice to the other
that the automatic extensions shall cease, whereupon the Term shall expire on
the day preceding the Third Anniversary of the date of delivery of the written
notice.

2.    DUTIES.

      2.1 The Executive is employed initially as the Chief Executive Officer of
the Employer and, subject to the direction of the Boards of Directors of the
Employer, shall perform and discharge well and faithfully the duties which may
be assigned to him from time to time by the Employer in connection with the
conduct of its business. The duties and responsibilities of the Executive are
set forth on EXHIBIT A attached hereto.

      2.2 In addition to the duties and responsibilities specifically assigned
to the Executive pursuant to Section 2.1 hereof, the Executive shall: (1) 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; (2) diligently follow and implement all management policies
and decisions communicated to him by the Boards of Directors of the Employer;
and (3) timely prepare and forward to the Board of Directors of the Employer all
reports and accounting as may be requested of the Executive.

      2.3 The Executive shall devote substantially his entire business time,
attention and energies to the Business of the Employer and shall not during the
term of this Agreement be engaged (whether or not during normal business hours)
in any other business or professional activity which

                                      -3-
<PAGE>

is competitive in nature; or interferes with his ability to perform his
duties fully; or which promotes an activity inconsistent with the nature or
status of the Employer, whether or not such activity is pursued for gain,
profit or other pecuniary advantage; but this shall not be construed as
preventing the Executive from (1) investing his personal assets in businesses
which (subject to item (2) below) are not in competition with the Business of
the Employer and which will not require any services on the part of the
Executive in their operation or affairs and in which his participation is
solely that of an investor, (2) purchasing securities in any corporation
whose securities are regularly traded provided that such purchase shall not
result in his collectively owning beneficially at any time five percent (5%)
or more of the equity securities of any business in competition with the
Business of the Employer, and (3) participating in civic and professional
affairs and organizations and conferences, preparing or publishing papers or
books or teaching so long as such activity does not materially interfere with
the performance of his duties hereunder.

3.    TERM AND TERMINATION.

      3.1 TERM. This Agreement shall remain in effect for the Term. However,
notwithstanding the provisions of Section 1.8, (i) no extension shall be granted
that would extend the term of this Agreement beyond the last day of the month
during which the Executive attains age 65, and (ii) this Agreement shall
terminate upon the death or Permanent Disability of Executive.

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

            3.2.1  By the Company:

(a) For Cause, with no prior notice except as provided in Section 1.5.1; or

                 (b) Without Cause at any time, provided that the Company shall
            give the Executive thirty (30) days prior written notice of its
            intent to terminate.

            3.2.2  By the Executive:

                 (a)  For Cause, with no prior notice except as provided in
            Section 1.5.2; or

                 (b) Without Cause, provided that the Executive shall give the
            Company thirty (30) days prior written notice of his intent to
            terminate.

            3.2.3 By the Executive within twelve (12) months following a Change
            in Control of the Employer, provided that the Executive shall give
            written notice to the Company of his intention to terminate this
            Agreement within such period.

            3.2.4 At any time upon mutual, written agreement of the parties.

                                      -4-

<PAGE>

      3.3 EFFECT OF TERMINATION. The effect of termination of the employment of
the Executive pursuant to Section 3.2 shall be as follows:

            3.3.1  In the event of termination by the Company:

                 (a) For Cause, pursuant to Section 3.2.1(a), the Company shall
            have no further obligation to the Executive except for the payment
            of any amounts due and owing under Section 4 on the effective date
            of termination;

                 (b) Without Cause, pursuant to Section 3.2.1(b), the Company
            shall be required to meet its obligations to the Executive under
            Section 3.4 below.

            3.3.2  In the event of termination by the Executive:

                 (a) For Cause, pursuant to Section 3.2.2(a), the Company shall
            be required to meet its obligations to the Executive under Section
            3.4 below.

                 (b) Without Cause, pursuant to Section 3.2.2(b), the Executive
            shall have no further obligation to the Company.

            3.3.3 In the event of termination by the Executive in connection
            with a Change in Control pursuant to Section 3.2.3, the Company
            shall be required to meet its obligations to the Executive under
            Section 3.4 below.

            3.3.4 In the event of termination upon mutual agreement of the
            parties pursuant to Section 3.2.4, the Company shall have no further
            obligation to the Executive except for the payment of any amounts
            due and owing under Section 4.1 on the effective date of termination
            unless otherwise set forth in the written agreement.

