EMPLOYMENT AGREEMENTEmployment Agreement • March 30th, 2007 • First Reliance Bancshares Inc • National commercial banks • South Carolina
This EMPLOYMENT AGREEMENT (this “Agreement”) is entered into effective as of this day of , 2006, by and among First Reliance Bancshares, Inc., a South Carolina corporation (the “Corporation”), First Reliance Bank, a bank chartered under South Carolina law and a wholly owned subsidiary of the Corporation (the “Bank”), and F.R. Saunders Jr., President and Chief Executive Officer of the Corporation and the Bank (the “Executive”). The Corporation and the Bank are referred to in this Agreement individually and together as the “Employer.”
ENDORSEMENT SPLIT DOLLAR AGREEMENTEndorsement Split Dollar Agreement • March 30th, 2007 • First Reliance Bancshares Inc • National commercial banks • South Carolina
This ENDORSEMENT SPLIT DOLLAR AGREEMENT (this “Agreement”) is entered into as of this day of , 2006 by and between First Reliance Bank, a South Carolina-chartered bank (the “Bank”), and Jeffrey A. Paolucci, an executive of the Bank (the “Executive”). This Agreement shall append the Split Dollar Policy Endorsement entered into on even date herewith or as subsequently amended, by and between the aforementioned parties.
FIRST RELIANCE BANK SALARY CONTINUATION AGREEMENTSalary Continuation Agreement • March 30th, 2007 • First Reliance Bancshares Inc • National commercial banks • South Carolina
This SALARY CONTINUATION AGREEMENT (this “Agreement”) is entered into as of this day of , 2006, by and between First Reliance Bank, a South Carolina-chartered bank (the “Bank”), and Paul C. Saunders, its Senior Vice President (the “Executive”).
