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<SEC-DOCUMENT>0000950123-10-031216.txt : 20100401
<SEC-HEADER>0000950123-10-031216.hdr.sgml : 20100401
<ACCEPTANCE-DATETIME>20100401092412
ACCESSION NUMBER:		0000950123-10-031216
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20100504
FILED AS OF DATE:		20100401
DATE AS OF CHANGE:		20100401
EFFECTIVENESS DATE:		20100401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLANTIC AMERICAN CORP
		CENTRAL INDEX KEY:			0000008177
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				581027114
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03722
		FILM NUMBER:		10721817

	BUSINESS ADDRESS:	
		STREET 1:		4370 PEACHTREE RD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		4042665500

	MAIL ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>g22654def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<div style="margin-top: 6pt" align="center">
<B><FONT size="2">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</FONT></B>
</DIV>

<div style="margin-top: 6pt" align="center">
<B><FONT size="2">SCHEDULE 14A</FONT></B></DIV>

<div style="margin-top: 6pt" align="center">
<FONT size="2">Proxy Statement Pursuant to Section 14(a) of
the Securities</FONT></DIV>

<DIV align="center">
<FONT size="2">Exchange Act of 1934 (Amendment No.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</FONT>
</DIV>

<div style="margin-top: 6pt" align="left">
<FONT size="2">Filed by the Registrant&nbsp;
<FONT face="wingdings">&#120;</FONT>
</FONT></DIV>

<div style="margin-top: 6pt" align="left">
<FONT size="2">Filed by a Party other than the Registrant&nbsp;
<FONT face="wingdings">&#111;</FONT>
</FONT></DIV>

<div style="margin-top: 6pt" align="left"><FONT size="2">
Check the appropriate box:
</font></DIV>





<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR style="font-size: 6pt">
        <TD width="49%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="48%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top">

<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;Preliminary
Proxy Statement</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2"><FONT face="wingdings">&nbsp;</FONT>&nbsp;
        </FONT></DIV>
        </TD>
</TR>


<TR>
        <TD colspan="3" align="left" valign="top">

<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;<B>Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top">
        <DIV style="margin-left:10px; text-indent:-10px">
        <FONT size="2"><FONT face="wingdings">&nbsp;</FONT>&nbsp;
        </FONT></DIV>
        </TD>
</TR>

<TR>
        <TD colspan="3" align="left" valign="top">
        <FONT size="2"><FONT face="wingdings">&#120;</FONT>&nbsp;&nbsp;Definitive
        Proxy Statement
        </FONT></TD>
</TR>

<TR>
        <TD colspan="3" align="left" valign="top">
        <FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;Definitive
        Additional Materials
        </FONT></TD>
</TR>

<TR>
        <TD colspan="3" align="left" valign="top">
        <FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;&nbsp;Soliciting
        Material Pursuant to &#167;240.14a-12
        </FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><font size="2">ATLANTIC AMERICAN CORPORATION</FONT>


<DIV align="center">
<HR size="1" width="100%" align="left" noshade>
</DIV>

<DIV align="center">
<FONT size="2">(Name of Registrant as Specified In Its Charter)
</FONT>
</DIV>

<P align="center">


<DIV align="left">
<HR size="1" width="100%" align="left" noshade>
</DIV>

<DIV align="center">
<FONT size="2">(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)
</FONT>
</DIV>

<P align="left">
<FONT size="2">Payment of Filing Fee (Check the appropriate box):
</FONT>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR style="font-size: 6pt">
        <TD width="4%">&nbsp;</TD>
        <TD width="96%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2"><FONT face="wingdings">&#120;</FONT></FONT></TD>
        <TD align="left">
        <FONT size="2">No fee required.
        </FONT></TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>

<TR valign="top">
        <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
        <TD align="left">
        <FONT size="2">Fee computed on table below per Exchange Act
        Rules&nbsp;14a-6(i)(4) and 0-11.
        </FONT></TD>
</TR>
</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)</FONT></TD>
        <TD align="left">
        <FONT size="2">Title of each class of securities to which
        transaction applies:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)</FONT></TD>
        <TD align="left">
        <FONT size="2">Aggregate number of securities to which
        transaction applies:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)</FONT></TD>
        <TD align="left">
        <FONT size="2">Per unit price or other underlying value of
        transaction computed pursuant to Exchange Act Rule&nbsp;0-11
        (set forth the amount on which the filing fee is calculated and
        state how it was determined):
        </FONT></TD>
</TR>

</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>
<P>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)</FONT></TD>
        <TD align="left">
        <FONT size="2">Proposed maximum aggregate value of transaction:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR style="font-size: 6pt">

        <TD width="9%">&nbsp;</TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)</FONT></TD>
        <TD align="left">
        <FONT size="2">Total fee paid:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR style="font-size: 6pt">

        <TD width="4%">&nbsp;</TD>
        <TD width="96%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
        <TD align="left">
        <FONT size="2">Fee paid previously with preliminary materials.
        </FONT></TD>
</TR>
<tr>
<TD style="font-size:6pt">&nbsp;</TD>
</TR>


<TR valign="top">
        <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT></FONT></TD>
        <TD align="left">
        <FONT size="2">Check box if any part of the fee is offset as
        provided by Exchange Act Rule&nbsp; 0-11(a)(2) and identify the
        filing for which the offsetting fee was paid previously.
        Identify the previous filing by registration statement number,
        or the Form or Schedule and the date of its filing.
        </FONT></TD>
</TR>
</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)</FONT></TD>
        <TD align="left">
        <FONT size="2">Amount Previously Paid:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)</FONT></TD>
        <TD align="left">
        <FONT size="2">Form, Schedule or Registration Statement No.:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)</FONT></TD>
        <TD align="left">
        <FONT size="2">Filing Party:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
        <TD width="9%"></TD>
        <TD width="91%"></TD>
</TR>

<TR valign="top">
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)</FONT></TD>
        <TD align="left">
        <FONT size="2">Date Filed:
        </FONT></TD>
</TR>
</TABLE>

<P align="right">
<HR size="1" width="91%" align="right" noshade>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="g22654g2265400.gif" alt="(LOGO)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ATLANTIC AMERICAN CORPORATION<BR>
4370 Peachtree Road, N.E.<BR>
Atlanta, Georgia 30319-3000</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD MAY 4, 2010</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notice is hereby given that the Annual Meeting of Shareholders of Atlantic American
Corporation (the &#147;Company&#148;) will be held at the principal executive offices of the Company at 4370
Peachtree Road, N.E., Atlanta, Georgia at 9:00 A.M., Eastern Time, on May&nbsp;4, 2010, for the
following purposes:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To elect ten (10)&nbsp;directors of the Company to serve until the next annual meeting of
shareholders and until their successors are duly elected and qualified;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To ratify the appointment of BDO Seidman, LLP as the Company&#146;s independent registered
public accounting firm for the 2010 fiscal year; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To transact such other business as may properly come before the meeting or any
adjournments or postponements thereof.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Only shareholders of record at the close of business on March&nbsp;15, 2010, will be entitled to notice
of, and to vote at, the meeting, or any adjournments or postponements thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING IN PERSON, PLEASE COMPLETE, SIGN, DATE AND RETURN THE
ENCLOSED PROXY, OR VOTE VIA INTERNET TO ENSURE YOUR SHARES ARE REPRESENTED AT THE MEETING. NO
POSTAGE IS REQUIRED WHEN MAILED IN THE ENCLOSED ENVELOPE IN THE UNITED STATES.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">By Order of the Board of Directors<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ John G. Sample, Jr.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">John G. Sample, Jr.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Senior Vice President, Chief Financial Officer and
Acting Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">April&nbsp;1, 2010<BR>
Atlanta, Georgia