      3.4 TERMINATION PAYMENTS. In the event Executive's employment is
terminated under this Agreement prior to the expiration of the Term pursuant to
Section 3.3.1(b), Section 3.3.2(a) or Section 3.3.3, the Company shall pay to
the Executive as severance pay and liquidated damages a lump sum amount equal to
the product of the (a) Average Monthly Compensation multiplied by (b) thirty-six
(36). In addition, from the effective date of the termination through the then
unexpired portion of the Term (or, if greater, for a period of twelve months
following the effective date of the termination) (the "Severance Period"), the
Company shall cause the Bank to continue to provide to the Executive, to the
extent practicable, the benefits described in Section 4.3; provided, however,
that in lieu of providing health benefits, the Company shall pay the Executive
an amount equal to the cost of COBRA health continuation coverage that would be
charged by the Bank to a former employee and eligible dependents for the greater
of the Severance Period or the period during which the Executive and his
eligible dependents are entitled to COBRA health continuation coverage from the
Bank. To the extent the Company determines

                                      -5-
<PAGE>

that the continuation of any other benefits by the Bank is not practicable,
the Company shall pay the Executive an amount equal to what would have been
the Bank's cost of providing the coverage for such benefits during the
Severance Period to the Executive and his eligible dependents if the coverage
could have been continued.

Notwithstanding any other provision of this Agreement to the contrary, if the
aggregate of the payments provided for in this Agreement and the other payments
and benefits which the Executive has the right to receive from the Employer (the
"Total Payments") would constitute a "parachute payment," as defined in Section
280G(b)(2) of the Internal Revenue Code, as amended (the "Code"), the Executive
shall receive the Total Payments unless the (a) after-tax amount that would be
retained by the Executive (after taking into account all federal, state and
local income taxes payable by the Executive and the amount of any excise taxes
payable by the Executive (the "Excise Taxes")) if the Executive were to receive
the Total Payments has a lesser aggregate value than (b) the after-tax amount
that would be retained by the Executive (after taking into account all federal,
state and local income taxes payable by the Executive) if the Executive were to
receive the Total Payments being subject to Excise Taxes (the "Reduced
Payments"), in which case the Executive shall be entitled only to the Reduced
Payments. If the Executive is to receive the Reduced Payments, the Executive
shall be entitled to determine which of the Total Payments, and the relative
portions of each, are to be reduced.

4. COMPENSATION. The Executive shall receive the following salary and benefits:

      4.1 BASE SALARY. During the Initial Term, the Executive shall be
compensated at a base rate of $200,000.00 per annum (the "Base Salary"). The
Executive's salary shall be reviewed by the Board of Directors of the Company
annually, and the Executive shall be entitled to receive annually an increase in
such amount, if any, as may be determined by such Board. Such salary shall be
payable in accordance with the Employer's normal payroll practices.

      4.2   INCENTIVE COMPENSATION.

                 (a) The Executive shall be entitled to an annual incentive
         bonus determined in accordance with the criteria set forth in EXHIBIT B
         attached hereto (the "Incentive Compensation").

                 (b) The Executive shall be entitled to participate in such
         option, bonus, incentive and other executive compensation programs as
         are made available to senior management of the Employer from time to
         time.

      4.3 BENEFITS.

                 (a) In addition to the Base Salary and Incentive Compensation,
            the Executive shall be entitled to such other benefits as may be
            available from time to time for executives of

                                      -6-
<PAGE>

             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, profit sharing plans, retirement or investment
             funds, dental, health, life and disability insurance benefits, and
             such other benefits as the Employer deems appropriate.

                 (b) The Company specifically agrees to reimburse the Executive
            for reasonable business expenses incurred by him in performance of
            his duties hereunder, as approved from time to time by the Board of
            Directors of the Company or of the Bank; provided 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 Internal Revenue Service regulations.

                 (c) On a non-cumulative basis the Executive shall be entitled
            to five (5) weeks of vacation in each year of this Agreement, during
            which his compensation shall be paid in full. At least two
            consecutive weeks each year must be taken by the Executive for
            vacation, with other vacation to be taken at the time the Executive
            determines appropriate, taking into account the requirements of the
            Employer.

                 (d) The Executive shall be reimbursed for membership in Country
            Club of the South, and shall receive a car allowance of $750 per
            month.

      4.1 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, FICA and other withholding requirements.

5.    PROPRIETARY INFORMATION.

      5.1 TREATMENT OF PROPRIETARY INFORMATION. As a senior management official
of the Employer, the Executive has access to Proprietary Information. The
Executive agrees to maintain the confidentiality of all Proprietary Information
throughout the Term and for a period of two (2) years after the termination of
this Agreement.

