Securities Purchase Agreement

                                                                    Exhibit 10.7



                                December __, 2008

BY HAND DELIVERY
----------------

[Insert Name of SEO]
Four Oaks Bank & Trust
6114 U.S. 301 South
Four Oaks, North Carolina 27524

Dear [Insert SEO's Name],

Four Oaks Fincorp, Inc. ("FOFN") anticipates entering into a Securities Purchase
Agreement (the "Participation Agreement"), with the United States Department of
Treasury ("Treasury") that provides for FOFN's participation in the Treasury's
TARP Capital Purchase Program (the "CPP"). If FOFN participates in the CPP, the
investment contemplated by the Participation Agreement will likely occur during
the first quarter of 2009 but could close before December 31, 2008.

If FOFN does not participate in the CPP, this letter shall be of no further
force and effect. Furthermore, if FOFN ceases to participate in the CPP, this
letter shall be of no further force and effect as of the earliest possible time
permitted following the "CPP Covered Period." A "CPP Covered Period" for such
purposes shall be any period during which (A) you are a senior executive officer
of FOFN or Four Oaks Bank & Trust (the "Bank") and (B) Treasury holds an equity
or debt position acquired from FOFN in the CPP.

For FOFN to participate in the CPP and as a condition to the closing of the
investment contemplated by the Participation Agreement, the Bank is required to
establish specified standards for incentive compensation to senior executive
officers and to make changes to its compensation arrangements. To comply with
these requirements, and in consideration of the benefits that you will receive
as a result of FOFN's participation in the CPP and other good and valuable
consideration, you agree with the Bank as follows:

     1.    No Golden Parachute Payments. The Bank is prohibited from making any
          golden parachute payment to you during any CPP Covered Period.

     2.    Recovery of Bonus and Incentive Compensation. Any bonus and incentive
          compensation paid to you during a CPP Covered Period is subject to
          recovery or "clawback" by the Bank if the payments were based on
          materially inaccurate fin