EMPLOYMENT AGREEMENTEmployment Agreement • May 14th, 2009 • Atlantic Coast Federal Corp • Savings institution, federally chartered • Georgia
This Employment Agreement (the “Agreement”) is made effective as of May 8, 2009 (the “Effective Date”), by and between Atlantic Coast Bank (the “Bank”) and Carl W. Insel (the “Executive”). References herein to the “Company” mean Atlantic Coast Federal Corporation, which owns 100% of the common stock of the Bank. The Company is a signatory to this Agreement for the sole purpose of guaranteeing the Bank’s performance hereunder. Any reference to the “Employer” shall mean both the Company and the Bank.
