WARRANT AGREEMENTWarrant Agreement • October 2nd, 2009 • Pab Bankshares Inc • State commercial banks • Georgia
WHEREAS, the Company is offering subscription rights (the “Rights”) to its shareholders as of 5:00 p.m., Eastern Time, on [ ], 2009, to purchase units consisting of one share of common stock, no par value (“Common Stock”), of the Company and one warrant to purchase .25 of a share of Common Stock at $[ ] per whole share (“Warrant”) until the seventh anniversary of its issuance, subject to adjustment as described herein; and