</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ATLANTIC AMERICAN CORPORATION<BR>
4370 Peachtree Road, N.E.<BR>
Atlanta, Georgia 30319-3000</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>PROXY STATEMENT<BR>
FOR THE ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD MAY 4, 2010</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>GENERAL</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This proxy statement is being furnished in connection with the solicitation of proxies by the Board
of Directors of Atlantic American Corporation (the &#147;Company&#148;) for use at the 2010 Annual Meeting of
Shareholders (the &#147;Meeting&#148;) to be held at the time and place, and for the purposes, specified in
the accompanying Notice of Annual Meeting of Shareholders, and at any postponements or adjournments
thereof. When the enclosed proxy is properly executed and returned, or you vote your proxy through
the Internet as provided for on the enclosed proxy card, the shares which it represents will be
voted at the Meeting in accordance with the instructions thereon. In the absence of any such
instructions, the shares represented thereby will be voted in favor of the election of all of the
nominees for director listed under the caption &#147;Election of Directors&#148; and for the ratification of
the appointment of BDO Seidman, LLP as the Company&#146;s independent registered public accounting firm
for 2010. Management does not know of any other business to be brought before the Meeting not
described herein, but it is intended that as to any such other business properly brought before the
Meeting, a vote will be cast pursuant to any proxy granted in accordance with the judgment of the
proxies appointed thereunder. This proxy statement and the accompanying form of proxy are first
being given or sent to shareholders of the Company, and made available on the Internet, on or about
April&nbsp;1, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you are a shareholder whose shares are held in &#147;street name,&#148; (i.e., in the name of a broker,
bank or other record holder), you must either direct the record holder of your shares how to vote
your shares or obtain a proxy, executed in your favor, from the record holder to be able to vote at
the Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We encourage shareholders who hold shares in street name to provide instructions to that record
holder on how to vote your shares. Providing voting instructions ensures that your shares will be
voted at the Meeting. If shares are held through a brokerage account, the brokerage firm, under
certain circumstances, may vote the shares without instructions. On certain &#147;routine&#148; matters,
such as the ratification of the appointment of auditors, brokerage firms have authority to vote
their customers&#146; shares if the customers do not provide voting instructions. When a brokerage firm
votes its customers&#146; shares on a routine matter without receiving voting instructions, these shares
are counted both for establishing a quorum to conduct business at the meeting and in determining
the number of shares voted for or against the routine matter. The proposal to ratify the
appointment of BDO Seidman, LLP as our independent registered public accounting firm for the 2010
fiscal year is considered a routine matter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On &#147;non-routine&#148; matters, if the brokerage firm has not received voting instructions from the
shareholder, the brokerage firm cannot vote the shares on that proposal, which is considered a
&#147;broker non-vote.&#148; Broker non-votes will be counted for purposes of establishing a quorum to
conduct business at the Meeting but not for determining the number of shares voted for or against
the non-routine matter. The proposal relating to the election of the directors is considered a
non-routine matter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any shareholder who executes and delivers a proxy, or votes a proxy through the Internet, may
revoke it at any time prior to its use by: (i)&nbsp;giving written notice of such revocation to the
Acting Secretary of the Company at 4370 Peachtree Road, N.E., Atlanta, Georgia 30319-3000; (ii)
executing and delivering a proxy bearing a later date to the Acting Secretary of the Company at
4370 Peachtree Road, N.E., Atlanta, Georgia 30319-3000; (iii)&nbsp;voting, or re-voting, as the case may
be, a proxy over the Internet at a later date; or (iv)&nbsp;attending the Meeting and voting in person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Only holders of record of issued and outstanding shares of $1.00 par value per share common stock
of the Company (&#147;Common Stock&#148;) as of March&nbsp;15, 2010 (the &#147;Record Date&#148;) will be entitled to notice
of, and to vote at, the Meeting. On the Record Date, there were 22,288,710 shares of Common Stock
outstanding. Each share of Common Stock is entitled to one vote for up to ten (10)&nbsp;nominees for
director, and one vote on each other matter to be acted upon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE SHAREHOLDER MEETING TO BE
HELD ON MAY 4, 2010.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The proxy statement is available at <U>www.atlam.com</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ANNUAL REPORT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A copy of the Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2009 is being
provided with this proxy statement.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>EXPENSES OF SOLICITATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The costs of soliciting proxies will be borne by the Company. Officers, directors and employees of
the Company may solicit proxies by telephone, personal interview or otherwise, but will not receive
any additional compensation for so doing. No contract or arrangement exists for engaging
specially-paid employees or solicitors in connection with the solicitation of proxies for the
Meeting. Arrangements may be made with brokerage houses and other custodians, nominees and
fiduciaries holding shares for a beneficial owner to send proxies and proxy materials to their
principals, and the Company will reimburse them for their expenses in so doing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>VOTE REQUIRED</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A majority of the outstanding shares of Common Stock must be present in person or by proxy at the
Meeting in order to have the quorum necessary to transact business. Abstentions and broker
&#147;non-votes&#148; will be counted as present in determining whether the quorum requirement is satisfied.
A &#147;non-vote&#148; occurs when a broker, bank or other record holder holding shares for a beneficial
owner votes on one proposal pursuant to discretionary authority or instructions from the beneficial
owner, but does not vote on another proposal because the nominee has not received instruction from
the beneficial owner and does not have discretionary authority to vote with respect to such other
proposal. Directors are elected by the affirmative vote of a plurality of the shares of Common
Stock present in person or by proxy and actually voting at the Meeting. In order for shareholders
to approve each other matter to be voted on at the Meeting, the votes cast favoring the proposal
must exceed the votes cast opposing the proposal. Abstentions and non-votes will not count as votes
for or against any director or proposal, as the case may be, as to which there is an abstention or
non-vote.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1. ELECTION OF DIRECTORS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">One of the purposes of the Meeting is to elect ten directors to serve until the next annual meeting
of shareholders and until their successors have been elected and qualified, or until their earlier
resignation or removal. In the event any of the nominees should be unavailable to serve as a
director, which contingency is not presently anticipated, proxies may be voted for the election of
such other persons as may be designated by the present Board of Directors, or the Board of
Directors may reduce the number of Director nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All of the nominees for election to the Board of Directors are currently Directors of the Company.
There are no arrangements or understandings between any nominee and any other person pursuant to
which such nominee was selected as a nominee or is to be elected as a Director.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following sets forth certain information with respect to the ten nominees for Director to be
elected at the Meeting:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Age</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Position with the Company</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="7" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">J. Mack Robinson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">86</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman Emeritus</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Hilton H. Howell, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">48</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board, President and
Chief Executive Officer</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Edward E. Elson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">76</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Harold K. Fischer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">77</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Samuel E. Hudgins
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">81</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">D. Raymond Riddle
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">76</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Harriett J. Robinson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">79</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Scott G. Thompson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">65</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William H. Whaley, M.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">70</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dom H. Wyant
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">83</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The biographies of each of the Directors contains information regarding the person&#146;s service as a
director, business, educational, and other professional experience, director positions held
currently or at any time during the last five years, information regarding involvement in certain
legal or administrative proceedings, if applicable, during the last ten years, and the experiences,
qualifications, attributes or skills that cause the Board to determine that the person should serve
as a director for the Company. The Company believes that the backgrounds and qualifications of its
directors, considered as a group, should provide diverse business and professional capabilities,
along with the experience, knowledge and other abilities that will allow the Board to fulfill its
responsibilities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Robinson has served as a Director since 1974, served as Chairman of the Board from 1974 until
February&nbsp;2009 and served as President and Chief Executive Officer of the Company from September
1988 to May&nbsp;1995. Effective February&nbsp;24, 2009, Mr.&nbsp;Robinson resigned from his position as Chairman
of the Board and assumed the role of Chairman Emeritus. Mr.&nbsp;Robinson is also a director of Gray
Television, Inc. Mr.&nbsp;Robinson has been involved in various business ventures across a number of
industries during his career and also remains actively involved in numerous civic activities. He
is the named benefactor of the J. Mack Robinson School of Business of Georgia State University.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Howell has been President and Chief Executive Officer of the Company since May&nbsp;1995, and prior
thereto served as Executive Vice President of the Company from October&nbsp;1992 to May&nbsp;1995. He has
been a Director of the Company since October&nbsp;1992 and, effective February&nbsp;24, 2009, assumed the
title of Chairman of the Board of Directors. Mr.&nbsp;Howell is the son-in-law of Mr.&nbsp;Robinson and Mrs.
Robinson. He is also a director of Gray Television, Inc. and was previously a director of Triple
Crown Media, Inc. until December&nbsp;2009. In addition to being uniquely familiar with our company,
Mr.&nbsp;Howell is also a licensed attorney and has been actively involved in various segments of the
insurance industry throughout his career.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Elson is the former Ambassador of the United States of America to the Kingdom of Denmark,
serving from 1993 through 1998. He has been a Director of the Company since October&nbsp;1998, and
previously served as a Director from 1986 to 1993. Prior to serving as Ambassador, Mr.&nbsp;Elson was a
business entrepreneur with activities focused primarily in the retail sales business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Fischer is the retired President of Association Casualty Insurance Company and Association Risk
Management General Agency, Inc., former subsidiaries of the Company, positions which he held from
1984 through June&nbsp;2001. He has been a Director of the Company since July&nbsp;1999, when the Company
originally acquired those former property &#038; casualty subsidiaries, which have since been divested.