      5.2 OBLIGATIONS OF EXECUTIVE. During the period described in Section 5.1,
the Executive will hold the Proprietary Information in trust and strictest
confidence, and will not use, reproduce, distribute, disclose or otherwise
disseminate the Proprietary Information except to the extent necessary to
perform the duties assigned to him by the Employer.

      5.3 DELIVERY UPON TERMINATION. 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 Proprietary
Information then in his possession or control.

                                      -7-

<PAGE>

6. NON-COMPETITION. The Executive agrees that during his employment by the
Employer and, in the event of his termination, other than pursuant to Sections
3.3.1(b) or 3.3.2(a), for a period of twelve (12) months thereafter, he will not
(except on behalf of or with the prior written consent of the Company), within
the Atlanta Metropolitan (RMA) Area, either directly or indirectly, on his own
behalf or in the service or on behalf of others, as a principal, partner,
officer, director, manager, supervisor, administrator, consultant, executive
employee, or in any other capacity which involves duties and responsibilities
similar to those undertaken for the Employer, engage in any business which is
the same as or essentially the same as the Business of the Employer.

7. NON-SOLICITATION. The Executive agrees that during his employment by the
Employer and, in the event of his termination, other than pursuant to Sections
3.3.1(b) or 3.3.2(a), for a period of twelve (12) months thereafter, he will not
(except on behalf of or with the prior written consent of the Company), within
the Atlanta Metropolitan (RMA) Area, on his own behalf or in the service or on
behalf of others, solicit, divert or appropriate, or attempt to solicit, divert
or appropriate, directly or by assisting others, any business from any of the
Employer's customers or vendors, including actively-sought prospective customers
or vendors, with whom the Executive has or had material contact during the last
two (2) years of his employment, for purposes of providing products or services
that are competitive with those provided by the Employer.

8. NON-SOLICITATION OF EXECUTIVES. The Executive agrees that during his
employment by the Employer and, in the event of his termination, other than
pursuant to Sections 3.3.1(b) or 3.3.2(a), for a period of twelve (12) months
thereafter, he will not, on his own behalf or in the service or on behalf of
others, solicit, recruit or hire away, or attempt to solicit, recruit or hire
away, directly or by assisting others, any employee of the Employer or its
Affiliates, whether or not such employee is a full-time employee or a temporary
employee of the Employer, and whether or not such employment is pursuant to
written agreement and whether or not 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 of the 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 Company 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. The Company and the Executive agree that all
remedies available to the Company 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

                                      -8-

<PAGE>

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. NOTICE. All notices and other communications required or permitted under
this Agreement shall be in writing and, if mailed by prepaid first-class mail or
certified mail, return receipt requested, shall be deemed to have been received
on the earlier of the date shown on the receipt or three (3) business days after
the postmarked date thereof. In addition, notices hereunder may be delivered by
hand, facsimile transmission or overnight courier, in which event the notice
shall be deemed effective when delivered or transmitted. All notices and other
communications under this Agreement shall be given to the parties hereto at the
following addresses:

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

                 Net.B@nk, Inc.
                 950 North Point Parkway

                 Suite 350
                 Alpharetta, GA  30005
                 Attn:  Chairman of the Board

            (ii) If to the Executive, to him at:

                 D. R. Grimes
                 4385 Old Wesleyan Woods
                 Alpharetta, GA  30022

12. ASSIGNMENT. Neither party hereto may assign or delegate this Agreement or
any of its rights and obligations hereunder without the written consent of the
other party hereto.

13. WAIVER. A waiver by the Company of any breach of this Agreement by the
Executive 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.

14. ATTORNEYS' FEES. In the event of litigation between the parties concerning
this Agreement, the party prevailing in such litigation shall be entitled to
receive from the other party all reasonable costs and expenses, including
without limitation attorneys' fees, incurred by the prevailing party in
connection with such litigation, and the other party shall pay such costs and
expenses to the prevailing party promptly upon demand by the prevailing party.

                                      -9-

<PAGE>

15. APPLICABLE LAW. This Agreement shall be construed and enforced under and in
accordance with the laws of the state of Georgia.

16. ENTIRE AGREEMENT. This Agreement embodies the entire and final agreement of
the parties on the subject matter stated in the Agreement. No amendment or
modification of this Agreement shall be valid or binding upon the Company 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.

17. 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.

18. 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.

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

                                 THE COMPANY:

                                 NET.B@NK, INC.

