BANK OF SOUTH CAROLINA CORPORATION Board Approved January 15, 1998 Shareholder Approved April 14, 1998 Effective April 14, 19981998 Omnibus Stock Incentive Plan • February 3rd, 2010 • Bank of South Carolina Corp • State commercial banks
The Plan is intended to assist BKSC in recruiting and retaining employees with ability and initiative by enabling employees to participate in its future success and to associate their interests with those of BKSC and its shareholders. The Plan is intended to permit the grant of both Options qualifying under Code section 422 (“incentive stock options”) and Options not so qualifying. No Option that is intended to be an incentive stock option shall be invalid for failure to qualify as an incentive stock option. The proceeds received by BKSC from the sale of BKSC common stock pursuant to this Plan shall be used for general corporate purposes.
