Form of Underwriting Agreement] Shares CAROLINA NATIONAL CORPORATION Common StockUnderwriting Agreement • November 28th, 2005 • Carolina National Corp • National commercial banks • New York
Carolina National Corporation, a South Carolina corporation (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to Scott & Stringfellow, Inc. (the “Underwriter”), an aggregate of shares (the “Firm Securities”) of common stock, no par value per share, of the Company (the “Common Stock”) and, at the election of the Underwriter, up to additional shares (the “Optional Securities”), of Common Stock. The Firm Securities and the Optional Securities that the Underwriter elects to purchase pursuant to Section 2 hereof are collectively called the “Securities.” The Securities are more fully described in the Prospectus, referred to below.