                                 By:      /s/ T. Stephen Johnson
                                          -------------------------------------
                                 Name:    T. Stephen Johnson
                                          -------------------------------------
                                 Title:   Chairman of the Board
                                          -------------------------------------

                                 THE EXECUTIVE:

                                 /s/ D.R. Grimes
                                 ----------------------------------------------
                                 D. R. GRIMES

                                      -10-
<PAGE>

                                    EXHIBIT A

                         Initial Duties of the Executive

The initial duties of the Executive shall include, in addition to any other
duties assigned the Executive by the Boards of Directors of the Employer or its
designee, the following:

-     Foster a corporate culture that promotes ethical practices, encourages
      individual integrity, fulfills social responsibility, and is conducive to
      attracting, retaining and motivating a diverse group of top-quality
      executives at all levels.

-     With the Board of Directors of the Bank, develop a long-term strategy for
      the Bank that creates shareholder value.

-     Develop and recommend to the Board of Directors of the Bank annual
      business plans and budgets that support the Bank's long-term strategy.

-     Manage the day-to-day operations of the Company appropriately.

-     Use best efforts to achieve the Bank's financial and operating goals and
      objectives.

-     Improve the quality and value of the products and services provided by
      the Bank.

-     Insure that the Bank maintains a satisfactory competitive position within
      its industry.

-     Develop an effective management team and an active plan for its
      development and succession, and make recommendations to the Board of
      Directors of the Bank regarding hiring, firing and compensation.

-     Implement major corporate policies.

<PAGE>

                                    EXHIBIT B

                               CEO Bonus Proposal

      End 1998 at $0.25 EPS and $280 million in deposits.

      Goals are to increase earning per share by at least $0.25 and deposits by
$330 million.  This would represent 100% growth in EPS and 118% in deposits.

      Levels in Deloitte plan:

            20% Base Threshold
            40% Base Target

            80% Base Outstanding                        120% Target
            200% Base Superior (also cap for bonus)     140% Target<PAGE>
                                                                    EXHIBIT 10.2

                                 FIRST AMENDMENT
                               TO LEASE AGREEMENT

         This FIRST AMENDMENT TO LEASE AGREEMENT ("First Amendment") is made and
entered into as of May 25, 1999 ("Effective Date"), by and between OPUS SOUTH
CORPORATION, a Florida corporation, as Landlord, and NET.B@NK, INC., a Georgia
corporation, as Tenant.

                                    RECITALS:

         Landlord and Tenant did enter into that certain Lease Agreement, dated
March 17, 1999, for the leasing by Landlord to Tenant of certain space on the
first floor of the building commonly known as Royal Centre Three, 11475 Great
Oaks Way, Alpharetta, Georgia ("Building"), the space leased to Tenant being
more particularly described in the Lease as the "Premises." Landlord and Tenant
desire to enter into this First Amendment to provide for the addition of the
Expansion Space (as defined below), to the Premises pursuant to and in
accordance with the terms of this First Amendment.

         Now, therefore, for and in consideration of the sum of Ten and 00/100
Dollars, the mutual covenants and obligations set forth in the Lease and in this
First Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant do hereby
agree as follows:

         1. Beginning as of the Expansion Commencement Date (as defined below),
the portion of the first floor of the Building, consisting of 7,295 rentable
square feet, designated as Suite 120 and located as shown on EXHIBIT "A" to this
First Amendment ("Expansion Space"), shall be added to and become part of the
Premises, subject to and in accordance with all of the provisions of this First
Amendment and otherwise subject to and in accordance with all the provisions of
the Lease. The parties hereby acknowledge and agree that the rentable square
footage for the Expansion Space has been reviewed and confirmed by both parties
and is hereby conclusively agreed to be correct and is not subject to challenge
or dispute by either party.

         2. The term with respect to the Expansion Space ("Expansion Term"),
shall commence ("Expansion Commencement Date") on the earlier of (a) the date
Tenant first occupies all or any portion of the Expansion Space for the conduct
of its business, or (b) January 1, 2000. The Expansion Term shall expire on the
last day of the Initial Lease Term for the remainder of the Premises or, if
exercised, on the last day of the Renewal Term.

         3. As of the Expansion Commencement Date, the Premises shall consist of
a total of 26,910 rentable square feet which the parties conclusively agree is
correct and is not subject to challenge or dispute by either party. As of the
Expansion Commencement Date, Tenant's Prorata Share of Excess Operating Expenses
shall become 16.26%. If the Expansion Commencement Date occurs prior to January
1, 2000, Tenant's Prorata Share of Excess Operating Expenses for calendar year
1999 shall be appropriately prorated.

