STOCK OPTION AND ESPP REPURCHASE AGREEMENTStock Option and Espp Repurchase Agreement • March 28th, 2008 • Reliance Bancshares, Inc. • National commercial banks
It is hereby agreed between Reliance Bank, a Missouri Banking Corporation, and its former employee, James W. Sullivan, that any stock options acquired by Mr. Sullivan through the Reliance Bank Board of Directors as a result of his employment with Reliance Bank and all stock purchased through the Reliance Bank Employee Stock Purchase Plan shall be repurchased by Reliance Bank at a rate of$12.00 per share. The current values, strike prices and repurchase prices are as follows:
