COLONY BANKCORP, INC.
1999 RESTRICTED STOCK GRANT PLAN
The terms used in the 1999 Restricted Stock Grant Plan (the "Plan") shall, unless otherwise indicated or required
by the particular context, have the following meaning:
1.1 Board. The "Board" is the Board of Directors of the Company.
1.2 Common Stock. "Common Stock" is the Company's $10.00 par value of common stock and shall be the
Company's $1.00 par value stock after the Articles of Incorporation are amended.
1.3 Company. The "Company" is Colony Bankcorp, Inc., a Georgia corporation, and, except as otherwise
provided in Paragraphs 1.11 and 6.7 with respect to a Subsidiary that ceases to be such under the circumstances
therein described, any successor in interest by way of consolidation, operation of law, merger or otherwise.
1.4 Executive Employee. An "Executive Employee" is a full-time permanent employee of the Company or one of
its Subsidiaries, who is employed in an executive capacity.
1.5 Fair Market Value. "Fair Market Value" is the closing market price of the Common stock on the NASDAQ
national market for the trading day immediately preceding the date Board awards a Restricted Stock Award to a
1.6 Plan Period. The "Plan Period" is the period commencing February 16, 1999, and ending February 15,
1.7 Recipient. A "Recipient" is an Executive Employee designated by the Board to receive a Restricted Stock
Award under and pursuant to the terms of this Plan.
1.8 Restricted Stock Award. A "Restricted Stock Award" is an award of shares of Common Stock upon and
subject to the terms, restrictions, and conditions of this Plan.
1.9 Subsidiary. A "Subsidiary" is any corporation at least a majority of whose securities having ordinary voting
power for the election of directors, is at the time owned by the Company and/or one or more Subsidiaries.
1.10 Termination. "Termination" is the ceasing to be an employee of the Company or one of its Subsidiaries,