         4. Beginning as of the Expansion Commencement Date, Tenant shall pay
Base Rent for the Expansion Space at the same rate per rentable square foot, per
annum applicable to the remainder of the Premises, as such rate is increased
annually pursuant to the provisions of Paragraph 10 of the Basic Terms of the
Lease. Tenant shall also be obligated to pay Tenant's Prorata Share of Excess
Operating

                                       1

<PAGE>

Expenses with respect to the Expansion Space. Tenant shall pay such
Base Rent and Tenant's Prorata Share of Excess Operating Expenses on the same
terms and conditions (including a 1999 Base Year) and at the same time Tenant is
obligated to pay Base Rent and Tenant's Prorata Share of Excess Operating
Expenses with respect to the remainder of the Premises.

         5. Landlord shall provide Tenant an Improvement Allowance for the
Expansion Space equal to $24.00 per rentable square foot of the Expansion Space.
Landlord shall construct, or cause to be constructed, leasehold improvements in
the Expansion Space in accordance with all of the provisions of the Work Letter
attached as EXHIBIT "D" of the Lease, except that: (i) any reference to the
Premises shall be deemed to refer to the Expansion Space; (ii) any reference to
the Plans shall be deemed to refer to the Expansion Plans and (iii) any
reference to Tenant's Work shall be deemed to be a reference to the work to be
performed by Landlord in the Expansion Space in accordance with the Expansion
Plans ("Tenant's Expansion Space Work"). Landlord will cause the Expansion Plans
to be prepared, in the same manner described in Paragraph 1 of the Work Letter,
promptly following Tenant's delivery to Landlord of Tenant's specifications and
requirements for the Expansion Space, and will proceed with due diligence
thereafter to construct, or cause to be constructed, Tenant's Expansion Space
Work.

         6. Section 7.1.3 of the Lease is amended to provide that the cost to
Tenant for after-hours heating or air-conditioning services shall be $20.00 per
hour, per air-handling unit. Tenant acknowledges that the original Premises and
the Expansion Space are served by different air-handling units.

         7. Except as expressly provided in this First Amendment, no free rent,
improvement allowances, moving allowances, space planning allowances or other
concessions which apply to the original Premises shall apply to the Expansion
Space. Except as modified by the terms of this First Amendment, Landlord and
Tenant do hereby ratify and reaffirm each and every provision of the Lease and
do hereby acknowledge that the Lease remains in full force and effect.

                                       2
<PAGE>

         IN WITNESS WHEREOF, the parties have hereunto set their hands and seals
as of the day, month and year first above written.

         Dated:  5/25/99                        LANDLORD:
                --------------------
                                                OPUS SOUTH CORPORATION, a
                                                Florida corporation

                                                By:    /s/ Neil Rauenhorst
                                                       -------------------------
                                                Name:   Neil Rauenhorst
                                                       -------------------------
                                                Title:  President & CEO
                                                       -------------------------

         Dated:  5/20/99                        TENANT:
                --------------------
                                                Net.B@nk, Inc., a
                                                Georgia corporation

                                                By:    /s/ Robert E. Bowers
                                                       -------------------------
                                                Name:   Robert E. Bowers
                                                       -------------------------
                                                Title:  CFO
                                                       -------------------------

                                                By:    /s/ Lisa M. Tyler
                                                       -------------------------
                                                Name:   Lisa M. Tyler
                                                       -------------------------
                                                Title:  Dir. HR & Administration
                                                       -------------------------
                                        3
<PAGE>

                                   EXHIBIT "A"

                            [FLOOR PLAN APPEARS HERE]

                               ROYAL CENTRE THREE

                                  at Royal 400
                               Alpharetta, Georgia

                                a Development of
                             Opus South Corporation

                                       4
<PAGE>

                                SECOND AMENDMENT
                               TO LEASE AGREEMENT

        This SECOND AMENDMENT TO LEASE AGREEMENT ("Second Amendment") is made
and entered into as of September 15, 1999 ("Effective Date"), by and between
ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA, a Minnesota corporation, as
Landlord, and NET.B@NK, INC., a Georgia corporation, as Tenant.

                                    RECITALS:

        Opus South Corporation ("Opus") and Tenant did enter into that certain
Lease Agreement, dated March 17, 1999, for the leasing of certain space on the
first floor of the building commonly known as Royal Centre Three, 11475 Great
Oaks Way, Alpharetta, Georgia ("Building"), the space leased to Tenant being
more particularly described in the Lease as the "Premises."

