THIS COMMISSION AGREEMENT (the “Agreement”) is entered into as of the 12th day of September, 2002, by and
between ABC BANCORP , a Georgia corporation (the “Company”), and JERRY L. KEEN , an individual resident of the State of
W I T N E S S E T H :
WHEREAS , upon the terms and conditions set forth herein, the Company wishes to compensate Keen for the provision
of certain brokerage, investment services and certain life insurance products to certain of the customers of the Company and its
subsidiaries introduced thereto by Keen;
WHEREAS , Keen desires to be so compensated; and
WHEREAS , the Company desires reasonable protection of its confidential business and customer information which it
has developed over the years at substantial expense and also desires assurance that Keen will not compete with the Company
for a reasonable period of time after the termination or expiration of this Agreement, except as otherwise provided herein.
NOW, THEREFORE , in consideration of these premises, the mutual covenants and undertakings herein contained, the
Company and Keen, each intending to be legally bound, covenant and agree as follows:
1. Term . The term of this Agreement shall begin on the date (the “Effective Date”) that Keen satisfies all
sponsorship requirements of Raymond James Financial Services (“Raymond James”), including, without limitation, a physical
examination, drug screen test and credit check, and, unless otherwise earlier terminated pursuant to Section 3 hereof, shall end
on the date which is three (3) years following the Effective Date (hereinafter referred to as the “Term”).
2. Fees and Commissions .
(A) On the Effective Date, the Company shall make a one-time payment in the amount of One Hundred Thousand
and No/100 Dollars ($100,000.00) to Keen by delivery of cash or a Company check made payable to Keen