TIB BANK OF THE KEYS
SPLIT DOLLAR AGREEMENT
THIS AMENDMENT is made and entered into this 16th day of December, 2003, by and between TIB BANK
OF THE KEYS, a state-chartered commercial bank located in Key Largo, Florida (the "Company"), and
___________ (the "Director").
The Company and the Director executed the Split-Dollar Agreement on _____________ (the "Agreement").
The Company and the Director, in accordance with Article 7 of the Agreement, agree to eliminate all post-
retirement split-dollar benefits by amending the Agreement as follows:
AMENDMENTS TO ARTICLE 1
Section 1.5 of the Agreement on "Normal Retirement Age" shall be deleted in its entirety and replaced with
AMENDMENTS TO ARTICLE 2
Section 2.2 of the Agreement shall be deleted in its entirety and replaced by section 2.2 below:
2.2 Director's Interest. The Director shall have the right to designate the beneficiary of any remaining death
proceeds of the Policy. The Director shall also have the right to elect and change settlement options that may be
permitted. Provided, however, the Director, the Director's transferee or the Director's beneficiary shall have no
rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2
upon the Director's Termination of Service prior to a Change of Control.
Section 2.4 of the Agreement on "Comparable Coverage" shall be deleted in its entirety and replaced by section
2.4 So long as this Agreement remains in force, the Company shall maintain the Policy in full force and effect and
in no event shall the Company amend, terminate or otherwise abrogate the Director's interest in the Policy, unless
the Company replaces the Policy with a comparable insurance policy to cover the benefit provided under this
Agreement. The Policy or any comparable policy shall be subject to the claims of the Company's creditors.
AMENDMENTS TO ARTICLE 3
Section 3.3 of the Agreement shall be deleted