        The Original Lease has been previously amended by First Amendment to
Lease, dated May 25, 1999 ("First Amendment"). The Original Lease, as amended by
the First Amendment, is hereinafter referred to as the "Lease."

         Landlord has acquired the Building from Opus and is the current holder
of all of the Landlord's interest under the Lease.

        Landlord and Tenant desire to enter into this Second Amendment to
REDEFINE the addition of the Expansion Space (as originally defined in First
Amendment and subsequently redefined below), to the Premises pursuant to and in
accordance with the terms of this Second Amendment.

        Now, therefore, for and in consideration of the sum of Ten and 00/100
Dollars, the mutual covenants and obligations set forth in the Lease and in this
Second Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant do hereby
agree as follows:

        1. Beginning as of the Expansion Commencement Date (as defined below),
the portion of the first floor of the Building, consisting of 10,253 rentable
square feet, designated as Suite 130 and located as shown on Exhibit "A" to this
Second Amendment ("Expansion Space"), shall be added to and become part of the
Premises, subject to and in accordance with all of the provisions of this First
Amendment and otherwise subject to and in accordance with all the provisions of
the Lease. The parties hereby acknowledge and agree that the rentable square
footage for the Expansion Space has been reviewed and confirmed by both parties
and is hereby conclusively agreed to be correct and is not subject to challenge
or dispute by either party.

         2. The term with respect to the Expansion Space ("Expansion Term"),
shall commence ("Expansion Commencement Date") on the earlier of (a) the date
Tenant first occupies all or any portion of the Expansion Space for the conduct
of its business, or (b) January 1, 2000. The Expansion Term shall expire on the
last day of the Initial Lease Term for the remainder of the Premises or, if
exercised, on the last day of the Renewal Term.

                                       5
<PAGE>

         3. As of the Expansion Commencement Date, the Premises shall consist of
a total 29,868 rentable square feet which the parties conclusively agree is
correct and is not subject to challenge or dispute by either party. As of the
Expansion Commencement Date, Tenant's Prorata Share of Excess Operating Expenses
shall become 18.044%. If the Expansion Commencement Date occurs prior to January
1, 2000, Tenant's Prorata Share of Excess Operating Expenses for calendar year
1999 shall be appropriately prorated.

         4. Beginning as of the Expansion Commencement Date, Tenant shall pay
Base Rent for the Expansion Space at the same rate per rentable square foot, per
annum applicable to the remainder of the Premises, as such rate is increased
annually pursuant to the provisions of Paragraph 10 of the Basic Terms of the
Lease. Tenant shall also be obligated to pay Tenant's Prorata Share of Excess
Operating Expenses with respect to the Expansion Space. Tenant shall pay such
Base Rent and Tenant's Prorata Share of Excess Operating Expenses on the same
terms and conditions (including a 1999 Base Year) and at the same time Tenant is
obligated to pay Base Rent and Tenant's Prorata Share of Excess Operating
Expenses with respect to the remainder of the Premises.

         5. Landlord shall provide Tenant an Improvement Allowance for the
Expansion Space equal to $24.00 per rentable square foot of the Expansion Space.
Landlord shall construct, or cause to be constructed, leasehold improvements in
the Expansion Space in accordance with all of the provisions of the Work Letter
attached as EXHIBIT "D" of the Lease, except that: (i) any reference to the
Premises shall be deemed to refer to the Expansion Space; (ii) any reference to
the Plans shall be deemed to refer to the Expansion Plans and (iii) any
reference to Tenant's Work shall be deemed to be a reference to the work to be
performed by Landlord in the Expansion Space in accordance with the Expansion
Plans ("Tenant's Expansion Space Work"). Landlord will cause the Expansion Plans
to be prepared, in the same manner described in Paragraph 1 of the Work Letter,
promptly following Tenant's delivery to Landlord of Tenant's specifications and
requirements for the Expansion Space, and will proceed with due diligence
thereafter to construct, or cause to be constructed, Tenant's Expansion Space
Work.

         6. Tenant's Right of First Refusal as described in Exhibit "E",
Paragraph 2 of the Lease is hereby modified to change the demised premises of
the Refusal Space to 7,295 rentable square feet, Suite 120 as shown on Exhibit
"A".

         7. This Second Amendment modifies and overrides the expansion rights
provided for in the First Amendment. Tenant's right to the Expansion Space shall
be described in the First Amendment, or modified by this Second Amendment.

