FIRST AMENDMENT TO AGREEMENT AND PLAN OF MERGER AND REORGANIZATIONAgreement and Plan of Merger and Reorganization • May 29th, 2014 • New Century Bancorp Inc • State commercial banks
This First Amendment to agreement and plan of merger and reorganization (“Amendment”), is entered into as of the 29th day of May, 2014, by and among NEW CENTURY BANCORP, INC., a North Carolina corporation (“NCBC”), and its wholly-owned subsidiary, NEW CENTURY BANK, a North Carolina banking corporation (“NCBC Bank”), on the one hand, and SELECT BANCORP, INC., a North Carolina corporation (“Select”), and its wholly-owned subsidiary SELECT BANK & TRUST COMPANY, a North Carolina banking corporation (“Select Bank”) on the other hand. Initial Capitalized terms used, but not defined, herein shall have the meaning assigned to them in the Agreement (defined below).
