This Employment Agreement (the "Agreement") is made as of the 8th day of December, 1999, by and between
BankAtlantic Bancorp, Inc. and BankAtlantic, a Federal Savings Bank (collectively the "Bank"), and James A.
White (the "Executive").
WHEREAS, the Bank desires to retain the services of and employ the Executive, and the Executive desires to
provide services to the Bank, pursuant to the terms and conditions of this Agreement.
NOW, THEREFORE, in consideration of the promises and of the covenants and agreements herein contained,
the Bank and the Executive covenant and agree as follows:
1. Employment. Pursuant to the terms and conditions of this Agreement, the Bank agrees to employ the Executive
and the Executive agrees to render services to the Bank as set forth herein.
2. Position and Duties. During the term of this Agreement, the Executive shall serve as Executive Vice President
and Chief Financial Officer of the Bank, and shall undertake such duties as may be assigned to Executive from
time to time by the Chairman and Chief Executive Officer of the Bank, and shall report to the Chief Executive
3. Term. The initial term of this Agreement shall be for a period of four years, commencing December 31, 1999
and expiring (unless sooner terminated as otherwise provided in this Agreement or unless otherwise extended as
provided in this Agreement) on December 31, 2003, which date, including any earlier or later date of termination
shall be referred to as the "Expiration Date." The term of this Agreement and the employment of the Executive by
the Bank hereunder may be renewed upon such terms and conditions as may be mutually agreed upon by the
4. Compensation. During the term of this Agreement, the Bank shall pay or provide to the Executive as
compensation for the services of the Executive set forth in Section 2 hereof:
(a) A base annual salary of $250,000 payable in such periodic installments as salary is paid to other employee