FORM OF ESOP LOAN AGREEMENTPledge Agreement • May 26th, 2011 • ASB Bancorp Inc • North Carolina
THIS LOAN AGREEMENT (“Loan Agreement”) is made and entered into as of , 2011, by and between PENTEGRA TRUST COMPANY, AS THE TRUSTEE FOR THE ASHEVILLE SAVINGS BANK, S.S.B. EMPLOYEE STOCK OWNERSHIP PLAN TRUST (“Borrower”), a trust forming part of the Asheville Savings Bank, S.S.B. Employee Stock Ownership Plan (“ESOP”), and ASB BANCORP, INC. (“Lender”), a corporation organized and existing under the laws of North Carolina.
FORM OF EXECUTIVE OFFICER EMPLOYMENT AGREEMENTExecutive Officer Employment Agreement • May 26th, 2011 • ASB Bancorp Inc • North Carolina
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of the day of , 2011, by and between ASB BANCORP, INC., a North Carolina corporation (“Company”), ASHEVILLE SAVINGS BANK, a North Carolina chartered savings bank (the “Bank”), and (“Executive”).