Mr.&nbsp;Fischer is currently active in a business venture focused on manufacturing a wide variety of
products from 100% recycled rubber and plastics.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hudgins has been an independent consultant since September&nbsp;1997 and was a Principal in
Percival, Hudgins &#038; Company, LLC, an investment bank, from April&nbsp;1992 to September&nbsp;1997. He has
been a Director of the Company since 1986. Mr.&nbsp;Hudgins is a certified public accountant and spent
a significant portion of his career with Arthur Andersen LLP, an independent accounting firm,
serving for a period of time as the Atlanta office managing partner. Mr.&nbsp;Hudgins remains actively
involved in various civic organizations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Riddle is the retired Chairman and Chief Executive Officer of National Service Industries,
Inc., a diversified holding company, positions he held from September&nbsp;1994 to February&nbsp;1996. Prior
thereto, he served as the President and Chief Executive Officer of National Service Industries
since January&nbsp;1993. Prior thereto, he was President of Wachovia Bank of
Georgia, N.A., the President of Wachovia Corporation of Georgia and Executive Vice President of
Wachovia Corporation. He has been a Director of the Company since 1976 and also serves as a
director of AGL Resources, Inc.
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mrs.&nbsp;Robinson, the wife of J. Mack Robinson, has been a Director of the Company since 1989. She is
also a director of Gray Television, Inc. Mrs.&nbsp;Robinson has been actively involved, to varying
degrees, with the various business ventures of her husband, including serving on the boards of
directors of other publicly-traded companies. She remains involved in numerous charitable and
philanthropic activities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Thompson has been the President and Chief Executive Officer of American Southern Insurance
Company, a subsidiary of the Company, since 2004; prior thereto he had been the President and Chief
Financial Officer of that company since 1984. He has been a Director of the Company since February
1996.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dr.&nbsp;Whaley has been a physician in private practice for more than the past five years. He has been
a Director of the Company since July&nbsp;1992. Dr.&nbsp;Whaley is a practicing physician and serves as a
medical advisor for Bankers Fidelity Life Insurance Company, a subsidiary of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Wyant is a retired partner of the law firm of Jones Day, which serves as counsel to the
Company. He was a Partner with that firm from 1989 through 1994, and Of Counsel from 1995 through
1997. He remains actively involved in various civic organizations. He has been a Director of the
Company since 1985.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board of Directors recommends a vote <B>FOR </B>the election of each of the nominees for Director.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Board Leadership Structure and Risk Oversight</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company is a &#147;controlled company&#148; and has historically experienced limited turnover in its
senior management and directors. The Company has generally operated using a board leadership
structure, under which our President and Chief Executive Officer (&#147;CEO&#148;) also serves as the
Chairman of the Board of Directors. We believe that the Company, like many U.S. companies, is
well-served by this leadership structure. Having one person serve as both CEO and Chairman of the
Board demonstrates for our employees, agents, suppliers, customers and other shareholders that our
Company is under strong leadership, with a single person setting the tone and having primary
responsibility for managing our operations. Having a single leader for both the Company and the
Board of Directors eliminates the potential for confusion or duplication of efforts, and provides
clear direction and leadership for our Company. We believe that having one person serve as CEO and
Chairman of the Board is best for our Company and our shareholders at this time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board has not formally designated a lead independent director and believes that as a result
thereof, executive sessions of the Board, which are attended solely by independent directors,
result in an open and free flow of discussion of any and all matters that any director may believe
relevant to the Company and/or its management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company believes that its leadership structure appropriately allows all directors to provide
effective oversight of its risk management function. While the Board maintains oversight
responsibility for the management of the Company&#146;s risks, it has delegated oversight responsibility
for certain areas of potential exposure to its committees. The Audit Committee oversees the
accounting and financial reporting processes of the Company, as well as legal and compliance
matters and risk management. The Audit Committee charter provides that the Audit Committee is
responsible for overseeing the internal controls of the Company along with its adherence with
compliance and regulatory requirements. On at least a quarterly basis, the Company&#146;s Director of
Internal Audit provides a comprehensive report to the Audit Committee regarding the Company&#146;s key
risks, including operational, financial and other risks. While the Audit Committee has primary
responsibility for overseeing risk management, our entire Board of Directors is actively involved
in overseeing this function for the Company. The full Board also engages in periodic discussion
with the CEO, Chief Financial Officer (&#147;CFO&#148;), executive management of each of the Company&#146;s
operating subsidiaries and other corporate officers as the Board may deem appropriate or desirable.
In addition to the roles performed by the Audit Committee, the Stock Option and Compensation
Committee considers, evaluates and oversees the risks that may arise through our compensation
programs and engages directly with all Board members, as and if necessary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company believes that its leadership structure promotes effective Board oversight of risk
management because the Board directly, and through its various committees, is regularly provided by
management with the information necessary to appropriately monitor, evaluate and assess the
Company&#146;s overall risk management.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Committees of The Board of Directors</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As a result of the level of beneficial ownership of our Common Stock by J. Mack Robinson, one of
our director nominees and currently Chairman Emeritus, and his affiliates, the Company meets the
definition of a &#147;controlled company&#148; as defined pursuant to Rule&nbsp;5615(c)(1) of NASDAQ Rules.
Accordingly, the Company is exempt from certain requirements of the NASDAQ Rules, including the
requirement that a majority of its Board of Directors be independent, as defined in such rules, the
requirement that director nominees be selected, or recommended for the board&#146;s selection, by either
a majority of the independent directors or a nominating committee comprised solely of independent
directors, and certain requirements relating to the determination of executive officer
compensation. Notwithstanding this, however, the Board of Directors has determined that the
following individuals are &#147;independent&#148; pursuant to the NASDAQ Rules for purposes of serving as a
member of the Board of Directors: Edward E. Elson, Harold K. Fischer, D. Raymond Riddle and Dom H.
Wyant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board of Directors of the Company has three standing committees: the Executive Committee, the
Stock Option and Compensation Committee and the Audit Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Executive Committee is composed of Messrs.&nbsp;Robinson, Howell and Hudgins, and Dr.&nbsp;Whaley. The
Executive Committee&#146;s function is to act in the place and stead of the Board of Directors to the
extent permitted by law on matters which require Board action between meetings of the Board of
Directors. The Executive Committee of the Company did not meet or act by written consent during
2009.
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Stock Option and Compensation Committee is composed of Messrs.&nbsp;Elson, Riddle and Dr.&nbsp;Whaley,
Chairman, each of whom, with the exception of Dr.&nbsp;Whaley, is &#147;independent&#148; pursuant to the NASDAQ
Rules. The Stock Option and Compensation Committee&#146;s function is to establish the number of stock
options to be granted to officers and key employees and the annual salaries and bonus amounts
payable to officers of the Company. The Stock Option and Compensation Committee met one time during
2009. Due to its status as a &#147;controlled company&#148;, and the related historically low turnover among
Board and Committee members, as well as among the Company&#146;s executive officers, the Board has not
foreseen a need to adopt a charter to govern the Stock Option and Compensation Committee&#146;s
functions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee is composed of Messrs.&nbsp;Elson, Riddle and Wyant. Certain information regarding
the functions performed by the Audit Committee and its membership during 2009 is set forth in the
following &#147;Report of the Audit Committee.&#148; The Board of Directors has determined that all of the
members of the Audit Committee are &#147;independent&#148; for purposes of being an Audit Committee member,
and financially literate, as such terms are defined in the NASDAQ Rules and the rules of the
Securities and Exchange Commission. In addition, the Board of Directors has determined that two of
the members of the Audit Committee, Messrs.&nbsp;Elson and Riddle, each is an &#147;audit committee financial
expert&#148; as defined by the Securities and Exchange Commission in Item 407(d) of Regulation&nbsp;S-K. In
making such determination, the Board took into consideration, among other things, the express
provision in Item 407(d) of Regulation&nbsp;S-K that the determination that a person is an audit
committee financial expert shall not impose any greater responsibility or liability on that person
than the responsibility and liability imposed on such person as a member of the Audit Committee,
nor shall it affect the duties and obligations of other Audit Committee members or the Board of
Directors. The Audit Committee has a written charter which sets out its authority and
responsibilities, a copy of which is available on the Company&#146;s website, <u>www.atlam.com</u>. The Audit
Committee met or acted by written consent four times during 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Due to its status as a &#147;controlled company,&#148; and the related historically small turnover of its
members, the Board has not foreseen the need to establish a separate nominating committee or adopt
a charter to govern the nomination process. The Board of Directors has generally addressed the
need to retain members and fill vacancies after discussion among current members, or the members of
the Executive Committee, if necessary in lieu of the full Board, and the Company&#146;s management. The
Board of Directors does not have any specific qualifications that are required to be met by
director candidates and does not have a formal process for identifying and evaluating director
candidates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Additionally, the Board of Directors does not have a formal policy with respect to the
consideration of any director candidates recommended by shareholders and has determined that it is
appropriate not to have such a formal policy at this time. The Board of Directors, however, will
give due consideration to director candidates recommended by shareholders. Any shareholder that
wishes to nominate a director candidate should submit complete information as to the identity and
qualifications of the director candidate to the Board of Directors at the address and in the manner
set forth below for communication with the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Executive sessions of the &#147;independent&#148; members of the Board of Directors are held as needed and
determined by those Directors at the conclusion of each of their regular meetings; but no less than
annually at the first regular Board meeting in each calendar year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board of Directors met or acted by written consent four times in 2009. Each of the Directors
named above attended at least 75% of the meetings of the Board and its committees of which he or
she was a member during 2009. The Company does not have a formal policy regarding Director
attendance at its annual meetings, but attendance by the Directors is encouraged and expected. At
the Company&#146;s 2009 annual meeting of shareholders, eight of the Company&#146;s directors were in
attendance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shareholders may communicate with members of the Board of Directors by mail addressed to the full
Board of Directors, a specific member of the Board of Directors or a particular committee of the
Board of Directors, at Atlantic American Corporation, 4370 Peachtree Road, N.E., Atlanta, Georgia
30319.
</DIV>






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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Report of the Audit Committee</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee (the &#147;Committee&#148;) oversees the Company&#146;s (i)&nbsp;financial reports and other
financial information; (ii)&nbsp;systems of internal controls regarding finance, accounting, legal
compliance and ethics; and (iii)&nbsp;auditing, accounting and financial reporting processes. The
Company&#146;s management has the primary responsibility for the financial statements and the reporting
processes, including the systems of internal controls. In fulfilling its oversight
responsibilities, the Committee reviewed and discussed with management the audited financial
statements of the Company as of and for the year ended December&nbsp;31, 2009, including a discussion of
the accounting principles, the reasonableness of significant accounting judgments and estimates,
and the clarity of disclosures in the financial statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company&#146;s independent registered public accounting firm is responsible for performing an audit
of the Company&#146;s financial statements in accordance with standards of the Public Company Accounting
Oversight Board (United States) and expressing an opinion thereon. During 2009, the Committee
reviewed with the independent auditors for the 2009 fiscal year their judgments as to the quality,
not just the acceptability, of the Company&#146;s accounting principles and such other matters as are
required to be discussed with the Committee under auditing standards generally accepted in the
United States, including the items set out in Statement on Auditing Standards No.&nbsp;61, <I>Communication
with Audit Committees, </I>as amended, promulgated by the Auditing Standards Board of the American
Institute of Certified Public Accountants and rule 2-07 of Regulation&nbsp;S-X. In addition, the
Committee has discussed with the Company&#146;s independent auditors for the 2009 fiscal year the
auditors&#146; independence from management and the Company, including the matters in the written
disclosures received as required by Independence Standards Board Standard No.1, and considered the
compatibility of nonaudit services provided to the Company by BDO Seidman, LLP, with the
maintenance of the auditors&#146; independence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Committee discussed with the Company&#146;s independent auditors for the 2009 fiscal year the
overall scope and plans for the 2009 audit. The Committee met with such independent auditors, with
and without management present, to discuss, among other things, the results of their audit, their
considerations of the Company&#146;s internal controls, and the overall quality of the Company&#146;s
financial reporting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In performing its functions, the Committee acts only in an oversight capacity. In its oversight
role, the Committee relies on the work and assurances of the Company&#146;s management, which has the
primary responsibility for financial statements and reports, and of the independent auditors, who,
in their report, express an opinion on the Company&#146;s annual financial statements as to their
conformity with generally accepted accounting principles.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In reliance on the reviews and discussions referred to above, the Committee recommended to the
Board of Directors that the audited financial statements be included in the Company&#146;s Annual Report
on Form 10-K for the year ended December&nbsp;31, 2009 for filing with the Securities and Exchange
Commission.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">THE AUDIT COMMITTEE

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">D. Raymond Riddle, Chairman<BR>
Edward E. Elson<BR>
Dom H. Wyant

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">March&nbsp;26, 2010

</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table sets forth ownership information regarding our outstanding equity securities as
of March&nbsp;15, 2010 by: (i)&nbsp;each person who is known to the Company to beneficially own more than 5%
of the outstanding shares of Common Stock of the Company; (ii)&nbsp;each director; (iii)&nbsp;each executive
officer named in the Summary Compensation Table below; and (iv)&nbsp;all of the Company&#146;s directors and
executive officers as a group.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Common</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Series D</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Stock</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Preferred Stock</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percent</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percent</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Name of Stockholder</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>of Class</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>of Class</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px; background: #cceeff">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Mack Robinson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">15,048,226</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">67.52</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">70,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">100</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">4370 Peachtree Road, N.E.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><br></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Atlanta, Georgia 30319</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harriett J. Robinson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">8,704,736</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">39.05</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">4370 Peachtree Road, N.E.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><br></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Atlanta, Georgia 30319</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harold K. Fischer<BR>P.O. Box 9728</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,350,274</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">6.06</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Austin, TX 78766</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hilton H. Howell, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">578,756</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.56</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Elson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Samuel E. Hudgins</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,121</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Raymond D. Riddle</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">128,422</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scott G. Thompson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">110,954</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William H. Whaley, M.D</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">41,954</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dom H. Wyant</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John G. Sample, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">64,332</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(8)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All directors and
executive officers as
a group (11 persons)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">17,379,947</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(9)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">76.39</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">100</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Represents less than one percent.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>All shares of stock are owned beneficially, and such owner has sole voting and
dispositive power, unless otherwise stated. Except upon the occurrence of certain events,
shares of Series&nbsp;D Preferred Stock are not entitled to any vote, whereas each share of common
stock entitles its holder to one vote. The shares of Series&nbsp;D Preferred Stock are not
currently convertible, but may become convertible into shares of the Company&#146;s Common Stock
under certain conditions.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>With respect to the Common Stock, includes: 3,756,646 shares owned by Gulf Capital
Services, Ltd.; 1,363,809 shares owned by Delta Life Insurance Company; and 300,000 shares
owned by Delta Fire &#038; Casualty Company, all of which are companies controlled by Mr.&nbsp;Robinson
and each of which has an address at 4370 Peachtree Road, N.E., Atlanta, Georgia 30319. With
respect to the Series&nbsp;D Preferred Stock, consists of 70,000 shares of Series&nbsp;D Preferred Stock
owned by Delta Life Insurance Company, a company controlled by Mr.&nbsp;Robinson. Also includes
all shares held by Mr.&nbsp;Robinson&#146;s wife (see note 3 below).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Harriett J. Robinson is the wife of J. Mack Robinson. With respect to the Common Stock,
includes 8,042,048 shares held by Mrs.&nbsp;Robinson as trustee for her children, as to which she
disclaims any beneficial ownership. Also includes 6,720 shares held jointly with her grandson,
over which she has sole voting and dispositive power. Does not include any shares held by Mr.
Robinson (see note 2 above).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes: 200,000 shares subject to presently exercisable stock options; 125,882 shares
held pursuant to the Company&#146;s 401(k) Plan; 3,200 shares owned by his wife; 38,000 shares
owned by his wife as custodian for their children; and 6,720 shares held in joint ownership by
Mr.&nbsp;Howell&#146;s son and Harriett J. Robinson, as to which he disclaims any beneficial ownership.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 600 shares held by Mr.&nbsp;Riddle&#146;s spouse, as to which he disclaims any
beneficial ownership.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 80,000 shares subject to presently exercisable options.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 6,000 shares owned by Dr.&nbsp;Whaley&#146;s spouse as custodian for his daughter.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes: 50,000 shares subject to presently exercisable options and 6,832 shares held
pursuant to the Company&#146;s 401(k) Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 330,000 shares issuable upon exercise of presently exercisable options held by
all directors and executive officers as a group. Also includes shares held pursuant to the
Company&#146;s 401(k) Plan described in notes 4 and 8 above.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the securities laws of the United States, the Company&#146;s directors, executive officers, and
any persons holding more than ten percent of any class of the Company&#146;s equity securities
registered pursuant to the Securities Exchange Act of 1934 are required to file with the Securities
and Exchange Commission initial reports of ownership and reports of changes of ownership of Common
Stock of the Company, and to furnish the Company with copies of such reports. To the Company&#146;s
knowledge, all such filings were completed during the year ended December&nbsp;31, 2009. In making this
disclosure, the Company has relied on written representations of its directors and executive
officers and its receipt of copies of the reports that have been filed with the Securities and
Exchange Commission.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXECUTIVE COMPENSATION<BR>
Summary Compensation Table</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is shown below information concerning the annual compensation for services in all capacities
to the Company and its subsidiaries for the fiscal years ended December&nbsp;31, 2009 and 2008 by the:
(i)&nbsp;chief executive officer of the Company and (ii)&nbsp;the Company&#146;s two other most highly compensated
executive officers at December&nbsp;31, 2009 (the &#147;named executive officers&#148;):
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">All Other</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Compen-</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Salary</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Bonus</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">sation</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Total</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Name and Principal Position</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)<SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Hilton H. Howell, Jr.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">492,750</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">64,300</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">557,050</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chairman of the
Board,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">393,219</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">300,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">66,900</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">  </SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,216,619</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President and CEO</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">456,500</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>John G. Sample, Jr.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">413,274</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">150,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">45,800</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">609,074</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Senior Vice President,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">383,518</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">150,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">765,390</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CFO and Acting
Secretary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">198,372</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>J. Mack Robinson</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">187,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">62,002</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">249,552</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chairman Emeritus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,387</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61,451</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">109,838</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Howell declined a bonus with respect to 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Discretionary bonus as declared by the Compensation Committee based on
operating results.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Discretionary bonus as declared by the Compensation Committee in July&nbsp;2008 in
recognition of efforts in connection with the completion of the sale of the Company&#146;s regional
property &#038; casualty operations and, with respect to Mr.&nbsp;Howell, in
further recognition of voluntary salary concessions made beginning July&nbsp;2007 which, as a
percentage of his approved base salary were 9% (for a period of 14&nbsp;months), 18% (for a period of
1&nbsp;month) and 56% (for a period of 5&nbsp;months).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes fees paid in cash for serving as a director of the Company and subsidiaries of $54,500.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(5)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes fees paid in cash for serving as a director of subsidiaries of the Company of $27,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(6)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes fees paid in cash for serving as a director of the Company and subsidiaries of $54,500.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(7)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Does not include amounts deemed received pursuant to certain transactions and
described below in &#147;Certain Relationships and Related Transactions.&#148;</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Outstanding Equity Awards at Fiscal Year-End</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table provides information about the outstanding equity awards held by the named
executive officers at December&nbsp;31, 2009.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD style="border-right: 0px solid #000000">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD style="border-right: 0px solid #000000">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="19" style="border-bottom: 1px solid #000000"><B>Option Awards</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD style="border-right: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="15" style="border-bottom: 1px solid #000000"><B>Stock Awards</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Equity</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Incentive</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Equity</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Plan</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Incentive</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Equity</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Market</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Awards:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Plan Awards:</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Incentive</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Shares</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Value of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Market or</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Plan Awards:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">or Units</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Shares or</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Unearned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Payout Value</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Securities</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Stock</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Units of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Shares,</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">of Unearned</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Underlying</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Securities</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Securities</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">That</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Stock</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Units or</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Shares, Units</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Unexercised</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Underlying</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Underlying</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Have</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">That</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Other Rights</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">or Other</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Options</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Unexercised</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Unexercised</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Option</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Option</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Not</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Have Not</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Rights That</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Rights That</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(#)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Options</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Unearned</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Exercise</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Expiration</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Vested</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Vested</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Have Not</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Have Not</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Name</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exercisable</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(#) Unexercisable</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Options (#)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Price ($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Date</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(#)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Vested (#)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Vested ($)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hilton H. Howell, Jr.</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10/15/11</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.59</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">05/06/13</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">John G. Sample, Jr.</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">07/02/12</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 0em; background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Mack Robinson</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>All of the option grants were made under the Company&#146;s 1992 Incentive Plan, except for
100,000 options granted to Mr.&nbsp;Howell that were made under the Company&#146;s 2002 Incentive Plan.
All of the option grants have a ten-year term. All options have an exercise price equal to
the fair market value on grant date.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Compensation of Directors</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Atlantic American&#146;s policy is to pay all members of the Board of Directors an annual retainer fee
of $12,000, to pay fees to Directors at the rate of $2,000 for each Board meeting attended, whether
in person or telephonically, and $500 for each committee meeting attended, whether in person or
telephonically. In addition, Directors are reimbursed for actual expenses incurred in connection
with attending meetings of the Board and/or Committees of the Board. The annual retainer fee is
paid in cash. Prior to 2009, the annual retainer fee was paid $6,000 in cash, with the remainder
paid in shares of Common Stock based upon the market price as of the close of business on the
business day immediately preceding the annual meeting, the date of grant of such shares. Pursuant
to the Company&#146;s 2002 Incentive Plan (&#147;the 2002 Incentive Plan&#148;), all Directors who are not
employees or officers of the Company of any of its subsidiaries are entitled to receive stock
options to purchase shares of Common Stock and other equity awards. No such awards were granted in
2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following table provides information about the compensation paid for services as a director of
the Company for the year ended December&nbsp;31, 2009.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Director Summary Compensation Table</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Non-Equity</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Nonqualified</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Fees Earned or</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Incentive Plan</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Deferred</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">All Other</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Paid in Cash</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Stock Awards</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Option</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Awards ($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Earnings</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">($)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Total ($)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J. Mack Robinson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hilton H. Howell, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Edward E. Elson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harold K. Fischer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Samuel E. Hudgins</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">D. Raymond Riddle</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Harriett J. Robinson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scott G. Thompson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">William H. Whaley, M.D.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">17,500</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dom H. Wyant</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>None other than compensation received as an employee of the Company and
reported in the &#147;Summary Compensation Table&#148; above, or, in the case of Mr.&nbsp;Thompson,
compensation received as an employee of a subsidiary of the Company.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Does not include amounts deemed received pursuant to certain related transactions
and described below in &#147;Certain Relationships and Related Transactions.&#148;</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>The Company has entered into a consulting agreement with Dr.&nbsp;Whaley, pursuant to
which Dr.&nbsp;Whaley provides certain medical consulting and advisory services to the Company&#146;s
subsidiaries. Pursuant to the agreement, Dr.&nbsp;Whaley received $17,500 during 2009 for such
services.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>For additional information regarding stock ownership and each director, see
&#147;Security Ownership of Certain Beneficiary Owners and Management.&#148;</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2. RATIFICATION OF THE APPOINTMENT OF THE COMPANY&#146;S INDEPENDENT REGISTERED PUBLIC<BR>
ACCOUNTING FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee is required by law and applicable NASDAQ Rules to be directly responsible for
the appointment, compensation and retention of the Company&#146;s independent registered public
accounting firm. The Audit Committee has appointed BDO Seidman, LLP (&#147;BDO&#148;) as the Company&#146;s
independent registered public accounting firm for the fiscal year ending December&nbsp;31, 2010. While
shareholder ratification of the selection of BDO as the Company&#146;s independent registered public
accounting firm is not required by the Company&#146;s By-laws or otherwise, the Board of Directors is
submitting the selection of BDO to the shareholders for ratification. If the shareholders fail to
ratify the selection, the Audit Committee may, but is not required to, reconsider whether to retain
that firm. Even if the selection is ratified, the Audit Committee in its discretion may direct the
appointment of a different independent registered public accounting firm at any time during the
year if it determines that such a change would be in the best interests of the Company and its
shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A representative from BDO is expected to be present at the Meeting and will have the opportunity to
make any statement if such representative desires to do so, and, if present, will be available to
respond to appropriate questions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Amounts paid to the Company&#146;s principal accountant by category were as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Audit Fees</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has paid or expects to pay BDO approximately $320,000, in the aggregate, for
professional services it rendered for the audit of the Company&#146;s consolidated financial statements
and audits of subsidiary company statutory reports for the fiscal year ended December&nbsp;31, 2009 and
the reviews of the interim financial statements included in our Quarterly Reports on Form 10-Q
filed during the fiscal year ended December&nbsp;31, 2009. The Company also paid $38,000 to BDO during
the fiscal year ended December&nbsp;31, 2009 for professional services related to its audit of the
Company&#146;s internal control over financial reporting, prior to the most recent extension, at which
time the Company requested BDO to cease such related audit. The Company paid BDO $321,500, in the
aggregate, for professional services it rendered for the audit of the Company&#146;s consolidated
financial statements and audits of subsidiary company statutory reports for the fiscal year ended
December&nbsp;31, 2008 and the reviews of the interim financial statements included in the Company&#146;s
quarterly reports on Form 10-Q filed during the fiscal year ended December&nbsp;31, 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Audit &#151; Related Fees</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the fiscal year ended December&nbsp;31, 2009, the Company engaged BDO to audit the December&nbsp;31,
2008 financial statements of The Atlantic American 401(k) Retirement Plan (the &#147;Plan&#148;).
Audit-related fees paid to BDO for the Plan audit were $27,000. The Company also paid BDO $2,855
and $9,100 for the fiscal years ended December&nbsp;31, 2009 and 2008, respectively, for professional
services it rendered in connection with the reviews of their work papers by regulatory and other
auditors in 2009 and a review of the SEC&#146;s comment letters and the Company&#146;s related responses
during 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Tax Fees</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There were no tax fees paid to the Company&#146;s principal accountant in either 2009 or 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>All Other Fees</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BDO did not provide any other category of products or services to the Company during the fiscal
years ended December&nbsp;31, 2009 or 2008 and, accordingly, no other fees were paid thereto in either
2009 or 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee considers whether the provision of non-audit services by the Company&#146;s
independent registered public accounting firm is compatible with maintaining auditor independence.
All audit and non-audit services to be performed by the Company&#146;s independent registered public
accounting firm must be, and for 2009 and 2008 were, approved in advance by the Audit Committee.
Pursuant to the Audit Committee&#146;s Audit and Non-Audit Services Pre-Approval Policy (the &#147;Policy&#148;)
and as permitted by Securities and Exchange Commission rules, the Audit Committee may delegate
pre-approval authority to any of its members, provided that any service approved in this manner is
reported to the full Audit Committee at its next meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Policy provides for a general pre-approval of certain specifically enumerated services that are
to be provided within specified fee levels. With respect to requests to provide specifically
enumerated services not specifically pre-approved pursuant to such general grant, such requests
must be submitted to the Audit Committee by both the independent registered public accounting firm
and the Chief Financial Officer, and must include a joint statement as to whether, in their view,
the request is consistent with Securities and Exchange Commission rules on auditor independence.
Such requests must also be specific as to the nature of the proposed service, the proposed fee and
any other details the Audit Committee may request.
</DIV>










<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under various leases, the most recent one dated November&nbsp;1, 2007 and amended March&nbsp;31, 2008, the
Company leases space for its principal offices, as well as the principal offices of certain of its
subsidiaries, in an office building located at 4370 Peachtree Road, N.E., Atlanta, Georgia, from
Delta Life Insurance Company, a corporation of which Mr.&nbsp;Robinson, the Company&#146;s Chairman Emeritus,
owns 54% of the stock, with the remainder being owned by Mrs.&nbsp;Robinson directly and as trustee for
her children. Under the terms of the lease, the Company occupies approximately 49,586 square feet
of office space as well as covered parking garage facilities at an annual rent of approximately
$0.5&nbsp;million, plus a pro rata share of all real estate taxes, general maintenance and service
expenses and insurance costs with respect to the office building and other facilities. The terms
of the lease are believed by management of the Company to be comparable to terms that could be
obtained by the Company from unrelated parties for comparable rental property. In 2009 and 2008,
the Company paid $0.8&nbsp;million and $0.9&nbsp;million, respectively, to Delta Life Insurance Company under
the terms of these leases.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective December&nbsp;31, 1995, an aggregate of $13.4&nbsp;million in principal of demand notes previously
issued by the Company were canceled in exchange for the issuance by the Company of an aggregate of
134,000 shares of a new series of preferred stock (the &#147;Series&nbsp;B Preferred Stock&#148;), which had a
stated value of $100 per share and accrued dividends at 9% per year. All shares of Series&nbsp;B
Preferred Stock were owned directly or indirectly by affiliates of Mr.&nbsp;Robinson, Mrs.&nbsp;Robinson or
Mr.&nbsp;Howell. On October&nbsp;28, 2008, the Company redeemed all of the issued and outstanding shares of
Series&nbsp;B Preferred Stock at the stated value of $100 per share, for an aggregate payment of $13.4
million. In connection therewith, the Company also paid approximately $1.7&nbsp;million in dividends to
the holders of the Series&nbsp;B Preferred Stock in satisfaction of a portion of the accrued but unpaid
dividends on the Series&nbsp;B Preferred Stock through the date of redemption. The holders of the
Series&nbsp;B Preferred Stock agreed to discharge the Company from any obligation to pay the remaining
$13.8&nbsp;million of accrued but unpaid dividends on the Series&nbsp;B Preferred Stock and to release the
Company from any further obligations thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective September&nbsp;30, 2006, the Company issued and sold 70,000 shares of its Series&nbsp;D preferred
stock, par value $1.00 per share (the &#147;Series&nbsp;D Preferred Stock&#148;) to an affiliate of Mr. and Mrs.
Robinson. Effective September&nbsp;30, 2008, that affiliate transferred all of its Series&nbsp;D Preferred
Stock to Delta Life Insurance Company, a corporation controlled by the Robinsons. The outstanding
shares of Series&nbsp;D Preferred Stock have a stated value of $100 per share; accrue annual dividends
at a rate of $7.25 per share (payable in cash or shares of the Company&#146;s common stock at the option
of the board of directors of the Company) and are cumulative; in certain circumstances may be
convertible into an aggregate of approximately 1,754,000 shares of Common Stock, subject to certain
adjustments and provided that such adjustments do not result in the Company issuing more than
approximately 2,703,000 shares of common stock without obtaining prior shareholder approval; and
are redeemable solely at the Company&#146;s option. The Series&nbsp;D Preferred Stock is not currently
convertible. During 2009, the Company paid $0.5&nbsp;million in Series&nbsp;D Preferred Stock dividends.
During 2008, the Company issued 417,107 shares of Common Stock in lieu of Series&nbsp;D Preferred Stock
dividend payments valued at approximately $0.5&nbsp;million. As of December&nbsp;31, 2009, the Company had
accrued but unpaid dividends on the Series&nbsp;D Preferred Stock of $22,556.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In accordance with the terms of the Stock Purchase Agreement dated December&nbsp;26, 2007 relating to
the sale by the Company of Georgia Casualty and Association Casualty, both wholly owned
subsidiaries of the Company, to Columbia Mutual Insurance Company, certain investments held by
Georgia Casualty and Association Casualty were required to be disposed of prior to the completion
of such sale. On March&nbsp;11, 2008, the Company acquired 166,354 shares of Gray Television, Inc.
(&#147;Gray&#148;) Class&nbsp;A common stock, 56,000 shares of Gray common stock, 11,177 shares of Triple Crown
Media, Inc. (&#147;Triple Crown&#148;) common stock, and 1,180 shares of Triple Crown Series&nbsp;A preferred
stock held by such subsidiaries for an aggregate purchase price of approximately $2.0&nbsp;million.
Each of Mr.&nbsp;Robinson, Mr.&nbsp;Howell and Mrs.&nbsp;Robinson are directors of Gray.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>OTHER BUSINESS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Management of the Company knows of no matters other than those stated above which are to be brought
before the Meeting. However, if any such other matters should be presented for consideration and
voting, it is the intention of the persons named in the proxies to vote thereon in accordance with
their best judgment.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SHAREHOLDER PROPOSALS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Shareholder proposals to be presented at the next annual meeting of shareholders must be received
by the Company no later than December&nbsp;3, 2010, in order to be considered for inclusion in the proxy
statement for the 2011 annual meeting of shareholders. Any such proposal should be addressed to the
Company&#146;s President and mailed to 4370 Peachtree Road, N.E., Atlanta, Georgia 30319-3000. A
shareholder not seeking to have his proposal included in the Company&#146;s proxy statement, but seeking
to have the proposal considered at the Company&#146;s 2011 annual meeting of shareholders, should notify
the Company in the manner set forth above of his proposal no later than February&nbsp;16, 2011. In
accordance with the rules of the Securities and Exchange Commission, if the shareholder has not
given such notice to the Company by February&nbsp;16, 2011, the persons appointed as proxies for the
2011 annual meeting of shareholders may exercise discretionary authority to vote on any such
shareholder proposal.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<div align="center">
<P>
<DIV style="width: 75%; border: 1px solid black; padding: 11px;">

<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>VOTE BY INTERNET<BR>
QUICK *** EASY *** IMMEDIATE</B>
</DIV>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>ATLANTIC AMERICAN CORPORATION</B>
</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
<DIV style="text-align: justify">As a stockholder of Atlantic American Corporation, you have the option of voting your shares
electronically through the Internet, eliminating the need to return the proxy card. Your
electronic vote authorizes the named proxies to vote your shares in the same manner as if you
marked, signed, dated and returned the proxy card. Votes submitted electronically over the Internet
must be received by 7:00 P.M., Eastern Time, on May&nbsp;3, 2010.</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr style="font-size: 20pt">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><IMG src="g22654g2265401.gif" alt="(LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><IMG src="g22654g2265402.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<div align="center">
<P><DIV style="position: relative; float: left; width: 42%; margin-left: 3%">
<P>

<DIV style="width: 80%; border: 1px solid black; padding-top: 1px; madding-bottom: 11px; padding-right: 11px; padding-left: 11px; margin-left: 3%">

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><U><B><I>Vote Your Proxy on the Internet</I></B></U><B><I>:</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Go to www.continentalstock.com</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt"><DIV style="text-align: justify">
Have your proxy card available when
you access the above website. Follow
the prompts to vote your shares.</DIV>
</DIV>
</DIV>
</DIV>
</DIV>

<DIV style="position: relative; float: left; margin-left: 1%; width: 1%">
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>OR</B>
</DIV>
</DIV>

<div align="center">
<DIV style="position: relative; float: right; width: 42%; margin-right: 3%">
<P>

<DIV style="width: 80%; border: 1px solid black; padding-top: 1px; madding-bottom: 11px; padding-right: 11px; padding-left: 11px; margin-left: 3%">

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><U><B><I>Vote Your Proxy by Mail</I></B></U><B><I>:</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="text-align: justify">Mark, sign, and date your proxy card,
then detach it, and return it in the
postage-paid envelope provided.<BR><br style="font-size: 10pt"></DIV>
</DIV>
</DIV>
</DIV>
</DIV>
<BR clear="all"><BR>

<div align="center" style="margin-top: 20pt">
<DIV style="width: 75%; border: 1px solid black; padding: 11px;">

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>PLEASE DO NOT RETURN THE PROXY CARD IF YOU ARE<BR>
VOTING ELECTRONICALLY</B>
</DIV>
</DIV>
</DIV>

<DIV align="center" style="font-size: 9pt; margin-top: 18pt"><B>&#9660; FOLD AND DETACH HERE AND READ THE REVERSE SIDE &#9660;</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="90%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>THIS PROXY WILL BE VOTED AS DIRECTED, OR IF NO DIRECTION IS
INDICATED, WILL BE VOTED &#147;FOR&#148; ALL DIRECTORS AND OTHER
PROPOSALS.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><font style="font-size: 6pt">Please mark<BR>
your votes<BR>
like this</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Wingdings" style="font-size: 24pt">&#120;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV style="position: relative; float: left; width: 48%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>FOR<BR>
all nominees</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>WITHHOLD<BR>
AUTHORITY<BR>
for all nominees</B></TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ELECTION OF DIRECTORS:
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" style="font-size: 24pt">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" style="font-size: 24pt">&#111;</FONT></TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><B>FOR, except (To withhold authority to vote for any individual nominee, strike
a line
through that nominee&#146;s name in the
list below)</B></TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">01 J. Mack Robinson, 02 Hilton H. Howell, Jr., 03 Edward E. Elson,  <BR>
04 Harold K. Fischer, 05 Samuel E. Hudgins, 06 D. Raymond Riddle, <BR>
07 Harriett J. Robinson, 08 Scott G. Thompson, <BR>
09 William H. Whaley, M.D., 10 Dom H. Wyant</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 15pt">&nbsp;</DIV>

<DIV style="position: relative; float: right; width: 48%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>FOR</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>AGAINST</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>ABSTAIN</B></TD>
</TR>
<TR valign="bottom" style="font-size: 3pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">TO RATIFY THE APPOINTMENT OF BDO SEIDMAN, LLP.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" style="font-size: 24pt">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" style="font-size: 24pt">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" style="font-size: 24pt">&#111;</FONT></TD>
</TR>
<TR valign="bottom" style="font-size: 3pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">3.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left">In their discretion, the proxies are authorized to vote upon such
other business as may properly come before the meeting.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>
<BR clear="all"><BR>

<DIV align="center"  style="font-family: 'Times New Roman',Times,serif">
<TABLE style="font-size: 9pt; margin-top: 35pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="65%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="34%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="line-height: 10pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>COMPANY ID:</B></TD>
</TR>
<TR valign="bottom" style="line-height: 15pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>PROXY NUMBER:</B></TD>
</TR>
<TR valign="bottom" style="line-height: 15pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>ACCOUNT NUMBER:</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV STYLE="margin-top: 10pt">&nbsp;</Div>

<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Signature</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Signature</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Dated:</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD nowrap>,</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>2010</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 6pt"><B>NOTE: Please sign exactly as name appears hereon. When shares are held by joint owners, both
should sign. When signing as attorney, administrator, trustee or guardian, please give title as
such. If a corporation, please sign  in full corporate name by President or other authorized
officer. If a partnership, please sign in partnership name by authorized person.</B></DIV>

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 8pt; margin-top: 350pt"><FONT face="Webdings">&#054;</FONT> <B>FOLD AND DETACH HERE AND READ THE REVERSE SIDE </B><FONT face="Webdings">&#054;</FONT>
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>PROXY</B>
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>ATLANTIC AMERICAN CORPORATION<BR>
4370 Peachtree Road, N.E. <BR>
Atlanta, Georgia 30319-3000</B>
</DIV>


<DIV align="Center" style="font-size: 12pt; margin-top: 10pt"><B>Proxy Solicitation on Behalf of the Board of Directors of <BR>
the Company for the Annual Meeting of Shareholders to be Held on May&nbsp;4, 2010</B>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints
Hilton H. Howell, Jr. and John G. Sample, Jr., or either
of them, as proxies with full power of substitution and resubstitution, to vote on the
undersigned&#146;s behalf at the Annual Meeting of Shareholders of Atlantic American Corporation, to
be held at 9:00 A.M., Eastern Time, on May&nbsp;4, 2010, at the offices of the Company, 4370 Peachtree
Road, N.E., Atlanta, Georgia and at all adjournments or postponements thereof, upon all business as
may properly come before the meeting, including the business described in the accompanying Notice
of Annual Meeting and Proxy Statement, receipt of which is acknowledged.
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROXIES WILL BE VOTED IN ACCORDANCE WITH ANY INSTRUCTIONS INDICATED ON THE REVERSE. IF NO
SPECIFICATION IS MADE, THE SHARES REPRESENTED BY THE PROXY WILL BE VOTED FOR ALL DIRECTOR NOMINEES
AND ALL LISTED PROPOSALS. IN THEIR DISCRETION, THE PROXIES WILL BE AUTHORIZED TO VOTE UPON SUCH
OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. THIS PROXY IS REVOCABLE AT ANY TIME PRIOR
TO ITS USE.
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 10pt"><B>(Continued, and to be marked, dated and signed, on the other side)</B>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



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