         8. Except as expressly provided in this Second Amendment, no free rent,
improvement allowances, moving allowances, space planning allowances or other
concessions which apply to the original Premises shall apply to the Expansion
Space. Except as modified by the terms of this Second Amendment, Landlord and
Tenant do hereby ratify and reaffirm each and every provision of the Lease and
do hereby acknowledge that the Lease remains in full force and effect.

                                       6

<PAGE>

         IN WITNESS WHEREOF, the parties have hereunto set their hands and seals
as of the day, month and year first above written.

         Dated: 9/17/00                     LANDLORD:

                                     ALLIANZ LIFE INSURANCE COMPANY OF NORTH
                                     AMERICA, a Minnesota corporation

                                     By:    ALLIANZ OF AMERICA, INC.
                                            its Investment Advisor

                                     By:     /s/ Brian S. Brennan
                                            ------------------------------------
                                     Name:   Brian S. Brennan
                                            ------------------------------------
                                     Title:  Director, Real Estate Acquisitions
                                            ------------------------------------

           Dated: 9-15-00                   TENANT:

                                     NET.B@NK, INC., a
                                     Georgia corporation

                                     By:    /s/ Robert E. Bowers
                                            ------------------------------------
                                     Name:  Robert E. Bowers
                                            ------------------------------------
                                     Title: CFO
                                            ------------------------------------

                                     By:    /s/ D.R. Grimes
                                            ------------------------------------
                                     Name:  D.R. Grimes
                                            ------------------------------------
                                     Title: CEO
                                            ------------------------------------

                                       7
<PAGE>

                                   EXHIBIT "A"

                            [Floor plan appears here]

                             - ROYAL CENTRE THREE -

                                  AT ROYAL 400
                               ALPHARETTA, GEORGIA

                                GROUND FLOOR PLAN

<PAGE>

                                 THIRD AMENDMENT
                               TO LEASE AGREEMENT

         This THIRD AMENDMENT TO LEASE AGREEMENT ("Third Amendment") is made and
entered into as of October 26, 1999 ("Effective Date"), by and between ALLIANZ
LIFE INSURANCE COMPANY OF NORTH AMERICA, a Minnesota corporation ("Landlord"),
and NET.B@NK, INC., Georgia corporation ("Tenant").

                                    RECITALS:

         Landlord and Tenant did enter into that certain Lease Agreement, dated
March 17, 1999 ("Original Lease"), for the leasing by Landlord to Tenant of
certain space on the first floor of the building commonly known as Royal Centre
Three, 11475 Great Oaks Way, Alpharetta, Georgia ("Building"), the space leased
to Tenant being more particularly described in the Lease as the "Premises."

         The Original Lease has been previously amended by First Amendment to
Lease, dated May 25, 1999 ("First Amendment") and by Second Amendment to Lease,
dated September 15, 1999 ("Second Amendment"). The Original Lease, as amended by
the First Amendment and Second Amendment, is hereinafter referred to as the
"Lease."

         Landlord and Tenant desire to enter into this Third Amendment to
provide for the addition of the Second Expansion Space to the Premises pursuant
to and in accordance with the terms of this Third Amendment.

         Now, therefore, for and in consideration of the sum of Ten and 00/100
Dollars, the mutual covenants and obligations set forth in the Lease and in this
Third Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant do hereby
agree as follows:

         1. Effective as of January 1, 2000 ("Second Expansion Commencement
Date"), the Premises shall be increased for all purposes under the Lease by
adding thereto 7,295 rentable square feet on the first floor of the Building as
shown on the attached EXHIBIT A ("Second Expansion Space"),

         2. The term for the Second Expansion Space ("Second Expansion Term")
shall terminate on June 30, 2006, coterminously with the Term for the original
Premises.

         3. Base Rent for the Second Expansion Space shall be calculated in
accordance with the following schedule:

<PAGE>

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------
                                                BASE RENT PER
                   PERIOD                     RENTABLE SQUARE FOOT                 MONTHLY BASE RENT
------------------------------------------------------------------------------------------------------------
<S>                                           <C>                                  <C>
              1/1/00 - 7/31/00 *                      $20.50*                        $12,462.29*
------------------------------------------------------------------------------------------------------------
              8/1/00 - 7/31/01                        $21.01                         $12,773.85
------------------------------------------------------------------------------------------------------------
              8/1/01 - 7/31/02                        $21.54                         $13,093.20
------------------------------------------------------------------------------------------------------------
              8/1/02 - 7/31/03                        $22.08                         $13,420.53
------------------------------------------------------------------------------------------------------------
              8/1/03 - 7/31/04                        $22.63                         $13,756.04
------------------------------------------------------------------------------------------------------------
</TABLE>

         *Notwithstanding anything to the contrary set forth herein, Base Rent
shall be abated for a 3,645 rentable square foot portion of the Second Expansion
Space for the period from January 1, 2000 through March 31, 2000. Accordingly,
during that period, the Monthly Base Rent due by Tenant with respect to the
Second Expansion shall be $6,235.42.

