First Reliance Bancshares Letterhead] FORM OF SENIOR EXECUTIVE OFFICER LETTER AGREEMENTSenior Executive Officer Letter Agreement • March 10th, 2009 • First Reliance Bancshares Inc • National commercial banks
First Reliance Bancshares (the “Company”) anticipates entering into a Securities Purchase Agreement (the “Investment Agreement”), with the United States Department of Treasury (the “Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase Program (the “CPP”). If the Company does not participate in the CPP, this letter shall be of no further force and effect. If the Company ceases at any time to participate in the CPP, this letter shall only be in effect to the extent required by the Treasury with respect to compensation earned or paid during the period the Treasury holds preferred stock of the Company (the “CPP Covered Period”).
First Merchants Corporation Letterhead] Form of Senior Executive Officer Letter AgreementSenior Executive Officer Letter Agreement • February 23rd, 2009 • First Merchants Corp • National commercial banks
First Merchants Corporation (the “Company”) anticipates entering into a Securities Purchase Agreement (the “Investment Agreement”), with the United States Department of Treasury (the “Treasury”) that provides for the Company’s participation in the Treasury’s TARP Capital Purchase Program (the “CPP”). If the Company does not participate in the CPP this letter shall only be of no further force and effect. If the Company ceases at any time to participate in the CPP, this letter shall only be in effect to the extent required by the Treasury with respect to compensation earned or paid during the period the Treasury holds preferred stock of the Company (the “CPP Covered Period”).
