Form of Consulting Agreement between
Southern National Corporation and
STATE OF NORTH CAROLINAS CONSULTING AGREEMENT
COUNTY OF FORSYTH
This Agreement is dated and effective January 1, 1994 between Southern National Corporation (the
"Corporation") and _____________________, ("Consultant").
The purpose of this Agreement is to retain the services
of Consultant who has served as a Director of Southern
National Corporation ("Corporation") and who is neither an officer or an employee of the Corporation, or any of
its affiliates (herein "Bank") as of the date of this Agreement and who has provided expertise in enabling the
Corporation to experience successful growth and development, so as to
ensure that the Corporation will have the benefit of his or her continued service as a Director and to assist the
Bank in the conduct of its affairs as a consultant following his or her termination of service as a Director.
Consultant is willing to enter into this Agreement upon the terms and
conditions hereinafter set forth.
Accordingly, Consultant and Corporation hereby agree as follows:
1. Definitions. (a) "Corporation" means Southern National Corporation.
(b) "Outside Director" means a person who is not an officer or employee of the Corporation or Bank and who is
elected or appointed as a Director of the Corporation.
(c) "Board" means Board of Directors of Corporation.
(d) "Consulting Services" means advice and
consultation provided to the Bank as requested from time to time by the Board of Directors or any officer
designated by the Board, not to exceed seven (7) days a year; provided, however, Consultant shall at all times
positively promote the business interests of the Corporation and its affiliates
in all of Consultant's other business dealings during his service as a Consultant hereunder.
(e) "Initial Date" means the date of a Consultant's initial appointment or election as an Outside Director of the
Corporation which is