AGREEMENT AND PLAN OF MERGER by and between HCSB FINANCIAL CORPORATION and UNITED COMMUNITY BANKS, INC. April 19, 2017Agreement and Plan of Merger • April 20th, 2017 • HCSB Financial Corp • State commercial banks • Georgia
THIS AGREEMENT AND PLAN OF MERGER (this “Agreement”) is made and entered into as of this 19th day of April, 2017, by and between HCSB FINANCIAL CORPORATION, a South Carolina corporation (“Seller” and, unless the context otherwise requires, the term “Seller” shall include Seller and its wholly-owned subsidiary bank, HORRY COUNTY STATE BANK, a South Carolina bank (the “Bank”)), and UNITED COMMUNITY BANKS, INC., a Georgia corporation (“Buyer”).
AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENTEmployment Agreement • April 20th, 2017 • HCSB Financial Corp • State commercial banks
This amendment (the “Amendment”) is made by and among HCSB Financial Corporation, a South Carolina corporation (the “Company”), Horry County State Bank (the “Bank”), a South Carolina state-chartered commercial bank, which is a wholly owned subsidiary of the Company (the Company and the Bank collectively referred to herein as the “Employer”), and J. Ricky Patterson, an individual resident of South Carolina (the “Executive”). This Agreement amends that certain Amended and Restated Employment Agreement between the Employer and the Executive, dated March 21, 2017. This Amendment is dated April 19, 2017 and takes effect on the consummation of the Merger (the “Effective Date”) referenced below; provided, however, that in the event this Amendment becomes void because of a failure to consummate the Merger, the Amended and Restated Employment Agreement shall not be amended and shall remain in full force and effect as before this Amendment.
