FORM OF WAIVER AGREEMENT AND ACKNOWLEDGEMENTWaiver Agreement and Acknowledgement • January 15th, 2009 • Surrey Bancorp • State commercial banks • North Carolina
This Waiver Agreement and Acknowledgement (the “Waiver Agreement”) is executed as of January 9, 2009 by and among Surrey Bancorp (the “Corporation”), Surrey Bank & Trust (the “Bank”) and the undersigned officer (“Officer”) and in consideration of the benefits to all parties derived by the execution of that certain Letter Agreement (including the Schedules thereto), and a Securities Purchase Agreement – Standard Terms (including the Annexes thereto), dated January 9, 2009 (together referred to herein as the “Purchase Agreement”) between the Corporation and the United States Department of the Treasury (the “Investor”), the receipt and sufficiency of which are hereby acknowledged by all parties, the parties agree as follows:
