Mr. Michael R. Maguire

0001250002 MAGUIRE MICHAEL ROBERT 519 SOUTH NEW HOPE ROAD GASTONIA NC 28054-4040 0 1 0 0 Senior VP and CCO

Michael R. Maguire
...
Michael R. Maguire has served as Senior Vice President and Chief Credit Officer of Citizens South Bank since May 1999.Prior to that Mr. Maguire served as a Vice President and in various executive capacities in the commercial banking functions of First Union National Bank of North Carolina from 1984 to May 1999.

1.06% Secretary and Chief Administrative Officer Michael R. Maguire

...
Michael R. Maguire has served as Senior Vice President and Chief Credit Officer of Citizens South Bank since May 1999.Prior to that Mr. Maguire served as a Vice President and in various executive capacities in the commercial banking functions of First Union National Bank of North Carolina from 1984 to May 1999.
...
Michael R. Maguire
...
Price, Teem, Maguire and Hoskins.
...
Each of Mr. Maguire and Mr. Hoskins will vest in his benefits under the plan at the rate of 10% per year times the number of years from the effective date of the agreement, to a maximum of 75%, prior to attaining age 60.
...
In the event Mr. Price, Teem, Maguire, or Hoskins becomes disabled prior to termination of employment and the executive's employment is terminated because of such disability, the executive will be entitled to receive the balance in his pre-retirement account payable in 156 monthly installments commencing 30 days following termination of service due to disability.
...
Price, Teem, Maguire and Hoskins had $62,964, $47,843, $14,557 and $9,024, respectively, accrued to their pre-retirement accounts.
...
Each of Mr. Maguire and Mr. Hoskins will vest in his death benefits under his agreement at the rate of 10% per year times the number of years from the effective date of the executive agreement, to a maximum of 75%, prior to attaining age 60.
...
Citizens South Bank has entered into a merger/acquisition protection agreement with each of Michael R. Maguire, its Senior Vice President and Chief Credit Officer, Paul L. Teem, Jr., its Executive Vice President, Gary F. Hoskins, its Executive Vice President and Chief Financial Officer, and Daniel M. Boyd, IV, its Executive Vice President, pursuant to which each executive will be paid as severance a sum equal to one and one-half times his annual compensation, including base salary at the highest rate of pay and aggregate bonuses paid during the 12-month period prior to termination of employment in the event of a change in control of Citizens South Bank or Citizens South Banking Corporation.
...
Michael R. Maguire

Michael R. Maguire Senior Vice President and Chief Credit Officer
...
Michael R. Maguire has served as Senior Vice President and Chief Credit Officer of Citizens South Bank since May 1999.Prior to that Mr. Maguire served as a Vice President and in various executive capacities in the commercial banking functions of First Union National Bank of North Carolina from 1984 to May 1999.

Michael R. Maguire Senior Vice President and Chief Credit Officer
...
Michael R. Maguire has served as Senior Vice President and Chief Credit Officer of Citizens South Bank since May 1999.Prior to that Mr. Maguire served as a Vice President and in various executive capacities in the commercial banking functions of First Union National Bank of North Carolina from 1984 to May 1999.
...
Price, Teem, Maguire and Hoskins.
...
Each of Mr. Maguire and Mr. Hoskins will vest in his benefits under the plan at the rate of 10% per year times the number of years from the effective date of the agreement, to a maximum of 75%, prior to attaining age 60.
...
In the event Mr. Price, Teem, Maguire, or Hoskins becomes disabled prior to termination of employment and the executive's employment is terminated because of such disability, the executive will be entitled to receive the balance in his pre-retirement account payable in 156 monthly installments commencing 30 days following termination of service due to disability.
...
Price, Teem, Maguire and Hoskins had $62,964, $47,843, $14,557 and $9,024, respectively, accrued to their pre-retirement accounts.
...
Each of Mr. Maguire and Mr. Hoskins will vest in his death benefits under his agreement at the rate of 10% per year times the number of years from the effective date of the executive agreement, to a maximum of 75%, prior to attaining age 60.
...
Citizens South Bank has entered into a merger/acquisition protection agreement with each of Michael R. Maguire, its Senior Vice President and Chief Credit Officer, Paul L. Teem, Jr., its Executive Vice President, Gary F. Hoskins, its Executive Vice President and Chief Financial Officer, and Daniel M. Boyd, IV, its Executive Vice President, pursuant to which each executive will be paid as severance a sum equal to one and one-half times his annual compensation, including base salary at the highest rate of pay and aggregate bonuses paid during the 12-month period prior to termination of employment in the event of a change in control of Citizens South Bank or Citizens South Banking Corporation.
...
Michael R. Maguire
...
Michael R. Maguire

Michael R. Maguire 2002 $ 92,520 $ 17,094 -- -- -- -- $ 17,574 (6) Senior Vice President and 2001 $ 88,032 $ 15,500 -- -- -- -- $ 12,842 (6) Chief Credit Officer 2000 $ 85,296 $ 10,000 -- -- -- -- $ 9,427
...
Price, Teem, Maguire and Hoskins.
...
Each of Mr. Maguire and Mr. Hoskins will vest in his benefits under the plan at the rate of 10% per year times the number of years from the effective date of the agreement, to a maximum of 75%, prior to attaining age 60.
...
In the event Mr. Price, Teem, Maguire, or Hoskins becomes disabled prior to termination of employment and the executive's employment is terminated because of such disability, the executive will be entitled to receive the balance in his pre-retirement account payable in 156 monthly installments commencing 30 days following termination of service due to disability.
...
Price, Teem, Maguire and Hoskins had $74,565, $57,271, $17,290 and $10,838, respectively, accrued to their pre-retirement accounts.
...
Each of Mr. Maguire and Mr. Hoskins will vest in his death benefits under his agreement at the rate of 10% per year times the number of years from the effective date of the executive agreement, to a maximum of 75%, prior to attaining age 60.
...
Citizens South Bank has entered into a merger/acquisition protection agreement with each of Michael R. Maguire, its Senior Vice President and Chief Credit Officer, Paul L. Teem, Jr., its Executive Vice President, Gary F. Hoskins, its Executive Vice President and Chief Financial Officer, and Daniel M. Boyd, IV, its Executive Vice President, pursuant to which each executive will be paid as severance a sum equal to one and one-half times his annual compensation, including base salary at the highest rate of pay and aggregate bonuses paid during the 12-month period prior to termination of employment in the event of a change in control of Citizens South Bank or Citizens South Banking Corporation.

Michael R. MaguireSenior Vice President andChief Credit Officer

Michael R. Maguire
...
Michael R. Maguire has served as Senior Vice President and Chief Credit Officer of Citizens South Bank since May 1999.Prior to that Mr. Maguire served as a Vice President and in various executive capacities in the commercial banking functions of First Union National Bank of North Carolina from 1984 to May 1999.

Michael R. Maguire

Senior Vice President andChief Credit Officer

(704) 868-5200

Michael.Maguire@citizenssouth.com