         4. As of August 1, 2004, Base Rent per rentable square feet per annum
of the Second Expansion Space shall be that of the existing base rental rate
then in effect on the primary Premises.

         5. Additional Rent, Rent and all other charges under the Lease which
are or will be applicable to the Premises shall also be applicable to the Second
Expansion Space.

         6. As of the Second Expansion Commencement Date, the Premises shall
consist of a total of 37,163 rentable square feet which the parties conclusively
agree is correct and is not subject to challenge or dispute by either party. As
of the Second Expansion Commencement Date, Tenant's Prorata Share of Excess
Operating Expenses shall become 22.4513%.

         7. Beginning as of the Second Expansion Commencement Date, Tenant shall
pay Base Rent for the Second Expansion Space (except the abated portion, as
provided above) at the rate per rentable square foot, per annum applicable from
time to time as set forth in Section 3 of this Third Amendment. Tenant shall
also be obligated to pay Tenant's Prorata Share of Excess Operating Expenses
with respect to the Second Expansion Space. Tenant shall pay such Base Rent and
Tenant's Prorata Share of Excess Operating Expenses on the same and terms and
conditions (including a 1999 Base Year) and at the same time Tenant is obligated
to pay Base Rent and Tenant's Prorata Share of Excess Operating Expenses with
respect to the remainder of the Premises.

         8. Landlord shall provide Tenant an Improvement Allowance for the
Second Expansion Space equal to $17.00 per rentable square foot of the Second
Expansion Space and Landlord construct leasehold improvements in the Second
Expansion Space in accordance with all of the provisions of the Work Letter
attached as EXHIBIT "D" of the Lease, except that: (i) any reference to the
Premises shall be deemed to refer to the Second Expansion Space; (ii) any
reference to the Plans shall be deemed to refer to the Second Expansion Plans
and (iii) any reference to Tenant's Work shall be deemed to be a reference to
the work to be performed by Landlord in the Second Expansion Space in accordance
with the Second Expansion Plans ('Tenant's Second Expansion Space Work").
Landlord will cause the Second Expansion Plans

                                       2

<PAGE>

to be prepared, in the same manner described in Paragraph 1 of the Work
Letter, promptly following Tenant's delivery to Landlord of Tenant's
specifications and requirements for the Second Expansion Space, and will
proceed with due diligence thereafter to construct Tenant's Second Expansion
Space Work.

         9. Except as expressly provided in this Third Amendment, no free rent,
improvement allowances, moving allowances, space planning allowances or other
concessions which apply to the original Premises shall apply to the Second
Expansion Space. Except as modified by the terms of this Third Amendment,
Landlord and Tenant do hereby ratify and reaffirm each and every provisions of
the Lease and do hereby acknowledge that the Lease remains in full force and
effect.

        IN WITNESS WHEREOF, the parties have hereunto set their hands and seals
as of the day, month and year first above written.

        Dated:  10/26/99

                                    LANDLORD:

                                    ALLIANZ LIFE INSURANCE
                                    COMPANY OF NORTH AMERICA, a
                                    Minnesota corporation

                                    By:      ALLIANZ OF AMERICA, INC.
                                             its Investment Advisor

                                    By:      /s/ Brian S. Brennan
                                            ------------------------------------
                                    Name:    Brian S. Brennan
                                            ------------------------------------
                                    Title:   Director, Real Estate Acquisitions
                                            ------------------------------------

         Dated:                     TENANT:
               ------------------

                                    NET.B@NK, INC., a Georgia corporation

                                    By:      /s/ Robert E. Bowers
                                            ------------------------------------
                                    Name:    Robert E. Bowers
                                            ------------------------------------
                                    Title:   CFO
                                            ------------------------------------

                                       3

<PAGE>

                                   EXHIBIT "A"

                               ROYAL CENTRE THREE

                                  at Royal 400
                               Alpharetta, Georgia

                                Ground Floor Plan

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}]]